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COMPANY REGISTRATION NUMBER: 14423102
RADIANT ENERGY HOLDINGS LTD
Unaudited Financial Statements
31 October 2024
RADIANT ENERGY HOLDINGS LTD
Financial Statements
Year ended 31 October 2024
Contents
Page
Directors' report
1
Income statement
2
Statement of financial position
3
Statement of changes in equity
5
Notes to the financial statements
6
RADIANT ENERGY HOLDINGS LTD
Directors' Report
Year ended 31 October 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2024 .
Principal activities
The principal activity of the company during the year was holding of investment.
Directors
The directors who served the company during the year were as follows:
Mrs Anca Cazac
Mr Barry Anthony Matthews
Mr Julien Francois Pierre Bonito
Mr Rohan Khemani
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 6 May 2025 and signed on behalf of the board by:
Mrs Anca Cazac
Mr Barry Anthony Matthews
Director
Director
Mr Julien Francois Pierre Bonito
Mr Rohan Khemani
Director
Director
RADIANT ENERGY HOLDINGS LTD
Income Statement
Year ended 31 October 2024
Period from
Year to
17 Oct 22 to
31 Oct 24
31 Oct 23
Note
£
£
Turnover
200,845
Cost of sales
( 202,500)
----
---------
Gross loss
( 1,655)
Administrative expenses
( 20,497)
( 167,530)
--------
---------
Operating loss
( 20,497)
( 169,185)
Other interest receivable and similar income
3,661
1,405
Interest payable and similar expenses
( 172)
--------
---------
Loss before taxation
( 17,008)
( 167,780)
Tax on loss
( 50,710)
--------
---------
Loss for the financial year
( 17,008)
( 218,490)
--------
---------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
RADIANT ENERGY HOLDINGS LTD
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
603
603
Current assets
Debtors
5
155,733
164,448
Cash at bank and in hand
587
59,895
---------
---------
156,320
224,343
Creditors: amounts falling due within one year
6
392,021
443,036
---------
---------
Net current liabilities
235,701
218,693
---------
---------
Total assets less current liabilities
( 235,098)
( 218,090)
---------
---------
Net liabilities
( 235,098)
( 218,090)
---------
---------
Capital and reserves
Called up share capital
400
400
Profit and loss account
( 235,498)
( 218,490)
---------
---------
Shareholders deficit
( 235,098)
( 218,090)
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RADIANT ENERGY HOLDINGS LTD
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 6 May 2025 , and are signed on behalf of the board by:
Mrs Anca Cazac
Mr Barry Anthony Matthews
Director
Director
Mr Julien Francois Pierre Bonito
Mr Rohan Khemani
Director
Director
Company registration number: 14423102
RADIANT ENERGY HOLDINGS LTD
Statement of Changes in Equity
Year ended 31 October 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 17 October 2022
Loss for the year
( 218,490)
( 218,490)
----
---------
---------
Total comprehensive income for the year
( 218,490)
( 218,490)
Issue of shares
400
400
----
---------
---------
Total investments by and distributions to owners
400
400
At 31 October 2023
400
( 218,490)
( 218,090)
Loss for the year
( 17,008)
( 17,008)
----
---------
---------
Total comprehensive income for the year
( 17,008)
( 17,008)
----
---------
---------
At 31 October 2024
400
( 235,498)
( 235,098)
----
---------
---------
RADIANT ENERGY HOLDINGS LTD
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Georges House 6th Floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings
£
Cost
At 1 November 2023 and 31 October 2024
603
----
Impairment
At 1 November 2023 and 31 October 2024
----
Carrying amount
At 31 October 2024
603
----
At 31 October 2023
603
----
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Orron Energy Greenfield AB
Ordinary
30
5. Debtors
2024
2023
£
£
Prepayments and accrued income
219
219
Director loan accounts
155,218
163,893
Other debtors
296
336
---------
---------
155,733
164,448
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,875
2,180
Accruals and deferred income
1,000
1,000
Corporation tax
50,710
Shareholder balance
243,450
243,450
Loan payable to shareholder
145,696
145,696
---------
---------
392,021
443,036
---------
---------
7. Related party transactions
The company was not under the control of a single person or company throughout the current year. The company by the end of the period has a receivable amount of £155,218 from Directors as a loan.