Radcliffe and Newlands Mortgages Limited was subject to group restructuring shortly after incorporation. The following related party relationships and transactions occurred during the period ended 30 November 2024:
Common Ownership and Control
During the period, the company was under common ownership and control with the following entities:
- Radcliffe and Newlands Wealth Limited
- Radcliffe and Newlands Limited
- Radcliffe and Newlands Holding One Limited
- Radcliffe and Newlands Holding Two Limited
- Radcliffe and Newlands Estate Planning Limited
These entities are considered related parties by virtue of common ownership and control. No material transactions occurred with Radcliffe and Newlands Estate Planning Limited during the period.
Transactions with Radcliffe and Newlands Limited
Income totalling £370,066.10 was received by Radcliffe and Newlands Limited on behalf of Radcliffe and Newlands Mortgages Limited and passed on accordingly.
The following costs were recharged to Radcliffe and Newlands Mortgages Limited:
- Advertising and marketing: £755.89
- Commission: £7,386.28
- Insurance: £87.70
- Introducer fees: £895.80
- Medical insurance: £3,533.30
- Network charges: £24,095.67
- Other staff costs: £9,448.91
- Postage: £370.00
- Stationery: £292.80
- Professional fees: £2,411.52
- Telephone: £1,835.41
Computer equipment was sold to Radcliffe and Newlands Mortgages Limited at net book value for £11,803.88.
Transactions with Radcliffe and Newlands Wealth Limited
Computer equipment was sold to Radcliffe and Newlands Mortgages Limited at net book value for £721.44.
The following costs were recharged:
- Computer software: £1,436.69 (incorrectly invoiced to Radcliffe and Newlands Wealth Limited by a supplier)
- Telephone: £307.85
Income of £46,683.68 was received by Radcliffe and Newlands Wealth Limited on behalf of Radcliffe and Newlands Mortgages Limited and passed on accordingly.
Group Restructuring
Ownership of Radcliffe and Newlands Mortgages Limited was transferred from Radcliffe and Newlands Limited to Radcliffe and Newlands Holding One Limited during the period as part of a wider corporate reorganisation. This was undertaken to restructure the group’s trading activities under a new holding company.
Sale of Holding Company
In December 2024, after the reporting period, Radcliffe and Newlands Holding One Limited was sold to a third party. As a result, Radcliffe and Newlands Mortgages Limited ceased to be under common control with the other Radcliffe and Newlands entities.