Acorah Software Products - Accounts Production 16.4.675 false true false 6 November 2023 30 November 2024 30 November 2024 15261420 Mr Jason Ransted Mr Steven Lennon Ms Gillian Mowbray Mr Scott Rawlings Mr Jeremy Gibson Mr Simon Embley true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15261420 2023-11-05 15261420 2024-11-30 15261420 2023-11-06 2024-11-30 15261420 frs-core:CurrentFinancialInstruments 2024-11-30 15261420 frs-core:ComputerEquipment 2024-11-30 15261420 frs-core:ComputerEquipment 2023-11-06 2024-11-30 15261420 frs-core:ComputerEquipment 2023-11-05 15261420 frs-core:ShareCapital 2024-11-30 15261420 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 15261420 frs-bus:PrivateLimitedCompanyLtd 2023-11-06 2024-11-30 15261420 frs-bus:FilletedAccounts 2023-11-06 2024-11-30 15261420 frs-bus:SmallEntities 2023-11-06 2024-11-30 15261420 frs-bus:AuditExempt-NoAccountantsReport 2023-11-06 2024-11-30 15261420 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-06 2024-11-30 15261420 1 2023-11-06 2024-11-30 15261420 frs-bus:Director1 2023-11-06 2024-11-30 15261420 frs-bus:Director2 2023-11-06 2024-11-30 15261420 frs-bus:Director3 2023-11-06 2024-11-30 15261420 frs-bus:Director4 2023-11-06 2024-11-30 15261420 frs-bus:Director5 2023-11-06 2024-11-30 15261420 frs-bus:Director6 2023-11-06 2024-11-30 15261420 frs-countries:EnglandWales 2023-11-06 2024-11-30
Registered number: 15261420
Radcliffe and Newlands Mortgages Limited
Unaudited Financial Statements
For the Period 6 November 2023 to 30 November 2024
Main Office
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 15261420
30 November 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 12,379
12,379
CURRENT ASSETS
Debtors 5 1,168
Cash at bank and in hand 195,945
197,113
Creditors: Amounts Falling Due Within One Year 6 (133,709 )
NET CURRENT ASSETS (LIABILITIES) 63,404
TOTAL ASSETS LESS CURRENT LIABILITIES 75,783
NET ASSETS 75,783
CAPITAL AND RESERVES
Called up share capital 7 10
Profit and Loss Account 75,773
SHAREHOLDERS' FUNDS 75,783
For the period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jason Ransted
Director
04/08/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Radcliffe and Newlands Mortgages Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15261420 . The registered office is Floor 4 , 11 Leadenhall Street, London, EC3V 1LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade
discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% straight line basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 30
30
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4. Tangible Assets
Computer Equipment
£
Cost
As at 6 November 2023 -
Additions 17,468
As at 30 November 2024 17,468
Depreciation
As at 6 November 2023 -
Provided during the period 5,089
As at 30 November 2024 5,089
Net Book Value
As at 30 November 2024 12,379
As at 6 November 2023 -
5. Debtors
30 November 2024
£
Due within one year
Trade debtors 408
Amounts owed by group undertakings 10
Other debtors 750
1,168
Included in Trade Debtors is £10 oweing from Radcliffe and Newlands Limited, a related party.
6. Creditors: Amounts Falling Due Within One Year
30 November 2024
£
Trade creditors 9,138
Other creditors 54,262
Taxation and social security 70,309
133,709
7. Share Capital
30 November 2024
£
Allotted, Called up and fully paid 10
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Page 4
8. Related Party Transactions
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.
9. Ultimate Controlling Party
The company is a wholly owned subsidiary of Radcliffe and Newlands Holding One Limited as a result of a capital demerger
which took place during the period.
There is no individual ultimate controlling party, as the parent company is jointly controlled by its directors and shareholders
acting by joint consent.
The company is exempt from the requirement to prepare consolidated financial statements under section 402 of the
Companies Act 2006, as the parent company is exempt on the grounds that it has no subsidiaries requiring consolidation.
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