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Company No: 10655065 (England and Wales)

STEVE RAD LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

STEVE RAD LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

STEVE RAD LIMITED

BALANCE SHEET

As at 31 March 2025
STEVE RAD LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 347,925 347,925
347,925 347,925
Current assets
Cash at bank and in hand 4 468 824
468 824
Creditors: amounts falling due within one year 5 ( 110,074) ( 104,335)
Net current liabilities (109,606) (103,511)
Total assets less current liabilities 238,319 244,414
Creditors: amounts falling due after more than one year 6 ( 241,353) ( 249,030)
Net liabilities ( 3,034) ( 4,616)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 3,035 ) ( 4,617 )
Total shareholder's deficit ( 3,034) ( 4,616)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Steve Rad Limited (registered number: 10655065) were approved and authorised for issue by the Director. They were signed on its behalf by:

A S Rad
Director

21 August 2025

STEVE RAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
STEVE RAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Steve Rad Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1000 Lakeside North Harbour Western Road, Portsmouth, PO6 3EN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Investment property Total
£ £
Cost
At 01 April 2024 347,925 347,925
At 31 March 2025 347,925 347,925
Accumulated depreciation
At 01 April 2024 0 0
At 31 March 2025 0 0
Net book value
At 31 March 2025 347,925 347,925
At 31 March 2024 347,925 347,925

Revaluation of tangible assets

2025 2024
£ £
Historical cost 347,925 347,925
Carrying value 347,925 347,925

4. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 468 824

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans (secured) 7,695 0
Amounts owed to director 101,434 103,435
Accruals 945 900
110,074 104,335

The loan is secured against the assets they relate to.

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans (secured) 241,353 249,030

The loan is secured against the assets they relate to.

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Ultimate controlling party

Mr A S Rad is the ultimate controlling party owing to his majority shareholding.