Company registration number 02114114 (England and Wales)
RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
38,216
56,160
Current assets
Debtors
5
1,148,344
1,229,420
Cash at bank and in hand
890,807
793,841
2,039,151
2,023,261
Creditors: amounts falling due within one year
6
(1,108,886)
(820,432)
Net current assets
930,265
1,202,829
Total assets less current liabilities
968,481
1,258,989
Creditors: amounts falling due after more than one year
7
(500,000)
(500,000)
Provisions for liabilities
(1,087)
(8,452)
Net assets
467,394
750,537
Capital and reserves
Called up share capital
8
3,584
3,584
Capital redemption reserve
100,236
100,236
Profit and loss reserves
363,574
646,717
Total equity
467,394
750,537

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 August 2025 and are signed on its behalf by:
Mr DJ Fulford
Mr N Igglesden
Director
Director
Company Registration No. 02114114
RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Radcliffe & Co (Life & Pensions) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Meridians House, 7 Ocean Way, Southampton, Hampshire, United Kingdom, SO14 3TJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts chargeable in respect of the sale of services to customers.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% equal annual installments
Fixtures and fittings
10% equal annual installments
Computer equipment
25% equal annual installments
Bicycles
12 months straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
42
41
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
197,210
Amortisation and impairment
At 1 May 2024 and 30 April 2025
197,210
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
-
0
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computer equipment
Bicycles
Total
£
£
£
£
£
Cost
At 1 May 2024 and 30 April 2025
53,923
52,864
246,191
18,795
371,773
Depreciation and impairment
At 1 May 2024
43,903
50,269
202,646
18,795
315,613
Depreciation charged in the year
1,253
494
16,197
-
0
17,944
At 30 April 2025
45,156
50,763
218,843
18,795
333,557
Carrying amount
At 30 April 2025
8,767
2,101
27,348
-
0
38,216
At 30 April 2024
10,020
2,595
43,545
-
0
56,160
RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,111,306
1,195,025
Corporation tax recoverable
5,095
-
0
Other debtors
1,242
(396)
Prepayments and accrued income
30,701
34,791
1,148,344
1,229,420
6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
120,648
131,515
Other taxation and social security
129,129
163,116
Other creditors
-
0
2
Accruals and deferred income
859,109
525,799
1,108,886
820,432

A new banking facility was obtained in the year ended 30 April 2020 with respect to a bank overdraft facility. The facility is with Handelsbanken PLC. It is a fixed and floating charge over all the assets of the company. As the bank account was not overdrawn at year end, there is no overdraft balance included in the above note.

7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Preference share capital
500,000
500,000

The preference share capital shall entitle the holder thereof to a fixed preferential dividend at an interest rate of 4% per annum.

The preference share capital shall be redeemed at par in part or in whole at the option of the Company any time after 5 years from the date of issue, which has now passed.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
2,136
1,657
2,136
1,657
Ordinary B shares of £1 each
1,448
486
1,448
486
Ordinary C shares of £1 each
0
1,441
-
0
1,441
3,584
3,584
3,584
3,584
RADCLIFFE & CO (LIFE & PENSIONS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
8
Called up share capital
(Continued)
- 7 -

During the year the 1441 Ordinary C shares were redesignated as 479 Ordinary A shares and 962 Ordinary B shares. The accumulative nominal value of the shares has not changed

9
Financial commitments, guarantees and contingent liabilities

The total amount of financial commitments not included in the balance sheet is £115,200 (2024 - £201,000).

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