Company No: 10423579 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	80,871		67,881
Tangible assets	4	22,037		21,450
		102,908		89,331
Current assets
Stocks		180,360		172,861
Debtors	5	425,350		235,745
Cash at bank and in hand		127		127
		605,837		408,733
Creditors: amounts falling due within one year	6	( 1,560,787)		( 1,369,856)
Net current liabilities		(954,950)		(961,123)
Total assets less current liabilities		(852,042)		(871,792)
Creditors: amounts falling due after more than one year	7	( 5,415)		( 18,113)
Net liabilities		( 857,457)		( 889,905)
Capital and reserves
Called-up share capital	8	161,000		161,000
Profit and loss account		( 1,018,457 )		( 1,050,905 )
Total shareholders' deficit		( 857,457)		( 889,905)

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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Radley Scientific Limited (registered number: 10423579) were approved and authorised for issue by the Board of Directors on 08 September 2025. They were signed on its behalf by:

Mr R J R Young Director

Mr S M R Young Director

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

Radley Scientific 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 Bremridge House, Bremridge Farm, Ashburton, TQ13 7JX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

At 31 March 2025 the company shower an excess of assets over liabilities amounting to £857,457 (2024 - £889,905). The directors have confirmed that they will continue to support the company. The accounts have therefore been prepared on a going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery	7 years straight line
Vehicles	33 % reducing balance
Tools and equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, after taking due regard for obsolete and slow moving stock.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		11

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 April 2024	237,370		237,370
Additions	48,534		48,534
At 31 March 2025	285,904		285,904
Accumulated amortisation
At 01 April 2024	169,489		169,489
Charge for the financial year	35,544		35,544
At 31 March 2025	205,033		205,033
Net book value
At 31 March 2025	80,871		80,871
At 31 March 2024	67,881		67,881

The aggregate amount of research and development expenditure recognised as an expense during the period is £122,065 (2024 - £198,194).

4. Tangible assets

	Plant and machinery		Vehicles		Tools and equipment		Total
	£		£		£		£
Cost
At 01 April 2024	59,466		7,997		78,994		146,457
Additions	738		0		10,260		10,998
Disposals	0		0		( 1,934)		( 1,934)
At 31 March 2025	60,204		7,997		87,320		155,521
Accumulated depreciation
At 01 April 2024	57,757		1,150		66,100		125,007
Charge for the financial year	977		2,282		7,152		10,411
Disposals	0		0		( 1,934)		( 1,934)
At 31 March 2025	58,734		3,432		71,318		133,484
Net book value
At 31 March 2025	1,470		4,565		16,002		22,037
At 31 March 2024	1,709		6,847		12,894		21,450

5. Debtors

	2025		2024
	£		£
Trade debtors	385,632		101,684
Prepayments	39,718		114,058
Corporation tax	0		20,003
	425,350		235,745

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	48,440		32,335
Trade creditors	99,013		71,585
Amounts owed to directors	1,336,366		1,183,000
Accruals	12,626		37,421
Other taxation and social security	36,515		17,770
Other creditors	27,827		27,745
	1,560,787		1,369,856

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

	2025		2024
	£		£
Bank loans	5,415		18,113

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000
160,000 Redeemable Preference shares of £ 1.00 each	160,000		160,000
	161,000		161,000

On 29 October 2019 the company granted an option to acquire shares to seven employees under an approved Enterprise Management Incentive Scheme. The option per employee was in respect of 159 Ordinary Shares of £1 each at an exercise price of £1 per shares.