Registration number:
Radbournes Limited
for the
Year Ended 31 December 2024
Radbournes Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Radbournes Limited
(Registration number: 04396362)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
57,129 |
47,005 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
500 |
500 |
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Retained earnings |
3,219,158 |
3,227,961 |
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Shareholders' funds |
3,219,658 |
3,228,461 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Radbournes Limited
(Registration number: 04396362)
Balance Sheet as at 31 December 2024
(continued)
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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......................................... |
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tax
Taxation represents the sum of tax currently payable and deferred tax.
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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2 |
Accounting policies (continued) |
The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.
Deferred tax is recognised on all 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. 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 substantially enacted by the end of the reporting period.
Depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
20% of written down value per annum |
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Plant and machinery |
20% of cost per annum |
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Fixtures and fittings |
20% of cost per annum |
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Computer equipment |
33% of cost per annum |
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Property improvements |
4% of cost per annum |
Goodwill
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life which in the opinion of the directors is three years.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Computer software |
33% Straight line |
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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2 |
Accounting policies (continued) |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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Intangible assets |
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Software
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Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
- |
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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Tangible assets |
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Freehold property improvements |
Fixtures and fittings |
Plant and machinery |
Office equipment |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
- |
- |
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Disposals |
- |
- |
- |
- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
- |
- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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- |
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At 31 December 2023 |
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Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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5 |
Tangible assets (continued) |
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Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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Disposals |
( |
( |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £93,792 (2023 - £98,982) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 January 2024 |
47,005 |
47,005 |
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Fair value adjustments |
10,124 |
10,124 |
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At 31 December 2024 |
57,129 |
57,129 |
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Impairment |
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Carrying amount |
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At 31 December 2024 |
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57,129 |
The investment comprises of stocks, bonds and shares held through the London Stock Exchange and is managed on behalf of the company by EFG Harris Allday, an independent brokerage firm.
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Stocks |
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2024 |
2023 |
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Other inventories |
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Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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500 |
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500 |
Radbournes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Amounts disclosed in the balance sheet
Included in the balance sheet are financial commitments of £156,422 (2023 - £160,000). The company operates defined contribution schemes on behalf of its directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds.
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Related party transactions |
Mr C Radbourne, director and shareholder, charged the company rent of £50,000 (2023 - £50,000) for use of the yard, land and freehold building for the year ended 31 December 2024.
The above transactions were in the normal course of business and were conducted on an at arms length basis.