Radcliffe and Newlands Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Radcliffe and Newlands Limited Registered number 05681687 is a limited by shares company incorporated in England & Wales. The Registered Office is 1st Floor, 50 Featherstone Street, London, EC1Y 8RT.

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 goods and services supplied by the company, net of Value Added Tax and trade discounts.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is written off in equal annual instalments over its estimated useful economic life.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. 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:

Leasehold	over the remaining term of the lease
Fixtures & Fittings	25% straight line basis
Computer Equipment	25% straight line basis

2.5. Taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2.6. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2023: 46)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	100,000
Disposals	(100,000 )

As at 31 December 2024	-

Amortisation
As at 1 January 2024	68,750
Provided during the period	5,000
Disposals	(73,750 )

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	31,250

5. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	467	124,356	73,661	198,484
Additions	-	-	1,820	1,820
Disposals	(467 )	(124,356 )	(75,481 )	(200,304 )

As at 31 December 2024	-	-	-	-

Depreciation
As at 1 January 2024	224	116,354	56,205	172,783
Provided during the period	165	4,345	3,157	7,667
Disposals	(389 )	(120,699 )	(59,362 )	(180,450 )

As at 31 December 2024	-	-	-	-

Net Book Value
As at 31 December 2024	-	-	-	-

As at 1 January 2024	243	8,002	17,456	25,701

6. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	3,746	67,054
Prepayments and accrued income	4,685	8,139
Other debtors	-	47,485
VAT	808	-
Directors' loan accounts	-	179,711

	9,239	302,389

Included within trade debtors is nil (2023: £4,200) owed to an associated company, Radcliffe and Newlands Estate Planning Limited.

Included within other debtors is £nil (2023: £2,500) loaned to Radcliffe and Newlands Wealth Limited and £nil (2023: £60) loaned to Radcliffe and Newlands Mortgages Limited who were previously associated.

7. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	374	171,519
Bank loans and overdrafts	-	45,455
Corporation tax	11,396	150,206
Other taxes and social security	-	43,253
VAT	-	16,946
Other creditors	600	37

	12,370	427,416

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Radcliffe and Newlands Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Included within other creditors is £600 (2023: £nil) owed by an associated company, Radcliffe and Newlands Wealth Limited.

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Bank loans	-	75,758
Accruals and deferred income	-	12,500

	-	88,258

Included within accruals and deferred income is a provision for dilapidation costs of £nil (2023: £12,500).

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023 as restated
	£	£
Other timing differences	-	5,944

10. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	675	675

11. Other Commitments

At the end of the period the company had minimum lease payments under non-cancellable leases as follows:

	2024	2023 as restated
	£	£
Not later than one year	14,056	-
Later than one year and not later than five years	6,112	60,341

	20,168	60,341

12. Pension Commitments

The company ceased to be an employer during the year, however when it was it operated a defined contribution pension scheme for all directors and salaried staff. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date there were no unpaid contributions due to the fund.

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Radcliffe and Newlands Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Directors Advances, Credits and Guarantees

Included within Debtors are the following amounts owed by directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Jason Ransted	14,936	50,489	65,425	-	-
Mr Steven Lennon	14,925	50,489	65,425	-	-
Ms Gillian Mowbray	14,925	50,489	65,425	-	-
Mr John Martin	14,925	50,489	65,425	-	-

The above loans are unsecured, interest free and repayable on demand.

Dividends paid to directors:

	2024	2023
	£	£
Mr Jason Ransted	36,435	87,150
Mr Steven Lennon	36,435	87,150
Ms Gillian Mowbray	36,435	87,150
Mr John Martin	36,435	87,150

14. Dividends

	2024	2023 as restated
	£	£
On equity shares:
Interim dividend paid	162,888	357,750
Final dividend paid	-	34,425

	162,888	392,175

15. Related Party Transactions

During the year, the company entered into transactions with related parties under common control as part of a wider group reorganisation:

Radcliffe and Newlands Wealth Limited

The company sold Radcliffe and Newlands Wealth Limited to Radcliffe and Newlands Holding One Limited for £101,000.

Loan from associated company £600 (2023: £2,500 loaned to associated company)

Radcliffe and Newlands Estate Planning Limited

The company provided services including staff and telephones to Radcliffe and Newlands Estate Planning Limited for which they paid £21,079 during the year (2023: £22,081). Business referrals were made by the company to Radcliffe and Newlands Estate Planning Limited at no cost.

Radcliffe and Newlands Mortgages Limited

The company sold Radcliffe and Newlands Mortgages Limited to Radcliffe and Newlands Holding One Limited for £100,000.

Radcliffe and Newlands Holding One Limited

Intercompany loan balances with Radcliffe and Newlands Holding One Limited were written off during the year, in aggregate amounting to £201,000.

16. Ultimate Controlling Party

The company's ultimate controlling party of the company is its directors acting in joint consent.

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		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		31,250
Tangible Assets	5		-		25,701

			-		56,951
CURRENT ASSETS
Debtors	6	9,239		302,389
Cash at bank and in hand		2,595		326,333

		11,834		628,722
Creditors: Amounts Falling Due Within One Year	7	(12,370 )		(427,416 )

NET CURRENT ASSETS (LIABILITIES)			(536 )		201,306

TOTAL ASSETS LESS CURRENT LIABILITIES			(536 )		258,257

Creditors: Amounts Falling Due After More Than One Year	8		-		(88,258 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		-		(5,944 )

NET (LIABILITIES)/ASSETS			(536 )		164,055

CAPITAL AND RESERVES
Called up share capital	10		675		675
Profit and Loss Account			(1,211 )		163,380

SHAREHOLDERS' FUNDS			(536)		164,055