Company No: 09982303 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	305		381
Investment property	4	1,980,000		1,995,000
		1,980,305		1,995,381
Current assets
Debtors	5	1,540		4,049
Cash at bank and in hand		27,734		29,853
		29,274		33,902
Creditors: amounts falling due within one year	6	( 11,576)		( 15,378)
Net current assets		17,698		18,524
Total assets less current liabilities		1,998,003		2,013,905
Creditors: amounts falling due after more than one year	7	( 1,618,464)		( 1,639,080)
Provision for liabilities		( 54,625)		( 56,761)
Net assets		324,914		318,064
Capital and reserves
Called-up share capital	8	1		1
Fair value reserve		232,630		245,508
Profit and loss account		92,283		72,555
Total shareholder's funds		324,914		318,064

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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Radsub Limited (registered number: 09982303) were approved and authorised for issue by the Director on 27 October 2025. They were signed on its behalf by:

R A D Fuller 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

Radsub 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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, 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. Revenue from rents receivable is recognised as they are delivered.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 reducing balance basis over its expected useful life, as follows:

Fixtures and fittings

20 % reducing balance

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.

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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 April 2024	1,615		1,615
At 31 March 2025	1,615		1,615
Accumulated depreciation
At 01 April 2024	1,234		1,234
Charge for the financial year	76		76
At 31 March 2025	1,310		1,310
Net book value
At 31 March 2025	305		305
At 31 March 2024	381		381

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,995,000
Fair value movement	(15,000)
As at 31 March 2025	1,980,000

Valuation

The investment properties were valued at £1,980,000 by the directors at 31 March 2025.

5. Debtors

	2025		2024
	£		£
Other debtors	1,540		4,049

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to Group undertakings	3,934		3,934
Corporation tax	4,642		969
Other creditors	3,000		10,475
	11,576		15,378

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

	2025		2024
	£		£
Bank loans (secured)	863,465		934,081
Amounts owed to Group undertakings	554,999		494,999
Other creditors	200,000		210,000
	1,618,464		1,639,080

The bank loans are secured against the properties in which they relate to.

8. Called-up share capital

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

9. Ultimate controlling party

Parent Company:

Radholdings Limited

c/o Francis Clark LLP, Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3GW