| |
|
2025 |
|
2024 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
45,954 |
|
|
35,054 |
| Current assets |
|
90,870 |
|
|
85,551 |
|
| Prepayments and accrued income |
|
388 |
|
|
916 |
|
| Creditors: amount falling due within one year |
|
(289,035) |
|
|
(197,491) |
|
|
Net current assets
|
|
|
(197,777)
|
|
|
(111,024)
|
|
Total assets less current liabilities
|
|
|
(151,823) |
|
|
(75,970) |
|
Net assets
|
|
|
(151,823) |
|
|
(75,970) |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(151,823) |
|
|
(75,970) |
| |
NOTES TO THE ACCOUNTS
General Information
Radford Mill Ltd is a private company, limited by shares, registered in England and Wales, registration number 13898385, registration address Radford Mill Farm, Radford, Timsbury, BANES, BA2 0QF.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis.
The Company has incurred consistent losses and, at the balance sheet date, had net liabilities. Notwithstanding this, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
In reaching this conclusion, the directors have considered the Companys forecasts and cash flow projections and note that they have continued to provide financial support to the Company and have confirmed their intention to do so for a period of at least twelve months from the date of approval of these financial statements.
Accordingly, the directors believe that it is appropriate to prepare the financial statements on a going concern basis.
|
| 2. |
Average number of employees
Average number of employees during the year was 18 (2024 : 6).
|
| 3. |
Related parties
During the year the company entered into the following transactions with related parties: | Amount due from/to related party | | Provision for doubtful debt from the related party |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Rad Mill Farm Shop Ltd | 60,746 | | 14,612 | | - | | - |
Radford Mill Ltd and Rad Mill Farm Shop Ltd are related parties as both companies are wholly owned and controlled by Richard Fox, who is a director of both entities.
During the year, Radford Mill Ltd sold goods to Rad Mill Farm Shop in the ordinary course of business. In addition, Radford Mill Ltd paid for certain purchases on behalf of Rad Mill Farm Shop, both during the financial year and after the year-end. These transactions were conducted on normal commercial terms.
Any outstanding balances were unsecured, interest-free, and repayable on demand. |
|
Related party transactions
At the year end, the company owed Mr R Fox £251,710 (2024: £162,550) in the form of a director's current account. There are no fixed repayment terms associated with the monies advanced and no interest is charged on the outstanding amount.
No other transactions with related parties were undertaken such as are required to be disclosed under FRS105.
|
For the year ended 28 February 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 accounts for the year in question 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 accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 January 2026 and were signed on its behalf by: --------------------------------
R Fox
Director |
2
|