Radsafety Limited - Period Ending 2019-03-31

Radsafety Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2019

Registration number: 05738783

Radsafety Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Radsafety Limited

Balance Sheet

31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	4,549	5,713
Current assets
Debtors	5	21,390	22,154
Cash at bank and in hand		98,554	252,537
		119,944	274,691
Creditors: Amounts falling due within one year	6	(43,907)	(62,477)
Net current assets		76,037	212,214
Total assets less current liabilities		80,586	217,927
Provisions for liabilities		(773)	(971)
Net assets		79,813	216,956
Capital and reserves
Called up share capital		100	100
Profit and loss account		79,713	216,856
Total equity		79,813	216,956

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 October 2019
 

......................................... R A D Fuller Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

Radsafety Limited

Notes to the Financial Statements

Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
12 Kersten Close
Newbury
Berkshire
RG14 7WF

2	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue based on its value of the service provided to date.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Page 2

Radsafety Limited

Notes to the Financial Statements

Year Ended 31 March 2019

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	33% Reducing balance
Plant, machinery and equipment	20% Reducing balance, 20% Straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

Page 3

Radsafety Limited

Notes to the Financial Statements

Year Ended 31 March 2019

4	Tangible assets

	Plant, machinery and equipment £	Computer equipment £	Total £
Cost or valuation
At 1 April 2018	10,855	5,645	16,500
Additions	625	97	722
At 31 March 2019	11,480	5,742	17,222
Depreciation
At 1 April 2018	6,749	4,038	10,787
Charge for the year	1,317	569	1,886
At 31 March 2019	8,066	4,607	12,673
Carrying amount
At 31 March 2019	3,414	1,135	4,549
At 31 March 2018	4,106	1,607	5,713

5

Debtors

	Note	2019  £	2018  £
Trade debtors		16,697	17,401
Amounts due from group undertakings		3,934	4,410
Other debtors		471	60
Prepayments		288	283
		21,390	22,154

Page 4

Radsafety Limited

Notes to the Financial Statements

Year Ended 31 March 2019

6

Creditors

Creditors: amounts falling due within one year

	2019  £	2018  £
Due within one year
Corporation tax	29,027	36,549
Social security and other taxes	11,971	23,300
Other creditors	-	320
Accrued expenses	2,909	2,308
	43,907	62,477

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	80	80	80	80
Ordinary A shares of £1 each	20	20	20	20
	100	100	100	100

Page 5