Radcliffe Projects Ltd - Period Ending 2020-03-31
Radcliffe Projects Ltd - Period Ending 2020-03-31
Registration number:
Radcliffe Projects Ltd
for the Year Ended 31 March 2020
Chartered Accountants
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN
Radcliffe Projects Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Radcliffe Projects Ltd
Company Information
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Directors |
Mr P G Radcliffe Mr W A Radcliffe |
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Company secretary |
Mr D Tasker |
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Registered office |
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Accountants |
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Page 1 |
Radcliffe Projects Ltd
(Registration number: 05387998)
Balance Sheet as at 31 March 2020
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2020 |
2019 |
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Fixed assets |
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Investments |
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Current assets |
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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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Net assets |
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Capital and reserves |
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Called up share capital |
391,000 |
391,000 |
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Profit and loss account |
69,469 |
134,336 |
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Total equity |
460,469 |
525,336 |
For the financial year ending 31 March 2020 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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The directors acknowledge their 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 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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
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Page 2 |
Radcliffe Projects Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 - '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.
The presentational currency is £ sterling.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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Page 3 |
Radcliffe Projects Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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
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Investments |
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2020 |
2019 |
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Investments in subsidiaries |
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Page 4 |
Radcliffe Projects Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 April 2019 |
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Provision |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2019 |
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Subsidiary undertakings |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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England and Wales |
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Subsidiary undertakings |
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John Radcliffe & Sons Limited The principal activity of John Radcliffe & Sons Limited is |
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Radcliffe Construction Limited The principal activity of Radcliffe Construction Limited is |
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Page 5 |
Radcliffe Projects Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Harden Construction Limited The principal activity of Harden Construction Limited is |
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Radcliffe Consultants Limited The principal activity of Radcliffe Consultants Limited is |
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PRS Developments Limited The principal activity of PRS Developments Limited is |
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Copley Construction Limited The principal activity of Copley Construction Limited is |
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Integrated Lift Solutions Limited The principal activity of Integrated Lift Solutions Limited is |
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Page 6 |
Radcliffe Projects Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Debtors |
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Note |
2020 |
2019 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2020 |
2019 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
- |
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Other creditors |
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- |
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Share capital |
Allotted, called up and fully paid shares
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2020 |
2019 |
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No. |
£ |
No. |
£ |
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391,000 |
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391,000 |
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Page 7 |
Radcliffe Projects Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Related party transactions |
Summary of transactions with other related parties
During the year the company incurred management charges of £1,155 (2019: £1,100) and was advanced loans of £0 (2019: £0) from John Radcliffe & Sons Limited and repaid £0 (2019: £0). At the balance sheet date the amount due to John Radcliffe & Sons Limited was £90,724 (2019: £89,569).
Radcliffe Consultants Limited
A majority owned subsidiary
During the year the company advanced loans of £0 (2018: £0), and received repayments of £0 (2019: £6,876) to Radcliffe Consultants Limited. In addition, accrued expenses for the year of £0 (2019: £0) is due to Radcliffe Consultants Limited. Management charges of £0 (2019: £0) were incurred from Radcliffe Consultants Limited. At the balance sheet date the amount due to Radcliffe Consultants Limited was £24,962 (2019: £18,086).
Harden Construction Limited
A wholly owned subsidiary
During the year he company advanced loans of £0 (2019: £0), and received repayments of £0 (2019: £0) to Radcliffe Consultants Limited. At the balance sheet date the amount due from Harden Construction Limited was £38,000 (2019: £38,000).
Copley Construction Limited
A wholly owned subsidiary
During the year the company advanced loans of £0 (2019: £0), and received repayments of £0 (2019: £0) to Copley Construction Limited. In addition, management charges of £0 (2019: £0) were incurred from Copley Construction Limited. At the balance sheet date the amount due to Copley Construction Limited was £3,348 (2019: £3,348).
PRS Developments Limited
A wholly owned subsidiary
During the year the company advanced loans of £0 (2019: £0), and received repayments of £0 (2019: £0) to PRS Developments Limited. At the balance sheet date the amount due from PRS Developments Limited was £64,999 (2019: £64,999).
Radcliffe Construction Limited
A wholly owned subsidiary
During the year the company advanced loans of £68 (2019: £0) to Radcliffe Construction Limited. At the balance sheet date the amount due from Radcliffe Construction Limited was £17,832 (2019: £11,700).
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Page 8 |