Radiant Medicare Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06555203 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th April 2020

for

RADIANT MEDICARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

P Radia

Mrs M Radia

N Radia

SECRETARY:

P Radia

REGISTERED OFFICE:

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

REGISTERED NUMBER:

06555203 (England and Wales)

ACCOUNTANTS:

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

126,046

149,947

Investments

6

1,237,295

777

1,363,342

150,725

CURRENT ASSETS

Stocks

337,283

318,716

Debtors

7

4,505,119

4,374,811

Cash at bank

429,724

294,089

5,272,126

4,987,616

CREDITORS

Amounts falling due within one year

8

2,122,829

1,709,812

NET CURRENT ASSETS

3,149,297

3,277,804

TOTAL ASSETS LESS CURRENT LIABILITIES

4,512,639

3,428,529

CREDITORS

Amounts falling due after more than one year

9

(1,644,877

)

(825,700

)

PROVISIONS FOR LIABILITIES

(22,595

)

(26,839

)

NET ASSETS

2,845,167

2,575,990

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

2,845,165

2,575,988

SHAREHOLDERS' FUNDS

2,845,167

2,575,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th April 2021 and were signed on its behalf by:

N Radia - Director

1.	STATUTORY INFORMATION

Radiant Medicare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property

- over lease term

Fixtures, fittings and equipment

- 20% straight line

Plant and machinery

- 25% straight line

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2019 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2019

and 30th April 2020

2,587,983

AMORTISATION

At 1st May 2019

and 30th April 2020

2,587,982

NET BOOK VALUE

At 30th April 2020

1

At 30th April 2019

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st May 2019

107,166

465,236

572,402

Additions

-

5,150

5,150

At 30th April 2020

107,166

470,386

577,552

DEPRECIATION

At 1st May 2019

107,166

315,289

422,455

Charge for year

-

29,051

29,051

At 30th April 2020

107,166

344,340

451,506

NET BOOK VALUE

At 30th April 2020

-

126,046

126,046

At 30th April 2019

-

149,947

149,947

6.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1st May 2019

300

477

777

Additions

1,236,518

-

1,236,518

At 30th April 2020

1,236,818

477

1,237,295

NET BOOK VALUE

At 30th April 2020

1,236,818

477

1,237,295

At 30th April 2019

300

477

777

7.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

1,166,897

1,098,124

Amounts owed by group undertakings

787,205

1,518,273

Amounts owed by participating interests

2,355,065

1,603,275

Other debtors

189,514

148,701

4,498,681

4,368,373

Amounts falling due after more than one year:

Other debtors

6,438

6,438

Aggregate amounts

4,505,119

4,374,811

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

326,766

268,962

Trade creditors

1,052,221

953,757

Taxation and social security

177,856

97,351

Other creditors

565,986

389,742

2,122,829

1,709,812

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

1,644,877

825,700

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

758,217

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

1,971,643

1,094,662

The company's bank facilities are secured by a fixed and floating charge over the assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

2

2

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th April 2020 and 30th April 2019:

2020

2019

£

£

P Radia

Balance outstanding at start of year

5,093

-

Amounts advanced

-

5,093

Amounts repaid

(5,093

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

5,093

Advances to directors are short term and have no interest or repayment terms attaching.

13.	RELATED PARTY DISCLOSURES

The company is related to Surreal Medicare Limited (SML) by virtue of holding 40% of the issued share capital of SML and has injected funds in the form of long term loans. At the balance sheet date the company was owed £272,600 (2019: £272,600) by SML.

There are no repayment terms or interest charges applying to the loans referred to above.

14.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Radiant Medicare Limited for the year ended 30th April 2020 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Radiant Medicare Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Radiant Medicare Limited and state those matters that we have agreed to state to the Board of Directors of Radiant Medicare Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Radiant Medicare Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Radiant Medicare Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Radiant Medicare Limited. You consider that Radiant Medicare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Radiant Medicare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

29th April 2021