Radial Group Holdings Limited - Accounts to registrar (filleted) - small 18.2
Radial Group Holdings Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST DECEMBER 2021 |
FOR |
RADIAL GROUP HOLDINGS LIMITED |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
RADIAL GROUP HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
Directors: |
Registered office: |
Registered number: |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
BALANCE SHEET |
31ST DECEMBER 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
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. |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
BALANCE SHEET - continued |
31ST DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
1. | Statutory information |
Radial Group Holdings Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Radial Group Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the |
company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset and the net amounts presented in the financial statements |
when there is a legally enforceable right to set off the recognised amounts and there is an intention to |
settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are |
measured at transaction price less any impairment. Loans receivable are measured initially at fair |
value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method, less any impairment. |
Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, |
associates or joint ventures, are initially measured at fair value, which is normally the transaction |
price. Such assets are subsequently carried at fair value and the changes in fair value are recognised |
in profit or loss, except that investments in equity instruments that are not publicly traded and whose |
fair values cannot be measured reliably are measured at the cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators |
of impairment at each reporting date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events |
that occurred after initial recognition of the financial asset, the estimated future cash flows have been |
affected. If an asset is impaired, the impairment loss is the difference between the carrying amount |
and the present value of the estimated cash flows discounted at the assets original effective interest |
rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was |
recognised, the impairment is reversed. The reversal is such that the current carrying amount does |
not exceed what the carrying amount would have been, had the impairment not previously been |
recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
expire or are settled, or when the group transfers the financial asset and substantially all of the risks |
and rewards of the ownership to another entity, or if some significant risks and rewards of ownership |
are retained but control of the asset has transferred to another party that is able to sell the asset in its |
entirety to an unrelated third party. |
Classification of financial liabilities |
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 group after deducing all of its liabilities. |
Basic financial liabilities, including trade and other payables are measured at the transaction price. |
Other financial liabilities, including bank loans, loans from fellow group companies and preference |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
2. | Accounting policies - continued |
shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are |
measured subsequently at amortised cost using the effective interest method. |
Other financial liabilities |
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic |
financial instruments. Derivatives are initially recognised at fair value on the date a derivative |
contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value |
of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, |
unless hedge accounting is applied and the hedge is a cash flow hedge. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the group's contractual obligations expire or are |
discharged or cancelled. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | Employees (including officers) |
The average number of employees during the year was |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1st January 2021 |
and 31st December 2021 |
Net book value |
At 31st December 2021 |
At 31st December 2020 |
The company's investments at the Balance sheet date in the share capital of companies include the |
following: |
HTS Spares Limited |
Registered office: Surrey House Beacon Road, Rotherwas, Hereford, HR2 6JF |
Nature of business: Wholesale of machine tools |
% holdings | % holdings |
100 | 100 |
Year ended | Year ended |
31.12.2021 | 31.12.2020 |
£ | £ |
Aggregate capital & reserves | 4,257,513 | 3,733,189 |
5. | Debtors: amounts falling due within one year |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed by group undertakings |
6. | Creditors: amounts falling due within one year |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed to group undertakings |
Accruals |
RADIAL GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 12346702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary shares | £1 | 1,000 | 1,000 |
8. | Contingent liabilities and other commitments |
There were no contingent liabilities or lease commitments at 31st December 2021. |
9. | Related party disclosures |
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. |
10. | Ultimate controlling party |
The company is controlled by the Knappett family. |