RADIANT SYSTEMS EUROPE LIMITED - Accounts

RADIANT SYSTEMS EUROPE LIMITED - Accounts

RADIANT SYSTEMS EUROPE LIMITED - Company Information

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Registered Number: 05994872
England and Wales

 

 

 

RADIANT SYSTEMS EUROPE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

RADIANT SYSTEMS EUROPE LIMITED
Contents Page
For the year ended 31 December 2022
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Oasis Accountants Limited
31 December 2022



....................................................
Oasis Accountants Limited
Building 3, Chiswick Park
566 Chiswick High Road
London
W4 5YA
16 May 2023
1
 
 		 Notes
 		 2022
£		   2021
£
Current assets      
Stocks 0    21,816 
Debtors: amounts falling due within one year 240,436    735,291 
Investments 15,600    15,600 
Cash at bank and in hand 347,739    80,811 
603,775    853,518 
Creditors: amount falling due within one year (287,440)   (668,992)
Net current assets 316,335    184,526 
 
Total assets less current liabilities 316,335    184,526 
Provisions for liabilities (54)   (1,238)
Net assets 316,281    183,288 
 

Capital and reserves 		     
Called up share capital 39,002    39,002 
Profit and loss account 277,279    144,286 
Shareholder's funds 316,281    183,288 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 May 2023 and were signed on its behalf by:


--------------------------------
Vinod Koduru
Director		--------------------------------
Venu Myneni
Director		--------------------------------
Murthy Anjeneyalu Srinivasa
Director
2
General Information
RADIANT SYSTEMS EUROPE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05994872, registration address Office Gold,Building 3 Chiswick Business Park, 566 Chiswick High Road, London, W4 5YA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – 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 as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 3 (2021 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2022 717    717 
Additions -    - 
Disposals -    - 
At 31 December 2022 717    717 
Depreciation
At 01 January 2022 717    717 
Charge for year -    - 
On disposals -    - 
At 31 December 2022 717    717 
Net book values
Closing balance as at 31 December 2022 -    - 
Opening balance as at 01 January 2022 -    - 


4.

Controlling party

The Company was under the control of Radiant Systems Inc a company incorporated in the US throughout the current year. Radiant Systems Inc wholly owns the share capital.
3