Radio Newco Limited - Accounts to registrar (filleted) - small 24.3

REGISTERED NUMBER: 14755786 (England and Wales)

RADIO NEWCO LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

24 MARCH 2023 TO 31 DECEMBER 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R Melrose

S J Wright

I Thomson

REGISTERED OFFICE:

Unit 4 Navigation Court

Calder Park

Wakefield

WF2 7BJ

REGISTERED NUMBER:

14755786 (England and Wales)

AUDITORS:

DSC Accountants Ltd

Chartered Accountants

Statutory Auditors

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

FIXED ASSETS

Investments

4

8,332,580

CURRENT ASSETS

Debtors

5

633,742

CREDITORS

Amounts falling due within one year

6

1,934,296

NET CURRENT LIABILITIES

(1,300,554

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,032,026

CREDITORS

Amounts falling due after more than one year

7

5,946,239

NET ASSETS

1,085,787

CAPITAL AND RESERVES

Called up share capital

2

Share premium

1,598,099

Retained earnings

(512,314

)

1,085,787

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 13 December 2024 and were signed on its behalf by:

I Thomson - Director

1.	STATUTORY INFORMATION

Radio Newco 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.

Preparation of consolidated financial statements

The financial statements contain information about Radio Newco Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Assent Building Compliance and Safety Group Limited, 4 Navigation Court, Calder Park, Wakefield WF2 7BJ.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

Going concern

The parent undertaking has confirmed that it will provide further financial support to the company as required at least twelve months from the date of approval of the financial statements of the company. Consequently, the financial statement have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

8,332,580

At 31 December 2023

8,332,580

NET BOOK VALUE

At 31 December 2023

8,332,580

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

522,477

Other debtors

111,265

633,742

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

550,000

Amounts owed to group undertakings

570,350

Other creditors

813,946

1,934,296

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

4,950,000

Other creditors

996,239

5,946,239

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham French (Senior Statutory Auditor)

for and on behalf of DSC Accountants Ltd

9.	ULTIMATE CONTROLLING PARTY

The company is a 75% subsidiary of Assent Building Compliance and Safety Limited whose registered office is at 4 Navigation Court, Calder Park, Wakefield WF2 7BJ.