REGISTERED NUMBER: 07872556 (England and Wales)

3RADICAL LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Eldridge

M Talbot

C Armitage

G Stavrinidis

REGISTERED OFFICE:

1 Friary

Temple Quay

Bristol

BS1 6EA

REGISTERED NUMBER:

07872556 (England and Wales)

ACCOUNTANTS:

Clear Vision Accountancy Limited

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

FIXED ASSETS

Tangible assets

4

3,774

4,458

CURRENT ASSETS

Debtors

5

1,956,147

1,556,951

Investments

6

998,285

998,285

Cash at bank

516,710

740,733

3,471,142

3,295,969

CREDITORS

Amounts falling due within one year

7

243,935

199,630

NET CURRENT ASSETS

3,227,207

3,096,339

TOTAL ASSETS LESS CURRENT LIABILITIES

3,230,981

3,100,797

CAPITAL AND RESERVES

Called up share capital

767,370

709,818

Share premium

6,740,661

5,895,713

Retained earnings

(4,277,050

)

(3,504,734

)

SHAREHOLDERS' FUNDS

3,230,981

3,100,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 8 May 2019 and were signed on its behalf by:

D Eldridge - Director

1.	STATUTORY INFORMATION

3radical 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.

Turnover

Revenue represents the value of sales of licences and consultancy services recognised in the period.

Revenue is measured at the fair value of the consideration received or receivable and represents amounts

receivable for services provided in the normal course of business net of discounts and VAT.

Software licence revenue is recognised rateably over the term of the licence on a straight line basis.

Professional services revenue is recognised as the service is performed.

There is an invoiced but not yet recognised revenue value of £51,579 (2018: £41,943) in deferred income at the

balance sheet date.

Tangible fixed assets

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

Plant & machinery etc - 67% Straight Line

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Going concern

The directors have assessed whether the company is a going concern and have considered all available

information about the future and are confident of the company's ability to continue as a going concern. The

directors expect the company to continue to be financially supported by the directors and shareholders for the

foreseeable future.

Unlisted investments

The breakdown of shares owned in 3radical Pte Ltd at 31 March 2019, are 1,800,000 redeemable preference

shares at $1 (SGD) and 200,000 ordinary shares at $1 (SGD).

3radical Ltd also owns 1 AUD$1 ordinary share in 3radical Pty Limited.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

41,390

Additions

4,233

At 31 March 2019

45,623

DEPRECIATION

At 1 April 2018

36,932

Charge for year

4,917

At 31 March 2019

41,849

NET BOOK VALUE

At 31 March 2019

3,774

At 31 March 2018

4,458

5.

DEBTORS

31/3/19

31/3/18

£

£

Amounts falling due within one year:

Trade debtors

158,313

20,700

Research and development tax due

145,443

164,948

Other debtors

6,816

6,616

VAT

6,279

-

Deferred tax asset

721,401

613,514

Prepayments and accrued income

21,252

15,840

1,059,504

821,618

Amounts falling due after more than one year:

Amounts owed by partcip. int.

- 3radical Pte Ltd

452,967

386,006

Amounts owed by partcip. int.

- 3radical Pty Ltd

443,676

349,327

896,643

735,333

Aggregate amounts

1,956,147

1,556,951

6.	CURRENT ASSET INVESTMENTS

31/3/19

31/3/18

£

£

Unlisted investments

998,285

998,285

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade creditors

52,763

28,702

Taxation and social security

24,671

41,032

Other creditors

166,501

129,896

243,935

199,630

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £28,750 (2018: £26,523) owed to Director - Mr D Eldridge in respect of unpaid expenses.

Included in creditors is £3,400 (2018: £3,400) owed to Director - Mr M Talbot in respect of unpaid expenses.

9.	RELATED PARTY DISCLOSURES

3radical Pte Ltd & 3radical Pty Ltd

Included in debtors is a loan to the above companies of £896,643. This is split:

3radical Pte Ltd for £452,967 (2018: £386,006)

3radical Pty Ltd for £443,676 (2018: £349,327)

Both companies are 100% owned by 3radical Ltd and the directors have significant influence over the activities

of the companies which are based in Singapore and Australia respectively.