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REGISTERED NUMBER: 02370018 (England and Wales)















C. G. RHODES & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






C. G. RHODES & SONS LIMITED (REGISTERED NUMBER: 02370018)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


C. G. RHODES & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: C G Rhodes
G Rhodes
A T Rhodes





REGISTERED OFFICE: Main Street
Farnsfield
Newark
Nottinghamshire
NG22 8EY





REGISTERED NUMBER: 02370018 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Holdings Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

C. G. RHODES & SONS LIMITED (REGISTERED NUMBER: 02370018)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 13,515 18,018

CURRENT ASSETS
Inventories 282,400 276,649
Debtors 5 14,064 14,694
Cash at bank 329,670 342,326
626,134 633,669
CREDITORS
Amounts falling due within one year 6 10,702 10,212
NET CURRENT ASSETS 615,432 623,457
TOTAL ASSETS LESS CURRENT LIABILITIES 628,947 641,475

CAPITAL AND RESERVES
Called up share capital 7 440 440
Retained earnings 628,507 641,035
SHAREHOLDERS' FUNDS 628,947 641,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 28 September 2023 and were signed on its behalf by:





G Rhodes - Director


C. G. RHODES & SONS LIMITED (REGISTERED NUMBER: 02370018)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

C. G. Rhodes & Sons 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.

Revenue
Revenue represents amounts charged to customers for goods and services provided during the year, excluding value added tax and trade discounts. Contracting turnover represents the value of work executed during the year, once attributable profit can be reliably measured.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.


C. G. RHODES & SONS LIMITED (REGISTERED NUMBER: 02370018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 15,304 23,995 39,299
DEPRECIATION
At 1 May 2022 15,285 5,996 21,281
Charge for year 4 4,499 4,503
At 30 April 2023 15,289 10,495 25,784
NET BOOK VALUE
At 30 April 2023 15 13,500 13,515
At 30 April 2022 19 17,999 18,018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,205
Other debtors 14,064 13,489
14,064 14,694

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,129 3,635
Taxation and social security 379 1,713
Other creditors 5,194 4,864
10,702 10,212

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
440 Ordinary £1 440 440