Company registration number 09107041 (England and Wales)
T Rodell Services Limited
Annual Report and Unaudited Financial Statements
For the year ended 30 June 2023
PAGES FOR FILING WITH REGISTRAR
T Rodell Services Limited
Contents
Page
Company information
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 6
T Rodell Services Limited
Director's Report
For the year ended 30 June 2023
- 1 -
The director presents his annual report and financial statements for the year ended 30 June 2023.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr Terence Rodell
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr Terence Rodell
Director
20 October 2023
T Rodell Services Limited
Balance sheet
For the year ended 30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
212
558
Current assets
Debtors
4
11,276
6,278
Cash at bank and in hand
650
11,926
6,278
Creditors: amounts falling due within one year
5
(24,016)
(14,104)
Net current liabilities
(12,090)
(7,826)
Net liabilities
(11,878)
(7,268)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(11,978)
(7,368)
Total equity
(11,878)
(7,268)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 October 2023
Mr Terence Rodell
Director
Company registration number 09107041 (England and Wales)
T Rodell Services Limited
Notes to the Financial Statements
For the year ended 30 June 2023
- 3 -
1
Accounting policies
Company information
T Rodell Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Beresford Road, St Albans, Herts, AL1 5NW.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% on cost.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
T Rodell Services Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
T Rodell Services Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 and 30 June 2023
1,048
Depreciation and impairment
At 1 July 2022
490
Depreciation charged in the year
346
At 30 June 2023
836
Carrying amount
At 30 June 2023
212
At 30 June 2022
558
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,500
1,689
Other debtors
9,776
4,589
11,276
6,278
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
173
Trade creditors
17
Taxation and social security
20,535
7,260
Other creditors
3,464
6,671
24,016
14,104
T Rodell Services Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
- 6 -
6
Related party transactions
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2023
2022
2023
2022
£
£
£
£
Terence Rodell - Director
232