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REGISTERED NUMBER: 10769157 (England and Wales)
























CARLTON RHODES CAPITAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






CARLTON RHODES CAPITAL LIMITED (REGISTERED NUMBER: 10769157)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARLTON RHODES CAPITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: N C Rhodes





REGISTERED OFFICE: 82 Ware Road
Hertford
Hertfordshire
SG13 7HN





REGISTERED NUMBER: 10769157 (England and Wales)





ACCOUNTANTS: TC Group
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

CARLTON RHODES CAPITAL LIMITED (REGISTERED NUMBER: 10769157)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,890,000 2,649,880

CURRENT ASSETS
Cash at bank 10,082 42,242

CREDITORS
Amounts falling due within one year 5 7,020 10,915
NET CURRENT ASSETS 3,062 31,327
TOTAL ASSETS LESS CURRENT LIABILITIES 2,893,062 2,681,207

CREDITORS
Amounts falling due after more than
one year

6

(1,874,311

)

(1,924,910

)

PROVISIONS FOR LIABILITIES (236,750 ) (124,688 )
NET ASSETS 782,001 631,609

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 781,901 631,509
782,001 631,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CARLTON RHODES CAPITAL LIMITED (REGISTERED NUMBER: 10769157)

BALANCE SHEET - continued
31 MAY 2023


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 director and authorised for issue on 1 November 2023 and were signed by:





N C Rhodes - Director


CARLTON RHODES CAPITAL LIMITED (REGISTERED NUMBER: 10769157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Carlton Rhodes Capital 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

CARLTON RHODES CAPITAL LIMITED (REGISTERED NUMBER: 10769157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 2,649,880
Revaluations 240,120
At 31 May 2023 2,890,000
NET BOOK VALUE
At 31 May 2023 2,890,000
At 31 May 2022 2,649,880

These investments were revalued independently in 2021 and 2023.

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 240,120
Cost 2,649,880
2,890,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,780 3,150
Taxation and social security 5,240 7,765
7,020 10,915

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 700,000 900,000
Other creditors 1,174,311 1,024,910
1,874,311 1,924,910

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, Mr Rhodes (Director) loaned the company money with no set repayment date. At the year end the amount due from the company to the director was £752,341 (2022: £601,398).

There is also £421,970 loaned to the company by Carlton Rhodes Associates Ltd, a company owned by Mr and Mrs Rhodes (2022: £423,512).

8. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs Rhodes, each holding more than 25% shares of the ordinary issued share capital.

CARLTON RHODES CAPITAL LIMITED (REGISTERED NUMBER: 10769157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. NON-DISTRIBUTABLE PROFITS

The net gain in the profit and loss account as a result of the revaluation of the investment property and resulting deferred taxation is non distributable. This is summarised below:

£   
Distributable profits brought forward99,941
Distributable profits in the year22,334

Non-distributable profits brought forward531,568

Non-distributable profits in the year128,058

Profit and loss account781,901