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Registered number: 07999005

Rhoades Limited

ACCOUNTS
FOR THE YEAR ENDED 31/05/2023

Prepared By:
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Rhoades Limited

ACCOUNTS
FOR THE YEAR ENDED 31/05/2023
DIRECTORS
I Rhoades
REGISTERED OFFICE
Thin White Duke
Devonshire Street
Carlisle
Cumbria
CA3 8LG
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07999005
ACCOUNTANTS
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Rhoades Limited

ACCOUNTS
FOR THEYEARENDED31/05/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Rhoades Limited

BALANCE SHEET AT 31/05/2023
20232022
Notes££
FIXED ASSETS
Tangible assets467,43166,232
CURRENT ASSETS
Stock3,0603,490
Debtors6102,065192,284
Cash at bank and in hand407,380295,514
512,505491,288
CREDITORS: Amounts falling due within one year7137,405132,457
NET CURRENT ASSETS375,100358,831
TOTAL ASSETS LESS CURRENT LIABILITIES442,531425,063
CAPITAL AND RESERVES
Called up share capital8115,000115,000
Profit and loss account327,531310,063
SHAREHOLDERS' FUNDS442,531425,063
For the year ending 31/05/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 21/08/2023 and signed on their behalf by
.............................
I Rhoades
Director

Rhoades Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 15%
Motor Vehiclesreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Rhoades Limited

1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
1g. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
1h. Government Grants
Government grants offering immediate financial assistance in relation to Covid-19 are recognised in profit and loss in the year in which they are received.
2. EMPLOYEES
20232022
No.No.
Average number of employees2121
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/06/2022100,000100,000
At 31/05/2023100,000100,000
Depreciation
At 01/06/2022100,000100,000
At 31/05/2023100,000100,000
Net Book Amounts
At 31/05/2023--

Rhoades Limited

4. TANGIBLE FIXED ASSETS
Plant and
MachineryMotor VehiclesTotal
£££
Cost
At 01/06/2022154,61011,939166,549
Additions13,348-13,348
At 31/05/2023167,95811,939179,897
Depreciation
At 01/06/202290,5039,814100,317
For the year11,61853112,149
At 31/05/2023102,12110,345112,466
Net Book Amounts
At 31/05/202365,8371,59467,431
At 31/05/202264,1072,12566,232
5. STOCK 20232022
££
Stock comprises:
Stock3,0603,490
3,0603,490
6. DEBTORS 20232022
££
Amounts falling due within one year
Other debtors87,002187,002
Directors current account15,0635,282
102,065192,284
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax22,62325,516
VAT40,60737,867
Other tax and social security5,8016,314
Trade creditors63,31660,560
Accruals5,0582,200
137,405132,457

Rhoades Limited

8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100000 Ordinary shares of £1 each100000100000
15000 Preference shares of £1 each1500015000
115,000115,000
9. RELATED PARTY TRANSACTIONS
During the year a salary of £9,880 was paid to the director (2022 - £9,319).
Dividends of £39,647 were paid to the director during the year (2022 - £40,576).
At the balance sheet date a loan of £15,063 was owed to the company by the director (2022 - £5,282). The loan is interest free, unsecured and repayable on demand.
10. ADDITIONAL INFORMATION
The company is a private company, limited by shares and registered in England & Wales.
The company's registered number is 07999005.
The company's registered office is Thin White Duke, 1 Devonshire Street, Carlisle, Cumbria, CA3 8LG.
11. TRANSACTIONS WITH DIRECTORS
At 1 June 2022 a loan of £5,282 was owed to the company by the director which was repaid in full. Further advances of £15,063 were made to the director during the year which remain outstanding at the balance sheet date. Thr loan is interest free, unsecured and repayable on demand.