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Registered number: 10225710
Rondel Trading Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10225710
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,361,328 917,093
1,361,328 917,093
CURRENT ASSETS
Stocks 5 157,361 144,834
Debtors 6 348,152 261,907
Cash at bank and in hand 119,293 249,857
624,806 656,598
Creditors: Amounts Falling Due Within One Year 7 (1,475,230 ) (1,003,344 )
NET CURRENT ASSETS (LIABILITIES) (850,424 ) (346,746 )
TOTAL ASSETS LESS CURRENT LIABILITIES 510,904 570,347
Creditors: Amounts Falling Due After More Than One Year 8 (428,081 ) (386,183 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (34,879 ) (9,608 )
NET ASSETS 47,944 174,556
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 47,844 174,456
SHAREHOLDERS' FUNDS 47,944 174,556
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Davinder Talwar
Director
26 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rondel Trading Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10225710 . The registered office is Masonic Building, 9 Mill Street, Sutton Coldfield, West Midlands, B72 1TJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point of sale, when the customer pays for the goods and takes them from the business premises.
Rendering of services
Turnover from car wash and valeting services are recognised as they are completed.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 10% - 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 10% - 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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.
...CONTINUED
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Page 4
2.6. Taxation - continued
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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 16)
14 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2022 866,522 54,116 - 43,613 964,251
Additions 332,126 46,082 18,236 63,876 460,320
As at 31 October 2023 1,198,648 100,198 18,236 107,489 1,424,571
Depreciation
As at 1 November 2022 - 22,632 - 24,526 47,158
Provided during the period 2,768 8,181 912 4,224 16,085
As at 31 October 2023 2,768 30,813 912 28,750 63,243
Net Book Value
As at 31 October 2023 1,195,880 69,385 17,324 78,739 1,361,328
As at 1 November 2022 866,522 31,484 - 19,087 917,093
5. Stocks
31 October 2023 31 October 2022
£ £
Finished goods 157,361 144,834
6. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Trade debtors - 1,068
Prepayments and accrued income 86,831 235,839
Other debtors 261,321 25,000
348,152 261,907
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Net obligations under finance lease and hire purchase contracts 19,222 -
Trade creditors 1,255,249 775,139
Bank loans and overdrafts 33,996 28,159
Other taxes and social security 83,729 68,580
VAT 8,238 92,987
Net wages 17,910 -
Other creditors 51,557 25,403
Accruals and deferred income 5,329 4,400
Directors' loan accounts - 8,676
1,475,230 1,003,344
Trade creditors at at 31 October 2023, totalling £1,172,577, were secured by way of a fixed charge over the company's freehold premises at 327 Dudley Road, Wolverhampton, WV2 3JY, in favour of Harvest Energy (BLA) Limited. 
8. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 October 2022
£ £
Net obligations under finance lease and hire purchase contracts 55,866 -
Bank loans 372,215 386,183
428,081 386,183
A bank loan as at 31 October 2023, totalling £352,981, was secured by way of a charge over the company's freehold premises, in favour of AGG Booth Title Limited.  Post year end this loan was refinanced, the charge was satisfied and new charges were created in favour of National Westminster Bank PLC.
9. Obligations Under Finance Leases and Hire Purchase
31 October 2023 31 October 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,222 -
Later than one year and not later than five years 55,866 -
75,088 -
75,088 -
10. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
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