IRIS Accounts Production v24.1.9.2 05414815 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 the sale of second hand motor vehicles. false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054148152022-12-31054148152023-12-31054148152023-01-012023-12-31054148152021-12-31054148152022-01-012022-12-31054148152022-12-3105414815ns15:EnglandWales2023-01-012023-12-3105414815ns14:PoundSterling2023-01-012023-12-3105414815ns10:Director12023-01-012023-12-3105414815ns10:Director22023-01-012023-12-3105414815ns10:CompanySecretary12023-01-012023-12-3105414815ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105414815ns10:SmallEntities2023-01-012023-12-3105414815ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3105414815ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105414815ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105414815ns10:FullAccounts2023-01-012023-12-310541481512023-01-012023-12-3105414815ns10:Director32023-01-012023-12-3105414815ns10:RegisteredOffice2023-01-012023-12-3105414815ns5:CurrentFinancialInstruments2023-12-3105414815ns5:CurrentFinancialInstruments2022-12-3105414815ns5:ShareCapital2023-12-3105414815ns5:ShareCapital2022-12-3105414815ns5:RetainedEarningsAccumulatedLosses2023-12-3105414815ns5:RetainedEarningsAccumulatedLosses2022-12-3105414815ns5:ShareCapital2021-12-3105414815ns5:RetainedEarningsAccumulatedLosses2021-12-3105414815ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3105414815ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3105414815ns5:NetGoodwill2023-01-012023-12-3105414815ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3105414815ns5:LeaseholdImprovements2023-01-012023-12-3105414815ns5:PlantMachinery2023-01-012023-12-3105414815ns5:FurnitureFittings2023-01-012023-12-3105414815ns5:MotorVehicles2023-01-012023-12-3105414815ns5:NetGoodwill2022-12-3105414815ns5:NetGoodwill2023-12-3105414815ns5:NetGoodwill2022-12-3105414815ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3105414815ns5:LeaseholdImprovements2022-12-3105414815ns5:PlantMachinery2022-12-3105414815ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-3105414815ns5:LeaseholdImprovements2023-12-3105414815ns5:PlantMachinery2023-12-3105414815ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-3105414815ns5:LeaseholdImprovements2022-12-3105414815ns5:PlantMachinery2022-12-3105414815ns5:FurnitureFittings2022-12-3105414815ns5:MotorVehicles2022-12-3105414815ns5:FurnitureFittings2023-12-3105414815ns5:MotorVehicles2023-12-3105414815ns5:FurnitureFittings2022-12-3105414815ns5:MotorVehicles2022-12-3105414815ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105414815ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105414815ns5:DeferredTaxation2022-12-3105414815ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 05414815 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

RODDEN ROAD CARS LTD

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


RODDEN ROAD CARS LTD

Company Information
for the year ended 31 December 2023







DIRECTORS: A Poole
R E Poole
B J Poole





SECRETARY: R E Poole





REGISTERED OFFICE: 11 Laura Place
Bath
Somerset
BA2 4BL





REGISTERED NUMBER: 05414815 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Report of the Directors
for the year ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

A Poole
R E Poole
B J Poole

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R E Poole - Secretary


19 July 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Rodden Road Cars Ltd


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rodden Road Cars Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rodden Road Cars Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rodden Road Cars Ltd and state those matters that we have agreed to state to the Board of Directors of Rodden Road Cars Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rodden Road Cars Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rodden Road Cars Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rodden Road Cars Ltd. You consider that Rodden Road Cars Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rodden Road Cars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


23 July 2024

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Income Statement
for the year ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 6,779,725 6,865,287

Cost of sales 6,040,688 6,097,139
GROSS PROFIT 739,037 768,148

Administrative expenses 561,227 506,108
OPERATING PROFIT 177,810 262,040


Interest payable and similar expenses - 135
PROFIT BEFORE TAXATION 177,810 261,905

Tax on profit 4 39,595 50,545
PROFIT FOR THE FINANCIAL YEAR 138,215 211,360

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 38,009 10,236
38,009 10,236

CURRENT ASSETS
Stocks 591,095 706,796
Debtors 7 29,016 9,728
Cash at bank and in hand 142,567 163,187
762,678 879,711
CREDITORS
Amounts falling due within one year 8 72,888 103,185
NET CURRENT ASSETS 689,790 776,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,799

786,762

PROVISIONS FOR LIABILITIES 9 9,271 2,313
NET ASSETS 718,528 784,449

CAPITAL AND RESERVES
Called up share capital 10 30 30
Retained earnings 718,498 784,419
SHAREHOLDERS' FUNDS 718,528 784,449

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by:




A Poole - Director



R E Poole - Director


RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Statement of Changes in Equity
for the year ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 30 677,459 677,489

Changes in equity
Dividends - (104,400 ) (104,400 )
Total comprehensive income - 211,360 211,360
Balance at 31 December 2022 30 784,419 784,449

Changes in equity
Dividends - (204,136 ) (204,136 )
Total comprehensive income - 138,215 138,215
Balance at 31 December 2023 30 718,498 718,528

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Rodden Road Cars Ltd 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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax and is recognised when goods are supplied.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 15% on reducing balance
Workshop equipment - 33% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Critical accounting estimates and uncertainties
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Hire purchase and leasing agreements
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 32,637 50,986

Deferred tax 6,958 (441 )
Tax on profit 39,595 50,545

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 100,000
AMORTISATION
At 1 January 2023
and 31 December 2023 100,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Leasehold Plant and Workshop
improvements machinery equipment
£    £    £   
COST
At 1 January 2023 8,000 16,063 9,755
Additions - 4,446 -
At 31 December 2023 8,000 20,509 9,755
DEPRECIATION
At 1 January 2023 4,800 11,117 9,755
Charge for year 800 1,409 -
At 31 December 2023 5,600 12,526 9,755
NET BOOK VALUE
At 31 December 2023 2,400 7,983 -
At 31 December 2022 3,200 4,946 -

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 18,427 - 52,245
Additions 875 33,474 38,795
At 31 December 2023 19,302 33,474 91,040
DEPRECIATION
At 1 January 2023 16,337 - 42,009
Charge for year 444 8,369 11,022
At 31 December 2023 16,781 8,369 53,031
NET BOOK VALUE
At 31 December 2023 2,521 25,105 38,009
At 31 December 2022 2,090 - 10,236

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,216 9,728
Other debtors 3,800 -
29,016 9,728

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,867 7,774
Taxation and social security 64,727 91,950
Other creditors 3,294 3,461
72,888 103,185

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,271 2,313

RODDEN ROAD CARS LTD (REGISTERED NUMBER: 05414815)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 2,313
Accelerated capital allowances 6,958
Balance at 31 December 2023 9,271

10. CALLED UP SHARE CAPITAL

Alloted, issued and fully
paid


Nominal

2023

2022
Number: Class: Value: £    £   
75 Ordinary A £0.10 8 8
90 Ordinary B £0.10 9 9
75 Ordinary C £0.10 7 7
60 Ordinary D £0.10 6 6
30 30

On 15 March 2023 all shares were transferred to Rodden Road Cars Holdings Ltd.

11. PARENT COMPANY

Rodden Road Cars Ltd is 100% subsidiary of Rodden Road Cars Holdings Ltd.