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Registration number: 09195216

The Rodan Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

The Rodan Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Rodan Group Limited

Company Information

Directors

Ms Elke Thuerlings

Mr John Edwards

Registered office

Suite 3
Waterside Business Centre
Canal Street
Leigh
Lancashire
WN7 4DB

Accountants

Harrison Salmon Associates
Suite 3
Waterside Business Centre
Canal Street
Leigh
WN7 4DB

 

The Rodan Group Limited

(Registration number: 09195216)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

10,745

10,748

Cash at bank and in hand

 

55

1

 

10,800

10,749

Creditors: Amounts falling due within one year

5

(108,669)

(107,196)

Total assets less current liabilities

 

(97,869)

(96,447)

Creditors: Amounts falling due after more than one year

5

(8,511)

(8,748)

Net liabilities

 

(106,380)

(105,195)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(106,381)

(105,196)

Shareholders' deficit

 

(106,380)

(105,195)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 August 2024 and signed on its behalf by:
 

.........................................
Mr John Edwards
Director

 

The Rodan Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 3
Waterside Business Centre
Canal Street
Leigh
Lancashire
WN7 4DB
United Kingdom

These financial statements were authorised for issue by the Board on 31 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors continue to provide financial support to the company to ensure it meets its obligations as they fall due, therefore they consider it appropriate to continue to adopt the going concern basis of preparation.

Government grants

Government grants relating to the support provided for the Covid-19 pandemic are recognised when there is reasonable assurance that the grant is receivable and are subsequently accounted for under the accrual model, on a systemic basis over the period in which the related costs are recognised.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The Rodan Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Included within administrative expenses in the profit and loss account is an amount totalling £40,000 which relates to an exceptional administrative expense. This expense arose from the aborted purchase of a property by the company on which they had paid a non-refundable deposit.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Debtors

Current

2023
£

2022
£

Other debtors

10,745

10,748

 

10,745

10,748

 

The Rodan Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

2,942

3,218

Trade creditors

 

1,770

1,170

Taxation and social security

 

7,169

6,780

Accruals and deferred income

 

600

600

Other creditors

 

96,188

95,428

 

108,669

107,196

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

8,511

8,748

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

8,511

8,748

Current loans and borrowings

2023
£

2022
£

Bank borrowings

2,942

2,943

Bank overdrafts

-

275

2,942

3,218

 

The Rodan Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Bank borrowings

Bounce Back Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 28 June 2026. The carrying amount at year end is £11,454 (2022 - £11,690).

The loan is provided to assist with the effects of the Covid-19 pandemic, received in May 2020. It is repayable over 6 years and interest is charged at 2.5% per annum for the duration of the loan. No capital repayments are due in the first 12 months of the loan and the government is paying the first 12 months of the interest due under this loan as a Business Interruption Payment.