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REGISTERED NUMBER: 07549363 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

EDWARD RHODES LIMITED

EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EDWARD RHODES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: D E Rhodes
R D Rhodes
R L Rhodes



REGISTERED OFFICE: Garth Holiday Park
Garth Road
Machynlleth
Powys
SY20 8HQ



REGISTERED NUMBER: 07549363 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
10 Nicholas Street
Chester
CH1 2NX



BANKERS: HSBC Bank
15 Lammas Street
Camarthen
Camarthenshire
SA31 3AQ

EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,426,237 2,574,541
Investments 5 100 -
2,426,337 2,574,541

CURRENT ASSETS
Stocks - 68,500
Debtors 6 24,832 68,323
Cash at bank and in hand 100,600 37,461
125,432 174,284
CREDITORS
Amounts falling due within one year 7 243,527 211,886
NET CURRENT LIABILITIES (118,095 ) (37,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,308,242

2,536,939

CREDITORS
Amounts falling due after more than one
year

8

591,215

797,718
NET ASSETS 1,717,027 1,739,221

CAPITAL AND RESERVES
Called up share capital 10 100 100
Other reserves 909,694 909,694
Retained earnings 807,233 829,427
SHAREHOLDERS' FUNDS 1,717,027 1,739,221

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

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

EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)

BALANCE SHEET - continued
31ST DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th June 2024 and were signed on its behalf by:





D E Rhodes - Director


EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Edward Rhodes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 6 ) .

EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2023 2,526,223 128,610 1,926 26,415 2,683,174
Disposals (130,444 ) - - - (130,444 )
At 31st December 2023 2,395,779 128,610 1,926 26,415 2,552,730
DEPRECIATION
At 1st January 2023 14,871 77,267 1,224 15,271 108,633
Charge for year 2,063 12,836 175 2,786 17,860
At 31st December 2023 16,934 90,103 1,399 18,057 126,493
NET BOOK VALUE
At 31st December 2023 2,378,845 38,507 527 8,358 2,426,237
At 31st December 2022 2,511,352 51,343 702 11,144 2,574,541

Included in cost of land and buildings is freehold land of £ 1,590,000 (2022 - £ 1,590,000 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 100
At 31st December 2023 100
NET BOOK VALUE
At 31st December 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors - 78
Directors' current accounts - 7,393
Tax 24,832 58,531
Prepayments - 2,321
24,832 68,323

EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 9) 85,000 85,000
Trade creditors - 5,158
Tax 169 55,527
Social security and other taxes - (279 )
VAT 7,842 11,206
Other creditors 87,900 -
Directors' current accounts 59,656 46,000
Accruals and deferred income 2,960 9,274
243,527 211,886

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 9) 591,215 797,718

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 251,215 457,718

9. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 85,000 85,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 85,000 85,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 255,000 255,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 251,215 457,718

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

EDWARD RHODES LIMITED (REGISTERED NUMBER: 07549363)

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

11. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - -

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the period a director received an interest free loan. The amount outstanding at the year end, which is repayable on demand and classified in debtors, was £Nil (2022: £7,394).

13. ULTIMATE CONTROLLING PARTY

The controlling party is D E Rhodes.