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REGISTERED NUMBER: 03037806 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

RHODI GROUP LIMITED

RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RHODI GROUP LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: I V Bux
Mrs H I Bux
R I Bux





SECRETARY: I V Bux





REGISTERED OFFICE: 1 Fishwick Park
Mercer Street
Preston
Lancashire
PR1 4LZ





REGISTERED NUMBER: 03037806 (England and Wales)





ACCOUNTANTS: Hayes & Co
Chartered Accountants
St.Andrews House
11 Dalton Court, Commercial Road,
Blackburn Interchange
Darwen
Lancashire
BB3 0DG

RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,263 14,771
Investments 5 3 3
Investment property 6 3,600,000 3,600,000
3,613,266 3,614,774

CURRENT ASSETS
Debtors 7 4,210,635 3,941,770
Cash at bank 6,919 466,538
4,217,554 4,408,308
CREDITORS
Amounts falling due within one year 8 5,277,613 5,383,786
NET CURRENT LIABILITIES (1,060,059 ) (975,478 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,553,207

2,639,296

PROVISIONS FOR LIABILITIES 272,959 272,959
NET ASSETS 2,280,248 2,366,337

CAPITAL AND RESERVES
Called up share capital 1,004 1,004
Fair value reserve 9 1,079,363 1,079,363
Retained earnings 1,199,881 1,285,970
SHAREHOLDERS' FUNDS 2,280,248 2,366,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

BALANCE SHEET - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





R I Bux - Director


RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Rhodi Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03037806 and the registered office is 1 Fishwick Park, Mercer Street, Preston, Lancashire, PR1 4LZ.

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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Significant judgements and estimates
In the application of the company's accounting polices, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience that the directors have and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents rental income receivable under the terms of the lease agreements with tenants and it is recognised in the period that the income relates to.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on reducing balance

Fixed assets are initially recorded at cost and are measured at cost less accumulated depreciation and any accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are initially recorded at cost plus costs of acquisition.

The increase or decrease in fair value, less the deferred taxation on the increase are show in a separate non distributable reserve.

RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial Instruments' of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade receivable, cash and bank balances and loans to fellow group companies are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

The company has no financial instruments that are classified as other financial assets.

Impairment of financial assets

Financial assets, other than those held at fair value through the income statement, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result if one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows have been affected. If an assets is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

The company has no financial instruments that are classified as other financial liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Going concern
The director's have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank.

3. EMPLOYEES AND DIRECTORS

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

RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 194,915 34,822 229,737
DEPRECIATION
At 1 October 2022 180,277 34,689 214,966
Charge for year 1,464 44 1,508
At 30 September 2023 181,741 34,733 216,474
NET BOOK VALUE
At 30 September 2023 13,174 89 13,263
At 30 September 2022 14,638 133 14,771

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 3
NET BOOK VALUE
At 30 September 2023 3
At 30 September 2022 3

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 3,600,000
NET BOOK VALUE
At 30 September 2023 3,600,000
At 30 September 2022 3,600,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2014 1,349,203
Cost 2,250,797
3,600,000

RHODI GROUP LIMITED (REGISTERED NUMBER: 03037806)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 360,343 204,031
Amounts owed by participating interests 3,826,278 3,726,358
Other debtors 24,014 11,381
4,210,635 3,941,770

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 181,838 28,699
Amounts owed to group undertakings 4,430,275 4,535,362
Amounts owed to participating interests 311,437 367,910
Taxation and social security 186,126 173,088
Other creditors 167,937 278,727
5,277,613 5,383,786

9. RESERVES
Fair
value
reserve
£   
At 1 October 2022
and 30 September 2023 1,079,363

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate shareholders include F I Bux, A I Bux and R I Bux.