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REGISTERED NUMBER: 08362807 (England and Wales)















PAUL RHODES COMMERCIALS (YORK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JANUARY 2024






PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAUL RHODES COMMERCIALS (YORK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: Mr P Rhodes
Mrs P Rhodes





SECRETARY: Mrs P Rhodes





REGISTERED OFFICE: 6 Oak Tree Close
Strensall
York
North Yorkshire
YO32 5TE





REGISTERED NUMBER: 08362807 (England and Wales)





ACCOUNTANTS: KTC
Chartered Certified Accountants
80 West View
Barlby Road
Selby
North Yorkshire
YO8 5BD

PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 22,590 25,100
Tangible assets 5 17,159 18,755
39,749 43,855

CURRENT ASSETS
Stocks 6 339,285 96,815
Debtors 7 5,443 3,764
Cash at bank 534,771 635,847
879,499 736,426
CREDITORS
Amounts falling due within one year 8 (69,590 ) (40,861 )
NET CURRENT ASSETS 809,909 695,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

849,658

739,420

PROVISIONS FOR LIABILITIES (1,186 ) (1,474 )
NET ASSETS 848,472 737,946

CAPITAL AND RESERVES
Called up share capital 118 102
Retained earnings 848,354 737,844
SHAREHOLDERS' FUNDS 848,472 737,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

BALANCE SHEET - continued
31ST JANUARY 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th October 2024 and were signed on its behalf by:




Mr P Rhodes - Director



Mrs P Rhodes - Director


PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Paul Rhodes Commercials (York) 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Portacabin - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 50,200
AMORTISATION
At 1st February 2023 25,100
Amortisation for year 2,510
At 31st January 2024 27,610
NET BOOK VALUE
At 31st January 2024 22,590
At 31st January 2023 25,100

PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property Portacabin fittings
£    £    £   
COST
At 1st February 2023 22,789 5,000 12,854
Additions - - 807
Disposals - - -
At 31st January 2024 22,789 5,000 13,661
DEPRECIATION
At 1st February 2023 8,995 4,464 8,894
Charge for year 1,380 107 953
Eliminated on disposal - - -
At 31st January 2024 10,375 4,571 9,847
NET BOOK VALUE
At 31st January 2024 12,414 429 3,814
At 31st January 2023 13,794 536 3,960

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st February 2023 500 1,438 42,581
Additions - 415 1,222
Disposals (500 ) - (500 )
At 31st January 2024 - 1,853 43,303
DEPRECIATION
At 1st February 2023 289 1,184 23,826
Charge for year - 167 2,607
Eliminated on disposal (289 ) - (289 )
At 31st January 2024 - 1,351 26,144
NET BOOK VALUE
At 31st January 2024 - 502 17,159
At 31st January 2023 211 254 18,755

PAUL RHODES COMMERCIALS (YORK) LIMITED (REGISTERED NUMBER: 08362807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


6. STOCKS
2024 2023
£    £   
Stocks 90,156 96,815
Work-in-progress 249,129 -
339,285 96,815

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 792 -
Prepayments 4,651 3,764
5,443 3,764

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 896 2,530
Tax 43,433 29,782
Social security and other taxes 2,267 1,192
VAT 19,544 3,951
Directors' current accounts 98 102
Accrued expenses 3,352 3,304
69,590 40,861