Registered number: 00384200
Rodhus Properties Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 January 2024
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Rodhus Properties Limited
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Rodhus Properties Limited for the Year Ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rodhus Properties Limited for the year ended 31 January 2024 which comprise the Balance Sheet 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 at https://www.icaew.com /regulation.
This report is made solely to the Board of Directors of Rodhus Properties Limited, as a body, in accordance with the terms of our engagement letter dated 20 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Rodhus Properties Limited and state those matters that we have agreed to state to the Board of Directors of Rodhus Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rodhus Properties Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Rodhus Properties Limited 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 Rodhus Properties Limited. You consider that Rodhus Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Rodhus Properties Limited. 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.
Kreston Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Brighton
East Sussex
BN2 4GL
18 October 2024
Page 1
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Rodhus Properties Limited
Registered number: 00384200
Balance Sheet
As at 31 January 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Page 2
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Rodhus Properties Limited
Registered number: 00384200
Balance Sheet (continued)
As at 31 January 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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R C B M Ainsworth
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The notes on pages 4 to 8 form part of these financial statements.
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Rodhus Properties Limited
Notes to the Financial Statements
For the Year Ended 31 January 2024
Rodhus Properties Limited is a private company limited by share capital incorporated in England and Wales. The company registration number is: 00384200. The address of its registered office is: 30 Hollingdean Road, Brighton, East Sussex BN2 4AA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
These accounts are prepared on a going concern basis.
Turnover represents amounts chargeable in respect of services to customers.
Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation.
Depreciation has been provided at the following rates in order to write off assets over their estimated useful lives as follows:
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss
Short term debtors are measured at transaction price, less any impairment.
Short-term creditors are measured at the transaction price.
Page 4
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Rodhus Properties Limited
Notes to the Financial Statements
For the Year Ended 31 January 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expenses for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge is attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax relating to revalued investment property is measured using the tax rates and allowances that apply to the potential sale of the asset.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Page 5
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Rodhus Properties Limited
Notes to the Financial Statements
For the Year Ended 31 January 2024
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Charge for the year on owned assets
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Freehold investment property
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The 2024 valuations were made by R C B M Ainsworth, one of the directors, on an open market value for existing use basis.
Page 6
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Rodhus Properties Limited
Notes to the Financial Statements
For the Year Ended 31 January 2024
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Creditors: Amounts falling due within one year
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Amounts owed to related party
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Other taxation and social security
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Accruals and deferred income
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Page 7
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Rodhus Properties Limited
Notes to the Financial Statements
For the Year Ended 31 January 2024
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £2,972 (2023 - £2,163).
Contributions totalling £322 (2023 - £501) were payable to the scheme at the end of the year and are included in other creditors.
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Related party transactions
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Rodhus Investments Limited
(Related company)
The directors of Rodhus Properties Limited were also directors of Rodhus Investments Limited. At the balance sheet date the amount due to Rodhus Investments Limited was £309,249 (2023 - £310,119).
R C B M Ainsworth
(Director)
During the year the director was provided with a loan, on which interest is charged, from the company. At the year end the amount due from the director was £17,673 (2023 - £12,438).
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Page 8
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