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Registration number: 12618279

Rodak Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Rodak Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Rodak Property Ltd

Company Information

Directors

Mr Robert Frazer Knights

Mrs Dawn Marie Knights

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Rodak Property Ltd

(Registration number: 12618279)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

10,000

14,000

Investment property

6

152,000

72,000

Investments

7

500

-

 

162,500

86,000

Current assets

 

Debtors

8

10,355

3,322

Cash at bank and in hand

 

3,555

853

 

13,910

4,175

Creditors: Amounts falling due within one year

9

-

(3,056)

Net current assets

 

13,910

1,119

Total assets less current liabilities

 

176,410

87,119

Creditors: Amounts falling due after more than one year

9

(173,573)

(75,211)

Provisions for liabilities

(3,509)

(1,710)

Net (liabilities)/assets

 

(672)

10,198

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

14,959

7,290

Retained earnings

(16,631)

1,908

Shareholders' (deficit)/funds

 

(672)

10,198

For the financial year ending 31 May 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.

Approved and authorised by the Board on 21 November 2024 and signed on its behalf by:
 

 

Rodak Property Ltd

(Registration number: 12618279)
Balance Sheet as at 31 May 2023 (continued)

.........................................
Mr Robert Frazer Knights
Director

.........................................
Mrs Dawn Marie Knights
Director

 

Rodak Property Ltd

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

1

General information

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

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the Board on 21 November 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 financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Properties

Over 5 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

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

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,000

4,000

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2022

22,000

22,000

At 31 May 2023

22,000

22,000

Depreciation

At 1 June 2022

8,000

8,000

Charge for the year

4,000

4,000

At 31 May 2023

12,000

12,000

Carrying amount

At 31 May 2023

10,000

10,000

At 31 May 2022

14,000

14,000

Included within the net book value of land and buildings above is £10,000 (2022 - £14,000) in respect of long leasehold land and buildings.
 

6

Investment properties

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

6

Investment properties (continued)

2023
£

At 1 June

72,000

Additions

70,531

Fair value adjustments

9,469

At 31 May

152,000

The fair value of the property has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Investments

2023
£

2022
£

Investments in joint ventures

500

-

Joint ventures

£

Cost

Additions

500

Provision

Carrying amount

At 31 May 2023

500

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

677

100

Amounts owed by related parties

9,097

2,671

Prepayments

 

581

-

Other debtors

 

-

551

   

10,355

3,322

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

1,458

Taxation and social security

-

1,598

-

3,056

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

173,573

75,211

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

7,669

7,669

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

7,290

7,290

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

100,866

-

Other borrowings

72,707

75,211

173,573

75,211