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Company No: 05488186 (England and Wales)

TOM RHODES & SONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

TOM RHODES & SONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

TOM RHODES & SONS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
TOM RHODES & SONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS Carl Patrick Rhodes
Paul Thomas Rhodes
Thomas Patrick Rhodes
REGISTERED OFFICE 4 Fulford Court Naburn Lane
Fulford
York
YO19 4RG
United Kingdom
COMPANY NUMBER 05488186 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
TOM RHODES & SONS LIMITED

BALANCE SHEET

As at 30 June 2024
TOM RHODES & SONS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 12,787 17,023
12,787 17,023
Current assets
Stocks 500 500
Debtors 5 30,189 74,484
Cash at bank and in hand 6 104,299 53,295
134,988 128,279
Creditors: amounts falling due within one year 7 ( 115,402) ( 124,416)
Net current assets 19,586 3,863
Total assets less current liabilities 32,373 20,886
Provision for liabilities ( 3,197) ( 3,235)
Net assets 29,176 17,651
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 29,076 17,551
Total shareholders' funds 29,176 17,651

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tom Rhodes & Sons Limited (registered number: 05488186) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

Carl Patrick Rhodes
Director
TOM RHODES & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
TOM RHODES & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tom Rhodes & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Fulford Court Naburn Lane, Fulford, York, YO19 4RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 32,000 32,000
At 30 June 2024 32,000 32,000
Accumulated amortisation
At 01 July 2023 32,000 32,000
At 30 June 2024 32,000 32,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 8,201 64,879 280 2,617 75,977
At 30 June 2024 8,201 64,879 280 2,617 75,977
Accumulated depreciation
At 01 July 2023 6,059 50,404 265 2,226 58,954
Charge for the financial year 321 3,619 2 294 4,236
At 30 June 2024 6,380 54,023 267 2,520 63,190
Net book value
At 30 June 2024 1,821 10,856 13 97 12,787
At 30 June 2023 2,142 14,475 15 391 17,023

5. Debtors

2024 2023
£ £
Trade debtors 26,558 71,286
Other debtors 3,631 3,198
30,189 74,484

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 104,299 53,295

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 11,477 18,213
Taxation and social security 39,402 27,160
Other creditors 64,523 79,043
115,402 124,416

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary A shares of £ 1.00 each 10 10
45 Ordinary B shares of £ 1.00 each 45 45
45 Ordinary C shares of £ 1.00 each 45 45
100 100