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Registration number: 12618279

Rodak Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

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 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,000

10,000

Investment property

6

154,000

152,000

Investments

7

500

500

 

160,500

162,500

Current assets

 

Debtors

8

8,942

10,355

Cash at bank and in hand

 

1,356

3,555

 

10,298

13,910

Creditors: Amounts falling due within one year

9

(1,370)

-

Net current assets

 

8,928

13,910

Total assets less current liabilities

 

169,428

176,410

Creditors: Amounts falling due after more than one year

9

(221,251)

(173,573)

Provisions for liabilities

(3,889)

(3,509)

Net liabilities

 

(55,712)

(672)

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

16,578

14,959

Retained earnings

(73,290)

(16,631)

Shareholders' deficit

 

(55,712)

(672)

For the financial year ending 31 May 2024 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

 

Rodak Property Ltd

(Registration number: 12618279)
Balance Sheet as at 31 May 2024 (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 2024

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 24 February 2025.

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.

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.

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

Investment property

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 trained 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.

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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.

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.

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,000

4,000

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2023

22,000

22,000

At 31 May 2024

22,000

22,000

Depreciation

At 1 June 2023

12,000

12,000

Charge for the year

4,000

4,000

At 31 May 2024

16,000

16,000

Carrying amount

At 31 May 2024

6,000

6,000

At 31 May 2023

10,000

10,000

Included within the net book value of land and buildings above is £6,000 (2023 - £10,000) in respect of long leasehold land and buildings.
 

6

Investment properties

2024
£

At 1 June

152,000

Fair value adjustments

2,000

At 31 May

154,000

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

6

Investment properties (continued)

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

2024
£

2023
£

Investments in joint ventures

500

500

Joint ventures

£

Cost

At 1 June 2023

500

Provision

Carrying amount

At 31 May 2024

500

At 31 May 2023

500

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

677

Amounts owed by related parties

8,597

9,097

Prepayments

 

145

581

Other debtors

 

200

-

   

8,942

10,355

 

Rodak Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,370

-

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

221,251

173,573

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

1,619

1,619

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

7,669

7,669

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

100,870

100,866

Other borrowings

120,381

72,707

221,251

173,573