Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false3true2023-05-01No description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01416741 2023-05-01 2024-04-30 01416741 2022-05-01 2023-04-30 01416741 2024-04-30 01416741 2023-04-30 01416741 c:CompanySecretary1 2023-05-01 2024-04-30 01416741 c:Director1 2023-05-01 2024-04-30 01416741 c:Director2 2023-05-01 2024-04-30 01416741 c:RegisteredOffice 2023-05-01 2024-04-30 01416741 d:PlantMachinery 2023-05-01 2024-04-30 01416741 d:PlantMachinery 2024-04-30 01416741 d:PlantMachinery 2023-04-30 01416741 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01416741 d:MotorVehicles 2023-05-01 2024-04-30 01416741 d:MotorVehicles 2024-04-30 01416741 d:MotorVehicles 2023-04-30 01416741 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01416741 d:FurnitureFittings 2023-05-01 2024-04-30 01416741 d:FurnitureFittings 2024-04-30 01416741 d:FurnitureFittings 2023-04-30 01416741 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01416741 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01416741 d:FreeholdInvestmentProperty 2023-05-01 2024-04-30 01416741 d:FreeholdInvestmentProperty 2024-04-30 01416741 d:FreeholdInvestmentProperty 2023-04-30 01416741 d:FreeholdInvestmentProperty 2 2023-05-01 2024-04-30 01416741 d:CurrentFinancialInstruments 2024-04-30 01416741 d:CurrentFinancialInstruments 2023-04-30 01416741 d:Non-currentFinancialInstruments 2024-04-30 01416741 d:Non-currentFinancialInstruments 2023-04-30 01416741 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01416741 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01416741 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 01416741 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 01416741 d:ShareCapital 2024-04-30 01416741 d:ShareCapital 2023-04-30 01416741 d:SharePremium 2024-04-30 01416741 d:SharePremium 2023-04-30 01416741 d:RetainedEarningsAccumulatedLosses 2024-04-30 01416741 d:RetainedEarningsAccumulatedLosses 2023-04-30 01416741 c:OrdinaryShareClass1 2023-05-01 2024-04-30 01416741 c:OrdinaryShareClass1 2024-04-30 01416741 c:OrdinaryShareClass1 2023-04-30 01416741 c:FRS102 2023-05-01 2024-04-30 01416741 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 01416741 c:FullAccounts 2023-05-01 2024-04-30 01416741 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01416741 6 2023-05-01 2024-04-30 01416741 f:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 01416741


 

RODD PROPERTIES LIMITED
 
UNAUDITED
 
ANNUAL REPORT
 
FOR THE YEAR ENDED 30 APRIL 2024

 
RODD PROPERTIES LIMITED
 

COMPANY INFORMATION


Directors
M J Harvey 
C L J O'Driscoll 




Company secretary
M J Harvey



Registered number
01416741



Registered office
23 Oatlands Drive

Weybridge

KT13 9LZ




Accountants
Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA





 
RODD PROPERTIES LIMITED
 

CONTENTS



Page
Accountants' Report
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 10


 
RODD PROPERTIES LIMITED
REGISTERED NUMBER: 01416741

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
58,235
77,337

Investments
 6 
486,619
480,619

Investment property
 7 
9,859,414
9,430,000

  
10,404,268
9,987,956

Current assets
  

Debtors: falling within one year
 8 
155,791
138,577

Cash at bank and in hand
  
122,899
128,078

  
278,690
266,655

Creditors: falling within one year
 9 
(587,503)
(543,491)

Net current liabilities
  
 
 
(308,813)
 
 
(276,836)

Total assets less current liabilities
  
10,095,455
9,711,120

Creditors: amounts falling due after more than one year
 10 
(2,518,930)
(2,596,788)

Provisions for liabilities
  

Deferred tax
  
(1,143,201)
(1,037,559)

Other provisions
  
-
(17,800)

  
 
 
(1,143,201)
 
 
(1,055,359)

Net assets
  
6,433,324
6,058,973


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Share premium account
  
2,756,297
2,756,297

Profit and loss account
  
3,676,027
3,301,676

  
6,433,324
6,058,973


Page 1

 
RODD PROPERTIES LIMITED
REGISTERED NUMBER: 01416741

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.

The 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: 




................................................
M J Harvey
Director

Date: 27 January 2025

Page 2

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Rodd Properties 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

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 
2.3

Turnover

Turnover represents amounts receivable for rent and services provided in the year and is stated net of VAT.

 
2.4

Tangible fixed assets

Motor Vehicles - 4 years reducing balance
Plant and Machinery - 25% straight line

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Pensions

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.

Page 3

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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 balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Investment property

Investment property is included at fair value. Gains and losses are recognised in the income statement.

 
2.9

Investment in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

Page 4

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts
Page 5

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


3.


Significant judgements and estimates

In the application of the company's accounting polices the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The following areas are subject to significant judgement:
- Depreciation
- Investment property valuation
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Page 6

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023: 3).


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
16,045
154,339
7,506
177,890


Additions
3,864
-
-
3,864


Disposals
(5,904)
(100)
-
(6,004)



At 30 April 2024

14,005
154,239
7,506
175,750



Depreciation


At 1 May 2023
1,798
98,688
67
100,553


Charge for the year
4,168
13,913
1,877
19,958


Disposals
(2,952)
(44)
-
(2,996)



At 30 April 2024

3,014
112,557
1,944
117,515



Net book value



At 30 April 2024
10,991
41,682
5,562
58,235



At 30 April 2023
14,247
55,651
7,439
77,337


6.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 May 2023
388,849
91,770
480,619


Additions
-
6,000
6,000



At 30 April 2024
388,849
97,770
486,619




Page 7

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
9,430,000


Additions at cost
6,845


Surplus on revaluation
422,568



At 30 April 2024
9,859,413

The 2024 valuations were made by Avison Young, on an open market value for existing use basis.

Investment property comprises of seven properties. The fair value of the investment property has been arrived at on the basis of valuations carried out by Avison Young, a global commercial real estate services firm. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The Director has assessed this when attributing a market value to the properties as at 30 April 2024.





8.


Debtors

2024
2023
£
£


Trade debtors
67,978
59,077

Other debtors
78,252
58,036

Prepayments and accrued income
9,561
21,464

155,791
138,577


Page 8

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
237,918
225,743

Trade creditors
50,734
54,326

Amounts owed to group undertakings
42,695
42,695

Corporation tax
42,807
-

Other taxation and social security
43,155
40,114

Obligations under finance lease and hire purchase contracts
-
15,151

Other creditors
59,469
57,828

Accruals and deferred income
110,725
107,634

587,503
543,491



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,421,840
2,516,966

Other creditors
97,090
79,822

2,518,930
2,596,788


The following liabilities were secured:

2024
2023
£
£



Bank loans
2,679,758
2,742,709

2,679,758
2,742,709

Details of security provided:

The long term loans are secured by a first legal charge over both freehold and leasehold properties.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023: 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 9

 
RODD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.

Non distributable reserves

2024
2023
        £
        £
At the beginning and end of the year

3,522,598

3,178,248


3,522,598

3,178,248


Included within profit and loss reserves are non-distributable profits relating to the uplift of fair vaoue of the investment property, as set out above.
Amount distributable as at the balance sheet date is £196,136 (2023: £101,728).


Page 10