Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01false3No description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12675839 2023-04-01 2024-03-31 12675839 2022-04-01 2023-03-31 12675839 2024-03-31 12675839 2023-03-31 12675839 c:Director1 2023-04-01 2024-03-31 12675839 d:OfficeEquipment 2023-04-01 2024-03-31 12675839 d:OfficeEquipment 2024-03-31 12675839 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12675839 d:ComputerEquipment 2023-04-01 2024-03-31 12675839 d:ComputerEquipment 2024-03-31 12675839 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12675839 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12675839 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 12675839 d:FreeholdInvestmentProperty 2024-03-31 12675839 d:FreeholdInvestmentProperty 2023-03-31 12675839 d:CurrentFinancialInstruments 2024-03-31 12675839 d:CurrentFinancialInstruments 2023-03-31 12675839 d:Non-currentFinancialInstruments 2024-03-31 12675839 d:Non-currentFinancialInstruments 2023-03-31 12675839 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12675839 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12675839 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12675839 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12675839 d:ShareCapital 2024-03-31 12675839 d:ShareCapital 2023-03-31 12675839 d:RetainedEarningsAccumulatedLosses 2024-03-31 12675839 d:RetainedEarningsAccumulatedLosses 2023-03-31 12675839 c:FRS102 2023-04-01 2024-03-31 12675839 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12675839 c:FullAccounts 2023-04-01 2024-03-31 12675839 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12675839 4 2023-04-01 2024-03-31 12675839 6 2023-04-01 2024-03-31 12675839 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12675839









RHODOS PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RHODOS PROPERTIES LTD
REGISTERED NUMBER: 12675839

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,107
-

Investments
 5 
131
211

Investment property
 6 
-
118,160

  
3,238
118,371

Current assets
  

Debtors: amounts falling due within one year
 7 
4,728,877
6,025,496

Cash at bank and in hand
 8 
28,842
287,302

  
4,757,719
6,312,798

Creditors: amounts falling due within one year
 9 
(187,256)
(1,936,572)

Net current assets
  
 
 
4,570,463
 
 
4,376,226

Total assets less current liabilities
  
4,573,701
4,494,597

Creditors: amounts falling due after more than one year
 10 
(4,459,938)
(5,000,000)

  

Net assets/(liabilities)
  
113,763
(505,403)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
113,663
(505,503)

  
113,763
(505,403)


Page 1

 
RHODOS PROPERTIES LTD
REGISTERED NUMBER: 12675839
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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: 




F G Roberts
Director

Date: 28 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Rhodos Properties Ltd is a private company limited by share capital, incorporated in England and Wales (registered number: 12675839). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Page 4

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
600
2,665
3,265



At 31 March 2024

600
2,665
3,265



Depreciation


Charge for the year on owned assets
20
138
158



At 31 March 2024

20
138
158



Net book value



At 31 March 2024
580
2,527
3,107

Page 6

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
211


Additions
22


Disposals
(102)



At 31 March 2024
131





6.


Investment property


Freehold investment property

£





At 1 April 2023
118,160


Disposals
(118,160)



At 31 March 2024
-

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
-
118,160

-
118,160

Page 7

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
6,225
-

Amounts owed by group undertakings
4,464,752
5,958,734

Other debtors
245,110
-

Prepayments and accrued income
12,790
66,762

4,728,877
6,025,496



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
28,842
287,302

28,842
287,302



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
69,317
22,001

Amounts owed to group undertakings
-
1,857,904

Corporation tax
76,028
700

Other taxation and social security
38,163
17,084

Other creditors
748
468

Accruals and deferred income
3,000
38,415

187,256
1,936,572


Page 8

 
RHODOS PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
-
5,000,000

Amounts owed to group undertakings
4,459,938
-

4,459,938
5,000,000


 
Page 9