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RHEIDOL DEVELOPMENTS LTD.

Registered Number
03688935
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

RHEIDOL DEVELOPMENTS LTD.
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

JONES, Ian Alexander
JONES, Ruth Margaret

Company Secretary

JONES, Ruth Margaret

Registered Address

The Old Convent
Llanbadarn Road
Aberystwyth
SY23 1WX

Registered Number

03688935 (England and Wales)
RHEIDOL DEVELOPMENTS LTD.
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid9,9989,998
Fixed assets
Tangible assets3982,0511,011,743
982,0511,011,743
Current assets
Stocks42,265,0601,864,960
Debtors51,852107,602
Cash at bank and on hand14,219292,015
2,331,1312,264,577
Creditors amounts falling due within one year5(171,709)(199,945)
Net current assets (liabilities)2,169,4202,074,630
Total assets less current liabilities3,151,4713,086,373
Creditors amounts falling due after one year6(772,500)(763,011)
Provisions for liabilities8(18,171)-
Net assets2,360,8002,323,362
Capital and reserves
Called up share capital10,00010,000
Profit and loss account2,350,8002,313,362
Shareholders' funds2,360,8002,323,362
The financial statements were approved and authorised for issue by the Board of Directors on 1 May 2025, and are signed on its behalf by:
JONES, Ian Alexander
Director
Registered Company No. 03688935
RHEIDOL DEVELOPMENTS LTD.
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 January 24909,367244,43056,91615,9311,226,644
Additions-4,175-2294,404
At 31 December 24909,367248,60556,91616,1601,231,048
Depreciation and impairment
At 01 January 24-169,09932,28213,520214,901
Charge for year-26,3716,4791,24634,096
At 31 December 24-195,47038,76114,766248,997
Net book value
At 31 December 24909,36753,13518,1551,394982,051
At 31 December 23909,36775,33124,6342,4111,011,743
4.Stocks

2024

2023

££
Work in progress2,265,0601,864,960
Total2,265,0601,864,960
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,9978,059
Bank borrowings and overdrafts10,00010,000
Taxation and social security31,13227,493
Finance lease and HP contracts11,00011,000
Other creditors91,489140,308
Accrued liabilities and deferred income3,0913,085
Total171,709199,945
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,83415,833
Amounts owed to related parties359,000180,000
Other creditors407,666567,178
Total772,500763,011
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts7,66617,178
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)18,171-
Total18,171-
9.Related party transactions
The company owed it's directors £91,489 at the year end (2023 - £140,308). The loan is repayable on demand. Both Directors/Shareholders of Rheidol Developments Ltd are also Directors/Shareholders of Tairllyn Developments Ltd. There is a loan of £359,000 outstanding to Tairllyn Developments Ltd at the year end (2023 - £180,000). One of the Directors, Ian Jones is a Director/Shareholder of Lawrence and Williams Construction Ltd. During the year, Lawrence and Williams Construction Ltd completed most of the build work on the houses sold and in development, all transactions were under normal trading terms and conditions and were charged at full market value.