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Registration number: 11519159

RDL Coventry Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

RDL Coventry Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

RDL Coventry Ltd

Company Information

Directors

Mr Robert James William Little

Mrs Debbie Rowley Little

Registered office

Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

RDL Coventry Ltd

Directors' Report for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Robert James William Little

Mrs Debbie Rowley Little

Principal activity

The principal activity of the company is that of a holding company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 17 May 2025 and signed on its behalf by:

.........................................
Mr Robert James William Little
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
RDL Coventry Ltd
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RDL Coventry Ltd for the year ended 31 October 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of RDL Coventry Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of RDL Coventry Ltd and state those matters that we have agreed to state to the Board of Directors of RDL Coventry Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RDL Coventry Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that RDL Coventry Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of RDL Coventry Ltd. You consider that RDL Coventry Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of RDL Coventry Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

17 May 2025

 

RDL Coventry Ltd

(Registration number: 11519159)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

10,663

15,994

Investments

7

66,353

66,717

 

77,016

82,711

Current assets

 

Debtors

8

111,853

97,451

Cash at bank and in hand

 

3,265

6,878

 

115,118

104,329

Creditors: Amounts falling due within one year

9

(97,716)

(90,911)

Net current assets

 

17,402

13,418

Net assets

 

94,418

96,129

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

94,318

96,029

Shareholders' funds

 

94,418

96,129

For the financial year ending 31 October 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 17 May 2025 and signed on its behalf by:
 

.........................................
Mr Robert James William Little
Director

 

RDL Coventry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

These financial statements were authorised for issue by the Board on 17 May 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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

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:

 

RDL Coventry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

RDL Coventry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

4

Related party transactions

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.

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,332

5,331

Income from shares in group undertakings

(50,000)

(120,000)

6

Tangible assets

Leasehold Property Improvements
 £

Total
£

Cost or valuation

At 1 November 2023

21,325

21,325

At 31 October 2024

21,325

21,325

Depreciation

At 1 November 2023

5,331

5,331

Charge for the year

5,331

5,331

At 31 October 2024

10,662

10,662

Carrying amount

At 31 October 2024

10,663

10,663

At 31 October 2023

15,994

15,994

 

RDL Coventry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Investments

2024
£

2023
£

Investments in subsidiaries

66,353

66,717

Subsidiaries

£

Cost or valuation

At 1 November 2023

66,717

Revaluation

(364)

At 31 October 2024

66,353

Provision

Carrying amount

At 31 October 2024

66,353

At 31 October 2023

66,717

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Coventry Motor Factors Limited

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

England

Ordinary

100%

100%

Subsidiary undertakings

Coventry Motor Factors Limited

The principal activity of Coventry Motor Factors Limited is supply of car parts.

 

RDL Coventry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

4

107,733

93,331

Prepayments

 

120

120

Other debtors

 

4,000

4,000

 

111,853

97,451

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

327

229

Taxation and social security

 

5,150

4,360

Other creditors

 

92,239

86,322

 

97,716

90,911

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

11

Reserves

2024
 £

2023
 £

Distributable reserves

347,965

349,312

Non-distributable reserves

(253,647)

(253,283)

94,318

96,029

The non-distributable reserves are used to record the increases in the fair value of investments and decreases to the extent that such decreases relates to an increase on the same assets.