Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-12The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2024-01-01No description of principal activityfalse2834falsefalse 10490546 2024-01-01 2024-12-31 10490546 2023-01-01 2023-12-31 10490546 2024-12-31 10490546 2023-12-31 10490546 c:Director1 2024-01-01 2024-12-31 10490546 d:PlantMachinery 2024-01-01 2024-12-31 10490546 d:PlantMachinery 2024-12-31 10490546 d:PlantMachinery 2023-12-31 10490546 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10490546 d:FurnitureFittings 2024-01-01 2024-12-31 10490546 d:FurnitureFittings 2024-12-31 10490546 d:FurnitureFittings 2023-12-31 10490546 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10490546 d:OfficeEquipment 2024-01-01 2024-12-31 10490546 d:OfficeEquipment 2024-12-31 10490546 d:OfficeEquipment 2023-12-31 10490546 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10490546 d:ComputerEquipment 2024-01-01 2024-12-31 10490546 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 10490546 d:OtherPropertyPlantEquipment 2024-12-31 10490546 d:OtherPropertyPlantEquipment 2023-12-31 10490546 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10490546 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 10490546 d:CurrentFinancialInstruments 2024-12-31 10490546 d:CurrentFinancialInstruments 2023-12-31 10490546 d:Non-currentFinancialInstruments 2024-12-31 10490546 d:Non-currentFinancialInstruments 2023-12-31 10490546 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 10490546 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10490546 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 10490546 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10490546 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 10490546 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10490546 d:ShareCapital 2024-12-31 10490546 d:ShareCapital 2023-12-31 10490546 d:RetainedEarningsAccumulatedLosses 2024-12-31 10490546 d:RetainedEarningsAccumulatedLosses 2023-12-31 10490546 c:FRS102 2024-01-01 2024-12-31 10490546 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10490546 c:FullAccounts 2024-01-01 2024-12-31 10490546 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10490546 6 2024-01-01 2024-12-31 10490546 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 10490546









RHODES CONSULTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
RHODES CONSULTING LIMITED
REGISTERED NUMBER: 10490546

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,084
22,873

Investments
 5 
153,642
153,642

  
169,726
176,515

Current assets
  

Debtors: amounts falling due within one year
 6 
302,634
372,612

Cash at bank and in hand
 7 
256,119
36,103

  
558,753
408,715

Creditors: amounts falling due within one year
 8 
(389,677)
(314,798)

Net current assets
  
 
 
169,076
 
 
93,917

Total assets less current liabilities
  
338,802
270,432

Creditors: amounts falling due after more than one year
 9 
(167,798)
(176,667)

  

Net assets
  
171,004
93,765


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
170,904
93,665

  
171,004
93,765


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 income and retained earnings 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: 

Page 1

 
RHODES CONSULTING LIMITED
REGISTERED NUMBER: 10490546
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024







Mr Michael Rhodes
Director

Date: 12 May 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Rhodes Consulting Limited (company number 10490546) is a private company limited by shares, registered in England and Wales.  Its registered office is at Bushbury House, 435 Wilmslow Road, Withington, Manchester, M20 4AF.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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 4

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

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.

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:

Plant and machinery
-
33%
Straight Line
Office equipment
-
33%
Straight Line
Computer equipment
-
33%
Straight Line
Other fixed assets
-
50%
Straight line

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.

 
2.9

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 balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.

 
2.11

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.

Page 5

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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
Page 6

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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
Page 7

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


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

 
2.14

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 28 (2023 - 34).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
7,375
20,045
73,790
15,841
117,051


Additions
-
708
546
-
1,254



At 31 December 2024

7,375
20,753
74,336
15,841
118,305



Depreciation


At 1 January 2024
6,444
15,858
56,035
15,841
94,178


Charge for the year on owned assets
310
1,631
6,102
-
8,043



At 31 December 2024

6,754
17,489
62,137
15,841
102,221



Net book value



At 31 December 2024
621
3,264
12,199
-
16,084



At 31 December 2023
931
4,187
17,755
-
22,873

Page 8

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
153,642



At 31 December 2024
153,642





6.


Debtors

2024
2023
£
£


Trade debtors
179,705
264,683

Amounts owed by group undertakings
43,929
43,929

Other debtors
65,667
64,000

Prepayments and accrued income
13,333
-

302,634
372,612



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
256,119
36,103

256,119
36,103


Page 9

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
107,890
80,000

Trade creditors
17,854
6,815

Other taxation and social security
164,414
180,684

Other creditors
85,616
32,555

Accruals and deferred income
13,903
14,744

389,677
314,798



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
167,798
176,667

167,798
176,667


Included in bank loans is an amount of £47,500 (2023: £77,500) unsecured Coronavirus Business Interruption Loan. Interest is charged at the rate of 2.5% pa and the UK government guarantees 80% of the loan under the CBILS rules.
Included in bank loans is an unsecured loan in the amount of £228,188 (2023: £179,167).

Page 10

 
RHODES CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
107,890
80,000


107,890
80,000


Amounts falling due 2-5 years

Bank loans
167,798
176,667


167,798
176,667


275,688
256,667



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £17,865 (2023 - £27,217) .Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Transactions with directors

Included within other creditors due within one year was an amount £660 (2023: £637) due to the director. No interest has been charged on the loan and its repayable on demand.


13.


Related party transactions

Included within admin expenses is a management charge from subsidiary Applyzer in the amount of £(8,594) (2023: £39,474). 
Included within debtors due within one year is an amount due from subsidiary Applyzer in the amount of £43,929 (2023: £43,929). The loan is interest free.

 
Page 11