| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 April 2023 to 27 September 2024 |
| for |
| Rhodes Wealth Management Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 April 2023 to 27 September 2024 |
| for |
| Rhodes Wealth Management Limited |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Contents of the Financial Statements |
| for the period 1 April 2023 to 27 September 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Rhodes Wealth Management Limited |
| Company Information |
| for the period 1 April 2023 to 27 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Cawley House |
| 149-155 Canal Street |
| Nottingham |
| Nottinghamshire |
| NG1 7HR |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Abridged Balance Sheet |
| 27 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Prepayments and accrued income |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Abridged Balance Sheet - continued |
| 27 September 2024 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Notes to the Financial Statements |
| for the period 1 April 2023 to 27 September 2024 |
| 1. | STATUTORY INFORMATION |
| Rhodes Wealth Management Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Credit is taken for commission on an earned basis. |
| Goodwill |
| Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.Goodwill is amortised over its useful life which shall not exceed ten years if a reliable estimate of the useful life cannot be made. |
| Goodwill is being amortised evenly over its estimated life of 20 years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Notes to the Financial Statements - continued |
| for the period 1 April 2023 to 27 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Listed investments |
| Listed investments are valued at market value with revaluation surplus /deficit taken to the profit and loss along with any profit/loss on sale |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2023 |
| Additions |
| At 27 September 2024 |
| AMORTISATION |
| At 1 April 2023 |
| Amortisation for period |
| At 27 September 2024 |
| NET BOOK VALUE |
| At 27 September 2024 |
| At 31 March 2023 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Totals |
| £ |
| COST |
| At 1 April 2023 |
| Additions |
| At 27 September 2024 |
| DEPRECIATION |
| At 1 April 2023 |
| Charge for period |
| At 27 September 2024 |
| NET BOOK VALUE |
| At 27 September 2024 |
| At 31 March 2023 |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Notes to the Financial Statements - continued |
| for the period 1 April 2023 to 27 September 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 April 2023 | 277,117 |
| Disposals | (277,117 | ) |
| At 27 September 2024 | - |
| NET BOOK VALUE |
| At 27 September 2024 | - |
| At 31 March 2023 | 277,117 |
| 7. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 2024 | 2023 |
| £ | £ |
| Repayable by instalments |
| Other loans more 5yrs instal | 680,443 | 737,709 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Other creditors | 2,121,020 | 3,171,246 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £0.01 | 100 | 100 |
| 11. | CAPITAL COMMITMENTS |
| 2024 | 2023 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| Rhodes Wealth Management Limited (Registered number: 07220984) |
| Notes to the Financial Statements - continued |
| for the period 1 April 2023 to 27 September 2024 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the period ended 27 September 2024 and the year ended 31 March 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of period |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period |
| £133k of the Directors loans was repaid on 23rd December 2024 and the balance on 17th February 2025. |