IRIS Accounts Production v25.1.4.42 07220984 Board of Directors 1.4.23 27.9.24 27.9.24 false true false false false true false Ordinary 0.01000 48801 9000 186234 48801 48801 9000 186234 48801 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh072209842023-03-31072209842024-09-27072209842023-04-012024-09-27072209842022-03-31072209842022-04-012023-03-31072209842023-03-3107220984ns15:EnglandWales2023-04-012024-09-2707220984ns14:PoundSterling2023-04-012024-09-2707220984ns10:Director12023-04-012024-09-2707220984ns10:PrivateLimitedCompanyLtd2023-04-012024-09-2707220984ns10:SmallEntities2023-04-012024-09-2707220984ns10:AuditExempt-NoAccountantsReport2023-04-012024-09-2707220984ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-09-2707220984ns10:SmallCompaniesRegimeForAccounts2023-04-012024-09-2707220984ns10:AbridgedAccounts2023-04-012024-09-270722098412023-04-012024-09-2707220984ns10:OrdinaryShareClass12023-04-012024-09-270722098442ns10:Director22023-03-310722098442ns10:Director22022-03-310722098442ns10:Director22023-04-012024-09-270722098442ns10:Director22022-04-012023-03-310722098442ns10:Director22024-09-270722098442ns10:Director22023-03-3107220984ns10:Director22023-04-012024-09-2707220984ns10:Director32023-04-012024-09-2707220984ns10:Director42023-04-012024-09-2707220984ns10:RegisteredOffice2023-04-012024-09-2707220984ns5:CurrentFinancialInstruments2024-09-2707220984ns5:CurrentFinancialInstruments2023-03-3107220984ns5:Non-currentFinancialInstruments2024-09-2707220984ns5:Non-currentFinancialInstruments2023-03-3107220984ns5:ShareCapital2024-09-2707220984ns5:ShareCapital2023-03-3107220984ns5:RetainedEarningsAccumulatedLosses2024-09-2707220984ns5:RetainedEarningsAccumulatedLosses2023-03-3107220984ns5:NetGoodwill2023-04-012024-09-2707220984ns5:FurnitureFittings2023-04-012024-09-2707220984ns5:MotorVehicles2023-04-012024-09-2707220984ns5:ComputerEquipment2023-04-012024-09-2707220984ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-09-2707220984ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3107220984ns10:OrdinaryShareClass12024-09-27072209841ns10:Director12023-03-31072209841ns10:Director12022-03-31072209841ns10:Director12023-04-012024-09-27072209841ns10:Director12022-04-012023-03-31072209841ns10:Director12024-09-27072209841ns10:Director12023-03-31
REGISTERED NUMBER: 07220984 (England and Wales)












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: A R Rhodes
Mrs L R Rhodes
G S Lall
T Webster





REGISTERED OFFICE: Express Works
Luke Lane
Brailsford
Ashbourne
Derbyshire
DE6 3BY





REGISTERED NUMBER: 07220984 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
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 4,600,526 5,066,665
Property, plant and equipment 5 109,811 147,560
Investments 6 - 277,117
4,710,337 5,491,342

CURRENT ASSETS
Debtors 7 884,367 656,168
Prepayments and accrued income 10,252 6,608
Cash at bank and in hand 458,908 523,634
1,353,527 1,186,410
CREDITORS
Amounts falling due within one year 657,102 990,495
NET CURRENT ASSETS 696,425 195,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,406,762

5,687,257

CREDITORS
Amounts falling due after more than
one year

8

(1,879,758

)

(2,636,446

)

PROVISIONS FOR LIABILITIES (17,650 ) (25,000 )

ACCRUALS AND DEFERRED INCOME (170,952 ) (57,691 )
NET ASSETS 3,338,402 2,968,120

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 3,338,302 2,968,020
SHAREHOLDERS' FUNDS 3,338,402 2,968,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 September 2024 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 27 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 July 2025 and were signed on its behalf by:





A R Rhodes - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

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 22 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 6,416,660
Additions 16,335
At 27 September 2024 6,432,995
AMORTISATION
At 1 April 2023 1,349,995
Amortisation for period 482,474
At 27 September 2024 1,832,469
NET BOOK VALUE

At 27 September 2024 4,600,526
At 31 March 2023 5,066,665

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2023 332,414
Additions 6,939
At 27 September 2024 339,353
DEPRECIATION
At 1 April 2023 184,854
Charge for period 44,688
At 27 September 2024 229,542
NET BOOK VALUE
At 27 September 2024 109,811
At 31 March 2023 147,560

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 450,000 400,000

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: £    £   
10,000 Ordinary £0.01 100 100

11. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 10,512 10,635

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
£    £   
A R Rhodes and Mrs L R Rhodes
Balance outstanding at start of period 48,801 9,000
Amounts advanced 186,234 48,801
Amounts repaid (48,801 ) (9,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 186,234 48,801

£133k of the Directors loans was repaid on 23rd December 2024 and the balance on 17th February 2025.