Company Registration No. 12335006 (England and Wales)
Davies Roden Limited
Unaudited financial statements
for the year ended 30 November 2025
Pages for filing with the registrar
Davies Roden Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Davies Roden Limited
Statement of financial position
As at 30 November 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
5,000,000
5,000,000
Current assets
Debtors
5
177,603
117,336
Cash at bank and in hand
551,761
492,193
729,364
609,529
Creditors: amounts falling due within one year
6
(1,799,940)
(1,817,648)
Net current liabilities
(1,070,576)
(1,208,119)
Total assets less current liabilities
3,929,424
3,791,881
Creditors: amounts falling due after more than one year
7
(2,367,522)
(2,441,087)
Net assets
1,561,902
1,350,794
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,561,802
1,350,694
Total equity
1,561,902
1,350,794

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Davies Roden Limited
Statement of financial position (continued)
As at 30 November 2025
2
The financial statements were approved by the board of directors and authorised for issue on 1 June 2026 and are signed on its behalf by:
2026-06-01
Stuart Roden
Peter Davies
Director
Director
Company Registration No. 12335006
Davies Roden Limited
Notes to the financial statements
For the year ended 30 November 2025
3
1
Accounting policies
Company information

Davies Roden Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover in the form of rent is receivable under lease agreements on investment properties owned by the company. The rent is recognised net of VAT, over the period of the lease on a straight line basis.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Davies Roden Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
1
Accounting policies (continued)
4
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Davies Roden Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
5
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 December 2024 and 30 November 2025
5,000,000

Investment property comprises £5,000,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 18 May 2022 by Carter Jonas Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The company directors have confirmed that the £5,000,000 valuation is still appropriate as at 30 November 202 5.

On an historical costs basis, investment properties would have been held at £4,994,406 (2024 - £4,994,406).

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
82,461
8,520
Other debtors
95,142
108,816
177,603
117,336
Davies Roden Limited
Notes to the financial statements (continued)
For the year ended 30 November 2025
6
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,325
-
0
Taxation and social security
97,332
136,368
Other creditors
1,699,283
1,681,280
1,799,940
1,817,648
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,367,522
2,441,087

Bank loans and overdrafts totalling £2,367,522 (2024: £2,441,087) are secured by way of legal charges on the company's investment property and by way of floating charge of all property, assets and rights of the company present and future; not subject to a fixed charge.

8
Related party transactions

During the reporting period, management fees totalling £9,823 (2024 - £9,364) was payable to TK Nominees Limited, a connected company in which Anthony Khalastchi has significant influence.

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