Company registration number 04164140 (England and Wales)
D.L. RHODES AND SON LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
PAGES FOR FILING WITH REGISTRAR
D.L. RHODES AND SON LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
D.L. RHODES AND SON LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 1 -

The directors present their annual report and financial statements for the year ended 28 February 2026.

Principal activities

The principal activity of the company continued to be that of property development.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

N Rhodes
T Rhodes
R Hancock
P Leivers
J Northmore
K Rhodes
D Rhodes
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
N Rhodes
Director
20 July 2026
D.L. RHODES AND SON LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2026
28 February 2026
- 2 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
42,000
47,250
Tangible assets
5
475,515
373,323
Investment property
6
893,509
893,509
1,411,024
1,314,082
Current assets
Stocks
35,000
30,000
Debtors
7
2,496,125
2,669,523
Cash at bank and in hand
958,146
966,734
3,489,271
3,666,257
Creditors: amounts falling due within one year
8
(852,497)
(1,153,582)
Net current assets
2,636,774
2,512,675
Total assets less current liabilities
4,047,798
3,826,757
Creditors: amounts falling due after more than one year
9
-
0
(47,259)
Provisions for liabilities
(125,348)
(114,792)
Net assets
3,922,450
3,664,706
Capital and reserves
Called up share capital
125
125
Profit and loss reserves
3,922,325
3,664,581
Total equity
3,922,450
3,664,706
D.L. RHODES AND SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2026
28 February 2026
- 3 -

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 July 2026 and are signed on its behalf by:
N Rhodes
Director
Company registration number 04164140 (England and Wales)
D.L. RHODES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 4 -
1
Accounting policies
Company information

D.L. Rhodes And Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Quayside Court, Colwick Quays Business Park, Road No.2, Colwick, Nottingham, NG4 2SR. The company registration number is 04164140.

1.1
Accounting convention

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.The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Other intangible
10% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Office equipment
20% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

D.L. RHODES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 5 -
1.5
Investment properties

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.

1.6
Stocks

Work in progress is valued at the lower of cost and net realisable value.

Work in progress and related profit is calculated based on the proportion of the work carried out at the year end as a percentage of the final contract value.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

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.

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.

1.9
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.

1.10
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 profit and loss account 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.

D.L. RHODES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 6 -
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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
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:

2026
2025
Number
Number
Total
12
14
D.L. RHODES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 7 -
4
Intangible fixed assets
Other intangible
£
Cost
At 1 March 2025 and 28 February 2026
52,500
Amortisation and impairment
At 1 March 2025
5,250
Amortisation charged for the year
5,250
At 28 February 2026
10,500
Carrying amount
At 28 February 2026
42,000
At 28 February 2025
47,250
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2025
423,211
34,096
24,202
369,273
850,782
Additions
24,446
1,150
14,028
205,750
245,374
Disposals
(21,866)
-
0
-
0
(18,728)
(40,594)
At 28 February 2026
425,791
35,246
38,230
556,295
1,055,562
Depreciation and impairment
At 1 March 2025
272,470
24,741
2,285
177,963
477,459
Depreciation charged in the year
51,058
3,943
5,384
82,797
143,182
Eliminated in respect of disposals
(21,866)
-
0
-
0
(18,728)
(40,594)
At 28 February 2026
301,662
28,684
7,669
242,032
580,047
Carrying amount
At 28 February 2026
124,129
6,562
30,561
314,263
475,515
At 28 February 2025
150,741
9,355
21,917
191,310
373,323

D.L. RHODES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 8 -
6
Investment property
2026
£
Fair value
At 1 March 2025 and 28 February 2026
893,509

The current fair value reflected in the financial statements is considered appropriate by the director's and no formal external valuation is considered necessary.

7
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
80,327
424,313
Other debtors
2,359,548
2,208,218
Prepayments and accrued income
56,250
36,992
2,496,125
2,669,523
8
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
41,667
100,000
Obligations under finance leases
5,592
8,388
Trade creditors
332,234
247,363
Amounts owed to undertakings in which the company has a participating interest
54,357
326,430
Corporation tax
122,282
141,330
Other taxation and social security
38,093
10,107
Other creditors
128,051
300,668
Accruals and deferred income
130,221
19,296
852,497
1,153,582
9
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
-
0
41,667
Other creditors
-
0
5,592
-
0
47,259
D.L. RHODES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 9 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
52,500
40,000
11
Related party transactions

All transactions that took place were on normal commercial terms and on an arms length basis and therefore no further disclosure is required by FRS102 Section 1A.

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