Rhodes Foods Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 00995962 (England and Wales)

Financial Statements for the Year Ended 31 March 2022

for

Rhodes Foods Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountant

7

DIRECTORS:

Mrs Jane Elisabeth Hogben

Mr Michael Fergus Rhodes

Mrs Betty Rhodes

Mrs Sally Louise Taylor

SECRETARY:

Mrs Sally Louise Taylor

REGISTERED OFFICE:

90 Walton Road

East Molesey

Surrey

KT8 0DL

REGISTERED NUMBER:

00995962 (England and Wales)

ACCOUNTANT:

Marden & Co Accountants Limited

45 Nork Way

Banstead

Surrey

SM7 1PB

FIXED ASSETS

Tangible assets

4

1,660,575

1,651,472

CURRENT ASSETS

Stocks

29,858

22,530

Debtors

27,593

39,493

Cash at bank

315,301

240,251

372,752

302,274

CREDITORS

Amounts falling due within one year

265,140

266,161

NET CURRENT ASSETS

107,612

36,113

TOTAL ASSETS LESS CURRENT LIABILITIES

1,768,187

1,687,585

PROVISIONS FOR LIABILITIES

191,226

191,226

NET ASSETS

1,576,961

1,496,359

CAPITAL AND RESERVES

Called up share capital

5

965

965

Revaluation reserve

6

1,073,595

1,073,595

Retained earnings

502,401

421,799

SHAREHOLDERS' FUNDS

1,576,961

1,496,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

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 year ended 31 March 2022 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 10 October 2022 and were signed on its behalf by:

Mr Michael Fergus Rhodes - Director

1.	STATUTORY INFORMATION

Rhodes Foods 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 88 (2021 - 107 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2021

3,224,454

Additions

52,648

Disposals

(47,681

)

At 31 March 2022

3,229,421

DEPRECIATION

At 1 April 2021

1,572,982

Charge for year

40,163

Eliminated on disposal

(44,299

)

At 31 March 2022

1,568,846

NET BOOK VALUE

At 31 March 2022

1,660,575

At 31 March 2021

1,651,472

Cost or valuation at 31 March 2022 is represented by:

Totals

£

Valuation in 2018

3,287,108

Valuation in 2019

(4,916

)

Valuation in 2020

(57,528

)

Valuation in 2021

(210

)

Valuation in 2022

4,967

3,229,421

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

824,427

824,427

Aggregate depreciation

257,872

257,872

Value of land in freehold land and buildings

566,555

566,555

Freehold land and buildings were valued on an open market basis on 24 July 2018 by Bonsors Chartered Surveyors .

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

965

Ordinary Shares

£1

965

965

6.

RESERVES

Revaluation

reserve

£

At 1 April 2021

and 31 March 2022

1,073,595

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2022 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Marden & Co Accountants Limited

45 Nork Way

Banstead

Surrey

SM7 1PB

10 October 2022