A. Rhodes (Haulage) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01416760 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

A. RHODES (HAULAGE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Rhodes

Mrs B A Rhodes

M J Rhodes

SECRETARY:

Mrs B A Rhodes

REGISTERED OFFICE:

Grange Farm

Hazelbush Lane

Stockton on the Forest

York

YO32 9TR

REGISTERED NUMBER:

01416760 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Paul's House

23 Park Square

Leeds

LS1 2ND

FIXED ASSETS

Tangible assets

4

1,799,323

1,304,574

CURRENT ASSETS

Stocks

13,475

16,725

Debtors

5

1,377,117

1,866,374

Investments

6

1,703,079

1,671,991

Cash at bank and in hand

1,548,155

674,707

4,641,826

4,229,797

CREDITORS

Amounts falling due within one year

7

1,251,958

918,448

NET CURRENT ASSETS

3,389,868

3,311,349

TOTAL ASSETS LESS CURRENT LIABILITIES

5,189,191

4,615,923

CREDITORS

Amounts falling due after more than one year

8

-

(24,313

)

PROVISIONS FOR LIABILITIES

10

(733,500

)

(81,500

)

NET ASSETS

4,455,691

4,510,110

CAPITAL AND RESERVES

Called up share capital

90,460

90,460

Capital redemption reserve

10,210

10,210

Retained earnings

4,355,021

4,409,440

SHAREHOLDERS' FUNDS

4,455,691

4,510,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 December 2018 and were signed on its behalf by:

J Rhodes - Director

1.	STATUTORY INFORMATION

A. Rhodes (Haulage) 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.

The principal activity of the company in the year under review was that of haulage contracting.

The company continued its trade in film distribution rights as a member of the Varndean Road LLP, a limited

liability partnership registered in England and Wales whose accounting period is to 31 March 2018.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

15% on cost

Plant and machinery etc

-

20% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Employee benefit trusts (ebt's)

The company has established trusts for the benefit of employees and certain of their dependants. Monies held in

these trusts are held by independent trustees and managed at their discretion.

Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of

the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an

allocation of trust funds to employees in respect of past service is declared and the date that assets of the trust

vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past service to the

business and the company can obtain no future economic benefit from those monies, such monies, whether in the

trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

Investments in participating interests

Normal accounting practice under 'FRS102' would be to account for the company's interest in Varndean Road

LLP as a fixed asset investment at either cost less impairment, or market value. However, the directors consider

that in order to show a true and fair view the company's share of the results of Varndean Road LLP should be

accounted for in the profit and loss account and its share of net assets be accounted for within current assets on

the balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2017 - 34 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

91,071

3,051,752

3,142,823

Additions

-

795,825

795,825

Disposals

-

(378,005

)

(378,005

)

Reclassification/transfer

-

921,595

921,595

At 31 March 2018

91,071

4,391,167

4,482,238

DEPRECIATION

At 1 April 2017

85,776

1,752,473

1,838,249

Charge for year

5,234

595,975

601,209

Eliminated on disposal

-

(290,827

)

(290,827

)

Reclassification/transfer

-

534,284

534,284

At 31 March 2018

91,010

2,591,905

2,682,915

NET BOOK VALUE

At 31 March 2018

61

1,799,262

1,799,323

At 31 March 2017

5,295

1,299,279

1,304,574

Included above are fixed assets transferred at cost and accumulated depreciation from fellow subsidiary, White

Rose Transport Limited, on transfer of that company's trade and assets to A Rhodes Haulage Limited as part of a

group restructuring.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2017

and 31 March 2018

194,501

DEPRECIATION

At 1 April 2017

64,833

Charge for year

38,900

At 31 March 2018

103,733

NET BOOK VALUE

At 31 March 2018

90,768

At 31 March 2017

129,668

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,178,968

1,189,150

Amounts owed by group undertakings

-

548,000

Other debtors

198,149

129,224

1,377,117

1,866,374

6.	PARTNERSHIP NET CURRENT ASSETS

2018

2017

£

£

Listed investments

1,650,625

1,604,690

Partnership net current assets

52,454

67,301

1,703,079

1,671,991

PARTNERSHIP NET CURRENT ASSETS

Varndean Road LLP

2018

2017

£

£

Stocks

45,367

51,738

Debtors

5,830

14,270

Bank

1,344

1,293

Less Creditors

(88

)

-

Net Current Assets

52,453

67,301

Normal accounting practice would be to account for the company's interest in Varndean Road LLP as a fixed

asset investment at cost less impairment, or market valuation. Had this approach been adopted current asset

investments would be £52,453 lower and fixed asset investments £52,453 higher. In addition, the loss from

participating interests shown in the profit and loss account would be £14,833 lower and there would be a

revaluation loss of £14,833 in the statement of comprehensive income. The total change to net assets would be

£nil.

At 31 March 2018 the company held a 21.1% (2017: 20.4%) interest in Varndean Road LLP. The net assets and

loss of Varndean Road LLP for the accounting period ended on that date were £249,237 (2017: £330,285) and

£152,820 (2017: £379,498) respectively.

Varndean Road LLP's registered office is at 3rd Floor Hanover House, 118 Queens Road, Brighton, East Sussex,

BN1 3XG from where copies of the accounts can be obtained.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

24,313

58,350

Trade creditors

515,263

445,496

Amounts owed to group undertakings

352,868

40,552

Taxation and social security

260,327

307,413

Other creditors

99,187

66,637

1,251,958

918,448

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

24,313

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

24,313

82,663

Hire purchase contracts are secured on the assets to which they relate.

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred taxation

118,500

81,500

Other provisions

615,000

-

733,500

81,500

Deferred

Other

tax

provisions

£

£

Balance at 1 April 2017

81,500

-

Provided during year

37,000

615,000

Balance at 31 March 2018

118,500

615,000

Other provisions represents the estimated amount payable by the company in respect of paye and NIC liabilities

and related interest, net of corporation tax deduction, in order to settle an HMRC enquiry into an Employee

Benefit Trust and remuneration scheme previously established by the company.

11.	RELATED PARTY DISCLOSURES

The company is located at Grange Farm, Stockton-on-the-Forest. The premises are owned by J Rhodes and Mrs

B A Rhodes, directors of the company. No rent was paid during this financial year or the previous financial year.

The agreement made for the use of the property is that costs are paid by the company and maintenance is carried

out as required.

At the year end the company owed £342,868 (2017: was owed £548,000) on loan account to A Rhodes Group

Limited, the parent company.

Included in Other creditors are amounts owed to the directors of £38,646 (2017: £nil).