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Registered Number: 08651567
England and Wales

 

 

 

MR RED LION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2020

End date: 30 November 2021
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 5,887    11,241 
5,887    11,241 
Current assets      
Stocks 4,884    2,836 
Debtors 2,812    11,930 
Cash at bank and in hand 13,164    40,374 
20,860    55,140 
Creditors: amount falling due within one year (124,297)   (158,542)
Net current liabilities (103,437)   (103,402)
 
Total assets less current liabilities (97,550)   (92,161)
Creditors: amount falling due after more than one year (42,536)   (47,189)
Provisions for liabilities (1,119)   (2,136)
Net liabilities (141,205)   (141,486)
 

Capital and reserves
     
Called up share capital 120    120 
Profit and loss account (141,325)   (141,606)
Shareholder's funds (141,205)   (141,486)
 


For the year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 July 2022 and were signed by:


--------------------------------
T D Lince
Director
1
General Information
MR Red Lion Ltd is a private company, limited by shares, registered in England and Wales, registration number 08651567, registration address 17 Old Courts Road, Brigg, DN20 8JD.

The presentation currency is £ sterling and rounded to the nearest £. These financial statements cover the individual entity MR Red Lion Ltd.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Electrical & IT equipment 20% Straight Line
Fixtures and Fittings 20% Straight Line
Kitchen equipment 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2020 : 6).
3.

Tangible fixed assets

Cost or valuation Electrical & IT equipment   Fixtures and Fittings   Kitchen equipment   Total
  £   £   £   £
At 01 December 2020 11,046    7,819    13,627    32,492 
Additions 166    704    580    1,450 
Disposals      
At 30 November 2021 11,212    8,523    14,207    33,942 
Depreciation
At 01 December 2020 7,082    5,443    8,892    21,417 
Charge for year 2,242    1,612    2,784    6,638 
On disposals      
At 30 November 2021 9,324    7,055    11,676    28,055 
Net book values
Closing balance as at 30 November 2021 1,888    1,468    2,531    5,887 
Opening balance as at 01 December 2020 4,130    2,376    4,735    11,241 


4.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
2