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Registered number: 12157154










RED LION PROPERTIES 1 LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 26 DECEMBER 2021

 
RED LION PROPERTIES 1 LIMITED
REGISTERED NUMBER: 12157154

STATEMENT OF FINANCIAL POSITION
AS AT 26 DECEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors
  
101
-

Cash at bank and in hand
  
49
-

  
150
-

Creditors: amounts falling due within one year
 5 
(150)
-

Net current assets
  
 
 
-
 
 
-

Total assets less current liabilities
  
-
-

  

Net assets
  
-
-


Capital and reserves
  

Called up share capital 
 6 
-
-

  
-
-


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


David John Altern Ramsey
Director

Date: 16 October 2023

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
RED LION PROPERTIES 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2021

1.


General information

Red Lion Properties 1 Limited is a private company limited by shares, registered in England and Wales under number 12157154. Its registered office is The Wool Barn, Peper Harow, Godalming, England, GU8 6BQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

 
RED LION PROPERTIES 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2020 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2020 - 0).


4.


Fixed asset investments













Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Red Lion Operations 1 Limited
The Wool Barn, Peper Harow, Godalming, England, GU8 6BQ
Ordinary
100%

Page 3

 
RED LION PROPERTIES 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2021

5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Amounts owed to group undertakings
150
-

150
-



6.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 (2020 - 1) Ordinary share of £0.01
-
-



7.


Related party transactions

The company has taken advantage of the exemption available under FRS 102 not to disclose transactions with wholly owned group members.


8.


Post balance sheet events

On 29 December 2022 the group entered into further funding arrangements under which the company became party to a fixed and floating charge over its assets in respect of group borrowings.


9.


Controlling party

The Company’s immediate parent is Red Lion Holdings 1 Limited and the the ultimate parent entity is Red Lion Holdings LLP, a limited liability partnership incorporated in England and Wales. The registered office address of Red Lion Holdings LLP is The Wool Barn, Peper Harow, Godalming, Surrey, GU8 6BQ. The smallest and largest group of which the Company is a member and for which group accounts are prepared is Red Lion Holdings LLP. Copies of these accounts are available from Companies House.
It is the opinion of the directors that there is no single controlling party of the company.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 26 December 2021 was unqualified.

The audit report was signed on 16 October 2023 by Emma Bernardez (Senior Statutory Auditor) on behalf of Haysmacintyre LLP.

Page 4