Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-3048320312022-07-01false41100 - Development of building projects 55100 - Hotels and similar accommodation 56210 - Event catering activities 56302 - Public houses and bars34truetrue 10598631 2022-07-01 2023-06-30 10598631 2021-07-01 2022-06-30 10598631 2023-06-30 10598631 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 10598631 c:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-30 10598631 2022-06-30 10598631 d:Director1 2022-07-01 2023-06-30 10598631 d:Director2 2022-07-01 2023-06-30 10598631 c:Buildings 2022-07-01 2023-06-30 10598631 c:Buildings 2023-06-30 10598631 c:Buildings 2022-06-30 10598631 c:Buildings c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10598631 c:Buildings c:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 10598631 c:Buildings c:LongLeaseholdAssets 2022-07-01 2023-06-30 10598631 c:Buildings c:LongLeaseholdAssets 2023-06-30 10598631 c:Buildings c:LongLeaseholdAssets 2022-06-30 10598631 c:PlantMachinery 2022-07-01 2023-06-30 10598631 c:PlantMachinery 2023-06-30 10598631 c:PlantMachinery 2022-06-30 10598631 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10598631 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 10598631 c:MotorVehicles 2022-07-01 2023-06-30 10598631 c:MotorVehicles 2023-06-30 10598631 c:MotorVehicles 2022-06-30 10598631 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10598631 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 10598631 c:FurnitureFittings 2022-07-01 2023-06-30 10598631 c:FurnitureFittings 2023-06-30 10598631 c:FurnitureFittings 2022-06-30 10598631 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10598631 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 10598631 c:OfficeEquipment 2022-07-01 2023-06-30 10598631 c:OfficeEquipment 2023-06-30 10598631 c:OfficeEquipment 2022-06-30 10598631 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10598631 c:OfficeEquipment c:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 10598631 c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10598631 c:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 10598631 c:CurrentFinancialInstruments 2023-06-30 10598631 c:CurrentFinancialInstruments 2022-06-30 10598631 c:Non-currentFinancialInstruments 2023-06-30 10598631 c:Non-currentFinancialInstruments 2022-06-30 10598631 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 10598631 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 10598631 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 10598631 c:Non-currentFinancialInstruments c:AfterOneYear 2022-06-30 10598631 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-06-30 10598631 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-06-30 10598631 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-06-30 10598631 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-06-30 10598631 c:ShareCapital 2023-06-30 10598631 c:ShareCapital 2022-06-30 10598631 c:RetainedEarningsAccumulatedLosses 2023-06-30 10598631 c:RetainedEarningsAccumulatedLosses 2022-06-30 10598631 d:OrdinaryShareClass1 2022-07-01 2023-06-30 10598631 d:OrdinaryShareClass1 2023-06-30 10598631 d:OrdinaryShareClass1 2022-06-30 10598631 d:OrdinaryShareClass2 2022-07-01 2023-06-30 10598631 d:OrdinaryShareClass2 2023-06-30 10598631 d:OrdinaryShareClass2 2022-06-30 10598631 d:OrdinaryShareClass3 2022-07-01 2023-06-30 10598631 d:OrdinaryShareClass3 2023-06-30 10598631 d:OrdinaryShareClass3 2022-06-30 10598631 d:OrdinaryShareClass4 2022-07-01 2023-06-30 10598631 d:OrdinaryShareClass4 2022-06-30 10598631 d:FRS102 2022-07-01 2023-06-30 10598631 d:Audited 2022-07-01 2023-06-30 10598631 d:FullAccounts 2022-07-01 2023-06-30 10598631 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10598631 c:HirePurchaseContracts c:WithinOneYear 2023-06-30 10598631 c:HirePurchaseContracts c:WithinOneYear 2022-06-30 10598631 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-06-30 10598631 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-06-30 10598631 d:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure

Company Registration Number 10598631























SEDBERGH HOTEL ENTERPRISES LIMITED





FINANCIAL STATEMENTS





 30 JUNE 2023

























img0389.png

 
SEDBERGH HOTEL ENTERPRISES LIMITED
REGISTERED NUMBER: 10598631

BALANCE SHEET
AS AT 30 JUNE 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,107,097
2,183,411

  
2,107,097
2,183,411

Current assets
  

Stocks
 5 
52,445
54,550

Debtors: amounts falling due within one year
 6 
12,760
22,573

Cash at bank and in hand
 7 
162,243
224,652

  
227,448
301,775

Creditors: amounts falling due within one year
 8 
(3,563,341)
(645,678)

Net current liabilities
  
 
 
(3,335,893)
 
 
(343,903)

Total assets less current liabilities
  
(1,228,796)
1,839,508

Creditors: amounts falling due after more than one year
 9 
(184,909)
(2,937,357)

  

Net liabilities
  
(1,413,705)
(1,097,849)


Capital and reserves
  

Called up share capital 
 12 
243,750
243,750

Profit and loss account
  
(1,657,455)
(1,341,599)

  
(1,413,705)
(1,097,849)


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 statement of comprehensive income 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: 


Richard Stenhouse
James Ratcliffe
Director
Director


Date: 1 March 2024
Date:1 March 2024

The notes on pages 2 to 12 form part of these financial statements.

Page 1

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Sedbergh Hotel Enterprises Limited is a private company limited by shares incorporated in the United Kingdom, the company registration number is 10598631.  The registered office address is The Black Bull Hotel, 44 Main Street, Sedbergh, LA10 5BL.
The financial statements have been presented in pound sterling.

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

Going concern

The directors have prepared forecasts through to June 2025 and have carefully considered the company’s ability to operate as a going concern. The company has continued to make losses in the current year as it has done in prior years however the directors are confident that measures put in place during the year and post year end will bring the company to a profitable position and allow the company to generate cash. 
Based on the current cash balance at the date of signing the financial statements and the future forecasts, the company has the cash available to continue to operate for a period of at least 12 months.  However, when the forecasts are stressed tested in various scenarios this identifies not unrealistic situations where there could be a cash shortfall.  To mitigate the risk in these scenarios the directors have also put into place contingency plans to generate the cash required if performance is not in line with the forecasts and to meet any shortfall. 
These plans include the sale of non-essential assets which are not currently being used to generate revenue, where buyers could be found easily for such assets.  This along with options to take repayment holidays on loans and the formal confirmation from a director that no repayments on their loan account will be required; give the directors the reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 2

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 3

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Freehold improvements
-
4%
Straight line
Equipment
-
25%
Reducing balance
Fixtures and fittings
-
20%
Straight line
Computers and Tills
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2022 - 34).

Page 5

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Freehold property
Property improve
ments
Plant and machinery
Motor vehicles
Fixtures   and   fittings
Office equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 July 2022
886,525
1,461,706
257,456
-
4,458
12,078
2,622,223


Additions
-
6,251
-
11,500
-
-
17,751


Disposals
-
-
(1,318)
-
-
(757)
(2,075)



At 30 June 2023

886,525
1,467,957
256,138
11,500
4,458
11,321
2,637,899



Depreciation


At 1 July 2022
29,193
229,777
169,330
-
2,162
8,350
438,812


Charge for the year on owned assets
9,731
48,320
3,087
-
1,081
1,242
63,461


Charge for the year on financed assets
-
-
30,093
-
-
-
30,093


Disposals
-
-
(990)
-
-
(574)
(1,564)



At 30 June 2023

38,924
278,097
201,520
-
3,243
9,018
530,802



Net book value



At 30 June 2023
847,601
1,189,860
54,618
11,500
1,215
2,303
2,107,097



At 30 June 2022
857,332
1,231,929
88,126
-
2,296
3,728
2,183,411

The Net Book Value of the assets currently held under hire purchase is £17,881 (2022: £23,841).

Page 6

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Stocks

2023
2022
£
£

Goods for resale
52,445
54,550

52,445
54,550



6.


Debtors

2023
2022
£
£


Trade debtors
-
1,379

Other debtors
159
742

Prepayments and accrued income
12,601
20,452

12,760
22,573



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
162,243
224,652

162,243
224,652


Page 7

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,014
9,768

Payments received on account
32,495
48,465

Trade creditors
94,133
109,964

Loan notes
3,056,271
166,132

Other taxation and social security
59,358
82,767

Obligations under finance lease and hire purchase contracts
3,438
20,403

Other creditors
101,014
88,060

Accruals and deferred income
206,618
120,119

3,563,341
645,678


The following liabilities were secured:

2023
2022
£
£



Bank loans
10,014
9,768

Net obligations under finance leases and hire purchase contracts
3,438
20,403

Loan Notes
3,056,271
166,132

3,069,723
196,303

Details of security provided:

The Loan Notes are secured by a Fixed Charge on the property and a Floating Charge over all other assets of the Company.
The A & B Loan Notes accrue interest at the higher of Bank of England Base Rate plus 1% and 6% per annum. Interest of £179,601 was accrued during the current year of which £nil was paid. 
C Loan Notes were issued in April 2020, these Loan Notes accrue interest at a rate of the higher of Bank of England Base Rate plus 2% and 3% per annum. Interest for the period up to 30 April 2023 of £6,736 was paid during the year with interest of £1,801 in respect of May and June 2023 accrued but not paid.
There are no fixed repayment dates for the Capital attached to the A & B Notes, no repayments can be made until the C Notes have been repaid. The company must make repayments out of after-tax profit each year (after retaining £50,000) but if there are no retained profits there is no repayment due.
The Bank Loan relates to a Bounceback Loan backed by the UK Government to assist businesses to continue trading once Coronavirus restrictions were lifted. The Bounceback Loan accrues interest at a rate of 2.5% per annum with the full amount of interest due during the year being paid.

Page 8

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Creditors: Amounts falling due after more than one year

As restated
2023
2022
£
£

Bank loans
19,908
28,801

Net obligations under finance leases and hire purchase contracts
-
3,438

Loan notes
165,001
2,905,118

184,909
2,937,357


The following liabilities were secured:

As restated
2023
2022
£
£



Bank loans
17,906
28,801

Net obligations under finance leases and hire purchase contracts
-
3,438

Loan notes
165,001
2,905,118

182,907
2,937,357

Details of security provided:

The Loan Notes are secured by a Fixed Charge on the property and a Floating Charge over all other assets of the Company.
The A & B Loan Notes accrue interest at the higher of Bank of England Base Rate plus 1% and 6% per annum. Interest of £179,601 was accrued during the current year of which £nil was paid. 
C Loan Notes were issued in April 2020, these Loan Notes accrue interest at a rate of the higher of Bank of England Base Rate plus 2% and 3% per annum. Interest for the period up to 30 April 2023 of £6,736 was paid during the year with interest of £1,801 in respect of May and June 2023 accrued but not paid.
There are no fixed repayment dates for the Capital attached to the A & B Notes, no repayments can be made until the C Notes have been repaid. The company must make repayments out of after-tax profit each year (after retaining £50,000) but if there are no retained profits there is no repayment due.
The Bank Loan relates to a Bounceback Loan backed by the UK Government to assist businesses to continue trading once Coronavirus restrictions were lifted. The Bounceback Loan accrues interest at a rate of 2.5% per annum with the full amount of interest due during the year being paid.

Page 9

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,014
9,768


10,014
9,768

Amounts falling due 1-2 years

Bank loans
10,268
10,015


10,268
10,015

Amounts falling due 2-5 years

Bank loans
9,641
18,786


9,641
18,786


29,923
38,569



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
3,438
20,403

Between 1-5 years
-
3,438

3,438
23,841

Page 10

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



87,500 (2022 - 87,500) Ordinary A Shares shares of £1.0 each
87,500
87,500
68,750 (2022 - 68,750) Ordinary B Shares shares of £1.0 each
68,750
68,750
87,500 (2022 - 75,000) Ordinary C Shares shares of £1.0 each
87,500
75,000
0 (2022 - 12,500) Ordinary Shares shares of £1.0 each
-
12,500

243,750

243,750

The A Ordinary, B Ordinary and C Ordinary Shares rank pari passu in all respects but constitute separate classes of shares. On a show of hands, a holder of ordinary A, B and C shares has one vote for each ordinary A, B and C share.
The ordinary A, B and C shares, as respects dividends, participate equally in any distribution.
The ordinary A, B and C shares, as respects capital, participate equally in a distribution (including on a winding up). The Ordinary A, B and C shares are not redeemable.
The 12,500 Ordinary Deferred Shares were converted to Ordinary C Shares in the year. 



13.


Prior year adjustment

The directors have performed a detailed reviewed the loan notes and the various revisions which have been made.  As a result of this review the prior year loan note creditor balance, along with retained reserves brought forward have been adjusted. The effect on the prior year financial statements is as follows:
- Decrease loan note creditor falling due after more than one year by £200,962.
- Increase brought forward reserves by £200,962.
There has been no impact on the income statement in the previous year.
This adjustment has been made as, in the opinion of the directors, they are necessary to present a true and fair view of the company’s financial position.


14.


Pension commitments

The company operates a defined contribution pension scheme. The contributions to the scheme in the year were £11,293 (2022 - £11,421). Contributions totalling £2,038 (2022 - £2,503) were payable at the year end and included within creditors.


15.


Related party transactions

During the year, a Director and his spouse were owed £23,345 (2022 - £10,877) by the Company. This amount is interest free and repayable on demand. The amount is included in other creditors.

Page 11

 
SEDBERGH HOTEL ENTERPRISES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

16.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 4 March 2024 by Joanna Gray (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited.

Page 12