Registered number
05789256
Rayleigh Inns Limited
Filleted Accounts
30 November 2023
Rayleigh Inns Limited
Registered number: 05789256
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 579,515 463,675
Current assets
Stocks 16,800 12,500
Cash at bank and in hand 29,520 133,602
46,320 146,102
Creditors: amounts falling due within one year 4 (123,111) (157,138)
Net current liabilities (76,791) (11,036)
Total assets less current liabilities 502,724 452,639
Creditors: amounts falling due after more than one year 5 (110,748) (160,771)
Provisions for liabilities 6 (42,937) (48,038)
Net assets 349,039 243,830
Capital and reserves
Called up share capital 4,000 1,000
Profit and loss account 345,039 242,830
Shareholder's funds 349,039 243,830
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Omer Faruk Celik
Director
Approved by the board on 8 February 2024
Rayleigh Inns Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 24% on reducing balance
Plant and machinery 15% on reducing balance
Fixtures, fittings, tools and equipment 15% on reducing balance
Motor Vehicles 20% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 49 49
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 199,690 487,722 153,966 841,378
Additions - 215,766 - 215,766
At 30 November 2023 199,690 703,488 153,966 1,057,144
Depreciation
At 1 December 2022 175,679 153,081 48,943 377,703
Charge for the year 5,763 73,158 21,005 99,926
At 30 November 2023 181,442 226,239 69,948 477,629
Net book value
At 30 November 2023 18,248 477,249 84,018 579,515
At 30 November 2022 24,011 334,641 105,023 463,675
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 1,580
Trade creditors 5,154 12,736
Taxation and social security costs 103,550 119,746
Other creditors 14,407 23,076
123,111 157,138
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,660 61,076
Obligations under finance lease and hire purchase contracts 78,088 97,869
Other creditors - 1,826
110,748 160,771
6 Deferred tax/Provisions for liabilities Current year Comp year
£ £
B/fwd 48,038 21,191
Charged to profit and loss (5,101) 26,847
Charged to other comprehensive income - -
42,937 48,038
7 Other information
Rayleigh Inns Limited is a private company limited by shares and incorporated in England. Its registered office is:
570 Rayleigh Road
Brentwood
Essex
CM13 1SG
Rayleigh Inns Limited 05789256 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Mr Omer Faruk Celik No description of principal activity 05789256 2021-12-01 2022-11-30 05789256 core:WithinOneYear 2022-11-30 05789256 core:AfterOneYear 2022-11-30 05789256 core:ShareCapital 2022-11-30 05789256 core:RetainedEarningsAccumulatedLosses 2022-11-30 05789256 2022-12-01 2023-11-30 05789256 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05789256 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05789256 bus:Director40 2022-12-01 2023-11-30 05789256 2 2022-12-01 2023-11-30 05789256 core:LandBuildings 2022-12-01 2023-11-30 05789256 core:PlantMachinery 2022-12-01 2023-11-30 05789256 core:Vehicles 2022-12-01 2023-11-30 05789256 countries:England 2022-12-01 2023-11-30 05789256 bus:FRS102 2022-12-01 2023-11-30 05789256 bus:FilletedAccounts 2022-12-01 2023-11-30 05789256 2023-11-30 05789256 core:WithinOneYear 2023-11-30 05789256 core:AfterOneYear 2023-11-30 05789256 core:ShareCapital 2023-11-30 05789256 core:RetainedEarningsAccumulatedLosses 2023-11-30 05789256 core:LandBuildings 2023-11-30 05789256 core:PlantMachinery 2023-11-30 05789256 core:Vehicles 2023-11-30 05789256 2022-11-30 05789256 core:LandBuildings 2022-11-30 05789256 core:PlantMachinery 2022-11-30 05789256 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure