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REGISTERED NUMBER: 07188860 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Red Lion Leisure Ltd

Red Lion Leisure Ltd (Registered number: 07188860)

Contents of the Financial Statements
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red Lion Leisure Ltd

Company Information
for the year ended 30 September 2023







DIRECTORS: Ms S L Gregorios-Pippas
P G T Gregorios-Pippas
Mrs M E Gregorios-Pippas
A Gregorios-Pippas





REGISTERED OFFICE: 7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 07188860 (England and Wales)





ACCOUNTANTS: FWD Accounts Limited
7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR

Red Lion Leisure Ltd (Registered number: 07188860)

Balance Sheet
30 September 2023

30/9/23 30/9/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 80,031 92,517
Tangible assets 4 8,045,040 8,313,989
8,125,071 8,406,506

CURRENT ASSETS
Stocks 23,799 20,747
Debtors 5 1,899,493 2,000,749
Cash at bank and in hand 175,075 77,092
2,098,367 2,098,588
CREDITORS
Amounts falling due within one year 6 7,065,576 6,454,236
NET CURRENT LIABILITIES (4,967,209 ) (4,355,648 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,157,862

4,050,858

CREDITORS
Amounts falling due after more than one
year

7

(101,539

)

(773,603

)

PROVISIONS FOR LIABILITIES (480,714 ) (480,714 )
NET ASSETS 2,575,609 2,796,541

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 2,434,223 2,545,922
Retained earnings 141,286 250,519
2,575,609 2,796,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Red Lion Leisure Ltd (Registered number: 07188860)

Balance Sheet - continued
30 September 2023


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

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 and authorised for issue on 30 July 2024 and were signed on its behalf by:





Ms S L Gregorios-Pippas - Director


Red Lion Leisure Ltd (Registered number: 07188860)

Notes to the Financial Statements
for the year ended 30 September 2023


1. ACCOUNTING POLICIES

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

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:

Hotel accommodation

Revenue from a contract to provide services such as accommodation is recognised in the period in
which the stay takes place. Monies paid in advance by guests is held within deferred income and is
released upon the service being delivered.

Food & beverage

Revenue recognised from food & beverage is recognised at the point of sale.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated impairment
losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life
cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Licence Fee - 20 years

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, using the straight-line method.

Depreciation is provided on the following basis:

Hotel Buildings - core - 50 years straight line
Hotel Buildings - surface finishes and services - 20 years straight line
Plant and machinery - 25% reducing balance
Fixtures and fittings - 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.

Red Lion Leisure Ltd (Registered number: 07188860)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


1. ACCOUNTING POLICIES - continued

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. Work in
progress and finished goods include labour and attributable overheads.

At each reporting 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.

Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss
except that a charge attributable to an item of income and expense recognised as other
comprehensive income or to an item recognised directly in equity is also recognised in other
comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been
enacted or substantively enacted by the reporting date in the countries where the Company operates
and generates income.

Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the reporting date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will
be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax
allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of
business combinations, when deferred tax is recognised on the differences between the fair values
of assets acquired and the future tax deductions available for them and the differences between the
fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is
determined using tax rates and laws that have been enacted or substantively enacted by the
reporting date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 24 ) .

Red Lion Leisure Ltd (Registered number: 07188860)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


3. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2022
and 30 September 2023 272,380
AMORTISATION
At 1 October 2022 179,863
Charge for year 12,486
At 30 September 2023 192,349
NET BOOK VALUE
At 30 September 2023 80,031
At 30 September 2022 92,517

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 10,257,892 982,759 11,240,651
Additions - 36,607 36,607
At 30 September 2023 10,257,892 1,019,366 11,277,258
DEPRECIATION
At 1 October 2022 2,027,158 899,504 2,926,662
Charge for year 284,941 20,615 305,556
At 30 September 2023 2,312,099 920,119 3,232,218
NET BOOK VALUE
At 30 September 2023 7,945,793 99,247 8,045,040
At 30 September 2022 8,230,734 83,255 8,313,989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Trade debtors 18,830 2,193
Amounts owed by group undertakings 1,788,133 1,724,366
Other debtors 92,530 274,190
1,899,493 2,000,749

Amounts owed by group undertakings are interest free and repayable on demand.

Red Lion Leisure Ltd (Registered number: 07188860)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Bank loans and overdrafts (see note 8) 6,730,337 6,016,418
Trade creditors 105,892 68,427
Taxation and social security 76,419 150,470
Other creditors 152,928 218,921
7,065,576 6,454,236

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/9/23 30/9/22
£    £   
Bank loans (see note 8) - 672,064
Other creditors 101,539 101,539
101,539 773,603

8. LOANS

An analysis of the maturity of loans is given below:

30/9/23 30/9/22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 4,226 53,542
Bank loans 6,726,111 5,962,876
6,730,337 6,016,418

Amounts falling due between one and two years:
Bank loans - 1-2 years - 340,555

Amounts falling due between two and five years:
Bank loans - 2-5 years - 331,509

Metro Bank plc have a legal charge on the freehold property being land and buildings known as the Red
Lion Hotel and Holiday Inn Express, Station Road, Whittlesford Bridge, Cambridge, CB22 4NL. The land
registered at HM Land Registry with title number CB353316 and CB107585 by way of fixed charge,
floating charge and negative pledge, and any part or parts of it and including all rights attached or
appurtenant to it and all building fixtures, fittings, plant and machinery from time to time situated on it.

9. RESERVES
Revaluation
reserve
£   
At 1 October 2022 2,545,922
Revaluation movement (111,699 )

At 30 September 2023 2,434,223

Red Lion Leisure Ltd (Registered number: 07188860)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


10. RELATED PARTY DISCLOSURES

The Company has taken advantage of exemptions from disclosing transactions with related companies
under the provisions of Section 33 of Financial Reporting Standard 102.

As at 30 September 2023, included within other creditors is a balance of £1,769 (30 September 2022:
-£109,365) owed to M Gregorios-Pippas, a director of the company.

As at 30 September 2023, included within other creditors is a balance of £18,169 (30 September 2022:
£16,300) owed to P Gregorios-Pippas, a director of the company.

As at 30 September 2023, included within other creditors is a balance of £313 (30 September 2022:
-£82,756) owed to S Gregorios-Pippas, a director of the company.

11. ULTIMATE CONTROLLING PARTY

The Company is under the immediate control and ultimate control of the director Ms S L Gregorios-
Pippas. The parent company is Xenia Leisure Group Limited.