Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseRunning of a hotel and public house4039truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07163219 2023-03-01 2024-02-29 07163219 2022-03-01 2023-02-28 07163219 2024-02-29 07163219 2023-02-28 07163219 c:Director1 2023-03-01 2024-02-29 07163219 c:Director2 2023-03-01 2024-02-29 07163219 c:Director3 2023-03-01 2024-02-29 07163219 c:Director4 2023-03-01 2024-02-29 07163219 c:RegisteredOffice 2023-03-01 2024-02-29 07163219 d:Buildings d:ShortLeaseholdAssets 2023-03-01 2024-02-29 07163219 d:Buildings d:ShortLeaseholdAssets 2024-02-29 07163219 d:Buildings d:ShortLeaseholdAssets 2023-02-28 07163219 d:FurnitureFittings 2023-03-01 2024-02-29 07163219 d:FurnitureFittings 2024-02-29 07163219 d:FurnitureFittings 2023-02-28 07163219 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07163219 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07163219 d:CurrentFinancialInstruments 2024-02-29 07163219 d:CurrentFinancialInstruments 2023-02-28 07163219 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 07163219 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07163219 d:ShareCapital 2024-02-29 07163219 d:ShareCapital 2023-02-28 07163219 d:RetainedEarningsAccumulatedLosses 2024-02-29 07163219 d:RetainedEarningsAccumulatedLosses 2023-02-28 07163219 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 07163219 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 07163219 c:OrdinaryShareClass1 2023-03-01 2024-02-29 07163219 c:OrdinaryShareClass1 2024-02-29 07163219 c:OrdinaryShareClass1 2023-02-28 07163219 c:FRS102 2023-03-01 2024-02-29 07163219 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07163219 c:FullAccounts 2023-03-01 2024-02-29 07163219 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07163219 2 2023-03-01 2024-02-29 07163219 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07163219









REAL HOSPITALITY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
REAL HOSPITALITY LTD
 
 
COMPANY INFORMATION


Directors
Mr C M Stuart 
Mrs J Alger 
Ms C E Prior 
Mr R A Millar 




Registered number
07163219



Registered office
Red Lion
Brook Street

Cromer

Norfolk

NR27 9HD




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
REAL HOSPITALITY LTD
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 10


 
REAL HOSPITALITY LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF REAL HOSPITALITY LTD
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Real Hospitality Ltd for the year ended 29 February 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Real Hospitality Ltd, as a body, in accordance with the terms of our engagement letter dated 27 March 2024Our work has been undertaken solely to prepare for your approval the financial statements of Real Hospitality Ltd and state those matters that we have agreed to state to the Board of Directors of Real Hospitality Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Real Hospitality Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Real Hospitality Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Real Hospitality Ltd. You consider that Real Hospitality Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Real Hospitality Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
28 August 2024
Page 1

 
REAL HOSPITALITY LTD
REGISTERED NUMBER: 07163219

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,341
40,807

  
44,341
40,807

Current assets
  

Stocks
  
36,390
35,048

Debtors: amounts falling due within one year
 5 
20,692
14,213

Cash at bank and in hand
  
321,321
295,119

  
378,403
344,380

Creditors: amounts falling due within one year
 6 
(155,417)
(139,410)

Net current assets
  
 
 
222,986
 
 
204,970

Total assets less current liabilities
  
267,327
245,777

Provisions for liabilities
  

Deferred tax
  
(9,160)
(6,010)

  
 
 
(9,160)
 
 
(6,010)

Net assets
  
258,167
239,767


Capital and reserves
  

Share capital
  
10,000
10,000

Profit and loss account
  
248,167
229,767

  
258,167
239,767


Page 2

 
REAL HOSPITALITY LTD
REGISTERED NUMBER: 07163219
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 on 28 August 2024.




Mrs J Alger
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Real Hospitality Ltd is a private company, limited by shares, registered in England and Wales. The company's registered office is The Red Lion, Brook Street, Cromer, Norfolk, NR27 9HD.
The principal activites of the company is the running of a hotel and public house.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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:

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.

 
2.3

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.

Page 4

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

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 Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Current and deferred 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

Page 5

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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, straight line and on cost.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5%
straight line
Fixtures and fittings
-
25%
on cost

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.

 
2.10

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 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.

 
2.11

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.

Page 6

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 40 (2023 - 39).

Page 7

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Short-term leasehold property
Equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
19,266
238,229
257,495


Additions
-
18,384
18,384



At 29 February 2024

19,266
256,613
275,879



Depreciation


At 1 March 2023
10,595
206,094
216,689


Charge for the year on owned assets
963
13,886
14,849



At 29 February 2024

11,558
219,980
231,538



Net book value



At 29 February 2024
7,708
36,633
44,341



At 28 February 2023
8,672
32,135
40,807


5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
5,550
168

Prepayments and accrued income
15,142
14,045

20,692
14,213


Page 8

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
31,573
74,267

Corporation tax
58,134
13,647

Other taxation and social security
59,605
45,304

Other creditors
3,611
3,358

Accruals and deferred income
2,494
2,834

155,417
139,410



7.


Deferred taxation






2024


£






At beginning of year
(6,010)


Charged to profit or loss
(3,150)



At end of year
(9,160)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(9,160)
(6,010)

(9,160)
(6,010)


8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary Shares shares of £1.00 each
10,000
10,000

Page 9

 
REAL HOSPITALITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Related party transactions

At 29 February 2024, two of the company's directors owed the company £174 each in respect of overdrawn directors' loan accounts. The loans are repayable on demand and are interest free and are included within other debtors on the balance sheet. Since the balance sheet date these loans have been repaid.

 
Page 10