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COMPANY REGISTRATION NUMBER: 05639226
The Retreat At Limited
Filleted Unaudited Financial Statements
31 December 2023
The Retreat At Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
The Retreat At Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
5,380
6,923
Current assets
Stocks
500
1,000
Debtors
7
244,850
357,375
Cash at bank and in hand
48
3
---------
---------
245,398
358,378
Creditors: amounts falling due within one year
8
( 151,031)
( 196,602)
---------
---------
Net current assets
94,367
161,776
--------
---------
Total assets less current liabilities
99,747
168,699
Creditors: amounts falling due after more than one year
9
( 199,568)
( 206,421)
Provisions
Taxation including deferred tax
( 170)
( 282)
---------
---------
Net liabilities
( 99,991)
( 38,004)
---------
---------
The Retreat At Limited
Balance Sheet (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 99,993)
( 38,006)
--------
--------
Shareholders deficit
( 99,991)
( 38,004)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr M Otley
Director
Company registration number: 05639226
The Retreat At Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Coach House, Park View Terrace, Worcester, WR3 7AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The directors deem this to be appropriate and do not consider that a material uncertainty exists regarding going concern. The directors will continue to support the company for the foreseeable future. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of the approval of the accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
15% reducing balance
Plant and machinery
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Other operating income
Other operating income is income received from Government grants.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 14 ).
6. Tangible assets
Long leasehold property
Plant and machinery
Total
£
£
£
Cost
At 1 January 2023
11,302
8,310
19,612
Disposals
( 500)
( 3,924)
( 4,424)
--------
-------
--------
At 31 December 2023
10,802
4,386
15,188
--------
-------
--------
Depreciation
At 1 January 2023
5,864
6,825
12,689
Charge for the year
953
590
1,543
Disposals
( 500)
( 3,924)
( 4,424)
--------
-------
--------
At 31 December 2023
6,317
3,491
9,808
--------
-------
--------
Carrying amount
At 31 December 2023
4,485
895
5,380
--------
-------
--------
At 31 December 2022
5,438
1,485
6,923
--------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
403
Other debtors
244,850
356,972
---------
---------
244,850
357,375
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
20,225
9,579
Trade creditors
19,071
39,659
Corporation tax
1,851
30,992
Social security and other taxes
48,961
43,664
Other creditors
60,923
72,708
---------
---------
151,031
196,602
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
39,961
50,103
Other creditors
159,607
156,318
---------
---------
199,568
206,421
---------
---------
Other creditors include loans that are secured on the assets of the company and guaranteed personally by the directors.
10. Directors' advances, credits and guarantees
The directors had an interest free, repayable on demand loan during the year. At the beginning of the year they owed the company £274,132 and at the end of the year they owed the company £162,368. During the year the directors repaid £111,764.
11. Related party transactions
During the year, the company had an interest free, repayable on demand loan with a related party. At the beginning of the year they owed the related party £35,345 and at the end of the year they owed £42,470. During the year the company purchased goods to the value of £25,548 from this related party.