BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the operation as a
public house.
10 October 2024 0 0
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Company Registration Number: 10454186
 
 
R E Leisure Ltd
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 October 2023



R E Leisure Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Emma Jayne Elliott
Robert Ian Fairhurst
 
 
Company Registration Number 10454186
 
 
Registered Office 14 Mill Street
Bradford
West Yorkshire
BD1 4AB
 
 
Accountants Carringtons
14 Mill Street
Bradford
West Yorkshire
BD1 4AB
United Kingdom



R E Leisure Ltd
DIRECTORS' REPORT
for the financial year ended 31 October 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 October 2023.
 
Principal Activity
The principal activity of the company is the operation as a
public house.
     
Directors
The directors who served during the financial year are as follows:
     
Emma Jayne Elliott
Robert Ian Fairhurst
   
There were no changes in shareholdings between 31 October 2023 and the date of signing the financial statements.
     
In accordance with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
select suitable accounting policies and apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Emma Jayne Elliott
Director
     
10 October 2024



R E Leisure Ltd

ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of R E Leisure Ltd
for the financial year ended 31 October 2023
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 October 2023 as set out on pages 6 to 16 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of R E Leisure Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by and have complied with the relevant ethical guidance laid down by relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Balance Sheet for the year ended 31 October 2023 your duty to ensure that R E Leisure 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 loss of R E Leisure Ltd. You consider that R E Leisure Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of R E Leisure Ltd. For this reason, we have not verified the adequacy, 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.
 
 
 
__________________________________
CARRINGTONS
14 Mill Street
Bradford
West Yorkshire
BD1 4AB
United Kingdom
 
10 October 2024



R E Leisure Ltd
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 October 2023
2023 2022
Notes £ £

Turnover 341,776 407,943
 
Cost of sales (120,586) (140,853)
───────── ─────────
Gross profit 221,190 267,090
 
Administrative expenses (248,624) (296,800)
Other operating income 1,461 68,449
───────── ─────────
Operating (loss)/profit (25,973) 38,739
 
Interest payable and similar expenses 3 (903) (2,276)
───────── ─────────
(Loss)/profit before taxation (26,876) 36,463
 
Tax on (loss)/profit 5 1,998 (5,481)
───────── ─────────
(Loss)/profit for the financial year (24,878) 30,982
───────── ─────────
Total comprehensive income (24,878) 30,982
    ═════════   ═════════



R E Leisure Ltd
Company Registration Number: 10454186
BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 6 29,695 40,906
───────── ─────────
 
Current Assets
Stocks 7 4,449 5,288
Debtors 8 10,011 32,614
Cash and cash equivalents 30,030 33,069
───────── ─────────
44,490 70,971
───────── ─────────
Creditors: amounts falling due within one year 9 (33,999) (34,371)
───────── ─────────
Net Current Assets 10,491 36,600
───────── ─────────
Total Assets less Current Liabilities 40,186 77,506
 
Creditors:
amounts falling due after more than one year 10 (16,561) (27,005)
 
Provisions for liabilities 12 (5,774) (7,772)
───────── ─────────
Net Assets 17,851 42,729
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 17,751 42,629
───────── ─────────
Equity attributable to owners of the company 17,851 42,729
═════════ ═════════
 
These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 10 October 2024 and signed on its behalf by
           
           
________________________________          
Emma Jayne Elliott          
Director          
           



R E Leisure Ltd
STATEMENT OF CHANGES IN EQUITY
as at 31 October 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 November 2021 - 27,647 27,647
───────── ───────── ─────────
Profit for the financial year - 30,982 30,982
───────── ───────── ─────────
Payment of dividends - (16,000) (16,000)
  ───────── ───────── ─────────
At 31 October 2022 100 42,629 42,729
  ───────── ───────── ─────────
Loss for the financial year - (24,878) (24,878)
  ───────── ───────── ─────────
At 31 October 2023 100 17,751 17,851
  ═════════ ═════════ ═════════



R E Leisure Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
R E Leisure Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 10454186. The registered office of the company is 14 Mill Street, Bradford, West Yorkshire, BD1 4AB. The principal activity of the company is the operation as a
public house. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2023 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Interest payable and similar expenses 2023 2022
  £ £
 
On bank loans and overdrafts 702 1,018
Interest on overdue tax 201 1,258
  ───────── ─────────
  903 2,276
  ═════════ ═════════
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 8, (2022 - 8).
       
5. Tax on (loss)/profit
  2023 2022
  £ £
(a)     Analysis of charge in the financial year
 
Current tax:
Corporation tax at 0.00% (2022 - 19.00%) (Note 5 (b)) - 3,464
  ───────── ─────────
 
Deferred tax:
Origination and reversal of timing differences (1,998) 2,017
  ───────── ─────────
Total deferred tax (1,998) 2,017
  ═════════ ═════════
Tax on profit  (Note 5 (b)) (1,998) 5,481
  ═════════ ═════════
 
(b)     Factors affecting tax charge for the financial year
 
The tax assessed for the financial year differs from the standard rate of corporation tax in the United Kingdom. The differences are explained below:
  2023 2022
  £ £
 
(Loss)/profit taxable at 0.00% (26,876) 36,463
  ═════════ ═════════
(Loss)/profit before tax
multiplied by the standard rate of corporation tax
in the United Kingdom at 0.00% (2022 - 19.00%) - 6,928
Effects of:
Depreciation in excess of capital allowances for period - (3,464)
Deferred tax (1,998) 2,017
  ───────── ─────────
Total tax charge for the financial year (Note 5 (a)) (1,998) 5,481
  ═════════ ═════════
 
 
No charge to tax arises due to tax losses incurred.
       
6. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 November 2022 73,706 73,706
Additions 4,413 4,413
  ───────── ─────────
At 31 October 2023 78,119 78,119
  ───────── ─────────
Depreciation
At 1 November 2022 32,800 32,800
Charge for the financial year 15,624 15,624
  ───────── ─────────
At 31 October 2023 48,424 48,424
  ───────── ─────────
Net book value
At 31 October 2023 29,695 29,695
  ═════════ ═════════
At 31 October 2022 40,906 40,906
  ═════════ ═════════
       
7. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 4,449 5,288
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Debtors 2023 2022
  £ £
 
Trade debtors - 8,921
Other debtors 7,433 7,433
Directors' current accounts (Note ) 1,200 13,950
Prepayments and accrued income 1,378 2,310
  ───────── ─────────
  10,011 32,614
  ═════════ ═════════
       
9. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 9,946 9,448
Trade creditors 5,694 9,232
Taxation  (Note 11) 12,436 8,383
Directors' current accounts 4,902 4,166
Other creditors 1,021 3,142
  ───────── ─────────
  33,999 34,371
  ═════════ ═════════
       
10. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 16,561 27,005
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) 9,946 9,448
Repayable between one and two years 9,946 9,448
Repayable between two and five years 6,615 17,557
  ───────── ─────────
  26,507 36,453
  ═════════ ═════════
 
       
11. Taxation 2023 2022
  £ £
 
Creditors:
VAT 7,746 4,825
Corporation tax 3,666 3,464
PAYE / NI 1,024 94
  ───────── ─────────
  12,436 8,383
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 7,772 7,772 5,755
Utilised during the financial year (1,998) (1,998) 2,017
  ───────── ───────── ─────────
At financial year end 5,774 5,774 7,772
  ═════════ ═════════ ═════════
       
13. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
14. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.



R E Leisure Ltd
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
TRADING STATEMENT
for the financial year ended 31 October 2023
2023 2022
£ £

Sales 341,776 407,943
───────── ─────────
       
Cost of sales
Opening stock 5,288   4,196
Purchases 118,915 141,070
Direct costs 832 875
  ─────────   ─────────
  125,035   146,141
Closing stock (4,449)   (5,288)
  ─────────   ─────────
  120,586   140,853
  ─────────   ─────────
       
Gross profit 221,190   267,090
  ─────────   ─────────
Gross profit Percentage 64.7%   65.5%
  ─────────   ─────────
       
Administrative expenses
Wages and salaries 67,335 64,903
Doormen & Security 14,827 11,419
Directors' remuneration 25,168 25,474
Staff defined contribution pension costs 4,024 2,522
Staff training - 3,462
Rent payable 10,412 9,644
Rates 3,132 3,767
Water rates 2,236 2,834
Licences 1,867 1,552
Insurance 6,603 3,257
Electric 4,676 6,757
Gas 169 505
Cleaning 7,012 10,738
Waste Management 1,269 4,405
Repairs and maintenance 16,323 58,498
Printing, postage and stationery 673 1,439
Advertising 1,161 1,438
Telephone 2,025 1,696
Hire of equipment 839 2,231
Motor expenses 4,514 4,589
Entertainment 48,647 45,180
Games teams,quiz & promotional expenses 288 1,226
Legal and professional 276 2,191
Stocktaking fees 860 935
Accountancy 3,285 3,233
Bank charges 530 716
Credit card charges 4,183 4,005
General expenses 666 3,443
Depreciation of tangible assets 15,624   14,741
  ─────────   ─────────
  248,624   296,800
  ─────────   ─────────
       
Finance
Interest paid on overdue taxation 201 1,258
Other interest 702   1,018
  ─────────   ─────────
  903   2,276
  ─────────   ─────────
       
Miscellaneous income
Government grants received - 4,000
Promotional/Sponsorship Monies Received - 5,500
Music Venue Trust & Arts Council Grants - 44,650
Kickstart Grants - 11,882
Machine income 1,461 2,417
  ─────────   ─────────
  1,461   68,449
  ─────────   ─────────
       
Net (loss)/profit (26,876)   36,463
  ═════════   ═════════