REGISTERED NUMBER: |
THE RED LION (COLESHILL) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
REGISTERED NUMBER: |
THE RED LION (COLESHILL) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
Page |
Balance Sheet | 1 | to | 2 |
Notes to the Financial Statements | 3 | to | 6 |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
BALANCE SHEET |
31ST AUGUST 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Non-Distributable Retained Ear |
nings |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
BALANCE SHEET - continued |
31ST AUGUST 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
1. | STATUTORY INFORMATION |
The Red Lion (Coleshill) Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors are satisfied that the company has sufficient cash flows to continue to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements, thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over its estimated useful life of five years. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Plant and machinery etc | -10% on cost |
Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument. |
Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised. |
Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised. |
Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st September 2023 |
and 31st August 2024 |
AMORTISATION |
At 1st September 2023 |
and 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st September 2023 |
and 31st August 2024 |
DEPRECIATION |
At 1st September 2023 |
Charge for year |
At 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st September 2023 |
and 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
2024 | 2023 |
£ | £ |
Cost | 327,332 | 327,332 |
327,332 | 327,332 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
Included in other creditors are amounts owed to directors of £288,505 (2023: £304,962) |
THE RED LION (COLESHILL) LIMITED (REGISTERED NUMBER: 07003045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |