Company registration number 13076562 (England and Wales)
RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
25 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
741,109
Current assets
Debtors
4
1,394,701
162,793
Cash at bank and in hand
1
-
0
1,394,702
162,793
Creditors: amounts falling due within one year
5
(1,255,573)
(1,033,946)
Net current assets/(liabilities)
139,129
(871,153)
Net assets/(liabilities)
139,129
(130,044)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
139,128
(130,045)
Total equity
139,129
(130,044)

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 January 2025 and are signed on its behalf by:
Mr David Ramsey
Director
Company registration number 13076562 (England and Wales)
RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Red Lion Operations 4 Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Wool Barn, Peper Harow, Godalming, Surrey, GU8 6BQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Company has net trueassets of £139,129 (2022: net liabilities £130,044) and net current assets of £139,129 (2022: net current liabilities £871,153).

 

The directors have reviewed the future liquidity requirements and have considered the cash flow forecasts of the company. The company is party to a group structure and the group produces long-term financial forecasts which show the company is able to operate and meet its financial obligations as they fall due as they have support from its holding company as and when required. Fellow group companies will also relinquish the right to call up intercompany loans owned by the company when required. Based on this review and the future business prospects of the company and its group the directors believe the company will be able to meet its liabilities as they fall due. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
50 Years
Plant and equipment
5 years
Freehold improvements
5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented 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.

RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The Company have no employees other than the directors, who received no remuneration in the current or prior year.

RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Freehold improvements
Total
£
£
£
£
Cost
At 26 December 2022
720,427
7,597
49,330
777,354
Disposals
(720,427)
(7,597)
(49,330)
(777,354)
At 31 December 2023
-
0
-
0
-
0
-
0
Depreciation and impairment
At 26 December 2022
32,707
2,642
896
36,245
Eliminated in respect of disposals
(32,707)
(2,642)
(896)
(36,245)
At 31 December 2023
-
0
-
0
-
0
-
0
Carrying amount
At 31 December 2023
-
0
-
0
-
0
-
0
At 25 December 2022
687,720
4,955
48,434
741,109
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,394,701
155,242
Other debtors
-
0
490
Prepayments and accrued income
-
0
7,061
1,394,701
162,793
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-
0
157
Trade creditors
2,144
14,422
Amounts owed to group undertakings
1,050,662
1,012,271
Taxation and social security
188,567
-
0
Accruals and deferred income
14,200
7,096
1,255,573
1,033,946
RED LION OPERATIONS 4 LIMITED
(FORMERLY RED MIST PARROT INN LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
1 Ordinary share (2022: 1) of £1 each
1
1
1
1

The ordinary share is allotted, called up and fully paid.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Marc Waterman
Statutory Auditor:
UHY Hacker Young
Date of audit report:
16 January 2025
8
Related party transactions

The Company has taken advantage of the exemption available under FRS 102 not to disclose transactions with wholly owned group members.

9
Parent company

The Company's immediate and ultimate parent entity is Red Lion Holdings LLP, a limited liability partnership incorporated in England and Wales. The registered office address of Red Lion Holdings LLP is The Wool Barn, Peper Harow, Godalming, Surrey, GU8 6BQ. The smallest and largest group of which the Company is a member and for which group accounts are prepared is Red Lion Holdings LLP. Copies of these are available from Companies House.

 

It is the opinion of the directors that there is no single controlling party of the Company.

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