Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falsetrueNo description of principal activity21falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05855846 2023-07-01 2024-06-30 05855846 2022-07-01 2023-06-30 05855846 2024-06-30 05855846 2023-06-30 05855846 c:Director3 2023-07-01 2024-06-30 05855846 d:FurnitureFittings 2023-07-01 2024-06-30 05855846 d:FurnitureFittings 2024-06-30 05855846 d:FurnitureFittings 2023-06-30 05855846 d:Goodwill 2024-06-30 05855846 d:Goodwill 2023-06-30 05855846 d:FreeholdInvestmentProperty 2024-06-30 05855846 d:FreeholdInvestmentProperty 2023-06-30 05855846 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 05855846 d:CurrentFinancialInstruments 2024-06-30 05855846 d:CurrentFinancialInstruments 2023-06-30 05855846 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05855846 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05855846 d:ShareCapital 2024-06-30 05855846 d:ShareCapital 2023-06-30 05855846 d:SharePremium 2024-06-30 05855846 d:SharePremium 2023-06-30 05855846 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 05855846 d:RetainedEarningsAccumulatedLosses 2024-06-30 05855846 d:RetainedEarningsAccumulatedLosses 2023-06-30 05855846 c:FRS102 2023-07-01 2024-06-30 05855846 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05855846 c:FullAccounts 2023-07-01 2024-06-30 05855846 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05855846 d:Subsidiary1 2023-07-01 2024-06-30 05855846 d:Subsidiary1 1 2023-07-01 2024-06-30 05855846 2 2023-07-01 2024-06-30 05855846 6 2023-07-01 2024-06-30 05855846 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 05855846










RICHARD HUGHES RESTAURANTS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
RICHARD HUGHES RESTAURANTS LTD
REGISTERED NUMBER: 05855846

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
271
320

Investments
 6 
123,352
123,352

Investment property
 7 
215,000
199,000

  
338,623
322,672

Current assets
  

Debtors: amounts falling due within one year
 8 
1,003
307

Cash at bank and in hand
  
792,614
728,169

  
793,617
728,476

Creditors: amounts falling due within one year
 9 
(22,940)
(48,558)

Net current assets
  
 
 
770,677
 
 
679,918

Total assets less current liabilities
  
1,109,300
1,002,590

Provisions for liabilities
  

Deferred tax
  
(1,098)
(171)

  
 
 
(1,098)
 
 
(171)

Net assets
  
1,108,202
1,002,419


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
122,639
122,639

Profit and loss account
 10 
985,463
879,680

  
1,108,202
1,002,419


Page 1

 
RICHARD HUGHES RESTAURANTS LTD
REGISTERED NUMBER: 05855846
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 income statement 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 by: 




Mrs S Preston
Director

Date: 16 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Richard Hughes Restaurants Limited is a private company limited by shares and incorporated in England and Wales, registration number 05855846. The registered office is 418 Unthank Road, Norwich,         NR4 7QH. 

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Interest income

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

Page 3

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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 reporting 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 reporting 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 reporting date.


 
2.5

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.

 
2.6

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.

Page 4

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
15% reducing balance

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

  
2.13

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).


4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
90,000



At 30 June 2024

90,000



Amortisation


At 1 July 2023
90,000



At 30 June 2024

90,000



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 6

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 July 2023
1,860



At 30 June 2024

1,860



Depreciation


At 1 July 2023
1,540


Disposals
49



At 30 June 2024

1,589



Net book value



At 30 June 2024
271



At 30 June 2023
320


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
123,352



At 30 June 2024
123,352




Page 7

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

The House (Norwich) Limited
7 The Close, Norwich, Norfolk, NR1 4DJ
Ordinary
50%


7.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
199,000


Surplus on revaluation
16,000



At 30 June 2024
215,000

The 2024 valuations were made by the director, on an open market value for existing use basis.






If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
185,480
185,480

Accumulated depreciation and impairments
(7,420)
(3,710)

178,060
181,770

Page 8

 
RICHARD HUGHES RESTAURANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,003
307

1,003
307



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
834
-

Amounts owed to group undertakings
50
50

Other creditors
20,136
46,719

Accruals and deferred income
1,920
1,789

22,940
48,558



10.


Reserves

Profit & loss account

The profit and loss account is the accumulated profit of the company since inception. The distributable amount is £955,943 (2023: £866,160), non distributable amount is £29,520 (2023: £13,520).


11.


Transactions with directors

At the year end the directors were owed £12,132 (2023: £22,719). This is shown within other creditors. Amounts advanced to the director during the year amounted to £10,587. Interest is not payable on the loans. 

 
Page 9