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REGISTERED NUMBER: 05296976 (England and Wales)











Financial Statements

for the Year Ended 31 May 2024

for

Retreat East Limited

Retreat East Limited (Registered number: 05296976)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Retreat East Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: D C D Richards



REGISTERED OFFICE: Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BUSINESS ADDRESS: Brick Kiln Farm
Coddenham Road
Hemingstone
Ipswich
Suffolk
IP6 9QE



REGISTERED NUMBER: 05296976 (England and Wales)



ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: Coutts & Co
440 Strand
London
WC2R 0QS

Retreat East Limited (Registered number: 05296976)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,026 113,409
Investment property 5 13,130,229 13,043,409
13,231,255 13,156,818

CURRENT ASSETS
Stocks 16,710 19,968
Debtors 6 315,728 184,008
Cash at bank 76,962 94,662
409,400 298,638
CREDITORS
Amounts falling due within one year 7 939,100 739,080
NET CURRENT LIABILITIES (529,700 ) (440,442 )
TOTAL ASSETS LESS CURRENT LIABILITIES 12,701,555 12,716,376

CREDITORS
Amounts falling due after more than one
year

8

(7,615,017

)

(7,001,753

)

PROVISIONS FOR LIABILITIES (656,728 ) (618,601 )
NET ASSETS 4,429,810 5,096,022

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 106,989 106,989
Fair value reserve 11 4,377,904 4,377,904
Retained earnings (55,183 ) 611,029
SHAREHOLDERS' FUNDS 4,429,810 5,096,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Retreat East Limited (Registered number: 05296976)

Statement of Financial Position - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





D C D Richards - Director


Retreat East Limited (Registered number: 05296976)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Retreat East Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
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 - 25% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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 statement of financial position date.

Retreat East Limited (Registered number: 05296976)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company continues to have net current liabilities, however the company is financially backed by a large private institution.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 25,153 308,298 15,663 349,114
Additions 271 13,232 4,405 17,908
At 31 May 2024 25,424 321,530 20,068 367,022
DEPRECIATION
At 1 June 2023 5,046 220,513 10,146 235,705
Charge for year 6,333 19,454 4,504 30,291
At 31 May 2024 11,379 239,967 14,650 265,996
NET BOOK VALUE
At 31 May 2024 14,045 81,563 5,418 101,026
At 31 May 2023 20,107 87,785 5,517 113,409

Retreat East Limited (Registered number: 05296976)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 June 2023
and 31 May 2024 8,905
DEPRECIATION
At 1 June 2023 1,299
Charge for year 2,226
At 31 May 2024 3,525
NET BOOK VALUE
At 31 May 2024 5,380
At 31 May 2023 7,606

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 13,043,409
Additions 86,820
At 31 May 2024 13,130,229
NET BOOK VALUE
At 31 May 2024 13,130,229
At 31 May 2023 13,043,409

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2007 574,622
Valuation in 2008 232,755
Valuation in 2009 193,630
Valuation in 2010 314,186
Valuation in 2013 359,002
Valuation in 2014 270,956
Valuation in 2015 1,251,699
Valuation in 2016 213,907
Valuation in 2021 1,758,007
Cost 7,961,465
13,130,229

Retreat East Limited (Registered number: 05296976)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 7,961,465 7,874,645

Investment property was valued on an open market basis on 23 July 2021 by Avison Young .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 235,983 50,209
Other debtors 79,745 133,799
315,728 184,008

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 135,119
Hire purchase contracts 1,855 4,452
Trade creditors 97,255 257,405
Taxation and social security 181,373 44,444
Other creditors 648,617 297,660
939,100 739,080

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,120,017 5,004,898
Hire purchase contracts - 1,855
Other creditors 2,495,000 1,995,000
7,615,017 7,001,753

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,130,017 5,140,017
Other loans 2,495,000 1,995,000
7,625,017 7,135,017

Creditors falling due after more than one year include a government backed bounce back loan. The other loans and bank loan are secured by way of charges over the Company.

Retreat East Limited (Registered number: 05296976)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 4,377,904