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W&R HOSPITALITY LTD

Registered Number
NI640930
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 May 2024

W&R HOSPITALITY LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Ryan McLaughlin
William McLaughlin

Registered Address

The Corner Bar Office
41 -43 Main Street
Limavady
BT49 0EP

Registered Number

NI640930 (Northern Ireland)
W&R HOSPITALITY LTD
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,6572,425
1,6572,425
Current assets
Stocks18,02224,025
Debtors42,0171,005
Cash at bank and on hand17,280543
77,31925,573
Creditors amounts falling due within one year(631,603)(457,367)
Net current assets (liabilities)(554,284)(431,794)
Total assets less current liabilities(552,627)(429,369)
Creditors amounts falling due after one year(17,890)(25,851)
Net assets(570,517)(455,220)
Capital and reserves
Called up share capital100100
Profit and loss account(570,617)(455,320)
Shareholders' funds(570,517)(455,220)
The financial statements were approved and authorised for issue by the Board of Directors on 11 March 2025, and are signed on its behalf by:
Ryan McLaughlin
Director
Registered Company No. NI640930
W&R HOSPITALITY LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The directors are currently engaged in a cost reduction and finance restructuring process which they are confident will result in an upturn in profitability for the company. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Kitchen Equipment - 20% straight line Office Equipment - 20% straight line
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year4442
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 2314,115
At 31 May 2414,115
Depreciation and impairment
At 01 June 2311,690
Charge for year768
At 31 May 2412,458
Net book value
At 31 May 241,657
At 31 May 232,425