Company Registration No. 05125739 (England and Wales)
REDWINGS LODGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
REDWINGS LODGE LIMITED
COMPANY INFORMATION
Directors
Mr N R Radia
Mr S N Radia
Secretary
Mrs S N Radia
Company number
05125739
Registered office
Old Great North Road
Sawtry
Huntingdon
Cambridgeshire
PE28 5XP
Accountants
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
REDWINGS LODGE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
REDWINGS LODGE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF REDWINGS LODGE LIMITED FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The following reproduces text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 9 have been extracted.

"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Redwings Lodge Limited for the year ended 30 June 2024 set out on pages 3 to 12 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

Our work has been undertaken solely to prepare for your approval the financial statements of Redwings Lodge Limited and state those matters that we have agreed to state to the Board of Directors of Redwings Lodge Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Redwings Lodge Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Redwings Lodge Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Redwings Lodge Limited. You consider that Redwings Lodge Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Redwings Lodge Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

 

 

John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
12 March 2025
REDWINGS LODGE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,030,146
2,032,511
Investments
4
200
200
2,030,346
2,032,711
Current assets
Stocks
11,582
6,135
Debtors
5
1,075,186
960,934
Cash at bank and in hand
17,533
42,619
1,104,301
1,009,688
Creditors: amounts falling due within one year
6
(860,782)
(710,339)
Net current assets
243,519
299,349
Total assets less current liabilities
2,273,865
2,332,060
Creditors: amounts falling due after more than one year
7
(556,295)
(621,297)
Provisions for liabilities
8
(334,428)
(334,783)
Net assets
1,383,142
1,375,980
Capital and reserves
Called up share capital
10
100
100
Revaluation reserve
11
1,223,584
1,223,584
Profit and loss reserves
12
159,458
152,296
Total equity
1,383,142
1,375,980

The directortrues of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver the profit and loss account and the directors' report within the financial statements.

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

REDWINGS LODGE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
Mr N R Radia
Director
Company Registration No. 05125739
REDWINGS LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Redwings Lodge Limited is a private company limited by shares incorporated in England and Wales. The registered office is Old Great North Road, Sawtry, Huntingdon, Cambridgeshire, PE28 5XP.

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, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the amounts receivable in respect of provision of hotel accommodation and services provided to customers of the hotel and from sales at convenience store and is net of VAT.

1.4
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
0%
Plant and machinery
33.3% per annum on straight line method
Fixtures, fittings & equipment
20% per annum on straight line method
Motor vehicles
25% per annum on straight line method

It is company’s policy to maintain the freehold property in a continuous state of good repair. The directors consider that the life of the freehold property is long and the estimated residual values at the end of its useful economic life is such that any depreciation is immaterial. Carrying value is reviewed for impairment annually.

 

Based on the above no charge has been made in the accounts for depreciation of freehold buildings.

REDWINGS LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Stocks

Stocks are valued at the lower of cost and net realisable value. Where necessary, provision is made for obsolete, slow moving and defective stocks.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed by group companies 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.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies 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.

 

 

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

REDWINGS LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
35
37
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 July 2023 and 30 June 2024
2,026,488
226,272
2,252,760
Depreciation and impairment
At 1 July 2023
-
0
220,249
220,249
Depreciation charged in the year
-
0
2,365
2,365
At 30 June 2024
-
0
222,614
222,614
Carrying amount
At 30 June 2024
2,026,488
3,658
2,030,146
At 30 June 2023
2,026,488
6,023
2,032,511

Land and buildings were revalued by the directors on 30 June 2024.

Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amount of cost would be £468,476 (2023 - £468,476).

4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings
200
200
REDWINGS LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,910
7,662
Amounts owed by group undertakings
667,753
603,528
Other debtors
352,236
336,575
Prepayments and accrued income
24,925
13,169
1,049,824
960,934
Deferred tax asset (note 9)
118
-
0
1,049,942
960,934
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
25,244
-
0
Total debtors
1,075,186
960,934
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
59,986
38,317
Trade creditors
28,098
17,198
Amounts owed to group undertakings
227,382
93,093
Corporation tax
8,727
5,758
Other taxation and social security
21,293
23,289
Other creditors
486,425
499,437
Accruals and deferred income
28,871
33,247
860,782
710,339
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
356,295
421,297
Director's loan
200,000
200,000
556,295
621,297
REDWINGS LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Creditors: amounts falling due after more than one year
(Continued)
- 8 -
Amounts included above which fall due after five years are as follows:
Payable by instalments
109,648
291,749

Bank loan of £400,000 (2023 - £433,333) is secured. Bounce back loan of £16,281 (2023 - £26,281) is backed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.

8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9
334,428
334,783
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
-
355
118
-
Revaluations
334,428
334,428
-
-
334,428
334,783
118
-
2024
Movements in the year:
£
Liability at 1 July 2023
334,783
Credit to profit or loss
(473)
Liability at 30 June 2024
334,310
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100

 

REDWINGS LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
11
Revaluation reserve
2024
2023
£
£
At beginning and end of year
1,223,584
1,223,584
12
Profit and loss reserves

The movement in profit and loss reserves for the year ended 30 June 2024 and 30 June 2023 are dividend paid and profit for the year.

13
Financial commitments, guarantees and contingent liabilities

The company has given a Cross Guarantee and debenture to the bank for facilities made available to Redwings Lodge Properties Limited, Redwings Lodge (Rutland) Limited, Redwings Lodge (Herts) Ltd, Redwings Lodge (Midland) Limited, Redwings Lodge (Birmingham) Limited and Redwings Lodge (Solihull) Limited.

 

The bank holds fixed charges over freehold properties known as Redwings Service Station and Redwings Lodge, Great North Road, Sawtry, Huntingdon, Cambridgeshire, PE28 5EP and its associated assets.

 

14
Directors' transactions

Dividend totalling £9,000(2023 - £21,000) was paid to the director, Mr N R Radia in the year in respect of shares held by him.

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