20 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 117,377 35,214 5,869 41,083 76,294 82,163 xbrli:pure xbrli:shares iso4217:GBP 09738135 2023-07-01 2024-06-30 09738135 2024-06-30 09738135 2023-06-30 09738135 2022-07-01 2023-06-30 09738135 2023-06-30 09738135 2022-06-30 09738135 core:NetGoodwill 2023-07-01 2024-06-30 09738135 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 09738135 core:FurnitureFittings 2023-07-01 2024-06-30 09738135 bus:Director1 2023-07-01 2024-06-30 09738135 core:NetGoodwill 2023-06-30 09738135 core:NetGoodwill 2024-06-30 09738135 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 09738135 core:FurnitureFittings 2023-06-30 09738135 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 09738135 core:FurnitureFittings 2024-06-30 09738135 core:WithinOneYear 2024-06-30 09738135 core:WithinOneYear 2023-06-30 09738135 core:AfterOneYear 2024-06-30 09738135 core:AfterOneYear 2023-06-30 09738135 core:ShareCapital 2024-06-30 09738135 core:ShareCapital 2023-06-30 09738135 core:RetainedEarningsAccumulatedLosses 2024-06-30 09738135 core:RetainedEarningsAccumulatedLosses 2023-06-30 09738135 core:NetGoodwill 2023-06-30 09738135 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 09738135 core:FurnitureFittings 2023-06-30 09738135 bus:SmallEntities 2023-07-01 2024-06-30 09738135 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09738135 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09738135 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09738135 bus:FullAccounts 2023-07-01 2024-06-30 09738135 core:ComputerEquipment 2023-07-01 2024-06-30 09738135 core:ComputerEquipment 2023-06-30 09738135 core:ComputerEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 09738135
The Randolph Hotel (Southwold) Limited
Unaudited financial statements
30 June 2024
The Randolph Hotel (Southwold) Limited
Statement of financial position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
76,294
82,163
Tangible assets
6
116,957
136,516
---------
---------
193,251
218,679
Current assets
Stocks
10,295
12,601
Debtors
7
24,725
27,005
Cash at bank and in hand
57,833
52,845
-------
-------
92,853
92,451
Creditors: Amounts falling due within one year
8
( 203,250)
( 139,206)
---------
---------
Net current liabilities
( 110,397)
( 46,755)
---------
---------
Total assets less current liabilities
82,854
171,924
Creditors: Amounts falling due after more than one year
9
( 30,834)
( 79,047)
Provisions
Taxation including deferred tax
( 24,472)
( 30,446)
-------
---------
Net assets
27,548
62,431
-------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
27,546
62,429
-------
-------
Shareholders funds
27,548
62,431
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Randolph Hotel (Southwold) Limited
Statement of financial position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
Mrs J Knights
Director
Company registration number: 09738135
The Randolph Hotel (Southwold) Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Wangford Road, Reydon, Southwold, IP18 6PZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
5% straight line
Fixtures and fittings
-
15% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 20 (2023: 20 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
117,377
---------
Amortisation
At 1 July 2023
35,214
Charge for the year
5,869
---------
At 30 June 2024
41,083
---------
Carrying amount
At 30 June 2024
76,294
---------
At 30 June 2023
82,163
---------
6. Tangible assets
Long leasehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
31,150
206,995
6,107
244,252
Additions
1,342
1,998
3,340
-------
---------
------
---------
At 30 June 2024
32,492
208,993
6,107
247,592
-------
---------
------
---------
Depreciation
At 1 July 2023
3,482
101,841
2,413
107,736
Charge for the year
1,557
20,731
611
22,899
-------
---------
------
---------
At 30 June 2024
5,039
122,572
3,024
130,635
-------
---------
------
---------
Carrying amount
At 30 June 2024
27,453
86,421
3,083
116,957
-------
---------
------
---------
At 30 June 2023
27,668
105,154
3,694
136,516
-------
---------
------
---------
7. Debtors
2024
2023
£
£
Trade debtors
1,090
865
Other debtors
23,635
26,140
-------
-------
24,725
27,005
-------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
47,738
45,630
Trade creditors
58,630
29,778
Social security and other taxes
47,300
37,570
Other creditors
49,582
26,228
---------
---------
203,250
139,206
---------
---------
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
19,814
69,660
Other creditors
11,020
9,387
-------
-------
30,834
79,047
-------
-------