IRIS Accounts Production v25.1.0.734 02039968 Board of Directors 1.12.23 30.11.24 30.11.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh020399682023-11-30020399682024-11-30020399682023-12-012024-11-30020399682022-11-30020399682022-12-012023-11-30020399682023-11-3002039968ns15:EnglandWales2023-12-012024-11-3002039968ns14:PoundSterling2023-12-012024-11-3002039968ns10:Director12023-12-012024-11-3002039968ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3002039968ns10:SmallEntities2023-12-012024-11-3002039968ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3002039968ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3002039968ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3002039968ns10:FullAccounts2023-12-012024-11-300203996812023-12-012024-11-3002039968ns10:Director22023-12-012024-11-3002039968ns10:CompanySecretary12023-12-012024-11-3002039968ns10:RegisteredOffice2023-12-012024-11-3002039968ns5:CurrentFinancialInstruments2024-11-3002039968ns5:CurrentFinancialInstruments2023-11-3002039968ns5:Non-currentFinancialInstruments2024-11-3002039968ns5:Non-currentFinancialInstruments2023-11-3002039968ns5:ShareCapital2024-11-3002039968ns5:ShareCapital2023-11-3002039968ns5:RevaluationReserve2024-11-3002039968ns5:RevaluationReserve2023-11-3002039968ns5:CapitalRedemptionReserve2024-11-3002039968ns5:CapitalRedemptionReserve2023-11-3002039968ns5:RetainedEarningsAccumulatedLosses2024-11-3002039968ns5:RetainedEarningsAccumulatedLosses2023-11-3002039968ns5:IntangibleAssetsOtherThanGoodwill2023-12-012024-11-3002039968ns5:PlantMachinery2023-12-012024-11-3002039968ns5:NetGoodwill2023-11-3002039968ns5:IntangibleAssetsOtherThanGoodwill2023-11-3002039968ns5:NetGoodwill2024-11-3002039968ns5:IntangibleAssetsOtherThanGoodwill2024-11-3002039968ns5:NetGoodwill2023-11-3002039968ns5:IntangibleAssetsOtherThanGoodwill2023-11-3002039968ns5:LandBuildings2023-11-3002039968ns5:PlantMachinery2023-11-3002039968ns5:LandBuildings2023-12-012024-11-3002039968ns5:LandBuildings2024-11-3002039968ns5:PlantMachinery2024-11-3002039968ns5:LandBuildings2023-11-3002039968ns5:PlantMachinery2023-11-3002039968ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3002039968ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30
REGISTERED NUMBER: 02039968 (England and Wales)








Unaudited Financial Statements

For The Year Ended 30 November 2024

for

Rew Hotels Limited

Rew Hotels Limited (Registered number: 02039968)






Contents of the Financial Statements
For The Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rew Hotels Limited

Company Information
For The Year Ended 30 November 2024







DIRECTORS: T S J Rew
Mrs S Rew





SECRETARY: Mrs S Rew





REGISTERED OFFICE: Livermead House Hotel
Sea Front
Torquay
Devon
TQ2 6QJ





REGISTERED NUMBER: 02039968 (England and Wales)





ACCOUNTANTS: TC Bromhead Limited
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

Rew Hotels Limited (Registered number: 02039968)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,498,697 3,500,492
3,498,697 3,500,492

CURRENT ASSETS
Stocks 28,052 28,288
Debtors 6 78,614 91,814
Cash at bank and in hand 43,363 13,319
150,029 133,421
CREDITORS
Amounts falling due within one year 7 1,137,915 942,954
NET CURRENT LIABILITIES (987,886 ) (809,533 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,510,811

2,690,959

CREDITORS
Amounts falling due after more than one
year

8

567,500

633,749
NET ASSETS 1,943,311 2,057,210

CAPITAL AND RESERVES
Called up share capital 203,034 203,034
Revaluation reserve 96,622 96,622
Capital redemption reserve 150,000 150,000
Retained earnings 1,493,655 1,607,554
1,943,311 2,057,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Rew Hotels Limited (Registered number: 02039968)

Balance Sheet - continued
30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





T S J Rew - Director


Rew Hotels Limited (Registered number: 02039968)

Notes to the Financial Statements
For The Year Ended 30 November 2024

1. STATUTORY INFORMATION

Rew Hotels 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.

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.

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

Turnover in respect of hotel accommodation and events such as weddings is recognised at the date of stay or the date of the event; deposits received in advance are deferred until that date and included in creditors on the balance sheet. Other sales are recognised at the date of delivery.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The website was amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Tangible fixed assets are stated at cost with the exception of land and buildings. The directors adopted the transitional provisions of FRS 102 from 1 June 2014 which provide that companies may revalue tangible fixed assets and retain these valuations as deemed cost. The valuations were undertaken by an independent firm of chartered surveyors.

No depreciation is provided on freehold property, as the directors consider that the residual value of the company's properties is such that depreciation would be immaterial. The company has a policy and practice of regular maintenance and repair, charges for which are recognised in the profit and loss account, such that these assets are kept to their previously assessed standard of performance and the properties are unlikely to suffer from economic or technological obsolescence.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


Rew Hotels Limited (Registered number: 02039968)

Notes to the Financial Statements - continued
For The Year Ended 30 November 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 balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2023 - 54 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 December 2023
and 30 November 2024 151,500 18,460 169,960
AMORTISATION
At 1 December 2023
and 30 November 2024 151,500 18,460 169,960
NET BOOK VALUE
At 30 November 2024 - - -
At 30 November 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 3,451,323 911,111 4,362,434
Additions - 7,797 7,797
At 30 November 2024 3,451,323 918,908 4,370,231
DEPRECIATION
At 1 December 2023 - 861,942 861,942
Charge for year - 9,592 9,592
At 30 November 2024 - 871,534 871,534
NET BOOK VALUE
At 30 November 2024 3,451,323 47,374 3,498,697
At 30 November 2023 3,451,323 49,169 3,500,492

Rew Hotels Limited (Registered number: 02039968)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS - continued

The land & buildings were revalued on 1 June 2014 as part of the transitional provisions of FRS 102 that allowed companies to revalue tangible fixed assets and retain these valuations as deemed cost. The valuations were undertaken by an independent firm of chartered surveyors. The valuation was £3,451,323, and the historical cost is £1,828,154.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors - 35,373
Other debtors 78,614 56,441
78,614 91,814

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 298,640 97,791
Trade creditors 94,369 119,077
Amounts owed to group undertakings 150,000 150,000
Taxation and social security 97,061 86,975
Other creditors 497,845 489,111
1,137,915 942,954

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 567,500 633,749

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 337,500 393,750

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loan 618,750 675,000

The bank loan is secured by charges over the company's property and an unlimited debenture over all assets of the company.

The bank loan is repayable in four equal instalments per annum ending in 2034 and carries interest at 2.1% over base rate.

10. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent is Livermead House Hotel Limited, incorporated in England and Wales.