REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30 November 2024 |
for |
Rew Hotels Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Retained earnings |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 December 2023 |
and 30 November 2024 |
AMORTISATION |
At 1 December 2023 |
and 30 November 2024 |
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 |
Additions |
At 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
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 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans |
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. |