Company registration number 07226588 (England and Wales)
The Riverside House Hotel Limited
Unaudited Financial Statements
For the year ended 31 August 2024
PAGES FOR FILING WITH REGISTRAR
The Riverside House Hotel Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The Riverside House Hotel Limited
Balance Sheet
As at 31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,297,388
1,349,823
Current assets
Stocks
16,149
16,912
Debtors
4
19,154
422,001
Cash at bank and in hand
140,990
96,609
176,293
535,522
Creditors: amounts falling due within one year
5
(818,159)
(1,172,333)
Net current liabilities
(641,866)
(636,811)
Net assets
655,522
713,012
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss reserves
653,522
711,012
Total equity
655,522
713,012

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 April 2025 and are signed on its behalf by:
Mr B A Keane
Director
Company registration number 07226588 (England and Wales)
The Riverside House Hotel Limited
Notes to the Financial Statements
For the year ended 31 August 2024
- 2 -
1
Accounting policies
Company information

The Riverside House Hotel Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1RJ.

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 and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Hotel accommodation income is recognised for each night as it takes place at the room rate for that night. Food and beverage income is recognised on the day provided to the customer at the price for the items purchased.

1.3
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
2% straight line
Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

The Riverside House Hotel Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price 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 fair 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, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2024
2023
Number
Number
Total
23
24
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
1,866,631
718,422
2,585,053
Depreciation and impairment
At 1 September 2023
577,216
658,014
1,235,230
Depreciation charged in the year
37,333
15,102
52,435
At 31 August 2024
614,549
673,116
1,287,665
Carrying amount
At 31 August 2024
1,252,082
45,306
1,297,388
At 31 August 2023
1,289,415
60,408
1,349,823
The Riverside House Hotel Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
10,644
343,246
Other debtors
8,510
78,755
19,154
422,001
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
48,975
44,101
Taxation and social security
57,023
99,777
Other creditors
712,161
1,028,455
818,159
1,172,333
6
Related party transactions
Transactions with related parties

Included within other creditors due within one year are amounts due to companies under common control of £128,869 (2023 - £450,579).

 

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