Registration number:
RTR Catering Limited
for the Year Ended 31 December 2024
RTR Catering Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
RTR Catering Limited
Company Information
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Directors |
Ms H Reeves Mrs Victoria Tomlinson Cheney Miss Clara Tomlinson |
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Registered office |
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Accountants |
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RTR Catering Limited
(Registration number: SC141679)
Statement of Financial Position as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3 |
3 |
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Revaluation reserve |
804,884 |
839,083 |
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Retained earnings |
570,035 |
768,001 |
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Shareholders' funds |
1,374,922 |
1,607,087 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
RTR Catering Limited
(Registration number: SC141679)
Statement of Financial Position as at 31 December 2024
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
The principal place of business is:
The Moulin Hotel
MOULIN
Perthshire
PH16 5EW
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Going concern
Given the current economic environment, there remains a risk that the external trading environment may be worse than currently envisaged, and as a result, the directors of RTR Catering Limited have reviewed forecasts which include sensitivities that make allowance for that risk. Should such a scenario arise, the directors of RTR Catering Limited have confidence that they have adequate liquidity and covenant headroom to ensure that the group can meet its liabilities as they fall due for the foreseeable future. After taking this into account the directors of RTR Catering Limited consider that it is appropriate to prepare these accounts on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Asset class |
Depreciation method and rate |
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Land and buildings freehold |
2% straight line |
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Land and buildings leasehold |
Straight line over the life of the lease |
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Fixtures, fittings, tools and equipment |
5 - 15% reducing balance |
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Motor vehicles |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Loss before tax |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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Disposals |
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( |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
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- |
( |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £1,424,984 (2023 - £1,460,751) in respect of freehold land and buildings and £162,648 (2023 - £171,684) in respect of long leasehold land and buildings.
RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Revaluation
The fair value of the company's Land and Buildings was revalued on
The leasehold properties were revalued on 26 September 2018 by Graham & Sibbald a chartered surveyor on the basis of a desktop value for current use at £250,000. There are no acquisition costs included in the revalued leasehold property nor have any expected selling costs been deducted.
The freehold properties were revalued on 07 October 2014 by Graham & Sibbald a chartered surveyor on the basis of a desktop value for current use and a further revaluation on 07 February 2023 was also carried out by Graham & Sibbald for the purpose of determining market value on a trade related basis for loan security purposes on behalf of the Royal Bank of Scotland. The freehold properties are valued at £1,510,000. There are no acquisition costs included in the revalued freehold property nor have any expected selling costs been deducted.
As is customary, prior to the revalued figures being incorporated in the accounts the Net Book Value of Fixtures and Fittings has been removed from the valuations.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
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Stocks |
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2024 |
2023 |
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Finished goods and goods for resale |
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Debtors |
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Current |
Note |
2024 |
2023 |
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Amounts owed by related parties |
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Prepayments |
- |
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Other debtors |
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RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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3 |
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3 |
RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
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Revaluation reserve |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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HP and finance lease liability 1 (1-2 yrs) |
83,848 |
24,578 |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Bank overdrafts |
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HP and finance lease liability 1 (under 1yr) |
20,082 |
10,833 |
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RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Bank borrowings
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The bank loan is paid monthly and the interest rate is 2.4% per annum over base rate. |
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The bank loan is an interest only repayment for the first year and thereafter monthly repayments. The interest rate is 2.4% per annum over base. |
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The bank loan is paid monthly and the interest rate is determined by the bank.
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RTR Catering Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Related party transactions |
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Transactions with directors |
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2024 |
At 1 January 2024 |
Advances to director |
At 31 December 2024 |
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Ms H Reeves |
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Loan |
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2023 |
At 1 January 2023 |
Advances to director |
At 31 December 2023 |
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Ms H Reeves |
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Loan |
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Summary of transactions with parent
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Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Companies House, Crown Way, Cardiff