Richardson Hotels Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04241043

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		8,595,706		16,200,602

			8,595,706		16,200,602
CURRENT ASSETS
Stocks		58,254		55,319
Debtors	5	1,717,265		624,470
Cash at bank and in hand		50,256		-

		1,825,775		679,789
Creditors: Amounts Falling Due Within One Year	6	(1,592,051 )		(4,930,813 )

NET CURRENT ASSETS (LIABILITIES)			233,724		(4,251,024 )

TOTAL ASSETS LESS CURRENT LIABILITIES			8,829,430		11,949,578

Creditors: Amounts Falling Due After More Than One Year	7		-		(375,000 )

NET ASSETS			8,829,430		11,574,578

CAPITAL AND RESERVES
Called up share capital	8		50,000		50,000
Revaluation reserve	9		2,213,072		5,097,637
Profit and Loss Account			6,566,358		6,426,941

SHAREHOLDERS' FUNDS			8,829,430		11,574,578

Page 1

Page 2

Richardson Hotels Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Eric Keith Richardson

Director

23 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Richardson Hotels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04241043 . The registered office is C/O Richardson & Co, 13 Oxford Road, Altrincham, WA14 2DY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation provided
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Reducing balance

The Company has a policy of ensuring all properties are maintained to suitable standard. The directors consider therefore that depreciation is not required.

The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.4. Stocks and Work in Progress

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

2.5. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.6. Finance Costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7. Borrowing Costs

All borrowing costs are recognised in the Statement of comprehensive income in the period in which they incurred.

Page 3

Page 4

Richardson Hotels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost or Valuation
As at 1 April 2024	15,367,835	16,125	4,665,710	20,049,670
Additions	29,560	-	-	29,560
Disposals	(4,370,408 )	(4,875 )	(1,072,393 )	(5,447,676 )
Revaluation	(2,884,565 )	-	-	(2,884,565 )

As at 31 March 2025	8,142,422	11,250	3,593,317	11,746,989

Depreciation
As at 1 April 2024	-	8,842	3,840,226	3,849,068
Provided during the period	-	2,702	150,018	152,720
Disposals	-	(3,525 )	(846,980 )	(850,505 )

As at 31 March 2025	-	8,019	3,143,264	3,151,283

Net Book Value
As at 31 March 2025	8,142,422	3,231	450,053	8,595,706

As at 1 April 2024	15,367,835	7,283	825,484	16,200,602

During the year, the Company disposed of the Falmouth Hotel located in Falmouth, Cornwall, which had previously been carried at revalued amount under the revaluation model.

At the date of the disposal, the property and its respected fixtures and fittings, had a carrying value of £7,480,386, including revaluation. Net proceeds from the disposal amounted to £4,962,095, resulting in a profit of £366,274 on disposal which has been recognised within the other operating income in the profit and loss account.

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	13,272	114,268
Prepayments and accrued income	165,759	74,344
Other debtors	99,046	102,290
Amounts owed by group undertakings	1,439,188	333,568

	1,717,265	624,470

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

Page 5

Richardson Hotels Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	379,522	708,097
Bank overdraft	-	597,596
Bank loans due within one year	-	1,657,553
Other creditors	181,687	391,225
Accruals and deferred income	113,648	251,976
Directors' loan accounts	917,194	1,324,366

	1,592,051	4,930,813

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

Bank loans and Director's loans security provided:

There are fixed and floating charges over the assets of the Company.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	375,000

Bank loans are secured by a fixed and floating charge over all the Company's assets and repayable within 5 years.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	50,000	50,000

9. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 April 2024	5,097,637	6,426,941
Profit for the year and total comprehensive income	-	139,417

Transfer to/from Profit & Loss Account	(2,884,565 )	-

As at 31 March 2025	2,213,072	6,566,358

Revaluation reserve transferred to Profit and loss on disposal of the Falmouth Hotel on 2 May 2024

10. Related Party Transactions

The Company is a wholly owned subsidiary of Richardson Hotels Holdings Limited and has taken advantage of the exemption in paragraph 33.1A of FRS102 in not to disclose intra group transactions where 100% of the voting rights are controlled within the group.

11. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Richardson Hotels Holdings Limited . Richardson Hotels Holdings Limited was incorporated in England and Wales, the registered office is 13 Oxford Road, Altrincham, WA14 2DY . The ultimate controlling party is EK Richardson .

Page 5