Red Lion Limited(The) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01672560 (England and Wales)

RED LION LIMITED(THE)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

A J Jeffers

A C Morecroft

A D Loustau

B W Waters BEM

D I Clark

D P Dixon

G Ide

H P Trinder

SECRETARY:

D P Dixon

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

01672560 (England and Wales)

AUDITORS:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

BANKERS:

Barclays Bank PLC

5/6 High street

Hitchin

Hertfordshire

SG5 1BH

FIXED ASSETS

Property, plant and equipment

5

330,090

325,103

CURRENT ASSETS

Inventories

7,506

7,874

Debtors

6

2,524

2,177

Cash at bank and in hand

25,173

38,552

35,203

48,603

CREDITORS

Amounts falling due within one year

7

(50,756

)

(50,068

)

NET CURRENT LIABILITIES

(15,553

)

(1,465

)

TOTAL ASSETS LESS CURRENT LIABILITIES

314,537

323,638

CREDITORS

Amounts falling due after more than one year

8

(70,000

)

(80,000

)

NET ASSETS

244,537

243,638

CAPITAL AND RESERVES

Called up share capital

9

92,392

92,392

Share premium

2,959

2,959

Other reserves

2,188

2,188

Retained earnings

146,998

146,099

SHAREHOLDERS' FUNDS

244,537

243,638

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th August 2020 and were signed on its behalf by:

A D Loustau - Director

A J Jeffers - Director

1.	STATUTORY INFORMATION

Red Lion Limited(The) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost

convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Revenue recognition

Revenue is recognised when goods have been delivered and services supplied to customers such that

risks and rewards of ownership have transferred to them.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its useful

economic life:

Freehold property - not depreciated

Improvements to property - 15 years on cost

Plant nd machinery - 5 years on cost

Schedule 4 of the Companies Act 2006 and Financial Reporting Standard 102, "Tangible Fixed Assets"

both require that provision be made for depreciation of fixed assets having a finite useful life.

However, in the opinion of the directors, the residual value at the end of the estimated life of the

freehold land and buildings represented by The Red Lion Public House is not likely to be materially

lower than cost. It is the company's policy to maintain the property in such a condition that its value is

not diminished by the passage of time and maintenance expenditure is charged to profit before tax in

the year in which it is incurred. Therefore any depreciation is not material and no provision is made.

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Inventory is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

Tax

Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 5 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1st March 2019

319,082

26,143

345,225

Additions

-

7,669

7,669

At 29th February 2020

319,082

33,812

352,894

Depreciation

At 1st March 2019

-

20,122

20,122

Charge for year

-

2,682

2,682

At 29th February 2020

-

22,804

22,804

Net book value

At 29th February 2020

319,082

11,008

330,090

At 28th February 2019

319,082

6,021

325,103

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2,524

2,177

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

8,959

7,601

Taxation and social security

5,716

6,176

Other creditors

36,081

36,291

50,756

50,068

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

70,000

80,000

2020

2019

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

70,000

80,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

92,392

Ordinary

£1

92,392

92,392

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

M R Hubbocks FCA (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs

11.	POST BALANCE SHEET EVENTS

The outbreak of coronavirus, also known as Covid 19 has spread across the globe and is impacting

worldwide economic activity. Conditions surrounding the coronavirus continue to rapidly evolve and in

early 2020, government authorities implemented emergency measures to mitigate the spread of the

virus. The Company has taken advantage of UK governments employment financial grants.The

outbreak and the related mitigation measures may have an adverse impact on the global economic

conditions as well as on the Company's business activities. The extent to which the coronavirus may

impact the Company's business will depend on future developments. These events are uncertain and

as such, the Company cannot determine their financial impact at this time.