Company Registration No. 10014492 (England and Wales)
Red Lion (Upper Basildon) Limited
Unaudited accounts
for the year ended 31 May 2020
Red Lion (Upper Basildon) Limited
Unaudited accounts
Contents
Red Lion (Upper Basildon) Limited
Company Information
for the year ended 31 May 2020
Directors
Rafi Razzak
Ramsey Razzak
Adam Razzak
Company Number
10014492 (England and Wales)
Registered Office
Kiln Farm
Upper Basildon
Berkshire
RG88SX
England
Accountants
D G Accountancy & Taxation Services
26 Hillary Way
Wheatley
Oxford
Oxfordshire
OX33 1UY
Red Lion (Upper Basildon) Limited
Statement of financial position
as at 31 May 2020
Intangible assets
52,182
57,273
Tangible assets
5,421
11,512
Cash at bank and in hand
33,165
9,664
Creditors: amounts falling due within one year
(646,099)
(557,102)
Net current liabilities
(590,794)
(517,913)
Net liabilities
(533,191)
(449,128)
Called up share capital
100
100
Profit and loss account
(533,291)
(449,228)
Shareholders' funds
(533,191)
(449,128)
For the year ending 31 May 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2020 and were signed on its behalf by
Rafi Razzak
Director
Company Registration No. 10014492
Red Lion (Upper Basildon) Limited
Notes to the Accounts
for the year ended 31 May 2020
Red Lion (Upper Basildon) Limited is a private company, limited by shares, registered in England and Wales, registration number 10014492. The registered office is Kiln Farm, Upper Basildon, Berkshire, RG88SX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets are included at cost less accumulated amortisation.
Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight line method. The intangible assets are amortised over the following useful economic life:
Goodwill 13.75 years
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line basis at 25% per annum
Fixtures & fittings
Straight Line basis at 25% per annum
4
Intangible fixed assets
Goodwill
Red Lion (Upper Basildon) Limited
Notes to the Accounts
for the year ended 31 May 2020
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2019
17,308
8,000
25,308
At 31 May 2020
17,599
8,000
25,599
At 1 June 2019
8,796
5,000
13,796
Charge for the year
4,382
2,000
6,382
At 31 May 2020
13,178
7,000
20,178
At 31 May 2020
4,421
1,000
5,421
At 31 May 2019
8,512
3,000
11,512
Finished goods
4,553
4,294
Accrued income and prepayments
5,290
17,030
Other debtors
12,297
8,201
8
Creditors: amounts falling due within one year
2020
2019
Trade creditors
16,126
32,548
Taxes and social security
7,231
14,380
Other creditors
14,997
14,996
Loans from directors
605,505
490,505
9
Operating lease commitments
2020
2019
At 31 May 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
299,828
329,138
Red Lion (Upper Basildon) Limited
Notes to the Accounts
for the year ended 31 May 2020
10
Transactions with related parties
Included in creditors are directors' current account balances amounting to £605,505 (2019 £490,505). The loans are unsecured, interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 11 (2019: 9).
