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REGISTERED NUMBER:
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THE RED LION LIMITED |
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AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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REGISTERED NUMBER:
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THE RED LION LIMITED |
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AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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THE RED LION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
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BANKERS: |
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5/6 High street |
Hitchin |
Hertfordshire |
SG5 1BH |
THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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STATEMENT OF FINANCIAL POSITION |
28TH FEBRUARY 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
( |
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( |
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NET ASSETS |
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THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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STATEMENT OF FINANCIAL POSITION - continued |
28TH FEBRUARY 2019 |
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2019 | 2018 |
Notes | £ | £ |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Other reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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1. | STATUTORY INFORMATION |
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The Red Lion Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements are prepared on a going concern basis and under the historical cost |
convention. |
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Significant judgements and estimates |
No significant judgements or estimates have had to be made by the directors in preparing these |
financial statements. |
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Revenue |
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other |
taxes of sales made during the year. |
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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. |
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Property, plant and equipment |
Depreciation is provided at the following annual rates in order to write off each asset over its useful |
economic life: |
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Freehold property - not depreciated |
Improvements to property - 15 years on cost |
Plant nd machinery - 5 years on cost |
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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. |
THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Inventories |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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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. |
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Current or deferred tax assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
At 1st March 2018 |
and 28th February 2019 |
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Depreciation |
At 1st March 2018 |
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Charge for year |
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At 28th February 2019 |
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Net book value |
At 28th February 2019 |
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At 28th February 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Preference shares |
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THE RED LION LIMITED (REGISTERED NUMBER: 01672560) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 92,392 | 92,392 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Auditors' Report was unqualified. |
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for and on behalf of
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