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Ridgeway Auto Services Limited
Registered Number:02060093
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2021
Ridgeway Auto Services Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
02060093
As at 31 December 2021
Ridgeway Auto Services Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
11,547
12,830
2
11,547
12,830
Current assets
24,516
Cash and cash equivalents
8,684
8,684
24,516
Trade and other payables: amounts falling due within one year
(43,860)
(43,020)
3
(19,344)
(34,336)
Net current liabilities
Total assets less current liabilities
(22,789)
(6,514)
(22,789)
Net liabilities
(6,514)
Capital and reserves
Called up share capital
166,450
166,450
Revaluation reserve
7,390
7,390
4
Retained earnings
(196,629)
(180,354)
(22,789)
(6,514)
Shareholders' funds
For the year ended 31 December 2021 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 of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Michael Westover Director
These financial statements were approved and authorised for issue by the Board on 26 August 2022 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2021
Ridgeway Auto Services Limited
Notes to the Financial Statements
Statutory Information
Ridgeway Auto Services Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 02060093.
Principal place of business:
c/o Westhurst Cottage
Eckington Road
Bredon, Tewkesbury
Gloucestershire
GL20 7EX
Registered address:
40 High Street
Pershore
Worcestershire
WR10 1DP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
assets.
Significant judgements and estimates
The principal accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
10% Reducing balance
33% Straight line
Computer equipment
20% Straight line
Motor vehicles
20% Straight line
Fixtures and fittings
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5
For the year ended 31 December 2021
Ridgeway Auto Services Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or valuation
At 01 January 2021
73,806
102
30,975
42,729
At 31 December 2021
42,729
30,975
102
73,806
Provision for depreciation and impairment
At 01 January 2021
60,976
102
30,975
29,899
Charge for year
1,283
-
-
1,283
At 31 December 2021
62,259
102
30,975
31,182
At 31 December 2021
Net book value
11,547
-
-
11,547
At 31 December 2020
12,830
-
-
12,830
3. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Other creditors
43,020
43,860
4. Reserves
Total
£
Revaluation reserve at 01 January 2021
7,390
7,390
Revaluation reserve at 31 December 2021
5. Average number of persons employed
During the year the average number of employees was 1 including directors (2020 : 1)
6. Transition to FRS 102
The principal accounting polices applied in the preparation of the financial statements are set out above. These policies have
been consistently applied to all the years presented, unless otherwise stated. No changes have arisen as a result of the
transition to Section 1A of Financial Reporting Standard 102.
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