Ripe Digital Ltd 31/03/2023 iXBRL

Company registration number: 03150935

Ripe Digital Ltd

Unaudited filleted financial statements

31 March 2023

Ripe Digital Ltd

Contents

Directors and other information

Accountant's report

Statement of financial position

Notes to the financial statements

Ripe Digital Ltd

Directors and other information


	Directors	P Hannen
		R Penny
		C Humphries


	Secretary	P Hannen


	Company number	03150935


	Registered office	Unit 1 Park Lane Industrial Estate
		Corsham
		Wiltshire
		SN13 9LG


	Accountant	Leslie, Ward and Drew
		Temple Court
		8 The Causeway
		Chippenham
		Wiltshire
		SN15 3BT

Ripe Digital Ltd

Chartered accountant's report to the board of directors on the preparation of the

unaudited statutory financial statements of Ripe Digital Ltd

Year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Ripe Digital Ltd for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Ripe Digital Ltd, as a body, in accordance with the terms of my engagement letter dated 25 March 2011. My work has been undertaken solely to prepare for your approval the financial statements of Ripe Digital Ltd and state those matters that we have agreed to state to the board of directors of Ripe Digital Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Ripe Digital Ltd and its board of directors as a body for my work or for this report.

It is your duty to ensure that Ripe Digital Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ripe Digital Ltd. You consider that Ripe Digital Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Ripe Digital Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Leslie, Ward and Drew

Chartered Accountants & Chartered Tax Advisers

Temple Court

8 The Causeway

Chippenham

Wiltshire

SN15 3BT

Date: 3 October 2023

Ripe Digital Ltd

Statement of financial position

31 March 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Tangible assets	5	121,021		149,919
		_______		_______
			121,021		149,919

Current assets
Stocks		25,057		26,573
Debtors	6	88,992		81,384
Cash at bank and in hand		110,879		121,488
		_______		_______
		224,928		229,445
Creditors: amounts falling due
within one year	7	( 131,435)		( 107,499)
		_______		_______
Net current assets			93,493		121,946
			_______		_______
Total assets less current liabilities			214,514		271,865

Creditors: amounts falling due
after more than one year	8		( 59,382)		( 69,370)

Provisions for liabilities	9		( 29,150)		( 36,132)

			_______		_______
Net assets			125,982		166,363
			_______		_______

Capital and reserves
Called up share capital			1,065		1,065
Profit and loss account			124,917		165,298
			_______		_______
Shareholders funds			125,982		166,363
			_______		_______

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 03 October 2023 , and are signed on behalf of the board by:

R Penny C Humphries P Hannen

Director Director Director

Company registration number: 03150935

Ripe Digital Ltd

Notes to the financial statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 Park Lane Industrial Estate, Corsham, Wiltshire, SN13 9LG.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Long leasehold property	-	Straight line over the life of the lease
Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	15 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost
At 1 April 2022	76,094	966,629	48,011	1,090,734
Additions	-	1,038	-	1,038
	_______	_______	_______	_______
At 31 March 2023	76,094	967,667	48,011	1,091,772
	_______	_______	_______	_______
Depreciation
At 1 April 2022	76,094	816,391	48,330	940,815
Charge for the year	-	30,255	( 319)	29,936
	_______	_______	_______	_______
At 31 March 2023	76,094	846,646	48,011	970,751
	_______	_______	_______	_______
Carrying amount
At 31 March 2023	-	121,021	-	121,021
	_______	_______	_______	_______
At 31 March 2022	-	150,238	( 319)	149,919
	_______	_______	_______	_______

6. Debtors

	2023	2022
	£	£
Trade debtors	77,217	70,050
Other debtors	11,775	11,334
	_______	_______
	88,992	81,384
	_______	_______

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	43,049	40,090
Social security and other taxes	26,803	17,997
Other creditors	61,583	49,412
	_______	_______
	131,435	107,499
	_______	_______

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	59,382	69,370
	_______	_______

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1 April 2022	36,132	36,132
Movement	( 6,982)	( 6,982)
	_______	_______
At 31 March 2023	29,150	29,150
	_______	_______

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2023	2022
	£	£
Included in provisions (note 9)	29,150	36,132
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2023	2022
	£	£
Accelerated capital allowances	29,150	36,132
	_______	_______

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting policies.