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REGISTERED NUMBER: 02242342 (England and Wales)









RIDON GLASS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






RIDON GLASS LIMITED (REGISTERED NUMBER: 02242342)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIDON GLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D S Tidby
Mr B J Tidby



SECRETARY: Mr D S Tidby



REGISTERED OFFICE: 120-124 MacNaghten Road
Bitterne
Southampton
Hampshire
SO18 1GH



REGISTERED NUMBER: 02242342 (England and Wales)



ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
Havant
Hampshire
PO9 1QU



BANKERS: Barclays Bank plc
Southampton Corporate Banking Centre
PO Box 612
Ocean Village
Southampton
Hampshire
SO14 2SB

RIDON GLASS LIMITED (REGISTERED NUMBER: 02242342)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,500 26,000
Tangible assets 5 40,226 46,351
59,726 72,351

CURRENT ASSETS
Stocks 20,136 20,670
Debtors 6 212,843 181,048
Cash at bank and in hand 435,079 418,190
668,058 619,908
CREDITORS
Amounts falling due within one year 7 221,048 223,814
NET CURRENT ASSETS 447,010 396,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

506,736

468,445

CREDITORS
Amounts falling due after more than one
year

8

-

(38,371

)

PROVISIONS FOR LIABILITIES (6,849 ) (6,177 )
NET ASSETS 499,887 423,897

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 498,887 422,897
SHAREHOLDERS' FUNDS 499,887 423,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

RIDON GLASS LIMITED (REGISTERED NUMBER: 02242342)

BALANCE SHEET - continued
31 MARCH 2023


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 25 October 2023 and were signed on its behalf by:





Mr D S Tidby - Director


RIDON GLASS LIMITED (REGISTERED NUMBER: 02242342)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Ridon Glass Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of Value Added Tax. The revenue is recognised at the point when the company satisfies a performance obligation to a customer as agreed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is derived on an average cost basis. Net realisable value is the estimated proceeds from the sale of stock less all further costs to completion.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method


RIDON GLASS LIMITED (REGISTERED NUMBER: 02242342)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation 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 taxation 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 115,000
AMORTISATION
At 1 April 2022 89,000
Charge for year 6,500
At 31 March 2023 95,500
NET BOOK VALUE
At 31 March 2023 19,500
At 31 March 2022 26,000

RIDON GLASS LIMITED (REGISTERED NUMBER: 02242342)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 271,769
Additions 9,795
Disposals (8,000 )
At 31 March 2023 273,564
DEPRECIATION
At 1 April 2022 225,418
Charge for year 15,920
Eliminated on disposal (8,000 )
At 31 March 2023 233,338
NET BOOK VALUE
At 31 March 2023 40,226
At 31 March 2022 46,351

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 208,343 173,107
Prepayments 4,500 7,941
212,843 181,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 8,158
Trade creditors 41,748 46,158
Corporation tax 43,642 42,786
Social security and other taxes 14,760 11,336
VAT 43,254 29,441
Directors' current accounts 65,192 64,880
Accrued expenses 12,452 21,055
221,048 223,814

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 8,364
Bank loans - 2-5 years - 30,007
- 38,371