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REGISTERED NUMBER: 03014804 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

RIDGWAY AVIATION LIMITED

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RIDGWAY AVIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: T R Jones
S R Jones





SECRETARY: T R Jones





REGISTERED OFFICE: Earthmover House
Ridgway Business Park
St Martins
Shropshire
SY11 3PZ





REGISTERED NUMBER: 03014804 (England and Wales)





AUDITORS: D.R.E. & Co. (Audit) Limited
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 122,895 97,826

CURRENT ASSETS
Stocks 346 346
Debtors 6 460 6,471
Cash at bank 2,278 990
3,084 7,807
CREDITORS
Amounts falling due within one year 7 22,154 4,116
NET CURRENT (LIABILITIES)/ASSETS (19,070 ) 3,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,825

101,517

PROVISIONS FOR LIABILITIES 8 12,988 13,146
NET ASSETS 90,837 88,371

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 29,843 -
Retained earnings 9 60,992 88,369
SHAREHOLDERS' FUNDS 90,837 88,371

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 6 November 2023 and were signed on its behalf by:





T R Jones - Director


RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Ridgway Aviation Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements are for the individual entity only.

These financial statements are presented in Sterling (£), rounded to the nearest £1.

At the year end the company had net current liabilities of £19,070 (2022: Net current assets £3,691). The company finances its working capital requirements via loans from other group companies. The director has reviewed the support of group companies and fully expect it to continue for the foreseeable future. The director therefore considers the going concern basis to be appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Landing strip - not provided
Buildings and Hangers - 25% on cost
Aircraft - 5% on cost
Plant and Machinery - 10% on cost

Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to it working condition for its intended use.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Buildings
Landing and Plant and
strip Hangers Aircraft Machinery Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2022 20,173 19,891 101,575 14,977 156,616
Additions - - 447 - 447
Revaluations - - 29,843 - 29,843
At 30 April 2023 20,173 19,891 131,865 14,977 186,906
DEPRECIATION
At 1 May 2022 - 19,891 24,922 13,977 58,790
Charge for year - - 5,101 120 5,221
At 30 April 2023 - 19,891 30,023 14,097 64,011
NET BOOK VALUE
At 30 April 2023 20,173 - 101,842 880 122,895
At 30 April 2022 20,173 - 76,653 1,000 97,826

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2023 is represented by:

Buildings
Landing and Plant and
strip Hangers Aircraft Machinery Totals
£    £    £    £    £   
Valuation in 2023 - - 29,843 - 29,843
Cost 20,173 19,891 102,022 14,977 157,063
20,173 19,891 131,865 14,977 186,906

If the aircraft had not been revalued it would have been included at the following historical cost:

30.4.23 30.4.22
£    £   
Cost 102,022 101,575
Aggregate depreciation 30,022 24,921

The aircraft was valued on an open market basis on 30 April 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Amounts owed by group undertakings - 6,471
Other debtors 460 -
460 6,471

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Amounts owed to group undertakings 17,938 -
Taxation and social security 216 316
Other creditors 4,000 3,800
22,154 4,116

8. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax
Accelerated capital allowances 12,988 13,146

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2022 13,146
Provided during year (158 )
Balance at 30 April 2023 12,988

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2022 88,369 - 88,369
Deficit for the year (27,377 ) (27,377 )
Revaluation in the year - 29,843 29,843
At 30 April 2023 60,992 29,843 90,835

Included within retained earnings are non distributable reserves of £29,843 (2022 Nil).

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Francis Nock F.C.C.A. (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Sandford Assets Limited. Sandford Assets Limited is the parent of the smallest
group for which consolidated financial statements are prepared, which include Ridgway Aviation Limited.

The ultimate parent company is Ridgway Holdings Limited, a company registered in England and Wales.

Ridgway Holdings Limited is the parent of the largest group for which consolidated financial statements are
prepared, which include Ridgway Aviation Limited.

Group accounts are freely available from Companies House.

The registered office of both the immediate parent company and the ultimate parent company is Earthmover House Ridgway Business Park, St Martins, Oswestry, Shropshire, SY11 3PZ.

The ultimate controlling party is T R Jones Esq and Mrs W M Jones, by virtue of their controlling shareholding
in the ultimate parent company, Ridgway Holdings Limited.