Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true282022-04-01falseNo description of principal activity37trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07928376 2022-04-01 2023-03-31 07928376 2021-04-01 2022-03-31 07928376 2023-03-31 07928376 2022-03-31 07928376 c:Director1 2022-04-01 2023-03-31 07928376 d:OfficeEquipment 2022-04-01 2023-03-31 07928376 d:OfficeEquipment 2023-03-31 07928376 d:OfficeEquipment 2022-03-31 07928376 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07928376 d:ComputerEquipment 2022-04-01 2023-03-31 07928376 d:ComputerEquipment 2023-03-31 07928376 d:ComputerEquipment 2022-03-31 07928376 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07928376 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07928376 d:CurrentFinancialInstruments 2023-03-31 07928376 d:CurrentFinancialInstruments 2022-03-31 07928376 d:Non-currentFinancialInstruments 2023-03-31 07928376 d:Non-currentFinancialInstruments 2022-03-31 07928376 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07928376 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07928376 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07928376 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07928376 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07928376 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07928376 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07928376 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 07928376 d:ShareCapital 2023-03-31 07928376 d:ShareCapital 2022-03-31 07928376 d:SharePremium 2023-03-31 07928376 d:SharePremium 2022-03-31 07928376 d:RetainedEarningsAccumulatedLosses 2023-03-31 07928376 d:RetainedEarningsAccumulatedLosses 2022-03-31 07928376 c:FRS102 2022-04-01 2023-03-31 07928376 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07928376 c:FullAccounts 2022-04-01 2023-03-31 07928376 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07928376 2 2022-04-01 2023-03-31 07928376 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 07928376









RIDGEWAY INFORMATION LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023














 
RIDGEWAY INFORMATION LTD
REGISTERED NUMBER:07928376

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,021
3,735

Investments
 5 
85
85

  
2,106
3,820

Current assets
  

Debtors: amounts falling due within one year
 6 
110,411
202,617

Cash at bank and in hand
  
72,273
82,558

  
182,684
285,175

Creditors: amounts falling due within one year
 7 
(242,145)
(142,880)

Net current (liabilities)/assets
  
 
 
(59,461)
 
 
142,295

Total assets less current liabilities
  
(57,355)
146,115

Creditors: amounts falling due after more than one year
 8 
(59,174)
(52,287)

  

Net (liabilities)/assets
  
(116,529)
93,828


Capital and reserves
  

Called up share capital 
  
159
159

Share premium account
  
4,986
4,986

Profit and loss account
  
(121,674)
88,683

  
(116,529)
93,828


Page 1

 
RIDGEWAY INFORMATION LTD
REGISTERED NUMBER:07928376
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.




J C Kidd
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Ridgeway Information Ltd is a private company, limited by shares, incorporated in England. The registered office is 165 High Street, Honiton, EX14 1LQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has considered the financial position of the company and notes that the company is in a net liability position. The director has provided the company an interest free loan to meet agreed payment plans and ongoing operational costs. Significant restructuring of the company's staffing has taken place with the effect of reducing expenditure on staffing by 50%. As staffing accounts for over 75% of the company's overall expenditure, the company remains able to meet its ongoing debt and operational costs. Contracts with the UK government and UN agencies have been renewed for the next 12 months, and is sufficient to cover the operational costs.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
straight-line
Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

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.

Page 5

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term 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.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2022 - 37).

Page 6

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
1,217
11,182
12,399


Additions
-
508
508



At 31 March 2023

1,217
11,690
12,907



Depreciation


At 1 April 2022
528
8,136
8,664


Charge for the year on owned assets
243
1,979
2,222



At 31 March 2023

771
10,115
10,886



Net book value



At 31 March 2023
446
1,575
2,021



At 31 March 2022
689
3,046
3,735


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
85



At 31 March 2023
85




Page 7

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
94,593
196,448

Amounts owed by group undertakings
15,818
6,169

110,411
202,617



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,932
9,707

Other taxation and social security
170,608
121,362

Other creditors
60,480
10,761

Accruals and deferred income
1,125
1,050

242,145
142,880



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,274
32,387

Other creditors
35,900
19,900

59,174
52,287


Page 8

 
RIDGEWAY INFORMATION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,932
9,707


9,932
9,707

Amounts falling due 1-2 years

Bank loans
10,183
9,952


10,183
9,952

Amounts falling due 2-5 years

Bank loans
13,091
22,435


13,091
22,435


33,206
42,094



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £48,305 (2022 - £51,434). Contributions totalling £50,349 (2022 - £9,212) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9