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REGISTERED NUMBER: 05824501 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

RIDGEWOOD CONTRACTS LIMITED

RIDGEWOOD CONTRACTS LIMITED (REGISTERED NUMBER: 05824501)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


RIDGEWOOD CONTRACTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: M J Day
J E Day
Mrs J D Scorgie
Ms B Clohessy





SECRETARY: M J Day





REGISTERED OFFICE: Bank Farm Bungalow
Outwoods
Newport
Shropshire
TF10 9ED





REGISTERED NUMBER: 05824501 (England and Wales)





ACCOUNTANTS: Wright & Co Partnership Limited
Chartered Accountants
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ

RIDGEWOOD CONTRACTS LIMITED (REGISTERED NUMBER: 05824501)

ABRIDGED BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,046,220 927,969

CURRENT ASSETS
Debtors 487,416 484,978
Cash at bank 3 75,710
487,419 560,688
CREDITORS
Amounts falling due within one year 630,759 580,928
NET CURRENT LIABILITIES (143,340 ) (20,240 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

902,880

907,729

CREDITORS
Amounts falling due after more than one year (505,620 ) (366,773 )

PROVISIONS FOR LIABILITIES 5 (183,478 ) (176,314 )
NET ASSETS 213,782 364,642

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 213,679 364,539
SHAREHOLDERS' FUNDS 213,782 364,642

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

RIDGEWOOD CONTRACTS LIMITED (REGISTERED NUMBER: 05824501)

ABRIDGED BALANCE SHEET - continued
31 May 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 November 2023 and were signed on its behalf by:





M J Day - Director


RIDGEWOOD CONTRACTS LIMITED (REGISTERED NUMBER: 05824501)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Ridgewood Contracts 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2022 - 7 ) .

RIDGEWOOD CONTRACTS LIMITED (REGISTERED NUMBER: 05824501)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 2,125,774
Additions 581,956
Disposals (432,493 )
At 31 May 2023 2,275,237
DEPRECIATION
At 1 June 2022 1,197,805
Charge for year 264,440
Eliminated on disposal (233,228 )
At 31 May 2023 1,229,017
NET BOOK VALUE
At 31 May 2023 1,046,220
At 31 May 2022 927,969

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 June 2022 1,814,925
Additions 559,664
Disposals (422,125 )
At 31 May 2023 1,952,464
DEPRECIATION
At 1 June 2022 979,077
Charge for year 233,055
Eliminated on disposal (211,673 )
At 31 May 2023 1,000,459
NET BOOK VALUE
At 31 May 2023 952,005
At 31 May 2022 835,848

5. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 183,478 176,314

RIDGEWOOD CONTRACTS LIMITED (REGISTERED NUMBER: 05824501)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

5. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 176,314
Charge to Income Statement during year 7,164
Balance at 31 May 2023 183,478

6. ULTIMATE CONTROLLING PARTY

The controlling party is M J Day.