Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28true42022-03-014falsefalseSpecialised construction activitiesThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07391593 2022-03-01 2023-02-28 07391593 2021-03-01 2022-02-28 07391593 2023-02-28 07391593 2022-02-28 07391593 c:Director3 2022-03-01 2023-02-28 07391593 d:CurrentFinancialInstruments 2023-02-28 07391593 d:CurrentFinancialInstruments 2022-02-28 07391593 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07391593 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07391593 d:ShareCapital 2023-02-28 07391593 d:ShareCapital 2022-02-28 07391593 d:RetainedEarningsAccumulatedLosses 2023-02-28 07391593 d:RetainedEarningsAccumulatedLosses 2022-02-28 07391593 c:FRS102 2022-03-01 2023-02-28 07391593 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07391593 c:FullAccounts 2022-03-01 2023-02-28 07391593 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07391593 e:PoundSterling 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 07391593









RIDGEWOOD CONTRACTORS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
RIDGEWOOD CONTRACTORS LIMITED
REGISTERED NUMBER: 07391593

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
109,321
-

Debtors: amounts falling due within one year
 5 
135,957
-

Cash at bank and in hand
 6 
2,689
150

  
247,967
150

Creditors: amounts falling due within one year
 7 
(249,962)
-

Net current (liabilities)/assets
  
 
 
(1,995)
 
 
150

Total assets less current liabilities
  
(1,995)
150

  

Net (liabilities)/assets
  
(1,995)
150


Capital and reserves
  

Called up share capital 
  
350
150

Profit and loss account
  
(2,345)
-

  
(1,995)
150


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 by: 




C S G Marriott
Director

Page 1

 
RIDGEWOOD CONTRACTORS LIMITED
REGISTERED NUMBER: 07391593
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

Date: 29 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
RIDGEWOOD CONTRACTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Ridgewood Contractors Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements. The Directors will continue to support the company through loans. 

Page 3

 
RIDGEWOOD CONTRACTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

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 4

 
RIDGEWOOD CONTRACTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

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.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
4
4


4.


Stocks

2023
2022
£
£

Long-term contract balances
109,321
-

109,321
-


Page 5

 
RIDGEWOOD CONTRACTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Other debtors
135,957
-

135,957
-



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,689
150

2,689
150



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
139,141
-

Accruals and deferred income
110,821
-

249,962
-



8.


Related party transactions

Including in other creditors are loans from directors to the company of £139,141 (2022: £nil). 
Included in other debtors there is a loan to a related company by virtue of common control of £89,457 (2022: £nil). There is no interest charged on these loans and they are repayable upon demand.

 
Page 6