Ripple Holdings Ltd 14006108 false 2022-03-28 2023-03-31 2023-03-31 The principal activity of the company is Property rental company Digita Accounts Production Advanced 6.30.9574.0 true 14006108 2022-03-28 2023-03-31 14006108 2023-03-31 14006108 core:RetainedEarningsAccumulatedLosses 2023-03-31 14006108 core:ShareCapital 2023-03-31 14006108 core:CurrentFinancialInstruments 2023-03-31 14006108 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14006108 core:FurnitureFittingsToolsEquipment 2023-03-31 14006108 bus:SmallEntities 2022-03-28 2023-03-31 14006108 bus:AuditExemptWithAccountantsReport 2022-03-28 2023-03-31 14006108 bus:FullAccounts 2022-03-28 2023-03-31 14006108 bus:SmallCompaniesRegimeForAccounts 2022-03-28 2023-03-31 14006108 bus:RegisteredOffice 2022-03-28 2023-03-31 14006108 bus:Director1 2022-03-28 2023-03-31 14006108 bus:Director2 2022-03-28 2023-03-31 14006108 bus:PrivateLimitedCompanyLtd 2022-03-28 2023-03-31 14006108 core:FurnitureFittings 2022-03-28 2023-03-31 14006108 core:FurnitureFittingsToolsEquipment 2022-03-28 2023-03-31 14006108 countries:England 2022-03-28 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14006108

Ripple Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Period from 28 March 2022 to 31 March 2023

 

Ripple Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Ripple Holdings Ltd

Company Information

Directors

Mr J Arbuthnot

Mrs C Arbuthnot

Registered office

Oakmoore Court Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Ripple Holdings Ltd

(Registration number: 14006108)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

27,004

Investment property

5

1,698,450

 

1,725,454

Current assets

 

Debtors

6

6,160

Cash at bank and in hand

 

37,579

 

43,739

Creditors: Amounts falling due within one year

7

(1,745,998)

Net current liabilities

 

(1,702,259)

Total assets less current liabilities

 

23,195

Provisions for liabilities

(4,388)

Net assets

 

18,807

Capital and reserves

 

Called up share capital

100

Retained earnings

18,707

Shareholders' funds

 

18,807

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

 

Ripple Holdings Ltd

(Registration number: 14006108)
Balance Sheet as at 31 March 2023

.........................................
Mr J Arbuthnot
Director

.........................................
Mrs C Arbuthnot
Director

 
 

Ripple Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Oakmoore Court Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
Great Britain

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ripple Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 March 2022 to 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Ripple Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 March 2022 to 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

36,005

36,005

At 31 March 2023

36,005

36,005

Depreciation

Charge for the period

9,001

9,001

At 31 March 2023

9,001

9,001

Carrying amount

At 31 March 2023

27,004

27,004

5

Investment properties

2023
£

Additions

1,698,450

At 31 March

1,698,450

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

Prepayments

6,160

 

Ripple Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 28 March 2022 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Amounts owed to related parties

1,701,716

Other creditors

 

44,282

 

1,745,998