IRIS Accounts Productionv23.3.1.4510472770director31.5.231.6.2231.5.2331.5.23truetruetruefalsetruetruefalsefalsefalsefalsefalsetruetruetruefalseOrdinary1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure104727702022-05-31104727702023-05-31104727702022-06-012023-05-31104727702021-05-31104727702021-06-012022-05-31104727702022-05-3110472770ns16:EnglandWales2022-06-012023-05-3110472770ns15:PoundSterling2022-06-012023-05-3110472770ns11:Director12022-06-012023-05-3110472770ns11:Consolidated2023-05-3110472770ns11:ConsolidatedGroupCompanyAccounts2022-06-012023-05-3110472770ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3110472770ns11:FRS102ns11:Consolidated2022-06-012023-05-3110472770ns11:Auditedns11:Consolidated2022-06-012023-05-3110472770ns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-06-012023-05-3110472770ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-06-012023-05-3110472770ns11:Consolidatedns11:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-06-012023-05-3110472770ns11:LargeMedium-sizedCompaniesRegimeForAccountsns11:Consolidated2022-06-012023-05-3110472770ns11:FullAccounts2022-06-012023-05-3110472770ns6:Subsidiary12022-06-012023-05-3110472770ns6:Subsidiary22022-06-012023-05-3110472770ns6:Subsidiary32022-06-012023-05-3110472770ns11:OrdinaryShareClass12022-06-012023-05-3110472770ns11:Consolidated2022-06-012023-05-3110472770ns11:RegisteredOffice2022-06-012023-05-3110472770ns11:Consolidated2021-06-012022-05-3110472770ns6:CurrentFinancialInstruments2023-05-3110472770ns6:CurrentFinancialInstruments2022-05-3110472770ns6:Non-currentFinancialInstruments2023-05-3110472770ns6:Non-currentFinancialInstruments2022-05-3110472770ns6:ShareCapital2023-05-3110472770ns6:ShareCapital2022-05-3110472770ns6:RevaluationReserve2023-05-3110472770ns6:RevaluationReserve2022-05-3110472770ns6:RetainedEarningsAccumulatedLosses2023-05-3110472770ns6:RetainedEarningsAccumulatedLosses2022-05-3110472770ns6:ShareCapital2021-05-3110472770ns6:RetainedEarningsAccumulatedLosses2021-05-3110472770ns6:RevaluationReserve2021-05-3110472770ns6:RetainedEarningsAccumulatedLosses2021-06-012022-05-3110472770ns6:RevaluationReserve2021-06-012022-05-3110472770ns6:RetainedEarningsAccumulatedLosses2022-06-012023-05-3110472770ns6:RevaluationReserve2022-06-012023-05-3110472770ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-06-012023-05-3110472770ns6:LeaseholdImprovements2022-06-012023-05-3110472770ns6:PlantMachinery2022-06-012023-05-3110472770ns6:FurnitureFittings2022-06-012023-05-3110472770ns6:MotorVehicles2022-06-012023-05-3110472770ns6:ComputerEquipment2022-06-012023-05-3110472770ns6:LandBuildings2022-05-3110472770ns6:PlantMachinery2022-05-3110472770ns6:FurnitureFittings2022-05-3110472770ns6:LandBuildings2022-06-012023-05-3110472770ns6:LandBuildings2023-05-3110472770ns6:PlantMachinery2023-05-3110472770ns6:FurnitureFittings2023-05-3110472770ns6:LandBuildings2022-05-3110472770ns6:PlantMachinery2022-05-3110472770ns6:FurnitureFittings2022-05-3110472770ns6:CostValuation2022-05-31104727701ns6:Subsidiary12022-06-012023-05-3110472770ns6:Subsidiary232022-06-012023-05-31104727705ns6:Subsidiary32022-06-012023-05-3110472770ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-3110472770ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-3110472770ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-05-3110472770ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-05-3110472770ns6:Secured2023-05-3110472770ns6:Secured2022-05-3110472770ns6:DeferredTaxation2022-05-3110472770ns6:DeferredTaxation2023-05-3110472770ns11:OrdinaryShareClass12023-05-3110472770ns6:RetainedEarningsAccumulatedLosses2022-05-3110472770ns6:RevaluationReserve2022-05-31

REGISTERED NUMBER: 10472770 (England and Wales)




















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023


FOR



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED


RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)








CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023





Page




Company Information  

1




Group Strategic Report  

2




Report of the Director  

3




Report of the Independent Auditors  

5




Consolidated Income Statement  

8




Consolidated Other Comprehensive Income  

9




Consolidated Balance Sheet  

10




Company Balance Sheet  

11




Consolidated Statement of Changes in Equity  

12




Company Statement of Changes in Equity  

13




Consolidated Cash Flow Statement  

14




Notes to the Consolidated Cash Flow Statement

15




Notes to the Consolidated Financial Statements

17





RIDGEWAY BUILDING ENVELOPE GROUP LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MAY 2023









DIRECTOR:

J L Arrowsmith







REGISTERED OFFICE:

Unit 4


The Perry Centre


Davy Way


Quedgeley


Gloucestershire


GL2 2AD







REGISTERED NUMBER:

10472770 (England and Wales)







AUDITORS:

ESW Limited


Chartered Accountants


& Registered Auditors


162-164 High Street


Rayleigh


Essex


SS6 7BS


RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31ST MAY 2023


The director presents his strategic report of the company and the group for the year ended 31st May 2023.


REVIEW OF BUSINESS

The Directors are pleased with the progress that has been made during the financial year ending 31st May 2023, which is in line with management's expectations as we continue with our focus on strategic growth to a level and mix that will enable us to optimise trading performance within our set-up.


Considerable new investment has been made, and continues to be made, in all areas of the business. Our strategy is focused on developing new growth opportunities within our existing markets, as well as developing new opportunities that create synergies with our existing services, which will increase our competitiveness, providing cost-benefit and increased profit opportunity for both the group and our clients.


PRINCIPAL RISKS AND UNCERTAINTIES

World affairs have a very direct impact upon trade. The cost of energy, the availability of supplies and general market confidence are all factors of consideration when planning forward. As a management team we remain politically and market aware, whilst focusing on being the very best that we can be, regardless of the many challenges that external factors often impose upon trading conditions.


FUTURE PROSPECTS

The group operates within a highly competitive marketplace in which there is no room for complacency and, equally, there is no shortage of opportunity.


As a group we are focused on continuing to provide an outstanding service, competitively.


In order to achieve this objective, management focus has been, and continues to be, concentrated on the many strengths and opportunities of the group, enabled by the outstanding team of people that the group employs, the business location and site (and the opportunities that such set-up has enabled) and the investment that is being made in plant and machinery that will ensure that, as a group we are one of the most efficient, competitive, and capable providers within our chosen market areas.


We fully expect to achieve all of our forward strategic objectives, specifically with regards to maintaining sales turnover and improving profitability.


ON BEHALF OF THE BOARD:






J L Arrowsmith - Director



31st January 2024


RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31ST MAY 2023


The director presents his report with the financial statements of the company and the group for the year ended 31st May 2023.


PRINCIPAL ACTIVITY

The group's primary activity remains focused on providing innovative and prestigious commercial glazing solutions to suit an extensive range of applications.

DIVIDENDS

The total interim dividends of £2,950 per ordinary share were paid during the year ended 31st May 2023. The directors recommend that no final dividend be paid.


The total distribution of dividends for the year ended 31st May 2023 will be £295,000.


DIRECTOR

J L Arrowsmith held office during the whole of the period from 1st June 2022 to the date of this report.


FINANCIAL INSTRUMENTS

Financial risk management

The group's operations expose it to a variety of financial risks that include the effect of changes in liquidity risk and interest rate risk. The group has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the group by monitoring levels of debt finance and the related finance costs.


Given the size of the group, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the group's finance department.


Liquidity risk

The group actively maintains a mixture of long-term and short-term debt finance that is designed to ensure the group has sufficient available funds for operations and planned extensions.


Interest rate cash flow risk

The group only has interest bearing liabilities.


Credit risk

The group has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is subject to a limit, which is reassessed regularly by the board.


Price risk

The group is exposed to commodity price risk as a result of its operations. However, given the size of the group's operations, the costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.


POLITICAL DONATIONS AND EXPENDITURE

Donations paid during the year amounted to £6,433, none of which related to political organisations.



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31ST MAY 2023


STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.


Company law requires the director to prepare financial statements for each financial year.  Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.  In preparing these financial statements, the director is required to:


-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.


AUDITORS

The auditors,  ESW Limited, will be proposed for appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






J L Arrowsmith - Director



31st January 2024


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RIDGEWAY BUILDING ENVELOPE GROUP LIMITED


Qualified opinion

We have audited the financial statements of Ridgeway Building Envelope Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st May 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effect of the matter described in the Basis for Qualified Opinion paragraph, the financial statements:
- give a true and fair view of the state of the group's and of the parent company affairs as at 31 May 2023 and of the group's profit for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The evidence available to us was limited because we were not appointed as auditor of the group and company until 2 May 2023 and in consequence it was not possible for us to perform the auditing procedures necessary to obtain sufficient appropriate audit evidence for the closing balances included in the preceding years’ financial statements. Any adjustment to these figures would have a consequential effect on the profit for the year ended 31 May 2023.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RIDGEWAY BUILDING ENVELOPE GROUP LIMITED



Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.


We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-

the parent company financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of director's remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.


Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


The group is subject to numerous laws and regulations that could reasonably be expected to have a material effect on the financial statements. From our general commercial experience and discussion with management, we identified the following laws and regulations; environmental regulations, employment laws and regulations, health and safety, employment taxes, financial reporting and distributable profits.


Our audit procedures to address potential fraud and non-compliance with laws and regulations included:


- Enquiry of management regarding compliance with relevant laws and regulations, and any litigation or claims

- Review of legal correspondence and documentation

- Performance of analytical review to identify unexpected account movements and investigation of variances

- Assessment of potential management override by review of journals and unusual accounting entries

- Inspection of third-party supporting documentation

- Identification and review of transactions with related parties

- Review of year end cut-off and after date transactions

- Reconciliation of intercompany balances


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

RIDGEWAY BUILDING ENVELOPE GROUP LIMITED



Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.





Stephen Cracknell FCA (Senior Statutory Auditor)

for and on behalf of ESW Limited

Chartered Accountants

& Registered Auditors

162-164 High Street

Rayleigh

Essex

SS6 7BS


31st January 2024


RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



CONSOLIDATED

INCOME STATEMENT

FOR THE YEAR ENDED 31ST MAY 2023



2023


2022


Notes

£   

£   



TURNOVER

3

19,360,679


17,229,103




Cost of sales

(16,923,802

)

(15,977,945

)


GROSS PROFIT

2,436,877


1,251,158




Administrative expenses

(1,745,329

)

(1,520,773

)


OPERATING PROFIT/(LOSS)

5

691,548


(269,615

)



Interest receivable and similar income

3,079


2,053



694,627


(267,562

)



Interest payable and similar expenses

6

(124,907

)

(52,695

)


PROFIT/(LOSS) BEFORE TAXATION

569,720


(320,257

)



Tax on profit/(loss)

7

(79,099

)

291,902



PROFIT/(LOSS) FOR THE FINANCIAL

YEAR

490,621


(28,355

)


Profit/(loss) attributable to:

Owners of the parent

490,621


(28,355

)



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



CONSOLIDATED

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31ST MAY 2023



2023


2022


Notes

£   

£   



PROFIT/(LOSS) FOR THE YEAR

490,621


(28,355

)




OTHER COMPREHENSIVE INCOME  


Revaluation movement

271,978


52,212



Income tax relating to other comprehensive

income

(80,787

)

-



OTHER COMPREHENSIVE INCOME

FOR THE YEAR, NET OF INCOME TAX

191,191


52,212



TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

681,812


23,857




Total comprehensive income attributable to:

Owners of the parent

681,812


23,857




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



CONSOLIDATED BALANCE SHEET

31ST MAY 2023



2023


2022


Notes

£   

£   


FIXED ASSETS

Tangible assets

10

2,739,220


1,934,491



Investments

11

-


-



2,739,220


1,934,491




CURRENT ASSETS

Stocks

12

1,367,653


1,216,152



Debtors

13

3,618,624


4,213,844



Cash at bank

1


229,560



4,986,278


5,659,556



CREDITORS

Amounts falling due within one year

14

(3,490,509

)

(4,267,509

)


NET CURRENT ASSETS

1,495,769


1,392,047



TOTAL ASSETS LESS CURRENT

LIABILITIES

4,234,989


3,326,538




CREDITORS

Amounts falling due after more than one

year

15

(1,657,010

)

(1,484,033

)



PROVISIONS FOR LIABILITIES

19

(368,543

)

(19,881

)


NET ASSETS

2,209,436


1,822,624




CAPITAL AND RESERVES

Called up share capital

20

100


100



Revaluation reserve

21

242,359


52,212



Retained earnings

21

1,966,977


1,770,312



SHAREHOLDERS' FUNDS

2,209,436


1,822,624




The financial statements were approved by the director and authorised for issue on 31st January 2024 and were signed by:






J L Arrowsmith - Director



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



COMPANY BALANCE SHEET

31ST MAY 2023



2023


2022


Notes

£   

£   


FIXED ASSETS

Tangible assets

10

1,328,006


1,100,000



Investments

11

300


300



1,328,306


1,100,300




CURRENT ASSETS

Debtors

13

3,104


25,953



Cash at bank and in hand

198


101



3,302


26,054



CREDITORS

Amounts falling due within one year

14

(67,942

)

(85,349

)


NET CURRENT LIABILITIES

(64,640

)

(59,295

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

1,263,666


1,041,005




CREDITORS

Amounts falling due after more than one

year

15

(617,717

)

(645,504

)



PROVISIONS FOR LIABILITIES

19

(100,457

)

(15,853

)


NET ASSETS

545,492


379,648




CAPITAL AND RESERVES

Called up share capital

20

100


100



Revaluation reserve

242,359


52,212



Retained earnings

303,033


327,336



SHAREHOLDERS' FUNDS

545,492


379,648




Company's profit for the financial year

269,653


144,592




The financial statements were approved by the director and authorised for issue on 31st January 2024 and were signed by:






J L Arrowsmith - Director



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST MAY 2023



Called up



share


Retained


Revaluation


Total


capital


earnings


reserve


equity

£   

£   

£   

£   


Balance at 1st June 2021

100


1,860,924


147,743


2,008,767




Changes in equity

Dividends

-


(210,000

)

-


(210,000

)


Total comprehensive income

-


119,388


(95,531

)

23,857



Balance at 31st May 2022

100


1,770,312


52,212


1,822,624




Changes in equity

Dividends

-


(295,000

)

-


(295,000

)


Total comprehensive income

-


491,665


190,147


681,812



Balance at 31st May 2023

100


1,966,977


242,359


2,209,436




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31ST MAY 2023



Called up



share


Retained


Revaluation


Total


capital


earnings


reserve


equity

£   

£   

£   

£   


Balance at 1st June 2021

100


245,001


147,743


392,844




Changes in equity

Dividends

-


(210,000

)

-


(210,000

)


Total comprehensive income

-


292,335


(95,531

)

196,804



Balance at 31st May 2022

100


327,336


52,212


379,648




Changes in equity

Dividends

-


(295,000

)

-


(295,000

)


Total comprehensive income

-


270,697


190,147


460,844



Balance at 31st May 2023

100


303,033


242,359


545,492




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MAY 2023



2023


2022


Notes

£   

£   


Cash flows from operating activities

Cash generated from operations

1

501,987


13,876



Interest paid

(89,041

)

(33,964

)


Interest element of hire purchase payments

paid

(35,866

)

(18,731

)


Tax refund

150,394


242,907



Net cash from operating activities

527,474


204,088




Cash flows from investing activities

Purchase of tangible fixed assets

(68,745

)

(1,077,355

)


Sale of tangible fixed assets

128,160


991,170



Interest received

3,079


2,053



Net cash from investing activities

62,494


(84,132

)



Cash flows from financing activities

New loans in year

-


700,000



Loan repayments in year

(227,961

)

(414,401

)


Capital repayments in year

(351,139

)

(164,194

)


Amount introduced by directors

-


3,916



Amount withdrawn by directors

(36,598

)

-



Equity dividends paid

(295,000

)

(210,000

)


Net cash from financing activities

(910,698

)

(84,679

)



(Decrease)/increase in cash and cash equivalents

(320,730

)

35,277



Cash and cash equivalents at beginning of

year

2

229,560


194,283




Cash and cash equivalents at end of year

2

(91,170

)

229,560




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MAY 2023


1.

RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM

OPERATIONS


2023


2022

£   

£   



Profit/(loss) before taxation

569,720


(320,257

)



Depreciation charges

252,593


134,581




Profit on disposal of fixed assets

(20,455

)

(38,493

)



Finance costs

124,907


52,695




Finance income

(3,079

)

(2,053

)


923,686


(173,527

)



Increase in stocks

(151,501

)

(412,103

)



Decrease/(increase) in trade and other debtors

595,220


(1,070,692

)



(Decrease)/increase in trade and other creditors

(865,418

)

1,670,198




Cash generated from operations

501,987


13,876




2.

CASH AND CASH EQUIVALENTS



The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:



Year ended 31st May 2023


31.5.23


1.6.22

£   

£   



Cash and cash equivalents

1


229,560




Bank overdrafts

(91,171

)

-



(91,170

)

229,560




Year ended 31st May 2022


31.5.22


1.6.21

£   

£   



Cash and cash equivalents

229,560


332,009




Bank overdrafts

-


(137,726

)


229,560


194,283





RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MAY 2023


3.

ANALYSIS OF CHANGES IN NET DEBT



Other



non-cash



At 1.6.22

Cash flow

changes

At 31.5.23

£   

£   

£   

£   



Net cash



Cash at bank

229,560


(229,559

)

1




Bank overdrafts

-


(91,171

)

(91,171

)


229,560


(320,730

)

(91,170

)



Debt


Finance leases

(562,553

)

351,139


-


(1,035,718

)



Debts falling due


within 1 year

(270,935

)

35,911


-


(235,024

)



Debts falling due


after 1 year

(1,090,125

)

192,050


-


(898,075

)


(1,923,613

)

579,100


-


(2,168,817

)



Total

(1,694,053

)

258,370


-


(2,259,987

)



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023


1.

STATUTORY INFORMATION



Ridgeway Building Envelope Group 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.    



Related party exemption


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.



Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.



Turnover

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

Revenue from manufacturing and installation contracts is recognised by reference to the stage of completion of the contract activity at the end of the reporting period. Revenue is based upon surveys of measured works and materials at the stage of completion of each contract.


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.  


Freehold property

-

2% on cost


Improvements to property

-  

20% on reducing balance and 2% on cost


Plant and machinery

-  

25% on reducing balance and 10% on cost


Fixtures and fittings

-  

25% on reducing balance and 10% on cost


Motor vehicles

-

25% on reducing balance


Computer equipment

-  

33% on reducing balance and 20% on cost



Stocks


Consumable stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.



Work in progress in relation to manufacturing and installation contracts is valued at the cost of materials and other direct costs incurred at the end of the reporting period.



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


2.

ACCOUNTING POLICIES - continued


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 the profit and loss account on a straight line basis over the period of the lease.


Pension costs and other post-retirement benefits


The group operates a defined contribution pension scheme.  Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.


3.

TURNOVER



The turnover and profit before taxation are attributable to the one principal activity of the group, wholly within the United Kingdom.


4.

EMPLOYEES AND DIRECTORS


2023


2022

£   

£   



Wages and salaries

2,224,232


2,197,539




Social security costs

249,943


241,995




Other pension costs

51,029


49,555



2,525,204


2,489,089





The average number of employees during the year was as follows:


2023


2022



Directors

2


2




Direct staff

54


57




Administration

5


5



61


64





2023


2022

£   

£   



Director's remuneration

17,568


17,737




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


5.

OPERATING PROFIT/(LOSS)



The operating profit (2022 - operating loss) is stated after charging/(crediting):



2023


2022

£   

£   



Depreciation - owned assets

88,310


51,360




Depreciation - assets on hire purchase contracts

164,283


83,221




Profit on disposal of fixed assets

(20,455

)

(38,493

)



Auditors' remuneration

20,000


-




Auditors' remuneration for non audit work  

8,400


8,480




6.

INTEREST PAYABLE AND SIMILAR EXPENSES



2023


2022

£   

£   



Bank interest

21,727


14,785




Bank loan interest

24,095


5,722




Other interest

60


840




Taxation, surcharges and interest

829


191




Mortgage

42,330


12,426




Hire purchase

35,866


18,731



124,907


52,695




7.

TAXATION



Analysis of the tax charge/(credit)


The tax charge/(credit) on the profit for the year was as follows:


2023


2022

£   

£   



Current tax:


UK corporation tax

(188,776

)

(242,287

)




Deferred tax

267,875


(49,615

)



Tax on profit/(loss)

79,099


(291,902

)



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


7.

TAXATION - continued



Reconciliation of total tax charge/(credit) included in profit and loss


The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:



2023


2022

£   

£   



Profit/(loss) before tax

569,720


(320,257

)



Profit/(loss) multiplied by the standard rate of corporation tax in the UK of

19 % (2022 - 19 %)  

108,247


(60,849

)




Effects of:


Expenses not deductible for tax purposes

11,276


7,293




Capital allowances in excess of depreciation

(105,950

)

(105,427

)



Utilisation of tax losses

(4,264

)

-




(Profit)/Loss on disposal of fixed assets  

(3,886

)

(7,314

)



Research and development tax credits  

(194,199

)

(134,271

)



Deferred taxation  

267,875


(49,615

)



Tax losses carried forward  

-


34,536




Tax on capital gains  

-


23,745




Total tax charge/(credit)

79,099


(291,902

)




Tax effects relating to effects of other comprehensive income




2023



Gross


Tax


Net


£   

£   

£   



Revaluation movement

271,978


(80,787

)

191,191





2022



Gross


Tax


Net


£   

£   

£   



Revaluation

52,212


-


52,212




8.

INDIVIDUAL INCOME STATEMENT



As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.



9.

DIVIDENDS


2023


2022

£   

£   



Interim

295,000


210,000




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


10.

TANGIBLE FIXED ASSETS



Group


Improvements



Freehold


to


Plant and


property


property


machinery

£   

£   

£   



COST OR VALUATION


At 1st June 2022

838,718


171,028


607,261




Additions

-


20,361


534,277




Disposals

-


-


(10,750

)



Revaluations

271,978


-


-




At 31st May 2023

1,110,696


191,389


1,130,788




DEPRECIATION


At 1st June 2022

3,922


11,537


354,961




Charge for year

16,774


3,828


74,215




Eliminated on disposal

-


-


(10,750

)



At 31st May 2023

20,696


15,365


418,426




NET BOOK VALUE


At 31st May 2023

1,090,000


176,024


712,362




At 31st May 2022

834,796


159,491


252,300





Fixtures



and


Motor


Computer



fittings


vehicles


equipment


Totals

£   

£   

£   

£   



COST OR VALUATION


At 1st June 2022

212,972


715,668


105,571


2,651,218




Additions

-


331,086


7,325


893,049




Disposals

-


(243,869

)

-


(254,619

)



Revaluations

-


-


-


271,978




At 31st May 2023

212,972


802,885


112,896


3,561,626




DEPRECIATION


At 1st June 2022

45,320


220,600


80,387


716,727




Charge for year

17,745


129,541


10,490


252,593




Eliminated on disposal

-


(136,164

)

-


(146,914

)



At 31st May 2023

63,065


213,977


90,877


822,406




NET BOOK VALUE


At 31st May 2023

149,907


588,908


22,019


2,739,220




At 31st May 2022

167,652


495,068


25,184


1,934,491




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


10.

TANGIBLE FIXED ASSETS - continued



Group



Cost or valuation at 31st May 2023 is represented by:



Improvements



Freehold


to


Plant and


property


property


machinery

£   

£   

£   



Valuation in 2019

161,616


-


-




Valuation in 2020

23,232


-


-




Valuation in 2023

271,978


-


-




Cost

653,870


191,389


1,130,788



1,110,696


191,389


1,130,788





Fixtures



and


Motor


Computer



fittings


vehicles


equipment


Totals

£   

£   

£   

£   



Valuation in 2019

-


-


-


161,616




Valuation in 2020

-


-


-


23,232




Valuation in 2023

-


-


-


271,978




Cost

212,972


802,885


112,896


3,104,800



212,972


802,885


112,896


3,561,626





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


2023

2022


£   

£   



Cost

786,506


786,506




Aggregate depreciation

19,652


3,922





Freehold property was valued on a fair value basis on 28th November 2023 by Ash Chartered Surveyors .


RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


10.

TANGIBLE FIXED ASSETS - continued



Group



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


Plant and


Motor



machinery


vehicles


Totals

£   

£   

£   



COST OR VALUATION


At 1st June 2022

130,707


658,022


788,729




Additions

493,218


331,086


824,304




Disposals

-


(243,869

)

(243,869

)



At 31st May 2023

623,925


745,239


1,369,164




DEPRECIATION


At 1st June 2022

31,814


170,413


202,227




Charge for year

36,607


127,676


164,283




Eliminated on disposal

-


(136,164

)

(136,164

)



At 31st May 2023

68,421


161,925


230,346




NET BOOK VALUE


At 31st May 2023

555,504


583,314


1,138,818




At 31st May 2022

98,893


487,609


586,502





Company


Fixtures



Freehold


Plant and


and



property


machinery


fittings


Totals

£   

£   

£   

£   



COST OR VALUATION


At 1st June 2022

838,718


104,267


167,718


1,110,703




Revaluations

271,978


-


-


271,978




At 31st May 2023

1,110,696


104,267


167,718


1,382,681




DEPRECIATION


At 1st June 2022

3,922


2,600


4,181


10,703




Charge for year

16,774


10,426


16,772


43,972




At 31st May 2023

20,696


13,026


20,953


54,675




NET BOOK VALUE


At 31st May 2023

1,090,000


91,241


146,765


1,328,006




At 31st May 2022

834,796


101,667


163,537


1,100,000




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


10.

TANGIBLE FIXED ASSETS - continued



Company



Cost or valuation at 31st May 2023 is represented by:



Fixtures



Freehold


Plant and


and



property


machinery


fittings


Totals

£   

£   

£   

£   



Valuation in 2022

52,212


-


-


52,212




Valuation in 2023

271,978


-


-


271,978




Cost

786,506


104,267


167,718


1,058,491



1,110,696


104,267


167,718


1,382,681





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


2023

2022


£   

£   



Cost

786,506


786,506




Aggregate depreciation

19,652


3,922





Freehold property was valued on a fair value basis on 28th November 2023 by Ash Chartered Surveyors .


11.

FIXED ASSET INVESTMENTS



Company


Shares in


group


undertakings

£   



COST


At 1st June 2022


and 31st May 2023

300




NET BOOK VALUE


At 31st May 2023

300




At 31st May 2022

300





The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:



Subsidiaries



Ridgeway Facades Limited


Registered office: Unit 4 The Perry Centre, Davy Way, Quedgeley, Gloucestershire, England, GL2 2AD


Nature of business: Aluminium fabrication and installation


%


Class of shares:

holding



Ordinary £1

100.00



RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


11.

FIXED ASSET INVESTMENTS - continued



Ridgeway Facade Products Limited


Registered office: Unit 4 The Perry Centre, Davy Way, Quedgeley, Gloucestershire, England, GL2 2AD


Nature of business: Dormant


%


Class of shares:

holding



Ordinary £1

100.00




Ridgeway Facade Installations Limited


Registered office: Unit 4 The Perry Centre, Davy Way, Quedgeley, Gloucestershire, England, GL2 2AD


Nature of business: Dormant


%


Class of shares:

holding



Ordinary £1

100.00




12.

STOCKS



Group


2023

2022


£   

£   



Stocks

470,154


467,961




Work-in-progress

897,499


748,191



1,367,653


1,216,152




13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Trade debtors

1,091,569


1,011,847


-


-




Amounts owed by group undertakings

-


-


-


22,536




Other debtors

2,372,162


2,868,346


-


-




VAT

94,320


285,360


-


-




Prepayments

60,573


48,291


3,104


3,417



3,618,624


4,213,844


3,104


25,953




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank loans and overdrafts (see note 16)

187,838


96,667


46,667


46,667




Other loans (see note 16)

138,357


174,268


-


-




Hire purchase contracts  (see note 17)

276,783


168,645


-


-




Trade creditors

2,752,966


3,615,282


-


-




Amounts owed to group undertakings

-


-


15,975


-




Tax

-


38,382


-


38,382




Social security and other taxes

92,549


107,247


-


-




Other creditors

21,100


29,504


300


300




Directors' current accounts

916


37,514


-


-




Accruals and deferred income

20,000


-


5,000


-



3,490,509


4,267,509


67,942


85,349




15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank loans (see note 16)

726,050


803,837


617,717


645,504




Other loans (see note 16)

172,025


286,288


-


-




Hire purchase contracts  (see note 17)

758,935


393,908


-


-



1,657,010


1,484,033


617,717


645,504




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


16.

LOANS



An analysis of the maturity of loans is given below:



Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Amounts falling due within one year or on

demand:



Bank overdrafts

91,171


-


-


-




Bank loans

96,667


46,667


46,667


46,667




Bank loans

-


50,000


-


-




Other loans

138,357


174,268


-


-



326,195


270,935


46,667


46,667




Amounts falling due between two and five

years:



Bank loans - 2-5 years

186,667


186,667


186,667


186,667




Other loans - 2-5 years

172,025


286,288


-


-



358,692


472,955


186,667


186,667




Amounts falling due in more than five years:



Repayable by instalments


Bank loans more than 5 years


by instalments

539,383


617,170


431,050


458,837



539,383


617,170


431,050


458,837




17.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Group


Hire purchase contracts


2023

2022


£   

£   



Net obligations repayable:


Within one year

276,783


168,645




Between one and five years

758,935


393,908



1,035,718


562,553





Group


Non-cancellable operating

leases


2023

2022


£   

£   



Within one year

91,250


85,000




Between one and five years

475,000


471,250




In more than five years

419,583


514,583



985,833


1,070,833




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


18.

SECURED DEBTS



The following secured debts are included within creditors:



Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank loans

822,717


-


664,384


692,171




Hire purchase contracts

1,035,718


-


-


-



1,858,435


-


664,384


692,171





The bank overdraft facility and loans are secured by a debenture over the whole of the group's assets.



Hire purchase agreements are secured over the asset to which they relate.


19.

PROVISIONS FOR LIABILITIES



Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Deferred tax

368,543


19,881


100,457


15,853





Group


Deferred



tax


£   



Balance at 1st June 2022

19,881




Accelerated capital allowances

267,875




Revaluation of property

80,787




Balance at 31st May 2023

368,543





Company


Deferred



tax


£   



Balance at 1st June 2022

15,853




Accelerated capital allowances

3,817




Revaluation of property

80,787




Balance at 31st May 2023

100,457




20.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2022



value:

£   

£   



100

Ordinary

£1.00

100


100




RIDGEWAY BUILDING ENVELOPE GROUP LIMITED (REGISTERED NUMBER: 10472770)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MAY 2023


21.

RESERVES



Group


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1st June 2022

1,770,312


52,212


1,822,524




Profit for the year

490,621


490,621




Dividends

(295,000

)

(295,000

)



Revaluation movement

-


271,978


271,978




Depreciation movement

1,044


(1,044

)

-




Deferred tax charge

-


(80,787

)

(80,787

)



At 31st May 2023

1,966,977


242,359


2,209,336





Company


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1st June 2022

327,336


52,212


379,548




Profit for the year

269,653


269,653




Dividends

(295,000

)

(295,000

)



Revaluation movement

-


271,978


271,978




Depreciation movement

1,044


(1,044

)

-




Deferred tax charge

-


(80,787

)

(80,787

)



At 31st May 2023

303,033


242,359


545,392





22.

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES



The following advances and credits to a director subsisted during the years ended 31st May 2023 and 31st May 2022:


2023

2022


£   

£   



J L Arrowsmith


Balance outstanding at start of year

(37,514

)

(33,598

)



Amounts advanced

36,598


-




Amounts repaid

-


(3,916

)



Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of year

(916

)

(37,514

)



23.

ULTIMATE CONTROLLING PARTY



The ultimate controlling party is J L Arrowsmith.