Registered number
05618981
Ridge Electrical Limited
Report and Accounts
31 December 2023
Ridge Electrical Limited
Report to the directors on the preparation of the unaudited statutory accounts of Ridge Electrical Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ridge Electrical Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
29 March 2024
Ridge Electrical Limited
Registered number: 05618981
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,129 3,360
Current assets
Debtors 4 - 625
Cash at bank and in hand 3,395 5,591
3,395 6,216
Creditors: amounts falling due within one year 5 (13,473) (9,503)
Net current liabilities (10,078) (3,287)
Net assets 51 73
Capital and reserves
Called up share capital 2 2
Profit and loss account 49 71
Shareholders' funds 51 73
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Frazer
Director
Approved by the board on 29 March 2024
Ridge Electrical Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 1,505 11,585 13,090
Additions - 10,495 10,495
At 31 December 2023 1,505 22,080 23,585
Depreciation
At 1 January 2023 1,505 8,225 9,730
Charge for the year - 3,726 3,726
At 31 December 2023 1,505 11,951 13,456
Net book value
At 31 December 2023 - 10,129 10,129
At 31 December 2022 - 3,360 3,360
4 Debtors 2023 2022
£ £
Other debtors - 625
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,971 13,927
Corporation tax 1,198 5,264
Other taxes and social security costs (2,195) (588)
Other creditors 4,499 (9,100)
13,473 9,503
6 Other information
Ridge Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
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