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REGISTERED NUMBER: 07469764 (England and Wales)














Ravendale North West Limited

Financial Statements

for the Year Ended 31 December 2023






Ravendale North West Limited (Registered number: 07469764)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3


Ravendale North West Limited

Company Information
for the Year Ended 31 December 2023







Directors: A Cleeve
R A Gray
Mrs B Gray
Mrs R I Young





Registered office: Unit 5
Leadgate Industrial Estate
Lope Hill Road
Consett
DH8 7RN





Registered number: 07469764 (England and Wales)





Auditors: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Ravendale North West Limited (Registered number: 07469764)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 135,830 242,310

Current assets
Stocks 338,066 175,599
Debtors 6 324,130 423,648
Cash at bank 1,177,445 997,818
1,839,641 1,597,065
Creditors
Amounts falling due within one year 7 538,660 465,099
Net current assets 1,300,981 1,131,966
Total assets less current liabilities 1,436,811 1,374,276

Provisions for liabilities 9 2,354 976
Net assets 1,434,457 1,373,300

Capital and reserves
Called up share capital 10 700 700
Retained earnings 1,433,757 1,372,600
Shareholders' funds 1,434,457 1,373,300

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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2024 and were signed on its behalf by:





R A Gray - Director


Ravendale North West Limited (Registered number: 07469764)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statutory information

Ravendale North West 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.
Freehold property - 5% on a straight line basis
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Ravendale North West Limited (Registered number: 07469764)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

4. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings Equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023 84,241 450,375 23,937 8,499 567,052
Additions - 8,062 - - 8,062
Disposals (84,241 ) - - - (84,241 )
At 31 December 2023 - 458,437 23,937 8,499 490,873
Depreciation
At 1 January 2023 2,288 298,958 17,917 5,579 324,742
Charge for year - 30,801 1,204 584 32,589
Eliminated on disposal (2,288 ) - - - (2,288 )
At 31 December 2023 - 329,759 19,121 6,163 355,043
Net book value
At 31 December 2023 - 128,678 4,816 2,336 135,830
At 31 December 2022 81,953 151,417 6,020 2,920 242,310

Ravendale North West Limited (Registered number: 07469764)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 209,834 394,769
Amounts owed by group undertakings 76,907 -
Other debtors 1,302 2,229
VAT 30,286 22,534
Prepayments and accrued income 5,801 4,116
324,130 423,648

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 96,000 105,057
Amounts owed to group undertakings 227,270 238,439
Tax 35,976 16,696
Social security and other taxes 2,070 1,863
Other creditors 47,587 47,587
Directors' current accounts 111,897 34,763
Accruals and deferred income 17,860 20,694
538,660 465,099

8. Secured debts

Lloyds Bank Plc hold an omnibus guarantee and set off agreement dated 4 January 2018 on Dipwood Holdings Limited and its subsidiary undertakings.

Lloyds Bank Plc also holds a Debenture dated December 2017 which contains a fixed charge and floating charges over all property and undertakings of the company.

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 2,354 976

Deferred
tax
£   
Balance at 1 January 2023 976
Provided during year 1,378
Balance at 31 December 2023 2,354

Ravendale North West Limited (Registered number: 07469764)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. Called up share capital

2023 2022
No. £    No. £   
Ordinary A shares of £1 each 300 300.00 300 300.00
Ordinary B shares of £1 each 200 200.00 200 200.00
Ordinary C shares of £1 each 100 100.00 100 100.00
Ordinary D shares of £1 each 100 100.00 100 100.00
700 700.00 700 700.00

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Matt Storey FCCA ACA BFP (Senior Statutory Auditor)
for and on behalf of Moore Thompson

12. Ultimate controlling party

The ultimate parent undertaking is Dipwood Holdings Limited, whose registered office is Unit 2,
Leadgate Industrial Estate, Lope Hill Road, Consett, DH8 7RN.

The group accounts which consolidate the subsidiary are available at Companies House, Crown Way, Cardiff, CF14 3UZ.