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COMPANY REGISTRATION NUMBER: 13089665
Ridgworld Limited
Filleted Unaudited Financial Statements
31 December 2023
Ridgworld Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Ridgworld Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
41,522
1,516
Current assets
Debtors
6
13,486
1,644
Cash at bank and in hand
46,686
78,375
--------
--------
60,172
80,019
Creditors: amounts falling due within one year
7
( 11,469)
( 15,713)
--------
--------
Net current assets
48,703
64,306
--------
--------
Total assets less current liabilities
90,225
65,822
Creditors: amounts falling due after more than one year
8
( 32,408)
Provisions
Taxation including deferred tax
( 10,381)
( 288)
--------
--------
Net assets
47,436
65,534
--------
--------
Ridgworld Limited
Balance Sheet (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
47,336
65,434
--------
--------
Shareholders funds
47,436
65,534
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 June 2024 , and are signed on behalf of the board by:
Mr G P Ridgway
Director
Company registration number: 13089665
Ridgworld Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2023
2,463
2,463
Additions
46,248
1,194
47,442
--------
-------
--------
At 31 December 2023
46,248
3,657
49,905
--------
-------
--------
Depreciation
At 1 January 2023
947
947
Charge for the year
6,745
691
7,436
--------
-------
--------
At 31 December 2023
6,745
1,638
8,383
--------
-------
--------
Carrying amount
At 31 December 2023
39,503
2,019
41,522
--------
-------
--------
At 31 December 2022
1,516
1,516
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
4,227
1,500
Other debtors
9,259
144
--------
-------
13,486
1,644
--------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
9,768
Social security and other taxes
536
915
Other creditors
10,933
5,030
--------
--------
11,469
15,713
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
32,408
--------
----
9. Directors' advances, credits and guarantees
During the year, the directors had interest-free, repayable on demand loans with the company. At the start of the year the directors were owed £984 and at the end of the year they were owed £1,296.