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REGISTERED NUMBER: 03312591 (England and Wales)















Ridgesome Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Ridgesome Limited (Registered number: 03312591)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Ridgesome Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mrs A J Gee
Mrs S M North
Mrs D I Smith





Secretary: Mrs D I Smith





Registered office: Stanton House
31 Westgate
Grantham
Lincolnshire
NG31 6LX





Registered number: 03312591 (England and Wales)





Accountants: Rupert King & Company Limited
Stanton House
31 Westgate
Grantham
Lincolnshire
NG31 6LX

Ridgesome Limited (Registered number: 03312591)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 1,665,000 1,500,000

Current assets
Cash at bank 371,904 351,043

Creditors
Amounts falling due within one year 5 635,215 644,732
Net current liabilities (263,311 ) (293,689 )
Total assets less current liabilities 1,401,689 1,206,311

Provisions for liabilities 108,498 77,148
Net assets 1,293,191 1,129,163

Capital and reserves
Called up share capital 6 100 100
Fair value reserve 7 462,542 328,892
Retained earnings 7 830,549 800,171
Shareholders' funds 1,293,191 1,129,163

Ridgesome Limited (Registered number: 03312591)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





Mrs S M North - Director


Ridgesome Limited (Registered number: 03312591)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Ridgesome 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

Ridgesome Limited (Registered number: 03312591)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. Investment property
Total
£   
Fair value
At 1 April 2023 1,500,000
Revaluations 165,000
At 31 March 2024 1,665,000
Net book value
At 31 March 2024 1,665,000
At 31 March 2023 1,500,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 165,000
Valuation in 2023 45,227
Valuation in 2020 (73,552 )
Valuation in 2018 434,365
Cost 1,093,960
1,665,000

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

2024 2023
£    £   
Cost 1,093,960 1,093,960

Investment property was valued on an open market basis on 21 May 2023 by Richard Watkinson & Partners and Landles .

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 8,288 6,734
Corporation tax 7,126 8,403
Other creditors 575,000 584,914
Directors' current accounts 41,402 41,402
Accrued expenses 3,399 3,279
635,215 644,732

Ridgesome Limited (Registered number: 03312591)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

7. Reserves
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 800,171 328,892 1,129,063
Profit for the year 164,028 164,028
Revaluation of inv't property (133,650 ) 133,650 -
At 31 March 2024 830,549 462,542 1,293,091

8. Ultimate controlling party

The controlling party is Mrs D I Smith.