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REGISTERED NUMBER: 07354471 (England and Wales)













Ridby Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Ridby Limited (Registered number: 07354471)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Ridby Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: CL Powell
NL Powell
JE Powell





SECRETARY: CL Powell





REGISTERED OFFICE: Ridby Court
Much Dewchurch
Hereford
Herefordshire
HR2 8DP





REGISTERED NUMBER: 07354471 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ridby Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ridby Limited for the year ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ridby Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ridby Limited and state those matters that we have agreed to state to the Board of Directors of Ridby Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ridby Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ridby Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ridby Limited. You consider that Ridby Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ridby Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


27 August 2024

Ridby Limited (Registered number: 07354471)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,146,104 4,221,334

CURRENT ASSETS
Stocks 392,002 220,934
Debtors 5 383,009 275,234
Cash at bank 155,445 326,733
930,456 822,901
CREDITORS
Amounts falling due within one year 6 889,337 646,998
NET CURRENT ASSETS 41,119 175,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,187,223

4,397,237

CREDITORS
Amounts falling due after more than one year 7 (2,084,008 ) (2,395,110 )

PROVISIONS FOR LIABILITIES 9 (292,052 ) (285,710 )
NET ASSETS 1,811,163 1,716,417

CAPITAL AND RESERVES
Allotted, issued and fully
paid share capital 3,000 3,000
Retained earnings 1,808,163 1,713,417
SHAREHOLDERS' FUNDS 1,811,163 1,716,417

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Ridby Limited (Registered number: 07354471)

Balance Sheet - continued
31 January 2024


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 27 August 2024 and were signed on its behalf by:





CL Powell - Director


Ridby Limited (Registered number: 07354471)

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


1. STATUTORY INFORMATION

Ridby 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.

Going concern
The directors have reviewed the cashflow forecasts and budgets for a period exceeding twelve months following the approval of these financial statements and consider that the company remains a going concern. Therefore the accounts are prepared on the going concern basis.

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 the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance, 6.67% on cost, 5% on cost and 5% on reducing balance

Land is included within freehold property but is not depreciated.

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

Biological assets include broiler chickens used for meat production. Broiler chickens are stated at cost as fair values are not readily ascertainable.

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 balance sheet date.


Ridby Limited (Registered number: 07354471)

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


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
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.

3. EMPLOYEES

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 February 2023 1,198,643 1,487,334 4,103,075 6,789,052
Additions - 71,901 142,134 214,035
At 31 January 2024 1,198,643 1,559,235 4,245,209 7,003,087
DEPRECIATION
At 1 February 2023 - 722,254 1,845,464 2,567,718
Charge for year - 65,376 223,889 289,265
At 31 January 2024 - 787,630 2,069,353 2,856,983
NET BOOK VALUE
At 31 January 2024 1,198,643 771,605 2,175,856 4,146,104
At 31 January 2023 1,198,643 765,080 2,257,611 4,221,334

Included in cost of land and buildings is freehold land of £ 1,198,643 (2023 - £ 1,198,643 ) which is not depreciated.

Ridby Limited (Registered number: 07354471)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 44,227 15,529
Prepayments and accrued income 328,500 248,507
VAT 10,282 11,198
383,009 275,234

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
AMC loans 296,466 277,686
Trade creditors 478,587 240,496
Corporation tax payable 69,176 83,908
Directors' current accounts 40,729 40,729
Accruals and deferred income 4,379 4,179
889,337 646,998

Directors' current accounts are interest free and unsecured with no repayment terms.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
AMC loans 1-5 years 991,837 1,003,474
AMC loans more than 5 years 1,092,171 1,391,636
2,084,008 2,395,110

Amounts falling due in more than five years:

Repayable by instalments
AMC loans more than 5 years 1,092,171 1,391,636

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
AMC loans 2,380,474 2,672,796

The borrowings from the Agricultural Mortgage Corporation are secured on the poultry unit site at Ridby Court Farm, Much Dewchurch (owned by the company) and Hill of Eaton Barns (owned by the directors).

Ridby Limited (Registered number: 07354471)

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


9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - accelerated
timing differences 292,052 285,710
292,052 285,710

Deferred
tax
£   
Balance at 1 February 2023 285,710
Provided during year 6,342
Balance at 31 January 2024 292,052