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Company registration number: 11796001
RIDGEBOURNE MANAGEMENT LIMITED
31 December 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
RIDGEBOURNE MANAGEMENT LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
RIDGEBOURNE MANAGEMENT LIMITED
DIRECTORS AND OTHER INFORMATION
Director Mr T S Stark
Company number 11796001
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Kingsley House
12 Ridgebourne Road
Shrewsbury
Shropshire
SY3 9AB
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
RIDGEBOURNE MANAGEMENT LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RIDGEBOURNE MANAGEMENT LIMITED
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 financial statements of Ridgebourne Management Limited for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Ridgebourne Management Limited, as a body, in accordance with the terms of our engagement letter dated 14 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Ridgebourne Management Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ridgebourne Management Limited and its director as a body for our work or for this report.
It is your duty to ensure that Ridgebourne Management 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 loss of Ridgebourne Management Limited. You consider that Ridgebourne Management 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 Ridgebourne Management 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
29 April 2024
RIDGEBOURNE MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - 8,320
Tangible assets 6 3,881 2,464
_______ _______
3,881 10,784
Current assets
Debtors 7 4,691 17,479
Cash at bank and in hand 14,923 12,062
_______ _______
19,614 29,541
Creditors: amounts falling due
within one year 8 ( 43,252) ( 40,606)
_______ _______
Net current liabilities ( 23,638) ( 11,065)
_______ _______
Total assets less current liabilities ( 19,757) ( 281)
Creditors: amounts falling due
after more than one year 9 ( 5,846) ( 9,888)
Provisions for liabilities ( 737) ( 468)
_______ _______
Net liabilities ( 26,340) ( 10,637)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 26,440) ( 10,737)
_______ _______
Shareholders deficit ( 26,340) ( 10,637)
_______ _______
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.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 April 2024 , and are signed on behalf of the board by:
Mr T S Stark
Director
Company registration number: 11796001
RIDGEBOURNE MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 DECEMBER 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 100 22,658 22,758
Loss for the year ( 33,395) ( 33,395)
_______ _______ _______
Total comprehensive income for the year - ( 33,395) ( 33,395)
_______ _______ _______
At 31 December 2022 and 1 January 2023 100 ( 10,737) ( 10,637)
Loss for the year ( 15,703) ( 15,703)
_______ _______ _______
Total comprehensive income for the year - ( 15,703) ( 15,703)
_______ _______ _______
At 31 December 2023 100 ( 26,440) ( 26,340)
_______ _______ _______
RIDGEBOURNE MANAGEMENT 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 Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is insolvent and dependant upon the continued support of the director.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, over the useful life of that asset as follows:
Combined other intangible assets - 20 % straight line
Tangible assets
tangible assets are initially recorded at cost, and are 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,over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2023 and 31 December 2023 41,600 41,600
_______ _______
Amortisation
At 1 January 2023 33,280 33,280
Charge for the year 8,320 8,320
_______ _______
At 31 December 2023 41,600 41,600
_______ _______
Carrying amount
At 31 December 2023 - -
_______ _______
At 31 December 2022 8,320 8,320
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 3,365 3,365
Additions 1,985 1,985
_______ _______
At 31 December 2023 5,350 5,350
_______ _______
Depreciation
At 1 January 2023 901 901
Charge for the year 568 568
_______ _______
At 31 December 2023 1,469 1,469
_______ _______
Carrying amount
At 31 December 2023 3,881 3,881
_______ _______
At 31 December 2022 2,464 2,464
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 1,680 3,951
Other debtors 3,011 13,528
_______ _______
4,691 17,479
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 3,507 3,507
Social security and other taxes 2,121 249
Other creditors 37,624 36,850
_______ _______
43,252 40,606
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 5,846 9,888
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr T S Stark ( 34,059) ( 2,277) ( 36,336)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr T S Stark ( 12,154) ( 21,905) ( 34,059)
_______ _______ _______