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REGISTERED NUMBER: 00867372 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RIDGE YACHTING CENTRE LTD

RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance sheet 1

Notes to the financial statements 3


RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 333,160 319,738

Current assets
Stocks 28,153 33,053
Debtors 5 111,810 117,623
Cash at bank and in hand 197,138 212,805
337,101 363,481
Creditors
Amounts falling due within one year 6 209,998 208,109
Net current assets 127,103 155,372
Total assets less current liabilities 460,263 475,110

Creditors
Amounts falling due after more than one year 7 (17,500 ) (27,500 )

Provisions for liabilities 8 (25,822 ) (21,821 )
Net assets 416,941 425,789

Capital and reserves
Called up share capital 9 20,804 20,804
Share premium 1,830 1,830
Capital redemption reserve 5,597 5,597
Retained earnings 388,710 397,558
Shareholders' funds 416,941 425,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

BALANCE SHEET - continued
31 DECEMBER 2023


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 comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 July 2024 and were signed by:





Mr A Clarke - Director


RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. Statutory information

Ridge Yachting Centre Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 00867372 and the company's registered office and business address is Ridge Wharf Yacht Centre, Ridge, Wareham, Dorset, BH20 5BG.

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.

Turnover
Turnover represents amounts receivable for the operation of a yachting centre, net of VAT and trade discounts.

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 - not provided
Improvements to property - 1% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold property is not depreciated as it relates to land.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 that have been enacted or substantively enacted by the balance sheet date.

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.

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.

RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 11 ) .

4. Tangible fixed assets
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1 January 2023 55,000 258,300 408,892
Additions - - 36,570
Disposals - - (164,752 )
At 31 December 2023 55,000 258,300 280,710
Depreciation
At 1 January 2023 - 80,845 337,283
Charge for year - 2,583 26,496
Eliminated on disposal - - (162,555 )
At 31 December 2023 - 83,428 201,224
Net book value
At 31 December 2023 55,000 174,872 79,486
At 31 December 2022 55,000 177,455 71,609

RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. Tangible fixed assets - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 January 2023 29,834 31,561 783,587
Additions 1,638 13,161 51,369
Disposals - (3,000 ) (167,752 )
At 31 December 2023 31,472 41,722 667,204
Depreciation
At 1 January 2023 21,902 23,819 463,849
Charge for year 1,436 5,222 35,737
Eliminated on disposal - (2,987 ) (165,542 )
At 31 December 2023 23,338 26,054 334,044
Net book value
At 31 December 2023 8,134 15,668 333,160
At 31 December 2022 7,932 7,742 319,738

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 88,897 97,729
Other debtors 1,000 1,000
Prepayments 21,913 18,894
111,810 117,623

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 10,767 27,136
Tax 104,146 81,048
Social security and other taxes 6,159 5,717
Pension creditor 1,271 1,360
VAT 25,767 27,997
Other creditors 46,212 46,212
Directors' current accounts 726 726
Accruals and deferred income 4,950 7,913
209,998 208,109

Barclays bank holds a legal charge over the land known as Ridge Yachting Centre for all monies due or that become due from the company.

RIDGE YACHTING CENTRE LTD (REGISTERED NUMBER: 00867372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 7,500 17,500
17,500 27,500

8. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 25,822 21,821

Deferred
tax
£   
Balance at 1 January 2023 21,821
Charge to Income statement during year 4,001
Balance at 31 December 2023 25,822

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
17,053 Ordinary A £1 17,053 17,053
2,500 Ordinary B £1 2,500 2,500
1,000 Ordinary C £1 1,000 1,000
250 Ordinary D £1 250 250
1 Ordinary E £1 1 1
20,804 20,804

10. Ultimate controlling party

The company is under the control of the director and shareholder, Mr A Clarke, who manages the day to day operations of the business.