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REGISTERED NUMBER: 05732041 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RIDGWELLS LIMITED

RIDGWELLS LIMITED (REGISTERED NUMBER: 05732041)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIDGWELLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: B Ridgwell
Mrs G L Ridgwell





SECRETARY: Mrs G L Ridgwell





REGISTERED OFFICE: Grosse Point
Mount George Road
Feock
Truro
Cornwall
TR3 6QX





REGISTERED NUMBER: 05732041 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

RIDGWELLS LIMITED (REGISTERED NUMBER: 05732041)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 284,518 199,862

CURRENT ASSETS
Stocks 109,785 151,745
Debtors 5 174,625 38,611
Cash at bank 399,882 373,124
684,292 563,480
CREDITORS
Amounts falling due within one year 6 216,582 160,880
NET CURRENT ASSETS 467,710 402,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

752,228

602,462

PROVISIONS FOR LIABILITIES 67,573 37,974
NET ASSETS 684,655 564,488

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 684,653 564,486
SHAREHOLDERS' FUNDS 684,655 564,488

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.

RIDGWELLS LIMITED (REGISTERED NUMBER: 05732041)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:




B Ridgwell - Director



Mrs G L Ridgwell - Director


RIDGWELLS LIMITED (REGISTERED NUMBER: 05732041)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ridgwells 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

RIDGWELLS LIMITED (REGISTERED NUMBER: 05732041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 328,188 - 8,378 336,566
Additions 60,874 85,951 - 146,825
Disposals (39,050 ) - - (39,050 )
At 31 March 2024 350,012 85,951 8,378 444,341
DEPRECIATION
At 1 April 2023 131,188 - 5,516 136,704
Charge for year 37,963 12,893 716 51,572
Eliminated on disposal (28,453 ) - - (28,453 )
At 31 March 2024 140,698 12,893 6,232 159,823
NET BOOK VALUE
At 31 March 2024 209,314 73,058 2,146 284,518
At 31 March 2023 197,000 - 2,862 199,862

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 134,583 27,488
VAT 35,394 8,499
Prepayments and accrued income 4,648 2,624
174,625 38,611

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 97,583 27,106
Trade creditors 60,179 72,178
Accruals & deferred income 1,413 1,413
Tax 32,431 33,071
Social security and other taxes 7,883 6,075
Other creditors 1,248 910
Directors' current accounts 15,645 20,127
Accrued expenses 200 -
216,582 160,880

7. RELATED PARTY DISCLOSURES

The company is controlled by Mr & Mrs Ridgwell, by virtue of the fact that between them they own 100% of the company's ordinary issued share capital.