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REGISTERED NUMBER: 05480092















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Ridown Group Limited

Ridown Group Limited (Registered number: 05480092)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ridown Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D M Ridge
A M Brown





SECRETARY: D M Ridge





REGISTERED OFFICE: Ridown Building
Fulcrum 2
Whiteley
Hampshire
PO15 7FN





REGISTERED NUMBER: 05480092





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Ridown Group Limited (Registered number: 05480092)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 175,024 215,008
Investments 5 1 1
175,025 215,009

CURRENT ASSETS
Debtors 6 840,406 584,400
Investments 7 8,250 8,250
Cash at bank 47,780 35,080
896,436 627,730
CREDITORS
Amounts falling due within one year 8 1,165,015 951,455
NET CURRENT LIABILITIES (268,579 ) (323,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(93,554

)

(108,716

)

CREDITORS
Amounts falling due after more than one
year

9

154,373

198,666
NET LIABILITIES (247,927 ) (307,382 )

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 (248,927 ) (308,382 )
SHAREHOLDERS' FUNDS (247,927 ) (307,382 )

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 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.

Ridown Group Limited (Registered number: 05480092)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2024 and were signed on its behalf by:





A M Brown - Director


Ridown Group Limited (Registered number: 05480092)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ridown Group Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Ridown Group Limited (Registered number: 05480092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Functional and presentational currencies
The financial statements are presented in sterling which is also the functional currency of the Company.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 AND DIRECTORS

The average number of employees during the year was 12 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 19,098 211,154 72,196 302,448
Additions 666 11,167 8,749 20,582
At 31 December 2023 19,764 222,321 80,945 323,030
DEPRECIATION
At 1 January 2023 4,708 22,042 60,690 87,440
Charge for year 2,192 50,070 8,304 60,566
At 31 December 2023 6,900 72,112 68,994 148,006
NET BOOK VALUE
At 31 December 2023 12,864 150,209 11,951 175,024
At 31 December 2022 14,390 189,112 11,506 215,008

Ridown Group Limited (Registered number: 05480092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 206,955
DEPRECIATION
At 1 January 2023 21,605
Charge for year 46,337
At 31 December 2023 67,942
NET BOOK VALUE
At 31 December 2023 139,013
At 31 December 2022 185,350

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 109,785 41,994
Amounts owed by group undertakings 420,000 300,000
Other debtors 310,621 242,406
840,406 584,400

7. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Other 8,250 8,250

Ridown Group Limited (Registered number: 05480092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 34,292 27,755
Trade creditors 119,336 75,478
Amounts owed to group undertakings 380,208 -
Taxation and social security 74,614 29,476
Other creditors 546,565 808,746
1,165,015 951,455

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,670 24,670
Hire purchase contracts 139,703 173,996
154,373 198,666

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 January 2023 (308,382 )
Profit for the year 59,455
At 31 December 2023 (248,927 )

Ridown Group Limited (Registered number: 05480092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. RELATED PARTY DISCLOSURES

During the year the Company provided the following services to Companies in which both Mr Ridge and Mr Brown are shareholders/directors:

31.12.2331.12.22
£   £   

Cybersentry Global Limited614,171304,000
Webuyanyphone Limited135,19275,349
Hosted Business Limited34,35624,317
Onestream Limited161,29279,178
Ridown Property Limited120,0006,500


At the year end the following balance were due from/(to) companies in which Mr Ridge and Mr Brown are directors/shareholders:

£   
Ridown Limited(380,208)
Ridown Capital Limited(544,734)