Company registration number 12273844 (England and Wales)
RAVINE MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
RAVINE MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
Mr A Rudd
Ms S Rudd
Company number
12273844
Registered office
12 Saviles Close
Eaton Ford
St. Neots
Cambridgeshire
England
PE19 7GD
Accountants
Aston Shaw Ltd (Norwich)
Union Suite
Union Building
51 - 59 Rose Lane
Norwich
Norfolk
England
NR1 1BY
RAVINE MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RAVINE MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,407,773
971,957
Current assets
Debtors
4
26,602
14,586
Cash at bank and in hand
15,054
61,879
41,656
76,465
Creditors: amounts falling due within one year
5
(4,003,066)
(1,400,826)
Net current liabilities
(3,961,410)
(1,324,361)
Net liabilities
(553,637)
(352,404)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(553,737)
(352,504)
Total equity
(553,637)
(352,404)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
Mr A Rudd
Ms S Rudd
Director
Director
Company registration number 12273844 (England and Wales)
RAVINE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

Ravine Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Saviles Close, Eaton Ford, St. Neots, England, PE19 7GD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Leasehold improvements
2% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

RAVINE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2022
1,460,923
Additions
1,522,437
Transfers
1,312,585
At 31 October 2023
4,295,945
Depreciation and impairment
At 1 November 2022
488,966
Depreciation charged in the year
55,470
Transfers
343,736
At 31 October 2023
888,172
Carrying amount
At 31 October 2023
3,407,773
At 31 October 2022
971,957

On 20 July 2022, St Nicholas Place was transferred at book value to Ravine Management from its parent company, ADR Care Homes Limited.

 

On 16 November 2022, Bethany Francis was transferred at book value to Ravine Management from its parent company, ADR Care Homes Limited.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
26,602
14,586
RAVINE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,421,527
75,662
Amounts owed to group undertakings
1,984,857
1,026,859
Other creditors
596,682
298,305
4,003,066
1,400,826
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