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REGISTERED NUMBER: 08668887 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RIBCHESTERS GROUP LIMITED

RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)






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


RIBCHESTERS GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J D Holloway FCA DChA
R W Ribchester FCA MA(Dunelm)
M A Pott





REGISTERED OFFICE: Finchale House
Belmont Business Park
Durham
DH1 1TW





REGISTERED NUMBER: 08668887 (England and Wales)






RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 271,112 324,445
Tangible assets 5 18,481 22,794
Investments 6 21 21
289,614 347,260

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 7 567,516 440,028
Cash at bank 935,981 734,080
1,504,497 1,175,108
CREDITORS
Amounts falling due within one year 8 328,112 266,202
NET CURRENT ASSETS 1,176,385 908,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,465,999

1,256,166

PROVISIONS FOR LIABILITIES 3,708 4,074
NET ASSETS 1,462,291 1,252,092

CAPITAL AND RESERVES
Called up share capital 9 6,010 6,000
Capital redemption reserve 4,000 4,000
Retained earnings 1,452,281 1,242,092
SHAREHOLDERS' FUNDS 1,462,291 1,252,092

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.

RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

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 4 November 2024 and were signed on its behalf by:




J D Holloway FCA DChA - Director



R W Ribchester FCA MA(Dunelm) - Director


RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

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

1. STATUTORY INFORMATION

Ribchesters Group 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 derives from the principal activity of the company, and represents revenue earned, net of value added tax, on client contracts performed during the accounting period. Revenue is recognised at the fair value of work performed up to the balance sheet date, once the right to revenue exists, the amounts receivable can be measured reliably and it is probable that the revenue will be received.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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

RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' of FRS 102to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at present
value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

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

2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill is being amortised on a straight-line basis over a period of 15 years. It relates to the acquisition of a long-established business in 2014. That period was adopted after assessing the average length of client retention and the average annual recurring fees that such clients generate, to determine the period over which economic benefits can be expected to flow from the acquisition. The directors consider that amortisation period to remain appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 800,000
AMORTISATION
At 1 April 2023 475,555
Amortisation for year 53,333
At 31 March 2024 528,888
NET BOOK VALUE
At 31 March 2024 271,112
At 31 March 2023 324,445

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 27,513 46,817 65,475 139,805
Additions - 3,130 7,367 10,497
At 31 March 2024 27,513 49,947 72,842 150,302
DEPRECIATION
At 1 April 2023 21,552 36,058 59,401 117,011
Charge for year 2,751 4,656 7,403 14,810
At 31 March 2024 24,303 40,714 66,804 131,821
NET BOOK VALUE
At 31 March 2024 3,210 9,233 6,038 18,481
At 31 March 2023 5,961 10,759 6,074 22,794

RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

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

6. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1 20 21
NET BOOK VALUE
At 31 March 2024 1 20 21
At 31 March 2023 1 20 21

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Ribchesters Limited
Registered office: Finchale House, Belmont Business Park, Durham, DH11TW
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Associated company

Ribchester Smith & Law Limited
Registered office: Sutherland House, 5-7 The Friars, Newcastle upon Tyne, NE1 5XE
Nature of business: Chartered Accountants
%
Class of shares: holding
Ordinary 20.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 217,412 120,126
Amounts recoverable on
contracts 304,018 242,199
Other debtors 46,086 77,703
567,516 440,028

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 37,155 32,241
Taxation and social security 276,649 215,954
Other creditors 14,308 18,007
328,112 266,202

RIBCHESTERS GROUP LIMITED (REGISTERED NUMBER: 08668887)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary A £1.00 - -
4,000 Ordinary B £1.00 3,010 4,000
2,000 Ordinary C £1.00 3,000 2,000
6,010 6,000

10 Ordinary B shares of £1.00 each were allotted and fully paid for cash at par during the year.

On 1 April 2024 1,000 £1.00 Ordinary B Shares were re-designated as 1,000 Ordinary £1.00 C Shares.

10. RELATED PARTY DISCLOSURES

The directors have provided interest free loans to the company. The total amount outstanding at the year end was £nil (2023:£180). The loans are interest free and repayable on demand.