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REGISTERED NUMBER: 03014804 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

RIDGWAY AVIATION LIMITED

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RIDGWAY AVIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: T R Jones
S R Jones





SECRETARY: T R Jones





REGISTERED OFFICE: Earthmover House
Ridgway Business Park
St Martins
Shropshire
SY11 3PZ





REGISTERED NUMBER: 03014804 (England and Wales)





AUDITORS: D.R.E. & Co. (Audit) Limited
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 123,778 122,895

CURRENT ASSETS
Stocks 2,846 346
Debtors 6 2,787 460
Cash at bank 676 2,278
6,309 3,084
CREDITORS
Amounts falling due within one year 7 46,058 22,154
NET CURRENT LIABILITIES (39,749 ) (19,070 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,029

103,825

PROVISIONS FOR LIABILITIES 8 21,613 12,988
NET ASSETS 62,416 90,837

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 29,843 29,843
Retained earnings 9 32,571 60,992
SHAREHOLDERS' FUNDS 62,416 90,837

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 5 November 2024 and were signed on its behalf by:





T R Jones - Director


RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Ridgway Aviation Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements are for the individual entity only.

These financial statements are presented in Sterling (£), rounded to the nearest £1.

At the year end the company had net current liabilities of £39,749 (2023: £19,070). The company finances its working capital requirements via loans from other group companies. The director has reviewed the support of group companies and fully expect it to continue for the foreseeable future. The director therefore considers the going concern basis to be appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Landing strip - not provided
Buildings and Hangers - 25% on cost
Aircraft - not provided
Plant and Machinery - 10% on cost

Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to it working condition for its intended use.

The directors have reviewed the valuation of the aircraft and are not depreciating it on the basis that the carrying value exceeds the expected residual value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Buildings
Landing and Plant and
strip Hangers Aircraft Machinery Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 20,173 19,891 131,865 14,977 186,906
Additions - - - 1,075 1,075
At 30 April 2024 20,173 19,891 131,865 16,052 187,981
DEPRECIATION
At 1 May 2023 - 19,891 30,023 14,097 64,011
Charge for year - - - 192 192
At 30 April 2024 - 19,891 30,023 14,289 64,203
NET BOOK VALUE
At 30 April 2024 20,173 - 101,842 1,763 123,778
At 30 April 2023 20,173 - 101,842 880 122,895

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2024 is represented by:

Buildings
Landing and Plant and
strip Hangers Aircraft Machinery Totals
£    £    £    £    £   
Valuation in 2023 - - 29,843 - 29,843
Cost 20,173 19,891 102,022 16,052 158,138
20,173 19,891 131,865 16,052 187,981

If the aircraft had not been revalued it would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 102,022 102,022
Aggregate depreciation 30,022 30,022

The aircraft was valued on an open market basis on 30 April 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 2,787 460

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed to group undertakings 42,058 17,938
Taxation and social security - 216
Other creditors 4,000 4,000
46,058 22,154

8. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 21,613 12,988

Deferred
tax
£   
Balance at 1 May 2023 12,988
Provided during year 8,625
Balance at 30 April 2024 21,613

RIDGWAY AVIATION LIMITED (REGISTERED NUMBER: 03014804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 60,992 29,843 90,835
Deficit for the year (28,421 ) (28,421 )
At 30 April 2024 32,571 29,843 62,414

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Francis Nock F.C.C.A. (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Sandford Assets Limited. Sandford Assets Limited is the parent of the smallest
group for which consolidated financial statements are prepared, which include Ridgway Aviation Limited.

The ultimate parent company is Ridgway Holdings Limited, a company registered in England and Wales.

Ridgway Holdings Limited is the parent of the largest group for which consolidated financial statements are
prepared, which include Ridgway Aviation Limited.

Group accounts are freely available from Companies House.

The registered office of both the immediate parent company and the ultimate parent company is Earthmover House Ridgway Business Park, St Martins, Oswestry, Shropshire, SY11 3PZ.

The ultimate controlling party is T R Jones Esq and Mrs W M Jones, by virtue of their controlling shareholding in the ultimate parent company, Ridgway Holdings Limited.