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REGISTERED NUMBER: 03618122 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

RIDGWAY PROPERTIES LIMITED

RIDGWAY PROPERTIES LIMITED (REGISTERED NUMBER: 03618122)






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 PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: T R Jones
G R Jones
S R Jones





SECRETARY: T R Jones





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





REGISTERED NUMBER: 03618122 (England and Wales)





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

RIDGWAY PROPERTIES LIMITED (REGISTERED NUMBER: 03618122)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,673,186 2,693,893

CURRENT ASSETS
Debtors 6 1,000 -
Cash at bank 1,846 151
2,846 151
CREDITORS
Amounts falling due within one year 7 2,587,590 2,567,614
NET CURRENT LIABILITIES (2,584,744 ) (2,567,463 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,442

126,430

PROVISIONS FOR LIABILITIES 38,502 36,038
NET ASSETS 49,940 90,392

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 49,840 90,292
SHAREHOLDERS' FUNDS 49,940 90,392

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 PROPERTIES LIMITED (REGISTERED NUMBER: 03618122)

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

1. STATUTORY INFORMATION

Ridgway Properties 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
These financial statements have been prepared under the historical cost convention.

These financial statements are for the individual entity only.

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

Basis of preparing the financial statements
At the balance sheet date the company had net current liabilities of £2,584,744 (2023: £2,567,463). As shown in the creditors due within one year note, amounts are due to group companies of £2,575,779 (2023: £2,383,638). The directors have reviewed the support of the group companies and fully expect this to continue for the foreseeable future.

The company finances its working capital requirements via loans from group companies and there is no indication that this support will not continue. The directors have considered post year-end trading and believe that the going concern basis of preparation is still appropriate.

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 - 25% on cost
Office equipment - 25% on cost

Buildings are depreciated at an annual rate of 1% on cost.

No depreciation has been provided in respect of the company's freehold land.

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.

RIDGWAY PROPERTIES LIMITED (REGISTERED NUMBER: 03618122)

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

3. ACCOUNTING POLICIES - continued

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.

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.

Operating lease income
Rental income from operating leases are recognised on a straight line basis over the period of the leases.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

RIDGWAY PROPERTIES LIMITED (REGISTERED NUMBER: 03618122)

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

5. TANGIBLE FIXED ASSETS
Freehold
land and Plant and Office
buildings machinery equipment Totals
£    £    £    £   
COST
At 1 May 2023 2,873,449 17,826 1,434 2,892,709
Additions 4,230 - - 4,230
At 30 April 2024 2,877,679 17,826 1,434 2,896,939
DEPRECIATION
At 1 May 2023 179,556 17,826 1,434 198,816
Charge for year 24,937 - - 24,937
At 30 April 2024 204,493 17,826 1,434 223,753
NET BOOK VALUE
At 30 April 2024 2,673,186 - - 2,673,186
At 30 April 2023 2,693,893 - - 2,693,893

Included in cost of land and buildings is freehold land of £ 383,991 (2023 - £ 383,991 ) which is not depreciated.

At the year end the gross amount of assets held for use in operating leases is £2,877,679 (2023: £2,873,449) and the related accumulation charges are £204,493 (2023: £179,556).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 151,760
Trade creditors 3,906 1,863
Amounts owed to group undertakings 2,575,779 2,383,638
Corporation tax - 22,714
Social security and other taxes 4,905 4,640
Accruals and deferred income 3,000 2,999
2,587,590 2,567,614

RIDGWAY PROPERTIES LIMITED (REGISTERED NUMBER: 03618122)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans - 151,760

The bank loans are secured by way of a fixed legal charge over the company's land and buildings at Ridgway Business Park dated 28 January 2019.

Bank loans are also secured by an unlimited guarantee given by Sandford Assets Limited and by fellow subsidiary companies Ridgway Rentals Limited, Ridgway Holdings International Limited and Ridgway Leasing Limited.

9. 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

10. 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.

11. 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 Properties 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 Properties 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.