Ripeshare Ltd 09121523 false 2023-03-31 2024-03-30 2024-03-30 The principal activity of the company is that of property landlords Digita Accounts Production Advanced 6.30.9574.0 true true 09121523 2023-03-31 2024-03-30 09121523 2024-03-30 09121523 bus:OrdinaryShareClass1 2024-03-30 09121523 core:CurrentFinancialInstruments 2024-03-30 09121523 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-30 09121523 core:Non-currentFinancialInstruments 2024-03-30 09121523 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-30 09121523 bus:SmallEntities 2023-03-31 2024-03-30 09121523 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-30 09121523 bus:FilletedAccounts 2023-03-31 2024-03-30 09121523 bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-30 09121523 bus:RegisteredOffice 2023-03-31 2024-03-30 09121523 bus:Director1 2023-03-31 2024-03-30 09121523 bus:OrdinaryShareClass1 2023-03-31 2024-03-30 09121523 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-30 09121523 countries:EnglandWales 2023-03-31 2024-03-30 09121523 2023-03-30 09121523 2022-03-31 2023-03-30 09121523 2023-03-30 09121523 bus:OrdinaryShareClass1 2023-03-30 09121523 core:CurrentFinancialInstruments 2023-03-30 09121523 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-30 09121523 core:Non-currentFinancialInstruments 2023-03-30 09121523 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09121523

Ripeshare Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 March 2024

 

Ripeshare Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Ripeshare Ltd

Company Information

Director

Mr Richard Antony Peeters

Registered office

Great North Business Centre
82 Great North Road
Hatfield
AL9 5BL

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Ripeshare Ltd

(Registration number: 09121523)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

5,550,970

5,557,650

Current assets

 

Debtors

5

53,597

126,050

Cash at bank and in hand

 

14,498

55,149

 

68,095

181,199

Creditors: Amounts falling due within one year

6

(87,392)

(16,176)

Net current (liabilities)/assets

 

(19,297)

165,023

Total assets less current liabilities

 

5,531,673

5,722,673

Creditors: Amounts falling due after more than one year

6

(3,233,663)

(3,239,872)

Provisions for liabilities

(98,163)

-

Net assets

 

2,199,847

2,482,801

Capital and reserves

 

Called up share capital

7

200

200

Share premium reserve

1,987,617

1,987,617

Other reserves

294,487

467,650

Retained earnings

(82,457)

27,334

Shareholders' funds

 

2,199,847

2,482,801

For the financial year ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 November 2024
 

 

Ripeshare Ltd

(Registration number: 09121523)
Balance Sheet as at 30 March 2024

.........................................
Mr Richard Antony Peeters
Director

 

Ripeshare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Great North Business Centre
82 Great North Road
Hatfield
AL9 5BL
UK

These financial statements were authorised for issue by the director on 14 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ripeshare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Ripeshare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Investment properties

2024
£

At 31 March

5,557,650

Additions

68,320

Fair value adjustments

(75,000)

At 30 March

5,550,970

The investment properties have been revalued by the director

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Trade debtors

1,117

13,570

Other debtors

52,480

112,480

53,597

126,050

 

Ripeshare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

6,210

6,210

Trade creditors

 

7,847

-

Taxation and social security

 

-

458

Other creditors

 

19,335

5,508

Directors Loan Account

 

54,000

4,000

 

87,392

16,176

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

3,233,663

3,239,872


Creditors include bank loans which are secured of £3,238,091 (2022 - £3,244,974)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

       
 

Ripeshare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,204,514

3,204,514

Other borrowings

29,149

35,358

3,233,663

3,239,872

Current loans and borrowings

2024
£

2023
£

Other borrowings

6,210

6,210