Company Registration No. 11825881 (England and Wales)
Ridding Construction Ltd
Unaudited accounts
for the year ended 29 February 2024
Ridding Construction Ltd
Unaudited accounts
Contents
Ridding Construction Ltd
Company Information
for the year ended 29 February 2024
Secretary
Michelle Ridding
Company Number
11825881 (England and Wales)
Registered Office
55 SUN MOOR DRIVE
SKIPTON
NORTH YORKSHIRE
BD23 2JS
UNITED KINGDOM
Accountants
Goodbooks (Skipton) Ltd
Duke House
Duke Street
Skipton
North Yorkshire
BD23 2HQ
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Ridding Construction Ltd for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Ridding Construction Ltd for the year ended
29 February 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Ridding Construction Ltd, as a body, in accordance with the terms of our engagement letter dated 30 October 2019. Our work has been undertaken solely to prepare for your approval the accounts of Ridding Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Ridding Construction Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ridding Construction Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ridding Construction Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ridding Construction Ltd. You consider that Ridding Construction Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ridding Construction Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Goodbooks (Skipton) Ltd
Chartered Accountants
Duke House
Duke Street
Skipton
North Yorkshire
BD23 2HQ
15 November 2024
Ridding Construction Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
56,292
67,951
Cash at bank and in hand
127,477
190,550
Creditors: amounts falling due within one year
(100,528)
(157,104)
Net current assets
76,358
86,440
Total assets less current liabilities
132,650
154,391
Creditors: amounts falling due after more than one year
(14,626)
(28,777)
Provisions for liabilities
Deferred tax
(10,697)
(12,911)
Net assets
107,327
112,703
Called up share capital
2
2
Profit and loss account
107,325
112,701
Shareholders' funds
107,327
112,703
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 November 2024 and were signed on its behalf by
Martin Ridding
Director
Company Registration No. 11825881
Ridding Construction Ltd
Notes to the Accounts
for the year ended 29 February 2024
Ridding Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 11825881. The registered office is 55 SUN MOOR DRIVE, SKIPTON, NORTH YORKSHIRE, BD23 2JS, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15%, 25%, 4, 5 and 7 years Straight line
Motor vehicles
25% Straight line
Fixtures & fittings
5 Years Straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Ridding Construction Ltd
Notes to the Accounts
for the year ended 29 February 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
131,068
47,103
288
178,459
Additions
18,449
-
288
18,737
Disposals
(17,462)
-
(288)
(17,750)
At 29 February 2024
132,055
47,103
288
179,446
At 1 March 2023
81,790
28,602
116
110,508
Charge for the year
12,354
8,882
38
21,274
On disposals
(8,512)
-
(116)
(8,628)
At 29 February 2024
85,632
37,484
38
123,154
At 29 February 2024
46,423
9,619
250
56,292
At 28 February 2023
49,278
18,501
172
67,951
Amounts falling due within one year
Trade debtors
25,011
13,401
Accrued income and prepayments
146
74
Other debtors
24,252
35,343
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
8,000
8,000
Obligations under finance leases and hire purchase contracts
6,667
6,667
Trade creditors
32,686
21,219
Taxes and social security
1,887
3,695
Loans from directors
47,231
117,313
Ridding Construction Ltd
Notes to the Accounts
for the year ended 29 February 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
2,778
9,444
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).