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Registered number: OC325342
Ridgeway Ventures LLP
Unaudited Financial Statements
For The Year Ended 5 April 2024
Mutu Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC325342
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,747 6,681
Tangible Assets 5 4,081 3,873
15,828 10,554
CURRENT ASSETS
Debtors 6 120,512 115,225
Cash at bank and in hand 23,152 33,528
143,664 148,753
Creditors: Amounts Falling Due Within One Year 7 (59,208 ) (44,538 )
NET CURRENT ASSETS (LIABILITIES) 84,456 104,215
TOTAL ASSETS LESS CURRENT LIABILITIES 100,284 114,769
NET ASSETS ATTRIBUTABLE TO MEMBERS 100,284 114,769
REPRESENTED BY:
Equity
Members' other interests
Members' capital 100,284 114,769
100,284 114,769
TOTAL MEMBERS' INTEREST
Members' other interests 100,284 114,769
100,284 114,769
Page 1
Page 2
For the year ending 5 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
E Haddon
Designated Member
02/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ridgeway Ventures LLP is a limited liability partnership, incorporated in England & Wales, registered number OC325342 . The Registered Office is C/O Mutu Accountancy Ltd, 7 Chelsea Road, Bath, Somerset, BA1 3DU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight line over 4 years
Fixtures & Fittings Straight line over 4 years
Computer Equipment Straight line over 4 years
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 6 April 2023 13,021
Additions 7,076
As at 5 April 2024 20,097
Amortisation
As at 6 April 2023 6,340
Other 2,010
As at 5 April 2024 8,350
Net Book Value
As at 5 April 2024 11,747
As at 6 April 2023 6,681
Page 3
Page 4
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 6 April 2023 2,364 16,989 19,353
Additions - 2,766 2,766
As at 5 April 2024 2,364 19,755 22,119
Depreciation
As at 6 April 2023 2,194 13,286 15,480
Provided during the period 170 2,388 2,558
As at 5 April 2024 2,364 15,674 18,038
Net Book Value
As at 5 April 2024 - 4,081 4,081
As at 6 April 2023 170 3,703 3,873
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 119,636 114,105
Other debtors 876 1,120
120,512 115,225
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 85 -
Other creditors 31,237 22,835
Taxation and social security 27,886 21,703
59,208 44,538
Page 4