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Registered number: 02058818









RIDGESHIRE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
RIDGESHIRE LIMITED
REGISTERED NUMBER: 02058818

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

CURRENT ASSETS
  

Stocks
  
3,319,544
4,513,164

Debtors: amounts falling due within one year
 4 
1,325
87,351

Cash at bank and in hand
  
11,652
48,481

  
3,332,521
4,648,996

  

Creditors: amounts falling due within one year
 5 
(3,619,652)
(5,096,975)

NET LIABILITIES
  
(287,131)
(447,979)


CAPITAL AND RESERVES
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
(288,131)
(448,979)

  
(287,131)
(447,979)


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J A Durman
Director

Date: 10 February 2025

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
RIDGESHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Ridgeshire Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 264 High Street, Cottenham, Cambridge, CB24 8RZ.
The parent undertaking of the smallest group to consolidate these financial statements is Durman Stearn Holdings Limited, a private company limited by shares and incorporated in England and Wales. Its registered office is 264 High Street, Cottenham, Cambridge, CB24 8RZ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have considered the going concern basis of preparation of the financial statements, noting the net current liabilities position at the balance sheet date. The Company has been financed to date by its immediate parent company, Durman Stearn Holdings Limited, which has confirmed the Company will continue to receive financial support for the foreseeable future.
The directors are confident that the Group has the ability to trade with sufficient cash headroom and as a result is able to continue providing financial support to the Company.
Based on the cash reserves at the balance sheet date and the continued financial support confirmed by Durman Stearn Holdings Limited, the directors are satisfied that the Company will be able to meet its liabilities as they fall due for the foreseeable future, being a period of not less than 12 months from the date of approval of these financial statements. Accordingly they continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of the sale of development property during the year, exclusive of value added tax.

Page 2

 
RIDGESHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value and comprise capitalised development costs carried forward under ongoing projects.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.7

CASH AT BANK AND IN HAND

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

CREDITORS

Short term creditors are measured at the transaction price.

Page 3

 
RIDGESHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The Company has no direct employees as all wages and salaries costs are recharged from group companies.


Page 4

 
RIDGESHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


DEBTORS

2024
2023
£
£


Amounts owed by group undertakings
1,029
-

Other debtors
140
9,797

Prepayments and accrued income
156
396

Deferred taxation (note 7)
-
77,158

1,325
87,351


Amounts owed by group undertakings are unsecured and do not accrue interest.


5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
10,348
17,977

Amounts owed to group undertakings
3,150,563
4,655,278

Other creditors
4,727
61,026

Accruals and deferred income
454,014
362,694

3,619,652
5,096,975


Amounts owed to group undertakings are unsecured and accrue interest at 2.25%.


6.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
77,158
-


Credited to profit or loss
(77,158)
77,158



AT END OF YEAR
-
77,158

Page 5

 
RIDGESHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
 
6.DEFERRED TAXATION (CONTINUED)

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
-
77,158

-
77,158


7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2023 - 1,000) Ordinary shares of £1 each
1,000
1,000



8.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 10 February 2025 by Edward Napper (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

 
Page 6