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REGISTERED NUMBER: 09910671 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

RIDGEMONT HOLDINGS LTD

RIDGEMONT HOLDINGS LTD (REGISTERED NUMBER: 09910671)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RIDGEMONT HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: P A Petrou





REGISTERED OFFICE: Southgate Office Village
286a Chase Road
London
N14 6HF





REGISTERED NUMBER: 09910671 (England and Wales)





ACCOUNTANTS: ELM Partners
Chartered Certified Accountants
Southgate Office Village
286a Chase Road
Southgate
London
N14 6HF

RIDGEMONT HOLDINGS LTD (REGISTERED NUMBER: 09910671)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 447 596
Investment property 5 3,050,000 -
3,050,447 596

CURRENT ASSETS
Stocks - 3,020,858
Debtors 6 2,758,908 2,680,302
Cash at bank and in hand 7,809 21,958
2,766,717 5,723,118
CREDITORS
Amounts falling due within one year 7 3,066,692 3,058,434
NET CURRENT (LIABILITIES)/ASSETS (299,975 ) 2,664,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,750,472

2,665,280

CREDITORS
Amounts falling due after more than one year 8 2,156,076 2,156,076
NET ASSETS 594,396 509,204

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 594,296 509,104
SHAREHOLDERS' FUNDS 594,396 509,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RIDGEMONT HOLDINGS LTD (REGISTERED NUMBER: 09910671)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





P A Petrou - Director


RIDGEMONT HOLDINGS LTD (REGISTERED NUMBER: 09910671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Ridgemont Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
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.

Turnover
Turnover represents the market value of the stock when it was appropriated to the company to become investment property and also represents rent receivable from property letting.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

RIDGEMONT HOLDINGS LTD (REGISTERED NUMBER: 09910671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023
and 31 May 2024 2,510
DEPRECIATION
At 1 June 2023 1,914
Charge for year 149
At 31 May 2024 2,063
NET BOOK VALUE
At 31 May 2024 447
At 31 May 2023 596

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 3,050,000
At 31 May 2024 3,050,000
NET BOOK VALUE
At 31 May 2024 3,050,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 3,050,000

Investment property was valued on a fair value basis on 31 May 2024 by the director of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 405,570 331,670
Amounts owed by connected companies 2,353,338 2,348,338
Other debtors - 294
2,758,908 2,680,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to connected companies 915,169 915,169
Taxation and social security 28,447 15,650
Other creditors 2,123,076 2,127,615
3,066,692 3,058,434

RIDGEMONT HOLDINGS LTD (REGISTERED NUMBER: 09910671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,156,076 2,156,076

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,156,076 2,156,076

10. RELATED PARTY DISCLOSURES

Included in "Creditors: amount falling due within one year" is an amount of £2,119,056 (2023: £2,125,155), owed to P A Petrou, director of the company. The loan was interest free.

Included in "Creditors: amount falling due within one year" is an amount of £915,169 (2023: £915,169) due to companies where P A Petrou has a beneficial interest and in which his father has a beneficial interest and is also the sole director. The loan is interest free.

Included in "Debtors: amount falling due within one year" is an amount of £2,353,337 (2023: £2,348,337) due from companies where P A Petrou is the sole director and shareholder. The loan is interest free.