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REGISTERED NUMBER: 12745202 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024

FOR

RIDGEWAY PROPERTY (MIDLANDS) LTD

RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIDGEWAY PROPERTY (MIDLANDS) LTD

COMPANY INFORMATION
for the Year Ended 31st July 2024







DIRECTORS: Mr A G Hayward-Wright
Mrs S J Paice





REGISTERED OFFICE: 4 Clews Road
Redditch
B98 7ST





REGISTERED NUMBER: 12745202 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

BALANCE SHEET
31st July 2024

31/7/24 31/7/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 30,996 36,466
Investment property 5 1,707,084 1,293,913
1,738,080 1,330,379

CURRENT ASSETS
Debtors 6 1 1,725
Cash at bank 12,726 113,706
12,727 115,431
CREDITORS
Amounts falling due within one year 7 588,259 520,520
NET CURRENT LIABILITIES (575,532 ) (405,089 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,162,548

925,290

CREDITORS
Amounts falling due after more than one
year

8

(1,185,815

)

(950,153

)

PROVISIONS FOR LIABILITIES 10 (5,127 ) (4,824 )
NET LIABILITIES (28,394 ) (29,687 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 119,588 119,588
Retained earnings (148,082 ) (149,375 )
SHAREHOLDERS' FUNDS (28,394 ) (29,687 )

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

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

The directors acknowledge their 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.

RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

BALANCE SHEET - continued
31st July 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 Board of Directors and authorised for issue on 23rd April 2025 and were signed on its behalf by:





Mr A G Hayward-Wright - Director


RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024


1. STATUTORY INFORMATION

Ridgeway Property (Midlands) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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).

RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st August 2023
and 31st July 2024 48,114
DEPRECIATION
At 1st August 2023 11,648
Charge for year 5,470
At 31st July 2024 17,118
NET BOOK VALUE
At 31st July 2024 30,996
At 31st July 2023 36,466

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2023 1,293,913
Additions 413,171
At 31st July 2024 1,707,084
NET BOOK VALUE
At 31st July 2024 1,707,084
At 31st July 2023 1,293,913

Fair value at 31st July 2024 is represented by:
£   
Valuation in 2022 935,875
Valuation in 2023 358,038
Valuation in 2024 413,171
1,707,084

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 1 1,725

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Bank loans and overdrafts (see note 9) 3,675 3,675
Trade creditors 2,639 2,535
Other creditors 369,568 292,957
Directors' loan accounts 212,377 221,353
588,259 520,520

RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/24 31/7/23
£    £   
Bank loans (see note 9) 1,185,815 950,153

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,123,377 884,346

Repayable by instalments
Bank loans more 5 yr by instal 47,738 51,107

9. LOANS

An analysis of the maturity of loans is given below:

31/7/24 31/7/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,675 3,675

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,675 3,675

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,025 11,025

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,123,377 884,346

Repayable by instalments
Bank loans more 5 yr by instal 47,738 51,107

10. PROVISIONS FOR LIABILITIES
31/7/24 31/7/23
£    £   
Deferred tax
Accelerated capital allowances 5,889 6,929
Tax losses carried forward (40,624 ) (41,967 )
Other timing differences 39,862 39,862
5,127 4,824

Deferred
tax
£   
Balance at 1st August 2023 4,824
Provided during year 303
Balance at 31st July 2024 5,127

RIDGEWAY PROPERTY (MIDLANDS) LTD (REGISTERED NUMBER: 12745202)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/24 31/7/23
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100

12. RESERVES
Revaluation
reserve
£   
At 1st August 2023
and 31st July 2024 119,588