REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
15 FEBRUARY 2024 TO 30 NOVEMBER 2024 |
FOR |
RIPE NOW PROPERTY LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
15 FEBRUARY 2024 TO 30 NOVEMBER 2024 |
FOR |
RIPE NOW PROPERTY LTD |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 15 February 2024 to 30 November 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RIPE NOW PROPERTY LTD |
COMPANY INFORMATION |
for the period 15 February 2024 to 30 November 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditor |
Highdown House |
11 Highdown Road |
Leamington Spa |
Warwickshire |
CV31 1XT |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
ABRIDGED BALANCE SHEET |
30 November 2024 |
2024 | 2024 |
as restated |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 535,854 |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
ABRIDGED BALANCE SHEET - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 15 February 2024 to 30 November 2024 |
1. | STATUTORY INFORMATION |
Ripe Now Property Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements represent the accounting period from 15 February 2024 to 30 November 2024 and will therefore not be entirely comparable with the previous accounting period. |
The reason for the shortened accounting period is to align the company with the year end of the wider group, following a reorganisation on 15 February 2024. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year. |
Going concern |
At the period end the company had net current liabilities. |
At the time of approving the financial statements, the directors have a reasonable expectation that, with continued group support, the company has adequate resources to continue in operational existence for the foreseeable future and meet its debts as they fall due. |
Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Critical accounting estimates |
The following estimates have had the most significant effect on amounts recognised in the financial statements |
Valuation of investment property |
The financial statements include an investment property held at valuation, which is a significant estimate. In order to arrive at a reliable estimate, the directors and key management may make use of professional valuers or else make their own assessments. However, significant changes to the assumptions underlying the calculations, or significant changes in market conditions could result in significant changes to the carrying value of investment property over the next financial period. |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 15 February 2024 to 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Fixtures & fittings | - |
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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. |
Financial instruments |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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 period was |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 15 February 2024 to 30 November 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 15 February 2024 |
and 30 November 2024 |
DEPRECIATION |
At 15 February 2024 |
Charge for period |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 14 February 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 15 February 2024 |
Additions |
Revaluations | 163,309 |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 14 February 2024 |
Fair value at 30 November 2024 is represented by: |
£ |
Valuation in 2024 | 163,309 |
Cost | 2,686,691 |
2,850,000 |
RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 15 February 2024 to 30 November 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2024 | 2024 |
as restated |
£ | £ |
Repayable otherwise than by instalments |
Bank loans |
Repayable by instalments |
Other loans | - | 462,348 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2024 |
as restated |
£ | £ |
Bank loans |
The bank loan is secured by way of a fixed and floating charge on the company's assets. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTROLLING INTERESTS |
The company is controlled by Goldcup Fresh Holdings Limited, which acquired 100% of the company's shares on 15 February 2024. |
Goldcup Fresh Holdings Limited is controlled by E Masias Malaga. |