IRIS Accounts Production v25.1.0.734 11557729 Board of Directors 15.2.24 30.11.24 30.11.24 25.4.2025 false true false false true false Auditors Opinion Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh115577292024-02-14115577292024-11-30115577292024-02-152024-11-30115577292022-12-31115577292023-01-012024-02-14115577292024-02-1411557729ns15:EnglandWales2024-02-152024-11-3011557729ns14:PoundSterling2024-02-152024-11-3011557729ns10:Director12024-02-152024-11-3011557729ns10:PrivateLimitedCompanyLtd2024-02-152024-11-3011557729ns10:SmallEntities2024-02-152024-11-3011557729ns10:Audited2024-02-152024-11-3011557729ns10:SmallCompaniesRegimeForDirectorsReport2024-02-152024-11-3011557729ns10:SmallCompaniesRegimeForAccounts2024-02-152024-11-3011557729ns10:AbridgedAccounts2024-02-152024-11-3011557729ns10:Director32024-02-152024-11-3011557729ns10:Director42024-02-152024-11-3011557729ns10:RegisteredOffice2024-02-152024-11-3011557729ns5:CurrentFinancialInstruments2024-11-3011557729ns5:CurrentFinancialInstruments2024-02-1411557729ns5:Non-currentFinancialInstruments2024-11-3011557729ns5:Non-currentFinancialInstruments2024-02-1411557729ns5:ShareCapital2024-11-3011557729ns5:ShareCapital2024-02-1411557729ns5:RetainedEarningsAccumulatedLosses2024-11-301155772912024-02-152024-11-3011557729ns5:FurnitureFittings2024-02-152024-11-3011557729ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-11-3011557729ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-1411557729ns5:Secured2024-11-3011557729ns5:Secured2024-02-14
REGISTERED NUMBER: 11557729 (England and Wales)












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: R A Cullum
E Masias Malaga
L W Parkinson





REGISTERED OFFICE: Network House
Station Yard
Thame
Oxfordshire
OX9 3UH





REGISTERED NUMBER: 11557729 (England and Wales)





AUDITORS: HB&O Ltd
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 7,066 8,449
Investment property 5 2,850,000 2,672,124
2,857,066 2,680,573

CURRENT ASSETS
Debtors 7,270 4,946
Cash at bank 14,054 267
21,324 5,213
CREDITORS
Amounts falling due within one year 108,902 306,596
NET CURRENT LIABILITIES (87,578 ) (301,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,769,488

2,379,190

CREDITORS
Amounts falling due after more than one year 6 (1,200,081 ) (1,842,336 )

PROVISIONS FOR LIABILITIES (42,594 ) -
NET ASSETS 1,526,813 536,854

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,525,813 535,854
1,526,813 536,854

RIPE NOW PROPERTY LTD (REGISTERED NUMBER: 11557729)

ABRIDGED BALANCE SHEET - continued
30 November 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





R A Cullum - Director


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 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.

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 15% on cost

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 4 (2024 - 4 ) .

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 12,289
DEPRECIATION
At 15 February 2024 3,840
Charge for period 1,383
At 30 November 2024 5,223
NET BOOK VALUE
At 30 November 2024 7,066
At 14 February 2024 8,449

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 15 February 2024 2,672,124
Additions 14,567
Revaluations 163,309
At 30 November 2024 2,850,000
NET BOOK VALUE
At 30 November 2024 2,850,000
At 14 February 2024 2,672,124

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 963,110 -

Repayable by instalments
Other loans - 462,348

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2024
as restated
£    £   
Bank loans 1,250,000 -

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.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of HB&O Ltd

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.