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Registered number: 07560156









RIDLEY VILLAS HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
RIDLEY VILLAS HOLDINGS LIMITED
REGISTERED NUMBER: 07560156

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
18,577,004
16,772,468

Investments
 5 
9,261,851
9,561,908

  
27,838,855
26,334,376

Current assets
  

Debtors: amounts falling due within one year
 6 
193,761
217,250

Cash at bank and in hand
  
5
48

  
193,766
217,298

Creditors: amounts falling due within one year
 7 
(9,668,520)
(7,587,225)

Net current liabilities
  
 
 
(9,474,754)
 
 
(7,369,927)

Total assets less current liabilities
  
18,364,101
18,964,449

  

Creditors: amounts falling due after more than one year
 8 
(100)
(100)

  
18,364,001
18,964,349

Provisions for liabilities
  

Deferred taxation
 9 
(2,406,589)
(2,534,774)

  

Net assets
  
15,957,412
16,429,575


Capital and reserves
  

Called up share capital 
  
195,013
195,013

Share premium account
  
5,929,832
5,929,832

Revaluation reserve
  
8,182,420
8,182,420

Profit and loss account
  
1,650,147
2,122,310

  
15,957,412
16,429,575


Page 1

 
RIDLEY VILLAS HOLDINGS LIMITED
REGISTERED NUMBER: 07560156
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income 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 on 12 May 2025.




C Spires
Director


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Ridley Villas Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is First Floor, Kirkdale House, Kirkdale Road, Leytonstone, London, E11 1HP.

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

Revenue

Revenue represents rental income receivable by the Company under the lease agreement and is recognised on the date when rent is due. 

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the statement of comprehensive income.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

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

 
2.6

Cash and cash equivalents

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

Page 3

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Operating leases: the Company as lessor

Rental income from operating leases is credited to the statement of comprehensive income on a straight-line basis over the lease term.

 
2.10

Borrowing costs

All borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.

 
2.11

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 the statement of comprehensive income.

Page 4

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.12

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Freehold properties

£



Cost or valuation


At 1 September 2023
16,772,468


Additions
1,804,536



At 31 August 2024

18,577,004






Net book value



At 31 August 2024
18,577,004



At 31 August 2023
16,772,468

The 2024 valuations were made internally by an employee of the Group, who is MRICS (Member of Royal Institute of Chartered Surveyors), on an open market value for existing use basis.
The historic cost of the properties were £7,829,449 
(2023 - £6,024,913).

Page 6

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Fixed asset investments





Investments in subsidiary companies
Loans to subsidiaries
Total

£
£
£



Cost or valuation


At 1 September 2023
2,998,895
6,563,013
9,561,908


Disposals
-
(300,057)
(300,057)



At 31 August 2024

2,998,895
6,262,956
9,261,851






Net book value



At 31 August 2024
2,998,895
6,262,956
9,261,851



At 31 August 2023
2,998,895
6,563,013
9,561,908


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

Ridley Villas Limited
Property rental business
Ordinary
100%
Ridley Villas (London) Limited
Property rental business
Ordinary
100%


6.


Debtors

2024
2023
£
£


Other debtors
193,761
217,250


Page 7

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,497,013
7,504,992

Trade creditors
240
6,823

Amounts owed to group undertakings
1,800
1,800

Other taxation and social security
6,145
-

Other creditors
160,077
70,460

Accruals and deferred income
3,245
3,150

9,668,520
7,587,225



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
100
100


Secured loans
A mortgage debenture from Ridley Villas Holdings Limited is held by the bank over all the assets of the Company. 

Page 8

 
RIDLEY VILLAS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
(2,534,774)
(2,565,134)


Credited to the profit or loss
128,185
30,360



At end of year
(2,406,589)
(2,534,774)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(168,000)
(93,186)

Tax losses carried forward
326,545
123,546

Unrealised gain on revaluation of freehold properties
(2,565,134)
(2,565,134)

(2,406,589)
(2,534,774)


10.


Related party transactions

The Company is exempt from disclosing related party transactions with companies that are wholly owned within the Group.
Included within other debtors is an amount of £193,760
 (2023 - £193,760) due from related entities in which the owners hold a participating interest.


11.


Post balance sheet events

Post year end and prior to the balance sheet being signed, properties of cost £1.75m were sold for sales proceeds of £4.75m. 

 
Page 9