Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-122023-09-01falseNo description of principal activity1012truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02843329 2023-09-01 2024-08-31 02843329 2022-09-01 2023-08-31 02843329 2024-08-31 02843329 2023-08-31 02843329 2022-09-01 02843329 c:Director6 2023-09-01 2024-08-31 02843329 d:Buildings d:LongLeaseholdAssets 2023-09-01 2024-08-31 02843329 d:OtherPropertyPlantEquipment 2024-08-31 02843329 d:OtherPropertyPlantEquipment 2023-08-31 02843329 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02843329 d:FreeholdInvestmentProperty 2024-08-31 02843329 d:FreeholdInvestmentProperty 2023-08-31 02843329 d:CurrentFinancialInstruments 2024-08-31 02843329 d:CurrentFinancialInstruments 2023-08-31 02843329 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 02843329 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 02843329 d:ShareCapital 2024-08-31 02843329 d:ShareCapital 2023-08-31 02843329 d:RevaluationReserve 2024-08-31 02843329 d:RevaluationReserve 2023-08-31 02843329 d:RetainedEarningsAccumulatedLosses 2024-08-31 02843329 d:RetainedEarningsAccumulatedLosses 2023-08-31 02843329 c:FRS102 2023-09-01 2024-08-31 02843329 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02843329 c:FullAccounts 2023-09-01 2024-08-31 02843329 c:CompanyLimitedByGuarantee 2023-09-01 2024-08-31 02843329 d:WithinOneYear 2024-08-31 02843329 d:WithinOneYear 2023-08-31 02843329 d:BetweenOneFiveYears 2024-08-31 02843329 d:BetweenOneFiveYears 2023-08-31 02843329 d:MoreThanFiveYears 2024-08-31 02843329 d:MoreThanFiveYears 2023-08-31 02843329 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 02843329 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 02843329 d:RetirementBenefitObligationsDeferredTax 2024-08-31 02843329 d:RetirementBenefitObligationsDeferredTax 2023-08-31 02843329 d:OtherDeferredTax 2024-08-31 02843329 d:OtherDeferredTax 2023-08-31 02843329 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 02843329









RIDLEY VILLAS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
RIDLEY VILLAS LIMITED
REGISTERED NUMBER: 02843329

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
15,887
21,776

Investment property
 5 
363,000
363,000

  
378,887
384,776

Current assets
  

Debtors: amounts falling due within one year
 6 
9,894,288
10,161,766

Cash at bank and in hand
  
94,625
120,642

  
9,988,913
10,282,408

Creditors: amounts falling due within one year
 7 
(6,369,216)
(6,713,946)

Net current assets
  
 
 
3,619,697
 
 
3,568,462

Total assets less current liabilities
  
3,998,584
3,953,238

Provisions for liabilities
  

Deferred tax
 8 
(420,882)
(409,511)

Pension asset
  
1,386,000
1,396,000

Net assets
  
4,963,702
4,939,727


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
251,273
251,273

Profit and loss account
  
4,712,427
4,688,452

  
4,963,702
4,939,727


Page 1

 
RIDLEY VILLAS LIMITED
REGISTERED NUMBER: 02843329
    
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 12 form part of these financial statements.

Page 2

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

1.


General information

Ridley Villas 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 amounts invoiced during the year, exclusive of Value Added Tax.

 
2.3

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long leasehold improvements
-
Over the term of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.5

Debtors

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

Page 3

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

2.Accounting policies (continued)

 
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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Page 4

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

2.Accounting policies (continued)

  
2.10

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Defined benefit pension plan
The Company operates a defined benefits pension scheme and the pension charge is based on the latest actuarial valuation. 
The amount charged to the Statement of comprehensive income account in respect of pension costs and other post retirement benefits is the estimated regular cost of providing benefits accrued in the year, adjusted to reflect variations from that cost. The interest cost is included within other finance costs.
Actuarial gains and losses arising from new valuations and from updating valuations to the balance sheet date are recognised in the other comprehensive income. 
A pension scheme asset is recognised on the Balance sheet only to the extent that the surplus may be recovered by reduced future contributions or to the extent that the pension scheme trustees have agreed a refund from the scheme at the balance sheet date. A pension scheme liability is recognised to the extent that the company has a legal or constructive obligation to settle the liability. 

 
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 5

 
RIDLEY VILLAS 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 10 (2023 - 12).

Page 6

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

4.


Tangible fixed assets





Long leasehold improvements

£



Cost or valuation


At 1 September 2023
164,946



At 31 August 2024

164,946



Depreciation


At 1 September 2023
143,170


Charge for the year on owned assets
5,889



At 31 August 2024

149,059



Net book value



At 31 August 2024
15,887



At 31 August 2023
21,776


5.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
363,000



At 31 August 2024
363,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
35,419
35,419

Page 7

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

6.


Debtors

2024
2023
£
£


Trade debtors
40,159
22,447

Amounts owed by group undertakings
354,531
354,531

Other debtors
9,469,006
9,766,307

Prepayments and accrued income
30,592
18,481

9,894,288
10,161,766



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
42,341
52,226

Amounts owed to group undertakings
6,262,956
6,563,013

Other taxation and social security
20,917
42,506

Other creditors
6,326
8,059

Accruals and deferred income
36,676
48,142

6,369,216
6,713,946



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(409,511)
(407,558)


Credited/(charged) to profit or loss
(13,871)
15,797


Charged to other comprehensive income
2,500
(17,750)



At end of year
(420,882)
(409,511)

Page 8

 
RIDLEY VILLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
1,926
15,797

Pension surplus
(346,500)
(349,000)

Unrealised gain on revaluation of investment property
(76,308)
(76,308)

(420,882)
(409,511)

Page 9

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

9.


Pension commitments

Defined contribution pension scheme
The Company operates a Defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,858 (2023 - £7,737). Contributions totalling £872 (2023 - £1,317) were payable to the fund at the balance sheet date. 

The Company operates a Defined benefit pension scheme.

Defined benefit pension scheme
The Company also operates a Defined benefit pension scheme, which is funded.
The assets are held in a separately administered fund from those of the Company, being invested in cash and property.
The pension cost and asset for the year ended 31 August 2024 are based on the advice of a professionally qualified actuary using the projected method on the basis of triennial valuations as a minimum. The most recent formal valuation was prepared on 31 August 2024. The assumptions that have the most significant effect on the results of the valuation are those relating to the rate of return on investments and the rate of increase in pensions. It was assumed that the investment returns would be 1% - 6% per year and that present and future pensions must increase in line with the Consumer Price Index.



Reconciliation of present value of plan liabilities:


2024
2023
£
£

Reconciliation of present value of plan liabilities


At the beginning of the year
1,133,000
1,586,000

Interest cost
60,000
68,000

Actuarial (gains)/losses
54,000
(521,000)

At the end of the year
1,247,000
1,133,000


Page 10

 
RIDLEY VILLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
9.Pension commitments (continued)


Reconciliation of present value of plan assets:


2024
2023
£
£


At the beginning of the year
2,529,000
2,911,000

Interest income
134,000
125,000

Actuarial gains/(losses)
(30,000)
(507,000)

At the end of the year
2,633,000
2,529,000


Composition of plan assets:


2024
2023
£
£


Cash
101,000
113,000

Property
702,000
692,000

Loans
1,830,000
1,724,000

Total plan assets
2,633,000
2,529,000

2024
2023
£
£


Fair value of plan assets
2,633,000
2,529,000

Present value of plan liabilities
(1,247,000)
(1,133,000)

Net pension scheme asset
1,386,000
1,396,000












Page 11

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


10.


Commitments under operating leases

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
446,750
446,750

Later than 1 year and not later than 5 years
1,787,000
1,787,000

Later than 5 years
14,456,340
14,904,314

16,690,090
17,138,064


11.


Related party transactions

The Company is exempt from disclosing related party transactions with companies that are wholly owned within the Group.
At the year end the outstanding balances due from related entities in which the owners hold a participating interest in the Company are £9,501,021 
(2023 -  £9,798,323).

 
Page 12