Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-302025-05-3061false2024-01-01falseResidents property management36falsetrue 14079150 2024-01-01 2024-12-31 14079150 2024-12-31 14079150 2023-01-01 2023-12-31 14079150 2023-12-31 14079150 c:Director1 2024-01-01 2024-12-31 14079150 c:Director2 2024-01-01 2024-12-31 14079150 d:FurnitureFittings 2024-01-01 2024-12-31 14079150 d:FurnitureFittings 2024-12-31 14079150 d:FurnitureFittings 2023-12-31 14079150 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14079150 d:ComputerEquipment 2024-01-01 2024-12-31 14079150 d:ComputerEquipment 2024-12-31 14079150 d:ComputerEquipment 2023-12-31 14079150 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14079150 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14079150 d:ComputerSoftware 2024-12-31 14079150 d:ComputerSoftware 2023-12-31 14079150 d:CurrentFinancialInstruments 2024-12-31 14079150 d:CurrentFinancialInstruments 2023-12-31 14079150 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14079150 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14079150 d:ShareCapital 2024-12-31 14079150 d:ShareCapital 2023-12-31 14079150 d:SharePremium 2024-12-31 14079150 d:SharePremium 2023-12-31 14079150 d:RetainedEarningsAccumulatedLosses 2024-12-31 14079150 d:RetainedEarningsAccumulatedLosses 2023-12-31 14079150 c:OrdinaryShareClass1 2024-01-01 2024-12-31 14079150 c:OrdinaryShareClass1 2024-12-31 14079150 c:OrdinaryShareClass1 2023-12-31 14079150 c:OrdinaryShareClass2 2024-01-01 2024-12-31 14079150 c:OrdinaryShareClass2 2024-12-31 14079150 c:OrdinaryShareClass2 2023-12-31 14079150 c:FRS102 2024-01-01 2024-12-31 14079150 c:Audited 2024-01-01 2024-12-31 14079150 c:FullAccounts 2024-01-01 2024-12-31 14079150 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14079150 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14079150 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 14079150 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 14079150 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14079150


RIDGE PM LTD









INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
RIDGE PM LTD
REGISTERED NUMBER: 14079150

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
33,570
57,938

Tangible assets
 6 
14,935
18,842

  
48,505
76,780

Current assets
  

Debtors: amounts falling due within one year
 7 
51,395
227,711

Cash at bank and in hand
 8 
1,424,891
567,288

  
1,476,286
794,999

Creditors: amounts falling due within one year
 9 
(1,156,596)
(446,364)

Net current assets
  
 
 
319,690
 
 
348,635

Total assets less current liabilities
  
368,195
425,415

  

Net assets
  
368,195
425,415


Capital and reserves
  

Called up share capital 
 10 
600
400

Share premium account
  
2,399,700
1,649,900

Profit and loss account
  
(2,032,105)
(1,224,885)

  
368,195
425,415


Page 1

 
RIDGE PM LTD
REGISTERED NUMBER: 14079150
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 income and retained earnings 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 by: 




................................................
George Bossom
................................................
Duncan Walker
Director
Director
Date: 30 May 2025
Date:30 May 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private limited company which is registered and domiciled in the UK. The address of its principal place of business and registered office is Windsor House, Heritage Gate, East Point Business Park, Oxford, OX4 6LB. The company was incorporated on 29 April 2022.  The current accounting period runs from 1 January 2024 to 31 December 2024 with the prior accounting period running from 1 January 2023 to 31 December 2023.

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

Going concern

The directors have a reasonable expectation that the company has adequate financial resources to continue in operational existence for the foreseeable future. The company has letters of support from its two shareholders confirming that they will continue to provide, or arrange to provide financial support to the company, for a period of at least 12 months from date of signing of these financial statements.
 
The company has prepared cash flow forecasts and a detailed business plan covering at least a 12 month period from the date of approval of these financial statements. In preparing these forecasts, the company has considered the timeline for onboarding future properties that the company will manage and the sensitivities of property management income and expenditure. These forecasts show that the company continue to have sufficient levels of cash for the forecast period with the ongoing financial support from its shareholders.
 
Accordingly, the financial statements have been prepared on a going concern basis. 

Page 3

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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 profit or loss 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.

 
2.5

Intangible assets

Intangible assets relate to branding and IT implementation costs amortised over a considered useful life of 3 years.

All intangible assets are considered to have a useful life of 3 years.

 
2.6

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.

Page 4

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
33%
Straight-line basis
Computer equipment
-
33%
Straight-line basis

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 profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 5

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. The key sources of estimation uncertainty are in relation to depreciation and amortisation as mentioned above, however the impact of the uncertainty in these areas is not considered likely to have a material impact on the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 61 (2023 - 36).


5.


Intangible assets




Branding and IT Implementation Costs

£



Cost


At 1 January 2024
86,475


Additions
5,818



At 31 December 2024

92,293



Amortisation


At 1 January 2024
28,537


Charge for the year on owned assets
30,186



At 31 December 2024

58,723



Net book value



At 31 December 2024
33,570



At 31 December 2023
57,938



Page 6

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
8,774
24,648
33,422


Additions
2,033
8,549
10,582



At 31 December 2024

10,807
33,197
44,004



Depreciation


At 1 January 2024
3,804
10,776
14,580


Charge for the year on owned assets
3,566
10,923
14,489



At 31 December 2024

7,370
21,699
29,069



Net book value



At 31 December 2024
3,437
11,498
14,935



At 31 December 2023
4,970
13,872
18,842

Page 7

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
-
28,592

Other debtors
47,794
197,893

Prepayments and accrued income
3,601
1,226

51,395
227,711



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,424,891
567,288

1,424,891
567,288



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
45,611
5,336

Amounts owed to group undertakings
653,089
306,712

Other taxation and social security
402,013
104,820

Other creditors
16,283
2,632

Accruals and deferred income
39,600
26,864

1,156,596
446,364


Page 8

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



306 (2023 - 204) Ordinary A shares of £1.00 each
306
204
294 (2023 - 196) Ordinary B shares of £1.00 each
294
196

600

400


On the 13th September 2023 51 Ordinary A shares were issued at a premium of £4,500 per share, at the same time 49 Ordinary B shares were issued at a premium of £4,500 per share         .                                                                                                                   
On the 6th July 2024 51 Ordinary A shares were issued at a premium of £5,000 per share, at the same time 49 Ordinary B shares were issued at a premium of £5,000 per share.
On the 6th January 2025 (based upon a capital call request in December 2024) 51 Ordinary A shares were issued at a premium of £2,500 per share, at the same time 49 Ordinary B shares were issued at a premium of £2,500 per share.


11.


Pension commitments

The Company contributes into a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the provider and amounted to £13,130 (2023 - £16,244). 


12.


Related party transactions

During the period asset management fees of £160,722 (2023 - £150,000) were charged by Ridgeback Asset Management LLP, an entity under similar control to a shareholder of the company, Ridgeback Group Limited.  These fees were fully paid at the period end.
At the year end an amount of £653,089 (2023 - £306,712) was held on account on behalf of a number of fellow subsidiaries of the majority shareholder.  These balances have arisen in the normal course of business.                                                                                                                                                                      


13.


Controlling party

The immediate controlling party, by virtue of 51% shareholding, is AimCo Luxembourg S.a.r.l, a company incorporated in Luxembourg. The registered address is 11, Rue Aldringen (Le Conti), L-1118 Luxembourg.
The ultimate controlling party is Alberta Investment Management Corporation, a company incorporated in Canada.

Page 9

 
RIDGE PM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 May 2025 by Roger Weston (Senior statutory auditor) on behalf of Saffery LLP.

 
Page 10