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Ridgeland Associates Limited

Registered Number
03658624
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Ridgeland Associates Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

R Gunson

Registered Address

18 Shere Avenue
Cheam
Sutton
SM2 7JU

Registered Number

03658624 (England and Wales)
Ridgeland Associates Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks39,460-
Debtors49,91112,532
Cash at bank and on hand40,91949,451
60,29061,983
Creditors amounts falling due within one year5(37,618)(50,198)
Net current assets (liabilities)22,67211,785
Total assets less current liabilities22,67211,785
Creditors amounts falling due after one year6(24,000)-
Net assets(1,328)11,785
Capital and reserves
Called up share capital33
Profit and loss account(1,331)11,782
Shareholders' funds(1,328)11,785
The financial statements were approved and authorised for issue by the Director on 30 July 2025, and are signed on its behalf by:
R Gunson
Director
Registered Company No. 03658624
Ridgeland Associates Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities at 31 December 2024. The director notes that the company has been profitable in the first six months of the current financial year and that the balance sheet has returned to a net asset position. It is expected that this positive trend will continue. Operational changes implemented over the past two years have strengthened the company’s cost structure and improved its ability to respond to market opportunities. These actions have already started to yield results and are expected to support ongoing profitability and future growth. Based on the improved financial position, recent trading performance and the positive outlook, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Stocks

2024

2023

££
Finished goods9,460-
Total9,460-
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables259-
Amounts owed by associates and joint ventures / participating interests3,341-
Other debtors6,31111,034
Prepayments and accrued income-1,498
Total9,91112,532
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables32,44445,513
Bank borrowings and overdrafts497-
Amounts owed to related parties-62
Taxation and social security2,646390
Other creditors-2,734
Accrued liabilities and deferred income2,0311,499
Total37,61850,198
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Trade creditors / trade payables24,000-
Total24,000-
7.Related party transactions
At the reporting date, the director owed the company £3,341 (2023 - nil). The balance is unsecured, interest-free, and repayable on demand. It is considered a short term loan.