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Registration number: 05273799

Ripple Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Ripple Engineering Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Ripple Engineering Limited

Company Information

Directors

Mr David Wolfenden

Mr Scott Harrop

Mr Daniel Wolfenden

Mr Matthew Wolfenden

Ms Hannah Wolfenden

Registered office

Hope Mill
Greenacres Road
Oldham
Lancashire
OL4 2AB

Accountants

Williamson Croft Accountants Limited
Chartered Certified AccountantsYork House
Manchester
England
M2 3BB

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ripple Engineering Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ripple Engineering Limited for the year ended 31 December 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Ripple Engineering Limited, as a body, in accordance with the terms of our engagement letter dated 31 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Ripple Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Ripple Engineering Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ripple Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ripple Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ripple Engineering Limited. You consider that Ripple Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ripple Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
Manchester
England
M2 3BB

20 August 2025

 

Ripple Engineering Limited

(Registration number: 05273799)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

428,666

488,350

Current assets

 

Stocks

5

105,391

82,774

Debtors

6

210,362

317,806

Cash at bank and in hand

 

10,041

14,843

 

325,794

415,423

Creditors: Amounts falling due within one year

7

(349,444)

(525,660)

Net current liabilities

 

(23,650)

(110,237)

Total assets less current liabilities

 

405,016

378,113

Provisions for liabilities

(107,166)

(122,000)

Net assets

 

297,850

256,113

Capital and reserves

 

Called up share capital

8

3

3

Revaluation reserve

-

142,000

Retained earnings

297,847

114,110

Shareholders' funds

 

297,850

256,113

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 20 August 2025 and signed on its behalf by:
 

.........................................
Mr David Wolfenden
Director

 

Ripple Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hope Mill
Greenacres Road
Oldham
Lancashire
OL4 2AB

These financial statements were authorised for issue by the Board on 20 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ripple Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% Reducing balance

Plant and machinery

15% Reducing balance

Motor vehicles

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ripple Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

Ripple Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

31,691

15,285

1,004,273

1,051,249

Additions

-

-

18,063

18,063

Disposals

(3,920)

-

(417,883)

(421,803)

At 31 December 2024

27,771

15,285

604,453

647,509

Depreciation

At 1 January 2024

8,949

2,749

551,201

562,899

Charge for the year

3,411

2,289

68,861

74,561

Eliminated on disposal

(3,732)

-

(414,885)

(418,617)

At 31 December 2024

8,628

5,038

205,177

218,843

Carrying amount

At 31 December 2024

19,143

10,247

399,276

428,666

At 31 December 2023

22,741

12,536

453,073

488,350

5

Stocks

2024
£

2023
£

Work in progress

45,643

24,396

Other inventories

59,748

58,378

105,391

82,774

6

Debtors

2024
£

2023
£

Trade debtors

188,703

312,746

Prepayments

6,111

5,060

Other debtors

15,548

-

 

210,362

317,806

 

Ripple Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

68,672

156,706

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

217,942

255,197

Taxation and social security

 

40,681

108,451

Accruals and deferred income

 

16,344

4,710

Other creditors

 

5,805

596

 

349,444

525,660

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

3

3

3

3

       

9

Related party transactions

The company has taken advantage of the exemption conferred by Section 1A of FRS 102 not to disclose transactions with wholly owned members of the group headed by Ripple Group Ltd.

10

Parent and ultimate parent undertaking

The company's immediate parent is Ripple Group Limited, incorporated in England and Wales.