Company registration number 04633707 (England and Wales)
RIDGWAY MACHINES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
RIDGWAY MACHINES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
RIDGWAY MACHINES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
5
44,248
59,735
Tangible assets
6
415,814
546,296
460,062
606,031
Current assets
Stocks
474,623
491,341
Debtors
7
1,441,935
1,188,901
Cash at bank and in hand
1,723,518
286,082
3,640,076
1,966,324
Creditors: amounts falling due within one year
8
(3,138,154)
(1,226,834)
Net current assets
501,922
739,490
Total assets less current liabilities
961,984
1,345,521
Creditors: amounts falling due after more than one year
9
(429,907)
(874,956)
Net assets
532,077
470,565
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
531,977
470,465
Total equity
532,077
470,565

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr S A Hunt
Director
Company registration number 04633707 (England and Wales)
RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Ridgway Machines Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 28A Centurion Way, Meridian Business Park, Leicester, LE19 1WH.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Where the outcome of an engineering contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of an engineering contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

Other income

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives of 10 years.

Development costs
Over 10 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the term of the lease
Plant and equipment
15% straight line
Fixtures and fittings
15% straight line
Computers
33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each reporting date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Company contributions to defined contribution plans for the benefit of employee's are expensed as they become payable.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

i) Revenue recognition on long term contracts

Turnover is recognised when the stage of completion can be estimated reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extend that expenses recognised are recoverable.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
21
20
4
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
-
0
(44,382)
Deferred tax
Origination and reversal of timing differences
27,744
50,280
Total tax charge
27,744
5,898
RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
5
Intangible fixed assets
Other
£
Cost
At 1 April 2024
206,697
Additions
5,458
At 31 March 2025
212,155
Amortisation and impairment
At 1 April 2024
146,962
Amortisation charged for the year
20,945
At 31 March 2025
167,907
Carrying amount
At 31 March 2025
44,248
At 31 March 2024
59,735
6
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2024
194,155
771,750
15,305
72,086
1,053,296
Additions
-
0
680
-
0
-
0
680
At 31 March 2025
194,155
772,430
15,305
72,086
1,053,976
Depreciation and impairment
At 1 April 2024
55,297
375,010
10,464
66,229
507,000
Depreciation charged in the year
19,415
104,297
1,593
5,857
131,162
At 31 March 2025
74,712
479,307
12,057
72,086
638,162
Carrying amount
At 31 March 2025
119,443
293,123
3,248
-
0
415,814
At 31 March 2024
138,858
396,740
4,841
5,857
546,296
RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
186,935
162,555
Gross amounts owed by contract customers
747,490
713,693
Other debtors
98,159
149,559
Prepayments and accrued income
252,778
89,271
1,285,362
1,115,078
Deferred tax asset (note 10)
46,079
73,823
1,331,441
1,188,901
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
110,494
-
0
Total debtors
1,441,935
1,188,901
8
Creditors: amounts falling due within one year
2025
2024
£
£
Other borrowings
173,849
261,466
Payments received on account
1,459,690
187,666
Trade creditors
1,015,699
482,157
Taxation and social security
36,760
34,126
Other creditors
329,680
164,840
Accruals and deferred income
122,476
96,579
3,138,154
1,226,834

Other creditors include £329,680 (2024: £164,840) relating to the settlement of certain historic tax planning. Interest accrues at 9% on this balance and is charged to the profit and loss account in the period to which it relates.

RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
9
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
-
0
157,031
Other creditors
429,907
717,925
429,907
874,956

Other creditors include £429,907 (2024: £717,925) relating to the settlement of certain historic tax planning. Interest accrues at 9% on this balance and is charged to the profit and loss account in the period to which it relates.

10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Accelerated capital allowances
(114,571)
(151,035)
Tax losses
160,650
224,858
46,079
73,823
2025
Movements in the year:
£
Asset at 1 April 2024
(73,823)
Charge to profit or loss
27,744
Asset at 31 March 2025
(46,079)

The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

RIDGWAY MACHINES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
11
Audit report information
(Continued)
- 10 -
Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Thomas Mayfield BA FCA
Statutory Auditor:
Mayfield & Co.
Date of audit report:
28 August 2025
12
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within 1 year
277,023
277,403
Years 2-5
1,105,734
1,106,520
After 5 years
207,178
483,415
Total commitments
1,589,935
1,867,338
13
Directors' transactions

Dividends totalling £0 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

Loans
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors Loan Account
-
-
10,000
(3,000)
7,000
-
10,000
(3,000)
7,000
14
Prior period adjustment

The prior period has been restated by reducing closing stock by £48,368, and deferred tax by £15,490. The net effect on the profit was a reduction of £32,878.

2025-03-312024-04-01falsefalsefalse28 August 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityMr B LoweMr A P GlanvilleMr A G ClarkeMr A HartMr S A Hunt046337072024-04-012025-03-31046337072025-03-31046337072024-03-3104633707core:IntangibleAssetsOtherThanGoodwill2025-03-3104633707core:IntangibleAssetsOtherThanGoodwill2024-03-3104633707core:LandBuildingscore:LeasedAssetsHeldAsLessee2025-03-3104633707core:PlantMachinery2025-03-3104633707core:FurnitureFittings2025-03-3104633707core:ComputerEquipment2025-03-3104633707core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-03-3104633707core:PlantMachinery2024-03-3104633707core:FurnitureFittings2024-03-3104633707core:ComputerEquipment2024-03-3104633707core:ShareCapital2025-03-3104633707core:ShareCapital2024-03-3104633707core:RetainedEarningsAccumulatedLosses2025-03-3104633707core:RetainedEarningsAccumulatedLosses2024-03-3104633707bus:Director52024-04-012025-03-3104633707core:IntangibleAssetsOtherThanGoodwill2024-04-012025-03-3104633707core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-04-012025-03-3104633707core:LandBuildingscore:LongLeaseholdAssets2024-04-012025-03-3104633707core:PlantMachinery2024-04-012025-03-3104633707core:FurnitureFittings2024-04-012025-03-3104633707core:ComputerEquipment2024-04-012025-03-31046337072023-04-012024-03-3104633707core:UKTax2024-04-012025-03-3104633707core:UKTax2023-04-012024-03-3104633707core:IntangibleAssetsOtherThanGoodwill2024-03-3104633707core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-03-3104633707core:PlantMachinery2024-03-3104633707core:FurnitureFittings2024-03-3104633707core:ComputerEquipment2024-03-31046337072024-03-3104633707core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-04-012025-03-3104633707core:CurrentFinancialInstruments2025-03-3104633707core:CurrentFinancialInstruments2024-03-3104633707core:Non-currentFinancialInstruments2025-03-3104633707core:Non-currentFinancialInstruments2024-03-3104633707core:Non-currentFinancialInstruments12025-03-3104633707core:Non-currentFinancialInstruments12024-03-3104633707core:WithinOneYear2025-03-3104633707core:WithinOneYear2024-03-3104633707core:BetweenTwoFiveYears2025-03-3104633707core:BetweenTwoFiveYears2024-03-3104633707core:MoreThanFiveYears2025-03-3104633707core:MoreThanFiveYears2024-03-3104633707bus:PrivateLimitedCompanyLtd2024-04-012025-03-3104633707bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-3104633707bus:FRS1022024-04-012025-03-3104633707bus:Audited2024-04-012025-03-3104633707bus:Director12024-04-012025-03-3104633707bus:Director22024-04-012025-03-3104633707bus:Director32024-04-012025-03-3104633707bus:Director42024-04-012025-03-3104633707bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP