REGISTERED NUMBER: 07890985 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Ridgemere Properties Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

27,729

36,973

Investment property

5

1,015,000

990,000

1,042,729

1,026,973

CURRENT ASSETS

Debtors

6

2,059

13,494

Cash at bank

196,959

133,568

199,018

147,062

CREDITORS

Amounts falling due within one year

7

(247,677

)

(232,346

)

NET CURRENT LIABILITIES

(48,659

)

(85,284

)

TOTAL ASSETS LESS CURRENT LIABILITIES

994,070

941,689

CREDITORS

Amounts falling due after more than one year

8

(301,170

)

(300,858

)

PROVISIONS FOR LIABILITIES

(81,796

)

(77,857

)

NET ASSETS

611,104

562,974

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

611,103

562,973

SHAREHOLDERS' FUNDS

611,104

562,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

Mr S Robinson - Director

1.	STATUTORY INFORMATION

Ridgemere Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 07890985. The registered office is Suite 2A, 7th Floor - PF City Reach, 5 Greenwich View Place, London, England, E14 9NN.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Rental income

Rental income from investment properties are recognised in the profit and loss account on a receivable basis.

Revenue recognition

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:

o the amount of revenue can be measured reliably;

o it is probable that the Company will receive the consideration due under the contract;

o the stage of completion of the contract at the end of the reporting period can be measured reliably;

and

o the costs incurred and the costs to complete the contract can be measured reliably.

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, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles : 25% on reducing balance

Computer equipment : 33% on cost

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 Profit and loss account.

Investment property

The freehold investment property is carried at fair value determined annually by the directors and derived from current market rents and investment property yields for comparable properties, adjusted if necessary for any difference in the nature, location or condition of the property. No depreciation is provided on the freehold building and changes in fair value are recognised in profit or loss.

Financial instruments

The company has entered into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans to related parties.

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 fund, an impairment loss is recognised in the profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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.

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

65,729

208

65,937

DEPRECIATION

At 1 January 2024

28,756

208

28,964

Charge for year

9,244

-

9,244

At 31 December 2024

38,000

208

38,208

NET BOOK VALUE

At 31 December 2024

27,729

-

27,729

At 31 December 2023

36,973

-

36,973

5.	INVESTMENT PROPERTY

Fair Value as at 31 December 2024 is represented by:

£

Fair value

At 1 January 2024

990,000

Additions

-

At 31 December 2024

990,000

Revaluation

At 1 January 2024

-

For the period

25,000

At 31 December 2024

25,000

Fair Value

At 31 December 2024

1,015,000

At 31 December 2023

990,000

The investment properties were valued by the director of the company based on his judgement at £1,015,000 (2023: £990,000).

31/12/2024

31/12/2023

£

£

Fair Value

1,015,000

990,000

Cost or valuation at 31 December 2024 is represented by:

£

Valuation in 2013

60,000

Valuation in 2014

50,000

Valuation in 2016

123,370

Valuation in 2017

13,000

Valuation in 2018

(8,000

)

Valuation in 2019

10,990

Valuation in 2021

35,679

Valuation in 2022

(10,584

)

Valuation in 2024

25,000

Cost

715,545

1,015,000

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Other debtors

2,059

3,003

Amounts falling due after more than one year:

Other debtors

-

10,491

Aggregate amounts

2,059

13,494

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

10,031

2,243

Other creditors

237,646

230,103

247,677

232,346

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

301,170

300,858