REGISTERED NUMBER: 11439888 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Ridgmont Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

K T Mann

C J Plant

M J Smith

Registered office:

4th Floor, The Warehouse

Gwynne Street

Hereford

HR4 9DP

Registered number:

11439888 (England and Wales)

Auditors:

Acre Accountancy Limited

Statutory Auditor

Certified Accountants

Unit 2 Foley Works

Foley Trading Estate

Hereford

Herefordshire

HR1 2SF

FIXED ASSETS

Tangible assets

4

1,829,074

1,855,958

Investments

5

6,723,013

6,551,758

Investment property

6

102,863

496,492

8,654,950

8,904,208

CURRENT ASSETS

Stocks

-

40,400

Debtors

7

962,713

485,847

Cash at bank and in hand

1,544,872

2,358,654

2,507,585

2,884,901

CREDITORS

Amounts falling due within one year

8

(675,426

)

(364,785

)

NET CURRENT ASSETS

1,832,159

2,520,116

TOTAL ASSETS LESS CURRENT LIABILITIES

10,487,109

11,424,324

CREDITORS

Amounts falling due after more than one year

9

(589,726

)

(884,884

)

NET ASSETS

9,897,383

10,539,440

CAPITAL AND RESERVES

Called up share capital

100

100

Merger reserve

3,330,323

3,330,323

Retained earnings

6,566,960

7,209,017

SHAREHOLDERS' FUNDS

9,897,383

10,539,440

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

M J Smith - Director

1.	STATUTORY INFORMATION

Ridgmont Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going Concern

The directors have reviewed budgets and forecasts for a period of 12 months from approval of the financial statements, considering this and the profits generated by the Company, as well as adequate resources, the directors are confident they are able to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

Staffing structures and business opportunities are continually assessed with resources flexed and deployed to support ongoing delivery.

Preparation of consolidated financial statements

The financial statements contain information about Ridgmont Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, 1NewCo Ltd, Foley Trading Estate, Hereford, HR1 2SF.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements and key sources of estimation uncertainty that the directors have made in the process of applying the company's accounting policies and that have a significant effect on the amounts recognised in the financial statements.

Valuation of stocks

Management have made judgements and assumptions when assessing the carrying value of stock. They consider that stock is appropriately held at the lower of cost and net realisable value. At each balance sheet date stocks are reviewed for impairment. If stocks are impaired the carrying value is reduced. The provision is based upon the ageing of the individual stock lines at the year end.

Investments

Management make judgements and assumptions when assessing the carrying value of investments in subsidiaries based on their knowledge of the udnertakings. They do not consider the investments to be impaired.

Turnover

Revenue is recongnised to the extent that it is probable that the economic benefits will flow to the company and can be reliably measured. Revenue is measured at 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost and 25% on cost

Investments in subsidiaries and associates

Investments in subsidiary undertakings

Investments in subsidiaries are measured at cost less accumulated impairment.

Associates and joint ventures

An entity is treated as an associated undertaking where the company exercises significant influence in that it has power to participate in the operating and financial policy decisions.Investments in Associated undertakings are measured at cost less accumulated impairment in these financial statements.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished foods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the the income statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade another debtors and creditors, loans from banks and other third parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

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 found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the reporting date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 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.

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 12 (2024 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2024

1,735,941

329,451

2,065,392

Additions

-

203,043

203,043

Disposals

-

(159,199

)

(159,199

)

At 31 March 2025

1,735,941

373,295

2,109,236

Depreciation

At 1 April 2024

90,234

119,200

209,434

Charge for year

34,808

86,062

120,870

Eliminated on disposal

-

(50,142

)

(50,142

)

At 31 March 2025

125,042

155,120

280,162

Net book value

At 31 March 2025

1,610,899

218,175

1,829,074

At 31 March 2024

1,645,707

210,251

1,855,958

The net book value of assets held under finance leases or hire purchase contracts, included in motor vehicles above, are £84,750 (2024: £109,057).

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

Other

undertakings

associate

investments

Totals

£

£

£

£

Cost

At 1 April 2024

5,953,123

258,913

339,722

6,551,758

Additions

-

125,000

160,255

285,255

Disposals

-

(114,000

)

-

(114,000

)

Reclassification/transfer

-

173,999

(173,999

)

-

At 31 March 2025

5,953,123

443,912

325,978

6,723,013

Net book value

At 31 March 2025

5,953,123

443,912

325,978

6,723,013

At 31 March 2024

5,953,123

258,913

339,722

6,551,758

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

496,492

Disposals

(393,629

)

At 31 March 2025

102,863

Net book value

At 31 March 2025

102,863

At 31 March 2024

496,492

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

382,966

4,844

Amounts owed by group undertakings

563,881

466,124

Other debtors

15,866

14,879

962,713

485,847

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

311,674

244,620

Hire purchase contracts

32,601

27,832

Trade creditors

48,298

18,931

Amounts owed to group undertakings

100

20,189

Taxation and social security

247,049

31,916

Other creditors

35,704

21,297

675,426

364,785

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

548,669

799,833

Hire purchase contracts

41,057

85,051

589,726

884,884

Amounts falling due in more than five years:

Repayable by instalments

Bank loans payable after more than 5 years by instalments

457,376

334,578

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

860,343

1,044,453

Hire purchase contracts

73,658

112,883

934,001

1,157,336

Secured loans

All monies due to or become due to the company's bank are secured by an all assets debenture dated 10 September 2010, a fixed legal charge dated 1 July 2016 and a third party guarantee dated 6 May 2014.

The bank loans are secured by an all assets debenture and third party guarantees. The loan was taken out as a mortgage against a freehold property and repayable over 18 years with an interest rate of 2.8% above the Bank of England base rate.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russell Spencer (Senior Statutory Auditor)

for and on behalf of Acre Accountancy Limited

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £125,000 (2024 - £1,650,000) were paid to the directors .

During the year transactions occurred with a subsidiary of the company. Sales were made totalling £1,656,182, with a balance outstanding at the year end of £27,863.

During the year transactions occurred with a subsidiary of the company. Sales were made totalling £49,464 with a balance outstanding at the year end of £227,016.

During the year transactions occurred with a subsidiary of the company. Sales were made totalling £34,350 with a balance outstanding at the year end of £303,440.

During the year transactions occurred with a subsidiary of the company. Sales were made totalling £164,831 (2024: £165,588), with a balance outstanding at the year end of £Nil (2024: Nil). Purchases were made totalling £Nil (2024: £73,400), with a balance owed at the year end of £Nil (2024: £13,817).

During the year transactions occurred with an associated company. Sales were made totalling £Nil (2024: £29,700), with a balance outstanding at the year end of £Nil (2024: £Nil). Purchases were made totalling £Nil (2024: £11,400), with a balance owed at the year end of £Nil (2024: £Nil).

During the year transactions occurred with a company under common control. Sales were made totalling £24,866 (2024: £Nil), with a balance outstanding at the year end of £Nil (2024: £Nil). Purchases were made totalling £76,038 (2024: £Nil), with a balance owed at the year end of £Nil (2024: £Nil).

At the year end a balance of £7,962 was owed by the parent company. 1NewCo Ltd.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K T Mann.

From 1 April 2024, the company is controlled by 1NewCo Ltd. The ultimate controlling party is still Mr K Mann by virtue of their shareholding.

The smallest group in which the results of the company are consolidated is that headed by 1NewCo Ltd. The address of 1 NewCo Ltd's registered office is Foley Trading Estate, Hereford, HR1 2SF.