Ridgewater Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08603850 (England and Wales)

RIDGEWATER ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

C A Boxall

S Drabwell

SECRETARY:

C A Boxall

REGISTERED OFFICE:

Cox Costello & Horne

Fourth & Fifth Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

REGISTERED NUMBER:

08603850 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Investments

4

105,000

105,525

CURRENT ASSETS

Debtors

5

808

24,207

Cash at bank

28,600

11,417

29,408

35,624

CREDITORS

Amounts falling due within one year

6

152,751

140,894

NET CURRENT LIABILITIES

(123,343

)

(105,270

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,343

)

255

CAPITAL AND RESERVES

Called up share capital

60

60

Retained earnings

(18,403

)

195

SHAREHOLDERS' FUNDS

(18,343

)

255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 25 September 2019 and were signed on its behalf by:

C A Boxall - Director

1.	STATUTORY INFORMATION

Ridgewater Associates 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 company meets its day-to-day working capital requirements through its bank facility. The current economic

conditions continue to create uncertainty over (a) the level of demand for the company's services; and (b) the

availability of bank finance for the foreseeable future. The company's forecasts and projections, taking account

of reasonably possible changes in trading performance, show that the company should be able to operate within

the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12

months from signing the financial statements. The company therefore continues to adopt the going concern

basis in preparing its financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied. Services represent

research, analytical and management support.Turnover 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:

- 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments - continued

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

c) Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term 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.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2018

105,525

Reclassification

(525

)

At 31 December 2018

105,000

NET BOOK VALUE

At 31 December 2018

105,000

At 31 December 2017

105,525

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

808

24,207

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

39

40

Amounts owed to participating interest

143,000

128,500

Taxation and social security

7,712

10,354

Other creditors

2,000

2,000

152,751

140,894

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

S Drabwell

Balance outstanding at start of year

23,000

2,300

Amounts advanced

-

23,000

Amounts repaid

(23,000

)

(2,300

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

23,000

Where a balance remains outstanding at the date of approval of the financial statements, the relevant "charge to

tax of loan to participator" has been applied.

Outstanding balance is unsecured, attracts interest, has no fixed terms of repayment and considered repayable

on demand.

8.	RELATED PARTY DISCLOSURES

During the reporting year, total dividends of £9,080 (2017: £11,330) were paid to the directors.

During the reporting year, total dividends of £29,080 (2017: £31,330) were paid to close family of the directors.

During the reporting year, the company provided contracted services amounting to £50,622 (2017: £92,500) to a

related party; through common directors and shareholders. At the reporting date, amount outstanding was

£143,000 (2017: £128,500). Outstanding amount is unsecured, attracts no interest, has no fixed terms of

repayment and considered repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

At the reporting date, in the opinion of the directors, there is no single ultimate controlling party. There has been

no change between the reporting date and date of approval of the financial statements.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ridgewater Associates Limited for the year ended 31 December 2018 which comprise the Profit

and loss account, Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ridgewater Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ridgewater Associates Limited and state those matters that we have agreed to state to the Board of Directors of Ridgewater Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ridgewater Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ridgewater Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ridgewater Associates Limited. You consider that Ridgewater Associates 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 financial statements of Ridgewater Associates 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 financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

25 September 2019