Ridown Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09556734 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Ridown Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Ridge

A M Brown

REGISTERED OFFICE:

Ridown Building, Fulcrum 2

Solent Way

Fareham

Hampshire

PO15 7FN

REGISTERED NUMBER:

09556734 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Tangible assets

4

36,634

51,164

Investment property

5

2,105,348

2,105,348

2,141,982

2,156,512

CURRENT ASSETS

Debtors

6

775,426

837,335

Investments

7

16,579

16,579

Cash at bank

14,281

1,019

806,286

854,933

CREDITORS

Amounts falling due within one year

8

382,751

460,727

NET CURRENT ASSETS

423,535

394,206

TOTAL ASSETS LESS CURRENT LIABILITIES

2,565,517

2,550,718

CREDITORS

Amounts falling due after more than one year

9

1,416,000

1,463,000

NET ASSETS

1,149,517

1,087,718

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

1,149,417

1,087,618

SHAREHOLDERS' FUNDS

1,149,517

1,087,718

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 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 on 30 September 2019 and were signed on its behalf by:

A M Brown - Director

1.	STATUTORY INFORMATION

Ridown 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.

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise

indicated.

Turnover

Turnover represents net invoiced sales of services excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Computer equipment

-

33% on cost

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.

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.

Functional and presentational currencies

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 10 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2018

and 31 December 2018

20,653

81,289

6,991

108,933

DEPRECIATION

At 1 January 2018

4,445

49,348

3,976

57,769

Charge for year

1,621

10,647

2,262

14,530

At 31 December 2018

6,066

59,995

6,238

72,299

NET BOOK VALUE

At 31 December 2018

14,587

21,294

753

36,634

At 31 December 2017

16,208

31,941

3,015

51,164

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 31 December 2018

2,105,348

NET BOOK VALUE

At 31 December 2018

2,105,348

At 31 December 2017

2,105,348

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

238,798

174,207

Other debtors

536,628

663,128

775,426

837,335

7.	CURRENT ASSET INVESTMENTS

31.12.18

31.12.17

£

£

Other

16,579

16,579

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

47,000

47,000

Trade creditors

260,618

248,820

Taxation and social security

14,765

2,949

Other creditors

60,368

161,958

382,751

460,727

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans

1,416,000

1,463,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Bank loans

1,463,000

1,510,000

The bank loan is secured by way of fixed and floating charges, over the leasehold property known as Unit 2,

Fulcrum 4, Solent Way, Whiteley, in favour of Svenska Handelsbanken Ab (Publ).

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1 January 2018

1,087,618

Profit for the year

61,799

At 31 December 2018

1,149,417

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the director D Ridge owed the company £38,375 (2017: £38,375).

At the year end the director A Brown owed the company £38,375 (2017: £38,375).

14.	RELATED PARTY DISCLOSURES

During the year the Company Provided the following services to Companies in which both Mr Ridge and Mr

Brown are shareholders/directors:

Marketing & Consultancy Services

Rent

£

£

Onecom Limited

-

235,470

E-Giant Ltd

-

-

Letco

-

-

At the year end the following balance were due from/(to) companies in which Mr Ridge and Mr Brown are

directors/shareholders:

£

Ridown Group Ltd

173,977

Onecom Ltd

( 50

)

Onecom Group Ltd

195,385

Letco Ltd

2,548

E-Giant Ltd

85,764