Ridgewood Homes Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05740007 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Ridgewood Homes Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

A J Jennings

SECRETARY:

Ms C M Jennings

REGISTERED OFFICE:

212 Longford Road

Cannock

West Midlands

WS11 1NE

REGISTERED NUMBER:

05740007 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

5

25,867

30,760

Investment property

6

80,000

80,000

105,867

110,760

CURRENT ASSETS

Stocks

93,183

93,183

Debtors

7

28,424

28,424

Cash at bank

318

1,698

121,925

123,305

CREDITORS

Amounts falling due within one year

8

(131,985

)

(131,037

)

NET CURRENT LIABILITIES

(10,060

)

(7,732

)

TOTAL ASSETS LESS CURRENT LIABILITIES

95,807

103,028

PROVISIONS FOR LIABILITIES

9

(4,735

)

(5,625

)

NET ASSETS

91,072

97,403

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

11

91,071

97,402

SHAREHOLDERS' FUNDS

91,072

97,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2021 and were signed by:

A J Jennings - Director

1.	STATUTORY INFORMATION

Ridgewood Homes 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There are no material departures from the Standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2020

and 31 December 2020

72,927

8,400

142

81,469

DEPRECIATION

At 1 January 2020

44,964

5,603

142

50,709

Charge for year

4,194

699

-

4,893

At 31 December 2020

49,158

6,302

142

55,602

NET BOOK VALUE

At 31 December 2020

23,769

2,098

-

25,867

At 31 December 2019

27,963

2,797

-

30,760

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

80,000

NET BOOK VALUE

At 31 December 2020

80,000

At 31 December 2019

80,000

Fair value at 31 December 2020 is represented by:

£

Valuation in 2018

29,389

Cost

50,611

80,000

Investment property was valued on 31 July 2018. In the opinion of the director, there has been no material change in the valuation since that date.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

28,424

28,424

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

131,985

131,037

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

4,735

5,625

Deferred

tax

£

Balance at 1 January 2020

5,625

Provided during year

(890

)

Balance at 31 December 2020

4,735

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Retained

earnings

£

At 1 January 2020

97,402

Deficit for the year

(6,331

)

At 31 December 2020

91,071

12.	RELATED PARTY DISCLOSURES

Hightown Homes Limited.

A company controlled by A J Jennings, the director of this company.

Amount owed by Hightown Homes Limited at 31 December 2020 £28,424 (2019 - £28,424).

The amount owed by Hightown Homes Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand, but the director of Ridgewood Homes Holdings Limited has given his assurance that this amount will not be demanded for payment until such time as Hightown Homes Limited can afford to do so without detriment to its operating and working capital requirements.

Ridgewood Homes Limited.

A company in which the director of this company, A J Jennings, is a director and has a shareholding.

Amount owed to Ridgewood Homes Limited at 31 December 2020 £127,500 (2019 - £125,435).

The amount owed to Ridgewood Homes Limited, is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand, but the directors of Ridgewood Homes Limited have given their assurance that this amount will not be demanded for payment until such time as Ridgewood Homes Holdings Limited can afford to do so without detriment to its operating and working capital requirements.

The following reproduces the text of the report prepared for the director 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 Director 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 Ridgewood Homes Holdings Limited for the year ended 31 December 2020 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 director of Ridgewood Homes Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ridgewood Homes Holdings Limited and state those matters that we have agreed to state to the director of Ridgewood Homes Holdings Limited 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 Ridgewood Homes Holdings Limited and its director for our work or for this report.

It is your duty to ensure that Ridgewood Homes Holdings 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 loss of Ridgewood Homes Holdings Limited. You consider that Ridgewood Homes Holdings 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 Ridgewood Homes Holdings 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.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

28 July 2021