Ridgeback Investments Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10387112 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

RIDGEBACK INVESTMENTS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr V Singh

Dr R Singh

Mr A Devi-King

REGISTERED OFFICE:

c/o Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

10387112 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

4

52

65

Investment property

5

1,298,218

1,298,218

1,298,270

1,298,283

CURRENT ASSETS

Debtors

1,820

1,934

Cash at bank

7,740

10,195

9,560

12,129

CREDITORS

Amounts falling due within one year

21,651

20,812

NET CURRENT LIABILITIES

(12,091

)

(8,683

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,286,179

1,289,600

CREDITORS

Amounts falling due after more than one year

1,094,000

1,134,000

NET ASSETS

192,179

155,600

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

191,179

154,600

SHAREHOLDERS' FUNDS

192,179

155,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 October 2023 and were signed on its behalf by:

Dr R Singh - Director

1.	STATUTORY INFORMATION

Ridgeback Investments Ltd 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.	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.

Turnover

Turnover represents the value of rental income chargeable in respect of the company's investment properties. Turnover is recognised evenly over the period of the rental agreement.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for financial year would have been increased by the amount of depreciation.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

250

DEPRECIATION

At 1 April 2022

185

Charge for year

13

At 31 March 2023

198

NET BOOK VALUE

At 31 March 2023

52

At 31 March 2022

65

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

1,298,218

NET BOOK VALUE

At 31 March 2023

1,298,218

At 31 March 2022

1,298,218

The investment properties were valued on a fair value basis on 31 March 2023 by the directors.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

900

Ordinary A

£1

900

900

100

Ordinary B

£1

100

100

1,000

1,000

7.	RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £1,740 (2022: £1,740) due to Singh Family Happy Homes Ltd. The companies are connected by virtue of common control and management.

Included in creditors, amounts falling due within one year, is an interest free amount of £6,265 (2022: £6,265) owed to Dr R Singh, director of the company.

Included in creditors, amounts falling due after more than one year, is an interest free amount of £1,094,000 (2022: £1,134,000) owed to Mr A Devi-King, director of the company.

8.	ULTIMATE CONTROLLING PARTY

Dr Rajendra Singh and Dr Veena Singh are considered to be the controlling party by virtue of the fact that they each own 50% of the issued voting Ordinary B share capital.