ACCOUNTS - Final Accounts preparation

RIDGE BIRMINGHAM TC LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312024-05-31false42023-02-28Other letting and operating of own or leased real estatefalsetrue 14694059 2023-02-27 14694059 2023-02-28 2023-12-31 14694059 2022-10-01 2023-02-27 14694059 2023-12-31 14694059 c:Director1 2023-02-28 2023-12-31 14694059 c:Director2 2023-02-28 2023-12-31 14694059 d:CurrentFinancialInstruments 2023-12-31 14694059 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14694059 d:ShareCapital 2023-12-31 14694059 d:RetainedEarningsAccumulatedLosses 2023-12-31 14694059 c:FRS102 2023-02-28 2023-12-31 14694059 c:Audited 2023-02-28 2023-12-31 14694059 c:FullAccounts 2023-02-28 2023-12-31 14694059 c:PrivateLimitedCompanyLtd 2023-02-28 2023-12-31 14694059 c:SmallCompaniesRegimeForAccounts 2023-02-28 2023-12-31 14694059 2 2023-02-28 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14694059

RIDGE BIRMINGHAM TC LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

RIDGE BIRMINGHAM TC LIMITED

REGISTERED NUMBER: 14694059

BALANCE SHEET

AS AT 31 DECEMBER 2023

		2023
Note		£


Current assets
Debtors: amounts falling due within one year	37,071
Cash at bank and in hand	556,606
	593,677
Creditors: amounts falling due within one year	(520,381)
Net current assets		73,296
Total assets less current liabilities		73,296

Net assets		73,296

Capital and reserves
Called up share capital			1
Profit and loss account			73,295
			73,296

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 May 2024.

Antoine Feryn	Rupert Wingfield
Director	Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

RIDGE BIRMINGHAM TC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

1.	General information

The company is a private limited company which is registered and domiciled in the UK. The address of its prinicipal place of business and registered office is Cannon Place, 78 Cannon Street, London, EC4N 6AF. The company was incorporated on 28 February 2023.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have a reasonable expectation that the company has adequate financial resources to continue in operational existence for a period of at least 12 months from date of signing of these financial statements.

The company has prepared cash flow forecasts and a detailed business plan covering at least a 12 month period from the date of approval of these financial statements. These forecasts show that the company will continue to have sufficient levels of cash for the forecast period.

Accordingly, the financial statements have been prepared on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

Rental and other property related income

Revenue from an agreement to provide rental and other property related income is recognised in the period in which the services are provided in accordance with 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 agreement;

∙the stage of completion of the agreement at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the agreement can be measured reliably.

Page 2

RIDGE BIRMINGHAM TC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss on an arising basis.

2.5

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.

2.6

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.

2.7

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.

2.8

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			2023
			No.

		Employees	4

Debtors

					2023
					£

Page 3

RIDGE BIRMINGHAM TC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

4.Debtors (continued)

	Trade debtors	21,313
	Amounts owed by group undertakings	1
	Prepayments and accrued income	15,757
		37,071

5.	Cash and cash equivalents
		2023
		£

	Cash at bank and in hand	556,606
		556,606

6.	Creditors: Amounts falling due within one year
		2023
		£

	Payments received on account	222,868
	Trade creditors	107
	Amounts owed to group undertakings	94,292
	Accruals and deferred income	203,114
		520,381

7.	Contingent liabilities

The company has made a negative pledge to discharge secured liabilities of it's parent company, in the event of default, that subsist in Ridge Birmingham Sarl. The pledge is secured by way of a fixed and floating charge over the assets of the company in favour of Situs Asset Management Limited as Security Trustee.

8.	Commitments under operating leases

The company has a long lease running until 22 April 2048. Under the terms of this lease the company will make regular payments in respect of (a) turnover rent payable in accordance with certain prescribed conditions of the lease, (b) insurance rent recieved and (c) interest receivable.

Page 4

RIDGE BIRMINGHAM TC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

9.	Related party transactions
	During the period rent was payable to Ridge Birmingham Sarl, the parent company, amounting to £544,292. The balance outstanding at the year end was £94,292. During the period asset management fees of £40,720 were charged by Ridge PM Limited, a company under common control. The amount outstanding at the year end was £40,720.

10.	Controlling party

The immediate controlling party, by virtue of 100% shareholding, is Ridge Birmingham Sarl, a company incorporated in Luxembourg. The registered address is 11, Rue Aldringen (Le Conti), L-1118 Luxembourg.
The ultimate controlling party is Alberta Investment Management Corporation, a company incorporated in Canada.

11.	Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 4 June 2024 by Roger Weston (Senior statutory auditor) on behalf of Saffery LLP.

Page 5