Company Registration No. 07942539 (England and Wales)
BRIDGE & CO PRIVATE FINANCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2019
PAGES FOR FILING WITH REGISTRAR
BRIDGE & CO PRIVATE FINANCE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BRIDGE & CO PRIVATE FINANCE LTD
BALANCE SHEET
AS AT 31 MAY 2019
31 May 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,885
3,000
Investments
4
149,103
149,103
150,988
152,103
Current assets
Debtors
5
3,585
180,013
Cash at bank and in hand
148
231
3,733
180,244
Creditors: amounts falling due within one year
6
(26,092)
(42,346)
Net current (liabilities)/assets
(22,359)
137,898
Total assets less current liabilities
128,629
290,001
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
128,529
289,901
Total equity
128,629
290,001
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 May 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 February 2020 and are signed on its behalf by:
Mrs C Cabourn
Director
Company Registration No. 07942539
BRIDGE & CO PRIVATE FINANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2019
- 2 -
1
Accounting policies
Company information
Bridge & Co Private Finance Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Greys Building, 53 Grey Street, Newcastle upon Tyne, NE1 6EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents commissions receivable for services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
Fixtures and fittings
20% reducing balance
Computers
20% on cost
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
BRIDGE & CO PRIVATE FINANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2019
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposed. The deferred tax balance has not been discounted.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2018 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2018 and 31 May 2019
7,427
Depreciation and impairment
At 1 March 2018
4,427
Depreciation charged in the period
1,115
At 31 May 2019
5,542
Carrying amount
At 31 May 2019
1,885
At 28 February 2018
3,000
4
Fixed asset investments
2019
2018
£
£
Investments
149,103
149,103
Fixed asset investments not carried at market value
Unlisted investments are valued at cost, as there is no ready open market valuations available with which to measure them with sufficient accuracy.
BRIDGE & CO PRIVATE FINANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2019
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 March 2018 & 31 May 2019
149,103
Carrying amount
At 31 May 2019
149,103
At 28 February 2018
149,103
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
3,585
180,013
6
Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
-
10,692
Other creditors
25,492
29,806
Accruals and deferred income
600
1,848
26,092
42,346
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100