Year Ended
Registration number:
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Balance Sheet
31 May 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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- |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Balance Sheet
31 May 2021
For the financial year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 10802303
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
United Kingdom
The principal place of business is:
10 Ringwood Road
Longham
Dorset
BH22 9AN
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the rental of stalls to stall holder tenants in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
25% reducing balance |
Computer Equipment |
33.3% straight line basis |
Equipment |
25% reducing balance |
Fixtures and fittings |
25% reducing balance |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial instruments
Classification
• Short term trade and other debtors.
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Leasehold improvements |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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Depreciation |
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At 1 June 2020 |
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Charge for the year |
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At 31 May 2021 |
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Carrying amount |
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At 31 May 2021 |
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At 31 May 2020 |
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Included within the net book value of land and buildings above is £1,770 (2020 - £2,360) in respect of short leasehold land and buildings.
Stocks |
2021 |
2020 |
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Other inventories |
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- |
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Debtors |
2021 |
2020 |
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Prepayments |
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- |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Loans and borrowings |
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- |
Corporation tax |
7,069 |
8,086 |
Social security and other taxes |
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Other creditors |
- |
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Accrued expenses |
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Creditors: amounts falling due after more than one year
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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- |
2021 |
2020 |
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Due after more than five years |
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After more than five years by instalments |
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- |
- |
- |
Bridge House Antiques Market Ltd
trading as The Bridge House Antiques Market
Notes to the Unaudited Financial Statements
Year Ended 31 May 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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Ordinary A of £1 each |
50 |
50 |
50 |
50 |
Ordinary B of £1 each |
50 |
50 |
50 |
50 |
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The shares have equal rights.
Related party transactions |
Advances to directors |
2021 |
At 1 June 2020 |
Advances to director |
Repayments by director |
At 31 May 2021 |
K Bailey |
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Loan |
(172) |
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- |
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2020 |
At 1 June 2019 |
Advances to director |
Repayments by director |
At 31 May 2020 |
K Bailey |
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Loan |
(349) |
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- |
( |