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Registered number: 02282358











BESPOKE BRIDGING FINANCE LIMITED
 
FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 30 SEPTEMBER 2021

 
BESPOKE BRIDGING FINANCE LIMITED
 

COMPANY INFORMATION


DIRECTOR
L. A. Selbo 




COMPANY SECRETARIES
R. S. Brand
T. Selbo
B. H. Company Secretarial Services


REGISTERED NUMBER
02282358



REGISTERED OFFICE
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BN





 
BESPOKE BRIDGING FINANCE LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
BESPOKE BRIDGING FINANCE LIMITED
REGISTERED NUMBER: 02282358

BALANCE SHEET
AS AT 30 SEPTEMBER 2021

2021
2020
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,569
335

Investments
 5 
1,080
1,080

  
2,649
1,415

CURRENT ASSETS
  

Debtors
 6 
397,712
452,089

Cash at bank and in hand
  
27,151
3,920

  
424,863
456,009

Creditors: amounts falling due within one year
 7 
(212,893)
(256,192)

NET CURRENT ASSETS
  
 
 
211,970
 
 
199,817

Creditors: amounts falling due after more than one year
 8 
(37,500)
(47,500)

  

NET ASSETS
  
177,119
153,732


CAPITAL AND RESERVES
  

Allotted, called up and fully paid share capital
  
3
3

Profit and loss account
  
177,116
153,729

EQUITY SHAREHOLDER'S FUNDS
  
177,119
153,732


Page 1

 
BESPOKE BRIDGING FINANCE LIMITED
REGISTERED NUMBER: 02282358

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 Director's Report and Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 
2 September 2022.




L. A. Selbo
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BESPOKE BRIDGING FINANCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.


GENERAL INFORMATION

Bespoke Bridging Finance Limited (Company number: 02282358), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales.
The Company's principal place of business is 50 London House, 7-9 Avenue Road, St Johns Wood, NW8 7PX.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

TURNOVER

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

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BESPOKE BRIDGING FINANCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% straight-line
Office equipment
-
33.33% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, 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. 

Page 4

 
BESPOKE BRIDGING FINANCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

TAXATION

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the United Kingdom where the Company operates and generates income.

 
2.11

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.12

BORROWING COSTS

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

Page 5

 
BESPOKE BRIDGING FINANCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).


4.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Office equipment
Total

£
£
£



COST


At 1 October 2020
1,643
6,094
7,737


Additions
-
4,898
4,898



At 30 September 2021

1,643
10,992
12,635



DEPRECIATION


At 1 October 2020
1,643
5,759
7,402


Charge for the year
-
3,664
3,664



At 30 September 2021

1,643
9,423
11,066



NET BOOK VALUE



At 30 September 2021
-
1,569
1,569



At 30 September 2020
-
335
335


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 October 2020 and 30 September 2021
1,080




Page 6

 
BESPOKE BRIDGING FINANCE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

6.


DEBTORS

2021
2020
£
£

Due within one year

Amounts owed by group undertakings
192,825
169,622

Other debtors
204,887
282,467

397,712
452,089



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021
2020
£
£

Bank loans
12,500
2,500

Other creditors
136,516
198,793

Accruals and deferred income
63,877
54,899

212,893
256,192



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021
2020
£
£

Bank loans
37,500
47,500



9.


TRANSACTIONS WITH DIRECTORS

Included within other debtors are amounts payable from L. A. Selbo, a director of the Company, of £113,085 (2020: £282,467). There are no repayment terms on the loan.


10.


RELATED PARTY TRANSACTIONS

Included within amounts owed by group undertakings are amounts due from a company in which Bespoke Bridging Finance Limited holds a participating interest of £192,825 (2020: £169,622).


Page 7