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Company registration number: 05274998
Blackbridge Communications Limited
Unaudited filleted financial statements
31 March 2023
Blackbridge Communications Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Blackbridge Communications Limited
Directors and other information
Directors Mr A Andrews
Mr F Lynch
Secretary Redford Secretarial Services Limited
Company number 05274998
Registered office 91 Commercial Street
Spitalfields
London
E1 6LY
Business address 91 Commercial Street
Spitalfields
London
E1 6LY
Accountants Redford & Co. Limited
Chartered Accountants
First Floor
64 Baker Street
London
W1U 7GB
Blackbridge Communications Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 35,596 34,526
Investments 6 1,711,429 814,315
_______ _______
1,747,025 848,841
Current assets
Stocks 14,194 1,092
Debtors 7 1,649,217 1,588,505
Cash at bank and in hand 3,036,166 1,831,593
_______ _______
4,699,577 3,421,190
Creditors: amounts falling due
within one year 8 ( 5,244,582) ( 3,523,020)
_______ _______
Net current liabilities ( 545,005) ( 101,830)
_______ _______
Total assets less current liabilities 1,202,020 747,011
_______ _______
Net assets 1,202,020 747,011
_______ _______
Capital and reserves
Called up share capital 121 121
Share premium account 71,991 71,991
Capital redemption reserve 129 129
Profit and loss account 1,129,779 674,770
_______ _______
Shareholders funds 1,202,020 747,011
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 July 2023 , and are signed on behalf of the board by:
Mr A Andrews Mr F Lynch
Director Director
Company registration number: 05274998
Blackbridge Communications Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 91 Commercial Street, Spitalfields, London, E1 6LY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of Value Added Tax.Revenue from the services is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on completion, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 33 % reducing balance
Fittings fixtures and equipment - 33 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 37 (2022: 30 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2022 87,762 5,866 93,628
Additions 22,097 1,994 24,091
Disposals ( 39,716) ( 5,461) ( 45,177)
_______ _______ _______
At 31 March 2023 70,143 2,399 72,542
_______ _______ _______
Depreciation
At 1 April 2022 54,737 4,365 59,102
Charge for the year 18,190 1,154 19,344
Disposals ( 36,470) ( 5,030) ( 41,500)
_______ _______ _______
At 31 March 2023 36,457 489 36,946
_______ _______ _______
Carrying amount
At 31 March 2023 33,686 1,910 35,596
_______ _______ _______
At 31 March 2022 33,025 1,501 34,526
_______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1 April 2022 758,054 758,054
Additions 1,055,217 1,055,217
Disposals ( 187,635) ( 187,635)
Revaluations ( 48,032) ( 48,032)
Transfers 83,845 83,845
Other movements 49,980 49,980
_______ _______
At 31 March 2023 1,711,429 1,711,429
_______ _______
Impairment
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 1,711,429 1,711,429
_______ _______
At 31 March 2022 758,054 758,054
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 1,478,085 1,409,518
Other debtors 171,132 178,987
_______ _______
1,649,217 1,588,505
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 808,023 441,694
Corporation tax 242,593 179,704
Social security and other taxes 458,563 417,760
Other creditors 3,735,403 2,483,862
_______ _______
5,244,582 3,523,020
_______ _______
9. Controlling party
The company is under the control of Blackbridge EOT Limited by virtue of its 68.8% shareholding.