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Registration number: 07924402

Bridge Medical Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Bridge Medical Solutions Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Bridge Medical Solutions Ltd

Company Information

Director

Mrs A Little

Registered office

1A Redbrook Business Park
Wilthorpe Road
Barnsley
S75 1JN

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

Bridge Medical Solutions Ltd

(Registration number: 07924402)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

13,335

14,318

Current assets

 

Debtors

4

135,878

99,237

Cash at bank and in hand

 

44,680

56,516

 

180,558

155,753

Creditors: Amounts falling due within one year

5

(48,424)

(28,422)

Net current assets

 

132,134

127,331

Total assets less current liabilities

 

145,469

141,649

Provisions for liabilities

(2,533)

(2,720)

Net assets

 

142,936

138,929

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

142,934

138,927

Shareholders' funds

 

142,936

138,929

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 June 2023
 

.........................................
Mrs A Little
Director

 

Bridge Medical Solutions Ltd

Statement of Changes in Equity for the Year Ended 31 January 2023

Share capital
£

Retained earnings
£

Total
£

At 1 February 2022

2

138,927

138,929

Profit for the year

-

4,007

4,007

At 31 January 2023

2

142,934

142,936

Share capital
£

Retained earnings
£

Total
£

At 1 February 2021

2

124,971

124,973

Profit for the year

-

24,956

24,956

Dividends

-

(11,000)

(11,000)

At 31 January 2022

2

138,927

138,929

 

Bridge Medical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

The current income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

 

Bridge Medical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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

Plant and machinery etc

- 25% on reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 33 (2022 - 30).

 

Bridge Medical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

19,634

19,634

Additions

3,105

3,105

Disposals

(1,370)

(1,370)

At 31 January 2023

21,369

21,369

Depreciation

At 1 February 2022

5,316

5,316

Charge for the year

3,964

3,964

Eliminated on disposal

(1,246)

(1,246)

At 31 January 2023

8,034

8,034

Carrying amount

At 31 January 2023

13,335

13,335

At 31 January 2022

14,318

14,318

4

Debtors

Current

2023
£

2022
£

Trade debtors

105,405

86,186

Prepayments

25,703

8,281

Other debtors

4,770

4,770

 

135,878

99,237

 

Bridge Medical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

7,400

Taxation and social security

38,874

13,366

Accruals and deferred income

2,522

2,480

Other creditors

7,028

5,176

48,424

28,422

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Related party transactions

Transactions with the director

2023

At 1 February 2022
£

Repayments by director
£

At 31 January 2023
£

Mrs A Little

No interest is charged on the loan and there is no fixed date of repayment

275

2,423

2,699