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REGISTERED NUMBER: 01911501 (England and Wales)















BRIDGES POUND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






BRIDGES POUND LIMITED (REGISTERED NUMBER: 01911501)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRIDGES POUND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr S Heaton
Mr D J Rafferty





REGISTERED OFFICE: Bridge House
141 Albany Road
Coventry
CV5 6ND





REGISTERED NUMBER: 01911501 (England and Wales)





ACCOUNTANTS: Burrows Scarborough
Sovereign House
12 Warwick Street
Coventry
West Midlands
CV5 6ET

BRIDGES POUND LIMITED (REGISTERED NUMBER: 01911501)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,580 3,380
Tangible assets 5 22,459 21,307
24,039 24,687

CURRENT ASSETS
Debtors 6 674,545 694,902
Prepayments and accrued income 59,770 72,843
Cash at bank and in hand 336 86,992
734,651 854,737
CREDITORS
Amounts falling due within one year 7 337,232 233,087
NET CURRENT ASSETS 397,419 621,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,458

646,337

PROVISIONS FOR LIABILITIES (5,927 ) (4,917 )

ACCRUALS AND DEFERRED INCOME (5,659 ) (81,300 )
NET ASSETS 409,872 560,120

CAPITAL AND RESERVES
Called up share capital 1,050 1,050
Capital redemption reserve 150 150
Retained earnings 408,672 558,920
SHAREHOLDERS' FUNDS 409,872 560,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:



Mr S Heaton - Director


BRIDGES POUND LIMITED (REGISTERED NUMBER: 01911501)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Bridges Pound Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


These financial statements are rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover and other income
Turnover is recongnised at the fair value of the consideration receivable for services provided in the normal course of business and is shown net of VAT.

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures, fittings and equipment 15% reducing balance
Computer equipment 33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds are the carrying value of the asset and is credited or charged to the profit or loss.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.


BRIDGES POUND LIMITED (REGISTERED NUMBER: 01911501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdraft. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 9,080
AMORTISATION
At 1 June 2022 5,700
Charge for year 1,800
At 31 May 2023 7,500
NET BOOK VALUE
At 31 May 2023 1,580
At 31 May 2022 3,380

BRIDGES POUND LIMITED (REGISTERED NUMBER: 01911501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 June 2022 35,245 59,001 94,246
Additions - 8,249 8,249
At 31 May 2023 35,245 67,250 102,495
DEPRECIATION
At 1 June 2022 30,005 42,934 72,939
Charge for year 792 6,305 7,097
At 31 May 2023 30,797 49,239 80,036
NET BOOK VALUE
At 31 May 2023 4,448 18,011 22,459
At 31 May 2022 5,240 16,067 21,307

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 378,196 413,366
Provision for bad debts (24,591 ) (46,388 )
Amounts owed by group undertakings 144,030 136,861
Amounts recoverable on contract 176,910 191,063
674,545 694,902

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,863 60,000
Trade creditors 70,744 36,497
Amounts owed to group undertakings 15,210 12,147
Taxation - 16,164
Paye 23,881 28,575
VAT 89,146 58,017
Other creditors 5,521 6,944
Directors' current accounts 87,867 14,743
337,232 233,087

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 44,863 -
Bank loans - 60,000
44,863 60,000

BRIDGES POUND LIMITED (REGISTERED NUMBER: 01911501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

9. LEASES

At the reporting date the company had outstanding commitments for the future minimum lease payments under non-cancellable operating leases as follows:

20232022
£ £
130,591220,025