P.J. BRIDGMAN & COMPANY LIMITED

Company Registration Number:
01335032 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

P.J. BRIDGMAN & COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

P.J. BRIDGMAN & COMPANY LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 5,607,464 4,514,979
Total fixed assets: 5,607,464 4,514,979
Current assets
Stocks: 3,025,918 3,593,826
Debtors:   325,524 308,045
Cash at bank and in hand: 32,684 30,305
Total current assets: 3,384,126 3,932,176
Creditors: amounts falling due within one year: 4 (2,653,962) (2,811,675)
Net current assets (liabilities): 730,164 1,120,501
Total assets less current liabilities: 6,337,628 5,635,480
Creditors: amounts falling due after more than one year: 5 (151,171) (292,591)
Provision for liabilities: (847,666) (425,716)
Total net assets (liabilities): 5,338,791 4,917,173
Capital and reserves
Called up share capital: 209 209
Revaluation reserve:63,213,5882,463,175
Other reserves: 102 102
Profit and loss account: 2,124,892 2,453,687
Shareholders funds: 5,338,791 4,917,173

The notes form part of these financial statements

P.J. BRIDGMAN & COMPANY LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 April 2024
and signed on behalf of the board by:

Name: Mr P Bridgman
Status: Director

The notes form part of these financial statements

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 41 45

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 5,407,360
Additions 111,926
Disposals (172,242)
Revaluations 1,162,785
At 31 December 2023 6,509,829
Depreciation
At 01 January 2023 892,381
Charge for year 129,840
On disposals (119,856)
At 31 December 2023 902,365
Net book value
At 31 December 2023 5,607,464
At 31 December 2022 4,514,979

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

Bank loans and overdrafts £1,819,837 (2022 - £2,264,042). The bank overdraft is secured on certain of the company's freehold properties and a debenture secured on all business assets. The bank loans are secured by the UK Government under the Coronavirus Business Interruption Loan Scheme.

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due after more than one year note

Bank loans £151,171 (2022 - £292,591)

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Revaluation reserve

2023
£
Balance at 01 January 2023 2,463,175
Surplus or deficit after revaluation 750,413
Balance at 31 December 2023 3,213,588

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Financial commitments

Total future minimum payments under non-cancellable operating leases £758,092 (2022 - £831,541)

P.J. BRIDGMAN & COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Related party transactions

Name of the related party: Mr P Bridgman
Relationship:
Director and shareholder
Description of the Transaction: Amount due to Mr P Bridgman
£
Balance at 01 January 2023 45,401
Balance at 31 December 2023 60,216
Name of the related party: Mr R Bridgman
Relationship:
Director and shareholder
Description of the Transaction: Amount due to Mr R Bridgman
£
Balance at 01 January 2023 7,130
Balance at 31 December 2023 6,605

The company was party to two leases for the occupation of commercial premises owned partly by the personal pension scheme of Mr P Bridgman. The open market annual rental cost charged during the year was £73,872 (2022 - £70,601). The above transactions were conducted on an arms length, market value basis.During the year, company dividends declared to directors were £113,000 (2022 - £246,000).