REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
BRIDGE HOUSING SOLUTIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
BRIDGE HOUSING SOLUTIONS LIMITED |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Chairman's Statement | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
CHAIRMAN'S STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
I am pleased to present the annual accounts of Bridge Housing Solutions Ltd for the year ended 31st March 2024. This past year has been one of significant and positive change for our company, including a new corporate structure and further investment. |
In November 2023 Bridge Housing Solutions Ltd was acquired by Bridge Solutions Group Ltd. Our shareholders continue to be fully committed to the business, its long-term plans and, alongside the acquisition, have also invested directly into Bridge Housing Solutions Ltd to fund strategic improvements that will drive future success. |
As part of these improvements, we invested in larger premises and increased levels of staffing, alongside new but experienced management. We also continued our strategic initiatives around our technology, processes and procedures with all our partners. We are very confident all these elements will drive future growth and have already seen the benefit of this investment. |
Our focus remains to work alongside more Local Authorities to drive occupancy in more Housing Associations to deliver positive life outcomes for more families across the UK. |
Given recent business improvements we remain very optimistic about the future. The first half of FY24/25 has seen us surpass all our targets by record amounts, cementing our belief that our investment strategy within FY23/25 is correct. |
I would like to extend my thanks to our management team, employees, and partners for their commitment and contributions to our success. I am also grateful to our shareholders for their continued support and confidence in our vision. |
In conclusion, I believe that Bridge Housing Solutions Ltd is well-positioned to capitalise on the opportunities that lie ahead, and I look forward to another year of progress and achievement. |
Yours sincerely |
Iain Aitken |
Executive Chairman |
Bridge Housing Solutions Ltd |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) |
( |
) |
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. |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
BALANCE SHEET - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Bridge Housing Solutions Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The Balance Sheet on page 6 indicates that the company has net liabilities amounting to £28,211 as at 31 March 2024. The ultimate controlling party has confirmed that he will continue to support the company, and therefore the directors consider it appropriate to prepare the financial statements on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
BRIDGE HOUSING SOLUTIONS LIMITED (REGISTERED NUMBER: 08436013) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
10. | ULTIMATE CONTROLLING PARTY |
The immediate and ultimate parent company is Bridge Solutions Group Limited, a company incorporated in England and Wales, with registered office Beasley Court, 5 Warwick Place, Uxbridge, United Kingdom, UB8 1PG. |
The directors consider the ultimate controlling party to be Anthony John Ford, who is the majority shareholder of Bridge Solutions Group Limited, and who has provided loan finance to Bridge Housing Solutions Limited. |