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REGISTERED NUMBER: 12309181 (England and Wales)















BRIDGEBANK PLANT LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






BRIDGEBANK PLANT LIMITED (REGISTERED NUMBER: 12309181)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRIDGEBANK PLANT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: T P Ryan
K Adams
K J Mason





REGISTERED OFFICE: Unit 3, Sherwood Oaks Close
Sherwood Oaks Business Park
Mansfield
Nottinghamshire
NG18 4TB





REGISTERED NUMBER: 12309181 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

BRIDGEBANK PLANT LIMITED (REGISTERED NUMBER: 12309181)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,895,460 7,068,263

CURRENT ASSETS
Debtors 5 637,052 389,044
Cash at bank 521,263 215,710
1,158,315 604,754
CREDITORS
Amounts falling due within one year 6 3,516,470 2,743,858
NET CURRENT LIABILITIES (2,358,155 ) (2,139,104 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,537,305

4,929,159

CREDITORS
Amounts falling due after more than one
year

7

(3,390,976

)

(3,112,501

)

PROVISIONS FOR LIABILITIES (737,500 ) (486,386 )
NET ASSETS 1,408,829 1,330,272

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,408,729 1,330,172
1,408,829 1,330,272

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





K J Mason - Director


BRIDGEBANK PLANT LIMITED (REGISTERED NUMBER: 12309181)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Bridgebank Plant 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on cost, 25% on cost and 20% on cost

Tangible assets are initially recorded at cost, and subsequent stated at cost less any accumulated depreciation and impairment losses.

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 etc - 50% on cost, 25% on cost and 20% on costs

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BRIDGEBANK PLANT LIMITED (REGISTERED NUMBER: 12309181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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 20 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 10,086,915
Additions 3,948,133
Disposals (3,112,053 )
At 31 January 2024 10,922,995
DEPRECIATION
At 1 February 2023 3,018,652
Charge for year 1,636,466
Eliminated on disposal (1,627,583 )
At 31 January 2024 3,027,535
NET BOOK VALUE
At 31 January 2024 7,895,460
At 31 January 2023 7,068,263

Fixed assets with a net book value of £6.43m (2023: £6.15m) are held under hire purchase agreements. Depreciation charged in respect of those assets was £1.15m (2023 £916,158).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 533,024 300,072
Amounts owed by group undertakings 100 100
Other debtors 103,928 88,872
637,052 389,044

BRIDGEBANK PLANT LIMITED (REGISTERED NUMBER: 12309181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 2,068,167 1,652,877
Trade creditors 430,053 218,308
Amounts owed to group undertakings 966,838 860,000
Taxation and social security 17,228 -
Other creditors 34,184 12,673
3,516,470 2,743,858

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 3,390,976 3,112,501

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,068,167 1,652,877
Between one and five years 3,390,976 3,112,501
5,459,143 4,765,378

Non-cancellable operating leases
2024 2023
£    £   
Within one year 55,887 55,887
Between one and five years 46,573 102,460
102,460 158,347

BRIDGEBANK PLANT LIMITED (REGISTERED NUMBER: 12309181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase 6,131,806 4,765,378

The hire purchase loan is secured by a fixed charge and floating charge over all assets and property or undertaking of the company.

The hire purchase creditor is secured by of fixed and floating charges over the assets of the Company.

The amount of hire purchase debt is subject to loan discounting arrangements at 31 January 2024 was £6,131,806 (2023: 4,765,378).

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kelvin Fitton BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

11. RELATED PARTY DISCLOSURES

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.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Bridgebank Group Limited, a company incorporated in England and Wales, whose ultimate controlling party is Mr T P Ryan by virtue of 100% share ownership. The registered office is Unit 3 Sherwood Oaks Close, Sherwood Oaks Business Park, Mansfield, Nottinghamshire, NG18 4TB.

The consolidated accounts of Bridgebank Group Limited, in which the Company is included, are available to the public and may be obtained from Companies House.