IRIS Accounts Production v24.2.0.383 04973672 director 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049736722022-12-31049736722023-12-31049736722023-01-012023-12-31049736722021-12-31049736722022-01-012022-12-31049736722022-12-3104973672ns15:EnglandWales2023-01-012023-12-3104973672ns14:PoundSterling2023-01-012023-12-3104973672ns10:Director12023-01-012023-12-3104973672ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104973672ns10:SmallEntities2023-01-012023-12-3104973672ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3104973672ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104973672ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104973672ns10:FullAccounts2023-01-012023-12-310497367212023-01-012023-12-3104973672ns10:OrdinaryShareClass12023-01-012023-12-3104973672ns10:RegisteredOffice2023-01-012023-12-3104973672ns5:CurrentFinancialInstruments2023-12-3104973672ns5:CurrentFinancialInstruments2022-12-3104973672ns5:Non-currentFinancialInstruments2023-12-3104973672ns5:Non-currentFinancialInstruments2022-12-3104973672ns5:ShareCapital2023-12-3104973672ns5:ShareCapital2022-12-3104973672ns5:RetainedEarningsAccumulatedLosses2023-12-3104973672ns5:RetainedEarningsAccumulatedLosses2022-12-3104973672ns5:NetGoodwill2023-01-012023-12-3104973672ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3104973672ns5:PlantMachinery2023-01-012023-12-3104973672ns5:NetGoodwill2022-12-3104973672ns5:NetGoodwill2023-12-3104973672ns5:NetGoodwill2022-12-3104973672ns5:PlantMachinery2022-12-3104973672ns5:PlantMachinery2023-12-3104973672ns5:PlantMachinery2022-12-3104973672ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104973672ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104973672ns10:OrdinaryShareClass12023-12-3104973672ns5:RetainedEarningsAccumulatedLosses2022-12-3104973672ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31049736721ns10:Director12022-12-31049736721ns10:Director12021-12-31049736721ns10:Director12023-01-012023-12-31049736721ns10:Director12022-01-012022-12-31049736721ns10:Director12023-12-31049736721ns10:Director12022-12-31
REGISTERED NUMBER: 04973672 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

BRIDGEGATE WEALTH MANAGEMENT LTD

BRIDGEGATE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 04973672)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

BRIDGEGATE WEALTH MANAGEMENT LTD

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr C R Westrope





REGISTERED OFFICE: Enterprise House
The Courtyard
Old Court House Road
Bromborough
Wirral
CH62 4UE





REGISTERED NUMBER: 04973672 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

BRIDGEGATE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 04973672)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 405,006 481,849
Tangible assets 5 46,502 64,748
451,508 546,597

CURRENT ASSETS
Debtors 6 33,240 181,128
Cash at bank 147,893 68,684
181,133 249,812
CREDITORS
Amounts falling due within one year 7 165,765 162,942
NET CURRENT ASSETS 15,368 86,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,876

633,467

CREDITORS
Amounts falling due after more than one
year

8

426,797

506,282
NET ASSETS 40,079 127,185

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 40,077 127,183
SHAREHOLDERS' FUNDS 40,079 127,185

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





Mr C R Westrope - Director


BRIDGEGATE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 04973672)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bridgegate Wealth Management Ltd 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.

Goodwill
Goodwill in relation to the acquisition of a business in 2010, and also the aquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Goodwill in relation to the capital payments for the purchase of a renewal income for a client is being amortised evenly over its estimated useful life of three years, this being the expected period over which renewal income and other sales income will be received.

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.

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 - 33% on cost and 25% on cost

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.

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.

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 8 (2022 - 8 ) .

BRIDGEGATE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 04973672)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 843,055
AMORTISATION
At 1 January 2023 361,206
Charge for year 76,843
At 31 December 2023 438,049
NET BOOK VALUE
At 31 December 2023 405,006
At 31 December 2022 481,849

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 109,090
DEPRECIATION
At 1 January 2023 44,342
Charge for year 18,246
At 31 December 2023 62,588
NET BOOK VALUE
At 31 December 2023 46,502
At 31 December 2022 64,748

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 26,640 44,528
Other debtors 6,600 136,600
33,240 181,128

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 11,136 10,749
Taxation and social security 50,959 51,253
Other creditors 93,670 90,940
165,765 162,942

BRIDGEGATE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 04973672)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 44,616 55,579
Other creditors 367,181 425,703
426,797 506,282

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 55,752 66,328

The hire purchase creditor is secured on the individual asset concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Retained
earnings
£   

At 1 January 2023 127,183
Deficit for the year (7,106 )
Dividends (80,000 )
At 31 December 2023 40,077

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr C R Westrope
Balance outstanding at start of year (5,074 ) (80,113 )
Amounts advanced 280,109 270,737
Amounts repaid (276,864 ) (195,698 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,829 ) (5,074 )

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 were paid to the director .

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C R Westrope.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Bridgegate Wealth Management Ltd (Registered number: 04973672)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bridgegate Wealth Management Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bridgegate Wealth Management Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bridgegate Wealth Management Ltd and state those matters that we have agreed to state to the director of Bridgegate Wealth Management Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridgegate Wealth Management Ltd and its director for our work or for this report.

It is your duty to ensure that Bridgegate Wealth Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bridgegate Wealth Management Ltd. You consider that Bridgegate Wealth Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bridgegate Wealth Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE


19 September 2024