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REGISTERED NUMBER: 04546780 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Bridge Timber Products Limited

Bridge Timber Products Limited (Registered number: 04546780)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bridge Timber Products Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms K Uttley
P Charnley





SECRETARY: Ms K Uttley





REGISTERED OFFICE: Upperfoot
Burnley Road
Halifax
West Yorkshire
HX2 6HL





REGISTERED NUMBER: 04546780 (England and Wales)





ACCOUNTANTS: Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

Bridge Timber Products Limited (Registered number: 04546780)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 90,934 116,983

CURRENT ASSETS
Stocks 19,050 27,250
Debtors 6 939,738 1,076,491
Cash at bank 300,656 289,789
1,259,444 1,393,530
CREDITORS
Amounts falling due within one year 7 444,187 555,478
NET CURRENT ASSETS 815,257 838,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

906,191

955,035

CREDITORS
Amounts falling due after more than one
year

8

(37,536

)

(315,416

)

PROVISIONS FOR LIABILITIES (22,615 ) (29,100 )
NET ASSETS 846,040 610,519

CAPITAL AND RESERVES
Called up share capital 734 734
Capital redemption reserve 355 355
Retained earnings 844,951 609,430
SHAREHOLDERS' FUNDS 846,040 610,519

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Bridge Timber Products Limited (Registered number: 04546780)

Balance Sheet - continued
31 March 2024


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 4 October 2024 and were signed on its behalf by:





Ms K Uttley - Director


Bridge Timber Products Limited (Registered number: 04546780)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Bridge Timber Products 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 (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Bridge Timber Products Limited (Registered number: 04546780)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 247,341
Additions 2,187
Transfer to ownership (1 )
At 31 March 2024 249,527
DEPRECIATION
At 1 April 2023 130,358
Charge for year 28,235
At 31 March 2024 158,593
NET BOOK VALUE
At 31 March 2024 90,934
At 31 March 2023 116,983

Bridge Timber Products Limited (Registered number: 04546780)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 112,256
Transfer to ownership 8,504
At 31 March 2024 120,760
DEPRECIATION
At 1 April 2023 51,446
Charge for year 22,535
At 31 March 2024 73,981
NET BOOK VALUE
At 31 March 2024 46,779
At 31 March 2023 60,810

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 60,638 303,200
Amounts recoverable on contract 34,000 15,867
Other debtors 845,100 757,424
939,738 1,076,491

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 45,326 40,529
Finance leases (see note 9) 24,076 24,076
Trade creditors 239,234 254,957
Taxation and social security 117,291 170,590
Other creditors 18,260 65,326
444,187 555,478

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 7,131 260,935
Finance leases (see note 9) 30,405 54,481
37,536 315,416

Bridge Timber Products Limited (Registered number: 04546780)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 98,820

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 24,076 24,076
Between one and five years 30,405 54,481
54,481 78,557

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year - 4,167

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 52,457 301,464
Finance leases 54,481 78,557
106,938 380,021

Bank borrowings are secured by a debenture giving a fixed and floating charge over the assets of the company.

Hire purchase contracts are secured over the asset purchased.

Bridge Timber Products Limited (Registered number: 04546780)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
P Charnley
Balance outstanding at start of year 3,413 (14 )
Amounts advanced 56,839 47,522
Amounts repaid (46,562 ) (44,095 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,690 3,413

All loans with directors are interest free and repayable upon demand.

12. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by K Uttley and P Charnley by virtue of their directorships and shareholdings in Bridge Timber Holdings Ltd.