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Registered number: 02154640
Bridge Shipping And Transport Co. Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Dial Accounts
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02154640
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 81,766 25,291
81,766 25,291
CURRENT ASSETS
Debtors 5 585,471 852,568
Cash at bank and in hand 747,264 512,367
1,332,735 1,364,935
Creditors: Amounts Falling Due Within One Year 6 (622,413 ) (711,100 )
NET CURRENT ASSETS (LIABILITIES) 710,322 653,835
TOTAL ASSETS LESS CURRENT LIABILITIES 792,088 679,126
NET ASSETS 792,088 679,126
CAPITAL AND RESERVES
Called up share capital 7 53 53
Capital redemption reserve 48 48
Profit and Loss Account 791,987 679,025
SHAREHOLDERS' FUNDS 792,088 679,126
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Leek
Director
20 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Bridge Shipping And Transport Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02154640 . The registered office is Camilla Court The Street, Nacton, Ipswich, IP10 0EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 14)
13 14
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 35,642 1,495 37,137
Additions 74,813 1,500 76,313
Disposals (16,073 ) (1,495 ) (17,568 )
As at 31 August 2024 94,382 1,500 95,882
Depreciation
As at 1 September 2023 10,775 1,071 11,846
Provided during the period 11,628 250 11,878
Disposals (8,537 ) (1,071 ) (9,608 )
As at 31 August 2024 13,866 250 14,116
Net Book Value
As at 31 August 2024 80,516 1,250 81,766
As at 1 September 2023 24,867 424 25,291
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 528,910 792,741
Prepayments and accrued income 6,086 5,106
Other debtors 3,480 4,620
Deferred tax current asset 4,103 3,171
VAT 42,892 46,930
585,471 852,568
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 403,472 487,362
Corporation tax 80,584 53,993
Other taxes and social security 12,945 14,858
Net wages 1,000 1,000
Other creditors 107,203 100,955
Pension liabilities - 1,381
Accruals and deferred income 17,209 51,551
622,413 711,100
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 53 53
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