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REGISTERED NUMBER: 08893279 (England and Wales)















Bridgwater Gas Tech Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Bridgwater Gas Tech Limited (Registered number: 08893279)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Bridgwater Gas Tech Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B C Mitchell
Mrs E M Mitchell



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 08893279 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank Plc
PO Box 1000
BX1 1LT

Bridgwater Gas Tech Limited (Registered number: 08893279)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 7,786
Tangible assets 6 10,208 8,723
10,208 16,509

CURRENT ASSETS
Stocks 3,565 5,190
Debtors 20,102 14,592
Cash at bank and in hand 31,824 23,586
55,491 43,368
CREDITORS
Amounts falling due within one year 41,228 40,555
NET CURRENT ASSETS 14,263 2,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,471

19,322

CREDITORS
Amounts falling due after more than one year (9,121 ) (5,808 )

PROVISIONS FOR LIABILITIES (2,104 ) (1,657 )
NET ASSETS 13,246 11,857

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13,146 11,757
SHAREHOLDERS' FUNDS 13,246 11,857

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.

Bridgwater Gas Tech Limited (Registered number: 08893279)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





B C Mitchell - Director


Bridgwater Gas Tech Limited (Registered number: 08893279)

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

1. STATUTORY INFORMATION

Bridgwater Gas Tech 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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 statement of financial position date.


Bridgwater Gas Tech Limited (Registered number: 08893279)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 77,824
AMORTISATION
At 1 April 2023 70,038
Amortisation for year 7,786
At 31 March 2024 77,824
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 7,786

Bridgwater Gas Tech Limited (Registered number: 08893279)

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

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 21,138
Additions 6,995
Disposals (11,252 )
At 31 March 2024 16,881
DEPRECIATION
At 1 April 2023 12,415
Charge for year 3,508
Eliminated on disposal (9,250 )
At 31 March 2024 6,673
NET BOOK VALUE
At 31 March 2024 10,208
At 31 March 2023 8,723

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 8,500
Additions 6,995
At 31 March 2024 15,495
DEPRECIATION
At 1 April 2023 2,125
Charge for year 3,343
At 31 March 2024 5,468
NET BOOK VALUE
At 31 March 2024 10,027
At 31 March 2023 6,375

Bridgwater Gas Tech Limited (Registered number: 08893279)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 12,220 7,508

The hire purchase agreements are secured over the assets to which they relate.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
B C Mitchell and Mrs E M Mitchell
Balance outstanding at start of year (6,198 ) (25,190 )
Amounts repaid (50,000 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,775 (6,198 )

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B C Mitchell.

The company was controlled throughout the current and previous year by the above director by virtue of the fact that he owns the majority of the issued share capital.