Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity3231truetruefalse 09472965 2023-04-01 2024-03-31 09472965 2022-04-01 2023-03-31 09472965 2024-03-31 09472965 2023-03-31 09472965 c:Director1 2023-04-01 2024-03-31 09472965 d:FurnitureFittings 2023-04-01 2024-03-31 09472965 d:FurnitureFittings 2024-03-31 09472965 d:FurnitureFittings 2023-03-31 09472965 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09472965 d:OfficeEquipment 2023-04-01 2024-03-31 09472965 d:OfficeEquipment 2024-03-31 09472965 d:OfficeEquipment 2023-03-31 09472965 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09472965 d:ComputerEquipment 2023-04-01 2024-03-31 09472965 d:ComputerEquipment 2024-03-31 09472965 d:ComputerEquipment 2023-03-31 09472965 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09472965 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09472965 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 09472965 d:FreeholdInvestmentProperty 2024-03-31 09472965 d:CurrentFinancialInstruments 2024-03-31 09472965 d:CurrentFinancialInstruments 2023-03-31 09472965 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09472965 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09472965 d:ShareCapital 2024-03-31 09472965 d:ShareCapital 2023-03-31 09472965 d:RetainedEarningsAccumulatedLosses 2024-03-31 09472965 d:RetainedEarningsAccumulatedLosses 2023-03-31 09472965 c:FRS102 2023-04-01 2024-03-31 09472965 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09472965 c:FullAccounts 2023-04-01 2024-03-31 09472965 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09472965 2 2023-04-01 2024-03-31 09472965 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09472965










Bridgewater Care Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Bridgewater Care Ltd
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Bridgewater Care Ltd for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bridgewater Care Ltd for the year ended 31 March 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the director of Bridgewater Care Ltd in accordance with the terms of our engagement letter dated 10 August 2023Our work has been undertaken solely to prepare for your approval the financial statements of Bridgewater Care Ltd and state those matters that we have agreed to state to the director of Bridgewater Care Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridgewater Care Ltd and its director for our work or for this report. 

It is your duty to ensure that Bridgewater Care 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 profit of Bridgewater Care Ltd. You consider that Bridgewater Care Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Bridgewater Care 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.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
17 September 2024
Page 1

 
Bridgewater Care Ltd
Registered number: 09472965

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,880
924

Investment property
 5 
351,835
-

  
355,715
924

Current assets
  

Debtors: amounts falling due within one year
 6 
136,542
108,152

Cash at bank and in hand
  
442,758
617,853

  
579,300
726,005

Creditors: amounts falling due within one year
 7 
(157,896)
(71,253)

Net current assets
  
 
 
421,404
 
 
654,752

Total assets less current liabilities
  
777,119
655,676

  

Net assets
  
777,119
655,676


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
777,118
655,675

  
777,119
655,676


Page 2

 
Bridgewater Care Ltd
Registered number: 09472965

Balance sheet (continued)
As at 31 March 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



S Rutter
Director

Date: 17 September 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
Bridgewater Care Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales.
The registered office address is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
Bridgewater Care Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
17%
straight line
Office equipment
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market prices for comparable real estate. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
Bridgewater Care Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
Bridgewater Care Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 32 (2023 - 31).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
-
1,974
5,435
7,409


Additions
2,998
-
1,219
4,217



At 31 March 2024

2,998
1,974
6,654
11,626



Depreciation


At 1 April 2023
-
1,625
4,860
6,485


Charge for the year on owned assets
447
231
583
1,261



At 31 March 2024

447
1,856
5,443
7,746



Net book value



At 31 March 2024
2,551
118
1,211
3,880



At 31 March 2023
-
349
575
924

Page 7

 
Bridgewater Care Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2024

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
351,835



At 31 March 2024
351,835

The 2024 valuations were made by the director, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Trade debtors
121,304
93,406

Other debtors
11,008
9,838

Prepayments and accrued income
4,230
4,908

136,542
108,152



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
69,162
45,594

Other taxation and social security
7,679
6,025

Other creditors
74,105
13,627

Accruals and deferred income
6,950
6,007

157,896
71,253



Page 8