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Registered number: 04526328
Bridgewater Metals Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04526328
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 45,055 37,652
45,055 37,652
CURRENT ASSETS
Stocks 6 35,000 30,000
Debtors 7 196,376 191,788
Cash at bank and in hand 22,287 22,889
253,663 244,677
Creditors: Amounts Falling Due Within One Year 8 (140,299 ) (140,278 )
NET CURRENT ASSETS (LIABILITIES) 113,364 104,399
TOTAL ASSETS LESS CURRENT LIABILITIES 158,419 142,051
Creditors: Amounts Falling Due After More Than One Year 9 (9,307 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,331 ) -
NET ASSETS 146,781 142,051
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 146,681 141,951
SHAREHOLDERS' FUNDS 146,781 142,051
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Guy Smithson
Director
26 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bridgewater Metals Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04526328 . The registered office is 7 Christie Way, Christie Fields, Manchester, M21 7QY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity
2.2. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years straight line.
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 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% 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. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. 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.
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 60,000
As at 31 March 2024 60,000
Amortisation
As at 1 April 2023 60,000
As at 31 March 2024 60,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 91,639 24,320 125 116,084
Additions - 15,951 191 16,142
Disposals (4,825 ) (24,320 ) - (29,145 )
As at 31 March 2024 86,814 15,951 316 103,081
...CONTINUED
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Depreciation
As at 1 April 2023 57,074 21,334 24 78,432
Provided during the period 5,145 333 17 5,495
Disposals (4,566 ) (21,335 ) - (25,901 )
As at 31 March 2024 57,653 332 41 58,026
Net Book Value
As at 31 March 2024 29,161 15,619 275 45,055
As at 1 April 2023 34,565 2,986 101 37,652
6. Stocks
2024 2023
£ £
Stock 35,000 30,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 18,926 15,224
Amounts owed by group undertakings 169,135 161,825
Other debtors 8,315 14,739
196,376 191,788
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,505 -
Trade creditors 111,263 113,831
Other creditors 10,151 19,190
Taxation and social security 15,380 7,257
140,299 140,278
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,307 -
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,505 -
Later than one year and not later than five years 9,307 -
12,812 -
12,812 -
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