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REGISTERED NUMBER: 11242984 (England and Wales)
























Financial Statements

for the Year Ended 31 March 2024

for

Bridge Rentals Limited

Bridge Rentals Limited (Registered number: 11242984)






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 Rentals Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D C Bridge
Miss S Bridge





SECRETARY:





REGISTERED OFFICE: Rolphs Farm
Boars Tye Road
Silver End
Witham
Essex
CM8 3PN





REGISTERED NUMBER: 11242984 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

Bridge Rentals Limited (Registered number: 11242984)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,081 26,845
Investment property 5 55,578,869 48,113,617
55,598,950 48,140,462

CURRENT ASSETS
Debtors 6 31,706 85,058
Cash at bank 104,978 361,682
136,684 446,740
CREDITORS
Amounts falling due within one year 7 1,858,426 1,728,624
NET CURRENT LIABILITIES (1,721,742 ) (1,281,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,877,208

46,858,578

CREDITORS
Amounts falling due after more than one year 8 (34,970,244 ) (33,986,244 )

PROVISIONS FOR LIABILITIES (1,155,254 ) -
NET ASSETS 17,751,710 12,872,334

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 10 12,464,838 12,464,838
Fair value reserve 10 4,844,746 -
Retained earnings 10 442,026 407,396
17,751,710 12,872,334

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 Rentals Limited (Registered number: 11242984)

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 13 February 2025 and were signed on its behalf by:





D C Bridge - Director


Bridge Rentals Limited (Registered number: 11242984)

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

1. STATUTORY INFORMATION

Bridge Rentals 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance and Straight line over 3 years

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Bridge Rentals Limited (Registered number: 11242984)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 57,799
Additions 373
At 31 March 2024 58,172
DEPRECIATION
At 1 April 2023 30,954
Charge for year 7,137
At 31 March 2024 38,091
NET BOOK VALUE
At 31 March 2024 20,081
At 31 March 2023 26,845

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 48,113,617
Additions 1,465,252
Revaluations 6,000,000
At 31 March 2024 55,578,869
NET BOOK VALUE
At 31 March 2024 55,578,869
At 31 March 2023 48,113,617

The investment properties are shown at its fair value at the Balance Sheet date as valued by the director. The valuation was made on a fair value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 6,000,000
Cost 49,578,869
55,578,869

Bridge Rentals Limited (Registered number: 11242984)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 31,706 85,058

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 9,338
Taxation and social security 9,848 1,868
Other creditors 1,848,578 1,717,418
1,858,426 1,728,624

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 34,970,244 33,986,244

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 34,970,244 33,986,244

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 34,970,244 33,986,244

The bank loans are secured on the companies investment properties.

10. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 407,396 12,464,838 - 12,872,234
Profit for the year 4,879,376 4,879,376
Reserve transfer (4,844,746 ) - 4,844,746 -
At 31 March 2024 442,026 12,464,838 4,844,746 17,751,610