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REGISTERED NUMBER: 05564035 (England and Wales)














G BRIDGLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


G BRIDGLAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: G C S Bridgland





SECRETARY: Mrs D Bridgland





REGISTERED OFFICE: Heathwood Timber Yard
Marden Road
Cranbrook
Kent
TN17 2LP





REGISTERED NUMBER: 05564035 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 50,225 62,673
Tangible assets 5 113,406 104,869
163,631 167,542

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 6 661,305 637,271
Cash at bank and in hand 81,793 195,655
749,098 838,926
CREDITORS
Amounts falling due within one year 7 149,441 272,361
NET CURRENT ASSETS 599,657 566,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,288

734,107

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(27,264

)

PROVISIONS FOR LIABILITIES 10 (27,459 ) (26,217 )
NET ASSETS 720,829 680,626

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 720,828 680,625
SHAREHOLDERS' FUNDS 720,829 680,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 7 February 2025 and were signed by:





G C S Bridgland - Director


G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

G Bridgland 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 2005, is being
amortised evenly over its estimated useful life of twenty years, with the first charge being made in 2008.

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.
Freehold property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

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 balance sheet date.


G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition
In accordance with the provisions of UITF40 "Revenue recognition and service contracts" where work straddles a year end it is treated as a long term contract and income is accrued as the work progresses to reflect the partial completion of the work at the year end.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 23 ) .

G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 249,753
AMORTISATION
At 1 January 2023 187,080
Amortisation for year 12,448
At 31 December 2023 199,528
NET BOOK VALUE
At 31 December 2023 50,225
At 31 December 2022 62,673

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 5,000 695,173 35,808 395,489 1,131,470
Additions - 26,490 - 26,800 53,290
At 31 December 2023 5,000 721,663 35,808 422,289 1,184,760
DEPRECIATION
At 1 January 2023 1,500 632,942 30,833 361,326 1,026,601
Charge for year 500 20,669 1,357 22,227 44,753
At 31 December 2023 2,000 653,611 32,190 383,553 1,071,354
NET BOOK VALUE
At 31 December 2023 3,000 68,052 3,618 38,736 113,406
At 31 December 2022 3,500 62,231 4,975 34,163 104,869

G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 29,660
DEPRECIATION
At 1 January 2023 15,426
Charge for year 4,449
At 31 December 2023 19,875
NET BOOK VALUE
At 31 December 2023 9,785
At 31 December 2022 14,234

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 73,369 60,337
Other debtors 585,383 576,934
658,752 637,271

Amounts falling due after more than one year:
Other debtors 2,553 -

Aggregate amounts 661,305 637,271

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 42,450 10,000
Hire purchase contracts 2,264 3,765
Trade creditors 49,645 111,832
Taxation and social security 50,505 88,939
Other creditors 4,577 57,825
149,441 272,361

G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,000
Hire purchase contracts - 2,264
15,000 27,264

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 32,450 -
Hire purchase contracts 2,264 6,029
34,714 6,029

The bank overdraft from Lloyds Bank plc is secured by a debenture over the company's assets dated 16 October 2008. The director has also provided personal guarantees to Lloyds Bank plc of £80,000 and Nat West Bank plc of £20,000.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 27,459 26,217

Deferred
tax
£   
Balance at 1 January 2023 26,217
Accelerated Capital Allowances 1,242
Balance at 31 December 2023 27,459

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

G BRIDGLAND LIMITED (REGISTERED NUMBER: 05564035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
G C S Bridgland
Balance outstanding at start of year (434 ) (434 )
Amounts advanced 10,799 -
Amounts repaid (2,800 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,565 (434 )

13. RELATED PARTY DISCLOSURES

Included in other debtors is £539,566 (£551,821 - 2022) owed by Wizard Fireworks Limited and £16,436 (£16,436 - 2022) owed by Illusion Pyrotechnics Limited, both are companies controlled by G C S Bridgland.

The director and company have also indicated their continued financial support of Wizard Fireworks Limited for the foreseeable future.