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REGISTERED NUMBER: 08316710 (England and Wales)











BRIDGEGATE SECURITY (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024






BRIDGEGATE SECURITY (UK) LIMITED (REGISTERED NUMBER: 08316710)


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024












Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

3


to


6



BRIDGEGATE SECURITY (UK) LIMITED


COMPANY INFORMATION

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024









DIRECTORS:

D J Fullerton


T M Evans







REGISTERED OFFICE:

14 Mayflower House


Pontefract Road


Leeds


LS10 1TB







REGISTERED NUMBER:

08316710 (England and Wales)







AUDITORS:

Thomas Coombs Limited


Statutory Auditor


Chartered Accountants


3365 The Pentagon


Century Way


Thorpe Park


Leeds


West Yorkshire


LS15 8ZB


BRIDGEGATE SECURITY (UK) LIMITED (REGISTERED NUMBER: 08316710)


BALANCE SHEET

29TH FEBRUARY 2024



2024

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

9,194


4,421




CURRENT ASSETS

Debtors

5

826,825


1,342,479



Cash at bank and in hand

283,330


995,613



1,110,155


2,338,092



CREDITORS

Amounts falling due within one year

6

969,961


1,398,887



NET CURRENT ASSETS

140,194


939,205



TOTAL ASSETS LESS CURRENT LIABILITIES

149,388


943,626




CAPITAL AND RESERVES

Called up share capital

8

500


500



Retained earnings

148,888


943,126



SHAREHOLDERS' FUNDS

149,388


943,626




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 24th February 2025 and were signed on its behalf by:






D J Fullerton - Director



BRIDGEGATE SECURITY (UK) LIMITED (REGISTERED NUMBER: 08316710)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024



1.

STATUTORY INFORMATION



Bridgegate Security (UK) 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 (£).



The nature of the company's operations and principal activities is that of private security and providing door supervision and guarding security services throughout the United Kingdom.


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.  



Going concern


In accordance with accounting standards by adopting the going concern basis of accounting in preparing the annual financial statements the directors have considered a period of 12 months from the date of approval of the accounts.



Within those considerations the directors have noted the following:



- With strong levels of trading and a strong growth pipeline, the business is well placed to capitalize on the investments made and opportunities available.


- Cashflow forecasts which indicate a positive cash balance for at least the next 12 months.



Accordingly, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future, and therefore they continue to adopt the going concern basis of accounting in preparing the financial statements.



Related party exemption


The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.



Significant judgements and estimates

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

In the application of the company's accounting policies, the directors are required to make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant and so actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis and revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In preparing these financial statements, the directors have considered the following key sources of estimation uncertainty:

Bad debt provision -
Where the company believes that unpaid debtors may result in a bad debt, provision is calculated. This calculation considers the payment history of the relevant customers and the ageing of the debt.


Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


BRIDGEGATE SECURITY (UK) LIMITED (REGISTERED NUMBER: 08316710)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024



2.

ACCOUNTING POLICIES - continued



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.  


Computer equipment

-

25% on reducing balance



Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.


Taxation

Taxation for the period 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 period 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.


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.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the period was 17 (2022 - 16 ), including 2 directors (2023 - 3).


There were also 538 (2022: 502) average number of contractors engaged during the period. They are not included in the

numbers above as they are not considered to be full-time employees of the company.



BRIDGEGATE SECURITY (UK) LIMITED (REGISTERED NUMBER: 08316710)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024



4.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1st January 2023

9,498




Additions

10,547




Disposals

(3,191

)



At 29th February 2024

16,854




DEPRECIATION


At 1st January 2023

5,077




Charge for period

2,940




Eliminated on disposal

(357

)



At 29th February 2024

7,660




NET BOOK VALUE


At 29th February 2024

9,194




At 31st December 2022

4,421




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2022


£   

£   



Trade debtors

682,529


977,725




Other debtors

144,296


364,754



826,825


1,342,479




Included in trade debtors are debts subject to an invoice discounting arrangement totalling £626,970.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2022


£   

£   



Trade creditors

76,166


60,249




Amounts owed to group undertakings

208,347


-




Taxation and social security

401,625


771,134




Other creditors

283,823


567,504



969,961


1,398,887




7.

SECURED DEBTS



Invoice financing liabilities are secured under a fixed and floating charge over the assets and undertakings of the company. As at the year end there are no such outstanding liabilities.


8.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2024

2022



value:

£   

£   



500

Ordinary

£1

500


500




BRIDGEGATE SECURITY (UK) LIMITED (REGISTERED NUMBER: 08316710)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1ST JANUARY 2023 TO 29TH FEBRUARY 2024



9.

DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006



The Report of the Auditors was unqualified.



Jordan Mitchell ACA (Senior Statutory Auditor)


for and on behalf of Thomas Coombs Limited


10.

DIVIDENDS



Dividends declared during the period ended 29th February 2024 totalled £1,369,749 (2022- £1,285,404). All dividends declared during the period ended 29th February 2024 were done so prior to the company being acquired by ESS Bidco Limited on 26th July 2023.


11.

ULTIMATE CONTROLLING PARTY



ESS Bidco Limited, registered in England, is the company's parent company.



Effective Security Holdings Limited, registered in England, is the company's ultimate parent company.