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Registration number: 7104100

W E Bridge International Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

W E Bridge International Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

W E Bridge International Limited

Company Information

Directors

David Henson

Jan Soren Bowen-Nielsen

Penelope Dawn Mathews

Registered office

10th Floor
Southgate House
Wood Street
Cardiff
CF10 1EW

Accountants

AIMS Accountants for Business
 
C12
12 Cathedral Road
Cardiff
CF11 9LJ

 

W E Bridge International Limited

(Registration number: 7104100)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,591

39,804

Current assets

 

Debtors

5

328,835

350,959

Cash at bank and in hand

 

236

115,343

 

329,071

466,302

Creditors: Amounts falling due within one year

6

(602,389)

(728,021)

Net current liabilities

 

(273,318)

(261,719)

Total assets less current liabilities

 

(241,727)

(221,915)

Creditors: Amounts falling due after more than one year

6

-

(56,146)

Net liabilities

 

(241,727)

(278,061)

Capital and reserves

 

Called up share capital

9,250

9,250

Share premium reserve

167,275

167,275

Retained earnings

(418,252)

(454,586)

Shareholders' deficit

 

(241,727)

(278,061)

 

W E Bridge International Limited

(Registration number: 7104100)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 March 2025 and signed on its behalf by:
 

.........................................
Penelope Dawn Mathews
Director

 

W E Bridge International Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
10th Floor
Southgate House
Wood Street
Cardiff
CF10 1EW

These financial statements were authorised for issue by the Board on 6 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

W E Bridge International Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Office furniture and equipment

25% of reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

W E Bridge International Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
 

 

W E Bridge International Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 11).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

211,555

211,555

Additions

1,897

1,897

At 30 June 2024

213,452

213,452

Depreciation

At 1 July 2023

171,751

171,751

Charge for the year

10,110

10,110

At 30 June 2024

181,861

181,861

Carrying amount

At 30 June 2024

31,591

31,591

At 30 June 2023

39,804

39,804

5

Debtors

Current

2024
£

2023
£

Trade debtors

258,260

308,677

Prepayments

50,635

42,282

Other debtors

19,940

-

 

328,835

350,959

 

W E Bridge International Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

76,933

61,250

Trade creditors

 

45,959

22,770

Taxation and social security

 

4,218

4,904

Accruals and deferred income

 

418,853

626,136

Other creditors

 

56,426

12,961

 

602,389

728,021

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

56,146

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

56,146

Current loans and borrowings

2024
£

2023
£

Bank borrowings

56,146

61,250

Bank overdrafts

20,787

-

76,933

61,250

 

W E Bridge International Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

Loan

-

1,076

1,076