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REGISTERED NUMBER: 07637171 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

BRIDGING VENTURES GROUP LIMITED

BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRIDGING VENTURES GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A J Fallon
L M Jacobs





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 07637171 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 124 247
Investments 5 - 41,137
124 41,384

CURRENT ASSETS
Debtors 6 12,761,499 12,721,655
Cash at bank and in hand 48,479 509,866
12,809,978 13,231,521
CREDITORS
Amounts falling due within one year 7 (12,727,415 ) (13,038,354 )
NET CURRENT ASSETS 82,563 193,167
TOTAL ASSETS LESS CURRENT LIABILITIES 82,687 234,551

CREDITORS
Amounts falling due after more than one year 8 (13,320 ) (30,113 )
NET ASSETS 69,367 204,438

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 69,167 204,238
SHAREHOLDERS' FUNDS 69,367 204,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

BALANCE SHEET - continued
30 JUNE 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 14 October 2024 and were signed on its behalf by:




L M Jacobs - Director



A J Fallon - Director


BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Bridging Ventures Group 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.

Turnover
Turnover represents net invoiced services and interest on bridging loans.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

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.

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 year was 7 (2023 - 7 ) .

BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023
and 30 June 2024 494
DEPRECIATION
At 1 July 2023 247
Charge for year 123
At 30 June 2024 370
NET BOOK VALUE
At 30 June 2024 124
At 30 June 2023 247

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 July 2023 41,137
Disposals (41,137 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 41,137

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 12,688,035 12,666,149
Other debtors 73,464 55,506
12,761,499 12,721,655

BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 20,060 19,993
Trade creditors 264 12,252
Amounts owed to a related party 100,466 25,466
Taxation and social security 127,105 65,470
Other creditors 12,479,520 12,915,173
12,727,415 13,038,354

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 13,320 30,113

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 4,800 4,800

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
200 Ordinary £1 200 200

11. PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of employees. Amount charged to the profit and loss account was £2,302 for the year (2023: £5,958)

12. RELATED PARTY DISCLOSURES

BRIDGING VENTURES GROUP LIMITED (REGISTERED NUMBER: 07637171)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


12. RELATED PARTY DISCLOSURES - continued

L M Jacobs and A J Fallon


A loan of £190,016 was advanced to L M Jacobs and A J Fallon in 2020. Interest accrued this year was £22,301 (2023: £20,649). Interest rate is 8% p.a.

30.6.24 30.6.23
£    £   
Amount due from related party at the balance sheet date 301,115 278,764

Energy Cycle Ltd

A company in which L M Jacobs is a director.


Management fees of £75,000 (2023: £50,000) were charged by Energy Cycle Ltd during the year.

30.6.24 30.6.23
£    £   
Amount due to related party at the balance sheet date 100,465 25,465