IRIS Accounts Production v24.3.2.46 11309405 Board of Directors 1.4.23 31.3.24 31.3.24 to hold the activities of head offices. 0 0 true false true true false false true false 0 0 Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113094052023-03-31113094052024-03-31113094052023-04-012024-03-31113094052022-03-31113094052022-04-012023-03-31113094052023-03-3111309405ns15:EnglandWales2023-04-012024-03-3111309405ns14:PoundSterling2023-04-012024-03-3111309405ns10:Director12023-04-012024-03-3111309405ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111309405ns10:SmallEntities2023-04-012024-03-3111309405ns10:Audited2023-04-012024-03-3111309405ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111309405ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111309405ns10:FullAccounts2023-04-012024-03-3111309405ns10:OrdinaryShareClass12023-04-012024-03-3111309405ns10:OrdinaryShareClass22023-04-012024-03-3111309405ns10:Director22023-04-012024-03-3111309405ns10:Director32023-04-012024-03-3111309405ns10:Director42023-04-012024-03-3111309405ns10:Director52023-04-012024-03-3111309405ns10:RegisteredOffice2023-04-012024-03-3111309405ns5:CurrentFinancialInstruments2024-03-3111309405ns5:CurrentFinancialInstruments2023-03-3111309405ns5:Non-currentFinancialInstruments2024-03-3111309405ns5:Non-currentFinancialInstruments2023-03-3111309405ns5:ShareCapital2024-03-3111309405ns5:ShareCapital2023-03-3111309405ns5:SharePremium2024-03-3111309405ns5:SharePremium2023-03-3111309405ns5:RetainedEarningsAccumulatedLosses2024-03-3111309405ns5:RetainedEarningsAccumulatedLosses2023-03-3111309405ns5:ShareCapital2022-03-3111309405ns5:RetainedEarningsAccumulatedLosses2022-03-3111309405ns5:SharePremium2022-03-3111309405ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3111309405ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3111309405ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-03-3111309405ns5:UnlistedNon-exchangeTraded2024-03-3111309405ns5:UnlistedNon-exchangeTraded2023-03-3111309405ns5:Subsidiary12023-04-012024-03-3111309405ns5:Subsidiary112023-04-012024-03-3111309405ns5:Subsidiary12024-03-3111309405ns5:Subsidiary12023-03-3111309405ns5:Subsidiary12022-04-012023-03-3111309405ns10:OrdinaryShareClass12024-03-3111309405ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 11309405 (England and Wales)
















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BRIDGES HOLDINGS LTD

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


BRIDGES HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr C Stocchetti
Mr D J Pockett
Mr N D Barnes
Mr M L Kirby
Mr J N Baldry





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 11309405 (England and Wales)





AUDITORS: Ad Valorem Audit Services Limited
Chartered Certified Accountants & Statutory
Auditors
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr C Stocchetti
Mr D J Pockett
Mr N D Barnes
Mr M L Kirby
Mr J N Baldry

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Ad Valorem Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr C Stocchetti - Director


20 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGES HOLDINGS LTD


Opinion
We have audited the financial statements of Bridges Holdings Ltd (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGES HOLDINGS LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGES HOLDINGS LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Company's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud.

We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Company. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:

- Employment legislation, reflecting the Company's workforce
- Health and safety regulation, reflecting the Company's operating processes
- Data privacy, reflecting the Company's management of personal and corporate data

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGES HOLDINGS LTD

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Darren Kerins FCCA (Senior Statutory Auditor)
for and on behalf of Ad Valorem Audit Services Limited
Chartered Certified Accountants & Statutory
Auditors
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN

21 March 2025

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£    £   

TURNOVER - -

Administrative expenses 1,980 2,670
(1,980 ) (2,670 )

Other operating income 900,000 -
OPERATING PROFIT/(LOSS) and
PROFIT/(LOSS) BEFORE TAXATION 898,020 (2,670 )

Tax on profit/(loss) - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

898,020

(2,670

)

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 3,702,540 3,702,540

CURRENT ASSETS
Cash at bank 10 10

CREDITORS
Amounts falling due within one year 6 2,140,511 2,166,030
NET CURRENT LIABILITIES (2,140,501 ) (2,166,020 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,562,039

1,536,520

CREDITORS
Amounts falling due after more than one year 7 117,499 190,000
NET ASSETS 1,444,540 1,346,520

CAPITAL AND RESERVES
Called up share capital 8 673 673
Share premium 1,430,002 1,430,002
Retained earnings 13,865 (84,155 )
SHAREHOLDERS' FUNDS 1,444,540 1,346,520

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Mr C Stocchetti - Director


BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 April 2022 673 (81,485 ) 1,430,002 1,349,190

Changes in equity
Total comprehensive income - (2,670 ) - (2,670 )
Balance at 31 March 2023 673 (84,155 ) 1,430,002 1,346,520

Changes in equity
Dividends - (800,000 ) - (800,000 )
Total comprehensive income - 898,020 - 898,020
Balance at 31 March 2024 673 13,865 1,430,002 1,444,540

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Bridges Holdings Ltd 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

FIXED ASSETS INVESTMENTS
Fixed assets investment is stated at cost less provision for any permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

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

4. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

1,980

2,670

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
Cost
At 1 April 2023
and 31 March 2024 3,702,540
Net book value
At 31 March 2024 3,702,540
At 31 March 2023 3,702,540

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Bridges Estate Agents Limited
Registered office: 77 High Street, Aldershot,
Nature of business: Estate agents,residential lettings agents
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 7,245,033 6,936,279
Profit for the year 1,208,754 899,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,042,531 1,974,050
Other creditors 96,000 190,000
Accruals and deferred income 1,980 1,980
2,140,511 2,166,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 117,499 190,000

BRIDGES HOLDINGS LTD (REGISTERED NUMBER: 11309405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
539 Ordinary A £1 539 539
134 Ordinary B £1 134 134
673 673

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Bridges EA Group Ltd, a company incorporated in England and Wales. Bridges EA Group Ltd prepares group financial statements and copies are available from its registered office Unit 2.02 High Weald House, Glovers End, Bexhill, East Sussex, United Kingdom, TN39 5ES.