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Registered number: 07189991
Bridgend Storewithus Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
PML Accountants
Chartered Certified Accountants
Unit 8 Water Street Business Centre
Water Street
Port Talbot
West Glamorgan
SA12 6LF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07189991
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,375 16,875
Tangible Assets 5 423,851 316,476
438,226 333,351
CURRENT ASSETS
Stocks 6 1,565 797
Debtors 7 50,261 48,524
Cash at bank and in hand 238,851 156,379
290,677 205,700
Creditors: Amounts Falling Due Within One Year 8 (168,602 ) (100,533 )
NET CURRENT ASSETS (LIABILITIES) 122,075 105,167
TOTAL ASSETS LESS CURRENT LIABILITIES 560,301 438,518
Creditors: Amounts Falling Due After More Than One Year 9 (48,421 ) (19,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (71,803 ) (53,469 )
NET ASSETS 440,077 365,882
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 439,977 365,782
SHAREHOLDERS' FUNDS 440,077 365,882
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Wilkey
Director
27/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Bridgend Storewithus Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07189991 . The registered office is C5 North Road, Bridgend Industrial Estate, Bridgend, County Bridgend, CF31 3TP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% Reducing balance
Motor Vehicles 10% Reducing balance
Fixtures & Fittings 10% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 50,000
As at 30 June 2024 50,000
Amortisation
As at 1 July 2023 33,125
Provided during the period 2,500
As at 30 June 2024 35,625
...CONTINUED
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Net Book Value
As at 30 June 2024 14,375
As at 1 July 2023 16,875
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 462,652 33,978 215,839 712,469
Additions 83,074 46,667 19,403 149,144
As at 30 June 2024 545,726 80,645 235,242 861,613
Depreciation
As at 1 July 2023 248,974 22,998 124,021 395,993
Provided during the period 29,687 1,823 10,259 41,769
As at 30 June 2024 278,661 24,821 134,280 437,762
Net Book Value
As at 30 June 2024 267,065 55,824 100,962 423,851
As at 1 July 2023 213,678 10,980 91,818 316,476
6. Stocks
30 June 2024 30 June 2023
£ £
Stock 1,565 797
7. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 2,640 -
Prepayments and accrued income 17,915 14,607
Other debtors 29,706 12,504
Corporation tax recoverable assets - 21,413
50,261 48,524
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8. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,721 -
Bank loans and overdrafts 10,000 10,000
Corporation tax 3,665 -
Other taxes and social security 1,618 866
VAT 18,207 16,280
Other creditors 31,449 2,380
Accruals and deferred income 96,942 71,007
168,602 100,533
9. Creditors: Amounts Falling Due After More Than One Year
30 June 2024 30 June 2023
£ £
Net obligations under finance lease and hire purchase contracts 39,254 -
Bank loans 9,167 19,167
48,421 19,167
10. Obligations Under Finance Leases and Hire Purchase
30 June 2024 30 June 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,721 -
Later than one year and not later than five years 39,254 -
45,975 -
45,975 -
11. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
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