Bridge Works Development Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04266432 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

BRIDGE WORKS DEVELOPMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S F O'Malley

T A Matthews

N H Dyson

SECRETARY:

T A Matthews

REGISTERED OFFICE:

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH16RW

REGISTERED NUMBER:

04266432 (England and Wales)

ACCOUNTANTS:

GBJ Financial Limited

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

FIXED ASSETS

Tangible assets

4

-

Investment property

5

2,500,000

CURRENT ASSETS

Debtors

6

13,616

8,921

Cash at bank

34,678

57,111

48,294

66,032

CREDITORS

Amounts falling due within one year

7

134,742

123,524

NET CURRENT LIABILITIES

(86,448

)

(57,492

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,413,552

2,442,508

CREDITORS

Amounts falling due after more than one
year

8

(10,940

)

(20,944

)

PROVISIONS FOR LIABILITIES

(119,986

)

(119,986

)

NET ASSETS

2,282,626

2,301,578

CAPITAL AND RESERVES

Called up share capital

1,002

Capital redemption reserve

9

243,795

Fair value reserve

9

960,469

Retained earnings

9

1,077,360

1,096,312

SHAREHOLDERS' FUNDS

2,282,626

2,301,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 5 April 2025 and were signed on its behalf by:

N H Dyson - Director

1.	STATUTORY INFORMATION

Bridge Works Development 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts receivable in respect of rentals and cost recoveries, excluding Value Added Tax.

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.

Office equipment and furniture

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

and

furniture

£

COST

At 1 September 2023

10,729

Disposals

(10,729

)

At 31 August 2024

-

DEPRECIATION

At 1 September 2023

10,729

Eliminated on disposal

(10,729

)

At 31 August 2024

-

NET BOOK VALUE

At 31 August 2024

-

At 31 August 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2023

and 31 August 2024

2,500,000

NET BOOK VALUE

At 31 August 2024

2,500,000

At 31 August 2023

2,500,000

Fair value at 31 August 2024 is represented by:

£

Valuation in 2006

304,264

Valuation in 2009

(186,667

)

Valuation in 2012

298,500

Valuation in 2022

788,167

Cost

1,295,736

2,500,000

If the investment property had not been revalued is would have been included at the following historical cost:

2024

2023

£

Cost

1,295,736

The directors consider the value of the investment property at the year end to be £2,500,000.

A provision has been made for deferred tax on gains on revaluing the property to its fair value. The total amount provided is £119,986.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

1,730

Other debtors

13,616

7,191

13,616

8,921

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

10,000

Trade creditors

8,028

-

Taxation and social security

54,275

51,085

Other creditors

62,439

134,742

123,524

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

10,940

20,944

9.

RESERVES

Capital

Retained

redemption

Fair value

earnings

reserve

Totals

£

At 1 September 2023

1,096,312

243,795

960,469

2,300,576

Profit for the year

133,922

-

133,922

Dividends

(152,874

)

-

(152,874

)

At 31 August 2024

1,077,360

243,795

960,469

2,281,624