Company registration number 11480534 (England and Wales)
BRIDGEHAM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
BRIDGEHAM LIMITED
COMPANY INFORMATION
Director
Mr S Ellinson
Company number
11480534
Registered office
3 Ashgrove Terrace
Gateshead
England
NE8 1RL
Tyne and Wear
NE8 1RL
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
BRIDGEHAM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BRIDGEHAM LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
296,268
207,500
Current assets
Debtors
4
1,850
1,557
Cash at bank and in hand
11,074
33,207
12,924
34,764
Creditors: amounts falling due within one year
5
(62,916)
(60,715)
Net current liabilities
(49,992)
(25,951)
Total assets less current liabilities
246,276
181,549
Creditors: amounts falling due after more than one year
6
(180,029)
(120,406)
Provisions for liabilities
8
(19,708)
(19,708)
Net assets
46,539
41,435
Capital and reserves
Called up share capital
10
1
1
Profit and loss reserves
46,538
41,434
Total equity
46,539
41,435
BRIDGEHAM LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 28 April 2025
Mr S Ellinson
Director
Company registration number 11480534 (England and Wales)
BRIDGEHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Bridgeham Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O 3 Ashgrove Terrace, Gateshead, Tyne and Wear, NE8 1RL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in UK sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
Going concern
The financial statements have been prepared on a going concern basis which, in the opinion of the director, is the appropriate basis. The company's ability to continue operating is dependent upon the ongoing support of its director. In the event that the company is unable to continue operating, adjustments would have to be made to reduce the value of assets to their recoverable amount.true
1.2
Turnover
Turnover represents rents receivable in accordance with the underlying property leases.
1.3
Investment properties
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.
The methods and significant assumptions used to ascertain the fair value of £296,268 and fair value movement of £Nil included in profit/loss for the year are as follows:
The investment property has been valued at fair value based on estimates by the director
BRIDGEHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current and deferred taxation assets and liabilities are not discounted.
Current tax
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.5
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probably that an outflow of economic benefits will be required in settlement and the amount can reliably estimated.
1.6
Loans and borrowings are initially recognised at the transaction price including transaction cost. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
1.7
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.8
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
BRIDGEHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Investment property
2024
£
Fair value
At 1 August 2023
207,500
Additions
88,768
At 31 July 2024
296,268
The historic cost of the investment property is £217,436 (2023 £128,668).
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,523
1,077
Prepayments and accrued income
327
480
1,850
1,557
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7
3,729
1,569
Other creditors
58,342
58,342
Accruals and deferred income
845
804
62,916
60,715
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
180,029
120,406
Creditors which fall due after five years are payable as follows:
Payable by instalments
163,211
112,578
BRIDGEHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
7
Loans and overdrafts
2024
2023
£
£
Bank loans
183,758
121,975
Payable within one year
3,729
1,569
Payable after one year
180,029
120,406
The bank loans are secured on the company's investment properties.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9
19,708
19,708
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Revaluation of investment property
19,708
19,708
There were no deferred tax movements in the year.
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
11
Related party transactions
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due to related parties
£
£
Key management personnel
27,454
27,454