9 false false false false false false false false false false true false false true true true true No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 9701345 2023-08-01 2024-07-31 9701345 2024-07-31 9701345 2023-07-31 9701345 2022-08-01 2023-07-31 9701345 2023-07-31 9701345 2022-07-31 9701345 core:FurnitureFittings 2023-08-01 2024-07-31 9701345 bus:Director1 2023-08-01 2024-07-31 9701345 core:FurnitureFittings 2023-07-31 9701345 core:FurnitureFittings 2024-07-31 9701345 core:WithinOneYear 2024-07-31 9701345 core:WithinOneYear 2023-07-31 9701345 core:ShareCapital 2024-07-31 9701345 core:ShareCapital 2023-07-31 9701345 core:RetainedEarningsAccumulatedLosses 2024-07-31 9701345 core:RetainedEarningsAccumulatedLosses 2023-07-31 9701345 core:FurnitureFittings 2023-07-31 9701345 bus:SmallEntities 2023-08-01 2024-07-31 9701345 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 9701345 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 9701345 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 9701345 bus:FullAccounts 2023-08-01 2024-07-31 9701345 core:ComputerEquipment 2023-08-01 2024-07-31 9701345 core:ComputerEquipment 2024-07-31 9701345 core:ComputerEquipment 2023-07-31
COMPANY REGISTRATION NUMBER: 9701345
Bridgeway Stores Limited
Filleted Unaudited Financial Statements
31 July 2024
Bridgeway Stores Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
15,665
19,581
Current assets
Stocks
37,250
38,500
Debtors
6
10,967
Cash at bank and in hand
39,123
19,712
--------
--------
87,340
58,212
Creditors: amounts falling due within one year
7
66,388
45,115
--------
--------
Net current assets
20,952
13,097
--------
--------
Total assets less current liabilities
36,617
32,678
Provisions
4,666
4,666
--------
--------
Net assets
31,951
28,012
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
31,851
27,912
--------
--------
Shareholders funds
31,951
28,012
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bridgeway Stores Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mr R S Dhaliwal
Director
Company registration number: 9701345
Bridgeway Stores Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Western Avenue, Bridge, Canterbury, CT4 5LS, Kent.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 8 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 August 2023 and 31 July 2024
32,609
43,946
76,555
--------
--------
--------
Depreciation
At 1 August 2023
25,943
31,031
56,974
Charge for the year
1,333
2,583
3,916
--------
--------
--------
At 31 July 2024
27,276
33,614
60,890
--------
--------
--------
Carrying amount
At 31 July 2024
5,333
10,332
15,665
--------
--------
--------
At 31 July 2023
6,666
12,915
19,581
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
10,967
--------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,897
12,985
Corporation tax
7,555
7,292
Social security and other taxes
3,253
4,776
Other creditors
43,683
20,062
--------
--------
66,388
45,115
--------
--------
8. Directors' advances, credits and guarantees
Other creditors include directors loan accounts amounting to £37,298 (2023-£11,432).
9. Related party transactions
The company was under the control of the directors who are all close family members. The company paid £30,000 (2023-£30,000) rent to Mr H S Dhaliwal and Mrs G K Dhaliwal who own the business premises.