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REGISTERED NUMBER: 00748232 (England and Wales)









BRIDGE MOTORCYCLES LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024






BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Notes to the Financial Statements 14


BRIDGE MOTORCYCLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S Anthony
D F Anthony
L M Anthony





SECRETARY: R E Anthony





REGISTERED OFFICE: Alphin Brook Road
Marsh Barton Trading Estate
Exeter
Devon
EX2 8RG





REGISTERED NUMBER: 00748232 (England and Wales)





AUDITORS: WP Audit Services LLP
Chartered Accountant & Statutory Auditor
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS AND KPIS
Bridge Motorcycles has enjoyed another successful year.

The franchises operated in the period included Honda, Kawasaki, Suzuki and Triumph.

Turnover has decreased by 7.57%, down to £10.6m from £11.5m in the prior year, albeit, £0.55m of the prior year turnover came from discontinued operations. Excluding the discontinued operations the drop is only 2.9%.

The core business of motorcycle sales remained strong in the year. In addition to this, the on-site café has given the main trade supplementary income as well as making the site a popular location for the company's target demographic.

The company's gross profit margin has decreased, with reported margins of 13.8% (2023: 14.7%). This is linked to the competitive marketplace for motorbikes. However a strong net profit continues to be generated.

Another key performance indicator for the business is stock turnover days, which have increased by 11 days to a total of 137 (2023: 126). This increase is primarily due to additional stock purchased at the end of 2023 in response to earlier supply disruptions. However, demand has softened this year, largely as a result of poor weather conditions, leading to slower stock movement. As a result, the company has made larger provisions for inventory during the year.

The balance sheet continues to reflect the financial strength of the business, with net assets of £5.57m (2023: £6.76m). The decrease this year is the result of dividends of £1.61m being distributed to the holding company.

PRINCIPAL RISKS AND UNCERTAINTIES
Given the nature of the product, demand is heavily influenced by weather conditions an external risk that is beyond the company’s control. The directors have responded to this risk effectively by proactively addressing trends and offering discounts on slower-moving stock. While this strategy has had a slight negative impact on the gross profit margin, it has allowed the company to maximise the return on older inventory.

Another key risk facing the business is continued pressure on demand, as industry-wide cost inflation coincides with a reduction in customer disposable income. The company has mitigated this risk by strengthening its market position, building a strong reputation, and ensuring it carries the best selection of bikes in the local area.

The group also maintains strong cash reserves, holds no outstanding debt, and is in a net current asset position, leading the directors to assess liquidity risk as low.

GOING CONCERN
The directors have, at the time of preparing the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they have continued to adopt the going concern basis of accounting in preparing the financial statements.

The group has maintained strong cash reserves and has adequately addressed principal risks as detailed above. As a result, the directors are confident that the company could survive a substantial financial impact and is a going concern for well beyond the next 12 months of trading.

ON BEHALF OF THE BOARD:





S Anthony - Director


19 May 2025

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024

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

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of sale, maintenance and repair of motorcycles and related parts and accessories.

DIVIDENDS
An interim dividend of £1,610 per share was paid on 25 October 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 1,610,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

S Anthony
D F Anthony
L M Anthony

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise bank balances, trade creditors and intercompany group loans. The main purpose of each of these instruments is to raise funds for ongoing operations.

Due to the nature of the financial instruments used by the company, there is not considered to be significant exposure to price risk. The approach to managing other risks applicable to the financial instruments concerned is explained below:

Liquidity risk is managed by maintaining a healthy reserve of cash and striking a balance between the various elements of working capital.

The company has no interest bearing borrowings, so there is no interest rate risk.

DISCLOSURE IN THE STRATEGIC REPORT
Matters regarding the business review, key performance indicators, principal risks and review of going concern are included in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, 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). 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.

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


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.

ON BEHALF OF THE BOARD:



R E Anthony - Secretary


19 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGE MOTORCYCLES LIMITED

Opinion
We have audited the financial statements of Bridge Motorcycles Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, 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 December 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 Strategic Report and 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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 Strategic Report or 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGE MOTORCYCLES LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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
BRIDGE MOTORCYCLES LIMITED


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 the audit was considered capable of detecting irregularities, including fraud is summarised below:

Objectives
The objectives of our audit in respect of fraud, are;

- to identify and assess the risks of material misstatement of the financial statements due to fraud;
- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and
- to respond appropriately to instances of fraud or suspected fraud identified during the audit.

However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Audit Approach
Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Consumer Rights Act 2015, Companies Act 2006, FRS 102, and UK taxation legislation.
- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance, as well a review of relevant correspondence and certifications.
- We assessed the risk of material misstatement of the financial statements and how it might occur (including the risk of material misstatement due to fraud), by holding discussions with management and those charged with governance. We used our knowledge of the company and the industry in which it operates to determine if management's explanations were consistent with our own conclusions.
- Based on our understanding developed from the above, we designed specific appropriate audit procedures to identify instances of non-compliance with the key laws and regulations which may result in potential fraud. This included making enquiries of management and those charged with governance, investigating unusual or unexpected relationships or movements in figures disclosed in the accounts and remaining alert for any transactions that appeared to be outside the normal course of business.
- Furthermore, as required by auditing standards, and taking into account our overall knowledge of the control environment, we have performed procedures to address the risks of management override of controls and the risk of fraudulent revenue recognition. Procedures such as a review of journal entries and assessing estimates for management bias have enabled us to conclude in this area.

No instances of fraud, non-compliance or suspected non-compliance with laws and regulations were identified from the above procedures.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control environment relevant to the audit, in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BRIDGE MOTORCYCLES LIMITED

- Obtain sufficient appropriate audit evidence regarding the financial information of the company, to express an opinion on the financial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Context of the ability of the audit to detect fraud or breaches of law or regulation
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. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect noncompliance 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.




Stephanie Williams (Senior Statutory Auditor)
for and on behalf of WP Audit Services LLP
Chartered Accountant & Statutory Auditor
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

21 May 2025

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2024 2024
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 5 10,630,756 - 10,630,756
Cost of sales (9,161,594 ) - (9,161,594 )
GROSS PROFIT 1,469,162 - 1,469,162

Distribution costs (64,698 ) - (64,698 )
Administrative expenses (1,072,099 ) - (1,072,099 )
332,365 - 332,365

Other operating income 66,046 - 66,046


OPERATING PROFIT 7 398,411 - 398,411

Interest receivable and similar income 139,794 - 139,794
Interest payable and similar expenses 8 (186 ) - (186 )
PROFIT BEFORE TAXATION 538,019 - 538,019
Tax on profit 9 (119,920 ) - (119,920 )
PROFIT FOR THE FINANCIAL YEAR 418,099 - 418,099

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2023 2023 2023
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 5 10,946,051 551,697 11,497,748
Cost of sales (9,386,820 ) (422,729 ) (9,809,549 )
GROSS PROFIT 1,559,231 128,968 1,688,199

Distribution costs (85,807 ) (4,325 ) (90,132 )
Administrative expenses (867,825 ) (139,642 ) (1,007,467 )
605,599 (14,999 ) 590,600

Other operating income 86,291 - 86,291


OPERATING PROFIT/(LOSS) 7 691,890 (14,999 ) 676,891

Interest receivable and similar income 151,130 - 151,130
Interest payable and similar expenses 8 (31,689 ) (1,597 ) (33,286 )
PROFIT/(LOSS) BEFORE TAXATION 811,331 (16,596 ) 794,735
Tax on profit/(loss) 9 (190,185 ) 3,100 (187,085 )
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 621,146 (13,496 ) 607,650

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 418,099 607,650


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 418,099 607,650

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 12 13,635 -
Tangible assets 13 1,482,262 1,531,651
Investment property 14 350,000 350,000
1,845,897 1,881,651

CURRENT ASSETS
Stocks 15 2,957,532 3,162,496
Debtors 16 3,941,690 3,696,764
Cash at bank and in hand 809,997 449,958
7,709,219 7,309,218
CREDITORS
Amounts falling due within one year 17 3,762,098 2,204,760
NET CURRENT ASSETS 3,947,121 5,104,458
TOTAL ASSETS LESS CURRENT LIABILITIES 5,793,018 6,986,109

PROVISIONS FOR LIABILITIES 20 223,213 224,403
NET ASSETS 5,569,805 6,761,706

CAPITAL AND RESERVES
Called up share capital 21 1,000 1,000
Retained earnings 22 5,568,805 6,760,706
SHAREHOLDERS' FUNDS 5,569,805 6,761,706

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





S Anthony - Director


BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 1,000 6,553,056 6,554,056

Changes in equity
Dividends - (400,000 ) (400,000 )
Total comprehensive income - 607,650 607,650
Balance at 31 December 2023 1,000 6,760,706 6,761,706

Changes in equity
Dividends - (1,610,000 ) (1,610,000 )
Total comprehensive income - 418,099 418,099
Balance at 31 December 2024 1,000 5,568,805 5,569,805

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

1. STATUTORY INFORMATION

Bridge Motorcycles 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

The directors believe that the company is a going concern. although there has been a drop in sales and profitability, the company still has strong net current assets and is able to continue to generate cash to meet its liabilities as they fall due.

The directors believe that the company is well placed to manage its business risks successfully and accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Revenue recognition
The turnover shown in the Profit and Loss Account represents goods and services invoiced during the year, net of sales discounts and exclusive of Value Added Tax. Bike sales revenue is recognised when the bike is delivered to, or collected by, the customer. Parts and accessory sales revenue is recognised on dispatch to the customer. Servicing and bikes revenue is recognised once the service is completed. Income from the Café is recognised on the day in which the order is placed and delivered.

Other revenue, including rent receivable and income from solar panels, is recognised in the period to which it relates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 10 years.

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

3. ACCOUNTING POLICIES - continued

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.

Freehold property - 2% on cost, contained within freehold property is £280k attributed to land, this is not depreciated.
Improvements to property - 10% on cost
Fixtures and fittings - 10% on cost, 25% on cost, 50% on cost, 15 years straight line, 25 years straight line
Motor vehicles - 25% on cost, see below

Contained within motor vehicles are investment bikes, these are held at a residual value of £287.2k (2023: £287.2k) as the assets are expected to appreciate over time. These values are set on an individual basis. No further depreciation is charged.

Tangible fixed assets are stated at costs less accumulated depreciation and accumulated impairment losses.

Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised costs using the effective interest method.

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.

Investment property is initially recognised at cost and then subsequently revalued to an appropriate market rate annually by the directors Revaluations are recognised through the profit and loss account however profits only become distributable when the value is realised through sale. Where changes in value result in a carrying value lower than cost, historic revaluations are reversed and the original cost is impaired through the profit and loss, reducing distributable profits.

The investment property is a leasehold property and has 40 years remaining on the lease.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.


BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Hire purchase and leasing commitments
At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases -
Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance leases.

Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.

Assets held under finance leases are included in tangible fixed assets and depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

Operating leases -
Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

The company offers a lifetime warranty on all new bikes purchases and therefore provides for expected cost of this per bike at purchase. This is then written off after 5 years as this is the expected life cycle of the bike.

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

3. ACCOUNTING POLICIES - continued

Grant income
Income received in relation to grants are classified either as relating to revenue or to assets.

Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Where a timing difference arises, the income is held on the balance sheet. When received in arrears the expected income is recognises as a debtor so long as the relevant conditions have been satisfied. When received in advance of costs, the income is held as deferred income and systematically released to the profit and loss in the periods the cost is incurred.

Grants relating to assets are recognised initially as deferred income and released to other income on a systematic basis over the expected useful life of the asset.

Manufacturer bonuses
Manufacturer bonuses are earned on meeting of certain criteria. Upon meeting the agreed criteria, the estimated bonus receivable is recognised as accrued income, and is credited to cost of sales to offset against the purchase costs.

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

4. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below:

(i) Stock provisioning
The company's products are subject to changing industry demands and market trends. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock as well as applying assumptions around the anticipated saleability of stock. A review has been made of last sale dates which gives management a basis for assumptions on if a product will have future sales, if no sale has been made in the last year then a provision of 50% is considered, increasing to 100% on stock with no sales in the last 2 years.

(ii) Manufacturer sales bonus
The company is given certain sale targets to hit from suppliers of key lines of stock. If sale targets are met then the company is awarded a sales bonus. Where the timing of this bonus is not yet received at year end, the company will review sales in the period against targets set to estimate if bonuses will be met. If management consider the bonus to be attainable then a pro-rated bonus is treated as accrued income in the accounts.

(iii) Investment property valuation
As described in the notes to the financial statements, investment properties are stated at fair value based on the valuation of the directors. Although this has not been formally valued by a third party, the directors used observable market prices adjusted as necessary for any difference in the future plans for or condition of the specific asset. This has been reassessed and due to the stability of the market over the last year, this value has remained consistent.

(iv) Impairment of, and rights to, improvements to property
The directors have assessed the value of the property as a whole and feel that the value attributed to the freehold and improvements is far in excess of their cost value, based on future generatable profits and revenue levels. On this basis they feel no impairment is considered necessary. One of the showrooms is owned fully by the company and the honda showroom and workshop is owned by the directors' pension scheme. However they are entitled to use the property and receive the benefits and obligations associated with the improvements to the property as a result of their continued use of the premises and ongoing repairs and renewals costs incurred.

(v) Lifetime Warranty Provision
The company offers a lifetime warranty on all new bike purchases. The directors therefore provide for an estimate of the potential costs arising from this for each bike sold. The uncertainty is surrounding the level of claims that will be realised in the lifecycle of each bike. The directors compare the provision made to historic data of claims make to ensure this estimate is reasonable and will add a certain percentage to the provision each month for each bike. This provison is then written off after 5 years, as this is the estimated life of a new bike, with most customers selling their bikes after 5 years and replacing it with a new one. The warranty does not pass on to the new owner.

5. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

The analysis of the company's continuing revenue for the year from continuing operations is as follows:

2024 2023

£ £
Sales of goods9,842,71810,267,143
Rendering of services788,038678,908
10,630,75610,946,051

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

6. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,423,391 1,426,141
Social security costs 133,422 132,493
Other pension costs 128,577 29,704
1,685,390 1,588,338

The average number of employees during the year was as follows:
2024 2023

Operational 43 41
Administration and other management 10 10
53 51

Directors remuneration, including pension contributions made to the money purchase scheme, totals £282,495 for the year ended 31 December 2024 (2023: £222,550).

In the year to 31 December 2024, the highest paid director received gross wages of £60,004 (2023: £85,000) and defined pension contributions of £49,750 (2023: £2,550).

No additional benefits in kind have been provided to the directors.

Three directors (2023: 1) have received employers pension contributions under a money purchase pension scheme.

7. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 6,300 4,981
Other operating leases 43,000 43,000
Depreciation - owned assets 102,463 98,916
Profit on disposal of fixed assets - (12,599 )
Computer software amortisation 115 -
Auditors' remuneration 9,850 11,500
Auditors' remuneration for non audit work 3,475 7,125

Included within Legal and Professional fees are payments to a company connected to the audit firm, totalling £3,000, for non-audit advisory work (2023: £35,100).

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest payable 186 33,286

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 120,900 200,800
Over/under provision of tax 20 (715 )
Total current tax 120,920 200,085

Deferred tax (1,000 ) (13,000 )
Tax on profit 119,920 187,085

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 538,019 794,735
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
23.521%)

134,505

186,930

Effects of:
Expenses not deductible for tax purposes 763 6,526
Depreciation in excess of capital allowances 11,619 7,367
Adjustments to tax charge in respect of previous periods - (738 )
Movement in deferred tax provision (1,000 ) (13,000 )
Group relief (25,967 ) -
Total tax charge 119,920 187,085

10. DIVIDENDS
2024 2023
£    £   
Interim 1,610,000 400,000

11. DISCONTINUED OPERATIONS

During the prior year, Bridge Motorcycles Limited relinquished the Yamaha franchise. All Yamaha stock was returned to the manufacturer and the company was refunded for this stock by Yamaha.

All assets related to the franchise were sold at book value as recorded in the accounts, and therefore there was no profit or loss on disposal of operations generated.

All items within the profit and loss account relating to the Yamaha franchise have been disclosed as discontinued operations in the comparative period.

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

12. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 13,750
At 31 December 2024 13,750
AMORTISATION
Amortisation for year 115
At 31 December 2024 115
NET BOOK VALUE
At 31 December 2024 13,635

13. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 1,477,982 139,475 747,373 329,701 2,694,531
Additions - - 60,074 - 60,074
Disposals - - (18,454 ) (7,000 ) (25,454 )
At 31 December 2024 1,477,982 139,475 788,993 322,701 2,729,151
DEPRECIATION
At 1 January 2024 600,266 55,082 496,030 11,502 1,162,880
Charge for year 23,960 12,673 55,214 10,616 102,463
Eliminated on disposal - - (18,454 ) - (18,454 )
At 31 December 2024 624,226 67,755 532,790 22,118 1,246,889
NET BOOK VALUE
At 31 December 2024 853,756 71,720 256,203 300,583 1,482,262
At 31 December 2023 877,716 84,393 251,343 318,199 1,531,651

14. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 350,000
NET BOOK VALUE
At 31 December 2024 350,000
At 31 December 2023 350,000

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

14. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2005 50,000
Valuation in 2001 60,000
Valuation in 2022 81,317
Cost 158,683
350,000

The directors have conducted an annual review of the carrying value of the investment property and believe this to be reflective of the property's open market value.

15. STOCKS
2024 2023
£    £   
Stocks 2,957,532 3,162,496

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,081 41,379
Amounts owed by group undertakings 1,898,127 1,740,435
Other debtors 1,911,635 1,774,615
Prepayments and accrued income 118,847 140,335
3,941,690 3,696,764

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,348,265 1,227,996
Amounts owed to group undertakings 2,135,237 525,237
Tax 120,900 200,800
Social security and other taxes 1,018 32,099
VAT 55,302 65,169
Other creditors 20,471 1,500
Accruals and deferred income 80,905 151,959
3,762,098 2,204,760

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 44,552 45,143
Between one and five years 21,577 66,129
66,129 111,272

The amount paid in the year under leasing arrangements (excluding the premises rental) is shown in Note 7 as the aggregate of hire of plant and machinery. There is a formal lease in place for the rent of the premises, which is included in other operating leases in Note 7.

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

19. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Trade creditors 1,060,262 1,046,225

The above debt within trade creditors is secured against stock from the suppliers to which it relates.

20. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 159,000 160,000
Other provisions 64,213 64,403
223,213 224,403

Deferred Other
tax provisions
£    £   
Balance at 1 January 2024 160,000 64,403
Utilised during year (1,000 ) -
Unused amounts reversed during year - (190 )
Balance at 31 December 2024 159,000 64,213

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares £1000 1,000 1,000

These shares have attached to them voting rights, dividend rights and capital distribution (including on winding up) rights, they do not confer any right of redemption.

22. RESERVES
Retained
earnings
£   

At 1 January 2024 6,760,706
Profit for the year 418,099
Dividends (1,610,000 )
At 31 December 2024 5,568,805

The split between distributable and non-distributable reserves is as follows:
20242023
££
Distributable reserves5,485,3176,617,218
Non-distributable reserves143,488143,488
5,628,8056,760,706

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

23. ULTIMATE PARENT COMPANY

Southtown Holdings Limited is regarded by the directors as being the company's ultimate parent company.

Consolidated accounts are prepared for the group in the name of the Ultimate Parent Company. These are available for download from the Companies House website or can be requested from their offices at Crown Way, Cardiff CF14 3UZ.

Southtown Holdings Limited was incorporated on 31 March 2023. The company became the ultimate parent company in the prior year, on 13 July 2023 as a result of a share for share exchange with the immediate parent company, Southtown Investment Company Limited.

24. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2024 2023
£    £   
Rendering of services 6,786 6,922
Services recharged 1,476 3,048

An entity under joint control provides warranty cover to some of the company's customers.

Loans to related parties - entities with joint control or significant influence
2024 2023
£    £   
At start of the period 1,425 196,336
Services recharged - 1,425
Repaid (1,425 ) (210,050 )
Interest transactions - 13,714
At end of the period - 1,425

Included within the brought forward balance is a loan to a connected company. There were set repayment terms agreed on this loan, however this was repaid early before the year end. An interest rate of 7% was applied in the prior year.

Loans from related parties - directors
2024 2023
£    £   
At start of the period - 185,913
Advanced - 859,000
Repaid - (1,070,969 )
Interest transactions - 26,055

Key management personnel compensation comprises directors' remuneration which is disclosed in Note 6. There are no set repayment terms and interest of Base Rate + 6.5% was being charged on the loan. This loan is now held in the ultimate parent company, after being transferred at the end of the prior year.

Loans to related parties - other related parties
2024 2023
£    £   
At start of the period 1,059,121 1,359,121
Repaid - (388,416 )
Interest transactions 74,138 88,416
At end of period 1,133,259 1,059,121

BRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 00748232)

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

24. RELATED PARTY DISCLOSURES - continued

The loan is provided to a company in which a director holds a 33% shareholding. An interest rate of 7% was applied and there are no set repayment terms.

Other

Lease charges of £43,000 net of VAT (2023: £43,000) were incurred by a Small Self Administered Pension Scheme of which a director of the company is a trustee and beneficiary. Rent is payable by the company to the scheme in respect of properties owned by the scheme, for which there is a formal lease agreement in place.

Within the prior year, there were also ad-hoc plumbing services provided by a close family member of a director resulting in charges of £2,187, Current year: £Nil.

25. ULTIMATE CONTROLLING PARTY

Due to the overall shareholdings of the parent company, there is not considered to be any one ultimate controlling party.