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Registration number: NI655737

Bridge Auto Electrics Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Bridge Auto Electrics Limited

(Registration number: NI655737)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

25,287

8,949

Current assets

 

Stocks

5

15,935

15,748

Debtors

6

14,838

7,881

Cash at bank and in hand

 

37,693

40,814

 

68,466

64,443

Creditors: Amounts falling due within one year

7

(38,678)

(32,513)

Net current assets

 

29,788

31,930

Net assets

 

55,075

40,879

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

54,975

40,779

Shareholders' funds

 

55,075

40,879

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Mr David George Hanna
Director

 

Bridge Auto Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 31 Pennybridge Industrial Estate, Ballymena, Co Antrim, BT42 3HB.

These financial statements were authorised for issue by the Board on 18 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Bridge Auto Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% straight-line basis

Fixtures, fittings and equipment

20% straight-line basis

Short-term debtors and creditors

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 income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Bridge Auto Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

11,930

10,014

-

21,944

Additions

-

-

20,000

20,000

At 30 September 2024

11,930

10,014

20,000

41,944

Depreciation

At 1 October 2023

5,565

7,430

-

12,995

Charge for the year

1,195

1,717

750

3,662

At 30 September 2024

6,760

9,147

750

16,657

Carrying amount

At 30 September 2024

5,170

867

19,250

25,287

At 30 September 2023

6,365

2,584

-

8,949

Included within the net book value of land and buildings above is £5,170 (2023 - £6,365) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

15,935

15,748

6

Debtors

Current

2024
£

2023
£

Trade debtors

14,838

6,981

Other debtors

-

900

 

14,838

7,881

 

Bridge Auto Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

12,756

5,509

Taxation and social security

3,271

3,288

Accruals and deferred income

1,250

1,250

Other creditors

21,401

22,466

38,678

32,513

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100