Company registration number 05620208 (England and Wales)
BRIDGE RECRUITMENT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
BRIDGE RECRUITMENT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BRIDGE RECRUITMENT SERVICES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
260,000
325,000
Current assets
Debtors
5
816,162
844,741
Cash at bank and in hand
7,292
10,697
823,454
855,438
Creditors: amounts falling due within one year
6
(1,012,102)
(1,119,945)
Net current liabilities
(188,648)
(264,507)
Total assets less current liabilities
71,352
60,493
Creditors: amounts falling due after more than one year
7
(3,334)
(14,167)
Net assets
68,018
46,326
Capital and reserves
Called up share capital
20
20
Profit and loss reserves
67,998
46,306
Total equity
68,018
46,326

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 August 2025 and are signed on its behalf by:
Michael Nugent
Christopher Hibberd
Director
Director
Company registration number 05620208 (England and Wales)
BRIDGE RECRUITMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Bridge Recruitment Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Westgate Chambers, 8a Elm Park Road, Pinner, Middlesex, HA5 3LA.

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 sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover
Turnover represents amounts receivable for services, net of value added tax and trade discounts and recognised when entitled to the income.
1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BRIDGE RECRUITMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

BRIDGE RECRUITMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.11
Sales financing
The company has entered into an invoice financing agreement, whereby it is permitted to draw up a fixed percentage, the face value of debts transferred to the sales invoicing company. Advances received against such debts are disclosed in the balance sheet as current liabilities and the gross amounts of the debts financed are included in trade debtors.
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
15
24
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
1,300,000
Amortisation and impairment
At 1 April 2024
975,000
Amortisation charged for the year
65,000
At 31 March 2025
1,040,000
Carrying amount
At 31 March 2025
260,000
At 31 March 2024
325,000
BRIDGE RECRUITMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
798,521
820,818
Amounts owed by group undertakings
7,775
11,481
Other debtors
694
3,066
Prepayments and accrued income
9,172
9,376
816,162
844,741

Trade debtors include amounts subject to invoice financing of £820,818 (2023: £862,285).

6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
18,384
20,661
Amounts owed to group undertakings
554,766
583,010
Taxation and social security
168,195
198,001
Other creditors
259,836
305,270
Accruals and deferred income
921
3,003
1,012,102
1,119,945

Other creditors includes amounts payable to the invoice financing company of £281,872 (2023: £485,833).

7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
3,334
14,167

The other creditors are due within five years.

BRIDGE RECRUITMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
13,500
55,650
2025-03-312024-04-01falsefalsefalse14 August 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityMichael NugentChristopher HibberdDavid McgregorMr M Nugent056202082024-04-012025-03-31056202082025-03-31056202082024-03-3105620208core:Goodwill2025-03-3105620208core:Goodwill2024-03-3105620208core:ShareCapital2025-03-3105620208core:ShareCapital2024-03-3105620208core:RetainedEarningsAccumulatedLosses2025-03-3105620208core:RetainedEarningsAccumulatedLosses2024-03-3105620208bus:CompanySecretaryDirector12024-04-012025-03-3105620208bus:Director12024-04-012025-03-3105620208core:Goodwill2024-04-012025-03-31056202082023-04-012024-03-3105620208core:Goodwill2024-03-3105620208core:CurrentFinancialInstruments2025-03-3105620208core:CurrentFinancialInstruments2024-03-3105620208core:Non-currentFinancialInstruments2025-03-3105620208core:Non-currentFinancialInstruments2024-03-3105620208bus:PrivateLimitedCompanyLtd2024-04-012025-03-3105620208bus:FRS1022024-04-012025-03-3105620208bus:AuditExemptWithAccountantsReport2024-04-012025-03-3105620208bus:Director22024-04-012025-03-3105620208bus:Director32024-04-012025-03-3105620208bus:CompanySecretary12024-04-012025-03-3105620208bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-3105620208bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP