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Registered number: 14638487
TYNE BRIDGING FINANCE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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TYNE BRIDGING FINANCE LIMITED
REGISTERED NUMBER: 14638487
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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TYNE BRIDGING FINANCE LIMITED
REGISTERED NUMBER: 14638487
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.
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S M Moore
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The notes on pages 3 to 8 form part of these financial statements.
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TYNE BRIDGING FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Tyne Bridging Finance Limited is a private company (14638487) limited by shares incorporated in England and Wales. The registered office is Mercantile House, Silverlink, Wallsend, United Kingdom, NE28 9ND.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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TYNE BRIDGING FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, excluding directors (who are not remunerated via this company), during the year was 0 (2023 - 0).
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TYNE BRIDGING FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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TYNE BRIDGING FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Due after more than one year
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Prepayments and accrued income
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Cash and cash equivalents
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TYNE BRIDGING FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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The following liabilities were secured:
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Details of security provided:
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Included within other creditors is a block discounting facility of £579,019 (2023 - £Nil), which was entered into on 14 October 2024.
The facility is secured by way of a fixed and floating charge over the Company's assets.
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TYNE BRIDGING FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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At the year end £7,964,000 (2023 - £5,084,000) was owed to Keith Pattinson Limited, a company which is ultimately controlled by K A Pattinson, the majority shareholder of the Company. During the year interest of £572,700 (2023 - £60,888) was charged by Keith Pattinson Limited. This loan is unsecured, attracts interest of 3% per annum and is repayable on demand.
At the year end £612,465 (2023 - £612,465) and accrued interest of £55,122 (2023 - £Nil) was owed to K A Pattinson the majority shareholder of the Company and £422,409 (2023 - £387,531) was owed to K Pattinson Discretionary Trust, an entity of which K A Pattinson is a trustee. The loans are unsecured and attract interest of 7.5% per annum and are repayble on demand.
At the year end £2,141 (2023 - £49,999) was owed to J Beckwith, a Director (until 24 March 2025) and shareholder of the Company. This amount is unsecured, attracts interest of 7.5% per annum and is repayable on demand.
During the year loans were provided to JGJB Properties Limited, a company which is controlled by J Beckwith, a director of the Company at the time and up to 24 March 2025, to purchase properties. The total value of the loans were £517,000. Interest was charged on the loans at a rate lower than market rate of between 8.5% and 10%. At the year end all loans were repaid in full.
At the year end £150,000 (2023 - £Nil) was owed to Thought Consultancy Limited, a company which is ultimately controlled by K A Pattinson, the majority shareholder of the Company. During the year interest of £4,589 (2023 - £Nil) was charged by Thought Consultancy Limited. This loan is unsecured, attracts interest of 7.5% per annum and is repayable on demand.
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