Bridge Bearings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00616845 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Bridge Bearings Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr I A Bytheway

Mr R P Hickman

SECRETARY:

Mr I A Bytheway

REGISTERED OFFICE:

Sandy Lane

Titton

Stourport-on-Severn

Worcestershire

DY13 9QA

REGISTERED NUMBER:

00616845 (England and Wales)

AUDITORS:

Lewis Smith & Co.

Chartered Certified Accountants

Statutory Auditors

The Old Doctor's House

74 Grange Road

Dudley

West Midlands

DY1 2AW

BANKERS:

Barclays Bank Plc

6th Floor

One Snowhill

Snowhill Queensway

Birmingham

B4 6GN

FIXED ASSETS

Tangible assets

4

38,402

38,165

CURRENT ASSETS

Stocks

522,448

945,648

Debtors

2,537,076

1,378,635

Cash at bank and in hand

2,770,370

3,271,893

5,829,894

5,596,176

CREDITORS

Amounts falling due within one year

1,579,443

1,288,074

NET CURRENT ASSETS

4,250,451

4,308,102

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,288,853

4,346,267

PROVISIONS FOR LIABILITIES

6

9,601

9,542

NET ASSETS

4,279,252

4,336,725

CAPITAL AND RESERVES

Called up share capital

7

7,000

Capital redemption reserve

3,000

Retained earnings

4,269,252

4,326,725

SHAREHOLDERS' FUNDS

4,279,252

4,336,725

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr I A Bytheway - Director

1.	STATUTORY INFORMATION

Bridge Bearings 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Inventories have been valued at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs bringing stocks to their present location and condition.

In respect of work in progress, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Debtors and creditors with no stated interest rate receivable or payable and under normal trading terms, are recorded at their transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the contracted date. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Where there is no formal leasing agreement in place, it is not considered that there is a future leasing

commitment. For leases where a formal agreement is in place, the total future commitments relating to such

leases are disclosed in the financial statements.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

917,696

Additions

6,000

At 31 December 2024

923,696

DEPRECIATION

At 1 January 2024

879,531

Charge for year

5,763

At 31 December 2024

885,294

NET BOOK VALUE

At 31 December 2024

38,402

At 31 December 2023

38,165

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

27,500

36,000

Between one and five years

-

27,500

63,500

6.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

Accelerated capital allowances

9,601

9,542

Deferred

tax

£

Balance at 1 January 2024

9,542

Accelerated capital allowances

59

Balance at 31 December 2024

9,601

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

7,000

Ordinary

£1

7,000

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Alan Beale (FCCA) (Senior Statutory Auditor)

for and on behalf of Lewis Smith & Co.

9.	RELATED PARTY DISCLOSURES

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 subsidiaries within the group.

Within debtors are amounts owed by group undertakings of £2,006,648 (2023 - £1,000,000) and within creditors there are amounts owed to group undertakings of £1,509,310 (2023 - £1,031,518).

10.	ULTIMATE PARENT COMPANY

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

The immediate parent company of Bridge Bearings Limited is New Conveyor Limited. Galton Bridge Enterprises Limited owns the entire share capital of New Conveyor Limited. Galton Bridge Holdings Limited owns the entire share capital of Galton Bridge Enterprises Limited.

The registered office of Bridge Bearings Limited is also that of Galton Bridge Enterprises Limited and Galton Bridge Holdings Limited.

Copies of the financial statements for all companies above are available from Companies House.

11.	ULTIMATE CONTROLLING PARTY

At the year end the directors Mr I A Bytheway and Mr R P Hickman were the ultimate controlling parties of Bridge Bearings Limited.

This is due them being the equal owners of Galton Bridge Holdings Limited who (as per note 13 above) is the ultimate parent company of Bridge Bearings Limited.