REGISTERED NUMBER: 07024852 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BRIDGEWATER ESTATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N E Johnson

SECRETARY:

Ms J Thompson

REGISTERED OFFICE:

St Andrews House

11 Dalton Court

Commercial Road, Blackburn Interchange

Darwen

Lancashire

BB3 0DG

REGISTERED NUMBER:

07024852 (England and Wales)

ACCOUNTANTS:

Hayes & Co

Chartered Accountants

St Andrews House

11 Dalton Ct,Commercial Rd

Blackburn Interchange

Darwen

Lancashire

BB3 0DG

FIXED ASSETS

Tangible assets

4

6,559

5,428

Investments

5

1

1

Investment property

6

4,960,000

5,075,000

4,966,560

5,080,429

CURRENT ASSETS

Debtors

7

5,364,936

5,022,074

Cash at bank and in hand

49,266

97,774

5,414,202

5,119,848

CREDITORS

Amounts falling due within one year

8

2,103,263

1,807,152

NET CURRENT ASSETS

3,310,939

3,312,696

TOTAL ASSETS LESS CURRENT LIABILITIES

8,277,499

8,393,125

CREDITORS

Amounts falling due after more than one year

9

(5,149,500

)

(5,149,500

)

PROVISIONS FOR LIABILITIES

(570,746

)

(563,499

)

ACCRUALS AND DEFERRED INCOME

(55,183

)

(55,447

)

NET ASSETS

2,502,070

2,624,679

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

11

2,275,738

2,397,985

Retained earnings

226,330

226,692

2,502,070

2,624,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

N E Johnson - Director

1.	STATUTORY INFORMATION

Bridgewater Estates Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 7024852 and the registered office is St.Andrews House, 11 Dalton Court, Commercial Road,Blackburn Interchange, Darwen, Lancashire, BB3 0DG.

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 as modified by the revaluation of certain assets.

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 £.

Significant judgements and estimates

In the application of the company's accounting polices, 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 that the directors have 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 on going basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents the consideration received on the rental of property and is recorded in the financial statements net of Value Added Tax. Rentals are recognised according to the period to which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost and are measured at cost less accumulated depreciation and any accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial Instruments' of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's statement of financial position 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.

Basic financial assets

Basic financial assets, which include trade receivable, cash and bank balances and loans to fellow group companies are initially recorded 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 value rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

The company has no financial instruments that are classified as other financial assets.

Impairment of financial assets

Financial assets, other than those held at fair value through the income statement, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result if one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows have been affected. If an assets is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies 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 receipts 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 and 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.

Other financial liabilities

The company has no financial instruments that are classified as other financial liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

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

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.

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.

Going concern

The director's have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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.

The cost of unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2023

62,428

3,972

66,400

Additions

1,600

1,698

3,298

At 30 September 2024

64,028

5,670

69,698

DEPRECIATION

At 1 October 2023

58,468

2,504

60,972

Charge for year

1,112

1,055

2,167

At 30 September 2024

59,580

3,559

63,139

NET BOOK VALUE

At 30 September 2024

4,448

2,111

6,559

At 30 September 2023

3,960

1,468

5,428

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2023

and 30 September 2024

1

NET BOOK VALUE

At 30 September 2024

1

At 30 September 2023

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

5,075,000

Revaluations

(115,000

)

At 30 September 2024

4,960,000

NET BOOK VALUE

At 30 September 2024

4,960,000

At 30 September 2023

5,075,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2016

2,960,475

Valuation in 2024

(115,000

)

Cost

2,114,525

4,960,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

56,958

49,065

Amounts owed by associates

5,255,991

4,957,162

Other debtors

44,010

13,761

Prepayments

7,977

2,086

5,364,936

5,022,074

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

560,628

472,514

Trade creditors

43,145

28,585

Amounts owed to group undertakings

88,623

88,657

Amounts owed to associates

1,372,277

1,140,967

Tax

14,620

53,666

Social security and other taxes

2,983

1,842

VAT

16,799

17,244

Directors' current accounts

4,188

3,677

2,103,263

1,807,152

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Handelsbanken Loan

5,149,500

5,149,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

5,368,000

5,368,000

The Bank loans are secured by way of a fixed and floating charge over the assets of the Company and also the properties owned by Bridgewater Estates Mcr Limited and Bridgewater Estates (Macc) Limited, companies under common control.

11.

RESERVES

Fair

value

reserve

£

At 1 October 2023

2,397,985

Revaluation Adjustment

(122,247

)

At 30 September 2024

2,275,738

The fair value reserve is a non distributable reserve.