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Bainbridge (UK) Services Limited
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for the year ended 31 March 2025
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Registered number: 06748349
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Bainbridge (UK) Services Limited - Registered number: 06748349
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Statement of financial position
as at 31 March 2025
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Creditors: amounts falling due within one year
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The director considers 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 director acknowledges his 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 comprehensive income 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 by:
The notes on pages 3 to 8 form part of these financial statements.
Page 1
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Bainbridge (UK) Services Limited - Registered number: 06748349
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Statement of financial position (continued)
as at 31 March 2025
Page 2
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Bainbridge (UK) Services Limited
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Notes to the financial statements
For the year ended 31 March 2025
Bainbridge (UK) Services Limited is a company limited by shares incorporated in England & Wales. The registered office and principal place of business is Montpelier House, 106 Brompton Road, 5th Floor, London, SW3 1JJ. The registered number is 06748349.
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The following principal accounting policies have been applied:
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Turnover represents income derived in respect of the provision of administrative services and subletting of office space during the year.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
Page 3
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Bainbridge (UK) Services Limited
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Notes to the financial statements
For the year ended 31 March 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
The tax expense for the year comprises current tax. 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 reporting date in the countries where the Company operates and generates income.
Tax credits in relation to research and development are recognised in the Statement of comprehensive income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Page 4
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Bainbridge (UK) Services Limited
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Notes to the financial statements
For the year ended 31 March 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Over the life of the lease
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment income represents profits allocated from the investment in Bainbridge Partners LLP.
Investments are measured at cost less accumulated impairment if there is no active market available and the fair value cannot be measured reliabily.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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.
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.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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Average number of employees
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The average monthly number of employees, including directors, during the year was 11 (2024 -11).
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Page 5
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Bainbridge (UK) Services Limited
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Notes to the financial statements
For the year ended 31 March 2025
Page 6
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Bainbridge (UK) Services Limited
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Notes to the financial statements
For the year ended 31 March 2025
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Due after more than one year
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Accruals and deferred income
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Page 7
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Bainbridge (UK) Services Limited
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Notes to the financial statements
For the year ended 31 March 2025
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Related party transactions
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At 31 March 2025 Bainbridge (UK) Services Limited owed Mr A B Haddad (director) £228,360 (2024: £228,360). The maximum amount outstanding to Mr A B Haddad during the year was £228,360 (2024: £228,360).
During the year, the company charged Bainbridge Partners LLP £2,992,725 (2024: £3,647,540) in relation to
administration costs and Bainbridge Partners LLP incurred expenses totalling £nil (2024: £nil) on behalf of the company. At 31 March 2025, £3,971,768 (2024: £4,401,185) remained payable by Bainbridge Partners LLP to the company.
Bainbridge Partners LLP is considered to be a related party by virtue of being under common control.
No interest is payable on any of the above amounts.
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Page 8
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