Bridge Energy (NI) Limited iXBRL

Company Registration Number: NI623946

Bridge Energy (NI) Limited

Unaudited Financial Statements

for the financial year ended 31 March 2025

Bridge Energy (NI) Limited

DIRECTOR AND OTHER INFORMATION


Director	Mr. James Cromie


Company Registration Number	NI623946


Registered Office and Business Address	31 Reservoir Road
	Banbridge
	Co. Down
	BT32 4LD


Accountants	MG accountants
	(Portadown)
	25-27 Carleton Street
	Portadown
	Co. Armagh
	BT62 3EP
	Northern Ireland


Bankers	AIB
	35 University Road
	Belfast
	Antrim
	BT7 1ND
	United Kingdom

Bridge Energy (NI) Limited

Company Registration Number: NI623946

BALANCE SHEET

as at 31 March 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

2,171,427

2,356,888

─────────

Current Assets

Debtors

742,896

496,967

Cash and cash equivalents

352,314

314,835

─────────

1,095,210

811,802

─────────

Creditors: amounts falling due within one year

(432,433)

(451,060)

─────────

Net Current Assets

662,777

360,742

─────────

Total Assets less Current Liabilities

2,834,204

2,717,630

Creditors:

amounts falling due after more than one year

(3,782,509)

(3,626,654)

─────────

Net Liabilities

(948,305)

(909,024)

═════════

Capital and Reserves

Called up share capital

Retained earnings

(948,315)

(909,034)

─────────

Equity attributable to owners of the company

(948,305)

(909,024)

═════════

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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.

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

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 23 December 2025



________________________________
Mr. James Cromie
Director

Bridge Energy (NI) Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

Bridge Energy (NI) Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 31 Reservoir Road, Banbridge, Co. Down, BT32 4LD which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover is the amount derived from the sale of electricity in the normal course of business, measured at the fair value of the consideration received or receivable, net of trade discounts and value added tax. All revenue is generated in the United Kingdom.

Revenue is recognised on confirmation of ROC's generated and the export value of electricity to the national grid on a monthly basis.

Interest-bearing borrowings classified as basic financial instruments

Interest-bearing borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

5% Straight line

Plant and Machinery

33 1/3 % Straight Line

Depreciation is not charged in the year of acquisition.

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing

Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.

Trade and other debtors

Trade and other debtors are initially recognised at transaction price. Rceivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand. In the Balance Sheet bank overdrafts are shown within Creditors.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired until the asset is ready for its intended use. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other creditors

Trade and other creditors are initially recognised at transaction value in which case they are stated at cost.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including director, during the financial year was 1, (2024 - 1).

2025

2024

Number

Number

Directors

═════════

Tangible assets

Plant and

Total

machinery

Cost

At 1 April 2024

3,709,228

─────────

At 31 March 2025

3,709,228

─────────

Depreciation

At 1 April 2024

1,352,340

Charge for the financial year

185,461

─────────

At 31 March 2025

1,537,801

─────────

Net book value

At 31 March 2025

2,171,427

═════════

At 31 March 2024

2,356,888

═════════

The above assets are held as security against the loan borrowings presented in note 8.

Debtors

2025

2024

Amounts owed by group undertakings

190,328

190,328

Other debtors

121,187

Director's current account (Note 12)

75,189

Prepayments and accrued income

356,192

306,629

─────────

742,896

496,967

═════════

Amounts owed by group companies represents money borrowed by Bridge Energy (NI) Limited on behalf of the holding company, Bridge Energy Services (NI) Limited, to fund the acquisition of shares in the subsidiary by the parent.


6.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Loan borrowings	316,520	316,520
	Trade creditors	89,730	88,905
	Taxation (Note 8)	3,368	22,531
	Accruals	22,815	23,104
		─────────	─────────
		432,433	451,060
		═════════	═════════

Creditors

2025

2024

Amounts falling due after more than one year

Loan borrowings

3,782,509

3,626,654

═════════

Loan borrowings

Repayable in one year or less, or on demand (Note 6)

316,520

316,520

Repayable in five years or more

3,782,509

3,626,654

─────────

4,099,029

3,943,174

═════════

On 18 August 2017 the company refinanced its borrowings securing a 15 year term loan facility at a fixed rate of 7.8% per annum, with Greenmead AD Limited. Greenmead AD Limited hold a fixed and floating charge over lands at 31 Reservoir Road, Banbridge, County Down which covers all the property or undertaking of the company.


8.	Taxation	2025	2024
		£	£

	Creditors:
	VAT	3,368	22,531
		═════════	═════════

Details of creditors

Security given in respect of creditors

Lease dated 3 June 2014 made between (1) James Cromie and (2) Bridge Energy (NI) Limited being a lease of the land and premises more particularly described therein and known as lands adjacent to 31 Reservoir Road, Banbridge, County Down now comprised in Land Registry Folio No. DN189648 County Down. Contains fixed charge(s), floating charge(s) and negative pledge.

10.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 March 2025.

11.

Contingent liabilities

The company does not have any contingent liabilities to disclose at the year end.

12.

Director's advances, credits and guarantees

During the financial year, the company made a loan to a director amounting to £80,000. Interest at the rate of 2.25% per annum is charged on a strict basis on the loan.

13.

Post-Balance Sheet Events

There have been no events affecting the company since the period end which would impact these financial statements.

14.

Related Party Transactions

Bridge Energy Services (NI) Limited (‘BES‘) holds 510 A ordinary Shares and 490 B ordinary shares in the company at the year end. 100% of the share capital of BES is owned by James Cromie, who is also a director of the company. The company entered a lease agreement in 2014 to rent land from James Cromie for a period of 21 years from June 2014 to June 2035 at an annual initial rent of £10,000 per annum, subject to annual RPI linked increases. Other transactions with James Cromie during the year amounted to £586,820 for slurry and silage purchases. These transactions are at market value. At the year end, a balance of £58,426 was owed to James Cromie.