Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Lois Marie Duncan 01/01/2010 Graham Mogford 05/12/2005 Marie Mogford 05/12/2005 30 January 2026 The principal activity of the limited liability partnership is a childrens pre-school nursery. SO300782 2025-03-31 SO300782 bus:Director1 2025-03-31 SO300782 bus:Director2 2025-03-31 SO300782 bus:Director3 2025-03-31 SO300782 2024-03-31 SO300782 core:CurrentFinancialInstruments 2025-03-31 SO300782 core:CurrentFinancialInstruments 2024-03-31 SO300782 core:LandBuildings 2024-03-31 SO300782 core:OtherPropertyPlantEquipment 2024-03-31 SO300782 core:LandBuildings 2025-03-31 SO300782 core:OtherPropertyPlantEquipment 2025-03-31 SO300782 2024-04-01 2025-03-31 SO300782 bus:FilletedAccounts 2024-04-01 2025-03-31 SO300782 bus:SmallEntities 2024-04-01 2025-03-31 SO300782 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SO300782 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 SO300782 bus:Director1 2024-04-01 2025-03-31 SO300782 bus:Director2 2024-04-01 2025-03-31 SO300782 bus:Director3 2024-04-01 2025-03-31 SO300782 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 SO300782 2023-01-01 2024-03-31 SO300782 core:LandBuildings 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: SO300782 (Scotland)

# THE BRIDGES PARTNERSHIP LLP

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THE BRIDGES PARTNERSHIP LLP

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THE BRIDGES PARTNERSHIP LLP

## BALANCE SHEET

As at 31 March 2025
THE BRIDGES PARTNERSHIP LLP

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 918,437 |  | 918,548
|  | 918,437 |  | 918,548
Current assets |  |  |  |
Debtors | 4 | 3,510 |  | 4,304
Cash at bank and in hand |  | 201,440 |  | 111,577
|  | 204,950 |  | 115,881
Creditors: amounts falling due within one year | 5 | ( 39,430) |  | ( 35,623)
Net current assets |  | 165,520 |  | 80,258
Total assets less current liabilities |  | 1,083,957 |  | 998,806
Net assets attributable to members |  | 1,083,957 |  | 998,806
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Other amounts |  | 1,083,957 |  | 998,806
|  | 1,083,957 |  | 998,806
Members' other interests |  |  |  |
|  | 0 |  | 0
|  | 1,083,957 |  | 998,806
Total members' interests |  |  |  |
Loans and other debts due to members |  | 1,083,957 |  | 998,806
|  | 1,083,957 |  | 998,806

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The Bridges Partnership LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of The Bridges Partnership LLP (registered number: SO300782) were approved and authorised for issue by the Board of Directors on 30 January 2026. They were signed on its behalf by:

Graham Mogford Designated member |

THE BRIDGES PARTNERSHIP LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THE BRIDGES PARTNERSHIP LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

The Bridges Partnership LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in Scotland. The address of the LLP's registered office is 1 Prospect Place, Arnhall Business Park, Westhill, Aberdeen, AB32 6SY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the members have continued to adopt the going concern basis of accounting in preparing the financial statements.

##### Turnover

Turnover represents the amounts receivable for the services net of VAT.
Revenue is recognised as the services are provided. Any unpaid services are carried as a debtor in the Balance sheet

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the LLP is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The LLP operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery etc. | 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured 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 rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 payments 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 or 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.

##### Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

##### Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

##### Provisions

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| Year ended 31.03.2025 |  | Period from 01.01.2023 to 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 29 |  | 28

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 917,433 |  | 6,537 |  | 923,970
At 31 March 2025 | 917,433 |  | 6,537 |  | 923,970
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 0 |  | 5,422 |  | 5,422
Charge for the financial year | 0 |  | 111 |  | 111
At 31 March 2025 | 0 |  | 5,533 |  | 5,533
Net book value |  |  |  |  |
At 31 March 2025 | 917,433 |  | 1,004 |  | 918,437
At 31 March 2024 | 917,433 |  | 1,115 |  | 918,548

#### 4. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Other debtors | 3,510 |  | 4,304

#### 5. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Other taxation and social security | 6,809 |  | 7,772
Other creditors | 32,621 |  | 27,851
| 39,430 |  | 35,623

#### 6. Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.
No restrictions or limitations exist on the ability of the members to reduce the amount of "Members other interests".