Bridwell Developments Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09221603 (England and Wales)

Bridwell Developments Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mr S Dinc

REGISTERED OFFICE:

239-241 Kennington Lane

London

SE11 5QU

REGISTERED NUMBER:

09221603 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bridwell Developments Ltd for the year ended 31 March 2025 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bridwell Developments Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bridwell Developments Ltd and state those matters that we have agreed to state to the director of Bridwell Developments Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridwell Developments Ltd and its director for our work or for this report.

It is your duty to ensure that Bridwell Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bridwell Developments Ltd. You consider that Bridwell Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bridwell Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

24 April 2026

FIXED ASSETS

Property, plant and equipment

4

2,711

3,190

Investment property

5

1,935,000

1,937,711

1,938,190

CURRENT ASSETS

Debtors

6

2,119,960

2,341,326

Cash at bank

135,158

81,095

2,255,118

2,422,421

CREDITORS

Amounts falling due within one year

7

882,208

798,531

NET CURRENT ASSETS

1,372,910

1,623,890

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,310,621

3,562,080

CREDITORS

Amounts falling due after more than one
year

8

(2,907,316

)

(2,907,316

)

PROVISIONS FOR LIABILITIES

10

(186,340

)

(186,300

)

NET ASSETS

216,965

468,464

CAPITAL AND RESERVES

Called up share capital

11

5,000

Non-distributable reserves

12

781,152

Retained earnings

12

(569,187

)

(317,688

)

SHAREHOLDERS' FUNDS

216,965

468,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2025 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 director and authorised for issue on 24 April 2026 and were signed by:

Mr S Dinc - Director

1.	STATUTORY INFORMATION

Bridwell Developments Ltd 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 as modified by the revaluation of certain assets.

Turnover

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

Turnover includes revenue earned from investments in properties. The revenue is recognised on an accrual basis in accordance with the tenancy agreement.

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

-

15% on reducing balance

Investment property

Director’s Assessment of Valuation

The director did not obtain an independent external valuation of the investment properties for the reporting period. The valuation has been determined solely based on the director’s judgement, taking into account their knowledge of the properties and current market conditions. The director considers the carrying amount to be a reasonable approximation of the properties’ open market value.

Going concern

The financial statements have been prepared on the going concern basis on the understanding that the director will continue to financially support the company to meet all liabilities as they fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

11,400

DEPRECIATION

At 1 April 2024

8,210

Charge for year

479

At 31 March 2025

8,689

NET BOOK VALUE

At 31 March 2025

2,711

At 31 March 2024

3,190

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,935,000

NET BOOK VALUE

At 31 March 2025

1,935,000

At 31 March 2024

1,935,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2017

232,253

Valuation in 2018

450,000

Valuation in 2020

215,000

Valuation in 2023

70,000

Cost

967,747

1,935,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

3,350

Other debtors

2,116,610

2,337,976

2,119,960

2,341,326

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

-

12

Trade creditors

8,758

3,744

Taxation and social security

635,701

578,059

Other creditors

237,749

216,716

882,208

798,531

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans

2,900,000

Other creditors

7,316

2,907,316

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

2,900,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

2,900,000

Bank loans are secured on the leasehold property building known as 224 Trafalgar Road, London, SE10 9ER.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

186,340

186,300

Deferred

tax

£

Balance at 1 April 2024

186,300

Charge to Income Statement during year

40

Balance at 31 March 2025

186,340

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

5,000

Ordinary

£1

5,000

12.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

At 1 April 2024

(317,688

)

781,152

463,464

Deficit for the year

(251,499

)

(251,499

)

At 31 March 2025

(569,187

)

781,152

211,965

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mr S Dinc

Balance outstanding at start of year

1,705,575

(91,954

)

Amounts advanced

-

2,019,634

Amounts repaid

(223,411

)

(222,105

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

1,482,164

1,705,575

14.	RELATED PARTY DISCLOSURES

Transactions with related parties:

Loans advanced to key management personel £1,482,164 (2024:£1,705,575). Interest free loan payable on demand.

Loans due from entities under common and joint control undertakings £58,342 (2024:£56,369). Loans bear interest at market rate and have no fixed repayment terms.

Loans due to entities under common and joint control undertakings £233,669 (2024:£211,916). Loans bear interest at market rate and have no fixed repayment terms.