REGISTERED NUMBER: 08896199 (England and Wales)

Bridgwater Gateway Industrial Limited

Unaudited Financial Statements for the Year Ended 31 December 2025

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E J Kaman

W M Knoest

REGISTERED OFFICE:

Sedgemoor Auction Centre

Market Way

North Petherton

Bridgwater

Somerset

TA6 6DF

REGISTERED NUMBER:

08896199 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

National Westminster Bank plc

PO Box 2BA

69 Baker Street

London

W1U 6AT

FIXED ASSETS

Investment property

5

15,792,926

16,321,000

CURRENT ASSETS

Debtors

287,522

220,355

Cash at bank

109,216

277,595

396,738

497,950

CREDITORS

Amounts falling due within one year

314,483

271,055

NET CURRENT ASSETS

82,255

226,895

TOTAL ASSETS LESS CURRENT LIABILITIES

15,875,181

16,547,895

CREDITORS

Amounts falling due after more than one year

(15,310,077

)

(14,695,605

)

PROVISIONS FOR LIABILITIES

-

(324,484

)

ACCRUALS AND DEFERRED INCOME

7

(601,243

)

(579,927

)

NET (LIABILITIES)/ASSETS

(36,139

)

947,879

CAPITAL AND RESERVES

Called up share capital

1

1

Investment property revaluation reserve

4,592,302

5,155,055

Retained earnings

(4,628,442

)

(4,207,177

)

SHAREHOLDERS' FUNDS

(36,139

)

947,879

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Financial Position for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 4 May 2026 and were signed on its behalf by:

E J Kaman - Director

1.	STATUTORY INFORMATION

Bridgwater Gateway Industrial Limited 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

The directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements. Consequently, the directors are confident that the company will have sufficient funds and group funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

In addition, Gateway 24 BV, as ultimate owner of Bridgwater Gateway Industrial Limited, has confirmed that it will continue to provide adequate financial support to ensure that the company will continue as a going concern for the next 12 months from the date of approval of the financial statements.

Turnover

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

Investment property

Investment property comprises partially developed industrial land which is initially measured at cost and subsequently remeasured at fair value. Cost represents the purchase price of land and any other expenditure which is directly attributable to the development and construction of industrial units. Fair value represents completed and let value plus management's valuation of the remaining undeveloped land.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Accounting estimates and judgements

The directors consider there to be no estimates or judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2025

16,321,000

Additions

446,926

Revaluations

(975,000

)

At 31 December 2025

15,792,926

NET BOOK VALUE

At 31 December 2025

15,792,926

At 31 December 2024

16,321,000

Investment property comprises property that has been constructed, property in the course of construction and land held for future development.

The first block of industrial units constructed was valued at £4,320,000 on a completed and let value basis on 4 October 2021 by Knight Frank, commercial property specialists.

The second identical block of industrial units was valued by management in 2023 at £4,855,000 on the basis of a completely different cost structure which will lead to higher future revenue streams.

The first and second block of industrial units 1601-1610 were valued at £8,200,000 on 25 September 2025 by Knight Frank, commercial property specialists.

The remaining land held for future industrial development was reviewed by management as at 31 December 2025 and there were no changes in value from the previous year.

Cost or valuation at 31 December 2025 is represented by:

£

Valuation in 2020

2,387,050

Valuation in 2021

1,558,910

Valuation in 2022

1,329,200

Valuation in 2023

292,142

Valuation in 2025

(975,000

)

Cost

11,200,624

15,792,926

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank loans

2,603,978

2,667,635

The bank loans comprise two loans of 60 months. One loan is repayable by monthly instalments. The other loan amounting to £2,500,000 is repayable by a single instalment at the end of the term on 05/05/27. The interest rate on both loans was 6.4% at the balance sheet date (2024 7.4%) This is 2.65% per annum over base rate.

The bank loans are secured by a legal charge over property at plot 1600, a debenture over all assets of the company and a deed of subordination between the company and Bridgwater Gateway Limited in respect of monies owed by the company to Bridgwater Gateway Limited.

7.	ACCRUALS AND DEFERRED INCOME

31.12.25

31.12.24

£

£

Amounts owed to group undertakings

601,243

579,927

Interest on the intercompany loans is accrued and adopted to the loans at the start of each financial year.

8.	OTHER FINANCIAL COMMITMENTS

The company has granted a guarantee for £577,500 to Bridgwater Gateway Limited in respect of bank loans.

9.	RELATED PARTY DISCLOSURES

Gateway 24 BV

Ultimate parent company

The intercompany loan and accrued interest held in euros realised a foreign exchange loss of £14,583 (2024: FX gain £12,044) on translation at the balance sheet date.

Interest on the loan is compounded at an annual rate of 7.0% EUR (2024: 7.0% EUR) and is adopted to the loan at the start of each financial year. Interest of £20,300 (2024: £18,018) has been accrued for the year ended 31 December 2025.

During the year, service fees amounting to £26,003 (2024: £19,553) were invoiced to the company.

31.12.25

31.12.24

£

£

Amount due to related party at the balance sheet date

310,299

275,416

Bridgwater Gateway Limited

Fellow group undertaking

Interest on the intercompany loan is compounded at an annual rate of 7.0% (2024: 7.0%) and is adopted to the loan at the start of each financial year. Interest of £601,243 (2024: £561,909) has been accrued for the year ended 31 December 2025.

During the year, service fees amounting to £79,619 (2024: £74,919) were invoiced to the company. The

company was also recharged costs of £4,200.

31.12.25

31.12.24

£

£

Amount due to related party at the balance sheet date

13,070,743

12,394,081

10.	POST BALANCE SHEET EVENTS

Since the year end, the company has received full planning permission for 4 mixed use industrial units.

11.	ULTIMATE CONTROLLING PARTY

Gateway 24 BV (incorporated in the Netherlands) is regarded by the directors as being the company's ultimate parent company.

The controlling party are the shareholders in Gateway 24 BV.

The accounts of Gateway 24 BV can be obtained from the company's office at Nieuwe Plantage 58, 2611 XK Delft, The Netherlands.