REGISTERED NUMBER: 05564035 (England and Wales)

G BRIDGLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTOR:

G C S Bridgland

SECRETARY:

Mrs D Bridgland

REGISTERED OFFICE:

Heathwood Timber Yard

Marden Road

Cranbrook

Kent

TN17 2LP

REGISTERED NUMBER:

05564035 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

82 High Street

Tenterden

Kent

TN30 6JG

FIXED ASSETS

Intangible assets

4

37,777

50,225

Tangible assets

5

87,400

113,406

125,177

163,631

CURRENT ASSETS

Stocks

5,800

6,000

Debtors

6

870,155

661,305

Cash at bank and in hand

59,851

81,793

935,806

749,098

CREDITORS

Amounts falling due within one year

7

275,215

149,441

NET CURRENT ASSETS

660,591

599,657

TOTAL ASSETS LESS CURRENT LIABILITIES

785,768

763,288

CREDITORS

Amounts falling due after more than one year

8

(5,000

)

(15,000

)

PROVISIONS FOR LIABILITIES

10

(21,011

)

(27,459

)

NET ASSETS

759,757

720,829

CAPITAL AND RESERVES

Called up share capital

11

1

1

Retained earnings

759,756

720,828

SHAREHOLDERS' FUNDS

759,757

720,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 18 November 2025 and were signed by:

G C S Bridgland - Director

1.	STATUTORY INFORMATION

G Bridgland 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.	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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being

amortised evenly over its estimated useful life of twenty years, with the first charge being made in 2008.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

10% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition

In accordance with the provisions of UITF40 "Revenue recognition and service contracts" where work straddles a year end it is treated as a long term contract and income is accrued as the work progresses to reflect the partial completion of the work at the year end.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

249,753

AMORTISATION

At 1 January 2024

199,528

Amortisation for year

12,448

At 31 December 2024

211,976

NET BOOK VALUE

At 31 December 2024

37,777

At 31 December 2023

50,225

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

5,000

721,663

35,808

422,289

1,184,760

Additions

-

8,000

-

56,548

64,548

Disposals

-

-

-

(52,000

)

(52,000

)

At 31 December 2024

5,000

729,663

35,808

426,837

1,197,308

DEPRECIATION

At 1 January 2024

2,000

653,611

32,190

383,553

1,071,354

Charge for year

500

19,385

1,357

17,312

38,554

At 31 December 2024

2,500

672,996

33,547

400,865

1,109,908

NET BOOK VALUE

At 31 December 2024

2,500

56,667

2,261

25,972

87,400

At 31 December 2023

3,000

68,052

3,618

38,736

113,406

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2024

29,660

Transfer to ownership

(29,660

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

19,875

Charge for year

4,449

Transfer to ownership

(24,324

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

9,785

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

134,804

73,369

Amounts recoverable on contract

180,041

-

Other debtors

548,065

585,383

862,910

658,752

2024

2023

£

£

Amounts falling due after more than one year:

Other debtors

7,245

2,553

Aggregate amounts

870,155

661,305

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

23,001

42,450

Hire purchase contracts

-

2,264

Trade creditors

110,600

49,645

Taxation and social security

134,931

50,505

Other creditors

6,683

4,577

275,215

149,441

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,000

15,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

13,001

32,450

Hire purchase contracts

-

2,264

13,001

34,714

The bank overdraft from Lloyds Bank plc is secured by a debenture over the company's assets dated 16 October 2008. The director has also provided personal guarantees to Lloyds Bank plc of £80,000 and Nat West Bank plc of £20,000.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

21,011

27,459

Deferred

tax

£

Balance at 1 January 2024

27,459

Accelerated Capital Allowances

(6,448

)

Balance at 31 December 2024

21,011

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

G C S Bridgland

Balance outstanding at start of year

7,565

(434

)

Amounts advanced

20,999

10,799

Amounts repaid

(7,097

)

(2,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,467

7,565

13.	RELATED PARTY DISCLOSURES

Included in other debtors is £491,855 (£539,566 - 2023) owed by Wizard Fireworks Limited and £16,436 (£16,436 - 2023) owed by Illusion Pyrotechnics Limited, both are companies controlled by G C S Bridgland.

The director and company have also indicated their continued financial support of Wizard Fireworks Limited for the foreseeable future.