COMPANY REGISTRATION NUMBER:
Bridgelease Limited
for the Year Ended 28 February 2019
Chartered Accountants
Moorgate House
King Street
Newton Abbot
Devon
TQ12 2LG
Bridgelease Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Bridgelease Limited
Company Information
Directors |
Mr J N Mayoh Mr C Boyce |
Registered office |
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Solicitors |
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Accountants |
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Bridgelease Limited
(Registration number: 03485566)
Balance Sheet as at 28 February 2019
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2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Total equity |
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Bridgelease Limited
(Registration number: 03485566)
Balance Sheet as at 28 February 2019
For the financial year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss has been taken.
Approved and authorised for issue by the
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Director
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Bridgelease Limited
Notes to the Financial Statements for the Year Ended 28 February 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling and rounded to the nearest full £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for amounts invoiced during the year in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when rents are recievable based on the lease terms.
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Bridgelease Limited
Notes to the Financial Statements for the Year Ended 28 February 2019
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Investment property
This is in accordance with the Financial Reporting Standard 102 1A which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
The borrowings outstanding at the year end are interest free and have no set date for repayment.
Share capital
Ordinary shares are classified as equity.
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Bridgelease Limited
Notes to the Financial Statements for the Year Ended 28 February 2019
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 March 2018 |
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At 28 February 2019 |
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Depreciation |
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Carrying amount |
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At 28 February 2019 |
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At 28 February 2018 |
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Revaluation
The fair value of the company's Investment property was revalued on
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Debtors |
2019 |
2018 |
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Other debtors |
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Total current trade and other debtors |
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Bridgelease Limited
Notes to the Financial Statements for the Year Ended 28 February 2019
Creditors |
Creditors: amounts falling due within one year
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2018 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2018 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
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