Company registration number 04990300 (England and Wales)
BRIDGEHALL LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
BRIDGEHALL LEISURE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BRIDGEHALL LEISURE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
517
620
Current assets
Debtors
5
634,267
500,355
Cash at bank and in hand
55,846
312,568
690,113
812,923
Creditors: amounts falling due within one year
6
(60,674)
(189,156)
Net current assets
629,439
623,767
Total assets less current liabilities
629,956
624,387
Creditors: amounts falling due after more than one year
7
(37,607)
(40,000)
Provisions for liabilities
(72)
(124)
Net assets
592,277
584,263
Capital and reserves
Called up share capital
8
200
200
Profit and loss reserves
592,077
584,063
Total equity
592,277
584,263
BRIDGEHALL LEISURE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 19 December 2022
Mrs A Hamilton
Director
Company Registration No. 04990300
BRIDGEHALL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Bridgehall Leisure Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.
true
1.3
Reporting period
These financial statements have been prepared for the 10 month period ended 31 March 2022. The comparative period financial statements are for the year ended 31 May 2022.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% Reducing balance
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
.
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss.
1.7
Cash at bank and in hand
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 current liabilities.
BRIDGEHALL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.11
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
BRIDGEHALL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was 1 (2021 - 1).
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2021 and 31 March 2022
5,185
Depreciation and impairment
At 1 June 2021
4,565
Depreciation charged in the period
103
At 31 March 2022
4,668
Carrying amount
At 31 March 2022
517
At 31 May 2021
620
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
250,943
Other debtors
634,267
249,412
634,267
500,355
Other debtors includes £249,000 (2021 - £249,000) due from companies in which a close family member of the director has an interest.
Other debtors also includes £385,067 (2021 - £Nil) due from the director. The loan is unsecured and interest is charged at a rate of 2% per annum.
BRIDGEHALL LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 6 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,247
10,000
Trade creditors
50,785
96,681
Taxation and social security
3,875
2,030
Other creditors
767
80,445
60,674
189,156
Other creditors includes £Nil (2021 - £79,680) in respect of amounts due to a company in which a close family member of the director has an interest.
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
37,607
40,000
The company’s bank loan is
a government backed
Bounce Back Loan
, for which no security has been given.
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
A Ordinary shares of £1 each
100
100
100
100
B Ordinary shares of £1 each
100
100
100
100
200
200
200
200