Bridgewater New Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06227553 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Bridgewater New Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G A Charrison

SECRETARY:

Mr G A Charrison

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

06227553 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

CURRENT ASSETS

Debtors

3

88,711

17,757

Cash at bank

3,744

1,322

92,455

19,079

CREDITORS

Amounts falling due within one year

4

(315,574

)

(328,061

)

NET CURRENT LIABILITIES

(223,119

)

(308,982

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(223,119

)

(308,982

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(223,219

)

(309,082

)

SHAREHOLDERS' FUNDS

(223,119

)

(308,982

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 on 12 September 2019 and were signed by:

Mr G A Charrison - Director

1.	STATUTORY INFORMATION

Bridgewater New Homes 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.

The accounts have been prepared on the going concern basis as the director considers that the

company has sufficient finance available to it to enable it to continue trading and meet its liabilities

as they fall due for the foreseeable future, being at least 12 months from the date of approval of the

accounts.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts 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 if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Where revenue is obtained by the sale of properties, it is recognised when the significant risks and

returns have been transferred to the buyer. This will normally take place on exchange of contracts

unless there are conditions attached. For conditional exchanges sales are recognised when these

conditions are satisfied.

Where revenue is obtained in connection with the provision of development services and materials,

it is recognised by reference to the value of work performed or stage of completion based on work

performed to date as a percentage of the total contractual obligation.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value, with changes

recognised in profit and loss.

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

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

period of the lease.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

88,711

17,757

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed to group undertakings

315,574

308,802

Taxation and social security

-

6,759

Other creditors

-

12,500

315,574

328,061

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 December 2018 and 31 December 2017:

31.12.18

31.12.17

£

£

Mr G A Charrison

Balance outstanding at start of year

10,794

12,500

Amounts advanced

23,107

10,794

Amounts repaid

(25,228

)

(12,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,673

10,794

6.	RELATED PARTY DISCLOSURES

Laserglobe (Investments) Limited

At 31 December 2018, the company owed £Nil (2017: £12,500) to Laserglobe (Investments) Limited,

a company owned and controlled by Mr G A Charrison, a director.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr G A Charrison.