Bridger Enterprises (UK) Limited Filleted accounts for Companies House (small and micro)

BRIDGER ENTERPRISES (UK) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08326249

BRIDGER ENTERPRISES (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

30 December 2018

BRIDGER ENTERPRISES (UK) LIMITED

FINANCIAL STATEMENTS

PERIOD FROM 1 JANUARY 2018 TO 30 DECEMBER 2018

Contents	Page

Officers and professional advisers	1

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

BRIDGER ENTERPRISES (UK) LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	Mr I C Berg

Registered office	606 Westgate Apartments
	Leeman Road
	York
	YO26 4ZP

Accountants	ERC Accountants & Business Advisers Limited
	Chartered accountants
	Hanover Buildings
	11-13 Hanover Street
	Liverpool
	L1 3DN

BRIDGER ENTERPRISES (UK) LIMITED

CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRIDGER ENTERPRISES (UK) LIMITED

PERIOD FROM 1 JANUARY 2018 TO 30 DECEMBER 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bridger Enterprises (UK) Limited for the period ended 30 December 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Bridger Enterprises (UK) Limited in accordance with the terms of our engagement letter dated 27 September 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Bridger Enterprises (UK) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bridger Enterprises (UK) Limited and its director for our work or for this report.

It is your duty to ensure that Bridger Enterprises (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bridger Enterprises (UK) Limited. You consider that Bridger Enterprises (UK) Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Bridger Enterprises (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

ERC Accountants & Business Advisers Limited Chartered accountants

Hanover Buildings 11-13 Hanover Street Liverpool L1 3DN

18 December 2019

BRIDGER ENTERPRISES (UK) LIMITED

STATEMENT OF FINANCIAL POSITION

30 December 2018

	30 Dec 18	31 Dec 17
		(restated)
Note	£	£

FIXED ASSETS

Tangible assets	5	20,977	15,689

CURRENT ASSETS

Stocks		41,511	30,974
Debtors	6	1,844	–
Cash at bank and in hand		–	8,591
		---------	---------
		43,355	39,565

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	7	200,767	169,750
		----------	----------
NET CURRENT LIABILITIES		157,412	130,185
		----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		( 136,435)	( 114,496)

PROVISIONS	( 22,615)	–
	----------	----------
NET LIABILITIES	( 113,820)	( 114,496)
	----------	----------

CAPITAL AND RESERVES

Called up share capital	1	1
Profit and loss account	( 113,821)	( 114,497)
	----------	----------
SHAREHOLDERS DEFICIT	( 113,820)	( 114,496)
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 30 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BRIDGER ENTERPRISES (UK) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 December 2018

These financial statements were approved by the board of directors and authorised for issue on 18 December 2019 , and are signed on behalf of the board by:

Mr I C Berg
Director

Company registration number: 08326249

BRIDGER ENTERPRISES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 JANUARY 2018 TO 30 DECEMBER 2018

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 606 Westgate Apartments, Leeman Road, York, YO26 4ZP.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Motor vehicles	-	15% reducing balance
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the period amounted to 1 (2017: Nil).

5. TANGIBLE ASSETS

Plant and machinery	Motor vehicles	Equipment	Total
£	£	£	£

Cost
At 1 January 2018 (as restated)	14,879	13,300	545	28,724
Additions	–	11,915	–	11,915
	---------	---------	----	---------
At 30 December 2018	14,879	25,215	545	40,639
	---------	---------	----	---------
Depreciation
At 1 January 2018	11,160	1,330	545	13,035
Charge for the period	3,719	2,908	–	6,627
	---------	---------	----	---------
At 30 December 2018	14,879	4,238	545	19,662
	---------	---------	----	---------
Carrying amount
At 30 December 2018	–	20,977	–	20,977
	---------	---------	----	---------
At 31 December 2017	3,719	11,970	–	15,689
	---------	---------	----	---------

6. DEBTORS

	30 Dec 18	31 Dec 17
		(restated)
	£	£

Other debtors	1,844	–
	-------	----

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	30 Dec 18	31 Dec 17
		(restated)
	£	£

Bank loans and overdrafts	47	–
Social security and other taxes	–	366
Other creditors	200,720	169,384
	----------	----------
	200,767	169,750
	----------	----------

8. PRIOR PERIOD ERRORS

Prior period errors have been identified in respect of the fixed assets. The omission resulted in fixed assets being understated by £13,300 and depreciation understated by £1,330. The comparatives have been restated accordingly to rectify the errors identified.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

No director received any advances, credits or guarantees during the current or previous accounting periods.

10. RELATED PARTY TRANSACTIONS

The following related party transactions were undertaken during the year: The director of the company withdrew amounts totalling £111,581 and introduced £143,449. At the year end the company owed the director £198,719 (2017: £166,851). No dividends were paid to the director in respect of his shareholding. The aggregate remuneration paid to key management personnel for the year was £2,028 (2017: £nil).

11. CHANGE IN REPORTING FREQUENCY

The accounting period has been shortened by one day.

12. GOING CONCERN

The company is able to meet its day to day working capital requirements through the support of the director and the company's creditors. Therefore the director considers it appropriate to prepare financial statements on the going concern basis.