Bridge Management Training Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02455943 (England and Wales)

Financial Statements for the Year Ended 30 June 2019

for

Bridge Management Training Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Ms J Sassienie

Mr T Littlehales

REGISTERED OFFICE:

5/7 The Avenue

Newmarket

Suffolk

CB8 9AA

REGISTERED NUMBER:

02455943 (England and Wales)

AUDITORS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Tangible assets

4

16,621

16,354

Investments

5

51,339

36,294

67,960

52,648

CURRENT ASSETS

Debtors

6

5,131,695

5,009,965

Cash at bank and in hand

573,716

432,647

5,705,411

5,442,612

CREDITORS

Amounts falling due within one year

7

3,919,860

3,328,924

NET CURRENT ASSETS

1,785,551

2,113,688

TOTAL ASSETS LESS CURRENT LIABILITIES

1,853,511

2,166,336

PROVISIONS FOR LIABILITIES

9

-

4,275

NET ASSETS

1,853,511

2,162,061

CAPITAL AND RESERVES

Called up share capital

10

500

500

Retained earnings - non distributable

11

22,534

7,489

Retained earnings

11

1,830,477

2,154,072

SHAREHOLDERS' FUNDS

1,853,511

2,162,061

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 and authorised for issue by the Board of Directors on 24 March 2020 and were signed on its behalf by:

Mr T Littlehales - Director

1.	STATUTORY INFORMATION

Bridge Management Training Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number and registered office, that is also the principal place of business, can be found

on the Company Information page.

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 as modified by the revaluation of certain assets.

The company's functional and presentational currency is British Pound sterling, rounded to the nearest pound.

On the date of signing these financial statements, there was a world-wide pandemic. Whilst the directors have

prepared revised cash flow forecasts, it is currently unknown how long the pandemic will last and the lasting

impact that it will have on the trading activity of the company. Despite the forecasted losses over the next 15

months, the directors believe that the company, with support from its other group companies, has adequate cash

resources in order to pay its creditors as they fall due for the foreseeable future and for at least 12 months from

the date of signing of these financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Bridge Management Training Limited as an individual

Company and do not contain consolidated financial information as the parent of a group. The Company is

exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial

statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial

statements of its parent, New Bridge Partnership Holding Company Limited, .

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Services are performed by way of an indeterminate number of acts over a specified period of time. Revenue is

recognised on a straight-line basis over the specified period unless there is evidence that some other method

better represents the stage of completion. When a specific act is much more significant than any other act, the

recognition of revenue is postponed until the significant act is executed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of

its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company

becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction

costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement

constitutes a financing transaction, where the transaction is measured at the present value of the future receipts

discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at

transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities

classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

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.

Investments

Investments in Group undertakings are stated at cost less any provision for impairment.

Investments in listed companies are stated at fair value.

The company assesses investments for impairment whenever events or changes in circumstances indicate that the

carrying value of an investment may not be recoverable. If any such indication of impairment exists, the company

makes an estimate of the recoverable amount. If the recoverable amount of the cash-generating unit is less than

the value of the investment, the investment is considered to be impaired and is written down to its recoverable

amount. An impairment loss is recognised immediately in the profit and loss account.

For available-for-sale investments, gains and losses arising from changes in fair value are recognised directly in

equity, until the investment is disposed of or is determined to be impaired, at which time the cumulative gain or

loss previously recognised in equity, determined using the weighted average cost method, is included in the net

profit or loss for the period.

Operating leases

Rentals on operating leases are charged to the profit and loss account in the period in which they fall due.

Related party disclosure

As the company is a wholly owned subsidiary within the group of its ultimate holding party New Bridge

Partnership Holding Company Limited the company has taken advantage of the exemption contained within FRS

102 and has therefore not disclosed transactions with entities which form part of the group. The consolidated

financial statements of New Bridge Partnership Holding Company Limited within which this company is

included, can be obtained from the registered office.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2018

75,806

Additions

9,872

At 30 June 2019

85,678

DEPRECIATION

At 1 July 2018

59,452

Charge for year

9,605

At 30 June 2019

69,057

NET BOOK VALUE

At 30 June 2019

16,621

At 30 June 2018

16,354

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 July 2018

35,605

689

36,294

Revaluations

15,045

-

15,045

At 30 June 2019

50,650

689

51,339

NET BOOK VALUE

At 30 June 2019

50,650

689

51,339

At 30 June 2018

35,605

689

36,294

Cost or valuation at 30 June 2019 is represented by:

Listed

Unlisted

investments

investments

Totals

£

£

£

Valuation in 2018

7,489

-

7,489

Valuation in 2019

15,045

-

15,045

Cost

28,116

689

28,805

50,650

689

51,339

The Company's investments at the Statement of Financial Position date in the share capital of companies include

the following:

Bridge Partnership Pte Limited

Registered office: 138 Cecil St, £12-01A Cecil Ct, Singapore 069538.

Nature of business: Management training

%

Class of shares:

holding

Ordinary

100.00

The investment in Bridge Partnership Pte Limited is shown on the balance sheet at £1. It was acquired at a cost

of SGD 1.

Bridge Partnership North America Limited

Registered office: 18-4 East Dundee Road, Suite 220 Barrington, Il 60010, USA.

Nature of business: Management training

%

Class of shares:

holding

Ordinary

100.00

The investment in Bridge Partnership North America Limited is shown on the balance sheet at £642. It was

acquired at a cost of £642.

Bridge Partnership Asia Pacific Pte Limited

Registered office: 138 Cecil St, £12-01A Cecil Ct, Singapore 069538.

Nature of business: Management training

%

Class of shares:

holding

Ordinary

100.00

The investment in Bridge Partnership Asia Pacific Pte Limited is shown on the balance sheet at £46. It was

acquired at a cost of £46.

Bridge Partnership Hong Kong Limited

Registered office: 1703, 17th Floor, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong,

Nature of business: Management training

%

Class of shares:

holding

Ordinary

100.00

All unlisted investments are held in subsidiary undertakings.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

745,539

1,278,135

Amounts owed by participating interests

4,134,047

3,639,884

Other debtors

252,109

91,946

5,131,695

5,009,965

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

472,064

484,139

Amounts owed to participating interests

3,286,108

2,668,450

Taxation and social security

87,460

125,840

Other creditors

74,228

50,495

3,919,860

3,328,924

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.19

30.6.18

£

£

Within one year

19,196

19,196

Between one and five years

47,299

66,495

66,495

85,691

9.	PROVISIONS FOR LIABILITIES

30.6.19

30.6.18

£

£

Deferred tax

Accelerated capital allowances

-

4,275

Deferred

tax

£

Balance at 1 July 2018

4,275

Credit to Income Statement during year

(4,275

)

Accelerated capital allowances

Balance at 30 June 2019

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.19

30.6.18

value:

£

£

300

'A' Ordinary

£1

300

300

200

'B' Ordinary

£1

200

200

500

500

The 'A' and 'B' shares hold equal voting, dividends and capital rights.

11.

RESERVES

Retained

earnings

Retained

- non

earnings

distributable

Totals

£

£

£

At 1 July 2018

2,154,072

7,489

2,161,561

Deficit for the year

(308,550

)

(308,550

)

Transfers

(15,045

)

15,045

-

At 30 June 2019

1,830,477

22,534

1,853,011

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Denise Lindsell FCA (Senior Statutory Auditor)

for and on behalf of Hardcastle Burton LLP

13.	ULTIMATE CONTROLLING PARTY

The controlling party is New Bridge Partnership Holding Co.Limited.

The ultimate controlling party which is also the parent undertaking has its registered office at: 5/7 The Avenue,

Newmarket, Suffolk, CB8 9AA.