Bridge Financial Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10270224 (England and Wales)

BRIDGE FINANCIAL SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTOR:

M J McKenning

REGISTERED OFFICE:

23 Milverton Road

Knowle

Solihull

West Midlands

B93 0HX

REGISTERED NUMBER:

10270224 (England and Wales)

ACCOUNTANTS:

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

FIXED ASSETS

Tangible assets

4

352

788

CURRENT ASSETS

Debtors

5

2,158

1,478

Cash at bank and in hand

38,406

6,679

40,564

8,157

CREDITORS

Amounts falling due within one year

6

25,039

6,419

NET CURRENT ASSETS

15,525

1,738

TOTAL ASSETS LESS CURRENT LIABILITIES

15,877

2,526

PROVISIONS FOR LIABILITIES

67

-

NET ASSETS

15,810

2,526

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

15,610

2,326

SHAREHOLDERS' FUNDS

15,810

2,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 and authorised for issue on 5 November 2020 and were signed by:

M J McKenning - Director

1.	STATUTORY INFORMATION

Bridge Financial Solutions 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.

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.

Turnover

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

rebates, value added tax and other sales taxes.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss

Account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2019

and 31 July 2020

675

1,124

1,799

DEPRECIATION

At 1 August 2019

261

750

1,011

Charge for year

62

374

436

At 31 July 2020

323

1,124

1,447

NET BOOK VALUE

At 31 July 2020

352

-

352

At 31 July 2019

414

374

788

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/20

31/7/19

£

£

Other debtors

2,158

1,478

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/20

31/7/19

£

£

Bank loans and overdrafts

19,500

-

Taxation and social security

4,511

1,913

Other creditors

1,028

4,506

25,039

6,419

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Bridge Financial Solutions Limited for the year ended 31 July 2020 which comprise

the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Bridge Financial Solutions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bridge Financial Solutions Limited and state those matters that we have agreed to state to the director of Bridge Financial Solutions Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Bridge Financial Solutions 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 Bridge Financial Solutions Limited. You consider that Bridge Financial Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bridge Financial Solutions 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.

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

5 November 2020