Bridgewater Developments Limited - Accounts to registrar (filleted) - small 18.2
Bridgewater Developments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2019 |
| for |
| Bridgewater Developments Limited |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Bridgewater Developments Limited |
| Company Information |
| for the Year Ended 31 December 2019 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5a Frascati Way |
| Maidenhead |
| Berkshire |
| SL6 4UY |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Balance Sheet |
| 31 December 2019 |
| 31.12.19 | 31.12.18 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Balance Sheet - continued |
| 31 December 2019 |
| 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. |
| 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 |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2019 |
| 1. | STATUTORY INFORMATION |
| Bridgewater Developments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Bridgewater Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| 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's main judgement is in relation to the recoverability of the balance due of £311,574 from its subsidiary undertaking, Bridgewater New Homes Limited. No provision has been made against the amount receivable on the basis that future trading profits will be sufficient to repay the amount due. |
| Turnover |
| Turnover represents rent receivable together with sale proceeds resulting from the sale of properties held for development rather than investment purposes and are exclusive of Value Added Tax. |
| Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due. Where services are provided and the right to consideration is contingent on a specific future event which is outside the control of the company then no turnover is recognised until that event occurs. |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is included at fair value. Changes in market value are recognised in the income statement. |
| No depreciation is charged on investment properties. Although the Companies Act would not normally require the systematic annual depreciation of fixed assets, the members believe that the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors in the annual valuation, and the amount which might otherwise have been included and cannot be separately identified or quantified. |
| 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. |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2018 - |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2019 |
| and 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| and 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2019 |
| and 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2019 |
| Additions |
| Disposals | ( |
) |
| Revaluations | (274,214 | ) |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| Fair value at 31 December 2019 is represented by: |
| £ |
| Valuation in 2016 | 20,425 |
| Valuation in 2015 | 328,001 |
| Valuation in 2014 | 622,244 |
| Valuation in 2018 | (247,721 | ) |
| Valuation in 2019 | (274,215 | ) |
| Cost | 1,150,457 |
| 1,599,191 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Cost | 1,150,457 | 649,675 |
| The investment properties were valued on an open market value basis on 31 December 2019 by G A Charrison, a director . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Bridgewater Developments Limited (Registered number: 03076623) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Bank loans |
| Bank loans are secured by a charge over certain assets of the company. |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2019 and 31 December 2018: |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is G A Charrison. |