Bridge Timber Products Limited - Accounts to registrar (filleted) - small 18.2
Bridge Timber Products Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2021 |
| for |
| Bridge Timber Products Limited |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Bridge Timber Products Limited |
| Company Information |
| for the Year Ended 31 March 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 28 Prescott Street |
| Halifax |
| West Yorkshire |
| HX1 2LG |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Balance Sheet |
| 31 March 2021 |
| 31.3.21 | 31.3.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve | 12 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Balance Sheet - continued |
| 31 March 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Bridge Timber Products Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2020 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under finance leases are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2020 |
| Additions |
| Transfer to ownership | (22,434 | ) |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| Transfer to ownership | (18,490 | ) |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2020 |
| Revaluations | (20,000 | ) |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Fair value at 31 March 2021 is represented by: |
| £ |
| Valuation in 2020 | 86,062 |
| Valuation in 2021 | (20,000 | ) |
| Cost | 263,938 |
| 330,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Cost | 258,414 | 258,414 |
| Investment property was valued on an open market basis on 21 January 2021 by Allied Surveyors and Valuers . |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Bank loans and overdrafts |
| Finance leases (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Bank loans |
| Finance leases (see note 10) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 202,532 | 154,015 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Finance leases |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Gross obligations repayable: |
| Within one year |
| Between one and five years |
| Finance charges repayable: |
| Within one year |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 10. | LEASING AGREEMENTS - continued |
| Non-cancellable | operating leases |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Bank loans |
| Finance leases | 54,345 | 12,228 |
| Bank borrowings are secured by a debenture giving a fixed and floating charge over the assets of the company. |
| Hire purchase contracts are secured over the asset purchased. |
| 12. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2020 |
| Revaluation | 17,597 |
| At 31 March 2021 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020: |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Bridge Timber Products Limited (Registered number: 04546780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| All loans with directors are interest free and repayable upon demand. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is jointly controlled by K Uttley and P Charnley by virtue of their directorships and shareholdings in the company. |