Bridgestones Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04159159 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

BRIDGESTONES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R L Cooksey

Mrs J Cooksey

Mrs V L Galbraith

SECRETARY:

Mrs J Cooksey

REGISTERED OFFICE:

125/127 Union Street

Oldham

Lancashire

OL1 1TE

REGISTERED NUMBER:

04159159 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

503,849

487,590

503,849

487,590

CURRENT ASSETS

Debtors

6

1,528,366

1,516,159

Investments

7

15

15

Cash at bank and in hand

13,226

3,002

1,541,607

1,519,176

CREDITORS

Amounts falling due within one year

8

641,229

605,160

NET CURRENT ASSETS

900,378

914,016

TOTAL ASSETS LESS CURRENT LIABILITIES

1,404,227

1,401,606

CREDITORS

Amounts falling due after more than one year

9

312,359

365,068

NET ASSETS

1,091,868

1,036,538

CAPITAL AND RESERVES

Called up share capital

270

270

Share premium

35,990

35,990

Revaluation reserve

11

41,479

41,479

Retained earnings

1,014,129

958,799

SHAREHOLDERS' FUNDS

1,091,868

1,036,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 29 December 2021 and were signed on its behalf by:

R L Cooksey - Director

1.	STATUTORY INFORMATION

Bridgestones 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Having adopted accounting standard FRS 102 section 1A the directors have opted not to continue with the policy to revalue the land and buildings. The land and buildings will be included using the valuation at 1 April 2016 as the deemed cost value and one which the directors believe to be its' fair value.

Government grants

Government Covid related grants are credited to the profit and loss account on an accruals basis to match them with the expenditure to which they relate.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

and 31 March 2021

3,347

AMORTISATION

At 1 April 2020

and 31 March 2021

3,347

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

435,037

175,323

610,360

Additions

-

47,553

47,553

Disposals

-

(22,350

)

(22,350

)

At 31 March 2021

435,037

200,526

635,563

DEPRECIATION

At 1 April 2020

-

122,770

122,770

Charge for year

-

21,865

21,865

Eliminated on disposal

-

(12,921

)

(12,921

)

At 31 March 2021

-

131,714

131,714

NET BOOK VALUE

At 31 March 2021

435,037

68,812

503,849

At 31 March 2020

435,037

52,553

487,590

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2020

64,445

Additions

42,527

Transfer to ownership

(64,445

)

At 31 March 2021

42,527

DEPRECIATION

At 1 April 2020

39,498

Charge for year

10,632

Transfer to ownership

(39,498

)

At 31 March 2021

10,632

NET BOOK VALUE

At 31 March 2021

31,895

At 31 March 2020

24,947

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

93,594

71,600

Other debtors

123,886

133,292

217,480

204,892

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,310,886

1,311,267

Aggregate amounts

1,528,366

1,516,159

7.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Unlisted investments

15

15

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

221,763

217,973

Hire purchase contracts

8,142

26,478

Trade creditors

61,115

47,389

Taxation and social security

149,327

81,200

Other creditors

200,882

232,120

641,229

605,160

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

123,193

129,752

Hire purchase contracts

33,144

-

Other creditors

156,022

235,316

312,359

365,068

10.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank overdrafts

168,075

166,675

Bank loans

176,881

181,050

344,956

347,725

11.

RESERVES

Revaluation

reserve

£

At 1 April 2020

and 31 March 2021

41,479