Bridgestones Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04159159 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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:

2 Cromwell Court

Oldham

OL1 1ET

REGISTERED NUMBER:

04159159 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

475,596

488,088

475,596

488,088

CURRENT ASSETS

Debtors

6

1,502,968

1,505,352

Investments

7

-

15

Cash at bank and in hand

1,611

5,508

1,504,579

1,510,875

CREDITORS

Amounts falling due within one year

8

772,858

677,118

NET CURRENT ASSETS

731,721

833,757

TOTAL ASSETS LESS CURRENT LIABILITIES

1,207,317

1,321,845

CREDITORS

Amounts falling due after more than one year

9

80,190

194,254

NET ASSETS

1,127,127

1,127,591

CAPITAL AND RESERVES

Called up share capital

270

270

Share premium

35,990

35,990

Revaluation reserve

11

41,479

41,479

Retained earnings

1,049,388

1,049,852

SHAREHOLDERS' FUNDS

1,127,127

1,127,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 19 December 2023 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.

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 15 (2022 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

3,347

AMORTISATION

At 1 April 2022

and 31 March 2023

3,347

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

435,037

201,382

636,419

Additions

-

162

162

At 31 March 2023

435,037

201,544

636,581

DEPRECIATION

At 1 April 2022

-

148,331

148,331

Charge for year

-

12,654

12,654

At 31 March 2023

-

160,985

160,985

NET BOOK VALUE

At 31 March 2023

435,037

40,559

475,596

At 31 March 2022

435,037

53,051

488,088

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

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

43,108

DEPRECIATION

At 1 April 2022

18,751

Charge for year

6,089

At 31 March 2023

24,840

NET BOOK VALUE

At 31 March 2023

18,268

At 31 March 2022

24,357

6.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

81,224

69,588

Other debtors

109,920

124,853

191,144

194,441

2023

2022

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,311,824

1,310,911

Aggregate amounts

1,502,968

1,505,352

7.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Unlisted investments

-

15

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

196,117

190,243

Hire purchase contracts

25,001

8,142

Trade creditors

64,577

51,353

Taxation and social security

123,126

139,201

Other creditors

364,037

288,179

772,858

677,118

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

66,744

96,776

Hire purchase contracts

-

25,001

Other creditors

13,446

72,477

80,190

194,254

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank overdrafts

166,132

159,537

Bank loans

96,729

127,482

262,861

287,019

11.

RESERVES

Revaluation

reserve

£

Revaluation reserve

41,479

At 31 March 2023

41,479