Bridge Art Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13203869 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2024

for

Bridge Art Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R Perry

R J Perry

REGISTERED OFFICE:

Kenant Chambers

2 Bath Avenue

Wolverhampton

West Midlands

WV1 4EQ

REGISTERED NUMBER:

13203869 (England and Wales)

FIXED ASSETS

Tangible assets

4

511,842

511,842

CURRENT ASSETS

Debtors

5

100

100

Cash at bank

4,535

3,394

4,635

3,494

CREDITORS

Amounts falling due within one year

6

193,999

195,318

NET CURRENT LIABILITIES

(189,364

)

(191,824

)

TOTAL ASSETS LESS CURRENT LIABILITIES

322,478

320,018

CREDITORS

Amounts falling due after more than one year

7

265,688

288,462

NET ASSETS

56,790

31,556

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

56,690

31,456

SHAREHOLDERS' FUNDS

56,790

31,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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 16 April 2024 and were signed on its behalf by:

R J Perry - Director

1.	STATUTORY INFORMATION

Bridge Art Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Land and buildings

-

in accordance with the property

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Long

leasehold

£

COST

At 1 March 2023

and 28 February 2024

511,842

NET BOOK VALUE

At 28 February 2024

511,842

At 28 February 2023

511,842

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.24

28.2.23

£

£

Other debtors

100

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.24

28.2.23

£

£

Bank loans and overdrafts

22,773

22,773

Taxation and social security

7,953

7,607

Other creditors

163,273

164,938

193,999

195,318

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.24

28.2.23

£

£

Bank loans

265,688

288,462

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

174,595

197,369

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.24

28.2.23

£

£

Bank loans

288,461

311,235

The bank loan is secured against the leasehold property owned by the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.24

28.2.23

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance outstanding to the directors at 28/02/2024 was £162,697 (2023: £164,363). This loan is provided interest free and is not repayable in the short term.