Bridgegap Limited - Period Ending 2015-07-31

Registration number: 03809248

Bridgegap Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2015
 

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

Bridgegap Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Bridgegap Limited
(Registration number: 03809248)
Abbreviated Balance Sheet at 31 July 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					9,944			7,546
Current assets
Stocks					15,845			14,950
Debtors					532,847			496,205
Cash at bank and in hand					211,985			53,980
					760,677			565,135
Creditors: Amounts falling due within one year					(232,103)			(137,782)
Net current assets					528,574			427,353
Total assets less current liabilities					538,518			434,899
Creditors: Amounts falling due after more than one year					(1,856)			(10,174)
Net assets					536,662			424,725
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					536,562			424,625
Shareholders' funds					536,662			424,725

For the year ending 31 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 9 May 2016 and signed on its behalf by:

.........................................
M English
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Bridgegap Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings & equipment	20% Reducing balance method
Motor vehicles	25% Reducing balance method

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Bridgegap Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2014		39,393			39,393
Additions		4,936			4,936
At 31 July 2015		44,329			44,329
Depreciation
At 1 August 2014		31,847			31,847
Charge for the year		2,538			2,538
At 31 July 2015		34,385			34,385
Net book value
At 31 July 2015		9,944			9,944
At 31 July 2014		7,546			7,546

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3