Only Bridging & Loans Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05038750 (England and Wales)

ONLY BRIDGING & LOANS LTD

Unaudited Financial Statements

For The Period

29th February 2016 to 31st May 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs A Juniper

REGISTERED OFFICE:

1 Nelson Street

Southend on Sea

Essex

SS1 1EG

REGISTERED NUMBER:

05038750 (England and Wales)

FIXED ASSETS

Tangible assets

4

379

1,013

CURRENT ASSETS

Debtors

5

64,623

23,960

Cash at bank

5,852

79,353

70,475

103,313

CREDITORS

Amounts falling due within one year

6

54,491

57,984

NET CURRENT ASSETS

15,984

45,329

TOTAL ASSETS LESS CURRENT LIABILITIES

16,363

46,342

CAPITAL AND RESERVES

Called up share capital

200

198

Retained earnings

16,163

46,144

SHAREHOLDERS' FUNDS

16,363

46,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st May 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26th February 2018 and were signed by:

Mrs A Juniper - Director

1.	STATUTORY INFORMATION

Only Bridging & Loans Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In the opinion of the directors, it remains appropriate to continue to adopt the going concern basis of accounting.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the period ended 31st May 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1st March 2015.

No transition differences have been identified on transition from previous UK GAAP to FRS 102. As such, no

transition tables are presented showing the differences between the financial statements as presented under

previous GAAP and as presented under FRS 102.

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.

Plant and machinery etc

-

Over 3 years

Taxation

Taxation for the period 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 period 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Trade and other receivables

Trade and other receivables are measured at transaction price less any impairment unless the arrangement

constitutes a financing transaction in which case the transaction is measured at the present value of the future

receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are

subsequently measured at amortised cost using the effective interest method less any impairment.

Trade and other payables

Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing

transaction in which case the transaction is measured at present value of future payments discounted at prevailing

market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs.

They are subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 29th February 2016

and 31st May 2017

5,425

DEPRECIATION

At 29th February 2016

4,412

Charge for period

634

At 31st May 2017

5,046

NET BOOK VALUE

At 31st May 2017

379

At 28th February 2016

1,013

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

21,855

-

Other debtors

42,768

23,960

64,623

23,960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

14,591

-

Taxation and social security

16,382

35,746

Other creditors

23,518

22,238

54,491

57,984

7.	ULTIMATE CONTROLLING PARTY

The Controlling party is P S McGerrigan.