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

REGISTERED NUMBER: SC245645 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2021

for

Blackbridge Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Malcolm Laurence Foster

SECRETARY:

Mrs Sarah Foster

REGISTERED OFFICE:

25 Sandyford Place

Glasgow

G3 7NG

REGISTERED NUMBER:

SC245645 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

4

1,183

1,392

Investment property

5

472,891

154,628

474,074

156,020

CURRENT ASSETS

Prepayments and accrued income

810

222

Cash at bank

12,173

23,419

12,983

23,641

CREDITORS

Amounts falling due within one year

6

132,550

35,920

NET CURRENT LIABILITIES

(119,567

)

(12,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

354,507

143,741

CREDITORS

Amounts falling due after more than one year

7

232,995

-

NET ASSETS

121,512

143,741

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

121,511

143,740

SHAREHOLDERS' FUNDS

121,512

143,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2021 and were signed by:

Mr Malcolm Laurence Foster - Director

1.	STATUTORY INFORMATION

Blackbridge Limited is a private company, limited by shares , registered in Scotland. 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.

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.

Fittings and equipment

-

15% on reducing balance

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Grant income

Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fittings

Integral

and

Computer

Features

equipment

equipment

Totals

£

£

£

£

COST

At 1 March 2020

and 28 February 2021

3,427

260

3,000

6,687

DEPRECIATION

At 1 March 2020

2,134

161

3,000

5,295

Charge for year

194

15

-

209

At 28 February 2021

2,328

176

3,000

5,504

NET BOOK VALUE

At 28 February 2021

1,099

84

-

1,183

At 29 February 2020

1,293

99

-

1,392

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 March 2020

154,628

Additions

318,263

At 28 February 2021

472,891

NET BOOK VALUE

At 28 February 2021

472,891

At 29 February 2020

154,628

The directors are of the opinion that the value of the company's investment properties is fairly stated at the original acquisition cost of the properties.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Director's loan account

124,002

31,912

Accrued charges

8,548

4,008

132,550

35,920

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Mortgage more than five years

232,995

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgage more than five years

232,995

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary

£1

1

1

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Malcolm Laurence Foster.