Company Registration No. 06539745 (England and Wales)
BRIDGEMAN WEALTH MANAGEMENT LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
BRIDGEMAN WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BRIDGEMAN WEALTH MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
37,467
48,707
Tangible assets
2
624
835
38,091
49,542
Current assets
Debtors
452
425
Cash at bank and in hand
40,831
36,255
41,283
36,680
Creditors: amounts falling due within one year
(44,721)
(40,157)
Net current liabilities
(3,438)
(3,477)
Total assets less current liabilities
34,653
46,065
Provisions for liabilities
(125)
(167)
34,528
45,898
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
34,428
45,798
Shareholders' funds
34,528
45,898
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 3 December 2015
K Bridgeman
Director
Company Registration No. 06539745
BRIDGEMAN WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
25% reducing balance
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not reversed by the balance sheet date, except for timing differences arising on revaluations of fixed assets which are not intended to be sold, gains on disposals of fixed assets which will be rolled over into replacement assets and earnings of overseas subsidiaries that are not intended to be remitted to the UK. No provision is made for taxation on permanent differences. Deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered.
BRIDGEMAN WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014 and at 31 March 2015
112,400
2,056
114,456
Depreciation
At 1 April 2014
63,693
1,221
64,914
Charge for the year
11,240
211
11,451
At 31 March 2015
74,933
1,432
76,365
Net book value
At 31 March 2015
37,467
624
38,091
At 31 March 2014
48,707
835
49,542
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50 Ordinary shares of £1 each
50
50
50 Ordinary B shares of £1 each
50
50
100
100
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