Company Registration No. 06539745 (England and Wales)
BRIDGEMAN WEALTH MANAGEMENT LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
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 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
26,227
37,467
Tangible assets
2
753
624
26,980
38,091
Current assets
Debtors
4,821
452
Cash at bank and in hand
48,559
40,831
53,380
41,283
Creditors: amounts falling due within one year
(46,505)
(44,721)
Net current assets/(liabilities)
6,875
(3,438)
Total assets less current liabilities
33,855
34,653
Provisions for liabilities
(151)
(125)
33,704
34,528
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
33,604
34,428
Shareholders' funds
33,704
34,528
For the financial year ended 31 March 2016 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 7 November 2016
K Bridgeman
Director
Company Registration No. 06539745
BRIDGEMAN WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 January 2015).
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.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
112,400
2,056
114,456
Additions
-
380
380
At 31 March 2016
112,400
2,436
114,836
Depreciation
At 1 April 2015
74,933
1,432
76,365
Charge for the year
11,240
251
11,491
At 31 March 2016
86,173
1,683
87,856
Net book value
At 31 March 2016
26,227
753
26,980
At 31 March 2015
37,467
624
38,091
BRIDGEMAN WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
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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