BRIDGES FUND MANAGEMENT LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements. The Group's revenue is primarily derived from investment management fees, coming from a diversified body of investors across the Group's range of funds, of whom the majority by value are financial institutions. The directors believe that the Group's investors are financially secure and that the possibility that they will default when capital is called is remote. No investors have defaulted on capital calls since the firm's inception in 2002, and there is no expectation that any will do so in the future. The Group prepares detailed annual budgets and updates its forecasts on an ongoing basis; those forecasts confirm that the Group will continue to trade profitably. Various ongoing geopolitical conflicts have not had a direct impact on the Group to date, and the directors do not believe that this position will change; in particular, the Group has no investors or investments that are subject to or have been affected by economic sanctions. Furthermore the Group has no external debt, and is not directly affected by increases in interest rates. Certain of the Group's operating costs have increased as a result of recent inflationary pressures, but the impact from a going concern perspective has been more than mitigated by increases in revenue following additional fundraising during the year.”

Group structure

1. BRIDGES FUND MANAGEMENT LIMITED · parent
   1. Bridges Ventures Holdings Ltd 100% · England & Wales
   2. Bridges Ventures Inc. 100% · USA
   3. Bridges Community Ventures Nominees Ltd 100% · England & Wales
   4. Bridges Ventures (General Partners) Ltd 100% · England & Wales
   5. Bridges Community Ventures (General Partner) Ltd 100% · England & Wales

Significant events

• “Despite these challenges, Bridges was proud to have achieved successfül exits for its funds during the year. These included the Bridges Sustainable Growth Funds realising the investments in Viva Gym and Nexgen (Just Ask) together with a partial exit from the investment in Alina. The Bridges property funds exited their investments in Coventry and Basingstoke and one of their investments in Leeds. In addition, final payments were received from the AllChild contract (formerly 'West London Zone') managed by the Outcomes Team.”
• “The Group's US subsidiary, Bridges Ventures Inc, achieved realisations of the US fund's remaining three assets during the year.”
• “During the year, the Group held further closings for its sixth Property Alternatives fund, taking commitments raised to £256m (2024: £132m) at the year end. A further closing post year-end takes current commitments to £280m, with the prospect of further closings before the fundraising process concludes by September 2025. The Group has therefore now passed the milestone of raising £1bn for its property funds since the inception of that strategy. The Group also raised additional capital during the year for its Private Equity and Outcomes strategies, with the SDG Outcomes Fund achieving a final closing post-year end at its hard cap of $100m.”
• “The funds completed 4 (2024: 14) new investments during the year.”
• “No subsequent events took place post Balance Sheet date.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

16

last 12 months

Capital events

9

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +3.5%

  £19,820,414 → £20,523,218

• Cash

  +35.8%

  £8,930,810 → £12,130,440

• Net assets

  +25.6%

  £10,575,492 → £13,286,806

• Employees

  -6.3%

  80 → 75

• Operating profit

  +28.2%

  £3,293,535 → £4,222,374

• Profit before tax

  +33.4%

  £3,293,421 → £4,392,700

• Wages

  +3%

  £9,439,589 → £9,720,784

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers