Company Registration No. 09379726 (England and Wales)
BRIGHT CITY COLLECTIVE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
BRIGHT CITY COLLECTIVE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 5
BRIGHT CITY COLLECTIVE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr B M Jacob
Ms S F Nelson
Mr P D Nelson
Mr M J Smith
Mr S R Waring
Company number
09379726
Registered office
St Peters Church
York Place
Brighton
East Sussex
BN1 4GU
Auditor
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
BRIGHT CITY COLLECTIVE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Current assets
Stocks
4,459
4,459
Debtors
3
8,892
4,043
Cash at bank and in hand
18,237
27,092
31,588
35,594
Creditors: amounts falling due within one year
4
(31,586)
(35,592)
Net current assets
2
2
Capital and reserves
Called up share capital
2
2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 September 2022 and are signed on its behalf by:
Mr S R Waring
Director
Company Registration No. 09379726
The notes on pages 3 to 5 form part of these financial statements
BRIGHT CITY COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information

Bright City Collective Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Peters Church, York Place, Brighton, East Sussex, BN1 4GU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

BRIGHT CITY COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
-
0
-
0
3
Debtors
2021
2020
Amounts falling due within one year:
£
£
Prepayments and accrued income
8,892
4,043
4
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
23,085
34,407
Accruals and deferred income
8,501
1,185
31,586
35,592
BRIGHT CITY COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Mark Cummins FCCA.
The auditor was TC Group.
6
Parent company

The ultimate controlling party is St Peter's Church Brighton (Registered number - 1146642) by virtue of the fact that it owns 100% of the share capital. The registered office and the principal place of business is St Peter's Church Brighton, York Place, Brighton, BN1 4GU.

2021-12-312021-01-01false09 September 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityThis audit opinion is unqualifiedMr B M JacobMs S F NelsonMr P D NelsonMr M J SmithMr S R Waring093797262021-01-012021-12-3109379726bus:Director12021-01-012021-12-3109379726bus:Director22021-01-012021-12-3109379726bus:Director32021-01-012021-12-3109379726bus:Director42021-01-012021-12-3109379726bus:Director52021-01-012021-12-3109379726bus:RegisteredOffice2021-01-012021-12-31093797262021-12-31093797262020-12-3109379726core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3109379726core:CurrentFinancialInstrumentscore:WithinOneYear2020-12-3109379726core:ShareCapital2021-12-3109379726core:ShareCapital2020-12-31093797262020-01-012020-12-3109379726core:CurrentFinancialInstruments2021-12-3109379726core:CurrentFinancialInstruments2020-12-3109379726bus:PrivateLimitedCompanyLtd2021-01-012021-12-3109379726bus:SmallCompaniesRegimeForAccounts2021-01-012021-12-3109379726bus:FRS1022021-01-012021-12-3109379726bus:Audited2021-01-012021-12-3109379726bus:FullAccounts2021-01-012021-12-31xbrli:purexbrli:sharesiso4217:GBP