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REGISTERED NUMBER: 05329338 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

The Bright Side of Life Limited

The Bright Side of Life Limited (Registered number: 05329338)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Bright Side of Life Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mr S A Gee





REGISTERED OFFICE: 3 Park Square
Leeds
LS1 2NE





REGISTERED NUMBER: 05329338 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

The Bright Side of Life Limited (Registered number: 05329338)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 140,000 140,000

CURRENT ASSETS
Debtors 5 15,000 15,000
Cash at bank 3,038 296
18,038 15,296
CREDITORS
Amounts falling due within one year 6 5,864 3,925
NET CURRENT ASSETS 12,174 11,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,174

151,371

PROVISIONS FOR LIABILITIES 7 10,000 10,000
NET ASSETS 142,174 141,371

CAPITAL AND RESERVES
Called up share capital 8 1,502 1,502
Fair value reserve 9 82,752 82,752
Retained earnings 9 57,920 57,117
SHAREHOLDERS' FUNDS 142,174 141,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Bright Side of Life Limited (Registered number: 05329338)

Balance Sheet - continued
31 January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2023 and were signed by:





Mr S A Gee - Director


The Bright Side of Life Limited (Registered number: 05329338)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

The Bright Side of Life Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 140,000
NET BOOK VALUE
At 31 January 2023 140,000
At 31 January 2022 140,000

The Bright Side of Life Limited (Registered number: 05329338)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2019 56,320
Cost 83,680
140,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 83,680 83,680

The investment property was valued on an open market basis on 31 January 2019 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Loan Debtors 15,000 15,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Corporation tax 4,147 2,082
Directors' current accounts 217 343
Accrued expenses 1,500 1,500
5,864 3,925

7. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax 10,000 10,000

Deferred
tax
£   
Balance at 1 February 2022 10,000
Fair value gain
Balance at 31 January 2023 10,000

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
1,502 Ordinary £1 1,502 1,502

The Bright Side of Life Limited (Registered number: 05329338)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2022 57,117 82,752 139,869
Profit for the year 8,803 8,803
Dividends (8,000 ) (8,000 )
At 31 January 2023 57,920 82,752 140,672

10. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its director, Mr S A Gee.