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COMPANY REGISTRATION NUMBER: 04500721
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 5
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
BALANCE SHEET
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
4,513
5,207
Current assets
Debtors
6
7,757
4,213
Cash at bank and in hand
15,977
32,467
------------
------------
23,734
36,680
Creditors: amounts falling due within one year
7
( 28,112)
( 31,575)
------------
------------
Net current (liabilities)/assets
( 4,378)
5,105
------------
------------
Total assets less current liabilities
135
10,312
Provisions
( 600)
------------
------------
Net assets
135
9,712
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
35
9,612
------------
------------
Shareholders funds
135
9,712
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , and are signed on behalf of the board by:
R S T Cartwright Director
Company registration number: 04500721
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services provided.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
33% straight line
Motorbikes and equipment
-
25% reducing balance
In the year of acquisition tangible fixed assets are depreciated from 1 April.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Leasehold improvements
Motorbikes and equipment
Total
£
£
£
Cost
At 1 April 2022
2,820
18,311
21,131
Additions
2,123
2,123
Disposals
( 1,750)
( 1,750)
------------
------------
------------
At 31 March 2023
2,820
18,684
21,504
------------
------------
------------
Depreciation
At 1 April 2022
2,820
13,104
15,924
Charge for the year
1,504
1,504
Disposals
( 437)
( 437)
------------
------------
------------
At 31 March 2023
2,820
14,171
16,991
------------
------------
------------
Carrying amount
At 31 March 2023
4,513
4,513
------------
------------
------------
At 31 March 2022
5,207
5,207
------------
------------
------------
6. Debtors
2023
2022
£
£
Prepayments and accrued income
7,521
4,173
Other debtor
40
Corporation tax recoverable
236
------------
------------
7,757
4,213
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
13,997
16,731
Corporation tax
250
Social security and other taxes
73
169
Other creditor (note 10)
10,762
10,725
Director's loan account (note 10)
3,280
3,700
------------
------------
28,112
31,575
------------
------------
8. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
600
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
600
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
10. Related party transactions
Transactions with the director The director's loan account of £3,280 (2022: £3,700) set out above is unsecured, repayable on demand and currently interest free. Included in other creditors is the amount of £10,762 (2022: £10,725) which represents a loan due to Futurebegin Limited, a company under common control. This loan is unsecured, repayable on demand and currently interest free. Control of the company The company is controlled by R S T Cartwright .