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REGISTERED NUMBER: 08142293 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BRIGHTER FUTURES MERSEYSIDE LIMITED

BRIGHTER FUTURES MERSEYSIDE LIMITED (REGISTERED NUMBER: 08142293)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


BRIGHTER FUTURES MERSEYSIDE LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: I Smith
C J Donaldson
Mrs V Forshaw





SECRETARY: Mrs V Forshaw





REGISTERED OFFICE: The Threlfall Building
Trueman Street
Liverpool
Merseyside
L3 2BA





REGISTERED NUMBER: 08142293 (England and Wales)





AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

BRIGHTER FUTURES MERSEYSIDE LIMITED (REGISTERED NUMBER: 08142293)

STATEMENT OF FINANCIAL POSITION
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,113 4,281

CURRENT ASSETS
Debtors 5 65,779 161,926
Cash at bank 1,280,744 907,826
1,346,523 1,069,752
CREDITORS
Amounts falling due within one year 6 521,869 417,560
NET CURRENT ASSETS 824,654 652,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

827,767

656,473

PROVISIONS FOR LIABILITIES 7 778 -
NET ASSETS 826,989 656,473

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 9 816,989 646,473
SHAREHOLDERS' FUNDS 826,989 656,473

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:





I Smith - Director


BRIGHTER FUTURES MERSEYSIDE LIMITED (REGISTERED NUMBER: 08142293)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Brighter Futures Merseyside 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.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its debts for the foreseeable future not limited to a period of 12 months from the signing of these accounts. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and in particular, the useful economic life and residual values of fixtures and fittings and computer equipment, and have concluded that the asset lives and residual values are appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The following assets and liabilities are classed as financial instruments - related party loans and trade creditors.

Trade creditors are measured at transaction price.

Other loans including related party loans are initially measured at fair value and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.


BRIGHTER FUTURES MERSEYSIDE LIMITED (REGISTERED NUMBER: 08142293)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2022 - 44 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022 15,057 15,814 30,871
Additions 436 366 802
Disposals (1,350 ) (12,848 ) (14,198 )
At 31 July 2023 14,143 3,332 17,475
DEPRECIATION
At 1 August 2022 13,355 13,235 26,590
Charge for year 510 529 1,039
Eliminated on disposal (1,249 ) (12,018 ) (13,267 )
At 31 July 2023 12,616 1,746 14,362
NET BOOK VALUE
At 31 July 2023 1,527 1,586 3,113
At 31 July 2022 1,702 2,579 4,281

BRIGHTER FUTURES MERSEYSIDE LIMITED (REGISTERED NUMBER: 08142293)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,728 1,728
Other debtors 39,924 146,514
VAT 3,574 1,595
Prepayments 20,553 12,089
65,779 161,926

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 63,261 7,451
Amounts owed to group undertakings 48,974 4,970
Tax 45,618 45,465
Social security and other taxes 26,945 23,918
Other creditors 1,756 6,225
Accrued expenses 335,315 329,531
521,869 417,560

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 778 -

Deferred
tax
£   
Charge to Income Statement during year 778
Balance at 31 July 2023 778

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

9. RESERVES
Retained
earnings
£   

At 1 August 2022 646,473
Profit for the year 170,516
At 31 July 2023 816,989

BRIGHTER FUTURES MERSEYSIDE LIMITED (REGISTERED NUMBER: 08142293)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Louise Webster BSc BFP ACA (Senior Statutory Auditor)
for and on behalf of Fairhurst

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

By virtue of their shareholdings in the ultimate parent company, Sysco Management Services Limited, the Donaldson family control the company.