BBright Limited 12919694 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is heating engineers. Digita Accounts Production Advanced 6.30.9574.0 true true 12919694 2022-11-01 2023-10-31 12919694 2023-10-31 12919694 bus:OrdinaryShareClass1 bus:OtherShareType 2023-10-31 12919694 core:CurrentFinancialInstruments 2023-10-31 12919694 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12919694 core:FurnitureFittingsToolsEquipment 2023-10-31 12919694 bus:SmallEntities 2022-11-01 2023-10-31 12919694 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12919694 bus:FullAccounts 2022-11-01 2023-10-31 12919694 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12919694 bus:RegisteredOffice 2022-11-01 2023-10-31 12919694 bus:Director2 2022-11-01 2023-10-31 12919694 bus:OrdinaryShareClass1 bus:OtherShareType 2022-11-01 2023-10-31 12919694 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12919694 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 12919694 core:OfficeEquipment 2022-11-01 2023-10-31 12919694 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-11-01 2023-10-31 12919694 countries:England 2022-11-01 2023-10-31 12919694 2022-10-31 12919694 core:FurnitureFittingsToolsEquipment 2022-10-31 12919694 2021-11-01 2022-10-31 12919694 2022-10-31 12919694 bus:OrdinaryShareClass1 bus:OtherShareType 2022-10-31 12919694 core:CurrentFinancialInstruments 2022-10-31 12919694 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12919694 core:FurnitureFittingsToolsEquipment 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12919694

BBright Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

image-name
 

BBright Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

BBright Limited

Company Information

Director

S Baila

Registered office

Zone 2 Sion Park
Stansted Road
Birchanger
Bishops Stortford
CM23 5PU

Accountants

Viewpoint Accountants Ltd
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

 

BBright Limited

(Registration number: 12919694)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

841

1,204

Current assets

 

Stocks

6

2,100

2,100

Debtors

7

19,252

30,114

Cash at bank and in hand

 

27,767

8,697

 

49,119

40,911

Creditors: Amounts falling due within one year

8

(56,480)

(406,879)

Net current liabilities

 

(7,361)

(365,968)

Net liabilities

 

(6,520)

(364,764)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(6,620)

(364,864)

Shareholders' deficit

 

(6,520)

(364,764)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 1 December 2023
 

.........................................
S Baila
Director

 

BBright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Zone 2 Sion Park
Stansted Road
Birchanger
Bishops Stortford
CM23 5PU

These financial statements were authorised for issue by the director on 1 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors are confident that the investment in the company website and the trading relationships formed in the financial year will lead to more profitable trading in future and see the business reporting a positive Balance Sheet position in the next 12 to 24 months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

BBright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

BBright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as 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. Where shares
are issued, any component that creates a financial liability of the company is presented as a liability in the
balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in
the profit and loss account.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 7).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

364

249

 

BBright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

1,453

1,453

At 31 October 2023

1,453

1,453

Depreciation

At 1 November 2022

248

248

Charge for the year

364

364

At 31 October 2023

612

612

Carrying amount

At 31 October 2023

841

841

At 31 October 2022

1,204

1,204

6

Stocks

2023
£

2022
£

Other inventories

2,100

2,100

7

Debtors

2023
£

2022
£

Trade debtors

18,036

30,114

Other debtors

995

-

Prepayments

221

-

19,252

30,114

 

BBright Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,814

6,684

Taxation and social security

14,300

23,429

Accruals and deferred income

-

1,639

Other creditors

38,366

375,127

56,480

406,879

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Share capital of £1 each

100

100

100

100

         

10

Related party transactions

Transactions with the director

Summary of transactions with entities with joint control or significant interest

Included in other creditors is a balance of £27,957 (2022: £374,776) due to a company under common control.
Included in other creditors is a balance of £2,085 (2022: £nil) due to a company under common control.
Included in other debtors is a balance of £995 (2022: £nil) due to a company under common control.
These balances have arisen during the course of normal trading and are considered repayable on demand.