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REGISTERED NUMBER: 04713509 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Brightside Systems Limited

Brightside Systems Limited (Registered number: 04713509)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brightside Systems Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: S J Hough
Mrs D Hough





SECRETARY: Mrs D Hough





REGISTERED OFFICE: 12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH





REGISTERED NUMBER: 04713509 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Brightside Systems Limited (Registered number: 04713509)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,671 38,013

CURRENT ASSETS
Debtors 5 61,536 52,860

CREDITORS
Amounts falling due within one year 6 59,077 51,478
NET CURRENT ASSETS 2,459 1,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,130

39,395

CREDITORS
Amounts falling due after more than one
year

7

(24,976

)

(32,029

)

PROVISIONS FOR LIABILITIES (7,668 ) (7,222 )
NET ASSETS 486 144

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 484 142
SHAREHOLDERS' FUNDS 486 144

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Brightside Systems Limited (Registered number: 04713509)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





S J Hough - Director


Brightside Systems Limited (Registered number: 04713509)

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

1. STATUTORY INFORMATION

Brightside Systems 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.

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.

Turnover
Turnover represents the net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company payments to the directors pension scheme are charged to the profit and loss account in the period to which they relate.

Brightside Systems Limited (Registered number: 04713509)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 56,603
Additions 915
At 31 May 2023 57,518
DEPRECIATION
At 1 June 2022 18,590
Charge for year 8,257
At 31 May 2023 26,847
NET BOOK VALUE
At 31 May 2023 30,671
At 31 May 2022 38,013

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 45,520
DEPRECIATION
At 1 June 2022 7,586
Charge for year 8,062
At 31 May 2023 15,648
NET BOOK VALUE
At 31 May 2023 29,872
At 31 May 2022 37,934

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts recoverable on contract 9,046 9,149
Other debtors 42,470 35,864
51,516 45,013

Brightside Systems Limited (Registered number: 04713509)

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

5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 10,020 7,847

Aggregate amounts 61,536 52,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,662 11,000
Hire purchase contracts 7,053 7,053
Taxation and social security 25,246 18,645
Other creditors 16,116 14,780
59,077 51,478

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 24,976 32,029

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
S J Hough and Mrs D Hough
Balance outstanding at start of year 35,161 33,507
Amounts advanced 56,437 1,654
Amounts repaid (50,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 41,598 35,161

The directors pay interest on the overdrawn balance of their loan accounts at HMRC's official rate.

9. ULTIMATE CONTROLLING PARTY

The directors were the ultimate controlling party during the period.