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Registered number: 10384626
Brightlocal Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 10384626
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 14,080 359
14,080 359
CURRENT ASSETS
Debtors 6 639,877 519,851
Cash at bank and in hand 3,449,116 3,441,541
4,088,993 3,961,392
Creditors: Amounts Falling Due Within One Year 7 (1,675,990 ) (1,789,406 )
NET CURRENT ASSETS (LIABILITIES) 2,413,003 2,171,986
TOTAL ASSETS LESS CURRENT LIABILITIES 2,427,083 2,172,345
NET ASSETS 2,427,083 2,172,345
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement 2,427,082 2,172,344
SHAREHOLDERS' FUNDS 2,427,083 2,172,345
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Myles Anderson
Director
17 April 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Brightlocal Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10384626 . The registered office is 2nd Floor, Blenheim House, 120 Church Street, Brighton, East Sussex, BN1 1UD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
Expenditure on research and development is now capitalised and amortised over three years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.3% Straight line Basis
Fixtures & Fittings 33.3% Straight line Basis
Computer Equipment 50% Straight Line Basis
The directors took the decision to write off the office computer equipment over two years as this is a more realistic basis. The company policy is to replace and not repair computer equipment.

The directors took the decision to write off all computer equipment issued to the technicians in the year of purchase as their realistic expected life is 12 months due to heavy usage. Again, the company policy is to replace and not repair computer equipment.

2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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Page 3
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 59 (2022: 49)
59 49
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 320,218
As at 31 December 2023 320,218
Amortisation
As at 1 January 2023 320,218
As at 31 December 2023 320,218
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 29,434 104,792 58,349 192,575
Additions 21,118 - - 21,118
As at 31 December 2023 50,552 104,792 58,349 213,693
Depreciation
As at 1 January 2023 29,434 104,792 57,990 192,216
Provided during the period 7,038 - 359 7,397
As at 31 December 2023 36,472 104,792 58,349 199,613
Net Book Value
As at 31 December 2023 14,080 - - 14,080
As at 1 January 2023 - - 359 359
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 79,247 62,439
Prepayments and accrued income 156,838 95,913
Other debtors 23,363 25,883
VAT 22,150 -
Amounts owed by group undertakings 358,279 335,616
639,877 519,851
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Page 4
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 81,066 104,909
Corporation tax 13,239 237,169
Other taxes and social security 104,407 100,261
VAT - 5,050
Other creditors 45,683 8,684
Accruals and deferred income 180,445 82,183
Amounts owed to group undertakings 1,251,150 1,251,150
1,675,990 1,789,406
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.000 each 1 1
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 71,072 71,074
Later than one year and not later than five years 284,300 284,300
Later than five years 26,418 91,552
381,790 446,926
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 801,135 1,208,080
801,135 1,208,080
11. Related Party Transactions
Brightlocal Poland LtdBrightlocal Poland Ltd is also fully owned by BrightLocal Services Ltd.During the year the company provided financial assistance to Brightlocal Poland of £18,011 (2022: £3,659). At the year end Brightlocal Poland Ltd owed the company £21,670 (2022: £6,202)

Brightlocal Poland Ltd

Brightlocal Poland Ltd is also fully owned by BrightLocal Services Ltd.

During the year the company provided financial assistance to Brightlocal Poland of £18,011 (2022: £3,659). At the year end Brightlocal Poland Ltd owed the company £21,670 (2022: £6,202)

BrightLocal Services LtdThe company is controlled by BrightLocal Services LtdDuring the year the company paid a dividend to BrightLocal Services Ltd of £801,135 (2022: £1,208,080) and paid expenses of £994 (2022: £Nil) for BrightLocal Services Ltd. At the year end BrightLocal Services Ltd owed the company £336,609 (2022: £335,616)

BrightLocal Services Ltd

The company is controlled by BrightLocal Services Ltd

During the year the company paid a dividend to BrightLocal Services Ltd of £801,135 (2022: £1,208,080) and paid expenses of £994 (2022: £Nil) for BrightLocal Services Ltd. At the year end BrightLocal Services Ltd owed the company £336,609 (2022: £335,616)

12. Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is BrightLocal Services Ltd . BrightLocal Services Ltd was incorporated in the United Kingdon. The controlling parties are Mr Myles Anderson and Mrs Sophie Anderson who, together, control 70.3% of the shares of BrightLocal Services Ltd. . 
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