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COMPANY REGISTRATION NUMBER: 14282503
Brightfyre Ltd
Filleted Unaudited Financial Statements
31 August 2023
Brightfyre Ltd
Statement of Financial Position
31 August 2023
31 Aug 23
Note
£
Fixed assets
Tangible assets
4
75
Current assets
Debtors
5
331
Cash at bank and in hand
2,003
-------
2,334
Creditors: amounts falling due within one year
6
2,864
-------
Net current liabilities
530
----
Total assets less current liabilities
( 455)
----
Net liabilities
( 455)
----
Capital and reserves
Called up share capital
1
Profit and loss account
( 456)
----
Shareholders deficit
( 455)
----
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 statement of income and retained earnings has not been delivered.
For the period ending 31 August 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 period 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 .
Brightfyre Ltd
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 2 April 2024 , and are signed on behalf of the board by:
N J Turvey
Director
Company registration number: 14282503
Brightfyre Ltd
Notes to the Financial Statements
Period from 8 August 2022 to 31 August 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 5 Barley Croft, Stoke Heath, Bromsgrove, B60 3QG, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 and represents amounts receivable for services rendered, stated net of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Equipment
£
Cost
At 8 August 2022 and 31 August 2023
100
----
Depreciation
At 8 August 2022
Charge for the period
25
----
At 31 August 2023
25
----
Carrying amount
At 31 August 2023
75
----
5. Debtors
31 Aug 23
£
Trade debtors
331
----
6. Creditors: amounts falling due within one year
31 Aug 23
£
Trade creditors
100
Corporation tax
887
Social security and other taxes
719
Other creditors
1,158
-------
2,864
-------