Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-01No description of principal activity1falsefalse1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12119609 2022-08-01 2023-07-31 12119609 2021-08-01 2022-07-31 12119609 2023-07-31 12119609 2022-07-31 12119609 c:Director1 2022-08-01 2023-07-31 12119609 d:PlantMachinery 2022-08-01 2023-07-31 12119609 d:PlantMachinery 2023-07-31 12119609 d:PlantMachinery 2022-07-31 12119609 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12119609 d:CurrentFinancialInstruments 2023-07-31 12119609 d:CurrentFinancialInstruments 2022-07-31 12119609 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12119609 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12119609 d:ShareCapital 2023-07-31 12119609 d:ShareCapital 2022-07-31 12119609 d:RetainedEarningsAccumulatedLosses 2023-07-31 12119609 d:RetainedEarningsAccumulatedLosses 2022-07-31 12119609 c:FRS102 2022-08-01 2023-07-31 12119609 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12119609 c:FullAccounts 2022-08-01 2023-07-31 12119609 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12119609 2 2022-08-01 2023-07-31 12119609 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Registered number: 12119609













BRIGHTWORK DIGITAL LTD
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023


 
BRIGHTWORK DIGITAL LTD
REGISTERED NUMBER:12119609


BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
156

  
-
156

Current assets
  

Debtors: amounts falling due within one year
 5 
8,099
14,545

Cash at bank and in hand
 6 
2,282
37,448

  
10,381
51,993

Creditors: amounts falling due within one year
 7 
(9,876)
(20,379)

Net current assets
  
 
 
505
 
 
31,614

Total assets less current liabilities
  
505
31,770

  

Net assets
  
505
31,770


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
504
31,769

  
505
31,770


Page 1


 
BRIGHTWORK DIGITAL LTD
REGISTERED NUMBER:12119609

    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2024.




D Dykes
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2


 
BRIGHTWORK DIGITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Brightwork Digital Ltd (12119609) is a limited liability company incorporated in England. The registered office is Unit 300 155 Minories, London, United Kingdom, EC3N 1AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3


 
BRIGHTWORK DIGITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4


 
BRIGHTWORK DIGITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


 
BRIGHTWORK DIGITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6


 
BRIGHTWORK DIGITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 August 2022
460



At 31 July 2023

460



Depreciation


At 1 August 2022
304


Charge for the year on owned assets
156



At 31 July 2023

460



Net book value



At 31 July 2023
-



At 31 July 2022
156


5.


Debtors

2023
2022
£
£


Trade debtors
-
14,545

Other debtors
8,099
-

8,099
14,545



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,282
37,448


Page 7


 
BRIGHTWORK DIGITAL LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Corporation tax
8,443
18,882

Other creditors
-
64

Accruals and deferred income
1,433
1,433

9,876
20,379



8.


Related party transactions

Included in other debtors is a director loan account of £7,939 which was repaid on the 30th April 2024.
Controling Party
D Dykes is the ultimate controling party by nature of his shareholding in the company.

 
Page 8