Registered number
SC530507
Bright Scene Development (UK) Limited
Filleted Accounts
31 March 2024
Bright Scene Development (UK) Limited
Registered number: SC530507
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,730,505 1,414,250
Current assets
Cash at bank and in hand 21,426 55,530
Creditors: amounts falling due within one year 4 (17,192) (26,511)
Net current assets 4,234 29,019
Total assets less current liabilities 1,734,739 1,443,269
Creditors: amounts falling due after more than one year 5 (1,344,746) (1,082,653)
Net assets 389,993 360,616
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 335,000 335,000
Profit and loss account 54,893 25,516
Shareholders' funds 389,993 360,616
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Alexander Brown
Director
Approved by the board on 22 August 2024
Bright Scene Development (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & Fittings 25% SLM
Computer Equipment 33.33% SLM
Investments
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Investment Properties Computer Equipment Fixtures & Fittings Total
£ £ £ £
Cost
At 1 April 2023 1,413,983 218 167 1,414,368
Additions 316,369 - - 316,369
At 31 March 2024 1,730,352 218 167 1,730,737
Depreciation
At 1 April 2023 - 24 94 118
Charge for the year - 73 41 114
At 31 March 2024 - 97 135 232
Net book value
At 31 March 2024 1,730,352 121 32 1,730,505
At 31 March 2023 1,413,983 194 73 1,414,250
4 Creditors: amounts falling due within one year 2024 2023
£ £
Directors Loan Account 9,338 20,693
Taxation and social security costs 7,129 5,818
Other creditors 725 -
17,192 26,511
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,344,746 1,082,653
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 335,000 335,000
At 31 March 2024 335,000 335,000
7 Other information
Bright Scene Development (UK) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
25 Hillview Drive
Edinburgh
Midlothian
Scotland
EH12 8QP
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