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REGISTERED NUMBER: 07491214 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BRIGHT WEALTH MANAGEMENT LIMITED

BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BRIGHT WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A Perryman





REGISTERED OFFICE: Chester House
63 Cambridge Street
Godmanchester
Huntingdon
Herts
PE29 2AY





REGISTERED NUMBER: 07491214 (England and Wales)





ACCOUNTANTS: Bradshaw Johnson
Chartered Accountants
Croft Chambers
11 Bancroft
Hitchin
Hertfordshire
SG5 1JQ

BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 45,000 80,000
Tangible assets 5 5,576 5,913
50,576 85,913

CURRENT ASSETS
Debtors 6 435,112 203,691
Cash at bank and in hand 401,788 557,653
836,900 761,344
CREDITORS
Amounts falling due within one year 7 381,820 389,466
NET CURRENT ASSETS 455,080 371,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

505,656

457,791

CREDITORS
Amounts falling due after more than one year 8 - 40,000

PROVISIONS FOR LIABILITIES 1,394 1,123

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 504,162 416,568
SHAREHOLDERS' FUNDS 504,262 416,668
505,656 457,791

BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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

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

The director acknowledges his 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.

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 director and authorised for issue on 18 July 2024 and were signed by:





A Perryman - Director


BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)

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

1. STATUTORY INFORMATION

Bright Wealth Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 100,000
Disposals (15,000 )
At 31 December 2023 85,000
AMORTISATION
At 1 January 2023 20,000
Charge for year 20,000
At 31 December 2023 40,000
NET BOOK VALUE
At 31 December 2023 45,000
At 31 December 2022 80,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 5,291 8,240 13,531
Additions 997 214 1,211
At 31 December 2023 6,288 8,454 14,742
DEPRECIATION
At 1 January 2023 1,792 5,826 7,618
Charge for year 938 610 1,548
At 31 December 2023 2,730 6,436 9,166
NET BOOK VALUE
At 31 December 2023 3,558 2,018 5,576
At 31 December 2022 3,499 2,414 5,913

BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by participating interests 223,640 -
Other debtors 47,931 47,931
Directors' current accounts 88,834 93,712
Called up share capital not paid 100 100
Prepayments and accrued income 74,607 61,948
435,112 203,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other loans 74,946 84,837
Amounts owed to participating interests - 48,138
Tax 78,431 36,192
Social security and other taxes 16,105 15,318
Pension liability 3,092 3,781
Other creditors 158,328 173,805
Accrued expenses 50,918 27,395
381,820 389,466

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors - 40,000

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Share capital 1 £1 100 100

BRIGHT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07491214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
A Perryman
Balance outstanding at start of year 93,713 26,773
Amounts advanced 115,122 146,940
Amounts repaid (120,000 ) (80,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 88,835 93,713