Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-313false2023-01-01No description of principal activity4truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10672957 2023-01-01 2023-12-31 10672957 2022-01-01 2022-12-31 10672957 2023-12-31 10672957 2022-12-31 10672957 c:Director1 2023-01-01 2023-12-31 10672957 c:Director2 2023-01-01 2023-12-31 10672957 c:RegisteredOffice 2023-01-01 2023-12-31 10672957 d:MotorVehicles 2023-01-01 2023-12-31 10672957 d:MotorVehicles 2023-12-31 10672957 d:MotorVehicles 2022-12-31 10672957 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10672957 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10672957 d:OfficeEquipment 2023-01-01 2023-12-31 10672957 d:OfficeEquipment 2023-12-31 10672957 d:OfficeEquipment 2022-12-31 10672957 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10672957 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10672957 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10672957 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10672957 d:CurrentFinancialInstruments 2023-12-31 10672957 d:CurrentFinancialInstruments 2022-12-31 10672957 d:Non-currentFinancialInstruments 2023-12-31 10672957 d:Non-currentFinancialInstruments 2022-12-31 10672957 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10672957 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10672957 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10672957 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10672957 d:ShareCapital 2023-12-31 10672957 d:ShareCapital 2022-12-31 10672957 d:RetainedEarningsAccumulatedLosses 2023-12-31 10672957 d:RetainedEarningsAccumulatedLosses 2022-12-31 10672957 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10672957 c:OrdinaryShareClass1 2023-12-31 10672957 c:OrdinaryShareClass1 2022-12-31 10672957 c:FRS102 2023-01-01 2023-12-31 10672957 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10672957 c:FullAccounts 2023-01-01 2023-12-31 10672957 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10672957 d:WithinOneYear 2023-12-31 10672957 d:WithinOneYear 2022-12-31 10672957 d:BetweenOneFiveYears 2023-12-31 10672957 d:BetweenOneFiveYears 2022-12-31 10672957 2 2023-01-01 2023-12-31 10672957 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 10672957 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 10672957 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 10672957 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 10672957 d:LeasedAssetsHeldAsLessee 2023-12-31 10672957 d:LeasedAssetsHeldAsLessee 2022-12-31 10672957 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10672957









BRIGHTWALL LIMITED








DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BRIGHTWALL LIMITED
 
 
COMPANY INFORMATION


Directors
Simona Belinghieri 
Emanuel Gutu 




Registered number
10672957



Registered office
1st Floor Unit 8 Bermer Place
Imperial Way

Watford

WD24 4AY




Accountants
C.E. Hill & Co. Ltd

Unit 6

Wheatley Business Centre Old London Road

Wheatley

Oxford

OX33 1XW





 
BRIGHTWALL LIMITED
 

CONTENTS



Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 13


 
BRIGHTWALL LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors

The directors who served during the year were:

Simona Belinghieri 
Emanuel Gutu 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 23 August 2024 and signed on its behalf.
 





Emanuel Gutu
Director

Page 1

 
BRIGHTWALL LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRIGHTWALL LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brightwall Limited for the year ended 31 December 2023 which comprise the Profit and loss account, the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Brightwall Limited, as a body, in accordance with the terms of our engagement letter dated 25 May 2017Our work has been undertaken solely to prepare for your approval the financial statements of Brightwall Limited and state those matters that we have agreed to state to the Board of directors of Brightwall Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brightwall Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Brightwall Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Brightwall Limited. You consider that Brightwall Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Brightwall Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



C.E. Hill & Co. Ltd
 
Unit 6
Wheatley Business Centre Old London Road
Wheatley
Oxford
OX33 1XW
23 August 2024
Page 2

 
BRIGHTWALL LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

  

Turnover
  
8,081,661
5,826,410

Cost of sales
  
(7,278,052)
(5,366,633)

Gross profit
  
803,609
459,777

Administrative expenses
  
(535,489)
(371,115)

Other operating income
  
4,919
22,054

Operating profit
  
273,039
110,716

Interest receivable and similar income
  
230
96

Interest payable and similar expenses
  
(13,731)
(6,218)

Profit before tax
  
259,538
104,594

Tax on profit
  
53,293
(24,448)

Profit for the financial year
  
312,831
80,146

The notes on pages 6 to 13 form part of these financial statements.

Page 3

 
BRIGHTWALL LIMITED
REGISTERED NUMBER: 10672957

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
168,861
186,455

  
168,861
186,455

Current assets
  

Stocks
  
51,560
44,495

Debtors: amounts falling due within one year
 5 
1,024,101
1,227,931

Cash at bank and in hand
  
528,945
1,777

  
1,604,606
1,274,203

Creditors: amounts falling due within one year
 6 
(1,131,291)
(1,092,968)

Net current assets
  
 
 
473,315
 
 
181,235

Total assets less current liabilities
  
642,176
367,690

Creditors: amounts falling due after more than one year
 7 
(87,864)
(126,928)

Provisions for liabilities
  

Deferred tax
 8 
(26,211)
(24,316)

  
 
 
(26,211)
 
 
(24,316)

Net assets
  
528,101
216,446

Page 4

 
BRIGHTWALL LIMITED
REGISTERED NUMBER: 10672957
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
528,001
216,346

  
528,101
216,446


The directors consider 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 directors acknowledge their 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 were approved and authorised for issue by the board and were signed on its behalf on 23 August 2024.



Emanuel Gutu
Director

The notes on pages 6 to 13 form part of these financial statements.

Page 5

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

1.


General information

Brightwall Limited is a private company, limited by shares, registered in England and Wales, registration number 10672957. The registered office and principal place of business is 1st Floor Unit 8 Bermer Place, Imperial Way, Watford, England, WD24 4AY.
The company's principal activity was that of providing building services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 6

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

2.Accounting policies (continued)

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 7

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

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

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.

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:

Motor vehicles
-
20%
Office equipment
-
25%

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.

Page 8

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

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

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

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
Page 9

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

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

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 4 (2022 - 3).

Page 10

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

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
224,233
8,815
233,048


Additions
33,335
4,123
37,458


Disposals
(18,995)
-
(18,995)



At 31 December 2023

238,573
12,938
251,511



Depreciation


At 1 January 2023
42,483
4,110
46,593


Charge for the year on owned assets
14,162
2,406
16,568


Charge for the year on financed assets
20,655
-
20,655


Disposals
(1,166)
-
(1,166)



At 31 December 2023

76,134
6,516
82,650



Net book value



At 31 December 2023
162,439
6,422
168,861



At 31 December 2022
181,750
4,705
186,455

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
101,539
140,023

101,539
140,023


5.


Debtors

2023
2022
£
£


Trade debtors
876,557
1,166,866

Other debtors
139,753
55,235

Prepayments and accrued income
7,791
5,830
Page 11

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

5.Debtors (continued)


1,024,101
1,227,931



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
485,971
643,029

Taxation and social security
76,077
53,616

Obligations under finance lease and hire purchase contracts
29,878
27,499

Other creditors
1,701
109,991

Accruals and deferred income
527,664
248,833

1,131,291
1,092,968



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,167
24,178

Net obligations under finance leases and hire purchase contracts
73,697
102,750

87,864
126,928



8.


Deferred taxation




2023


£






At beginning of year
(24,316)


Charged to profit or loss
(1,895)



At end of year
(26,211)

Page 12

 
BRIGHTWALL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(26,211)
(24,316)

(26,211)
(24,316)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £744 (2022: £493). Contributions totalling £172 (2022: £21) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
17,067
-

Later than 1 year and not later than 5 years
18,489
-

35,556
-

 
Page 13