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REGISTERED NUMBER: 12166902 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BRIGHT FARMS LIMITED

BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRIGHT FARMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C D R Bright
A M P Bright





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 12166902 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,162,222 1,818,134

CURRENT ASSETS
Debtors 5 24,507 2,237
Cash at bank 96,758 9,394
121,265 11,631
CREDITORS
Amounts falling due within one year 6 63,619 55,522
NET CURRENT ASSETS/(LIABILITIES) 57,646 (43,891 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,219,868 1,774,243

CREDITORS
Amounts falling due after more than one
year

7

(2,097,042

)

(1,703,039

)

PROVISIONS FOR LIABILITIES (11,939 ) (11,510 )
NET ASSETS 110,887 59,694

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 110,787 59,594
SHAREHOLDERS' FUNDS 110,887 59,694

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 directors acknowledge their 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.

BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





C D R Bright - Director


BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

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


1. STATUTORY INFORMATION

Bright Farms 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.

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.

The financial statements have been prepared on a going concern basis which is thought to be appropriate because the directors intend to provide additional funds to meet the company's liabilities as they fall due. The financial statements do not contain any adjustments that might be necessary if the additional funds were not available.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - straight line over 25 years
Plant and machinery - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,843,322 78,191 1,921,513
Additions 382,036 41,063 423,099
Disposals - (31,636 ) (31,636 )
At 31 December 2023 2,225,358 87,618 2,312,976
DEPRECIATION
At 1 January 2023 85,768 17,611 103,379
Charge for year 46,935 11,316 58,251
Eliminated on disposal - (10,876 ) (10,876 )
At 31 December 2023 132,703 18,051 150,754
NET BOOK VALUE
At 31 December 2023 2,092,655 69,567 2,162,222
At 31 December 2022 1,757,554 60,580 1,818,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,477 -
Other debtors 3,030 2,237
24,507 2,237

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,360 29,360
Hire purchase contracts 5,000 3,862
Trade creditors - 5,857
Taxation and social security 26,822 12,259
Other creditors 2,437 4,184
63,619 55,522

BRIGHT FARMS LIMITED (REGISTERED NUMBER: 12166902)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,654,765 1,245,026
Hire purchase contracts 7,500 -
Other creditors 434,777 458,013
2,097,042 1,703,039

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100