Bright Partnership Limited 14515613 false 2022-11-30 2024-03-31 2024-03-31 The principal activity of the company is Accounting and auditing activities Digita Accounts Production Advanced 6.30.9574.0 true true 14515613 2022-11-30 2024-03-31 14515613 2024-03-31 14515613 bus:OrdinaryShareClass1 bus:OtherShareType 2024-03-31 14515613 core:RetainedEarningsAccumulatedLosses 2024-03-31 14515613 core:ShareCapital 2024-03-31 14515613 core:CurrentFinancialInstruments 2024-03-31 14515613 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14515613 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14515613 core:Goodwill 2024-03-31 14515613 bus:SmallEntities 2022-11-30 2024-03-31 14515613 bus:Audited 2022-11-30 2024-03-31 14515613 bus:FilletedAccounts 2022-11-30 2024-03-31 14515613 bus:SmallCompaniesRegimeForAccounts 2022-11-30 2024-03-31 14515613 bus:RegisteredOffice 2022-11-30 2024-03-31 14515613 bus:Director1 2022-11-30 2024-03-31 14515613 bus:Director2 2022-11-30 2024-03-31 14515613 bus:Director3 2022-11-30 2024-03-31 14515613 bus:Director4 2022-11-30 2024-03-31 14515613 bus:Director5 2022-11-30 2024-03-31 14515613 bus:OrdinaryShareClass1 bus:OtherShareType 2022-11-30 2024-03-31 14515613 bus:PrivateLimitedCompanyLtd 2022-11-30 2024-03-31 14515613 core:Goodwill 2022-11-30 2024-03-31 14515613 countries:EnglandWales 2022-11-30 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14515613

Bright Partnership Limited

Filleted Unaudited Financial Statements

for the Period from 30 November 2022 to 31 March 2024

 

Bright Partnership Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Bright Partnership Limited

Company Information

Directors

Mr Michael George Senior

Michael Paul Gillibrand

Neil Anthony Kennington

Nicola Hutchings

Alison Greenwood

Registered office

Unit 26 Edward Court
Broadheath
Altrincham
WA14 5GL

Accountants

Bright Partnership Limited
Unit 26 Edward Court
Altrincham Business Park
Altrincham
WA14 5GL

 

Bright Partnership Limited

(Registration number: 14515613)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

266,667

Current assets

 

Debtors

5

228,612

Cash at bank and in hand

 

181,357

 

409,969

Creditors: Amounts falling due within one year

6

(578,311)

Net current liabilities

 

(168,342)

Total assets less current liabilities

 

98,325

Creditors: Amounts falling due after more than one year

6

(55,000)

Net assets

 

43,325

Capital and reserves

 

Called up share capital

7

1

Retained earnings

43,324

Shareholders' funds

 

43,325

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
Mr Michael George Senior
Director

 

Bright Partnership Limited

Notes to the Financial Statements for the Period from 30 November 2022 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 26 Edward Court
Broadheath
Altrincham
WA14 5GL
England

These financial statements were authorised for issue by the Board on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 4 October 2024 was , who signed for and on behalf of .

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Bright Partnership Limited

Notes to the Financial Statements for the Period from 30 November 2022 to 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Bright Partnership Limited

Notes to the Financial Statements for the Period from 30 November 2022 to 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 24.

 

Bright Partnership Limited

Notes to the Financial Statements for the Period from 30 November 2022 to 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

266,667

266,667

At 31 March 2024

266,667

266,667

Amortisation

Carrying amount

At 31 March 2024

266,667

266,667

5

Debtors

Current

2024
£

Trade debtors

189,036

Other debtors

39,576

 

228,612

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

15,000

Trade creditors

 

103,182

Taxation and social security

 

106,353

Other creditors

 

353,776

 

578,311

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

55,000

7

Share capital

Allotted, called up and fully paid shares

 

Bright Partnership Limited

Notes to the Financial Statements for the Period from 30 November 2022 to 31 March 2024

2024

No.

£

Ordinary share capital of £1 each

1

1