Company registration number 02686062 (England and Wales)
BRIGHTLING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
BRIGHTLING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BRIGHTLING LTD (REGISTERED NUMBER: 02686062)
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,368,430
11,368,430
Current assets
Debtors
4
442,579
487,654
Cash at bank and in hand
160,694
308,358
603,273
796,012
Creditors: amounts falling due within one year
5
(40,007)
(60,513)
Net current assets
563,266
735,499
Total assets less current liabilities
11,931,696
12,103,929
Creditors: amounts falling due after more than one year
6
(3,300,637)
(3,500,000)
Provisions for liabilities
(2,015,745)
(1,531,966)
Net assets
6,615,314
7,071,963
Capital and reserves
Called up share capital
500
500
Revaluation reserve
5,901,427
6,385,206
Profit and loss reserves
713,387
686,257
Total equity
6,615,314
7,071,963

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BRIGHTLING LTD (REGISTERED NUMBER: 02686062)
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 September 2024
P Borello
Director
BRIGHTLING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Brightling Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the fair value of the consideration received or receivable for the rental properties in the ordinary course of the company’s activities.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0% per annum
Leasehold land and buildings
0% per annum
Fixtures and fittings
20% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BRIGHTLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
11,368,430
61,896
11,430,326
Depreciation and impairment
At 1 March 2023 and 29 February 2024
-
0
61,896
61,896
Carrying amount
At 29 February 2024
11,368,430
-
0
11,368,430
At 28 February 2023
11,368,430
-
0
11,368,430
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
442,579
487,654
BRIGHTLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
472
-
0
Taxation and social security
7,150
22,291
Other creditors
32,385
38,222
40,007
60,513
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,300,637
3,500,000
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