0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,838 246 2,084 49 49 2,035 1,838 xbrli:pure xbrli:shares iso4217:GBP 01397215 2023-02-01 2024-01-31 01397215 2024-01-31 01397215 2023-01-31 01397215 2022-02-01 2023-01-31 01397215 2023-01-31 01397215 2022-01-31 01397215 core:PlantMachinery 2023-02-01 2024-01-31 01397215 bus:Director1 2023-02-01 2024-01-31 01397215 core:PlantMachinery 2024-01-31 01397215 core:WithinOneYear 2024-01-31 01397215 core:WithinOneYear 2023-01-31 01397215 core:ShareCapital 2024-01-31 01397215 core:ShareCapital 2023-01-31 01397215 core:RetainedEarningsAccumulatedLosses 2024-01-31 01397215 core:RetainedEarningsAccumulatedLosses 2023-01-31 01397215 core:PlantMachinery 2023-01-31 01397215 core:PlantMachinery 2023-01-31 01397215 bus:Director1 2023-01-31 01397215 bus:Director1 2024-01-31 01397215 bus:Director1 2022-01-31 01397215 bus:Director1 2023-01-31 01397215 bus:Director1 2022-02-01 2023-01-31 01397215 bus:SmallEntities 2023-02-01 2024-01-31 01397215 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01397215 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01397215 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01397215 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 01397215
Brandbright Limited
Filleted Unaudited Financial Statements
31 January 2024
Brandbright Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
2,035
1,838
Current assets
Stocks
5,000
2,250
Debtors
5
972
Cash at bank and in hand
7,812
2,133
--------
-------
12,812
5,355
Creditors: amounts falling due within one year
6
11,549
10,430
--------
--------
Net current assets/(liabilities)
1,263
( 5,075)
-------
-------
Total assets less current liabilities
3,298
( 3,237)
-------
-------
Net assets/(liabilities)
3,298
( 3,237)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
3,296
( 3,239)
-------
-------
Shareholders funds/(deficit)
3,298
( 3,237)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Brandbright Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
Mr K N Vine
Director
Company registration number: 01397215
Brandbright Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is April Cottage, Park View, Cirencester, Gloucestershire, GL7 2JG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 February 2023
1,838
1,838
Additions
246
246
-------
-------
At 31 January 2024
2,084
2,084
-------
-------
Depreciation
At 1 February 2023
Charge for the year
49
49
-------
-------
At 31 January 2024
49
49
-------
-------
Carrying amount
At 31 January 2024
2,035
2,035
-------
-------
At 31 January 2023
1,838
1,838
-------
-------
5. Debtors
2024
2023
£
£
Trade debtors
972
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
318
103
Social security and other taxes
269
Other creditors
11,231
10,058
--------
--------
11,549
10,430
--------
--------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K N Vine
( 8,963)
( 1,188)
( 10,151)
-------
-------
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K N Vine
( 1,146)
( 7,817)
( 8,963)
-------
-------
-------