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REGISTERED NUMBER: 13485849 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Brightside Capital Ltd

Brightside Capital Ltd (Registered number: 13485849)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Brightside Capital Ltd

Company Information
for the Year Ended 31 July 2024







Director: N Burac





Registered office: Ellis & Co
114-120 Northgate Street
Chester
CH1 2HT





Registered number: 13485849 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Brightside Capital Ltd (Registered number: 13485849)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
Fixed assets
Investments 4 20 20

Current assets
Debtors 5 268,149 309,770
Cash at bank 439 3,724
268,588 313,494
Creditors
Amounts falling due within one year 6 44,027 1,574
Net current assets 224,561 311,920
Total assets less current liabilities 224,581 311,940

Capital and reserves
Called up share capital 7 12 12
Retained earnings 224,569 311,928
Shareholders' funds 224,581 311,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Brightside Capital Ltd (Registered number: 13485849)

Statement of Financial Position - continued
31 July 2024


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 director and authorised for issue on 28 October 2024 and were signed by:





N Burac - Director


Brightside Capital Ltd (Registered number: 13485849)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. Statutory information

Brightside Capital Ltd 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

Brightside Capital Ltd (Registered number: 13485849)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 August 2023
and 31 July 2024 20
Net book value
At 31 July 2024 20
At 31 July 2023 20

5. Debtors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Amounts owed by group undertakings - 380
Other debtors 268,149 309,390
268,149 309,770

6. Creditors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Amounts owed to group undertakings 41,010 10
Taxation and social security 1,303 -
Other creditors 1,714 1,564
44,027 1,574

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/24 31/7/23
value: £    £   
750 "A" Shares 1p 8 8
70 "B" Shares 1p 1 1
60 "C" Shares 1p 1 1
60 "D" Shares 1p 1 1
60 "E" Shares 1p 1 1
12 12

Brightside Capital Ltd (Registered number: 13485849)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31/7/24 31/7/23
£    £   
N Burac
Balance outstanding at start of year 309,388 -
Amounts advanced 647 396,388
Amounts repaid (109,388 ) (87,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 200,647 309,388

Loans to the director are unsecured, interest free and repayable on demand.

Repayments include £9,388 on 31 March 2024 and £100,000 on 6 April 2024.

The maximum balance outstanding in the year was £309,388.