Company registration number 12405558 (England and Wales)
BRIGHTLIGHT CAPITAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
BRIGHTLIGHT CAPITAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BRIGHTLIGHT CAPITAL LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
317,687
317,687
Current assets
Debtors
5
1,549,843
1,685,613
Investments
6
1,384,005
1,128,275
Cash at bank and in hand
113,796
1,527
3,047,644
2,815,415
Creditors: amounts falling due within one year
7
(3,048,991)
(3,109,244)
Net current liabilities
(1,347)
(293,829)
Total assets less current liabilities
316,340
23,858
Provisions for liabilities
(64,185)
-
0
Net assets
252,155
23,858
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
192,556
-
0
Distributable profit and loss reserves
59,499
23,758
Total equity
252,155
23,858
BRIGHTLIGHT CAPITAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -

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

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
Mr A D Bohanna
Director
Company registration number 12405558 (England and Wales)
BRIGHTLIGHT CAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Brightlight Capital Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor 3 & 4 Cranmere Ct, Lustleigh Close, Matford Business Park, Exeter, Devon, EX2 8PW.

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 £.

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
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BRIGHTLIGHT CAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
317,687

The directors have not revalued the property and there has been no valuation by an independent valuer.

4
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
1,384,005
1,128,275
BRIGHTLIGHT CAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
615
-
0
Other debtors
1,549,228
1,685,613
1,549,843
1,685,613
6
Current asset investments
2024
2023
£
£
Other investments
1,384,005
1,128,275
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
122
-
0
Corporation tax
13,904
6,014
Other creditors
3,029,719
3,101,507
Accruals and deferred income
5,246
1,723
3,048,991
3,109,244
8
Related party transactions
2024
2023
Amounts due to related parties
£
£
Key management personnel
14,721
86,510
Other related parties
3,014,997
3,014,997

No interest has been charged and there is no set date for repayment.

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
1,152,149
1,197,363

No interest has been charged and there is no set date for repayment.

2024-01-312023-02-01falsefalsefalse30 January 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr BohannaMs D L Muller124055582023-02-012024-01-31124055582024-01-31124055582023-01-3112405558core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3112405558core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3112405558core:CurrentFinancialInstruments2024-01-3112405558core:CurrentFinancialInstruments2023-01-3112405558core:ShareCapital2024-01-3112405558core:ShareCapital2023-01-3112405558core:FurtherSpecificReserve1ComponentTotalEquity2024-01-3112405558core:FurtherSpecificReserve1ComponentTotalEquity2023-01-3112405558core:RetainedEarningsAccumulatedLosses2024-01-3112405558core:RetainedEarningsAccumulatedLosses2023-01-3112405558bus:Director12023-02-012024-01-31124055582022-02-012023-01-31124055582023-01-3112405558core:WithinOneYear2024-01-3112405558core:WithinOneYear2023-01-3112405558bus:PrivateLimitedCompanyLtd2023-02-012024-01-3112405558bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3112405558bus:FRS1022023-02-012024-01-3112405558bus:AuditExemptWithAccountantsReport2023-02-012024-01-3112405558bus:Director22023-02-012024-01-3112405558bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP