Company Registration No. 10403089 (England and Wales)
Brightnell Development Ltd
Unaudited accounts
for the year ended 30 September 2024
Brightnell Development Ltd
Unaudited accounts
Contents
Brightnell Development Ltd
Company Information
for the year ended 30 September 2024
Directors
David Joseph Sharpe
Joanne Elizabeth Sharpe
Jonathan Ritchie Sharpe
Ritchie John Sharpe
Company Number
10403089 (England and Wales)
Registered Office
6 Edison Village
Science And Technology Park
Nottingham
NG7 2RF
United Kingdom
Accountants
Archimedia Accounts
6 Edison Village
Nottingham Science & Technology Park
Nottingham
Nottinghamshire
NG72RF
Brightnell Development Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
1,398
1,443
Investment property
490,000
343,792
Cash at bank and in hand
15,574
9,416
Creditors: amounts falling due within one year
(368,482)
(365,539)
Net current liabilities
(352,908)
(356,123)
Total assets less current liabilities
138,490
(10,888)
Provisions for liabilities
Net assets/(liabilities)
110,445
(10,888)
Called up share capital
100
100
Fair value reserve
118,428
-
Profit and loss account
(8,083)
(10,988)
Shareholders' funds
110,445
(10,888)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
Ritchie John Sharpe
Director
Company Registration No. 10403089
Brightnell Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
Brightnell Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 10403089. The registered office is 6 Edison Village, Science And Technology Park , Nottingham, NG7 2RF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Brightnell Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
At 30 September 2024
2,958
At 30 September 2024
1,560
At 30 September 2024
1,398
At 30 September 2023
1,443
Fair value at 1 October 2023
343,792
Net gain from fair value adjustments
146,208
At 30 September 2024
490,000
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
367,499
364,579
7
Transactions with related parties
During the year, interest free loans from directors totalled £367499 (2023: £364579).
8
Average number of employees
During the year the average number of employees was 4 (2023: 4).