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REGISTERED NUMBER: 07953406 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 AUGUST 2022 TO 29 FEBRUARY 2024

FOR

BRITES ASSOCIATES LIMITED

BRITES ASSOCIATES LIMITED (REGISTERED NUMBER: 07953406)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 AUGUST 2022 TO 29 FEBRUARY 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


BRITES ASSOCIATES LIMITED (REGISTERED NUMBER: 07953406)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 59,896 74,767

CURRENT ASSETS
Debtors 5 435,938 752,967
Cash at bank and in hand 822,785 654,873
1,258,723 1,407,840
CREDITORS
Amounts falling due within one year 6 970,099 613,393
NET CURRENT ASSETS 288,624 794,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,520

869,214

PROVISIONS FOR LIABILITIES 7 10,063 -
NET ASSETS 338,457 869,214

CAPITAL AND RESERVES
Called up share capital 23,762 23,762
Retained earnings 314,695 845,452
338,457 869,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2025 and were signed by:





Mr D W Avery - Director


BRITES ASSOCIATES LIMITED (REGISTERED NUMBER: 07953406)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 AUGUST 2022 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Brites Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07953406

Registered office: Suite 500, Aw House
6-8 Stuart Street,
Luton
Bedfordshire
LU1 2SJ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% reducing balance
Motor vehicles - 20% reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.


BRITES ASSOCIATES LIMITED (REGISTERED NUMBER: 07953406)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 AUGUST 2022 TO 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 83 (2022 - 155 ) .

BRITES ASSOCIATES LIMITED (REGISTERED NUMBER: 07953406)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 AUGUST 2022 TO 29 FEBRUARY 2024

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 31 August 2022 19,643 131,964 10,688 162,295
Additions - 5,513 - 5,513
At 29 February 2024 19,643 137,477 10,688 167,808
DEPRECIATION
At 31 August 2022 - 80,671 6,857 87,528
Charge for period - 19,234 1,150 20,384
At 29 February 2024 - 99,905 8,007 107,912
NET BOOK VALUE
At 29 February 2024 19,643 37,572 2,681 59,896
At 30 August 2022 19,643 51,293 3,831 74,767

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 409,369 665,380
Other debtors 26,569 87,587
435,938 752,967

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 120,674 405,383
Amounts owed to group undertakings 264,700 -
Taxation and social security 23,953 66,876
Other creditors 560,772 141,134
970,099 613,393

7. PROVISIONS FOR LIABILITIES
2024 2022
£    £   
Deferred tax
Accelerated capital allowances 10,063 -

Deferred
tax
£   
Provided during period 10,063
Balance at 29 February 2024 10,063

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

BRITES ASSOCIATES LIMITED (REGISTERED NUMBER: 07953406)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 AUGUST 2022 TO 29 FEBRUARY 2024

9. CHANGE IN COMPARATIVES

The accounts have been prepared for a period of 18 months whereas the comparatives are for a period of 12 months.