Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3024that of operating hotels2023-07-01false25falsetruefalse 04770779 2023-07-01 2024-06-30 04770779 2022-07-01 2023-06-30 04770779 2024-06-30 04770779 2023-06-30 04770779 2022-07-01 04770779 c:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 04770779 6 2023-07-01 2024-06-30 04770779 6 2022-07-01 2023-06-30 04770779 e:Director1 2023-07-01 2024-06-30 04770779 c:Buildings c:LongLeaseholdAssets 2023-07-01 2024-06-30 04770779 c:Buildings c:ShortLeaseholdAssets 2023-07-01 2024-06-30 04770779 c:Buildings c:ShortLeaseholdAssets 2024-06-30 04770779 c:Buildings c:ShortLeaseholdAssets 2023-06-30 04770779 c:FurnitureFittings 2023-07-01 2024-06-30 04770779 c:FurnitureFittings 2024-06-30 04770779 c:FurnitureFittings 2023-06-30 04770779 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04770779 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04770779 c:CurrentFinancialInstruments 2024-06-30 04770779 c:CurrentFinancialInstruments 2023-06-30 04770779 c:Non-currentFinancialInstruments 2024-06-30 04770779 c:Non-currentFinancialInstruments 2023-06-30 04770779 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 04770779 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 04770779 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 04770779 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 04770779 c:ShareCapital 2023-07-01 2024-06-30 04770779 c:ShareCapital 2024-06-30 04770779 c:ShareCapital 2022-07-01 2023-06-30 04770779 c:ShareCapital 2023-06-30 04770779 c:ShareCapital 2022-07-01 04770779 c:RevaluationReserve 2023-07-01 2024-06-30 04770779 c:RevaluationReserve 2024-06-30 04770779 c:RevaluationReserve c:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 04770779 c:RevaluationReserve 6 2023-07-01 2024-06-30 04770779 c:RevaluationReserve 2022-07-01 2023-06-30 04770779 c:RevaluationReserve 2023-06-30 04770779 c:RevaluationReserve 2022-07-01 04770779 c:RevaluationReserve 6 2022-07-01 2023-06-30 04770779 c:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 04770779 c:RetainedEarningsAccumulatedLosses 2024-06-30 04770779 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-07-01 2024-06-30 04770779 c:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 04770779 c:RetainedEarningsAccumulatedLosses 2023-06-30 04770779 c:RetainedEarningsAccumulatedLosses 2022-07-01 04770779 e:FRS102 2023-07-01 2024-06-30 04770779 e:Audited 2023-07-01 2024-06-30 04770779 e:FullAccounts 2023-07-01 2024-06-30 04770779 e:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04770779 c:WithinOneYear 2024-06-30 04770779 c:WithinOneYear 2023-06-30 04770779 c:BetweenOneFiveYears 2024-06-30 04770779 c:BetweenOneFiveYears 2023-06-30 04770779 c:MoreThanFiveYears 2024-06-30 04770779 c:MoreThanFiveYears 2023-06-30 04770779 e:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04770779 5 2023-07-01 2024-06-30 04770779 f:PoundSterling 2023-07-01 2024-06-30 04770779 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-07-01 2024-06-30 04770779 c:RevaluationReserve c:PreviouslyStatedAmount 2023-06-30 04770779 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-06-30 04770779 c:PreviouslyStatedAmount 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 04770779









MY BRIGHT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MY BRIGHT LIMITED
REGISTERED NUMBER: 04770779

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023 - as restated
Note
£
£

Fixed assets
  

Tangible assets
 6 
12,524,440
17,006,546

  
12,524,440
17,006,546

Current assets
  

Stocks
  
13,193
10,868

Debtors: amounts falling due within one year
 7 
1,171,873
957,097

Cash at bank and in hand
 8 
33,174
173,572

  
1,218,240
1,141,537

Creditors: amounts falling due within one year
 9 
(1,178,094)
(829,409)

Net current assets
  
 
 
40,146
 
 
312,128

Total assets less current liabilities
  
12,564,586
17,318,674

Creditors: amounts falling due after more than one year
 10 
(13,710,151)
(13,716,222)

  

Net (liabilities)/assets
  
(1,145,565)
3,602,452


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
  
492,042
4,759,033

Profit and loss account
  
(1,638,607)
(1,157,581)

  
(1,145,565)
3,602,452


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.


A Thrasyvoulou
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 1

 
MY BRIGHT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2023 (as previously stated)
1,000
3,240,334
254,572
3,495,906

Prior year adjustment - correction of reserves
-
1,518,699
(1,412,153)
106,546

At 1 July 2023 (as restated)
1,000
4,759,033
(1,157,581)
3,602,452


Comprehensive income for the year

Loss for the year
-
-
(481,026)
(481,026)

Deficit on revaluation of leasehold property
-
(4,266,991)
-
(4,266,991)
Total comprehensive income for the year
-
(4,266,991)
(481,026)
(4,748,017)


At 30 June 2024
1,000
492,042
(1,638,607)
(1,145,565)


The notes on pages 4 to 14 form part of these financial statements.

Page 2

 
MY BRIGHT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
1,000
3,158,723
265,405
3,425,128


Comprehensive income for the year

Loss for the year
-
-
(193,690)
(193,690)

Surplus on revaluation of leasehold property - restated
-
371,014
-
371,014
Total comprehensive income for the year
-
371,014
(193,690)
177,324

Transfer to/from profit and loss account
-
1,229,296
(1,229,296)
-


At 30 June 2023 - As restated
1,000
4,759,033
(1,157,581)
3,602,452


The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

My Bright Limited ('the company') is a private company limited by shares and is incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS. The address of its place of business is 17 Jubilee Street, Brighton BN1 1GE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

 
2.2

Going concern

The company meets its day to day working capital requirements through arrangements with related UK companies under the control of the director, and its bank facilities, which is secured jointly on the assets of the company and a related entity, New World Hospitality UK Limited. 
Throughout the period and on an ongoing basis the company has and continues to have the full support of its bankers. On 7 October 2024 the director completed a refinance extending a facility of £30m for the two companies through to 31 January 2028
In assessing the appropriateness of the going concern basis the director has taken into account all relevant information covering a period of at least twelve months from the date of approval of the financial statements and considers that the company will have adequate funds available to meet its liabilities as they fall due. Accordingly, he considers it appropriate to prepare the financial statements on a going concern basis.

Page 4

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue within the company comprises the following: 
Income from rooms
Revenue consists of charges made for occupancy of hotel rooms and  is recognised when rooms are occupied and services have been rendered. 
Income from bars and restaurants 
Revenue comprises sales of food and drink, including mini bar facilities at the hotel and is recognised as income at the point of sale.  
Income from hires
Revenues from hiring of meeting rooms, conference facilities and provision of catering services for events are recognised at the point of event date.  
Income from concessions
Revenue is recognised in accordance with the terms of individual contracts.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 5

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
straight line
Fixtures and fittings
-
15%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Revaluation of tangible fixed assets

The long-term leasehold property is initially recognised at cost. After recognition, under the revaluation  model, it is carried at fair value, determined with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at each Statement of Financial Position date.
                                                                                                                                                                 Such fair values are determined by periodic reference to external valuers and derived from market based evidence. 
                                                                                                                                                                  Revaluation gains and losses are recognised in the Statement of Comprehensive Income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
                                                                                                                                                          Where an asset that was previously revalued is disposed of, its book value is eliminated and appropriate transfer is made from the revaluation reserve to the profit and loss reserve.
                                                                                                                                                                An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less
costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

Finance costs

Finance costs are charged to the Statement of Comprehensive Income in the year in which they are incurred.

 
2.12

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 7

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
In preparing these financial statements, the director has had to make the following judgements:
Revaluation of land and buildings
The company carries its land and buildings at fair value, with changes in fair value being recognised in other comprehensive income. The company's bankers engaged independent valuation specialists to determine fair value at 8 March 2022. The director has reflected those valuations at 30 June 2022 as they are not materially different.


4.

Revenue

Analysis of turnover by class of business is as follows:

2024
2023
        £
        £
Food and beverages

405,535

390,943
 
Accommodation sales

1,914,371

2,163,440
 
Other sales

132,756

168,519
 

2,452,662

2,722,902
 

All turnover arose within the United Kingdom.


5.


Employees

2024
2023
£
£

Wages and salaries
462,108
545,464

Social security costs
27,512
28,882

Cost of defined contribution scheme
14,370
13,588

503,990
587,934


The average monthly number of employees, including directors, during the year was 25 (2023 - 24).

Page 8

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Tangible fixed assets





Long-term leasehold property - restated
Fixtures and fittings
Total - restated

£
£
£



Cost or valuation


At 1 July 2023
16,900,000
4,080,970
20,980,970


Additions
130,472
34,810
165,282


Revaluations
(4,605,472)
-
(4,605,472)



At 30 June 2024

12,425,000
4,115,780
16,540,780



Depreciation


At 1 July 2023
-
3,974,424
3,974,424


Charge for the year on owned assets
338,479
41,916
380,395


On revalued assets
(338,479)
-
(338,479)



At 30 June 2024

-
4,016,340
4,016,340



Net book value



At 30 June 2024
12,425,000
99,440
12,524,440



At 30 June 2023
16,900,000
106,546
17,006,546

The leasehold property was included at fair value of £12,425,000 as at 30 June 2024 based on an external professional market valuation of the hotel on an existing use basis. The director is confident that the market valuation provided best represents the fair value of the property as at the reporting date.



If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
16,914,996
16,784,524

Accumulated depreciation
(5,266,602)
(4,928,550)

Net book value
11,648,394
11,855,974

Page 9

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Amounts owed by related undertakings
1,024,435
836,870

Other debtors
19,160
7,579

Prepayments and accrued income
128,278
112,648

1,171,873
957,097



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
33,174
173,572

Less: bank overdrafts
(401,976)
-

(368,802)
173,572



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
401,976
-

Trade creditors
184,676
278,664

Excess proceeds on sale and leaseback
27,338
27,338

Amounts owed to related undertakings
104,637
104,637

Other taxation and social security
76,693
62,300

Obligations under finance lease and hire purchase contracts
30,971
22,066

Other creditors
244,476
251,907

Accruals and deferred income
107,327
82,497

1,178,094
829,409


Amounts owed to related undertakings are unsecured and are repayable on demand.

Page 10

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,436,275
-

Net obligations under finance leases and hire purchase contracts
5,133
23,271

Amounts owed to related undertakings
7,796,799
10,193,669

Other creditors
3,471,944
3,499,282

13,710,151
13,716,222


Loan from related undertaking
The loan from the related undertaking bears interest at the margin of 3.25% plus SONIA, plus Credit Adjustment Spread.
Excess proceeds on sale and leaseback
In the year ended 30 June 2013 the company entered into a sale and leaseback arrangement over its leasehold property. The arrangement generated an excess of sales proceeds above the carrying amount of £3.8 million to be amortised over the life of the lease.
Bank loans
Bank loans and overdraft are secured by a fixed and floating charge over all the assets of the company and of a related undertaking, New World Hospitality UK Limited with the exception of amounts owed by connected companies.On the 16th February 2024, New World Hospitality UK transferred their existing CIBIL loans with Lloyds totalling aprox. £2.4m, Facilities 'E-F' to My Bright Limited.  The bank loan is repayable in January 2025. 
Total existing bank loans, taken out in March 2022 are repayable in 8 consecutive quarterly instalments commencing 12 months after the date the loan was borrowed. The first 7 instalments amount to £50,000 and the final instalment shall be in the amount equal to the amount of the loan outstanding on the final repayment date. Interest is charged at the aggregate of 3.25% per annum plus SONIA, plus CAS. SONIA refers to the daily SONIA rates compounded in arrears for 3-month periods. The relevant CAS, fixed term for the loan is 0.1193% for 3 months drawings.
On 7 October 2024 the director completed a refinance extending a facility of £30m for the two companies, with the new loan to be held in My Bright Limited. The term of the new loan  is 3 years from the date of the facility agreement plus two, one- year extension options available at the Lender(s) sole and absolute discretion. Repayment consists of Interest only for 2 years followed by a 40-year amortisation profile with an amount of £187,500 to be repaid at each interest payment date subject to the Financial Covenants with the repayable in full at maturity. Interest is charged at  SONIA, compounded between interest payment dates in arrears with a fiveday lag, floored at zero, plus Margin. The hedging will be for a minimum of 66% of the Facility Amount at all times during the Term in a form satisfactory to the Arranger.
The director has reviewed the loan classified as due greater than one year and confirm it remains appropriate, considering its refinancing after the year-end and current position.
There is no change to the security held against the existing Lloyds loans.

Page 11

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Prior year adjustment

A prior period adjustment relating to the correction of revaluation of long-term leasehold property and correction of transfers between the profit and loss reserve and revaluation reserve for the excess of depreciation on revalued amount compared to depreciation on historical cost was made.
The net impact on the correction of the revaluation of long-term leasehold property was to increase the net book value of tangible assets, total equity and total comprehensive income  in the prior year by £106,546. There was no impact on the loss for the financial year.
The impact on the correction of the of transfers between the profit and loss reserve and revaluation reserve for the excess of depreciation on revalued amount compared to depreciation on historical cost is to increase the revaluation reserve and decrease the profit and loss reserve by £1,412,153 in the prior year. There is no net impact on total equity or total comprehensive income.


12.


Contingent liabilities

The company has given legal charges over its long leasehold property and inter-connected cross guarantees to secure repayment of the bank loan of its related undertaking, New World Hospitality UK Limited. At the reporting date, the total loan amount outstanding was £23,272,786 (2023: £26,008,799).


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,877 (2023: £13,588). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the reporting date.


14.


Commitments under operating leases

At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
224,465
213,776

Later than 1 year and not later than 5 years
897,859
855,104

Later than 5 years
27,574,749
26,472,585

28,697,073
27,541,465

Page 12

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

15.


Related party transactions

Other debtors and creditors balances include amounts owed by and owed to companies in which A Thrasyvoulou is either a director or has a significant influence on the general running of the business.


2024
2023
£
£

Accounts owed by related undertakings


Calhurst Limited
954,845
770,609

Arisco Properties Limited
8,863
6,283

Prostoparon Limited (formerly Experience RAW Limited)
-
-

Roundlodge Limited
60,727
59,978

1,024,435
836,870


Amounts owed to related undertakings


Panzer Properties Limited
-
-

New Parkgate Limited
(99,637)
(99,637)

New World Hospitality Limited
(7,796,799)
(10,193,669)

Airminster Limited
(5,000)
(5,000)

(7,901,436)
(10,298,306)

Except for the balance due from New World Hospitality UK Limited, amounts due to and by related undertakings, are unsecured, interest free and payable/repayable on demand.
Creditors falling due after more than one year comprise a loan from a related undertaking, New World Hospitality UK Limited. During the year the company paid loan interest of £582,706 (2023: £509,624) to New World Hospitality UK Limited.
During the year, the company paid management charges of £124,400 (2023: £124,400) to New World Hospitality UK Limited in respect of hotel services. The company was also recharged staff and other costs by New World Hospitality UK Limited in line with the proportionate activity of the two entities.
Additionally the company has entered into unlimited corporate guarantees along with its related undertaking, New World Hospitality UK Limited, in respect of all liabilities incurred between them.


16.


Controlling party

The ultimate controlling party is A Thrasyvoulou, sole director and shareholder of the company.

Page 13

 
MY BRIGHT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

17.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 18 March 2025 by Ankit Shah (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

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