Company Registration No. 05144978 (England and Wales)
Bright Artificial Intelligence Limited
Unaudited accounts
for the year ended 30 June 2024
Bright Artificial Intelligence Limited
Unaudited accounts
Contents
Bright Artificial Intelligence Limited
Company Information
for the year ended 30 June 2024
Directors
A Barker
D M Lane
J G Lochner
Company Number
05144978 (England and Wales)
Registered Office
Mayflower Accountancy & Tax Ltd
The Angel Business Centre
Luton Road, Toddington
Dunstable
Bedfordshire
LU5 6DE
England
Bright Artificial Intelligence Limited
Statement of financial position
as at 30 June 2024
Cash at bank and in hand
25
648
Creditors: amounts falling due within one year
(21,822)
(21,379)
Net current assets
10,584
10,082
Called up share capital
6
6
Profit and loss account
10,976
10,659
Shareholders' funds
10,982
10,665
For the year ending 30 June 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 28 March 2025 and were signed on its behalf by
D M Lane
Director
Company Registration No. 05144978
Bright Artificial Intelligence Limited
Notes to the Accounts
for the year ended 30 June 2024
Bright Artificial Intelligence Limited is a private company, limited by shares, registered in England and Wales, registration number 05144978. The registered office is Mayflower Accountancy & Tax Ltd, The Angel Business Centre, Luton Road, Toddington, Dunstable, Bedfordshire, LU5 6DE, England.
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:
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on reducing balance
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
2,820
27,567
30,387
At 30 June 2024
2,820
27,567
30,387
At 1 July 2023
2,725
27,079
29,804
Charge for the year
24
161
185
At 30 June 2024
2,749
27,240
29,989
At 30 June 2024
71
327
398
At 30 June 2023
95
488
583
Bright Artificial Intelligence Limited
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Other debtors
10,496
5,940
Amounts falling due after more than one year
Amounts due from group undertakings etc.
17,405
21,988
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,996
5,691
Trade creditors
2,776
2,359
Taxes and social security
3,696
2,041
Other creditors
7,685
8,574
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
As at 30 June 2024 included within other debtors falling due within one year are director loan balances : £353 (2023: £353) due from director Mr A Barker, £8,280 (2023: £3,725) due from director Mr D M Lane, £1,862 (2023: £1,862) due from director Mr J G Lochner.
8
Transactions with related parties
Included within other debtors falling due after one year is a balance of £17,405 (2023: £21,988) due from Fat Fish Digital Limited, a company in which Mr D M Lane is a director and a shareholder.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).