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Registration number: 03618047

Brightwater Landscapes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Brightwater Landscapes Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Brightwater Landscapes Limited

Company Information

Directors

J C Neave

J F Cartwright

Company secretary

J F Cartwright

Registered office

The Garden House
Cliff Road
Saxby
Market Rasen
LN8 2DQ

 

Brightwater Landscapes Limited

(Registration number: 03618047)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

105,004

106,137

Investment property

5

345,000

329,184

 

450,004

435,321

Current assets

 

Stocks

6

515

575

Debtors

7

3,013

5,480

Cash at bank and in hand

 

21,596

40,713

 

25,124

46,768

Creditors: Amounts falling due within one year

8

(86,516)

(107,729)

Net current liabilities

 

(61,392)

(60,961)

Total assets less current liabilities

 

388,612

374,360

Provisions for liabilities

(33,670)

(29,549)

Net assets

 

354,942

344,811

Capital and reserves

 

Called up share capital

10

2

2

Other reserves

136,452

124,590

Retained earnings

218,488

220,219

Shareholders' funds

 

354,942

344,811

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

.........................................
J C Neave
Director

 

Brightwater Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03618047.

The address of its registered office is:
The Garden House
Cliff Road
Saxby
Market Rasen
LN8 2DQ

These financial statements cover the individual entity, Brightwater Landscapes Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006, subject to the departure detailed below.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Departures from Companies Act requirements

No depreciation has been charged on property improvements as the properties are maintained to such a standard that the residual value is not less than the cost. Management have concluded that this does not affect the accounts from showing a true and fair view. Apart from this departure, the company has complied with the relevant accounting standards and legislation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services and rent receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Brightwater Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

25% reducing balance

Investment properties

no depreciation is charged

Property improvements

no depreciation is charged

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the company's directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. The valuation was carried out by Mundys Estate Agents who are external valuers.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stock

Stock is stated at the lower cost and estimated selling price less costs to complete and sell.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Brightwater Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 3 (2023 - 2).

 

Brightwater Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

79,311

18,204

83,607

181,122

Additions

-

880

4,680

5,560

At 31 August 2024

79,311

19,084

88,287

186,682

Depreciation

At 1 September 2023

11,789

15,355

47,841

74,985

Charge for the year

-

820

5,873

6,693

At 31 August 2024

11,789

16,175

53,714

81,678

Carrying amount

At 31 August 2024

67,522

2,909

34,573

105,004

At 31 August 2023

67,522

2,849

35,766

106,137

5

Investment properties

2024
£

At 1 September 2022

329,184

Fair value adjustments

15,816

At 31 August 2023

345,000

6

Stock

2024
£

2023
£

Stock

515

575

 

Brightwater Landscapes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

490

1,430

Prepayments and accrued income

1,650

1,518

Other debtors

873

2,532

 

3,013

5,480

8

Creditors

2024
£

2023
£

Due within one year

Trade creditors

2,054

311

Taxation and social security

531

240

Other creditors

77,713

100,669

Accruals and deferred income

6,218

6,509

86,516

107,729

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

77,113

100,069

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

11

Related party transactions

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

79,113

2023

Key management
£

Amounts payable to related party

100,069