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Registration number: 14816612

Brightfox UK Ltd

Unaudited Filleted Financial Statements

for the Period from 20 April 2023 to 30 April 2024

 

Brightfox UK Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Brightfox UK Ltd

(Registration number: 14816612)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

4,728

Tangible assets

5

885

 

5,613

Current assets

 

Stocks

6

20,967

Debtors

7

10,316

Cash at bank and in hand

 

1,581

 

32,864

Creditors: Amounts falling due within one year

8

(88,862)

Net current liabilities

 

(55,998)

Net liabilities

 

(50,385)

Capital and reserves

 

Called up share capital

9

4

Retained earnings

(50,389)

Shareholders' deficit

 

(50,385)

For the financial period ending 30 April 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 period 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.

 

Brightfox UK Ltd

(Registration number: 14816612)
Balance Sheet as at 30 April 2024

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 23 September 2024 and signed on its behalf by:
 

Mr E J Bentley
Director

   
     
 

Brightfox UK Ltd

Notes to the Unaudited Financial Statements for the Period from 20 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bradwood Works
Dunnockshaw
Burnley
Lancashire
BB11 5PW
United Kingdom

These financial statements were authorised for issue by the Board on 23 September 2024.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 

Brightfox UK Ltd

Notes to the Unaudited Financial Statements for the Period from 20 April 2023 to 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Computer and office equipment

3 years straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

10 years straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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.

 

Brightfox UK Ltd

Notes to the Unaudited Financial Statements for the Period from 20 April 2023 to 30 April 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5.

4

Intangible assets

Website development costs
 £

Total
£

Cost or valuation

Additions acquired separately

4,850

4,850

At 30 April 2024

4,850

4,850

Amortisation

Amortisation charge

122

122

At 30 April 2024

122

122

Carrying amount

At 30 April 2024

4,728

4,728

 

Brightfox UK Ltd

Notes to the Unaudited Financial Statements for the Period from 20 April 2023 to 30 April 2024

5

Tangible assets

Computer and office equipment
 £

Total
£

Cost or valuation

Additions

1,274

1,274

At 30 April 2024

1,274

1,274

Depreciation

Charge for the period

389

389

At 30 April 2024

389

389

Carrying amount

At 30 April 2024

885

885

 

Brightfox UK Ltd

Notes to the Unaudited Financial Statements for the Period from 20 April 2023 to 30 April 2024

6

Stocks

2024
£

Other inventories

20,967

7

Debtors

Current

2024
£

Prepayments

421

Other debtors

9,895

 

10,316

8

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

19,884

Accruals and deferred income

2,200

Other creditors

66,778

88,862

9

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary of £1 each

4

4

     

On incorporation the company issued four £1 Ordinary shares at par.