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COMPANY REGISTRATION NUMBER: 07073602
M BRIGHT TRANSPORT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2024
M BRIGHT TRANSPORT LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
12,470
16,316
CURRENT ASSETS
Debtors
6
6,114
9,434
CREDITORS: amounts falling due within one year
7
15,016
13,464
--------
--------
NET CURRENT LIABILITIES
8,902
4,030
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,568
12,286
CREDITORS: amounts falling due after more than one year
8
5,000
8,000
PROVISIONS
2,412
4,079
-------
--------
NET (LIABILITIES)/ASSETS
( 3,844)
207
-------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
1
1
Profit and loss account
( 3,845)
206
-------
----
SHAREHOLDERS (DEFICIT)/FUNDS
( 3,844)
207
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
M BRIGHT TRANSPORT LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:
Mr M Bright Director
Company registration number: 07073602
M BRIGHT TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Salcey Close, Barton Seagrave, Northamptonshire, NN15 6TS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operation revenues and banking facilities. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Judgements 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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures, fittings and equipment
-
15% reducing balance and 33 1/3% straight line
Motor vehicles
-
20% reducing balance
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 and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
5,141
1,953
41,285
48,379
Disposals
( 689)
( 544)
( 1,233)
-------
-------
--------
--------
At 30 November 2024
4,452
1,409
41,285
47,146
-------
-------
--------
--------
Depreciation
At 1 December 2023
2,786
1,745
27,532
32,063
Charge for the year
327
18
3,237
3,582
Disposals
( 512)
( 457)
( 969)
-------
-------
--------
--------
At 30 November 2024
2,601
1,306
30,769
34,676
-------
-------
--------
--------
Carrying amount
At 30 November 2024
1,851
103
10,516
12,470
-------
-------
--------
--------
At 30 November 2023
2,355
208
13,753
16,316
-------
-------
--------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
2,574
2,222
Other debtors
3,540
7,212
-------
-------
6,114
9,434
-------
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,065
4,075
Trade creditors
368
230
Corporation tax
1,230
1,246
Social security and other taxes
337
524
Other creditors
8,016
7,389
--------
--------
15,016
13,464
--------
--------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,000
8,000
-------
-------
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Bright
7,031
13,399
( 17,070)
3,360
-------
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Bright
6,421
17,148
( 16,537)
7,032
-------
--------
--------
-------
The loan was repaid on 31 March 2025.
10. GOING CONCERN
The director has considered the period to 31 May 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.