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Registered number: SC571264









BRIGHTWASTE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BRIGHTWASTE LIMITED
REGISTERED NUMBER: SC571264

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
10,778
15,085

  
10,778
15,085

Current assets
  

Debtors: amounts falling due within one year
 6 
93,559
58,614

Cash at bank and in hand
  
9,526
22,200

  
103,085
80,814

Creditors: amounts falling due within one year
 8 
(274,499)
(271,248)

Net current liabilities
  
 
 
(171,414)
 
 
(190,434)

Total assets less current liabilities
  
(160,636)
(175,349)

Provisions for liabilities
  

Deferred tax
  
(2,662)
(3,771)

  
 
 
(2,662)
 
 
(3,771)

Net liabilities
  
(163,298)
(179,120)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(163,398)
(179,220)

  
(163,298)
(179,120)


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 income and retained earnings 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 24 June 2025.

Roger Green
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Brightwaste Limited is a private company limited by shares incorporated in Scotland. The registration number is SC571264 and registered address is  C/O Spotless Commercial Cleaning Ltd Stuart House, Eskmills, Station Road, Musselburgh, East Lothian, Scotland,EH21 7PB.
The principal activity of the Company in the period under review is to uplift a wide range of materials for recycling. 
The entity is 100% owned by Spotless Commercial Cleaning Limited.
These financial statements have been prepared in pounds sterling, rounded to the nearest pound, as this is the currency of the primary economic environment in which the Company operates.

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 following principal accounting policies have been applied:

  
2.2

Going Concern

In preparing these financial statements, the directors of the company have given careful consideration to current and anticipated future solvency requirements of the company and its ability to continue as a going concern for the foreseeable future. The Directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downturns, the company will have sufficient funds from its operating cash flows and cash reserves to meet its liabilities as they fall due for that period. As part of the sale agreement post year end, the directors of the business will contribute funds via their investors' loan accounts, which will be used to repay the outstanding balances due to the former parent entity. Based on the above, the directors believe it remains appropriate to prepare the financial statements on a going concern basis

Page 2

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

 
2.5

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 3

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Website
-
5
years

Page 4

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

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.

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:

Office equipment
-
20%

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.

 
2.9

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.

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
84,432
82,662

Social security costs
2,626
2,461

Cost of defined contribution scheme
638
604

87,696
85,727


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 October 2023
24,274
1
24,275


Disposals
-
(1)
(1)



At 30 September 2024

24,274
-
24,274



Amortisation


At 1 October 2023
9,190
-
9,190


Charge for the year on owned assets
4,306
-
4,306



At 30 September 2024

13,496
-
13,496



Net book value



At 30 September 2024
10,778
-
10,778



At 30 September 2023
15,084
1
15,085



Page 6

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 October 2023
1,602



At 30 September 2024

1,602



Depreciation


At 1 October 2023
1,602



At 30 September 2024

1,602



Net book value



At 30 September 2024
-



At 30 September 2023
-


6.


Debtors

2024
2023
£
£


Trade debtors
27,383
18,351

Other debtors
6,953
3,930

Prepayments and accrued income
59,223
36,333

93,559
58,614



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,526
22,200

9,526
22,200


Page 7

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
85,866
35,939

Amounts owed to group undertakings
167,168
208,548

Corporation tax
5,449
13,772

Other taxation and social security
9,869
7,742

Other creditors
130
289

Accruals and deferred income
6,017
4,958

274,499
271,248



9.


Pension commitments

The Company operates a defined contributions pension scheme. The scheme assets 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 £638 (2023 - £604).
Contributions totalling £129 (2023 - £111) were payable to the fund at the reporting date and are
included in creditors.


10.


Related party transactions

The company has taken advantage of the exemption under FRS102 Section 33 from requirement to disclose information of transactions with the entities which are part of the group, on the basis that consolidated financial statements are publicly available.
Administrative salaries totalling £44,197 (2023: £55,506) were recharged by Brightwater Services Ltd to Brightwaste Ltd, a company under common control, during the year.
Amounts owed to Brightwater Services Ltd as at the end of the period were £26,427 (2023: £19,405).


11.


Controlling party

The Company’s parent undertaking at the balance sheet date was Spotless Commercial Cleaning Limited.
The Company’s results are included within the consolidated accounts of Spotless Commercial Cleaning Limited. Their registered address is Stuart House Eskmills, Station Road, Musselburgh, East Lothian, Scotland, EH21 7PB.
The ultimate controlling party at the date the accounts were issued was Roger Green.

Page 8

 
BRIGHTWASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Post balance sheet events

After the balance sheet date, Spotless Commercial Cleaning Limited, the ultimate controlling party at 30 September 2024, sold 100% of their shareholding in Brightwaste Limited. This is a non-adjusting event and therefore no changes to the current-year financial statements were required in respect of the corporate reorganisation.


13.


Auditors' information

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

The audit report was signed on 25 June 2025 by Martin Johnston CA (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

 
Page 9