REGISTERED NUMBER: 10596790 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

BRIGHT SHIFT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

T A Stewart

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

10596790 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

34,780

33,535

34,780

33,535

Current assets

Debtors

6

98,517

73,058

Cash at bank

211,946

108,247

310,463

181,305

Creditors

Amounts falling due within one year

7

161,910

104,537

Net current assets

148,553

76,768

Total assets less current liabilities

183,333

110,303

Creditors

Amounts falling due after more than one year

8

21,724

28,000

Net assets

161,609

82,303

Capital and reserves

Called up share capital

9

100

100

Retained earnings

161,509

82,203

Shareholders' funds

161,609

82,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2025 and were signed by:

T A Stewart - Director

1.	Statutory information

Bright Shift Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4.	Intangible fixed assets

Computer

software

£

Cost

At 1 January 2024

and 31 December 2024

5,025

Amortisation

At 1 January 2024

and 31 December 2024

5,025

Net book value

At 31 December 2024

-

At 31 December 2023

-

5.	Tangible fixed assets

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 January 2024

-

40,300

6,140

46,440

Additions

4,401

-

4,496

8,897

At 31 December 2024

4,401

40,300

10,636

55,337

Depreciation

At 1 January 2024

-

8,640

4,265

12,905

Charge for year

8

5,760

1,884

7,652

At 31 December 2024

8

14,400

6,149

20,557

Net book value

At 31 December 2024

4,393

25,900

4,487

34,780

At 31 December 2023

-

31,660

1,875

33,535

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

92,677

65,075

Other debtors

5,840

7,983

98,517

73,058

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

2,000

2,130

Hire purchase contracts

4,259

4,259

Trade creditors

17,908

19,830

Taxation and social security

95,628

18,903

Other creditors

42,115

59,415

161,910

104,537

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

2,333

4,344

Hire purchase contracts

19,391

23,656

21,724

28,000

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

2

Ordinary A

£0.01

-

-

100

100

10.	Related party disclosures

During the year, the company advanced loans to the director of £126,199 and the company paid a dividend of £127,000.

The balance due to the director at year end is £801 (2023 : £Nil).