Company registration number 06192799 (England and Wales)
BRIGHTEN INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BRIGHTEN INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BRIGHTEN INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
€
€
€
€
Fixed assets
Investments
3
685,447
79,188
Current assets
Debtors
5
191,329
295,915
Cash at bank and in hand
213,373
780,785
404,702
1,076,700
Creditors: amounts falling due within one year
6
(42,636)
(63,901)
Net current assets
362,066
1,012,799
Net assets
1,047,513
1,091,987
Capital and reserves
Called up share capital
7
467,243
467,243
Profit and loss reserves
580,270
624,744
Total equity
1,047,513
1,091,987

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 October 2025 and are signed on its behalf by:
Caroline Kochan
Director
Company registration number 06192799 (England and Wales)
BRIGHTEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Brighten Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Office 1 35 Princess Street, Rochdale, Lancashire, OL12 0HA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover from the license agreement for the provision of professional services is recognised as all income arising from the exploitation of the Intellectual Property. The revenue the company is entitled to is the percentage as stated in the license agreement which is based upon all income arising from the exploitation of the Intellectual Property less any associated costs.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets include debtors and cash and bank balances.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash at bank and in hand

Cash at bank and in hand include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

BRIGHTEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities includ e creditors. Creditors are not interest bearing and are stated at their nominal value.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

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.

1.7
Foreign exchange

Transactions in currencies other than euros are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
BRIGHTEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Fixed asset investments
2024
2023
€
€
Shares in group undertakings and participating interests
19,000
19,000
Other investments other than loans
666,447
60,188
685,447
79,188

Other investments include investments in bare shares in respect of a number of properties valued at €60,188 (2023: €60,188). Once the usufruct agreement has expired then the company will own these properties provided that the bare shares have not been disposed of prior to the completion of the usufruct agreement(s).

The value of the property in respect of the bare shares were impaire d due to an earthquake several year s ago which had a detrimental impact on the property values in the area. The revaluation regarding the impairment was carried out on 25 October 2017.

Movements in fixed asset investments
Shares in subsidiaries
Listed investments
Other
Total
€
€
€
€
Cost or valuation
At 1 January 2024
19,000
-
60,188
79,188
Additions
-
586,063
-
586,063
Valuation changes
-
20,196
-
20,196
At 31 December 2024
19,000
606,259
60,188
685,447
Carrying amount
At 31 December 2024
19,000
606,259
60,188
685,447
At 31 December 2023
19,000
-
60,188
79,188
BRIGHTEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Beta srl
Italy
Ordinary
100.00
-
For Test Italia srl
Italy
Ordinary
90.00
10.00
The aggregate capital and reserves and the result for the year ended 31 December 2024 of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
€
€
Beta srl
559,006
114,484
For Test Italia srl
1,085,436
209,785
5
Debtors
2024
2023
Amounts falling due within one year:
€
€
Trade debtors
85,656
221,997
Corporation tax recoverable
73,755
-
0
Other debtors
31,918
73,918
191,329
295,915

Included within Other debtors is an amount of €7,448 (2023: €20,196) relating to withholding taxes on royalty income. These withholding taxes will be utilised once the trade debtors of €85,656 (2023: €221,997) have been settled.

6
Creditors: amounts falling due within one year
2024
2023
€
€
Trade creditors
10,276
-
0
Corporation tax
-
0
34,017
Other creditors
32,360
29,884
42,636
63,901
7
Called up share capital
2024
2023
€
€
Ordinary share capital
Issued and fully paid
467,243 Ordinary shares of €1 each
467,243
467,243
BRIGHTEN INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
8
Related party transactions

Included within other debtors is an interest free loan of €1,047 (20 2 3 - €1,047) due from the shareholders, which is repayable on demand.

Included in other debtors is an amount due from For Test Italia SRL of €3,192 (20 2 3 - €3,192). The loan is interest free and repayable on demand.

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