Brightblue Studio Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05071982

BRIGHTBLUE STUDIO LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

BRIGHTBLUE STUDIO LTD

FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 7

BRIGHTBLUE STUDIO LTD

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		44,605		52,964

CURRENT ASSETS

Debtors	6	2,086	2,949
Cash at bank and in hand		1,405	801
		-------	-------
		3,491	3,750

CREDITORS: amounts falling due within one year	7	1,155		5,739
		-------		-------
NET CURRENT ASSETS/(LIABILITIES)			2,336		( 1,989)
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			46,941		50,975

CREDITORS: amounts falling due after more than one year	8		131,723		114,689

PROVISIONS

Taxation including deferred tax	( 16,207)	( 12,255)
	----------	----------
NET LIABILITIES	( 68,575)	( 51,459)
	----------	----------

CAPITAL AND RESERVES

Called up share capital	10	2	2
Profit and loss account		( 68,577)	( 51,461)
		---------	---------
SHAREHOLDERS DEFICIT		( 68,575)	( 51,459)
		---------	---------

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 31st March 2025 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 .

BRIGHTBLUE STUDIO LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

H. O. Amos
Director

Company registration number: 05071982

BRIGHTBLUE STUDIO LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Cliffords Fort, Fish Quay, North Shields, Tyne and Wear, NE30 1JE.

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. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.

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.

Taxation

The taxation expense represents the aggregate amount of 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. 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	-	12% straight line
Fixtures and fittings	-	12% straight line
Computer equipment	-	33% straight line
Leasehold improvements	-	5% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Computer equipment	Leasehold improvements	Total
	£	£	£	£	£
Cost
At 1st April 2024	6,002	55,613	7,388	34,874	103,877
Additions	–	1,669	–	–	1,669
Disposals	–	–	( 1,782)	–	( 1,782)
	-------	---------	-------	---------	----------
At 31st March 2025	6,002	57,282	5,606	34,874	103,764
	-------	---------	-------	---------	----------
Depreciation
At 1st April 2024	5,743	25,376	5,841	13,953	50,913
Charge for the year	136	7,089	1,059	1,744	10,028
Disposals	–	–	( 1,782)	–	( 1,782)
	-------	---------	-------	---------	----------
At 31st March 2025	5,879	32,465	5,118	15,697	59,159
	-------	---------	-------	---------	----------
Carrying amount
At 31st March 2025	123	24,817	488	19,177	44,605
	-------	---------	-------	---------	----------
At 31st March 2024	259	30,237	1,547	20,921	52,964
	-------	---------	-------	---------	----------

6. DEBTORS

	2025	2024
	£	£
Prepayments	717	1,699
Other debtors	1,369	1,250
	-------	-------
	2,086	2,949
	-------	-------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	100	2,776
Accruals	1,055	2,110
Other creditors	–	853
	-------	-------
	1,155	5,739
	-------	-------

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Director's loan account	131,723	114,689
	----------	----------

9. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	( 16,207)	( 12,255)
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	4,831	6,088
Unused tax losses	( 21,038)	( 18,343)
	---------	---------
	(16,207)	(12,255)
	---------	---------

10. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

11. RELATED PARTY TRANSACTIONS

The director, H. O. Amos , continues to support the company and a director's loan account processes the transactions between him and Brightblue Studio Ltd. At the year end, the balance on this loan account was £131,723 (2024: £114,689) and this is included within creditors: amounts falling due after more than one year. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.