Registration number:
Bright Future Design & Consultants Ltd
for the Year Ended 31 March 2025
Bright Future Design & Consultants Ltd
Contents
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Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Bright Future Design & Consultants Ltd
Company Information
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Director |
Mr SH O'Donnell |
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Registered office |
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Accountants |
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Bright Future Design & Consultants Ltd
Director's Report for the Year Ended 31 March 2025
The director presents his report and the financial statements for the year ended 31 March 2025.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is property management service and renting of property
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bright Future Design & Consultants Ltd
for the Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bright Future Design & Consultants Ltd for the year ended 31 March 2025 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Bright Future Design & Consultants Ltd, as a body, in accordance with the terms of our engagement letter dated 27 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of Bright Future Design & Consultants Ltd and state those matters that we have agreed to state to the Board of Directors of Bright Future Design & Consultants Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bright Future Design & Consultants Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bright Future Design & Consultants Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bright Future Design & Consultants Ltd. You consider that Bright Future Design & Consultants Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bright Future Design & Consultants Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Polegate
East Sussex
BN26 5LX
Bright Future Design & Consultants Ltd
Profit and Loss Account for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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( |
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Operating profit |
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Other interest receivable and similar income |
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- |
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Profit before tax |
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Tax on profit |
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- |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Bright Future Design & Consultants Ltd
Statement of Comprehensive Income for the Year Ended 31 March 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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Bright Future Design & Consultants Ltd
(Registration number: 07059506)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Other financial assets |
40,176 |
71,818 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Revaluation reserve |
1,642 |
1,642 |
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Retained earnings |
260,928 |
198,221 |
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Shareholders' funds |
262,670 |
199,963 |
For the financial year ending 31 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:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Bright Future Design & Consultants Ltd
Statement of Changes in Equity for the Year Ended 31 March 2025
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Share capital |
Revaluation reserve |
Retained earnings |
Total |
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At 1 April 2024 |
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Profit for the year |
- |
- |
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At 31 March 2025 |
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Share capital |
Revaluation reserve |
Retained earnings |
Total |
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At 1 April 2023 |
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Profit for the year |
- |
- |
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At 31 March 2024 |
100 |
1,642 |
198,221 |
199,963 |
Bright Future Design & Consultants Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Bright Future Design & Consultants Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Bright Future Design & Consultants Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Bright Future Design & Consultants Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Tangible assets |
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Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Investment properties |
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2025 |
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At 1 April |
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At 31 March |
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There has been no valuation of investment property by an independent valuer.
Bright Future Design & Consultants Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Other financial assets (current and non-current) |
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Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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Additions |
40,176 |
40,176 |
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At 31 March 2025 |
40,176 |
40,176 |
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Impairment |
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Carrying amount |
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At 31 March 2025 |
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40,176 |
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Debtors |
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Current |
Note |
2025 |
2024 |
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Trade debtors |
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( |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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( |
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Other creditors |
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Creditors: amounts falling due after more than one year
Bright Future Design & Consultants Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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