Registration number: 10506607

Bright FS Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Bright FS Limited

Company Information

Directors

Mr Christian Eckersley Mr Ian Crombleholme Mr Adam Yates Mr William Harrison

Registered office

Yarmouth House Trident Business Park Daten Avenue Birchwood England WA3 6BX

Accountants

Bright Partnership Limited Unit 26 Edward Court Broadheath Altrincham England WA14 5GL

Bright FS Limited

(Registration number: 10506607)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	12,228,212	13,354,858
Tangible assets	5	315,653	408,901
Investments	6	2,657,486	102
		15,201,351	13,763,861
Current assets
Debtors	7	574,624	544,330
Cash at bank and in hand		968,439	387,959
		1,543,063	932,289
Creditors: Amounts falling due within one year	8	(2,163,081)	(3,490,864)
Net current liabilities		(620,018)	(2,558,575)
Total assets less current liabilities		14,581,333	11,205,286
Creditors: Amounts falling due after more than one year	8	(12,352,366)	(9,091,367)
Provisions for liabilities		(78,913)	(102,225)
Net assets		2,150,054	2,011,694
Capital and reserves
Called up share capital	9	153	153
Share premium reserve		2,009,596	2,009,596
Retained earnings		140,305	1,945
Shareholders' funds		2,150,054	2,011,694

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2026 and signed on its behalf by:
 

Bright FS Limited

(Registration number: 10506607)
Statement of Financial Position as at 31 December 2025

......................................... Mr Ian Crombleholme Director

Bright FS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Yarmouth House Trident Business Park
Daten Avenue
Birchwood
WA3 6BX
England

These financial statements were authorised for issue by the Board on 28 May 2026.

2	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.

These financial statements are presented in sterling, which is the functional currency of the entity.

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 and deferred 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 FS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class	Depreciation method and rate
Office equipment	33% RBM
Motor Vehicle	25% RBM

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their estimated useful life of 14 years.

Bright FS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Other Intangible assets

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

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

Other intangible assets recognised are customer list that are purchased externally. Acquisitions are made through share purchases or assets purchases.The acquisition costs are based on the recurring revenue of the customer list that have been purchased.

The estimated useful economic life of both goodwill and other intangibles is fourteen years and amortisation is charged on a straight-line basis.

 

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 FS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2024 - 38).

Bright FS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

Transfer between category	Goodwill  £	Client lists  £	Total £
Cost or valuation
At 1 January 2025	10,600,250	7,060,178	17,660,428
Transfer between category	(9,357,519)	9,357,519	-
Additions acquired separately	-	71,656	71,656
At 31 December 2025	1,242,731	16,489,353	17,732,084
Amortisation
At 1 January 2025	1,522,191	2,783,379	4,305,570
Amortisation charge	69,849	1,128,453	1,198,302
Transfer between category	(838,252)	838,252	-
At 31 December 2025	753,788	4,750,084	5,503,872
Carrying amount
At 31 December 2025	488,943	11,739,269	12,228,212
At 31 December 2024	9,078,059	4,276,799	13,354,858

The Directors have identified client banks acquired under business combinations incorrectley reported withing Goodwill, these balance have been reclassified as at 1 January 2025 between categories

5	Tangible assets

	Office equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	238,561	417,245	655,806
Additions	13,049	-	13,049
At 31 December 2025	251,610	417,245	668,855
Depreciation
At 1 January 2025	214,288	32,617	246,905
Charge for the year	10,140	96,157	106,297
At 31 December 2025	224,428	128,774	353,202
Carrying amount
At 31 December 2025	27,182	288,471	315,653
At 31 December 2024	24,273	384,628	408,901

Bright FS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6	Investments

	2025 £	2024 £
Investments in associates	2,657,486	102