Bright-More Promotions Ltd Company Accounts

BRIGHT-MORE PROMOTIONS LTD. - Company Information

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COMPANY REGISTRATION NUMBER: 07965221

Bright-More Promotions Ltd

Filleted Unaudited Financial Statements

28 February 2019

Bright-More Promotions Ltd

Financial Statements

Year ended 28 February 2019

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Bright-More Promotions Ltd

Statement of Financial Position

28 February 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4		219	292

Current assets

Cash at bank and in hand	635		4,382

Creditors: amounts falling due within one year	5	15,644		17,230
		--------		--------
Net current liabilities			15,009	12,848
			--------	--------
Total assets less current liabilities			( 14,790)	( 12,556)
			--------	--------
Net liabilities			( 14,790)	( 12,556)
			--------	--------

Capital and reserves

Called up share capital	202	202
Profit and loss account	( 14,992)	( 12,758)
	--------	--------
Shareholders deficit	( 14,790)	( 12,556)
	--------	--------

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 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 28 February 2019 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 .

These financial statements were approved by the board of directors and authorised for issue on 27 November 2019 , and are signed on behalf of the board by:

Mr S J Goulding
Director

Company registration number: 07965221

Bright-More Promotions Ltd

Notes to the Financial Statements

Year ended 28 February 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Newfield House Middleton Road, Middleton Village, Morecambe, Lancashire, LA3 3PP.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 March 2018 and 28 February 2019	518	518
	----	----
Depreciation
At 1 March 2018	226	226
Charge for the year	73	73
	----	----
At 28 February 2019	299	299
	----	----
Carrying amount
At 28 February 2019	219	219
	----	----
At 28 February 2018	292	292
	----	----

5. Creditors: amounts falling due within one year

	2019	2018
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,408	–
Other creditors	12,236	17,230
	--------	--------
	15,644	17,230
	--------	--------

6. Director's advances, credits and guarantees

The amount due to directors at the 28th February 2019 was £11,586 (2018 - £16,905).

7. Related party transactions

The company was under the control of Mr S J Goulding throughout the current year.