The Bright Side of the Road Limited Filleted accounts for Companies House (small and micro)

The Bright Side of the Road Limited Filleted accounts for Companies House (small and micro)

THE BRIGHT SIDE OF THE ROAD LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02208026
THE BRIGHT SIDE OF THE ROAD LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2021
THE BRIGHT SIDE OF THE ROAD LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
FIXED ASSETS
Tangible assets
4
1,000,000
1,000,000
CURRENT ASSETS
Debtors
5
183,051
163,724
Cash at bank and in hand
70,331
90,839
---------
---------
253,382
254,563
CREDITORS: amounts falling due within one year
6
( 35,130)
( 34,399)
---------
---------
NET CURRENT ASSETS
218,252
220,164
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,218,252
1,220,164
CREDITORS: amounts falling due after more than one year
7
( 340,668)
( 350,000)
PROVISIONS
Other provisions
( 27,500)
( 27,500)
------------
------------
NET ASSETS
850,084
842,664
------------
------------
THE BRIGHT SIDE OF THE ROAD LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
2021
2020
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
849,984
842,564
---------
---------
SHAREHOLDERS FUNDS
850,084
842,664
---------
---------
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 31 December 2021 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 7 December 2022 , and are signed on behalf of the board by:
J. I. Wine
Director
Company registration number: 02208026
THE BRIGHT SIDE OF THE ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 - 22 Bridge End, Leeds, West Yorkshire, LS1 4DJ.
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 represents the amount of rents received recognised during the year.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. TANGIBLE ASSETS
Freehold property
£
Cost
At 1 January 2021 and 31 December 2021
1,000,000
------------
Depreciation
At 1 January 2021 and 31 December 2021
–
------------
Carrying amount
At 31 December 2021
1,000,000
------------
At 31 December 2020
1,000,000
------------
5. DEBTORS
2021
2020
£
£
Trade debtors
151,147
139,647
Other debtors
31,904
24,077
---------
---------
183,051
163,724
---------
---------
6. CREDITORS: amounts falling due within one year
2021
2020
£
£
Corporation tax
14,396
19,372
Other creditors
20,734
15,027
--------
--------
35,130
34,399
--------
--------
7. CREDITORS: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
340,668
350,000
---------
---------