BRIGHTWATER ENVIRONMENTAL LTD Filleted accounts for Companies House (small and micro)

BRIGHTWATER ENVIRONMENTAL LTD. - Company Information

8 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05837881 2022-04-01 2023-03-31 05837881 2023-03-31 05837881 2022-03-31 05837881 2021-04-01 2022-03-31 05837881 2022-03-31 05837881 2021-03-31 05837881 core:PlantMachinery 2022-04-01 2023-03-31 05837881 core:FurnitureFittings 2022-04-01 2023-03-31 05837881 core:MotorVehicles 2022-04-01 2023-03-31 05837881 bus:RegisteredOffice 2022-04-01 2023-03-31 05837881 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 05837881 bus:Director1 2022-04-01 2023-03-31 05837881 bus:Director2 2022-04-01 2023-03-31 05837881 bus:Director3 2022-04-01 2023-03-31 05837881 bus:CompanySecretary1 2022-04-01 2023-03-31 05837881 core:WithinOneYear 2023-03-31 05837881 core:WithinOneYear 2022-03-31 05837881 core:AfterOneYear 2023-03-31 05837881 core:ShareCapital 2023-03-31 05837881 core:ShareCapital 2022-03-31 05837881 core:RetainedEarningsAccumulatedLosses 2023-03-31 05837881 core:RetainedEarningsAccumulatedLosses 2022-03-31 05837881 bus:Director1 2022-03-31 05837881 bus:Director1 2023-03-31 05837881 bus:Director3 2022-03-31 05837881 bus:Director3 2023-03-31 05837881 bus:Director1 2021-03-31 05837881 bus:Director1 2022-03-31 05837881 bus:Director3 2021-03-31 05837881 bus:Director3 2022-03-31 05837881 bus:Director1 2021-04-01 2022-03-31 05837881 bus:Director3 2021-04-01 2022-03-31 05837881 bus:SmallEntities 2022-04-01 2023-03-31 05837881 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05837881 bus:AbridgedAccounts 2022-04-01 2023-03-31 05837881 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05837881 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05837881 core:OfficeEquipment 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 05837881

BRIGHTWATER ENVIRONMENTAL LTD

Filleted Unaudited Abridged Financial Statements

31 March 2023

BRIGHTWATER ENVIRONMENTAL LTD

Abridged Financial Statements

Year ended 31 March 2023

Contents	Page

Officers and professional advisers	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

BRIGHTWATER ENVIRONMENTAL LTD

Officers and Professional Advisers

The board of directors	Mr A R Flight
	Mrs A Maddison
	Mr G Maddison

Company secretary	Mrs N Baverstock

Registered office	Grove Barn Middle Road
	Denton
	Harleston
	Norfolk
	England
	IP20 OHA

Accountants	R. E. Jones & Co.
	Chartered accountants
	132 Burnt Ash Road
	Lee
	London
	SE12 8PU

Bankers	Lloyds TSB
	High Street
	Ashford
	Kent

BRIGHTWATER ENVIRONMENTAL LTD

Abridged Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		26,142	2,945

Current assets

Stocks	70,925	40,895
Debtors	220,303	281,429
Cash at bank and in hand	1	50,540
	----------	----------
	291,229	372,864

Creditors: amounts falling due within one year	150,466		237,640
	----------		----------
Net current assets		140,763	135,224
		----------	----------
Total assets less current liabilities		166,905	138,169

Creditors: amounts falling due after more than one year	14,257	–
	----------	----------
Net assets	152,648	138,169
	----------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	152,548	138,069
	----------	----------
Shareholders funds	152,648	138,169
	----------	----------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

BRIGHTWATER ENVIRONMENTAL LTD

Abridged Statement of Financial Position (continued)

31 March 2023

These abridged financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:

Mr A R Flight	Mrs A Maddison
Director	Director

Mr G Maddison
Director

Company registration number: 05837881

BRIGHTWATER ENVIRONMENTAL LTD

Notes to the Abridged Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Grove Barn Middle Road, Denton, Harleston, Norfolk, IP20 OHA, England.

2. Statement of compliance

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

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.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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
Fixtures and Fittings	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2022: 7 ).

5. Tangible assets

	£
Cost
At 1 April 2022	13,328
Additions	31,911
	---------
At 31 March 2023	45,239
	---------
Depreciation
At 1 April 2022	10,383
Charge for the year	8,714
	---------
At 31 March 2023	19,097
	---------
Carrying amount
At 31 March 2023	26,142
	---------
At 31 March 2022	2,945
	---------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr A R Flight	( 14,420)	( 152)	( 14,572)
Mr G Maddison	( 13,396)	10,893	( 2,503)
	---------	---------	---------
	( 27,816)	10,741	( 17,075)
	---------	---------	---------

	2022
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr A R Flight	( 8,642)	( 5,777)	(14,419)
Mr G Maddison	( 7,896)	( 5,501)	(13,397)
	---------	---------	---------
	( 16,538)	( 11,278)	( 27,816)
	---------	---------	---------

7. Related party transactions

The company is associated to Brightwater Technology Limited as they are under the control of the same person. Included in debtors is an amount owed by them totalling £125,520 (2022 £110,157). There were purchases made from the associated party in the year amounting to £23,772. Unpaid expenses due to the directors at the year end total £17,075 (202: £27,816).