Britesparkes Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10045215 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Britesparkes Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J A Sparkes

A M Sparkes

REGISTERED OFFICE:

Electra House

1a Gilberd Road

Colchester

Essex

CO2 7LR

REGISTERED NUMBER:

10045215 (England and Wales)

ACCOUNTANTS:

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Britesparkes Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Britesparkes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Britesparkes Limited and state those matters that we have agreed to state to the Board of Directors of Britesparkes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Britesparkes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Britesparkes Limited. You consider that Britesparkes Limited 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 financial statements of Britesparkes Limited. 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 financial statements.

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

31 December 2023

FIXED ASSETS

Tangible assets

4

900

1,281

CURRENT ASSETS

Stocks

550

906

Debtors

5

25,382

23,923

Cash at bank

35,158

18,462

61,090

43,291

CREDITORS

Amounts falling due within one year

6

36,535

23,015

NET CURRENT ASSETS

24,555

20,276

TOTAL ASSETS LESS CURRENT LIABILITIES

25,455

21,557

CREDITORS

Amounts falling due after more than one year

7

(18,696

)

(21,076

)

PROVISIONS FOR LIABILITIES

(171

)

(243

)

NET ASSETS

6,588

238

CAPITAL AND RESERVES

Called up share capital

8

95

95

Retained earnings

6,493

143

SHAREHOLDERS' FUNDS

6,588

238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2023 and were signed on its behalf by:

J A Sparkes - Director

1.	STATUTORY INFORMATION

Britesparkes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

3,838

Additions

464

At 31 March 2023

4,302

DEPRECIATION

At 1 April 2022

2,557

Charge for year

845

At 31 March 2023

3,402

NET BOOK VALUE

At 31 March 2023

900

At 31 March 2022

1,281

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

9,661

12,661

Other debtors

15,721

11,262

25,382

23,923

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

3,032

3,636

Trade creditors

360

360

Taxation and social security

30,389

17,940

Other creditors

2,754

1,079

36,535

23,015

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

18,696

21,076

31.3.23

31.3.22

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

6,569

6,532

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

80

Ordinary A

£1

80

80

5

Ordinary B

£1

5

5

10

Ordinary C

£1

10

10

95

95

The "A" Shares will have full rights in the company with regard to voting, dividend and capital distribution. A dividend may be paid in respect of this class of share to the exclusion of any other class of share currently in issue. Where a dividend is declared in respect of all classes of share the company may, by ordinary resolution, differentiate between this and any or all other classes as to the amount or percentage of dividend payable but by default the shares in this class shall be deemed to rank pari passu with any other share class currently in issue, unless the rights attached to such other class specify otherwise.

The "B" Shares will have full rights in the company with regard to voting, dividend and capital distribution. A dividend may be paid in respect of this class of share to the exclusion of any other class of share currently in issue. Where a dividend is declared in respect of all classes of share the company may, by ordinary resolution, differentiate between this and any or all other classes as to the amount or percentage of dividend payable but by default the shares in this class shall be deemed to rank pari passu with any other share class currently in issue, unless the rights attached to such other class specify otherwise.

The "C" Shares will have full rights in the company with regard to voting, dividend and capital distribution. A dividend may be paid in respect of this class of share to the exclusion of any other class of share currently in issue. Where a dividend is declared in respect of all classes of share the company may, by ordinary resolution, differentiate between this and any or all other classes as to the amount or percentage of dividend payable but by default the shares in this class shall be deemed to rank pari passu with any other share class currently in issue, unless the rights attached to such other class specify otherwise.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

J A Sparkes

Balance outstanding at start of year

3,999

-

Amounts advanced

1,918

3,999

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,917

3,999

A M Sparkes

Balance outstanding at start of year

3,999

-

Amounts advanced

1,918

3,999

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,917

3,999

The loans to the directors are interest-free and repayable on demand.