Brighter Graphics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04132496 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

BRIGHTER GRAPHICS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

C Wilcox

SECRETARY:

S J Wilcox

REGISTERED OFFICE:

12 Beckett Way

East Grinstead

West Sussex

RH19 4SF

REGISTERED NUMBER:

04132496 (England and Wales)

ACCOUNTANTS:

Tesciuba Limited

Chartered Accountants and Chartered Tax Advisers

72 Cavendish Road

Salford

M7 4WA

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Brighter Graphics Limited for the year ended 31 December 2020 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Brighter Graphics Limited in accordance with the terms of our engagement letter dated 5 July 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Brighter Graphics Limited and state those matters that we have agreed to state to the director of Brighter Graphics Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brighter Graphics Limited and its director for our work or for this report.

It is your duty to ensure that Brighter Graphics 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 loss of Brighter Graphics Limited. You consider that Brighter Graphics 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 Brighter Graphics 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.

Tesciuba Limited

Chartered Accountants and Chartered Tax Advisers

72 Cavendish Road

Salford

M7 4WA

1 September 2021

FIXED ASSETS

Property, plant and equipment

4

9,525

16,970

CURRENT ASSETS

Debtors

5

59,805

96,566

Cash at bank

98,211

148,203

158,016

244,769

CREDITORS

Amounts falling due within one year

6

(89,972

)

(127,429

)

NET CURRENT ASSETS

68,044

117,340

TOTAL ASSETS LESS CURRENT LIABILITIES

77,569

134,310

CREDITORS

Amounts falling due after more than one year

7

(48,334

)

-

PROVISIONS FOR LIABILITIES

8

(1,810

)

(3,224

)

NET ASSETS

27,425

131,086

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

27,325

130,986

SHAREHOLDERS' FUNDS

27,425

131,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2021 and were signed by:

C Wilcox - Director

1.	STATUTORY INFORMATION

Brighter Graphics 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue 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.

Plant and machinery etc

-

25% on cost

Government grants

Government grants are recognised only when there is reasonable assurance that the entity will comply

with any conditions attached to the grant and the grant will be received.The grants are recognised as

income over the period necessary to match them with the related costs, for which they are intended to

compensate, on a systematic basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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 voluntary defined contribution pension scheme in respect of its staff and the director. Contributions payable to the scheme are charged to the profit and loss account in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

29,783

DEPRECIATION

At 1 January 2020

12,813

Charge for year

7,445

At 31 December 2020

20,258

NET BOOK VALUE

At 31 December 2020

9,525

At 31 December 2019

16,970

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

40,180

80,516

Other debtors

-

535

Corporation tax recoverable

7,335

-

VAT

9,677

4,699

Prepayments and accrued income

2,613

10,816

59,805

96,566

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

1,667

1

Payments on account

1,082

1,957

Trade creditors

84,331

101,509

Corporation tax

-

21,893

Social security and other taxes

1,028

471

Directors' current accounts

610

35

Accrued expenses

1,254

1,563

89,972

127,429

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 2-5 years

48,334

-

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

Accelerated capital allowances

1,810

3,224

Deferred

tax

£

Balance at 1 January 2020

3,224

Credit to Statement of Income and Retained Earnings during year

(1,414

)

Balance at 31 December 2020

1,810