Bright Innovation Group Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12452734 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

BRIGHT INNOVATION GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J S Dubb

I Dubb

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Bimingham

West Midlands

B21 0LT

REGISTERED NUMBER:

12452734 (England and Wales)

FIXED ASSETS

Investments

4

3,000

-

CURRENT ASSETS

Debtors

5

188,367

42,847

Cash in hand

1,000

1,000

189,367

43,847

CREDITORS

Amounts falling due within one year

6

191,367

42,847

NET CURRENT (LIABILITIES)/ASSETS

(2,000

)

1,000

TOTAL ASSETS LESS CURRENT LIABILITIES

1,000

1,000

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

SHAREHOLDERS' FUNDS

1,000

1,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 28 February 2023 and were signed on its behalf by:

J S Dubb - Director

1.	STATUTORY INFORMATION

Bright Innovation Group 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

Additions

3,000

At 28 February 2022

3,000

NET BOOK VALUE

At 28 February 2022

3,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Under The Hammer Auctions Limited

Registered office:

Nature of business: Real estate agencies and property auctions

%

Class of shares:

holding

ordinary

100.00

28/2/22

28/2/21

£

£

Aggregate capital and reserves

1,000

1,000

Secure Now Technologies Limited

Registered office:

Nature of business: Technology services

%

Class of shares:

holding

ordinary

100.00

28/2/22

28/2/21

£

£

Aggregate capital and reserves

1,000

1,000

A Licence Limited

Registered office:

Nature of business: Information technology service and real estate

%

Class of shares:

holding

Ordinary

100.00

28/2/22

£

Aggregate capital and reserves

1,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/22

28/2/21

£

£

Under The Hammer Auctions Ltd

188,367

42,847

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/22

28/2/21

£

£

Trade creditors

808

-

Other creditors

3,000

-

8 Property Investments Ltd

93,617

21,267

Green Park Property Investment

93,616

21,267

Directors' current accounts

26

13

Accrued expenses

300

300

191,367

42,847

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/22

28/2/21

value:

£

£

1,000

Ordinary

£1

1,000

1,000

8.

RESERVES

Retained

earnings

£

Profit for the year

144,699

Dividends

(144,699

)

At 28 February 2022

-