2012 Brighton Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06650388 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

2012 Brighton Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Hobden

SECRETARY:

J Hobden

REGISTERED OFFICE:

First Floor South

Haversham House

18-22 Boundary Road

Hove

East Sussex

BN3 4EF

REGISTERED NUMBER:

06650388 (England and Wales)

ACCOUNTANTS:

APT

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

FIXED ASSETS

Investments

4

-

11,067

CURRENT ASSETS

Debtors

5

2,700,925

1,921,663

Cash at bank

150,655

84,196

2,851,580

2,005,859

CREDITORS

Amounts falling due within one year

6

(2,851,480

)

(2,016,825

)

NET CURRENT ASSETS/(LIABILITIES)

100

(10,966

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

101

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

-

1

SHAREHOLDERS' FUNDS

100

101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 10 July 2017 and were signed by:

J Hobden - Director

1.	STATUTORY INFORMATION

2012 Brighton 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Current liabilities exceed current assets, however, the financial statements have been prepared on a going concern basis as they

assume the continued support of the director and shareholder.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of

the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Invoice discounting

The company has entered into an invoice discounting arrangement. The gross amount of invoiced debtors are included within

current assets, and the liabilities include an amount in respect of proceeds received from the finance provider. The interest

element of the finance provider's charges is recognised as it accrues and included in the profit and loss account with other interest

charges.

Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including

expectations of future events that are believed to be reasonable under the circumstances.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction

price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement

constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at

a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.12.16

31.12.15

£

£

Brought forward

11,067

574,056

Net movement

(11,067

)

(562,989

)

-

11,067

Investments (neither listed nor unlisted) represents the company's capital account balance in The Shore Grp Staffing LLP.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

2,700,925

1,791,721

Amounts owed by group undertakings

-

129,942

2,700,925

1,921,663

Trade debtors are covered under an invoice discount facility.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

149,827

-

Amounts owed to group undertakings

49,283

-

Taxation and social security

84,676

311,784

Other creditors

2,567,694

1,705,041

2,851,480

2,016,825

Included other creditors are advances under discounting which were made under the invoice discounting facility and are secured

on the trade debtors of the company.

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Advances under discounting

2,567,094

1,705,041

All money and liabilities due to HSBC Invoice Finance (UK) Ltd are secured by way of a fixed and floating charge dated 8 July

2016 over all the assets of the company.

8.	OTHER FINANCIAL COMMITMENTS

At 31 December 2016, the company had total commitments under non-cancellable operating leases over the remaining life of

those leases of £20,103 (2015: £26,162).

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

11.

CURRENCY

The company's presentational and functional currency is Pounds Sterling.