The-Bright-Side International Brands Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08574762 (England and Wales)

Financial Statements for the Year Ended 30 June 2018

for

The-Bright-Side International Brands Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

C M Jones

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

08574762 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Intangible assets

4

89,891

107,869

Tangible assets

5

2,583

3,444

92,474

111,313

CURRENT ASSETS

Debtors

6

4,075

13,582

Cash at bank

9,771

14,010

13,846

27,592

CREDITORS

Amounts falling due within one year

7

32,023

46,685

NET CURRENT LIABILITIES

(18,177

)

(19,093

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

74,297

92,220

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

9

74,197

92,120

SHAREHOLDERS' FUNDS

74,297

92,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 29 March 2019 and were signed by:

C M Jones - Director

1.	STATUTORY INFORMATION

The-Bright-Side International Brands Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2014, is being amortised

evenly over its estimated useful life (UEL) of ten years (previously twenty). The UEL was reviewed at the end of

the reporting period 30.06.2015. The carrying value of the goodwill is being amortised over the revised

remaining UEL.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

170,320

AMORTISATION

At 1 July 2017

62,451

Charge for year

17,978

At 30 June 2018

80,429

NET BOOK VALUE

At 30 June 2018

89,891

At 30 June 2017

107,869

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

and 30 June 2018

5,397

DEPRECIATION

At 1 July 2017

1,953

Charge for year

861

At 30 June 2018

2,814

NET BOOK VALUE

At 30 June 2018

2,583

At 30 June 2017

3,444

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

Other debtors

4,075

13,582

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

Trade creditors

3,418

12,205

Taxation and social security

26,655

32,530

Other creditors

1,950

32,023

46,685

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

100

Ordinary

1

100

9.

RESERVES

Retained

earnings

£

At 1 July 2017

92,120

Profit for the year

39,477

Dividends

(57,400

)

At 30 June 2018

74,197

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2018 and

30 June 2017:

30.6.18

30.6.17

£

C M Jones

Balance outstanding at start of year

9,945

8,822

Amounts advanced

-

9,945

Amounts repaid

(9,945

)

(8,822

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

9,945

11.	ULTIMATE CONTROLLING PARTY

The controlling party is C M Jones.