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Company Registration No. 12554092 (England and Wales)
Brilliant Artists Ltd Unaudited accounts for the year ended 31 March 2023
Brilliant Artists Ltd Unaudited accounts Contents
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Brilliant Artists Ltd Company Information for the year ended 31 March 2023
Director
Hannah Shilland
Company Number
12554092 (England and Wales)
Registered Office
20 - 22 Wenlock Road London N1.7GU UK
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Brilliant Artists Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,460 
1,722 
Current assets
Debtors
54,949 
130,211 
Cash at bank and in hand
19,251 
39,738 
74,200 
169,949 
Creditors: amounts falling due within one year
(53,725)
(134,603)
Net current assets
20,475 
35,346 
Total assets less current liabilities
21,935 
37,068 
Provisions for liabilities
Deferred tax
(277)
(327)
Net assets
21,658 
36,741 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
21,657 
36,740 
Shareholders' funds
21,658 
36,741 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 August 2023 and were signed on its behalf by
Hannah Shilland Director Company Registration No. 12554092
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Brilliant Artists Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Brilliant Artists Ltd is a private company, limited by shares, registered in England and Wales, registration number 12554092. The registered office is 20 - 22 Wenlock Road, London, N1.7GU, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The figures in the accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Brilliant Artists Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2022
1,814 
Additions
125 
At 31 March 2023
1,939 
Depreciation
At 1 April 2022
92 
Charge for the year
387 
At 31 March 2023
479 
Net book value
At 31 March 2023
1,460 
At 31 March 2022
1,722 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,186 
22,279 
Trade debtors
51,950 
107,932 
Accrued income and prepayments
813 
- 
54,949 
130,211 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
47,994 
106,707 
Taxes and social security
1,832 
13,403 
Other creditors
600 
- 
Loans from directors
1,286 
12,550 
Accruals
2,013 
1,943 
53,725 
134,603 
7
Transactions with related parties
The balance on the director`s current account with the company at the balance sheet date was £1,286 credit (2022: £12,550 credit), owed by the company to the director. This amount owing is unsecured, interest free and repayable on demand, and was in credit throughout the year.
8
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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