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REGISTERED NUMBER: 07535773 (England and Wales)















Financial Statements

for the Year Ended 28 February 2023

for

Brightstar Networks Limited

Brightstar Networks Limited (Registered number: 07535773)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Brightstar Networks Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: B P Gorman
M S Gorman
M Serdet





REGISTERED OFFICE: Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA





REGISTERED NUMBER: 07535773 (England and Wales)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Brightstar Networks Limited (Registered number: 07535773)

Statement of Financial Position
28 February 2023

28/2/23 28/2/22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 11,987 4,832

CURRENT ASSETS
Debtors 6 136,283 105,064
Cash at bank 46,976 87,625
183,259 192,689
CREDITORS
Amounts falling due within one year 7 (66,781 ) (78,590 )
NET CURRENT ASSETS 116,478 114,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,465

118,931

CREDITORS
Amounts falling due after more than one
year

8

(4,859

)

(9,048

)
NET ASSETS 123,606 109,883

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 123,306 109,583
SHAREHOLDERS' FUNDS 123,606 109,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Brightstar Networks Limited (Registered number: 07535773)

Statement of Financial Position - continued
28 February 2023


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 Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





B P Gorman - Director


Brightstar Networks Limited (Registered number: 07535773)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Brightstar Networks 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Brightstar Networks Limited (Registered number: 07535773)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 March 2022 6,961 28,980 4,576 40,517
Additions 3,400 8,250 - 11,650
At 28 February 2023 10,361 37,230 4,576 52,167
Depreciation
At 1 March 2022 3,482 28,980 3,223 35,685
Charge for year 2,591 859 1,045 4,495
At 28 February 2023 6,073 29,839 4,268 40,180
Net book value
At 28 February 2023 4,288 7,391 308 11,987
At 28 February 2022 3,479 - 1,353 4,832

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 129,570 92,985
Other debtors 6,713 12,079
136,283 105,064

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Hire purchase contracts 4,189 3,589
Trade creditors 2,423 11,292
Taxation and social security 46,050 49,826
Other creditors 14,119 13,883
66,781 78,590

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/23 28/2/22
£    £   
Hire purchase contracts 4,859 9,048

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £38,829 (2022 - £29,267).