Brightman LED Limited 08493124 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is wholesale of lighting equipment Digita Accounts Production Advanced 6.30.9574.0 true 08493124 2022-09-01 2023-08-31 08493124 2023-08-31 08493124 bus:OrdinaryShareClass1 2023-08-31 08493124 core:CurrentFinancialInstruments 2023-08-31 08493124 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 08493124 core:FurnitureFittingsToolsEquipment 2023-08-31 08493124 bus:SmallEntities 2022-09-01 2023-08-31 08493124 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 08493124 bus:FilletedAccounts 2022-09-01 2023-08-31 08493124 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 08493124 bus:RegisteredOffice 2022-09-01 2023-08-31 08493124 bus:Director2 2022-09-01 2023-08-31 08493124 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 08493124 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08493124 core:FurnitureFittings 2022-09-01 2023-08-31 08493124 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 08493124 core:OfficeEquipment 2022-09-01 2023-08-31 08493124 countries:England 2022-09-01 2023-08-31 08493124 2022-08-31 08493124 core:FurnitureFittingsToolsEquipment 2022-08-31 08493124 2021-09-01 2022-08-31 08493124 2022-08-31 08493124 bus:OrdinaryShareClass1 2022-08-31 08493124 core:CurrentFinancialInstruments 2022-08-31 08493124 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 08493124 core:FurnitureFittingsToolsEquipment 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08493124

Brightman LED Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Brightman LED Limited

(Registration number: 08493124)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,070

2,111

Current assets

 

Stocks

5

77,303

55,440

Debtors

6

2,999

1,513

Cash at bank and in hand

 

74,944

61,253

 

155,246

118,206

Creditors: Amounts falling due within one year

7

(41,777)

(17,671)

Net current assets

 

113,469

100,535

Total assets less current liabilities

 

115,539

102,646

Provisions for liabilities

(394)

(401)

Net assets

 

115,145

102,245

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

115,144

102,244

Shareholders' funds

 

115,145

102,245

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 April 2024 and signed on its behalf by:
 

.........................................
Ms Sonia Hudson
Director

 

Brightman LED Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1, Ranch House
Bottesford Business Park
Normanton Lane
Bottesford
Lincolnshire
NG13 0EL

These financial statements were authorised for issue by the Board on 24 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Brightman LED Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

20% reducing balance

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Brightman LED Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

6,991

6,991

Additions

477

477

At 31 August 2023

7,468

7,468

Depreciation

At 1 September 2022

4,880

4,880

Charge for the year

518

518

At 31 August 2023

5,398

5,398

Carrying amount

At 31 August 2023

2,070

2,070

At 31 August 2022

2,111

2,111

5

Stocks

2023
£

2022
£

Other inventories

77,303

55,440

6

debtors

Current

2023
£

2022
£

Trade debtors

2,999

1,513

 

2,999

1,513

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

13,935

7,015

Taxation and social security

22,148

8,885

Accruals and deferred income

567

560

Other creditors

5,127

1,211

41,777

17,671

 

Brightman LED Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £0.50 each

2

1

2

1