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Company No: 07540332 (England and Wales)

BRIGHTMAN BUSINESS SOLUTIONS LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

BRIGHTMAN BUSINESS SOLUTIONS LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

BRIGHTMAN BUSINESS SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
BRIGHTMAN BUSINESS SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,262 4,192
6,262 4,192
Current assets
Debtors 4 1,124,588 880,901
Cash at bank and in hand 5 859,640 613,458
1,984,228 1,494,359
Creditors: amounts falling due within one year 6 ( 536,880) ( 466,879)
Net current assets 1,447,348 1,027,480
Total assets less current liabilities 1,453,610 1,031,672
Creditors: amounts falling due after more than one year 7 ( 24,664) 0
Net assets 1,428,946 1,031,672
Capital and reserves
Called-up share capital 8 80 80
Profit and loss account 1,428,866 1,031,592
Total shareholders' funds 1,428,946 1,031,672

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Brightman Business Solutions Ltd (registered number: 07540332) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Romy Jane Hughes
Director
Donna Gail Evans
Director

04 September 2024

BRIGHTMAN BUSINESS SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
BRIGHTMAN BUSINESS SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Brightman Business Solutions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 15 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 March 2023 48,810 48,810
Additions 7,889 7,889
At 29 February 2024 56,698 56,698
Accumulated depreciation
At 01 March 2023 44,618 44,618
Charge for the financial year 5,819 5,819
At 29 February 2024 50,436 50,436
Net book value
At 29 February 2024 6,262 6,262
At 28 February 2023 4,192 4,192

4. Debtors

2024 2023
£ £
Trade debtors 894,816 424,411
Accrued income 229,772 456,490
1,124,588 880,901

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 839,195 593,206
Short-term deposits 20,445 20,252
859,640 613,458

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 34,298 2,280
Taxation and social security 398,137 189,858
Other creditors 104,445 274,741
536,880 466,879

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 24,664 0

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
80 Class A ordinary shares of £ 1.00 each 80 80