Company Registration No. 12554092 (England and Wales)
Brilliant Artists Ltd
Unaudited accounts
for the year ended 31 March 2024
Brilliant Artists Ltd
Unaudited accounts
Contents
Brilliant Artists Ltd
Company Information
for the year ended 31 March 2024
Company Number
12554092 (England and Wales)
Registered Office
20 - 22 Wenlock Road
London
N1.7GU
UK
Brilliant Artists Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
1,073
1,460
Cash at bank and in hand
21,564
19,251
Creditors: amounts falling due within one year
(43,607)
(53,725)
Net current assets
3,192
20,475
Total assets less current liabilities
4,265
21,935
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
4,060
21,657
Shareholders' funds
4,061
21,658
For the year ending 31 March 2024 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 24 August 2024 and were signed on its behalf by
Hannah Shilland
Director
Company Registration No. 12554092
Brilliant Artists Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention.
The figures in the accounts are presented in £ sterling.
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 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.
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.
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.
Brilliant Artists Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
24,678
51,950
Accrued income and prepayments
-
813
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
24,438
47,994
Taxes and social security
3,996
1,832
Loans from directors
11,740
1,286
7
Transactions with related parties
The balance on the director`s current account with the company at the balance sheet date was £11,740 credit (2023: £1,286 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 (2023: 2).