IRIS Accounts Production v24.2.0.383 07166018 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071660182023-02-28071660182024-02-29071660182023-03-012024-02-29071660182022-02-28071660182022-03-012023-02-28071660182023-02-2807166018ns15:EnglandWales2023-03-012024-02-2907166018ns14:PoundSterling2023-03-012024-02-2907166018ns10:Director12023-03-012024-02-2907166018ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2907166018ns10:SmallEntities2023-03-012024-02-2907166018ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2907166018ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2907166018ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2907166018ns10:AbridgedAccounts2023-03-012024-02-2907166018ns10:Director22023-03-012024-02-2907166018ns10:CompanySecretary12023-03-012024-02-2907166018ns10:RegisteredOffice2023-03-012024-02-2907166018ns5:CurrentFinancialInstruments2024-02-2907166018ns5:CurrentFinancialInstruments2023-02-2807166018ns5:Non-currentFinancialInstruments2024-02-2907166018ns5:Non-currentFinancialInstruments2023-02-2807166018ns5:ShareCapital2024-02-2907166018ns5:ShareCapital2023-02-2807166018ns5:RetainedEarningsAccumulatedLosses2024-02-2907166018ns5:RetainedEarningsAccumulatedLosses2023-02-2807166018ns5:FurnitureFittings2023-03-012024-02-2907166018ns5:ComputerEquipment2023-03-012024-02-2907166018ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2907166018ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2807166018ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-02-2907166018ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2807166018ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-2907166018ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-28
REGISTERED NUMBER: 07166018 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Brilliant Distribution Limited

Brilliant Distribution Limited (Registered number: 07166018)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Brilliant Distribution Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr H S Gillespie
Mrs Y B Gillespie





SECRETARY: Mrs Y B Gillespie





REGISTERED OFFICE: 4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF





REGISTERED NUMBER: 07166018 (England and Wales)





ACCOUNTANTS: Ward Goodman Accountancy Services Ltd.
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Brilliant Distribution Limited (Registered number: 07166018)

Abridged Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,410 7,037

CURRENT ASSETS
Stocks 107,301 113,286
Debtors 77,474 62,692
Prepayments and accrued income 1,337 1,138
Cash at bank and in hand 108,903 156,841
295,015 333,957
CREDITORS
Amounts falling due within one year 154,214 177,698
NET CURRENT ASSETS 140,801 156,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,211

163,296

CREDITORS
Amounts falling due after more than one year 5 (30,010 ) (35,606 )

PROVISIONS FOR LIABILITIES (773 ) (1,653 )

ACCRUALS AND DEFERRED INCOME (13,944 ) (15,690 )
NET ASSETS 99,484 110,347

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 99,364 110,227
SHAREHOLDERS' FUNDS 99,484 110,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Brilliant Distribution Limited (Registered number: 07166018)

Abridged Statement of Financial Position - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Mr H S Gillespie - Director


Brilliant Distribution Limited (Registered number: 07166018)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Brilliant Distribution 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Grant income is recognised in the profit and loss account for the initial twelve month interest free period of the Bounce Back Loan with an equal and corresponding finance charge recognised in expenses in the profit and loss account.

A similar treatment will apply for any further interest free periods taken up by the company during the
term of the loan. The annual rate of interest on the Bounce Back Loan is calculated according to the chancellor's pledge to fix this at 2.5%. The loan will be subsequently recorded at amortised cost using the annual rate of interest of 2.5%. This has been adopted on the basis the loan is considered a commercial business loan and therefore 2.5% annual interest is effectively the market rate of interest.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Brilliant Distribution Limited (Registered number: 07166018)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

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.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

Brilliant Distribution Limited (Registered number: 07166018)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 19,272
Additions 330
At 29 February 2024 19,602
DEPRECIATION
At 1 March 2023 12,235
Charge for year 3,957
At 29 February 2024 16,192
NET BOOK VALUE
At 29 February 2024 3,410
At 28 February 2023 7,037

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 7,819 13,337

6. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,596 5,595

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,577 5,596

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,614 16,673

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,819 13,337

Brilliant Distribution Limited (Registered number: 07166018)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had rental commitments totalling £35,475 (2023 - £9,675).

The company also had bounce back loan commitments at the financial year end totalling £35,605 (2023 - £41,201) and credit card commitments of £Nil (2023 - £975).

There were no other financial commitments, contingencies or guarantees made on behalf of the director.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There were no advances to the director during the financial year.

9. RELATED PARTY DISCLOSURES

At the financial year end, the company owed £60,401 (2023 - £69,201) in loans to "Oasis Musical Instruments Limited", a company in which H S Gillespie is also a director and holds a beneficial interest. These are included within creditors. The loans are unsecured, interest free and repayable on demand.

The company was also owed £39,479 (2023 - £44,588) from "Oasis Musical Instruments Limited" at the financial year end in commercial trade transactions. These are included within debtors.