ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED - Company Information

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Caseware UK (AP4) 2021.0.152 2021.0.152 2021-09-302022-05-302021-09-302022-05-30false2020-10-01Other letting and operating of own or leased real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04067082 2020-10-01 2021-09-30 04067082 2019-10-01 2020-09-30 04067082 2021-09-30 04067082 2020-09-30 04067082 c:Director1 2020-10-01 2021-09-30 04067082 d:OfficeEquipment 2020-10-01 2021-09-30 04067082 d:OfficeEquipment 2021-09-30 04067082 d:OfficeEquipment 2020-09-30 04067082 d:CurrentFinancialInstruments 2021-09-30 04067082 d:CurrentFinancialInstruments 2020-09-30 04067082 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 04067082 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 04067082 d:ShareCapital 2021-09-30 04067082 d:ShareCapital 2020-09-30 04067082 d:RetainedEarningsAccumulatedLosses 2021-09-30 04067082 d:RetainedEarningsAccumulatedLosses 2020-09-30 04067082 c:FRS102 2020-10-01 2021-09-30 04067082 c:AuditExemptWithAccountantsReport 2020-10-01 2021-09-30 04067082 c:FullAccounts 2020-10-01 2021-09-30 04067082 c:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 04067082 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2020-10-01 2021-09-30 04067082 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-09-30 04067082 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2020-09-30 04067082 2 2020-10-01 2021-09-30 iso4217:GBP xbrli:pure

Registered number: 04067082









BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2021
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 7

 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brightstar (Property Investments) Limited for the year ended 30 September 2021 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Brightstar (Property Investments) Limited in accordance with the terms of our engagement letter dated 27 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Brightstar (Property Investments) Limited  and state those matters that we have agreed to state to the director of Brightstar (Property Investments) Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brightstar (Property Investments) Limited and its director for our work or for this report. 

It is your duty to ensure that Brightstar (Property Investments) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Brightstar (Property Investments) Limited. You consider that Brightstar (Property Investments) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Brightstar (Property Investments) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
30 May 2022
Page 1
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
REGISTERED NUMBER: 04067082

BALANCE SHEET
AS AT 30 SEPTEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
789
4,573

Cash at bank and in hand
  
995,320
1,198,791

  
996,109
1,203,364

Creditors: amounts falling due within one year
 6 
(3,536)
(3,667)

Net current assets
  
 
 
992,573
 
 
1,199,697

Total assets less current liabilities
  
992,573
1,199,697

  

Net assets
  
992,573
1,199,697


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
992,473
1,199,597

  
992,573
1,199,697


Page 2
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
REGISTERED NUMBER: 04067082
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 May 2022.


................................................
W H Edwards
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.


General information

Brightstar (Property Investments) Limited is a United Kingdom company limited by shares. It is incorporated and domiciled in England and Wales. The registered office address is 7 The Close, Norwich, NR1 4DJ.
 The Company's principal activity is property letting in England.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office Equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 5
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

4.


Tangible fixed assets





Office Equipment

£



Cost or valuation


At 1 October 2020
2,901



At 30 September 2021

2,901



Depreciation


At 1 October 2020
2,901



At 30 September 2021

2,901



Net book value



At 30 September 2021
-



At 30 September 2020
-


5.


Debtors

2021
2020
£
£


Other debtors
-
362

Prepayments and accrued income
230
4,211

Tax recoverable
559
-

789
4,573



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other taxation and social security
-
665

Other creditors
2
2

Accruals and deferred income
3,534
3,000

3,536
3,667


Page 6
 
BRIGHTSTAR (PROPERTY INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

7.


Related party transactions

As at 30 September 2021 the balance owed to the director was £2 (2020: £ 2). 

 
Page 7