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Registration number: 07516130

Big Man Ventures Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Big Man Ventures Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Big Man Ventures Ltd

Company Information

Director

Mr S Van Der Straaten

Registered office

40 Church Road
London
SE19 2ET

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

Big Man Ventures Ltd

(Registration number: 07516130)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

8,919

11,464

Current assets

 

Debtors

4

23,840

29,518

Cash at bank and in hand

 

5,650

436

 

29,490

29,954

Creditors: Amounts falling due within one year

5

(16,138)

(13,571)

Net current assets

 

13,352

16,383

Total assets less current liabilities

 

22,271

27,847

Creditors: Amounts falling due after more than one year

5

(20,272)

(24,992)

Provisions for liabilities

(1,694)

(2,178)

Net assets

 

305

677

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

303

675

Shareholders' funds

 

305

677

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 November 2023
 

.........................................
Mr S Van Der Straaten
Director

 

Big Man Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

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.

 

Big Man Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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

Fixtures, fittings & equipment

33% on cost and 25% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Big Man Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

14,948

8,500

23,448

Additions

430

-

430

At 28 February 2023

15,378

8,500

23,878

Depreciation

At 1 March 2022

11,630

354

11,984

Charge for the year

938

2,037

2,975

At 28 February 2023

12,568

2,391

14,959

Carrying amount

At 28 February 2023

2,810

6,109

8,919

At 28 February 2022

3,318

8,146

11,464

4

Debtors

2023
£

2022
£

Other debtors

19,719

25,224

Prepayments

4,121

4,294

23,840

29,518

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

4,244

-

Trade creditors

 

510

1,044

Taxation and social security

 

1,366

1,394

Accruals and deferred income

 

1,460

900

Other creditors

 

8,558

10,233

 

16,138

13,571

 

Big Man Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

20,272

24,992

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

7

Related party transactions

Key management personnel

Transactions with the director

2023

At 1 March 2022
£

Repayments by director
£

At 28 February 2023
£

Mr S Van Der Straaten

Interest is charged on the loan there is no fixed date of repayment.

(19,132)

6,007

(13,126)

       
     

 

2022

At 1 March 2021
£

Repayments by director
£

At 28 February 2022
£

Mr S Van Der Straaten

Interest is charged on the loan there is no fixed date of repayment.

(19,859)

727

(19,132)