Company registration number 04309022 (England and Wales)
BYGOTT BIGGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
BYGOTT BIGGS LIMITED
COMPANY INFORMATION
Directors
J E Biggs
D Mayfield
R Betts
(Appointed 1 February 2023)
Secretary
J T Biggs
Company number
04309022
Registered office
Vale House
The Engine Yard
Woolsthorpe Road, Belvoir
Grantham
NG32 1PA
Accountants
Taylor Dawson Plumb Limited
22 Regent Street
Nottingham
NG1 5BQ
BYGOTT BIGGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
BYGOTT BIGGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BYGOTT BIGGS LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bygott Biggs Limited for the year ended 28 February 2023 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 board of directors of Bygott Biggs Limited, as a body, in accordance with the terms of our engagement letter dated 29 March 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Bygott Biggs Limited and state those matters that we have agreed to state to the board of directors of Bygott Biggs Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bygott Biggs Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Bygott Biggs 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 profit of Bygott Biggs Limited. You consider that Bygott Biggs Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bygott Biggs 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.
Taylor Dawson Plumb Limited
23 November 2023
Chartered Accountants
22 Regent Street
Nottingham
NG1 5BQ
BYGOTT BIGGS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,210
6,638
Current assets
Debtors
4
57,994
57,545
Cash at bank and in hand
340,274
344,232
398,268
401,777
Creditors: amounts falling due within one year
5
(196,847)
(132,322)
Net current assets
201,421
269,455
Total assets less current liabilities
204,631
276,093
Provisions for liabilities
(723)
(1,188)
Net assets
203,908
274,905
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
203,808
274,805
Total equity
203,908
274,905
The notes on pages 4 to 6 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BYGOTT BIGGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 23 November 2023 and are signed on its behalf by:
J E Biggs
Director
Company registration number 04309022 (England and Wales)
BYGOTT BIGGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
1
Accounting policies
Company information
Bygott Biggs Limited is a private company limited by shares incorporated in England and Wales. The registered office is Vale House, The Engine Yard, Woolsthorpe Road, Belvoir, Grantham, NG32 1PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue is measured at the fair value of the consideration received or receivable from the provision of services which fall within the company's activities and is shown after discounts and net of VAT. Revenue is recognised upon delivery of the service and in accordance with agreed contracts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line
Office equipment
33.33% straight line
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.
1.4
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 current liabilities.
1.5
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
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 balance sheet date.
BYGOTT BIGGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.7
Leases
Rentals under operating leases are charged on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
7
7
3
Tangible fixed assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
50,088
57,800
107,888
Depreciation and impairment
At 1 March 2022
46,215
55,035
101,250
Depreciation charged in the year
1,526
1,902
3,428
At 28 February 2023
47,741
56,937
104,678
Carrying amount
At 28 February 2023
2,347
863
3,210
At 28 February 2022
3,873
2,765
6,638
BYGOTT BIGGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
45,792
47,865
Other debtors
12,202
9,680
57,994
57,545
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
84,844
113,160
Other creditors
112,003
19,162
196,847
132,322
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
85
85
85
85
Ordinary B of £1 each
10
10
10
10
Ordinary C of £1 each
5
5
5
5
100
100
100
100
7
Financial commitments, guarantees and contingent liabilities
Total financial commitments, guarantees and contingencies not included in the Balance Sheet amounted to £11,000 at 28 February 2023 (2022 : £11,000). This is entirely with respect to a property lease commitment for the period from the year end to the next break clause.