Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false122022-06-01No description of principal activitytrue 11343018 2022-06-01 2023-05-31 11343018 2021-06-01 2022-05-31 11343018 2023-05-31 11343018 2022-05-31 11343018 c:Director1 2022-06-01 2023-05-31 11343018 c:RegisteredOffice 2022-06-01 2023-05-31 11343018 d:ComputerEquipment 2022-06-01 2023-05-31 11343018 d:ComputerEquipment 2023-05-31 11343018 d:ComputerEquipment 2022-05-31 11343018 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 11343018 d:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 11343018 d:OtherPropertyPlantEquipment 2023-05-31 11343018 d:OtherPropertyPlantEquipment 2022-05-31 11343018 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 11343018 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 11343018 d:CurrentFinancialInstruments 2023-05-31 11343018 d:CurrentFinancialInstruments 2022-05-31 11343018 d:Non-currentFinancialInstruments 2023-05-31 11343018 d:Non-currentFinancialInstruments 2022-05-31 11343018 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11343018 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 11343018 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 11343018 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 11343018 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 11343018 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 11343018 d:ShareCapital 2023-05-31 11343018 d:ShareCapital 2022-05-31 11343018 d:RetainedEarningsAccumulatedLosses 2023-05-31 11343018 d:RetainedEarningsAccumulatedLosses 2022-05-31 11343018 c:FRS102 2022-06-01 2023-05-31 11343018 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 11343018 c:FullAccounts 2022-06-01 2023-05-31 11343018 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11343018 6 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 11343018









BIG JOINTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
BIG JOINTS LTD
 
 
COMPANY INFORMATION


Director
Zuhair Hassan 




Registered number
11343018



Registered office
16 - 19 Eastcastle Street
London

W1W 8DY




Accountants
Thomas St John Limited

16 - 19 Eastcastle Street

London

W1W 8DY





 
BIG JOINTS LTD
 

CONTENTS



Page
Profit and Loss Account
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 10


 
BIG JOINTS LTD
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2023

2023
2022
Note
£
£

  

Turnover
  
1,219,787
773,936

Cost of sales
  
(275,659)
(237,289)

Gross profit
  
944,128
536,647

Administrative expenses
  
(353,872)
(120,583)

Operating profit
  
590,256
416,064

Interest receivable and similar income
  
320
19

Interest payable and similar expenses
  
(921)
(614)

Profit before tax
  
589,655
415,469

Tax on profit
  
(118,978)
(78,968)

Profit for the financial year
  
470,677
336,501

The notes on pages 4 to 10 form part of these financial statements.

Page 1

 
BIG JOINTS LTD
REGISTERED NUMBER: 11343018

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,558
700

Investments
 5 
101,900
43,000

  
107,458
43,700

Current assets
  

Debtors: amounts falling due within one year
 6 
412,339
69,052

Cash at bank and in hand
 7 
400,431
280,891

  
812,770
349,943

Creditors: amounts falling due within one year
 8 
(249,567)
(183,687)

Net current assets
  
 
 
563,203
 
 
166,256

Total assets less current liabilities
  
670,661
209,956

Creditors: amounts falling due after more than one year
 9 
(21,593)
(31,566)

  

Net assets
  
649,068
178,390


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
649,067
178,389

  
649,068
178,390


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 financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 February 2024.


Page 2

 
BIG JOINTS LTD
REGISTERED NUMBER: 11343018
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023



Zuhair Hassan
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Big Joints Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 11343018. The address of the registered office is 16-19 Eastcastle Street, London, W1W 8DY.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

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.

 
2.6

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:

Computer equipment
-
15%
Straight-line
Other fixed assets
-
15%
Straight-line

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.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 2 (2022 - 1).

Page 6

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Computer equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 June 2022
-
1,000
1,000


Additions
5,591
-
5,591



At 31 May 2023

5,591
1,000
6,591



Depreciation


At 1 June 2022
-
300
300


Charge for the year on owned assets
583
150
733



At 31 May 2023

583
450
1,033



Net book value



At 31 May 2023
5,008
550
5,558



At 31 May 2022
-
700
700


5.


Fixed asset investments





Unlisted investments
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 June 2022
43,000
-
43,000


Additions
-
58,900
58,900



At 31 May 2023
43,000
58,900
101,900





6.


Debtors

2023
2022
£
£


Trade debtors
18,724
65,460
Page 7

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.Debtors (continued)


Other debtors
393,615
3,060

Prepayments and accrued income
-
532

412,339
69,052



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
400,431
280,891

400,431
280,891



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans (See note 11)
9,529
11,058

Trade creditors
23,669
19,747

Corporation tax
118,978
78,968

Other taxation and social security
13,301
27,148

Other creditors
48,000
76

Accruals and deferred income
36,090
46,690

249,567
183,687



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans (See note 11)
21,593
31,566

21,593
31,566


Page 8

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,529
11,058


9,529
11,058


Amounts falling due 2-5 years

Bank loans
21,593
31,566


21,593
31,566


31,122
42,624


This loan facility is supported by the Bounce Back Loan Scheme, managed by the British Business Bank
on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial
Strategy. 
The loan bears interest at the rate of 2.5% per annum. Interest payable on the facility for 12 months from
the initial drawdown date is paid by the Secretary of State for Business, Energy & Industrial Strategy
through a business interruption payment made available to the Bank through the Bounce Back Loan
Scheme and not by the company.


11.


Pension commitments

The company contributes to a defined contribution pension scheme on behalf of its director. The assets of
the scheme are held separately from those of the company in an independently administered fund. The
pension charge for the year was £58,000 (2022: £42,500). There are no amounts outstanding at the year
end.
The annual commitment in respect of this scheme is £21,500.

Page 9

 
BIG JOINTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

12.


Related party transactions

During the year ordinary dividends totalling £Nil (2022: £182,700) were paid to the director in his
capacity as shareholder of the company.
Included in debtors at the balance sheet date is an amount of £383,135 (2022: £76 creditor) due from the director. The amount is in respect of net expenses borne by the company on behalf of the director and dividends paid to the director. This amount is unsecured, interest free and repayable on demand.
Also included in debtors at the balance sheet date is an amount of £6,897 (2022: £3,060) due from a company owned and controlled by the director. The amount is in respect of expenses borne on behalf of that company. This amount is unsecured, interest free and repayable on demand.

 
Page 10