Silverfin false false 30/11/2023 01/12/2022 30/11/2023 N Gale 05/11/2015 N Myers 05/11/2015 29 February 2024 The principal activity of Piggy Bvnk Ltd is the provision of music artist management. 09858734 2023-11-30 09858734 bus:Director1 2023-11-30 09858734 bus:Director2 2023-11-30 09858734 2022-11-30 09858734 core:CurrentFinancialInstruments 2023-11-30 09858734 core:CurrentFinancialInstruments 2022-11-30 09858734 core:ShareCapital 2023-11-30 09858734 core:ShareCapital 2022-11-30 09858734 core:RetainedEarningsAccumulatedLosses 2023-11-30 09858734 core:RetainedEarningsAccumulatedLosses 2022-11-30 09858734 2022-12-01 2023-11-30 09858734 bus:FilletedAccounts 2022-12-01 2023-11-30 09858734 bus:SmallEntities 2022-12-01 2023-11-30 09858734 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 09858734 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09858734 bus:Director1 2022-12-01 2023-11-30 09858734 bus:Director2 2022-12-01 2023-11-30 09858734 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Company No: 09858734 (England and Wales)

PIGGY BVNK LTD

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

PIGGY BVNK LTD

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

PIGGY BVNK LTD

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
PIGGY BVNK LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Current assets
Cash at bank and in hand 3 20,008 14,123
20,008 14,123
Creditors: amounts falling due within one year 4 ( 13,731) ( 9,088)
Net current assets 6,277 5,035
Total assets less current liabilities 6,277 5,035
Net assets 6,277 5,035
Capital and reserves
Called-up share capital 2 2
Profit and loss account 6,275 5,033
Total shareholders' funds 6,277 5,035

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Piggy Bvnk Ltd (registered number: 09858734) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N Myers
Director

29 February 2024

PIGGY BVNK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
PIGGY BVNK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Piggy Bvnk Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11b Clifton Gardens, London, NW11 7ER, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 20,008 14,123

4. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 1,933 1,891
Other creditors 11,798 7,197
13,731 9,088