Big Bear Bespoke Education Ltd
Registered number: 08632452
Statement of Financial Position
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 260,751 264,771
Current assets
Debtors 5 161,035 154,225
Cash at bank and in hand 115,106 306,694
276,141 460,919
Creditors: amounts falling due within one year 6 (90,770) (128,975)
Net current assets 185,371 331,944
Total assets less current liabilities 446,122 596,715
Creditors: amounts falling due after more than one year 7 (44,000) (92,000)
Provisions for liabilities - (3,055)
Net assets 402,122 501,660
Capital and reserves
Called up share capital 100 100
Profit and loss account 402,022 501,560
Shareholders' funds 402,122 501,660
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Beverley White
Director
Approved by the board on 20 March 2024
Big Bear Bespoke Education Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 12 12
3 Government grants
The company received a local authority small business grant the income is shown in the profit and loss in the period in which the funds were received.
2023 2022
£ £
County council grants 3,101 10,203
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 248,690 29,631 278,321
At 31 July 2023 248,690 29,631 278,321
Depreciation
At 1 August 2022 - 13,550 13,550
Charge for the year - 4,020 4,020
At 31 July 2023 - 17,570 17,570
Net book value
At 31 July 2023 248,690 12,061 260,751
At 31 July 2022 248,690 16,081 264,771
5 Debtors 2023 2022
£ £
Trade debtors - 88,193
Other debtors 161,035 66,032
161,035 154,225
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 48,000 48,000
Accruals 1,995 1,872
Corporation tax - 37,478
Other taxes and social security costs 40,561 39,410
Other creditors 214 2,215
90,770 128,975
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 44,000 92,000
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Beverley White
Repayable on demand 8,107 125,471 8,107 125,471
8,107 125,471 8,107 125,471
9 Other information
Big Bear Bespoke Education Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Arun Court, 14 High Street
Bramley
Guildford
England
GU5 0HF
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