Company registration number 10604560 (England and Wales)
BIG CAT PROPERTY GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BIG CAT PROPERTY GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
BIG CAT PROPERTY GROUP LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
169,001
171,184
Investment property
4
2,323,073
2,300,573
Investments
5
924,717
909,869
3,416,791
3,381,626
Current assets
Debtors
6
11,020
152,497
Cash at bank and in hand
27,543
45,695
38,563
198,192
Creditors: amounts falling due within one year
7
(77,697)
(67,615)
Net current (liabilities)/assets
(39,134)
130,577
Total assets less current liabilities
3,377,657
3,512,203
Creditors: amounts falling due after more than one year
8
(717,154)
(737,729)
Provisions for liabilities
(70,942)
(56,672)
Net assets
2,589,561
2,717,802
Capital and reserves
Called up share capital
9
102
102
Revaluation reserve
12
155,024
138,149
Profit and loss reserves
12
2,434,435
2,579,551
Total equity
2,589,561
2,717,802

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

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 member has 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.

BIG CAT PROPERTY GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 9 July 2024
N Morgan
Director
Company registration number 10604560 (England and Wales)
BIG CAT PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Big Cat Property Group Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is PKF Smith Cooper Limited, 158 Edmund Street, Birmingham, West Midlands, B3 2HB. The company registration number is 10604560.

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, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable. Turnover represents rental income receivable from properties let in the year.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Art work, held at cost within the financial statements, is not depreciated as it is the view of management it is not a depreciable asset.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings etc
0% to 20% on cost.

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
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the revaluation reserve.

Fair value is determined annually by the directors and derived from the current market rents and investment property yields for comparable property, adjusted if necessary for any differences in the nature, location of condition of the specific asset.

BIG CAT PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Investments in listed company shares are remeasured to market value at each Balance Sheet date. Any material gains and losses on remeasurement are recognised in the profit and loss account for the period. The unrealised gains are then transferred and carried in a revaluation reserve.

 

1.6
Cash at bank and in hand

Cash at bank and in hand 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.

1.7
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable are not discounted.
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BIG CAT PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Deferred tax is recognised under provisions within these financial statements and amounted to £70,942 (2022: £56,672).

 

BIG CAT PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 1 (2022 - 1)

3
Tangible fixed assets
Art portfolio
Fixtures and fittings etc
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
167,500
10,918
178,418
Depreciation and impairment
At 1 December 2022
-
0
7,234
7,234
Depreciation charged in the year
-
0
2,183
2,183
At 30 November 2023
-
0
9,417
9,417
Carrying amount
At 30 November 2023
167,500
1,501
169,001
At 30 November 2022
167,500
3,684
171,184
4
Investment property
2023
£
Fair value
At 1 December 2022
2,300,573
Revaluations
22,500
At 30 November 2023
2,323,073

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the revaluation reserve.

 

5
Fixed asset investments
2023
2022
£
£
Investments
924,717
909,869

Market value of listed investments at 30 November 2023 - £624,627 (2022: £609,779).

 

Market value of unlisted investments at 30 November 2023 - £300,090 (2022: £300,090)

BIG CAT PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Fixed asset investments
£
Cost or valuation
At 1 December 2022
909,869
Valuation changes
16,858
At 30 November 2023
926,727
Impairment
At 1 December 2022
-
Impairment losses
2,010
At 30 November 2023
2,010
Carrying amount
At 30 November 2023
924,717
At 30 November 2022
909,869

During the period, the Company recognised a specific impairment of £2,010 against one of it's held listed investments as a result of the business entering administration and thus it's shares have been valued to £nil.

6
Debtors
2023
2022
£
£
Trade debtors
9,054
7,656
Other debtors
1,966
144,841
11,020
152,497
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
72,966
62,871
Trade creditors
837
-
0
Other creditors
3,894
4,744
77,697
67,615

The bank loan is secured by a debenture and a fixed charge over the properties held within the business.

BIG CAT PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 8 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
717,154
737,729
The bank loan is secured by a debenture and a fixed charge over the properties held within the business.
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
425,290
486,244
9
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
102 Ordinary shares of £1 each
102
102
10
Reserves

Revaluation reserve

This reserve records the changes in fair value of investment property net of deferred tax.

Profit and loss account

This reserve records all current and prior period retained profits and losses.

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