Company registration number 03431887 (England and Wales)
Bigmore Benefits Limited
Financial Statements
For the year ended
31 May 2024
Pages for filing with registrar
Bigmore Benefits Limited
Contents
Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
Bigmore Benefits Limited
Company Information
- 1 -
Directors
A. Nettleship
D. Sykes
Company number
03431887
Registered office
St George's House
25 Bridge Street
Walton-on-Thames
Surrey
KT12 1AF
Accountants
Dixcart International Limited
Chartered Accountants
Dixcart House
Addlestone Road
Bourne Business Park
Addlestone
Surrey
KT15 2LE
Bigmore Benefits Limited
Statement Of Financial Position
As at 31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,570
3,206
Current assets
Debtors
5
169,873
111,377
Cash at bank and in hand
37,313
74,444
207,186
185,821
Creditors: amounts falling due within one year
6
(104,228)
(119,107)
Net current assets
102,958
66,714
Total assets less current liabilities
106,528
69,920
Creditors: amounts falling due after more than one year
7
(17,501)
(27,505)
Net assets
89,027
42,415
Capital and reserves
Called up share capital
16,675
16,675
Share premium account
33,622
33,622
Profit and loss reserves
38,730
(7,882)
Total equity
89,027
42,415
The notes on pages 4 to 7 form part of these financial statements.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2024 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 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.
Bigmore Benefits Limited
Statement Of Financial Position (Continued)
As at 31 May 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 15 August 2024 and are signed on its behalf by:
A. Nettleship
Director
Company registration number 03431887 (England and Wales)
Bigmore Benefits Limited
Notes To The Financial Statements
For the year ended 31 May 2024
- 4 -
1
General information
Bigmore Benefits Limited is a private company limited by shares incorporated in England and Wales. The registered office is St George's House, 25 Bridge Street, Walton-on-Thames, Surrey, United Kingdom, KT12 1AF.
2
Accounting policies
2.1
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.
2.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. Commission is treated as income, on the date the related transaction is entered into or on the date of renewal.
2.3
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
15% straight line
Computers
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.
2.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
2.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
Bigmore Benefits Limited
Notes To The Financial Statements (Continued)
For the year ended 31 May 2024
2
Accounting policies
(Continued)
- 5 -
2.6
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction cost. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
2.7
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
2.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
Bigmore Benefits Limited
Notes To The Financial Statements (Continued)
For the year ended 31 May 2024
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 June 2023
3,212
2,079
5,291
Additions
1,906
1,906
At 31 May 2024
3,212
3,985
7,197
Depreciation and impairment
At 1 June 2023
1,037
1,048
2,085
Depreciation charged in the year
482
1,060
1,542
At 31 May 2024
1,519
2,108
3,627
Carrying amount
At 31 May 2024
1,693
1,877
3,570
At 31 May 2023
2,175
1,031
3,206
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
19,584
16,847
Amounts owed by group undertakings
95,759
40,000
Other debtors
54,530
54,530
169,873
111,377
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
6,628
6,750
Corporation tax
15,488
24,233
Other taxation and social security
2,989
3,735
Other creditors
69,123
74,389
104,228
119,107
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
17,501
27,505
Bigmore Benefits Limited
Notes To The Financial Statements (Continued)
For the year ended 31 May 2024
- 7 -
8
Directors' transactions
Included within other debtors is a loan to a director which amounted to £40,297 at the year end (2023: £40,297). This loan is interest free and repayable on demand.
9
Parent company
The company is controlled by its parent company Bigmore Associates Limited, incorporated in UK, with registered office at St. Georges House, 25 Bridge Street, Walton-on-Thames, Surrey, KT12 1AF.