Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true0false2No description of principal activity2023-06-14falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14936837 2023-06-13 14936837 2023-06-14 2024-03-31 14936837 2022-06-14 2023-03-31 14936837 2024-03-31 14936837 c:Director1 2023-06-14 2024-03-31 14936837 d:FreeholdInvestmentProperty 2023-06-14 2024-03-31 14936837 d:FreeholdInvestmentProperty 2024-03-31 14936837 d:CurrentFinancialInstruments 2024-03-31 14936837 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14936837 d:ShareCapital 2024-03-31 14936837 d:RetainedEarningsAccumulatedLosses 2024-03-31 14936837 c:OrdinaryShareClass1 2023-06-14 2024-03-31 14936837 c:OrdinaryShareClass1 2024-03-31 14936837 c:OrdinaryShareClass2 2023-06-14 2024-03-31 14936837 c:OrdinaryShareClass2 2024-03-31 14936837 c:OrdinaryShareClass3 2023-06-14 2024-03-31 14936837 c:OrdinaryShareClass3 2024-03-31 14936837 c:FRS102 2023-06-14 2024-03-31 14936837 c:AuditExempt-NoAccountantsReport 2023-06-14 2024-03-31 14936837 c:FullAccounts 2023-06-14 2024-03-31 14936837 c:PrivateLimitedCompanyLtd 2023-06-14 2024-03-31 14936837 2 2023-06-14 2024-03-31 14936837 6 2023-06-14 2024-03-31 14936837 e:PoundSterling 2023-06-14 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14936837




 
 
 
BIG GLASSES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024



 










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BIG GLASSES LIMITED
REGISTERED NUMBER:14936837

BALANCE SHEET
AS AT 31 MARCH 2024

Period Ended 31 March 2024
Note
£

Fixed assets
  

Investments
 4 
120

Investment property
 5 
432,276

  
432,396

Current assets
  

Cash at bank and in hand
  
493,203

  
493,203

Creditors: amounts falling due within one year
 6 
(40,152)

Net current assets
  
 
 
453,051

Total assets less current liabilities
  
885,447

  

Net assets
  
885,447


Capital and reserves
  

Called up share capital 
  
60

Profit and loss account
  
885,387

  
885,447


The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

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 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 Company has opted not to file the statement of income and retained earnings in accordance with 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 14 August 2024.


Page 1

 
BIG GLASSES LIMITED
REGISTERED NUMBER:14936837
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024



T Moran
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BIG GLASSES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Big Glasses Limited is a private company, limited by shares, domiciled in England and Wales. The registered office address is 165 High Street, Honiton, Devon, United Kingdom, EX14 1LQ. 

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

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

Page 3

 
BIG GLASSES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.


Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Page 4

 
BIG GLASSES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


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

 
2.10

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 period was 2.


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
120



At 31 March 2024
120




Page 5

 
BIG GLASSES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
432,276



At 31 March 2024
432,276

The 2024 valuations were made by the Company Directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
432,276

432,276


6.


Creditors: Amounts falling due within one year

2024
£

Amounts owed to group undertakings
39,000

Corporation tax
325

Other creditors
177

Accruals and deferred income
650

40,152


Page 6

 
BIG GLASSES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Share capital

2024
£
Allotted, called up and fully paid


50 Ordinary Share A shares of £1.00 each
50
5 Ordinary Share B shares of £1.00 each
5
5 Ordinary Share C shares of £1.00 each
5

60


On the date of incorporation, 14 June 2023, 50 Ordinary class A shares and 5 Ordinary class B & C shares were issed with a value of £1.00 each.

 
Page 7