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COMPANY REGISTRATION NUMBER: 11249917
Big Blue Bear Ltd
Filleted Unaudited Financial Statements
31 March 2024
Big Blue Bear Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Big Blue Bear Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
153,371
133,839
Current assets
Debtors
6
54,222
84,824
Cash at bank and in hand
61,534
96,643
---------
---------
115,756
181,467
Creditors: amounts falling due within one year
7
85,558
120,098
---------
---------
Net current assets
30,198
61,369
---------
---------
Total assets less current liabilities
183,569
195,208
Creditors: amounts falling due after more than one year
8
123,146
115,089
Provisions
25,003
11,641
---------
---------
Net assets
35,420
68,478
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
35,320
68,378
--------
--------
Shareholder funds
35,420
68,478
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Big Blue Bear Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
C D Dempsey
Director
Company registration number: 11249917
Big Blue Bear Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Croft, Pishill, Henley-On-Thames, RG9 6HH, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
50% straight line
Motor vehicles
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. 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 in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
39,442
190,546
229,988
Additions
6,012
117,029
123,041
Disposals
( 4,770)
( 109,167)
( 113,937)
--------
---------
---------
At 31 March 2024
40,684
198,408
239,092
--------
---------
---------
Depreciation
At 1 April 2023
32,758
63,391
96,149
Charge for the year
6,518
46,836
53,354
Disposals
( 4,650)
( 59,132)
( 63,782)
--------
---------
---------
At 31 March 2024
34,626
51,095
85,721
--------
---------
---------
Carrying amount
At 31 March 2024
6,058
147,313
153,371
--------
---------
---------
At 31 March 2023
6,684
127,155
133,839
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
23,520
Other debtors
30,702
84,824
--------
--------
54,222
84,824
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,906
( 1,168)
Corporation tax
19,137
Social security and other taxes
11,309
9,300
Other creditors
71,343
92,829
--------
---------
85,558
120,098
--------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
123,146
115,089
---------
---------
9. Related party transactions
At the year end the company owed the director £48,384 (2023: £65,736).