|
|
|
THE BIG EVENTS COMPANY LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
The Big Events Company Limited is a private company, limited by shares, incorporated in England and Wales, with its principal place of business and registered office at 1st Floor, 47a Firth Street, Soho, London, W1D 4HT.
The principal activity of the Company continued to be the marketing of televised events on a worldwide basis.
2.Accounting policies
|
|
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's activities are funded by an interest free loan from M Watt, a director and the sole shareholder. At the reporting date, the Company owed £4,056,667 (2023 - £4,117,476) to M Watt and this is included in other creditors. The directors have prepared the financial statements on a going concern basis on the assumption that M Watt will continue to provide such financial support as may be required by the Company to meet its liabilities as they fall due for at least 12 months following the date of approval of the financial statements.
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is £ Sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
|