Company registration number 14475803 (England and Wales)
BIG CIRCLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BIG CIRCLE LIMITED
COMPANY INFORMATION
Directors
Ms J Lam
(Appointed 10 November 2022)
Mr S M Lam
(Appointed 10 November 2022)
Company number
14475803
Registered office
Flat 21
Holmefield Court
Belsize Grove
London
Greater London
NW3 4TT
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
98 Victoria Street
London
SW1E 5JL
BIG CIRCLE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
BIG CIRCLE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BIG CIRCLE LIMITED FOR THE PERIOD ENDED 29 NOVEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Big Circle Limited for the period ended 29 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Big Circle Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Big Circle Limited and state those matters that we have agreed to state to the board of directors of Big Circle Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Big Circle Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Big Circle Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Big Circle Limited. You consider that Big Circle Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Big Circle Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
23 October 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BIG CIRCLE LIMITED
BALANCE SHEET
AS AT
29 NOVEMBER 2023
29 November 2023
- 2 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
87
Investment property
4
134,099
134,186
Current assets
Debtors
5
2,175
Cash at bank and in hand
1,329
3,504
Creditors: amounts falling due within one year
6
(146,179)
Net current liabilities
(142,675)
Net liabilities
(8,489)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(8,589)
Total equity
(8,489)

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

For the financial period ended 29 November 2023 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 members have not required the company to obtain an audit of its financial statements for the period 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.

The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
Ms J  Lam
Mr S M Lam
Director
Director
Company registration number 14475803 (England and Wales)
BIG CIRCLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Big Circle Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 21, Holmefield Court, Belsize Grove, London, Greater London, United Kingdom, NW3 4TT.

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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

1.3
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:

IT equipment
33% on cost
1.4
Investment property

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. Changes in fair value are recognised in profit or loss.

1.5
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 CIRCLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
2
3
Tangible fixed assets
IT equipment
£
Cost
At 10 November 2022
-
0
Additions
130
At 29 November 2023
130
Depreciation and impairment
At 10 November 2022
-
0
Depreciation charged in the period
43
At 29 November 2023
43
Carrying amount
At 29 November 2023
87
BIG CIRCLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 NOVEMBER 2023
- 5 -
4
Investment property
2023
£
Fair value
At 10 November 2022
-
0
Additions
134,099
At 29 November 2023
134,099
5
Debtors
2023
Amounts falling due within one year:
£
Other debtors
215
Deferred tax asset
1,960
2,175
6
Creditors: amounts falling due within one year
2023
£
Trade creditors
211
Amounts owed to group undertakings and undertakings in which the company has a participating interest
67,000
Other creditors
78,968
146,179
7
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100

100 Ordinary shares of £1 were allotted and fully paid for cash at par during the period.

8
Ultimate controlling party

There is no ultimate controlling party.

9
Comparatives

This is the company's first period of trade, therefore there are no comparatives.

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