1 01/03/2023 29/02/2024 2024-02-29 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12466449 2023-03-01 2024-02-29 12466449 2024-02-29 12466449 2023-02-28 12466449 2022-03-01 2023-02-28 12466449 2023-02-28 12466449 2022-02-28 12466449 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 12466449 core:OnerousContractsExcludingVacantProperties 2023-03-01 2024-02-29 12466449 bus:Director1 2023-03-01 2024-02-29 12466449 core:FurnitureFittingsToolsEquipment 2023-02-28 12466449 core:FurnitureFittingsToolsEquipment 2024-02-29 12466449 core:DeferredTaxation 2023-03-01 2024-02-29 12466449 core:WithinOneYear 2024-02-29 12466449 core:WithinOneYear 2023-02-28 12466449 core:UKTax 2023-03-01 2024-02-29 12466449 core:UKTax 2022-03-01 2023-02-28 12466449 core:ShareCapital 2024-02-29 12466449 core:ShareCapital 2023-02-28 12466449 core:RetainedEarningsAccumulatedLosses 2024-02-29 12466449 core:RetainedEarningsAccumulatedLosses 2023-02-28 12466449 core:AcceleratedTaxDepreciationDeferredTax 2024-02-29 12466449 core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 12466449 core:FurnitureFittingsToolsEquipment 2023-02-28 12466449 core:DeferredTaxation 2023-02-28 12466449 core:DeferredTaxation 2024-02-29 12466449 bus:SmallEntities 2023-03-01 2024-02-29 12466449 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12466449 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12466449 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12466449 bus:FullAccounts 2023-03-01 2024-02-29 12466449 core:ComputerEquipment 2023-03-01 2024-02-29 12466449 core:ComputerEquipment 2023-02-28 12466449 core:ComputerEquipment 2024-02-29 12466449 core:OtherRelatedParties 2023-03-01 2024-02-29
Company registration number: 12466449
Big Orange Jumper Limited
Unaudited filleted financial statements
29 February 2024
Big Orange Jumper Limited
Contents
Statement of financial position
Notes to the financial statements
Big Orange Jumper Limited
Statement of financial position
29 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 3,892 1,786
_______ _______
3,892 1,786
Current assets
Debtors 7 16,921 11,850
Cash at bank and in hand 89,151 123,181
_______ _______
106,072 135,031
Creditors: amounts falling due
within one year 8 ( 28,496) ( 31,929)
_______ _______
Net current assets 77,576 103,102
_______ _______
Total assets less current liabilities 81,468 104,888
Provisions for liabilities 9 ( 973) ( 339)
_______ _______
Net assets 80,495 104,549
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 80,494 104,548
_______ _______
Shareholders funds 80,495 104,549
_______ _______
For the year ending 29 February 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 members have 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Miss Sarah O'Brien
Director
Company registration number: 12466449
Big Orange Jumper Limited
Notes to the financial statements
Year ended 29 February 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 Big Orange Jumper Limited, 2 Haydan Mews, Godscroft Lane, Frodsham, England, WA6 6XU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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, fittings and equipment - 20 % straight line
Computer equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 12,598 20,522
_______ _______
Deferred tax:
Origination and reversal of timing differences 634 ( 188)
_______ _______
Tax on profit 13,232 20,334
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 March 2023 2,650 2,505 5,155
Additions 3,375 - 3,375
_______ _______ _______
At 29 February 2024 6,025 2,505 8,530
_______ _______ _______
Depreciation
At 1 March 2023 1,590 1,779 3,369
Charge for the year 643 626 1,269
_______ _______ _______
At 29 February 2024 2,233 2,405 4,638
_______ _______ _______
Carrying amount
At 29 February 2024 3,792 100 3,892
_______ _______ _______
At 28 February 2023 1,060 726 1,786
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 2,067 -
Prepayments and accrued income 14,854 11,850
_______ _______
16,921 11,850
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 539 574
Corporation tax 12,598 20,522
Social security and other taxes 4,945 6,184
Director's loan account 1 187
Accruals and deferred income 10,413 4,462
_______ _______
28,496 31,929
_______ _______
9. Provisions
Deferred tax (note 10) Total
£ £
At 1 March 2023 339 339
Additions 634 634
_______ _______
At 29 February 2024 973 973
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 9) 973 339
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 973 339
_______ _______
11. Related party transactions
Miss S O'Brien is considered to be a related party to Big Orange Jumper Limited by virtue of her directorship and shareholding in the company.As at 29 February 2024 the company owed Miss O'Brien the sum of £1 (2023: £187).The loan is interest free, unsecured and repayable on demand.