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No description of principal activity
2023-03-01
Sage Accounts Production Advanced 2023 - FRS102_2023
1,634,502
863,858
770,644
770,644
xbrli:pure
xbrli:shares
iso4217:GBP
SC223616
2023-03-01
2024-02-29
SC223616
2024-02-29
SC223616
2023-02-28
SC223616
2022-03-01
2023-02-28
SC223616
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2022-02-28
SC223616
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2024-02-29
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2024-02-29
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2023-02-28
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2023-02-28
SC223616
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2024-02-29
SC223616
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2023-02-28
SC223616
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2024-02-29
SC223616
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2023-02-28
SC223616
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2024-02-29
SC223616
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2024-02-29
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2024-02-29
SC223616
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2023-02-28
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2024-02-29
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COMPANY REGISTRATION NUMBER:
SC223616
Filleted Unaudited Financial Statements |
|
Year ended 29 February 2024
Report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
3 |
|
|
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Big Bull Limited |
|
Year ended 29 February 2024
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 Bull Limited for the year ended 29 February 2024, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Big Bull Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Big Bull Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Big Bull Limited and its director for our work or for this report.
It is your duty to ensure that Big Bull 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 Bull Limited. You consider that Big Bull Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Big Bull 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.
GILLILAND & COMPANY
Chartered accountants
216 West George Street
Glasgow
G2 2PQ
7 November 2024
Statement of Financial Position |
|
29 February 2024
Fixed assets
Investments |
4 |
|
770,644 |
770,644 |
|
|
|
|
|
Current assets
Cash at bank and in hand |
4,278 |
|
4,338 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
9,589 |
|
9,589 |
|
------- |
|
------- |
Net current liabilities |
|
5,311 |
5,251 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
765,333 |
765,393 |
|
|
--------- |
--------- |
Net assets |
|
765,333 |
765,393 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
83,000 |
83,000 |
Share premium account |
|
684,391 |
684,391 |
Profit and loss account |
|
(
2,058) |
(
1,998) |
|
|
--------- |
--------- |
Shareholders funds |
|
765,333 |
765,393 |
|
|
--------- |
--------- |
|
|
|
|
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 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
7 November 2024
, and are signed on behalf of the board by:
Company registration number:
SC223616
Notes to the Financial Statements |
|
Year ended 29 February 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 48/10 Belford Road, Edinburgh, EH4 3BR.
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.
Cash & 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 investment 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 March 2023 and 29 February 2024 |
1,634,502 |
|
------------ |
Impairment |
|
At 1 March 2023 and 29 February 2024 |
863,858 |
|
------------ |
|
|
Carrying amount |
|
At 29 February 2024 |
770,644 |
|
------------ |
At 28 February 2023 |
770,644 |
|
------------ |
|
|
The company owns 100% of the share capital of Granite Edge Limited, a company registered in Scotland which operates as a property investment company. The financial position of Granite Edge Limited as at 31st May 2023 was a loss of £4,743 (2022: £516 profit) and capital and reserves of £706,401 (2022: £731,144). The results for the year to 31st May 2024 will be reported in the accounts of
Big Bull Limited
for the year to 28th February 2025.
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
9,589 |
9,589 |
|
------- |
------- |
|
|
|
6.
Director's advances, credits and guarantees
The company was under the control of
Mr P T H Lowrie
throughout the current and previous year. At the 29th February 2024 the company owed Mr Lowrie £9,039 (2023: £9,039). This loan is interest free and has no fixed date for repayment.