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Registered number: 09357254










BIGTOTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
BIGTOTS LIMITED
REGISTERED NUMBER: 09357254

BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,487
4,810

Investments
 5 
595,817
330,785

Investment property
 6 
2,700,000
2,073,259

  
3,299,304
2,408,854

Current assets
  

Debtors: amounts falling due within one year
 7 
1,911,987
1,274,990

Cash at bank and in hand
 8 
468,194
174,126

  
2,380,181
1,449,116

  

Creditors: amounts falling due within one year
 9 
(3,665,009)
(2,319,275)

Net current liabilities
  
 
 
(1,284,828)
 
 
(870,159)

Total assets less current liabilities
  
2,014,476
1,538,695

Provisions for liabilities
  

Deferred tax
 10 
-
(50,518)

Net assets
  
2,014,476
1,488,177


Capital and reserves
  

Called up share capital 
 11 
196
196

Revaluation reserve
  
(34,249)
230,203

Profit and loss account
  
2,048,529
1,257,778

  
2,014,476
1,488,177


Page 1

 
BIGTOTS LIMITED
REGISTERED NUMBER: 09357254

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S J Bartlett
Director

Date: 29 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Bigtots Limited is a private company limited by shares, incorporated in England and Wales. The address of its registered office is 8 Grass Hill, Caversham, Reading, Berkshire, RG4 7TJ.

2.Accounting policies

 
2.1

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance method
Motor vehicles
-
20%
on cost
Office equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and 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 investments 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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 5

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
2,090
16,983
19,073


Additions
-
1,753
1,753



At 31 December 2023

2,090
18,736
20,826



Depreciation


At 1 January 2023
1,409
12,854
14,263


Charge for the year on owned assets
136
2,940
3,076



At 31 December 2023

1,545
15,794
17,339



Net book value



At 31 December 2023
545
2,942
3,487



At 31 December 2022
681
4,129
4,810


5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 January 2023 (as previously stated)
-
330,585
330,585


Prior Year Adjustment

200
-
200


At 1 January 2023 (as restated)
200
330,585
330,785


Additions
-
265,032
265,032



At 31 December 2023
200
595,617
595,817




Page 6

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Investment property


Investment property

£



Valuation


At 1 January 2023 (as previously stated)
2,091,366


Prior year adjustment
(18,107)


At 1 January 2023 (as restated)
2,073,259


Additions at cost
1,764,452


Disposals
(873,259)


Deficit on revaluation
(264,452)



At 31 December 2023
2,700,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

As restated
2023
2022
£
£


Trade debtors
-
7,183

Amounts owed by group undertakings
721,234
715,196

Amounts owed by related parties
1,123,310
-

Other debtors
44,825
517,013

Prepayments and accrued income
3,346
35,598

Deferred taxation
19,272
-

1,911,987
1,274,990


Included in other debtors is a loan of £nil (2022 - £467,438) to S T Limited. The loan is interest free and repayable on demand.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
468,194
174,126


Page 7

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
5,824
6,646

Corporation tax
231,958
64,016

Other taxation and social security
10,072
13,506

Other creditors
3,413,315
2,231,597

Accruals and deferred income
3,840
3,510

3,665,009
2,319,275



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(50,518)
(65,214)


Charged to profit or loss
69,790
14,696



At end of year
19,272
(50,518)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(872)
(1,203)

Capital losses/(gains)
20,144
(49,315)

19,272
(50,518)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



19,609 (2022 - 19,609) Ordinary shares of £0.01 each
196
196


Page 8

 
BIGTOTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Prior year adjustment

The comparative figures have been updated to reflect a reallocation of costs to the Jazza58 Limited intercompany loan account that had been incorrectly included as costs of the company in the previous year, as well as bringing in the purchase of the share capital in the two subsidiary companies.
The effect of the adjustment is that amounts owed by group undertakings has increased by £42,096, investment property has reduced by £18,107, VAT creditor has increased by £7,187, investment in subsidiaries has increased by £200 and the overall impact on the profit and loss account was an increase in profit of £17,002.


13.


Related party transactions

Included in amounts owed by group undertakings are the following loans to subsidiaries. The loans are interest free and repayable on demand:
  Jazza58 Limited £715,676 (2022 - £709,638)
  Penmayne58 Limited £5,558 (2022 - £5,558)
Included in amounts owed by related parties are the following loans to companies under common control. The loans are interest free and repayable on demand:
  Atlantic Construction (Cornwall) Ltd £150,000 (2022 - £nil)
  Atlantic Developments (Cornwall) Ltd £973,310 (2022 - £nil)
Included in other creditors is a balance owed to the directors ot £3,413,107 (2022 - £2,231,331). The loan is interest free and repayable on demand.

Page 9