THE BIG A (HOLDING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Big A (Holding) Limited is a private company limited by share, registered in England and Wales, registered number 09831666. The registered office is 15th Floor, 6 Bevis Marks, London, EC3A 7BA.
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 following principal accounting policies have been applied:
Following the sale of the trade and assets of the Company to Oliver Wyman, Inc., in the prior year, the company has now ceased trading and the Director intends to liquidate the company once the deferred consideration (Note 7) for the sale of assets and trade has been received.
At the date of signing this has not been completed. The Director therefore does not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements and therefore they have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company's assets to net realisable value.
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is GBP.
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.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Interest income is recognised in profit or loss using the effective interest method.
|