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Company registration number: 10884836
Big Screen Live Ltd
Unaudited filleted financial statements
30 July 2023
Big Screen Live Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Big Screen Live Ltd
Directors and other information
Directors Mr T Pearson
Mr R Houghton (Resigned 9 February 2024)
Company number 10884836
Registered office Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Big Screen Live Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Big Screen Live Ltd
Period ended 30 July 2023
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 Screen Live Ltd for the period ended 30 July 2023 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Big Screen Live Ltd, as a body, in accordance with the terms of our engagement letter dated 13 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Big Screen Live Ltd and state those matters that we have agreed to state to the board of directors of Big Screen Live Ltd 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 Screen Live Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Big Screen Live Ltd 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 profit of Big Screen Live Ltd. You consider that Big Screen Live Ltd 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 Screen Live Ltd. 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.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
25 February 2025
Big Screen Live Ltd
Statement of financial position
30 July 2023
30/07/23 31/07/22
Note £ £ £ £
Fixed assets
Tangible assets 5 1 1
_______ _______
1 1
Current assets
Cash at bank and in hand 1,204 760
_______ _______
1,204 760
Creditors: amounts falling due
within one year 6 ( 147,385) ( 150,226)
_______ _______
Net current liabilities ( 146,181) ( 149,466)
_______ _______
Total assets less current liabilities ( 146,180) ( 149,465)
Creditors: amounts falling due
after more than one year 7 ( 15,157) ( 21,165)
_______ _______
Net liabilities ( 161,337) ( 170,630)
_______ _______
Capital and reserves
Called up share capital 100 100
Share premium account 149,960 149,960
Profit and loss account ( 311,397) ( 320,690)
_______ _______
Shareholders deficit ( 161,337) ( 170,630)
_______ _______
For the period ending 30 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge 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 25 February 2025 , and are signed on behalf of the board by:
Mr T Pearson
Director
Company registration number: 10884836
Big Screen Live Ltd
Notes to the financial statements
Period ended 30 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.
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.
Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the company's shareholders.
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.
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:
Fittings fixtures and equipment - Straight line over 3 years
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.
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.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2022 and 30 July 2023 3,099 3,099
_______ _______
Depreciation
At 1 August 2022 and 30 July 2023 3,098 3,098
_______ _______
Carrying amount
At 30 July 2023 1 1
_______ _______
At 31 July 2022 1 1
_______ _______
6. Creditors: amounts falling due within one year
30/07/23 31/07/22
£ £
Bank loans and overdrafts 6,008 5,861
Trade creditors 4,148 3,998
Corporation tax 4,984 3,180
Social security and other taxes 53,606 59,098
Other creditors 78,639 78,089
_______ _______
147,385 150,226
_______ _______
7. Creditors: amounts falling due after more than one year
30/07/23 31/07/22
£ £
Bank loans and overdrafts 15,157 21,165
_______ _______
8. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 30/07/23
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr T Pearson ( 278) 142 - ( 136)
_______ _______ _______ _______
Year ended 31/07/22
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr T Pearson 30,075 ( 278) ( 30,075) ( 278)
_______ _______ _______ _______