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Registered Number: 12139504
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 March 2024

for

BIG PROPERTY ASSETS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 20,886    20,575 
Investment property 4 2,123,800    1,100,000 
2,144,686    1,120,575 
Current assets      
Debtors 26,064    689 
Cash at bank and in hand 32,653    5,764 
58,717    6,453 
Creditors: amount falling due within one year (840,553)   (15,983)
Net current assets (781,836)   (9,530)
 
Total assets less current liabilities 1,362,850    1,111,045 
Creditors: amount falling due after more than one year (1,173,956)   (836,182)
Provisions for liabilities (34,253)   (34,253)
Net assets 154,641    240,610 
 

Capital and reserves
     
Called up share capital 5 1    1 
Revaluation Reserves 6 236,064    236,065 
Profit and loss account (81,424)   4,544 
Shareholders' funds 154,641    240,610 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The directors of the company have elected not to include the Income Statement within the financial statements.
The financial statements were approved by the board of directors on 27 March 2025 and were signed on its behalf by:


-------------------------------
A Grubliauskas
Director
1
General Information
Big Property Assets Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is First Floor, 24 High Street, Kings Heath, Birmingham, West Midlands, B14 7JT. The nature of the company's operations and its principal activity was that of property investment.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 31 March each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Turnover
Turnover comprises rental income receivable during the period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023   37,685    37,685 
Additions 2,800    7,010    9,810 
Disposals    
At 31 March 2024 2,800    44,695    47,495 
Depreciation
At 01 April 2023   17,110    17,110 
Charge for year 560    8,939    9,499 
On disposals    
At 31 March 2024 560    26,049    26,609 
Net book values
Closing balance as at 31 March 2024 2,240    18,646    20,886 
Opening balance as at 01 April 2023   20,575    20,575 


4.

Investment property

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 1,100,000    1,100,000 
Additions 1,023,800    1,023,800 
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 2,123,800    2,123,800 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

2