Registered number
04942726
Bigstuff Limited
Unaudited Filleted Accounts
30 June 2024
Bigstuff Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Bigstuff Limited
Company Information
Directors
Glenne Wheeler
Jim Foster
Secretary
Jim Foster
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
Unit D
Woodside Trade Centre
34 Parham Drive
Eastleigh
SO50 4NU
Registered number
04942726
Bigstuff Limited
Registered number: 04942726
Directors' Report
The directors present their report and accounts for the year ended 30 June 2024.
Principal activities
The company's principal activity during the year continued to be that of large format printing.
Directors
The following persons served as directors during the year:
Glenne Wheeler
Jim Foster
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 24 March 2025 and signed on its behalf.
Mr J Foster
Director
Bigstuff Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Bigstuff Limited for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bigstuff Limited for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
28 March 2025
Bigstuff Limited
Registered number: 04942726
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,514 18,521
Current assets
Stocks 10,000 10,000
Debtors 4 159,580 131,816
Cash at bank and in hand 3 21,354
169,583 163,170
Creditors: amounts falling due within one year 5 (211,445) (182,860)
Net current liabilities (41,862) (19,690)
Total assets less current liabilities (27,348) (1,169)
Creditors: amounts falling due after more than one year 6 (10,000) (20,000)
Provisions for liabilities (2,260) (3,060)
Net liabilities (39,608) (24,229)
Capital and reserves
Called up share capital 100 100
Profit and loss account (39,708) (24,329)
Shareholders' funds (39,608) (24,229)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Wheeler
Director
Approved by the board on 24 March 2025
Bigstuff Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to leasehold Straight line over 20 years
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
Despite the negative net asset position, the directors have prepared the accounts on a going concern basis. The directors are aware that the dividends are technically 'illegal' under the Companies Act but feel that the position will be corrected in the coming year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 8,757 247,390 256,147
At 30 June 2024 8,757 247,390 256,147
Depreciation
At 1 July 2023 4,511 233,115 237,626
Charge for the year 438 3,569 4,007
At 30 June 2024 4,949 236,684 241,633
Net book value
At 30 June 2024 3,808 10,706 14,514
At 30 June 2023 4,246 14,275 18,521
4 Debtors 2024 2023
£ £
Trade debtors 158,101 130,529
Other debtors 1,479 1,287
159,580 131,816
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 46,230 10,000
Trade creditors 24,766 38,365
Taxation and social security costs 121,221 119,520
Other creditors 19,228 14,975
211,445 182,860
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 20,000
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 17,906 16,500
8 Controlling party
The company is controlled by the directors by virtue of their shareholdings.
9 Other information
Bigstuff Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit D
Woodside Trade Centre
34 Parham Drive
Eastleigh
SO50 4NU
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