Registration number:
for the Period from 1 May 2023 to
Big Black Box Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Big Black Box Ltd
Company Information
Directors |
Mr T B Gjonnes Mr T R Prior |
Registered office |
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Accountants |
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Big Black Box Ltd
Directors' Report for the Period from 1 May 2023 to 30 October 2024
The directors present their report and the financial statements for the period from 1 May 2023 to 30 October 2024.
Directors of the company
The directors who held office during the period were as follows:
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Big Black Box Ltd
for the Period Ended 30 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Big Black Box Ltd for the period ended 30 October 2024 as set out on pages 4 to 9 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/regulation.
This report is made solely to the Board of Directors of Big Black Box Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Big Black Box Ltd and state those matters that we have agreed to state to the Board of Directors of Big Black Box 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 Black Box Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Big Black Box Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Big Black Box Ltd. You consider that Big Black Box 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 accounts of Big Black Box 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 accounts.
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Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP
Big Black Box Ltd
Profit and Loss Account for the Period from 1 May 2023 to 30 October 2024
Note |
2024 |
2023 |
|
Turnover |
- |
- |
|
Cost of sales |
( |
- |
|
Gross loss |
( |
- |
|
Administrative expenses |
( |
( |
|
Operating loss |
(146,326) |
(21,924) |
|
Other interest receivable and similar income |
|
- |
|
Interest payable and similar expenses |
|
- |
|
1,462 |
- |
||
Loss before tax |
( |
( |
|
Loss for the financial period |
( |
( |
Big Black Box Ltd
(Registration number: 13329169)
Balance Sheet as at 30 October 2024
Note |
2024 |
2023 |
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
1,013 |
1,000 |
|
Share premium reserve |
8,995 |
- |
|
Retained earnings |
(166,788) |
(21,924) |
|
Shareholders' deficit |
(156,780) |
(20,924) |
For the financial period ending 30 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Big Black Box Ltd
Statement of Changes in Equity for the Period from 1 May 2023 to 30 October 2024
Share capital |
Share premium |
Profit and loss account |
Total |
|
At 1 May 2023 |
|
- |
( |
( |
Loss for the period |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
New share capital subscribed |
|
|
- |
|
At 30 October 2024 |
|
|
( |
( |
Share capital |
Retained earnings |
Total |
|
At 1 May 2022 |
|
- |
|
Loss for the period |
- |
( |
( |
At 30 April 2023 |
1,000 |
(21,924) |
(20,924) |
Big Black Box Ltd
Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 October 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors consider that the company will be able to settle its liabilities as and when they fall due for the foreseeable future. This assessment has been made taking into account a period of at least 12 months from the approval and signing of these financial statements.
The directors do not commit to expenditure unless and until they are satisfied that sufficient funding is in place for the company to meet the related obligation. Accordingly, the financial statements have been prepared on a going concern basis and do not include any adjustments that would result if the company was unable to continue as a going concern.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Big Black Box Ltd
Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 October 2024
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Big Black Box Ltd
Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 October 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Debtors |
2024 |
2023 |
|
Other debtors |
|
- |
Prepayments |
|
- |
|
- |
A deferred tax asset has not been recognised due to the uncertainty of the timing of future profits, Had such an asset been recognised the value would have been £31,192 (2023: £3,890) at the period end.
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Loans and borrowings |
2024 |
2023 |
|
Current loans and borrowings |
||
Director's current account |
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The director’s current account is non-interest bearing and has no formal repayment terms.
Big Black Box Ltd
Detailed Profit and Loss Account for the Period from 1 May 2023 to 30 October 2024
2024 |
2023 |
|
Turnover (analysed below) |
- |
- |
Cost of sales (analysed below) |
(123,923) |
- |
Gross loss |
(123,923) |
- |
Administrative expenses |
||
General administrative expenses (analysed below) |
(22,239) |
(21,735) |
Finance charges (analysed below) |
(164) |
(189) |
(22,403) |
(21,924) |
|
Operating loss |
(146,326) |
(21,924) |
Other interest receivable and similar income (analysed below) |
3 |
- |
Interest payable and similar expenses (analysed below) |
1,459 |
- |
1,462 |
- |
|
Loss before tax |
(144,864) |
(21,924) |
Big Black Box Ltd
Detailed Profit and Loss Account for the Period from 1 May 2023 to 30 October 2024
2024 |
2023 |
Cost of sales |
||
Direct costs |
(123,923) |
- |
General administrative expenses |
||
Computer software and maintenance costs |
(851) |
(480) |
Travel and subsistence |
(2,861) |
(2,121) |
Advertising |
(42) |
(2,541) |
Customer entertaining (disallowable for tax) |
(1,165) |
(1,152) |
Accountancy fees |
(1,405) |
(1,873) |
Consultancy fees |
(2,850) |
(12,800) |
Legal and professional fees |
(13,065) |
(768) |
(22,239) |
(21,735) |
Finance charges |
||
Bank charges |
(164) |
(189) |
Other interest receivable and similar income |
||
Other interest receivable |
3 |
- |
Interest payable and similar expenses |
||
Foreign currency (gains)/losses |
1,459 |
- |