Company registration number 02950757 (England and Wales)
THE BIG PICTURE MARKET RESEARCH LIMITED
Unaudited financial statements
For the year ended 29 September 2024
Pages for filing with registrar
THE BIG PICTURE MARKET RESEARCH LIMITED
COMPANY INFORMATION
Directors
Mrs L J Pereira
Mr Chris Aukett
Company number
02950757
Registered office
4 Valentine Place
London
SE1 8QH
Accountants
WSM Advisors Limited
Connect House
133-137 Alexandra Road
Wimbledon
London
SW19 7JY
THE BIG PICTURE MARKET RESEARCH LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
THE BIG PICTURE MARKET RESEARCH LIMITED
STATEMENT OF FINANCIAL POSITION
As at 29 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Intangible assets
4
8,500
-
0
Property, plant and equipment
5
5,895
11,076
Investments
6
10,526
10,526
24,921
21,602
Current assets
Trade and other receivables
7
976,661
1,122,121
Cash and cash equivalents
1,208,496
1,015,990
2,185,157
2,138,111
Current liabilities
8
(630,510)
(682,535)
Net current assets
1,554,647
1,455,576
Total assets less current liabilities
1,579,568
1,477,178
Non-current liabilities
9
(17,338)
(27,408)
Provisions for liabilities
(1,050)
(2,139)
Net assets
1,561,180
1,447,631
Equity
Called up share capital
708
708
Share premium account
(2,571)
(2,571)
Capital redemption reserve
304
304
Retained earnings
1,562,739
1,449,190
Total equity
1,561,180
1,447,631

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

THE BIG PICTURE MARKET RESEARCH LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 29 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mrs L J Pereira
Director
Company Registration No. 02950757
THE BIG PICTURE MARKET RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 29 September 2024
- 3 -
1
Accounting policies
Company information

The Big Picture Market Research Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Valentine Place, London, SE1 8QH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover represents income from market research services performed during the year.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
3 years straight line
1.5
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided on all tangible fixed assets either at rates calculated to write off the full cost or valuation over its estimated useful life. The principal rates in use are:

Leasehold improvements
Straight line over the term of the lease
Fixtures, fittings & equipment
15% - 33% straight line
Computer equipment
Straight line over 3 years
THE BIG PICTURE MARKET RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 September 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

THE BIG PICTURE MARKET RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 September 2024
1
Accounting policies
(Continued)
- 5 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.

 

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

 

Deferred tax is measured on a non-discounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.10
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE BIG PICTURE MARKET RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 September 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
22
22
4
Intangible fixed assets
Other
£
Cost
At 30 September 2023
40,350
Additions
8,500
At 29 September 2024
48,850
Amortisation and impairment
At 30 September 2023 and 29 September 2024
40,350
Carrying amount
At 29 September 2024
8,500
At 29 September 2023
-
0
5
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 30 September 2023
142,822
180,879
323,701
Additions
-
0
6,219
6,219
At 29 September 2024
142,822
187,098
329,920
Depreciation and impairment
At 30 September 2023
139,433
173,192
312,625
Depreciation charged in the year
3,389
8,011
11,400
At 29 September 2024
142,822
181,203
324,025
Carrying amount
At 29 September 2024
-
0
5,895
5,895
At 29 September 2023
3,389
7,687
11,076
THE BIG PICTURE MARKET RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 September 2024
- 7 -
6
Fixed asset investments
2024
2023
£
£
Investments
10,526
10,526

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Movements in non-current investments
Shares in group undertakings
£
Cost or valuation
At 30 September 2023 & 29 September 2024
10,526
Carrying amount
At 29 September 2024
10,526
At 29 September 2023
10,526
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
920,148
1,122,121
Other receivables
56,513
-
0
976,661
1,122,121
8
Current liabilities
2024
2023
£
£
Trade payables
165,199
222,870
Corporation tax
61,102
88,466
Other taxation and social security
110,246
70,212
Other payables
293,963
300,987
630,510
682,535
THE BIG PICTURE MARKET RESEARCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 September 2024
- 8 -
9
Non-current liabilities
2024
2023
£
£
Bank loans and overdrafts
17,338
27,408
10
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under operating leases, as follows:

2024
2023
£
£
Total commitments
409,244
561,569
11
Related party transactions

During the year the company provided goods and services in the amount of £45,523 to its wholly owned subsidiary.

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