Company registration number 15103033 (England and Wales)
BIG LOVE MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
BIG LOVE MANAGEMENT LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BIG LOVE MANAGEMENT LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
Notes
£
£
Fixed assets
Tangible assets
3
474
Investment property
4
503,964
504,438
Current assets
Debtors
5
633
Cash at bank and in hand
2,635
3,268
Creditors: amounts falling due within one year
6
(430,707)
Net current liabilities
(427,439)
Total assets less current liabilities
76,999
Creditors: amounts falling due after more than one year
7
(115,821)
Net liabilities
(38,822)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(38,823)
Total equity
(38,822)
For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 29 August 2025
Mr O Davies
Director
Company registration number 15103033 (England and Wales)
BIG LOVE MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Big Love Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 14-15, Berners Street, London W1T 3LJ.
1.1
Reporting period
The financial statements have been prepared for a longer period, with the date of incorporation being the 29th August 2023.
1.2
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.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Revenue represents amounts receivable for commercial rent and services.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation 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:
Fixtures and fittings
20% straight line method
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
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.7
Financial instruments
Basic financial assets
Basic financial assets, which include debtors 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.
BIG LOVE MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial instruments, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
Number
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 29 August 2023
Additions
593
At 31 August 2024
593
Depreciation and impairment
At 29 August 2023
Depreciation charged in the period
119
At 31 August 2024
119
Carrying amount
At 31 August 2024
474
4
Investment property
£
Fair value
At 29 August 2023
Additions
503,964
At 31 August 2024
503,964
BIG LOVE MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
- 4 -
5
Debtors
Amounts falling due within one year:
£
Prepayments and accrued income
633
6
Creditors: amounts falling due within one year
Notes
£
Bank loans
8
2,031
Other borrowings
8
633
Trade creditors
3,691
Other creditors
421,455
Accruals and deferred income
2,897
430,707
7
Creditors: amounts falling due after more than one year
Notes
£
Bank loans and overdrafts
8
115,821
8
Loans and overdrafts
£
Bank loans
117,852
Other loans
633
118,485
Payable within one year
2,664
Payable after one year
115,821
Kensington Mortgage Company Limited provided the company with a bank loan which is secured against the investment property. As at the year end £117,852 was outstanding with £107,698 due after five years.