COMPANY REGISTRATION NUMBER:
11342178
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
|
31 Dec 24 |
31 May 24 |
|
Note |
£ |
£ |
|
|
|
Fixed assets
|
Tangible assets |
5 |
2,403 |
3,369 |
|
Investments |
6 |
1,300,000 |
1,300,000 |
|
------------ |
------------ |
|
1,302,403 |
1,303,369 |
|
|
|
|
Current assets
|
Debtors |
7 |
132,694 |
133,008 |
|
Cash at bank and in hand |
43,789 |
32,970 |
|
--------- |
--------- |
|
176,483 |
165,978 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
1,600,826 |
1,536,087 |
|
------------ |
------------ |
|
Net current liabilities |
1,424,343 |
1,370,109 |
|
------------ |
------------ |
|
Total assets less current liabilities |
(
121,940) |
(
66,740) |
|
|
|
|
|
Provisions |
68,606 |
68,606 |
|
--------- |
--------- |
|
Net liabilities |
(
190,546) |
(
135,346) |
|
--------- |
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
2 |
2 |
|
Profit and loss account - non-distributable |
231,394 |
231,394 |
|
Profit and loss account - distributable |
(
421,942) |
(
366,742) |
|
--------- |
--------- |
|
Shareholders deficit |
(
190,546) |
(
135,346) |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
24 December 2025
, and are signed on behalf of the board by:
Company registration number:
11342178
|
Notes to the Financial Statements |
|
Period from 1 June 2024 to 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, England, W1W 6AN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Going concern
The directors of Bigdude & Co Ltd have confirmed that they will not seek repayment of the net amount owed to them of £269,698 (2023: £1,278,962) at the financial year end and will continue to provide financial support to enable the company to meet its liabilities as and when they fall due in the twelve months from the date of approval of these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent and rental management services, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
20% straight line |
|
Equipment |
- |
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
(2024:
1
).
5.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 June 2024 and 31 December 2024 |
24,689 |
|
27,396 |
|
-------- |
------- |
-------- |
|
Depreciation |
|
|
|
|
At 1 June 2024 |
23,305 |
|
24,027 |
|
Charge for the period |
650 |
|
966 |
|
-------- |
------- |
-------- |
|
At 31 December 2024 |
23,955 |
|
24,993 |
|
-------- |
------- |
-------- |
|
Carrying amount |
|
|
|
|
At 31 December 2024 |
734 |
|
2,403 |
|
-------- |
------- |
-------- |
|
At 31 May 2024 |
1,384 |
|
3,369 |
|
-------- |
------- |
-------- |
|
|
|
|
6.
Investments
|
Investment property |
|
£ |
|
Cost / Valuation |
|
|
At 1 June 2024 and 31 December 2024 |
1,300,000 |
|
------------ |
|
Impairment |
|
|
At 1 June 2024 and 31 December 2024 |
– |
|
------------ |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
1,300,000 |
|
------------ |
|
At 31 May 2024 |
1,300,000 |
|
------------ |
|
|
Investment property was valued on an open market basis at 31 December 2024 by the directors.
7.
Debtors
|
31 Dec 24 |
31 May 24 |
|
£ |
£ |
|
Other debtors |
132,694 |
133,008 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
31 Dec 24 |
31 May 24 |
|
£ |
£ |
|
Bank loans and overdrafts |
1,249,814 |
1,249,814 |
|
Social security and other taxes |
5,937 |
3,403 |
|
Other creditors |
345,075 |
282,870 |
|
------------ |
------------ |
|
1,600,826 |
1,536,087 |
|
------------ |
------------ |
|
|
|
9.
Directors' advances, credits and guarantees
Included in current liabilities is a loan from
Mr D Krok
, a director, of £192,591 (May 2024: £162,993). The loan bears no interest and is repayable on demand. Included in current liabilities is a loan from Ms S Krok, a director, of £136,303 (May 2024: £106,705). The loan bears no interest and is repayable on demand.