Company Registration No. 10539651 (England and Wales)
THINK BIG DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
THINK BIG DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
THINK BIG DEVELOPMENTS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
446
7,350
Current assets
Debtors
4
4,181
8,897
Cash at bank and in hand
28,064
5,828
32,245
14,725
Creditors: amounts falling due within one year
5
(23,416)
(36,027)
Net current assets/(liabilities)
8,829
(21,302)
Total assets less current liabilities
9,275
(13,952)
Creditors: amounts falling due after more than one year
6
-
(25,355)
Net assets/(liabilities)
9,275
(39,307)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
9,274
(39,308)
Total equity
9,275
(39,307)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 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.
T
he 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.
THINK BIG DEVELOPMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2019
31 December 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 February 2020 and are signed on its behalf by:
Mr R Jeffers
Director
Company Registration No. 10539651
THINK BIG DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
1
Accounting policies
Company information
Think Big Developments Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
27 Old Gloucester Street, London, WC1N 3AX.
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 a
mounts
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.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the subsidiary qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
The company has taken advantage of related party exemptions under paragraph 33.1A of FRS102 by virtue of Think Big Developments Limited being wholly owned by the parent company J&L Solutions Limited.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Turnover is recognised when goods and services are provided.
1.3
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:
Computers
Motor vehicles
20% straight line
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
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
THINK BIG DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2019
12,250
Additions
666
Disposals
(12,250)
At 31 December 2019
666
Depreciation and impairment
At 1 January 2019
4,900
Depreciation charged in the year
220
Eliminated in respect of disposals
(4,900)
At 31 December 2019
220
Carrying amount
At 31 December 2019
446
At 31 December 2018
7,350
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
1,680
7,228
Amounts owed by group undertakings
-
114
Other debtors
2,501
1,555
4,181
8,897
THINK BIG DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
183
8,943
Trade creditors
1,534
3,543
Corporation tax
3,700
-
Other taxation and social security
3,834
596
Other creditors
14,165
22,945
23,416
36,027
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
-
18,405
Other creditors
-
6,950
-
25,355
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1