Company Registration Number 11181468 (England and Wales)
BIG WOW MEDIA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2019
PAGES FOR FILING WITH REGISTRAR
BIG WOW MEDIA LIMITED
BALANCE SHEET
AS AT
31 JULY 2019
31 July 2019
- 1 -
2019
£
£
Current assets
1,021
Creditors: amounts falling due within one year
(46,255)
Net current liabilities
(45,234)
Accruals and deferred income
(1,800)
Net liabilities
(47,034)
Capital and reserves
(47,034)
Notes to the financial statements
1
Employees
The average number of persons
,
including directors
,
employed by the company during the period wa
s as follows:
2019
Number
Employees
2
2
Going concern
As at 31 July 2019 the company's balance sheet was in deficit by £47,034, and there were net current liabilities of £45,234. Included within the company's current liabilities at that date was a directors' current account of £29,159 owed to the director, and £9,014 owed to Momenta Marketing Limited, a company also under the common control of the director.
Given that the company's results reflect its development of The Big WOW (What’s On Where) self-service e-commerce advertising platform that enables venues and event organisers to promote the events that they hold, the initial trading period to 31 July 2019 represented phase 1 of technology investment and marketing ahead of being able to develop sales relationships and build revenue. The director therefore believes that the financial position at 31 July 2019 is in line with expectations and is unlikely to have significantly changed at the time of approving these accounts.
The current overall financial position of the company has not materially improved since 31 July 2019. As a consequence the company is expected to remain reliant upon the continued financial support of its director as well as its companies under common control in order to ensure it is able to pay its trading debts, as these fall due within the period of at least the next twelve months from the date of approving these financial statements. The director has confirmed that this will be the case and, as a consequence, she believes the going concern basis of preparing these accounts is justified.
The next stage of the Company's planned development has also been slowed and delayed as a direct consequence of the Coronavirus Pandemic which continues to impact the business community with uncertain consequences at the time of approving these accounts. Whilst the director remains confident that this business will successfully trade through the Pandemic period, she will continue to monitor the risks associated with it. Should she consider that those risks become too great to be able to continue to trade, then the company will cease trading.
BIG WOW MEDIA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2019
31 July 2019
- 2 -
3
Accounting Period
The financial statements cover the period 1 February 2018 to 31 July 2019.
Big WOW Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is Globe House, Eclipse Park, Sittingbourne Road, Maidstone, Kent, ME14 3EN.
For the period ended 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her 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 period in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 14 December 2020
E K Wood
Director
Company Registration Number 11181468