Bigstream Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02112974

BIGSTREAM LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2020

BIGSTREAM LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2020

	2020		2019
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5	–	8,130
Investments	6	36,156	36,156
		--------	--------
		36,156	44,286

CURRENT ASSETS

Debtors	7	2,318,154	2,188,154
Cash at bank and in hand		1,261	933
		------------	------------
		2,319,415	2,189,087

CREDITORS: amounts falling due within one year	8	1,859,528		1,727,252
		------------		------------
NET CURRENT ASSETS			459,887		461,835
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			496,043		506,121

PROVISIONS	–	693
	---------	---------
NET ASSETS	496,043	505,428
	---------	---------

CAPITAL AND RESERVES

Called up share capital fully paid	19,975	19,975
Capital redemption reserve	2,475	2,475
Profit and loss account	473,593	482,978
	---------	---------
SHAREHOLDERS FUNDS	496,043	505,428
	---------	---------

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 year ending 31 March 2020 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 year 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 .

BIGSTREAM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 9 October 2020 , and are signed on behalf of the board by:

Mr A J Lewis

Director

Company registration number: 02112974

BIGSTREAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2020

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Alfred House, Orion Way, Kettering, Northamptonshire, NN15 6NL.

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.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

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 & Fittings	-	15% reducing balance
Motor Vehicle	-	25% reducing balance

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).

5. TANGIBLE ASSETS

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2019	1,025	34,856	35,881
Disposals	–	( 34,856)	( 34,856)
	-------	--------	--------
At 31 March 2020	1,025	–	1,025
	-------	--------	--------
Depreciation
At 1 April 2019	1,025	26,726	27,751
Disposals	–	( 26,726)	( 26,726)
	-------	--------	--------
At 31 March 2020	1,025	–	1,025
	-------	--------	--------
Carrying amount
At 31 March 2020	–	–	–
	-------	--------	--------
At 31 March 2019	–	8,130	8,130
	-------	--------	--------

6. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 1 April 2019 and 31 March 2020	36,156
	--------
Impairment
At 1 April 2019 and 31 March 2020	–
	--------

Carrying amount
At 31 March 2020	36,156
	--------
At 31 March 2019	36,156
	--------

7. DEBTORS

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,313,429	2,183,429
Other debtors	4,725	4,725
	------------	------------
	2,318,154	2,188,154
	------------	------------

8. CREDITORS: amounts falling due within one year

	2020	2019
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,827,903	1,592,360
Corporation tax	29,025	6,378
Social security and other taxes	–	71
Other creditors	2,600	128,443
	------------	------------
	1,859,528	1,727,252
	------------	------------

9. RELATED PARTY TRANSACTIONS

Advantage has been taken of the exemption conferred by FRS 102 not to disclose transactions with other group companies.