Big Bull Limited Filleted accounts for Companies House (small and micro)

false false false false false false false false false true false false false false false false No description of principal activity 2019-03-01 Sage Accounts Production Advanced 2020 - FRS102_2019 1,634,502 863,858 770,644 770,644 xbrli:pure xbrli:shares iso4217:GBP SC223616 2019-03-01 2020-02-29 SC223616 2020-02-29 SC223616 2019-02-28 SC223616 bus:LeadAgentIfApplicable 2019-03-01 2020-02-29 SC223616 bus:Director1 2019-03-01 2020-02-29 SC223616 core:WithinOneYear 2020-02-29 SC223616 core:WithinOneYear 2019-02-28 SC223616 core:ShareCapital 2020-02-29 SC223616 core:ShareCapital 2019-02-28 SC223616 core:SharePremium 2020-02-29 SC223616 core:SharePremium 2019-02-28 SC223616 core:RetainedEarningsAccumulatedLosses 2020-02-29 SC223616 core:RetainedEarningsAccumulatedLosses 2019-02-28 SC223616 core:CostValuation core:Non-currentFinancialInstruments 2020-02-29 SC223616 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2020-02-29 SC223616 core:Non-currentFinancialInstruments 2020-02-29 SC223616 core:Non-currentFinancialInstruments 2019-02-28 SC223616 bus:SmallEntities 2019-03-01 2020-02-29 SC223616 bus:AuditExemptWithAccountantsReport 2019-03-01 2020-02-29 SC223616 bus:FullAccounts 2019-03-01 2020-02-29 SC223616 bus:SmallCompaniesRegimeForAccounts 2019-03-01 2020-02-29 SC223616 bus:PrivateLimitedCompanyLtd 2019-03-01 2020-02-29

COMPANY REGISTRATION NUMBER: SC223616

Big Bull Limited

Filleted Unaudited Financial Statements

29 February 2020

Big Bull Limited

Financial Statements

Year ended 29 February 2020

Contents	Page

Report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

Big Bull Limited

Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Big Bull Limited

Year ended 29 February 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Big Bull Limited for the year ended 29 February 2020, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Big Bull Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Big Bull Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Big Bull Limited and its director for our work or for this report.

It is your duty to ensure that Big Bull Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Big Bull Limited. You consider that Big Bull Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Big Bull Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered accountants

216 West George Street Glasgow G2 2PQ

16 February 2021

Big Bull Limited

Statement of Financial Position

29 February 2020

	2020		2019
Note	£	£	£

Fixed assets

Investments	4		770,644	770,644

Current assets

Cash at bank and in hand	4,530		4,600

Creditors: amounts falling due within one year	5	9,589		9,589
		-------		-------
Net current liabilities			5,059	4,989
			---------	---------
Total assets less current liabilities			765,585	765,655
			---------	---------
Net assets			765,585	765,655
			---------	---------

Capital and reserves

Called up share capital	83,000	83,000
Share premium account	684,391	684,391
Profit and loss account	( 1,806)	( 1,736)
	---------	---------
Shareholders funds	765,585	765,655
	---------	---------

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 29 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 16 February 2021 , and are signed on behalf of the board by:

Mr P T H Lowrie
Director

Company registration number: SC223616

Big Bull Limited

Notes to the Financial Statements

Year ended 29 February 2020

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 2 Dean Path, Edinburgh, EH4 3BA.

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.

Cash & cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investment that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Consolidation

The company 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 company and its subsidiary undertakings comprise a small group.

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.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities 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 joint venture 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 March 2019 and 29 February 2020	1,634,502
	------------
Impairment
At 1 March 2019 and 29 February 2020	863,858
	------------

Carrying amount
At 29 February 2020	770,644
	------------
At 28 February 2019	770,644
	------------

The company owns 1 0 0% of the share capital of Granite Edge Limited, a company registered in Scotland which operates as a property investment company. The financial position of Granite Edge Limited as at 31st May 2019 was a loss of £20,085 (2018: £42,352 Profit) and capital and reserves of £654,664 (2018: £674,749). The results for the year to 31st May 2020 will be reported in the accounts of Big Bull Limited for the year to 29th February 2021.

5. Creditors: amounts falling due within one year

	2020	2019
	£	£
Other creditors	9,589	9,589
	-------	-------

6. Director's advances, credits and guarantees

The company was under the control of Mr P T H Lowrie throughout the current and previous year. At the 29th February 2020 the company owed Mr Lowrie £9,039 (2019: £9,039). This loan is interest free and has no fixed date for repayment.