Next Big Leap Limited - Accounts to registrar (filleted) - small 18.2

Next Big Leap Limited - Accounts to registrar (filleted) - small 18.2

NEXT BIG LEAP LIMITED - Company Information

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REGISTERED NUMBER: 06388862 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

NEXT BIG LEAP LIMITED
NEXT BIG LEAP LIMITED (REGISTERED NUMBER: 06388862)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEXT BIG LEAP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2021







DIRECTORS: Mrs S Patel
Mr B Patel





REGISTERED OFFICE: 4 Midland Street
Phoenix Square
Business Lounge
Leicester
Leicestershire
LE1 1TG





REGISTERED NUMBER: 06388862 (England and Wales)
Page 1
NEXT BIG LEAP LIMITED (REGISTERED NUMBER: 06388862)

BALANCE SHEET
31 OCTOBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,222 3,043

CURRENT ASSETS
Debtors 5 10,400 16,107
Cash at bank and in hand 186,673 136,789
197,073 152,896
CREDITORS
Amounts falling due within one year 6 32,609 30,000
NET CURRENT ASSETS 164,464 122,896
TOTAL ASSETS LESS CURRENT
LIABILITIES
169,686
125,939

PROVISIONS FOR LIABILITIES 992 578
NET ASSETS 168,694 125,361

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 168,692 125,359
168,694 125,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

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NEXT BIG LEAP LIMITED (REGISTERED NUMBER: 06388862)

BALANCE SHEET - continued
31 OCTOBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2022 and were signed on its behalf by:




Mrs S Patel - Director



Mr B Patel - Director


The notes form part of these financial statements

Page 3
NEXT BIG LEAP LIMITED (REGISTERED NUMBER: 06388862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021


1. STATUTORY INFORMATION

Next Big Leap Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue comprises the fair value for the sale of goods excluding value added tax and represents net invoice value less estimated rebates, returns and settlement discounts.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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NEXT BIG LEAP LIMITED (REGISTERED NUMBER: 06388862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2020 - 15,876 15,876
Additions 1,068 2,271 3,339
At 31 October 2021 1,068 18,147 19,215
DEPRECIATION
At 1 November 2020 - 12,833 12,833
Charge for year 43 1,117 1,160
At 31 October 2021 43 13,950 13,993
NET BOOK VALUE
At 31 October 2021 1,025 4,197 5,222
At 31 October 2020 - 3,043 3,043

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 10,400 16,107

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NEXT BIG LEAP LIMITED (REGISTERED NUMBER: 06388862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Taxation 9,698 6,648
VAT 5,554 6,033
Other creditors 1,457 2,086
Accruals and deferred income 15,900 15,233
32,609 30,000

7. RELATED PARTY DISCLOSURES

At the year end the company owed £1,126 (2020 - £1,940) to the directors of the company.

No interest was charged on the above balances.

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