| Bigwig Advisory Limited |
| Registered number: 07335698 |
| Balance Sheet |
| as at 31 July 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,526 |
|
|
1,696 |
|
| Current assets |
| Debtors |
4 |
|
22,051 |
|
|
34,814 |
| Investments held as current assets |
|
|
250,509 |
|
|
224,435 |
| Cash at bank and in hand |
|
|
267,143 |
|
|
104,581 |
|
|
|
539,703 |
|
|
363,830 |
|
| Creditors: amounts falling due within one year |
5 |
|
(75,371) |
|
|
(55,540) |
|
| Net current assets |
|
|
|
464,332 |
|
|
308,290 |
|
| Total assets less current liabilities |
|
|
|
465,858 |
|
|
309,986 |
|
| Provisions for liabilities |
|
|
|
(290) |
|
|
(339) |
|
| Net assets |
|
|
465,568 |
|
|
309,647 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
465,468 |
|
|
309,547 |
|
| Shareholders' funds |
|
|
|
465,568 |
|
|
309,647 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The statement of income and retained earnings has not been delivered to the Registrar of Companies. |
|
|
|
| …………………………………… |
| S B Withey |
| Director |
| Approved by the board on 23 January 2018 |
|
| Bigwig Advisory Limited |
| Notes to the Accounts |
| for the year ended 31 July 2017 |
|
|
| 1 |
Accounting policies |
|
|
The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied: |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, Section 1A (small entities). There have been no material departures from that standard. |
|
|
Transition to FRS 102 |
|
These accounts are the first that comply with FRS 102 Section 1A (small entities). The date of transition was 1 August 2015. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
10% on reducing balance |
|
|
Investments |
|
Investments are measured at fair value. Changes in fair value are included in the statement of income and retained earnings. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
| £ |
|
Cost |
|
At 1 August 2016 |
2,258 |
|
At 31 July 2017 |
2,258 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2016 |
562 |
|
Charge for the year |
170 |
|
At 31 July 2017 |
732 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2017 |
1,526 |
|
At 31 July 2016 |
1,696 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
- |
|
7,739 |
|
Other debtors |
22,051 |
|
27,075 |
|
|
|
|
|
|
22,051 |
|
34,814 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Corporation Tax |
33,841 |
|
38,947 |
|
Other taxes and social security costs |
24,982 |
|
11,191 |
|
Other creditors |
16,548 |
|
5,402 |
|
|
|
|
|
|
75,371 |
|
55,540 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Bigwig Advisory Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP. |
|
|
| 7 |
Explanation of transition |
|
|
The transition to FRS 102 Section 1A (small entities) has led to the following differences between equity and profit determined in accordance with the previous financial reporting framework and equity and profit determined in accordance with FRS 102. |
|
|
|
|
|
|
|
|
2016 |
| £ |
|
Increase in equity |
|
Fair value adjustments on investments included in profit and loss account |
24,412 |
|
|
|
|
|
|
|
|
|
|
Increase in profit for the financial year |
|
Fair value adjustments on investments included in profit and loss account |
24,412 |
