Registration number:
Big Dragon Ltd
for the Year Ended 31 October 2019
Big Dragon Ltd
Contents
Company Information |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Big Dragon Ltd
Company Information
Director |
H K W Lee |
Registered office |
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Accountants |
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Big Dragon Ltd
(Registration number: 07380704)
Statement of Financial Position as at 31 October 2019
Note |
2019 |
2018 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Comprehensive Income has been taken.
Approved and authorised by the
H K W Lee
.........................
Director
Big Dragon Ltd
Statement of Changes in Equity for the Year Ended 31 October 2019
Share capital |
Profit and loss account |
Total |
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At 1 November 2018 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 October 2019 |
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Share capital |
Profit and loss account |
Total |
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At 1 November 2017 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 October 2018 |
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Big Dragon Ltd
Notes to the Financial Statements for the Year Ended 31 October 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A small entities ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the Director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates. |
Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers, excluding value added tax and other sales taxes.
Tangible assets
Property, plant and equipment under cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes directly attributable incremental costs incurred in their acquisition and installation.
Big Dragon Ltd
Notes to the Financial Statements for the Year Ended 31 October 2019
Depreciation
Depreciation is charged 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:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance |
Land and buildings |
over the remianing life of the lease |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Pension
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payments obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Big Dragon Ltd
Notes to the Financial Statements for the Year Ended 31 October 2019
Debtors |
2019 |
2018 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Trade creditors |
- |
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Taxation and social security |
- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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4 |
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4 |