Company Registration No. 10539651 (England and Wales)
THINK BIG DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
THINK BIG DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THINK BIG DEVELOPMENTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,256
446
Current assets
Debtors
4
36,021
4,181
Cash at bank and in hand
12,385
28,064
48,406
32,245
Creditors: amounts falling due within one year
5
(32,572)
(23,416)
Net current assets
15,834
8,829
Total assets less current liabilities
29,090
9,275
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
29,089
9,274
Total equity
29,090
9,275
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 February 2021 and are signed on its behalf by:
Mr R Jeffers
Director
Company Registration No. 10539651
THINK BIG DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
1
Accounting policies
Company information
Think Big Developments Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
27 Old Gloucester Street, London, WC1N 3AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the subsidiary qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
The company has taken advantage of related party exemptions under paragraph 33.1A of FRS102 by virtue of Think Big Developments Limited being wholly owned by the parent company J&L Solutions Limited.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Turnover is recognised when goods and services are provided.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
Motor vehicles
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
THINK BIG DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2
(2019 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2020
666
Additions
15,032
At 31 December 2020
15,698
Depreciation and impairment
At 1 January 2020
220
Depreciation charged in the year
2,222
At 31 December 2020
2,442
Carrying amount
At 31 December 2020
13,256
At 31 December 2019
446
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
25,152
1,680
Other debtors
10,869
2,501
36,021
4,181
THINK BIG DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
2,817
183
Trade creditors
9,776
1,534
Amounts owed to group undertakings
3,088
-
Corporation tax
7,433
3,700
Other taxation and social security
3,144
3,834
Other creditors
6,314
14,165
32,572
23,416
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1