BSE BIDCO Limited 09480444 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is keeping Bury St Edmunds an attractive, vibrant and prosperous place to own a business, live and visit. Digita Accounts Production Advanced 6.30.9574.0 true 09480444 2021-04-01 2022-03-31 09480444 2022-03-31 09480444 core:RetainedEarningsAccumulatedLosses 2022-03-31 09480444 core:CurrentFinancialInstruments 2022-03-31 09480444 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09480444 bus:SmallEntities 2021-04-01 2022-03-31 09480444 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 09480444 bus:FullAccounts 2021-04-01 2022-03-31 09480444 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 09480444 bus:RegisteredOffice 2021-04-01 2022-03-31 09480444 bus:Director1 2021-04-01 2022-03-31 09480444 bus:Director10 2021-04-01 2022-03-31 09480444 bus:Director12 2021-04-01 2022-03-31 09480444 bus:Director13 2021-04-01 2022-03-31 09480444 bus:Director15 2021-04-01 2022-03-31 09480444 bus:Director20 2021-04-01 2022-03-31 09480444 bus:Director21 2021-04-01 2022-03-31 09480444 bus:Director24 2021-04-01 2022-03-31 09480444 bus:Director25 2021-04-01 2022-03-31 09480444 bus:Director26 2021-04-01 2022-03-31 09480444 bus:Director3 2021-04-01 2022-03-31 09480444 bus:Director4 2021-04-01 2022-03-31 09480444 bus:Director5 2021-04-01 2022-03-31 09480444 bus:Director8 2021-04-01 2022-03-31 09480444 bus:CompanyLimitedByGuarantee 2021-04-01 2022-03-31 09480444 countries:EnglandWales 2021-04-01 2022-03-31 09480444 2020-04-01 2021-03-31 09480444 2021-03-31 09480444 core:RetainedEarningsAccumulatedLosses 2021-03-31 09480444 core:CurrentFinancialInstruments 2021-03-31 09480444 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 09480444

BSE BIDCO Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

BSE BIDCO Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

BSE BIDCO Limited

Company Information

Directors

M Cordell

A J Marshall

N J Horn

B Peters

B Parkington

TL Crittenden

C Hailstone

S Burton

W Bryant

A Hassell

M Parslow

A M Speed

F Bovill

C A Boggis

Registered office

2nd Floor
2 Woolhall Street
Bury St Edmunds
IP33 1LA

Accountants

Jacobs Allen Limited
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

BSE BIDCO Limited

(Registration number: 09480444)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Current assets

 

Debtors

5

31,200

70,142

Cash at bank and in hand

 

280,403

149,071

 

311,603

219,213

Creditors: Amounts falling due within one year

6

(14,618)

(34,548)

Net assets

 

296,985

184,665

Reserves

 

Retained earnings

296,985

184,665

Surplus

 

296,985

184,665

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 Income and Expenditure has been taken.

 

Approved and authorised by the Board on 26 July 2022 and signed on its behalf by:
 

.........................................
M Cordell
Director

 

BSE BIDCO Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The company's primary objective is to provide services for the general public, community or social benefit and where any equity is provided with a view to supporting the company's primary objectives rather than with a view to providing financial return to members.

The address of its registered office is:
2nd Floor
2 Woolhall Street
Bury St Edmunds
IP33 1LA

These financial statements were authorised for issue by the Board on 26 July 2022.

2

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover is mainly the levy charge to members for their participation in the BID arrangements, but also represents amounts chargeable, net of value added tax, in respect of the provision of services to members and customers generally.

All income arising from other services made to non BID members is recognised in the period in which the event falls, and that income is held for use in delivering other services that fulfil the company's objectives.

BID levy income is charged to BID members each year of the BID term of five years. At the end of the BID term, any levy income that has not been used to cover the costs of delivering the BID proposals must be returned to the BID members in accordance with the BID regulations 2004. Additional income that has been raised by the company can be carried forward. Levy income is recognised in the accounting period that it is charged except where it is envisaged that the money will not be spent during the BID term. In such circumstances, a liability is recognised to the extent that income has been received but the contractual obligations have not been created.

Any surplus of income recognised as charged but not spent in a period is to be carried forward with reserves to be spent in a future year of the BID term to the extent it is anticipated that it will be required to meet budgeted spending plans during the remainder of the BID term.

 

BSE BIDCO Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specified performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satifisfied is recognised as a liablity.

Tax

There is no corporation tax liability for the year as the company is a non profit making organisation. Year end profits are held and used to fund future costs. Corporation tax is due on any investment income made by the company and no such income has arisen this year.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2021 - 3).

 

BSE BIDCO Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Government grants receivable

(122,776)

(43,904)

5

Debtors

Current

2022
£

2021
£

Trade debtors

23,914

60,845

Prepayments

2,786

1,906

Other debtors

4,500

7,391

 

31,200

70,142

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

2,793

8,563

Taxation and social security

8,289

22,354

Accruals and deferred income

2,718

2,828

Other creditors

818

803

14,618

34,548

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £36,000 (2021 - £48,000).

8

Related party transactions

Summary of transactions with other related parties

Two of the directors M Cordell and W Bryant are also directors with BSE BIDCO (Events) Limited. During the year BSE BIDCO (Events) Limited repaid £2,618 of the money owing to BSE BIDCO Limited where BSE BIDCO Limited had previously paid invoices on behalf of and loaned money to BSE BIDCO (Events) Limited and also during the period BSE BIDCO (Events) Limited charged the company £58,008 for events expenditure. As at 31 March 2022, there is a balance owed which amounts to £2,500 (2021 - £5,118). The loan is considered interest free and repayable on demand.