Registration number:
BSE BIDCO Limited
(A company limited by guarantee)
for the Year Ended 31 March 2022
BSE BIDCO Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
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 |
|
Accountants |
|
BSE BIDCO Limited
(Registration number: 09480444)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Reserves |
|||
Retained earnings |
|
|
|
Surplus |
|
|
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 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
......................................... |
BSE BIDCO Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
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:
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
BSE BIDCO Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Profit before tax |
Arrived at after charging/(crediting)
2022 |
2021 |
|
Government grants receivable |
(122,776) |
(43,904) |
Debtors |
Current |
2022 |
2021 |
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
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 £
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.