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REGISTERED NUMBER: 11082503 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

FOR

BID LEICESTER LTD

BID LEICESTER LTD (REGISTERED NUMBER: 11082503)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BID LEICESTER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTORS: Mr R M Osborn
Mr C J Stafford
Mrs J J Tallack
Mr A R Fraser
Ms S E Thomson
Ms S Harrison
Mr S Hagger
Mr M L Pearson





REGISTERED OFFICE: St Martins House
7 Peacock Lane
Leicester
Leicestershire
LE1 5PZ





REGISTERED NUMBER: 11082503 (England and Wales)





ACCOUNTANTS: Ballams
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

BID LEICESTER LTD (REGISTERED NUMBER: 11082503)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,366 6,733
Tangible assets 5 990 313
4,356 7,046

CURRENT ASSETS
Debtors 6 36,506 123,726
Cash at bank 319,505 212,905
356,011 336,631
CREDITORS
Amounts falling due within one year 7 41,415 70,931
NET CURRENT ASSETS 314,596 265,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,952

272,746

RESERVES
BID renewal reserve 9 40,000 30,000
Income and expenditure account 9 278,952 242,746
MEMBERS' FUNDS 318,952 272,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BID LEICESTER LTD (REGISTERED NUMBER: 11082503)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2022 and were signed on its behalf by:





Mr A R Fraser - Director


BID LEICESTER LTD (REGISTERED NUMBER: 11082503)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1. STATUTORY INFORMATION

BID Leicester Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents levy payments received from businesses in the Leicester Business Improvement District, voluntary contributions and other income generated in the course of promoting Leicester city centre.

Levy payments are recognised on a straight line basis over the year to which they relate with any necessary adjustments being made through deferred income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

BID LEICESTER LTD (REGISTERED NUMBER: 11082503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and bank facilities.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Going concern
The current term of the BID comes to an end in January 2023. In June 2022 eligible businesses will be invited to take part in a BID ballot which, if successful, will renew the BID term for another five years. Upon renewal the BID will seek to deliver the improvements and services outlined in the BID Leicester Business Plan 2023-28.

Should the BID term not be renewed, the company will begin the process of closing down its operations.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 February 2021
and 31 January 2022 10,100
AMORTISATION
At 1 February 2021 3,367
Amortisation for year 3,367
At 31 January 2022 6,734
NET BOOK VALUE
At 31 January 2022 3,366
At 31 January 2021 6,733

BID LEICESTER LTD (REGISTERED NUMBER: 11082503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2021 5,081
Additions 870
At 31 January 2022 5,951
DEPRECIATION
At 1 February 2021 4,768
Charge for year 193
At 31 January 2022 4,961
NET BOOK VALUE
At 31 January 2022 990
At 31 January 2021 313

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 15,275 750
Other debtors 21,231 122,976
36,506 123,726

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other creditors 41,415 70,931

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 11,000 11,000
Between one and five years 7,333 18,333
18,333 29,333

BID LEICESTER LTD (REGISTERED NUMBER: 11082503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

9. RESERVES
Income
and BID
expenditure renewal
account reserve Totals
£    £    £   

At 1 February 2021 242,746 30,000 272,746
Surplus for the year 46,206 46,206
Transfer to BID renewal reserve (10,000 ) 10,000 -
At 31 January 2022 278,952 40,000 318,952

A transfer is made each year from the surplus on the income and expenditure account to the BID renewal reserve. This is done to ensure sufficient funds are available to facilitate the BID renewal process at the end of the current BID term.

10. LIMITED BY GUARANTEE

The company is limited by guarantee. Each member of the company under clause 3 of the Articles of Association has agreed to contribute up to £1 in the event of a winding up.