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REGISTERED NUMBER: 10344321 (England and Wales)











Financial Statements

for the Year Ended 28 February 2023

for

Hemel Hempstead Business Improvement
District Limited

Hemel Hempstead Business Improvement
District Limited (Registered number: 10344321)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Hemel Hempstead Business Improvement
District Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: H N Mwanza
J R Doe
K Brammer





REGISTERED OFFICE: 1 Woodbridge Road
Ipswich
Suffolk
IP4 2EA





REGISTERED NUMBER: 10344321 (England and Wales)





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

Hemel Hempstead Business Improvement
District Limited (Registered number: 10344321)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 642 1,272

CURRENT ASSETS
Debtors 5 25,335 34,390
Cash at bank 81,288 208,263
106,623 242,653
CREDITORS
Amounts falling due within one year 6 5,042 134,006
NET CURRENT ASSETS 101,581 108,647
TOTAL ASSETS LESS CURRENT LIABILITIES 102,223 109,919

RESERVES
BID renewal reserve 7 - 40,000
Income and expenditure account 7 102,223 69,919
102,223 109,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:




H N Mwanza - Director


Hemel Hempstead Business Improvement
District Limited (Registered number: 10344321)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Hemel Hempstead Business Improvement District Limited 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 annual levy payments received from businesses in the Hemel Hempstead Business Improvement District, voluntary contributions and other income generated in the course of promoting Hemel Hempstead Town 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.

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

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.

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.

Hemel Hempstead Business Improvement
District Limited (Registered number: 10344321)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 1,890
DEPRECIATION
At 1 March 2022 618
Charge for year 630
At 28 February 2023 1,248
NET BOOK VALUE
At 28 February 2023 642
At 28 February 2022 1,272

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 9,131
Other debtors 25,335 25,259
25,335 34,390

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 90 86
Other creditors 4,952 133,920
5,042 134,006

Hemel Hempstead Business Improvement
District Limited (Registered number: 10344321)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

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

At 1 March 2022 69,919 40,000 109,919
Deficit for the year (7,696 ) - (7,696 )
Transfer from BID renewal
reserve 40,000 (40,000 ) -
At 28 February 2023 102,223 - 102,223

8. 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.