Company Registration No. 11663531 (England and Wales)
Discover Twickenham BID Limited
Unaudited accounts
for the year ended 28 February 2023
Discover Twickenham BID Limited
Unaudited accounts
Contents
Discover Twickenham BID Limited
Company Information
for the year ended 28 February 2023
Directors
Kevin Stuart Jones
Dr Antimos Ouzounoglou
Stuart Sandys
Maja Klaudia Lubkowska
Ricardo Stanley Garcia
Fiona Oakley
Marie Sandrine Singh
Philip Rodney Giesler
William Vickery Alexander
Company Number
11663531 (England and Wales)
Registered Office
16 West Barnes Lane
London
SW20 0BU
Accountants
Business Clan Ltd
16 West Barnes Lane
West Wimbledon
London
SW20 0BU
Discover Twickenham BID Limited
Statement of financial position
as at 28 February 2023
Cash at bank and in hand
113,884
44,388
Creditors: amounts falling due within one year
(30,107)
(19,274)
Net current assets
87,964
47,833
Fair value reserve
33,000
33,000
Profit and loss account
56,255
15,428
Members' funds
89,255
48,428
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by
Kevin Stuart Jones
Director
Company Registration No. 11663531
Discover Twickenham BID Limited
Notes to the Accounts
for the year ended 28 February 2023
Discover Twickenham BID Limited is a private company, limited by guarantee, registered in England and Wales, registration number 11663531. The registered office is 16 West Barnes Lane, London, SW20 0BU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 28 February 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Included in total reserves is a reserve ring-fenced for the BID renewal process which takes place every 3 years. For the purposes of these accounts the BID Renewal Reserve is called the Fair Value Reserve and stands at £33,000.
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.
In the year to 28 February 2023 £11,000 was paid towards the BID renewal process and the BID Renewal Reserve was topped up to £33,000.
Discover Twickenham BID Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Total
5
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
6
Average number of employees
During the year the average number of employees was 1 (2022: 0).