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REGISTERED NUMBER: 02144339 (England and Wales)












Bude Area Tourist Board Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Bude Area Tourist Board Limited (Registered number: 02144339)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Bude Area Tourist Board Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms L Winstanley
P J La Broy
M Hibbard





REGISTERED OFFICE: Bude Visitor Centre
The Crescent
BUDE
Cornwall
EX23 8LE





REGISTERED NUMBER: 02144339 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Bude Area Tourist Board Limited (Registered number: 02144339)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,146 3,220

CURRENT ASSETS
Stocks 51,850 54,354
Debtors 5 2,187 1,545
Cash at bank and in hand 105,657 76,106
159,694 132,005
CREDITORS
Amounts falling due within one year 6 54,407 24,899
NET CURRENT ASSETS 105,287 107,106
TOTAL ASSETS LESS CURRENT LIABILITIES 109,433 110,326

PROVISIONS FOR LIABILITIES 1,036 612
NET ASSETS 108,397 109,714

RESERVES
Income and expenditure account 108,397 109,714
108,397 109,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:



M Hibbard - Director



Ms L Winstanley - Director


Bude Area Tourist Board Limited (Registered number: 02144339)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bude Area Tourist Board Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number is 02144339 and the registered office is Bude Visitor Centre, The Crescent, Bude EX23 8LE.

These financial statements cover a single entity.

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 net sales of goods and services, commissions and membership fees excluding value added tax.
Revenue from the sale of goods and services along with commission is recognised when the event occurs. Membership income is released to the profit and loss account on a monthly basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term whichever is the shorter.

Depreciation has been applied and pro-rated from the month in which the acquisition took place.

Plant & machinery - 33% on cost
Fixtures & fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Net realisable value is based on an estimated selling price less the estimated cost of disposal.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bude Area Tourist Board Limited (Registered number: 02144339)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 9,186 11,252 20,438
Additions 3,581 - 3,581
At 31 December 2023 12,767 11,252 24,019
DEPRECIATION
At 1 January 2023 8,436 8,782 17,218
Charge for year 1,702 953 2,655
At 31 December 2023 10,138 9,735 19,873
NET BOOK VALUE
At 31 December 2023 2,629 1,517 4,146
At 31 December 2022 750 2,470 3,220

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,187 1,545

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 407 415
Taxation and social security 1,028 7,026
Other creditors 52,972 17,458
54,407 24,899

7. RELATED PARTY DISCLOSURES

Any transactions with the Directors are on the same commercial terms as with any other customers.