REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
FOR |
THE JEWELLERY QUARTER BID LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
FOR |
THE JEWELLERY QUARTER BID LIMITED |
THE JEWELLERY QUARTER BID LIMITED (REGISTERED NUMBER: 14124151) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6 |
THE JEWELLERY QUARTER BID LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Blackthorn House |
St Pauls Square |
Birmingham |
B3 1RL |
THE JEWELLERY QUARTER BID LIMITED (REGISTERED NUMBER: 14124151) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
The directors present their report with the financial statements of the company for the period 23 May 2022 to 31 March 2023. |
INCORPORATION |
The company was incorporated on 23 May 2022 and commenced trading on 1 September 2022. |
DIRECTORS |
The directors who have held office during the period from 23 May 2022 to the date of this report are as follows: |
All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting. |
WHAT IS A BUSINESS IMPROVEMENT DISTRICT? |
A Business Improvement District (BID) is a geographically defined area where the business community pool their resources to invest in projects and services that improve the business environment and experiences of visitors. The BID is operated by an independent business-led, not for profit company that is committed to the area's ongoing improvement. The services that the BID delivers are additional to those provided by the local authority, they are not intended to replace them. |
- A BID is funded by a fair and transparent levy on all eligible business occupiers within the BID area. |
- A BID can only be implemented when businesses have voted in a ballot and a majority is achieved by both the number of voters, and the rateable value, of those who vote. |
- A BID can operate for a maximum of five years after which a renewal ballot will need to be conducted. |
- Our aim is to use any local firm, supplier or contractor wherever possible, taking into account value for money. This will ensure that we continue to invest and grow our local economy with the funds we raise. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
THE JEWELLERY QUARTER BID LIMITED (REGISTERED NUMBER: 14124151) |
INCOME STATEMENT |
FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
£ |
INCOME |
Operating expenses |
OPERATING SURPLUS and |
SURPLUS BEFORE TAXATION |
Tax on surplus |
SURPLUS FOR THE FINANCIAL PERIOD |
THE JEWELLERY QUARTER BID LIMITED (REGISTERED NUMBER: 14124151) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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 were approved by the Board of Directors and authorised for issue on |
THE JEWELLERY QUARTER BID LIMITED (REGISTERED NUMBER: 14124151) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
Retained | Total |
earnings | equity |
£ | £ |
Changes in equity |
Total comprehensive income |
Transfer of capital | 154,434 | 154,434 |
Balance at 31 March 2023 |
THE JEWELLERY QUARTER BID LIMITED (REGISTERED NUMBER: 14124151) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 23 MAY 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
The Jewellery Quarter BID Limited is a |
As the company is limited by guarantee and does not have a 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. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
Income is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Income is measures as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Taxation |
Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income and expenses recognised in other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly to equity respectively. |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | TRANSFER OF CAPITAL |
The transfer of capital represents the Business Improvement Levy funds transferred from the previous company operating the Jewellery Quarter Business Improvement District. |