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ST. PETERS QUARTER DERBY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ST. PETERS QUARTER DERBY LIMITED (REGISTERED NUMBER: 07071824)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ST. PETERS QUARTER DERBY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R J Davies
Mr M J Eyre
Mr C A J Memmott
Ms N D L Peatfield
Miss J F M Sayers
Miss H J Wathall MBE
Mr S L Wildash
Miss K L Collyer





REGISTERED OFFICE: 2nd Floor
12 The Strand
Cathedral Quarter
Derby
Derbyshire
DE1 1BA





REGISTERED NUMBER: 07071824 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

ST. PETERS QUARTER DERBY LIMITED (REGISTERED NUMBER: 07071824)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 100

CURRENT ASSETS
Debtors 5 50,325 59,371
Cash at bank and in hand 170,478 128,610
220,803 187,981
CREDITORS
Amounts falling due within one year 6 108,062 71,166
NET CURRENT ASSETS 112,741 116,815
TOTAL ASSETS LESS CURRENT LIABILITIES 112,741 116,915

RESERVES
Income and expenditure account 112,741 116,915
112,741 116,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 22 July 2024 and were signed on its behalf by:





Miss H J Wathall MBE - Director


ST. PETERS QUARTER DERBY LIMITED (REGISTERED NUMBER: 07071824)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

St. Peters Quarter Derby 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 (£).


At 31 March 2024 there were 47 (2023 - 40) members of the company each of whom has undertaken to contribute an amount not exceeding £1 in the event of the company winding up.

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.

Significant judgements and estimates
Bad debts

In the current and previous period, bad debts in respect of BID levy income have been provided for based upon a percentage applied to the stage of recovery.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company's main source of income is levy on businesses in the St Peters Quarter.

Levy income appears to have dropped significantly in comparison to the prior year however, this is because last year's accounts include income relating to the 2022 financial year. At the time when the 2022 accounts were produced, businesses in the quarter were struggling as a result of the Coronavirus pandemic and it could not be reliably estimated which accounts were going to be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Government grants
Income from government grants, whether capital grants or revenue grants, is recognised when the company has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably.

Where entitlements occur before the income is received, the income is accrued. Where income is received in advance of the company having entitlement to the funds, the income is deferred.

Going concern
The company made a loss of £4,174 for the year ended 31st March 2024 (2023: profit of £39,899). It can be noted that included within current liabilities is deferred income amounting to £35,062 (2023: £nil) which will be taken to the profit and loss account in future years.The Directors have prepared the accounts on a going concern basis which assumes that the company will continue to trade for the foreseeable future. The validity of the assumption is based on the directors' assessment of future cash forecasts and expected income projections.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ST. PETERS QUARTER DERBY LIMITED (REGISTERED NUMBER: 07071824)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 28,360
DEPRECIATION
At 1 April 2023 28,260
Charge for year 100
At 31 March 2024 28,360
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,923 52,286
Other debtors - 1,957
Prepayments 3,402 5,128
50,325 59,371

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 27,628 38,557
VAT 1,328 676
Accruals and deferred income 79,106 31,933
108,062 71,166