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Registration number: 02775034

The Bristol Cultural Development Partnership

(A company limited by guarantee)

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 June 2024

 

The Bristol Cultural Development Partnership

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Bristol Cultural Development Partnership

Company Information

Chairman

S Cook

Directors

J Cave

Prof M Krishnan

S Rolt

Prof J A Squires

I Algar

E Lower

C Cheney

L Barlow

M Griffith

Registered office

Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

Accountants

Burton Sweet Limited
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol
BS48 1UR

 

The Bristol Cultural Development Partnership

(Registration number: 02775034)
Balance Sheet
30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,356

Current assets

 

Debtors

5

-

27,829

Cash at bank and in hand

 

-

599,907

 

-

627,736

Creditors: Amounts falling due within one year

6

-

(96,069)

Net current assets

 

-

531,667

Net assets

 

-

533,023

Reserves

 

Retained earnings

-

533,023

Surplus

 

-

533,023

 

The Bristol Cultural Development Partnership

(Registration number: 02775034)
Balance Sheet
30 June 2024

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
S Cook
Chairman

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Directors intend to apply to strike the company from the register as of 30 June 2024, and consequently, the company is not a going concern. This has however, had minimal impact on the financial statements.

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

Revenue recognition

Turnover comprises grants and donations, sponsorship and income received from cultural activites, excluding VAT.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Donations are accounted for on a receipts basis whilst grants are spread over the period to which they apply.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 15 (2023 - 20).

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

4,676

4,676

Disposals

(825)

(825)

At 30 June 2024

3,851

3,851

Depreciation

At 1 April 2023

3,320

3,320

Charge for the period

1,356

1,356

Eliminated on disposal

(825)

(825)

At 30 June 2024

3,851

3,851

Carrying amount

At 30 June 2024

-

-

At 31 March 2023

1,356

1,356

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

5

Debtors

2024
£

2023
£

Trade debtors

-

5,000

Other debtors

-

22,829

-

27,829

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

23,563

Taxation and social security

-

10,297

Accruals and deferred income

-

62,209

-

96,069

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

7

Related party transactions

Summary of transactions with other related parties

Business West Limited
During the period the company received income, sponsorship and donations of £4,538 (2023
- £6,250) from and incurred payroll, grant and other expenses of £426,209 (2023 - £238,997 )
with Business West Limited, a company in which the directors M Griffith (appointed 3 April
2023) and J Savage (ceased 3 April 2023) held a key management position. The balance
owed to Business West Limited at 30 June 2024 was £2,468 (31 March 2023 - £19,693). An
agreement was made between the company and Business West Limited, that at the end of
the period, Business West would receive the company's remaining funds and would assume
liability for the company's remaining creditors. At the end of the period, the company had a
bank balance of £65,418, and outstanding liabilities of £8,366, which were both transferred to
Business West.

Destination Bristol
During the period the company incurred a grant expense of £5,000 (2023 - £600) with
Destination Bristol. The director J Savage (ceased 3 April 2023) held the key management
position in Destination Bristol. The balance owed by Destination Bristol at 30 June 2024 was
£Nil (31 March 2023 - £Nil).

University of Bristol
During the period the company received sponsorship and donations of £39,667 (2023 -
£38,917) from and incurred a grant expense of £20,000 (2023 - £nil) with the University of
Bristol. The director J Squires held a key management position in the University of Bristol.The
balance owed by the University of Bristol at 30 June was £nil (31 March 2023 - £5,000).

University of the West of England
During the period the company received income sponsorship and donations of £20,833 (2023
- £103,000) from and incurred expenses of £250 (2023 - £Nil) with the University of the West of
England. The director L Barlow held a key management position in the University of the West
of England. The balance owed by University of the West of England at 30 June 2024 was £Nil
(31 March 2023 - £Nil).

 

 

The Bristol Cultural Development Partnership

Notes to the Unaudited Financial Statements
Period from 1 April 2023 to 30 June 2024

Bristol City Council
During the period the company received income sponsorship and donations of £45,160 (2023
- £53,160) from and incurred expenses of £nil (2023 - £5,334) with Bristol City Council. The
director C Cheney holds a key position in Bristol City Council. The balance owed by Bristol
City Council at 30 June 2024 was £Nil (31 March 2023 - £Nil).

Bristol Museums Development Trust
During the period the company incurred a grant expense of £45,000 (2023 - £nil) with Bristol Museums Development Trust. The director C Cheney was a director of Bristol Museums Development Trust until 11 June 2024. The balance owed to Bristol Museums Development Trust at 30 June 2024 was £nil (31 March 2023 - £nil).

During the period the company incurred expenses with the following individuals who were directors and/or held key management positions. M Krishnan, £350 (31 March 2023 - £Nil); S Rolt, £450 (2023 - £Nil); A Kelly after employment ceased, £236 (31 March 2023 - £Nil). The company also incurred expenses of £3,725 (31 March 2023 - £Nil) with M Kelly, spouse of A Kelly. The balance owed to the listed individuals at 30 June 2024 was £Nil (31 March 2023 - £Nil).