REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
YORKSHIRE COAST BID LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
YORKSHIRE COAST BID LTD |
YORKSHIRE COAST BID LTD (REGISTERED NUMBER: 11820859) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
YORKSHIRE COAST BID LTD |
COMPANY INFORMATION |
for the year ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
YORKSHIRE COAST BID LTD (REGISTERED NUMBER: 11820859) |
STATEMENT OF FINANCIAL POSITION |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
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 |
YORKSHIRE COAST BID LTD (REGISTERED NUMBER: 11820859) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Yorkshire Coast Bid Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. |
Critical judgements in applying the company's policies |
The management consider that no significant judgements have had to be made by management in preparing these financial statements. |
Critical accounting estimates and assumptions |
Provision against bad and doubtful amounts receivable |
Trade and other debtors are reviewed on a line by line basis at each financial period end. Provision against debtors, which is netted off against the debtors to which it relates, is made where management have specific reason to believe that the debtor may not be fully or partly recoverable. |
The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover comprises the fair value of levy charges raised on businesses within the BID area, and other voluntary contributions received from local businesses and individuals. Turnover is shown net of value added tax. |
Tangible fixed assets |
Depreciation is provided at the relevant rates in order to write off each asset over the remaining life of the initial BID contract to July 2024. |
Government grants |
Grants are recognised using the accruals model. Revenue grants are recognised as other operating income on a systematic basis over the period in which the related costs for which the grants are intended to compensate are so recognised. Grants receivable as compensation for expenses or losses already incurred, or for the purpose of receiving immediate financial support, are recognised in other operating income in the period in which they become receivable. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties. |
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method. |
YORKSHIRE COAST BID LTD (REGISTERED NUMBER: 11820859) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date. |
The principal activities of the company are outside the scope for corporation tax purposes. |
Pension costs and other post-retirement benefits |
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate. |
Going concern |
The directors have considered the financial resources and commitments of the company and concluded that they have sufficient resources to meet liabilities as they fall due. This assessment is made on the basis of the net asset position and healthy bank balance of the company at the reporting date. The directors therefore consider it appropriate to prepare the financial statements on the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
YORKSHIRE COAST BID LTD (REGISTERED NUMBER: 11820859) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2024 |
7. | OTHER FINANCIAL COMMITMENTS |
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £nil (2023 - £318.071). |