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REGISTERED NUMBER: 11820859 (England and Wales)















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: Mrs M Y Driffield
B T Gilligan
J D Harding
A M Coltman
E C Rowe-Evans
Cllr A Handley
N A Harne
J B O Brookfield
J Nightingale





REGISTERED OFFICE: c/o FRP Advisory Trading Limited
Minerva
East Parade
Leeds
LS1 5PS





REGISTERED NUMBER: 11820859 (England and Wales)

YORKSHIRE COAST BID LTD (REGISTERED NUMBER: 11820859)

STATEMENT OF FINANCIAL POSITION
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 60,914

CURRENT ASSETS
Debtors 5 16,963 503,144
Cash at bank 252,869 392,501
269,832 895,645
CREDITORS
Amounts falling due within one year 6 75,641 60,575
NET CURRENT ASSETS 194,191 835,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

194,191

895,984

RESERVES
Income and expenditure account 194,191 895,984
194,191 895,984

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 2 October 2024 and were signed on its behalf by:




E C Rowe-Evans - Director



A M Coltman - Director


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 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 (£).


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
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 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 111,143 5,555 116,698
Disposals (111,143 ) (5,555 ) (116,698 )
At 31 July 2024 - - -
DEPRECIATION
At 1 August 2023 51,685 4,099 55,784
Charge for year 51,330 1,456 52,786
Eliminated on disposal (103,015 ) (5,555 ) (108,570 )
At 31 July 2024 - - -
NET BOOK VALUE
At 31 July 2024 - - -
At 31 July 2023 59,458 1,456 60,914

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,462 477,315
Other debtors 15,501 25,829
16,963 503,144

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 440 191
Taxation and social security 6,197 -
Other creditors 69,004 60,384
75,641 60,575

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).