BSE BIDCO Limited 09480444 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is keeping Bury St Edmunds an attractive, vibrant and prosperous place to own a business, live and visit. Digita Accounts Production Advanced 6.30.9574.0 true 09480444 2023-04-01 2024-03-31 09480444 2024-03-31 09480444 core:RetainedEarningsAccumulatedLosses 2024-03-31 09480444 core:CurrentFinancialInstruments 2024-03-31 09480444 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09480444 bus:SmallEntities 2023-04-01 2024-03-31 09480444 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09480444 bus:FilletedAccounts 2023-04-01 2024-03-31 09480444 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09480444 bus:RegisteredOffice 2023-04-01 2024-03-31 09480444 bus:Director1 2023-04-01 2024-03-31 09480444 bus:Director13 2023-04-01 2024-03-31 09480444 bus:Director15 2023-04-01 2024-03-31 09480444 bus:Director20 2023-04-01 2024-03-31 09480444 bus:Director22 2023-04-01 2024-03-31 09480444 bus:Director24 2023-04-01 2024-03-31 09480444 bus:Director27 2023-04-01 2024-03-31 09480444 bus:Director3 2023-04-01 2024-03-31 09480444 bus:Director4 2023-04-01 2024-03-31 09480444 bus:Director8 2023-04-01 2024-03-31 09480444 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 09480444 countries:EnglandWales 2023-04-01 2024-03-31 09480444 2022-04-01 2023-03-31 09480444 2023-03-31 09480444 core:RetainedEarningsAccumulatedLosses 2023-03-31 09480444 core:CurrentFinancialInstruments 2023-03-31 09480444 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09480444

BSE BIDCO Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

BSE BIDCO Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

BSE BIDCO Limited

Company Information

Directors

M Cordell

A J Marshall

N J Horn

B Parkington

S Burton

W Bryant

A Hassell

D Marjoram

S Cook

A M Speed

Registered office

2nd Floor
2 Woolhall Street
Bury St Edmunds
IP33 1LA

Accountants

Jacobs Allen Limited
Chartered Accountants and Chartered Tax Advisers
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

BSE BIDCO Limited

(Registration number: 09480444)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

80,688

38,942

Cash at bank and in hand

 

157,893

240,939

 

238,581

279,881

Creditors: Amounts falling due within one year

6

(22,253)

(13,058)

Net assets

 

216,328

266,823

Reserves

 

Retained earnings

216,328

266,823

Surplus

 

216,328

266,823

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
 

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 8 October 2024 and signed on its behalf by:
 

.........................................
M Cordell
Director

 

BSE BIDCO Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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 £1 towards the assets of the company in the event of liquidation.

The company is a public benefit entity, it's primary objective is to make Bury St. Edmunds an attractive, vibrant and prosperous place for local businesses, residents and visitors. It does not provide a financial return to its members.

The address of its registered office is:
2nd Floor
2 Woolhall Street
Bury St Edmunds
IP33 1LA

These financial statements were authorised for issue by the Board on 8 October 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.

Revenue recognition

Turnover is mainly the levy charge to members for their participation in the BID arrangements, but also represents amounts chargeable, net of value added tax, in respect of the provision of services to members and customers generally.

All income arising from other services made to non BID members is recognised in the period in which the event falls, and that income is held for use in delivering other services that fulfil the company's objectives.

BID levy income is charged to BID members each year of the BID term of five years. At the end of the BID term, any levy income that has not been used to cover the costs of delivering the BID proposals must be returned to the BID members in accordance with the BID regulations 2004. Additional income that has been raised by the company can be carried forward. Levy income is recognised in the accounting period that it is charged except where it is envisaged that the money will not be spent during the BID term. In such circumstances, a liability is recognised to the extent that income has been received but the contractual obligations have not been created.

Any surplus of income recognised as charged but not spent in a period is to be carried forward with reserves to be spent in a future year of the BID term to the extent it is anticipated that it will be required to meet budgeted spending plans during the remainder of the BID term.

 

BSE BIDCO Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specified performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satifisfied is recognised as a liablity.

Tax

There is no corporation tax liability for the year as the company is a non profit making organisation. Year end profits are held and used to fund future costs. Corporation tax is due on any investment income made by the company.

The current income 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.

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.

Trade debtors

Trade debtors are amounts due from customers for 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 year, was 5 (2023 - 3).

 

BSE BIDCO Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Government grants receivable

(11,812)

(5,000)

5

Debtors

Current

2024
£

2023
£

Trade debtors

17,701

16,831

Prepayments

11,964

7,414

Other debtors

51,023

14,697

 

80,688

38,942

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,076

7,826

Taxation and social security

5,092

3,274

Accruals and deferred income

10,581

1,132

Other creditors

3,504

826

22,253

13,058

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,000 (2023 - £36,000).

8

Related party transactions

Summary of transactions with other related parties

Two of the directors M Cordell and W Bryant are also directors with BSE BIDCO (Events) Limited. During the year BSE BIDCO (Events) Limited received further advances of £32,892 from BSE BIDCO Limited where BSE BIDCO Limited had paid invoices on behalf of and loaned money to BSE BIDCO (Events) Limited and also during the period BSE BIDCO (Events) Limited organised events for the company in the sum of £76,893 (2023 - £49,171). As at 31 March 2024, there is a balance owing from BSE BIDCO (Events) Limited which amounts to £43,270 (2023 - £10,378). The loan is considered interst free and repayable on demand.