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Registered number: 02972167










B.D.A. (INITIATIVES) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024



 
B.D.A. (INITIATIVES) LIMITED
REGISTERED NUMBER: 02972167

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
12,145
32,059

Cash at bank and in hand
 5 
216,376
258,247

  
228,521
290,306

Creditors: amounts falling due within one year
 6 
(228,519)
(290,304)

Net current assets
  
 
 
2
 
 
2

Total assets less current liabilities
  
2
2

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
  
2
2

  
2
2


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M M Catterson
Director

Date: 6 November 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
B.D.A. (INITIATIVES) LIMITED
 

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

1.


General information

B.D.A. (Initiatives) Limited is a private company, limited by shares, domiciled in England and Wales, registration number 02972167. The registered office is 1 Friar Street, Reading, England, RG1 1DA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of British Dyslexia Association as at 31 March 2024 and these financial statements may be obtained from 1 Friar Street, Reading, England, RG1 1DA.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
B.D.A. (INITIATIVES) LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
B.D.A. (INITIATIVES) LIMITED
 

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

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Interest receivable

2024
2023
£
£


Other interest receivable
2,070
268

2,070
268


4.


Debtors

2024
2023
£
£


Trade debtors
8,645
27,759

Prepayments and accrued income
3,500
4,300

12,145
32,059



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
216,376
258,247

216,376
258,247


Page 4

 
B.D.A. (INITIATIVES) LIMITED
 

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,095
5,700

Amounts owed to group undertakings
183,693
193,480

Other taxation and social security
12,143
12,154

Accruals and deferred income
29,588
78,970

228,519
290,304



7.


Related party transactions

The  Company  has  taken  advantage  of  Section  33.1A  of  FRS  102  to  not  disclose  information  on transactions entered into between 100% owned group companies.


8.


Controlling party

The ultimate parent undertaking of the Company is the British Dyslexia Association, a company limited by guarantee, which is registered in England and owns 100% of the issued share capital of B.D.A. (Initiatives) Limited. 


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 15 November 2024 by Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.


Page 5