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Registration number: 06809150

Bed and Breakfast Association Ltd

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the year ended 29 February 2024

 

Bed and Breakfast Association Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Bed and Breakfast Association Ltd

(Registration number: 06809150)
Statement of Financial Position
29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

221

458

Current assets

 

Debtors

5

2,559

3,406

Cash at bank and in hand

 

15,948

26,715

 

18,507

30,121

Creditors: Amounts falling due within one year

6

(3,315)

(2,460)

Net current assets

 

15,192

27,661

Net assets

 

15,413

28,119

Reserves

 

Retained earnings

15,413

28,119

Surplus

 

15,413

28,119

For the financial year ending 29 February 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 20 November 2024 and signed on its behalf by:
 

 

Bed and Breakfast Association Ltd

(Registration number: 06809150)
Statement of Financial Position
29 February 2024

.........................................
D J Weston
Director

 

Bed and Breakfast Association Ltd

Notes to the Unaudited Financial Statements
for the year ended 29 February 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:
Belfry House
Batts Field
Bruton
Somerset
BA10 0DX

These financial statements were authorised for issue by the Board on 20 November 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 financial statements have been prepared on a going concern basis.

 

Bed and Breakfast Association Ltd

Notes to the Unaudited Financial Statements
for the year ended 29 February 2024

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

over 2 - 5 years

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 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.

 

Bed and Breakfast Association Ltd

Notes to the Unaudited Financial Statements
for the year ended 29 February 2024

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Bed and Breakfast Association Ltd

Notes to the Unaudited Financial Statements
for the year ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

1,187

1,187

At 29 February 2024

1,187

1,187

Depreciation

At 1 March 2023

729

729

Charge for the year

237

237

At 29 February 2024

966

966

Carrying amount

At 29 February 2024

221

221

At 28 February 2023

458

458

5

Debtors

Current

2024
£

2023
£

Other debtors

2,559

3,406

 

2,559

3,406

 

Bed and Breakfast Association Ltd

Notes to the Unaudited Financial Statements
for the year ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

397

Taxation and social security

-

313

Accruals and deferred income

3,292

1,646

Other creditors

23

104

3,315

2,460

7

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Repayments by director
£

At 29 February 2024
£

D J Weston

Directors loan account

3,406

(2,019)

1,387

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

D J Weston

Directors loan account

-

3,406

3,406