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REGISTERED NUMBER: 10543018 (England and Wales)

























Audited Financial Statements for the Year Ended 31 March 2024

for

Stockport Town Centre Business
Improvement District (BID) Ltd

Stockport Town Centre Business
Improvement District (BID) Ltd (Registered number: 10543018)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stockport Town Centre Business
Improvement District (BID) Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R G Owen
M Lamont
Miss C L Stott
P C Kelsall
C T Wood
M E Healy





REGISTERED OFFICE: Suite G1.3 Stok
43-59 Prince's Street
Stockport
SK1 1RY





REGISTERED NUMBER: 10543018 (England and Wales)





AUDITORS: Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG

Stockport Town Centre Business
Improvement District (BID) Ltd (Registered number: 10543018)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 35,578 44,213
Cash at bank 77,811 86,004
113,389 130,217
CREDITORS
Amounts falling due within one
year

5

53,718

40,341
NET CURRENT ASSETS 59,671 89,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,671

89,876

RESERVES
Income and expenditure account 59,671 89,876
59,671 89,876

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 27 November 2024 and were signed on its behalf by:





R G Owen - Director


Stockport Town Centre Business
Improvement District (BID) Ltd (Registered number: 10543018)

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

1. STATUTORY INFORMATION

Stockport Town Centre Business Improvement District (BID) Ltd ("the Company") is a private limited company limited by guarantee, incorporated in England & Wales.

The address of its registered office and principal place of business is Suite G1.3 Stok, 43-59 Prince's Street, Stockport, SK1 1RY.The company's registered number is 10543018.

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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and that 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.

Levy income comprises a set percentage of business rates receivable from business locations in the BID area, subject to a fixed sum, in connection with the promotion of Stockport Town Centre, exclusive of VAT.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third party loans and loans to related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Stockport Town Centre Business
Improvement District (BID) Ltd (Registered number: 10543018)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pensions
Defined contribution pension plan.

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Cash
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.

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

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

Interest Income
Interest income is recognised in the consolidated statement of comprehensive income using the effective interest method.

Holiday Pay Accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,592 7,209
Other debtors 31,986 37,004
35,578 44,213

Stockport Town Centre Business
Improvement District (BID) Ltd (Registered number: 10543018)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 15,396 15,905
Taxation and social security 10 -
Other creditors 38,312 24,436
53,718 40,341

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 6,242 2,500

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Besant-Roberts (Senior Statutory Auditor)
for and on behalf of Hurst Accountants Limited

8. ULTIMATE CONTROLLING PARTY

The company is ultimately accountable to the levy paying businesses in the district and therefore these businesses, as a body, are considered to be the controlling party.

9. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital.