Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsefalseThe principal activity of the company is to transform Leeds City Centre and bring tangible results through increased investment for the city.3132falsetrue 09063015 2023-04-01 2024-03-31 09063015 2022-04-01 2023-03-31 09063015 2024-03-31 09063015 2023-03-31 09063015 c:Director1 2023-04-01 2024-03-31 09063015 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 09063015 d:Buildings d:LongLeaseholdAssets 2024-03-31 09063015 d:Buildings d:LongLeaseholdAssets 2023-03-31 09063015 d:PlantMachinery 2023-04-01 2024-03-31 09063015 d:PlantMachinery 2024-03-31 09063015 d:PlantMachinery 2023-03-31 09063015 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09063015 d:FurnitureFittings 2023-04-01 2024-03-31 09063015 d:FurnitureFittings 2024-03-31 09063015 d:FurnitureFittings 2023-03-31 09063015 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09063015 d:OfficeEquipment 2023-04-01 2024-03-31 09063015 d:OfficeEquipment 2024-03-31 09063015 d:OfficeEquipment 2023-03-31 09063015 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09063015 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09063015 d:OtherPropertyPlantEquipment 2024-03-31 09063015 d:OtherPropertyPlantEquipment 2023-03-31 09063015 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09063015 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09063015 d:CurrentFinancialInstruments 2024-03-31 09063015 d:CurrentFinancialInstruments 2023-03-31 09063015 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09063015 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09063015 d:RetainedEarningsAccumulatedLosses 2024-03-31 09063015 d:RetainedEarningsAccumulatedLosses 2023-03-31 09063015 c:FRS102 2023-04-01 2024-03-31 09063015 c:Audited 2023-04-01 2024-03-31 09063015 c:FullAccounts 2023-04-01 2024-03-31 09063015 c:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 09063015 d:WithinOneYear 2024-03-31 09063015 d:WithinOneYear 2023-03-31 09063015 d:BetweenOneFiveYears 2024-03-31 09063015 d:BetweenOneFiveYears 2023-03-31 09063015 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09063015 2 2023-04-01 2024-03-31 09063015 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09063015










LEEDS BID LIMITED
(A company limited by guarantee)










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LEEDS BID LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 09063015

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
69,102
83,368

  
69,102
83,368

Current assets
  

Debtors: amounts falling due within one year
 6 
1,934,292
436,605

Cash at bank and in hand
 7 
145,367
853,201

  
2,079,659
1,289,806

Creditors: amounts falling due within one year
 8 
(2,123,873)
(382,632)

Net current (liabilities)/assets
  
 
 
(44,214)
 
 
907,174

Total assets less current liabilities
  
24,888
990,542

  

Net assets
  
24,888
990,542


Capital and reserves
  

Profit and loss account
  
24,888
990,542

  
24,888
990,542


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 income and retained earnings 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: 




................................................
Ms T Lancaster
Director

Date: 20 December 2024

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
LEEDS BID LIMITED

(A company limited by guarantee)
 

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

1.


General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 104 Briggate, Leeds, West Yorkshire, LS1 6BG.
The principal activity of the company is to transform Leeds City Centre and bring tangible results through increased investment for the City.

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 judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months.The BID has been successfully renewed for a five year period ensuring that Levy income will be received into the company until at least 31 March 2030.
As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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

 
LEEDS BID LIMITED

(A company limited by guarantee)
 

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

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

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

 
2.7

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


Page 3

 
LEEDS BID LIMITED

(A company limited by guarantee)
 

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

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements
-
5 years straight line
Ranger equipment
-
5 years straight line
Fixtures and fittings
-
5 years straight line
Office equipment
-
3 years straight line
Project equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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 4

 
LEEDS BID LIMITED

(A company limited by guarantee)
 

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

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptins that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


4.


Employees

The average monthly number of employees, including directors, during the year was 31 (2023 - 32).


5.


Tangible fixed assets





Long-term leasehold property
Ranger equipment
Fixtures and fittings
Office equipment
Project equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
15,762
121,447
116,239
61,896
373,736
689,080


Additions
-
-
-
3,817
8,915
12,732


Disposals
-
-
-
(999)
(250)
(1,249)



At 31 March 2024

15,762
121,447
116,239
64,714
382,401
700,563



Depreciation


At 1 April 2023
10,963
109,717
111,804
56,479
316,749
605,712


Charge for the year on owned assets
960
2,760
1,296
2,543
18,709
26,268


Disposals
-
-
-
(519)
-
(519)



At 31 March 2024

11,923
112,477
113,100
58,503
335,458
631,461



Net book value



At 31 March 2024
3,839
8,970
3,139
6,211
46,943
69,102



At 31 March 2023
4,799
11,730
4,435
5,417
56,987
83,368


6.


Debtors

2024
2023
£
£


Trade debtors
1,679,284
9,669

Other debtors
-
129,781

Prepayments and accrued income
255,008
297,155
Page 5

 
LEEDS BID LIMITED

(A company limited by guarantee)
 

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

6.Debtors (continued)


1,934,292
436,605



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
145,367
853,201

145,367
853,201



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
368,192
342,333

Corporation tax
6,280
1,758

Other taxation and social security
194,931
17,017

Other creditors
99,133
1,259

Accruals and deferred income
1,455,337
20,265

2,123,873
382,632




9.


Company status

The company is a private company limited by guarantee 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.


10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
63,182
-

Later than 1 year and not later than 5 years
95,619
84,189

158,801
84,189

Page 6

 
LEEDS BID LIMITED

(A company limited by guarantee)
 

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

11.


Related party transactions

During the current and previous year, the company has not entered into any arrangements with related parties that are above market rate. 
Various organisations, which include parties connected to Leeds BID, have provided in kind support for nil consideration.


12.


Auditors' information

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

The audit report was signed on 20 December 2024 by Susan Seaman BA FCA CIOT (Senior statutory auditor) on behalf of Sagars Accountants Ltd.


Page 7