NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Company Registration Number:
13774027 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Called up share capital not paid: 1 1
Fixed assets
Intangible assets: 3 444,194 284,550
Tangible assets: 4 162,931 282,575
Investments:   0 0
Total fixed assets: 607,125 567,125
Current assets
Stocks: 0 0
Debtors:   1,113,548 239,765
Cash at bank and in hand: 696,338 591,065
Investments:   0 0
Total current assets: 1,809,886 830,830
Creditors: amounts falling due within one year: 5 (2,474,893) (1,519,907)
Net current assets (liabilities): (665,007) (689,077)
Total assets less current liabilities: (57,881) (121,951)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): (57,881) (121,951)
Capital and reserves
Called up share capital: 1 1
Share premium account: 0
Revaluation reserve: 00
Other reserves: 0
Profit and loss account: (57,882) (121,952)
Shareholders funds: (57,881) (121,951)

The notes form part of these financial statements

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 08 April 2025
and signed on behalf of the board by:

Name: Anthony Pilkington
Status: Director

The notes form part of these financial statements

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 253 260

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible Assets

Total
Cost £
At 01 April 2023 379,402
Additions 339,327
At 31 March 2024 718,729
Amortisation
At 01 April 2023 94,852
Charge for year 179,683
At 31 March 2024 274,535
Net book value
At 31 March 2024 444,194
At 31 March 2023 284,550

The intangible assets comprise computer software acquired to enhance and automate the organisation’s financial and operational processes, together with the initial IT infrastructural set-up and ongoing IT service provision contracted with Bradford Council. The useful life of the software is based on expected utilisation by the company and has been assessed as 4 years.

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 390,132
Additions 12,778
At 31 March 2024 402,910
Depreciation
At 01 April 2023 107,557
Charge for year 132,422
At 31 March 2024 239,979
Net book value
At 31 March 2024 162,931
At 31 March 2023 282,575

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2474893

NEW CHOICES (BRADFORD & DISTRICT) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Changes in presentation and prior period adjustments

During the preparation of the 2023/24 financial statements, the following prior period errors were identified, requiring restatement of the 2022/23 accounts. These adjustments ensure compliance with FRS 102 and provide a true and fair view. 1. Reclassification of Miscellaneous Income Miscellaneous income for 2022/23 was previously classified under 'Other Income’ in the Statement of Comprehensive Income. This has been reclassified to Revenue. There is no impact on the Total Comprehensive Loss for 2022/23. 2. Start Up Expenses During the year, it was identified that start-up costs amounting to £117,975 were incorrectly classified as vehicles in the 2022/23 accounts, resulting in depreciation of £39,325 being wrongly charged. To correct these errors, the following adjustments have been made: -Removing the misclassified vehicle and reversing the associated depreciation charge, and as a result, both the Statement of Financial Position and the Statement of Comprehensive Income have been restated accordingly. 2. Deferred Start-Up Costs A portion of the total start-up costs incurred in 2022/23, amounting to £145,066, was capitalised and deferred to 2023/24. This amount has now been expensed in the 2022/23 accounts. To correct this, the deferred start-up costs have been reclassified and recognised as operational expenses in the Statement of Comprehensive Income for 2022/23, in accordance with the company’s accounting policy. 4. Donated Company Vehicle During the preparation of the financial statements, it was identified that 23 vehicles transferred to New Choices (Bradford & District) Ltd from Home Farm Trust Ltd upon vesting were not recorded in the 2022/23 accounts. These vehicles have been valued at their fair value as of 01/04/2022. To rectify this, the assets have now been recognised under PPE as an acquisition, with a corresponding donation income entry in the Statement of Comprehensive Income. Impact of Prior Period Adjustments on Financial Statements The prior period adjustments identified during the year have resulted in restatements to the Statement of Financial Position and the Statement of Comprehensive Income for the year ended 31 March 2023. These adjustments ensure the financial statements present a true and fair view in accordance with FRS 102.