Registration number:
Hull City Centre (BID) Limited
(A company limited by guarantee)
for the Year Ended 30 September 2024
Hull City Centre (BID) Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Hull City Centre (BID) Limited
Company Information
Directors |
Mrs V I Jackson Mrs J Buffey Mr T S Powell Mr J A Harris Mr N Waterhouse Mr C M Higgins Mr D C Donkin Mr M Rice Dr I S Kelly Mr G Taylor Mrs K E Shillito Mrs S J Dunion Mrs S J Smith Mr M Ross |
Company secretary |
Mrs S E Dennison |
Registered office |
|
Accountants |
|
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hull City Centre (BID) Limited
for the Year Ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hull City Centre (BID) Limited for the year ended 30 September 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Hull City Centre (BID) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hull City Centre (BID) Limited and state those matters that we have agreed to state to the Board of Directors of Hull City Centre (BID) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hull City Centre (BID) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Hull City Centre (BID) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hull City Centre (BID) Limited. You consider that Hull City Centre (BID) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Hull City Centre (BID) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Certified Accountants
40 Norwood
Beverley
East Yorkshire
HU17 9EY
Hull City Centre (BID) Limited
(Registration number: 05483900)
Balance Sheet as at 30 September 2024
Note |
2024 |
2023 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets/(liabilities) |
- |
- |
|
Reserves |
|||
Surplus/(deficit) |
- |
- |
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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
......................................... |
Hull City Centre (BID) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
General information |
The company is a company limited by guarantee, incorporated in England, 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.
The address of its registered office is:
The principal place of business is:
Business Development Centre
34 - 38 Beverley Road
Hull
East Yorkshire
HU3 1YE
These financial statements were authorised for issue by the
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.
Hull City Centre (BID) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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 balance sheet 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 |
Plant and Machinery |
Straight line over 3 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.
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.
Hull City Centre (BID) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Share capital
The company is limited by guarantee and as such has no share capital.
The members of the company guarantee its indebtedness. This liability is limited to a nominal sum of £1 each. The directors may admit further members in accordance with the Articles of Association.
Each member is entitled to one vote at a general meeting, irrespective of the guarantees that he or she may have made.
In the event of a winding up or dissolution of the company, the members are not entitled to a share of the assets or any surplus arising.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hull City Centre (BID) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Tangible assets |
Other tangible assets |
Total |
|
Cost or valuation |
||
At 1 October 2023 |
|
|
At 30 September 2024 |
|
|
Depreciation |
||
At 1 October 2023 |
|
|
At 30 September 2024 |
|
|
Carrying amount |
||
At 30 September 2024 |
- |
- |
Debtors |
Current |
2024 |
2023 |
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
|
|