Caseware UK (AP4) 2023.0.135 2023.0.135 2025-03-312025-03-312025-05-14true2024-04-0115falsethe ongoing operation and promotion of a Business Improvement District (BID)15falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05392520 2024-04-01 2025-03-31 05392520 2023-04-01 2024-03-31 05392520 2025-03-31 05392520 2024-03-31 05392520 c:Director1 2024-04-01 2025-03-31 05392520 d:CurrentFinancialInstruments 2025-03-31 05392520 d:CurrentFinancialInstruments 2024-03-31 05392520 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 05392520 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05392520 d:RetainedEarningsAccumulatedLosses 2025-03-31 05392520 d:RetainedEarningsAccumulatedLosses 2024-03-31 05392520 c:EntityNoLongerTradingButTradedInPast 2024-04-01 2025-03-31 05392520 c:FRS102 2024-04-01 2025-03-31 05392520 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05392520 c:FullAccounts 2024-04-01 2025-03-31 05392520 c:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 05392520 d:WithinOneYear 2025-03-31 05392520 d:WithinOneYear 2024-03-31 05392520 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 05392520










THE BEDFORDBID COMPANY LIMITED
(A Company Limited by Guarantee)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
THE BEDFORDBID COMPANY LIMITED
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:05392520

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Current assets
  

Debtors
 4 
6,884
8,380

Bank and cash balances
  
48,229
392,378

  
55,113
400,758

Creditors: amounts falling due within one year
 5 
(55,113)
(44,298)

Net assets
  
-
356,460


Capital and reserves
  

Profit and loss account
  
-
356,460


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 S J Laycock
Director

Date: 14 May 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
THE BEDFORDBID COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

The BedfordBID Company Limited ("the Company") is a private Company limited by guarantee, incorporated in England and Wales under the Companies Act.  
The registered number and address of the registered office are given in the Company information.  
The nature of the Company's operations and its principal activities are set out in the Directors' Report on page 1.  
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the break up basis which the Directors consider to be appropriate since the company ceased trading.

 
2.3

Turnover

Turnover represents monies remitted (excluding Value Added Tax) by Bedford Borough Council in respect of BID levies collected and monies due from other BID activities during the year.

 
2.4

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.

 
2.5

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.

Page 2

 
THE BEDFORDBID COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 3

 
THE BEDFORDBID COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.7

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.

 
2.8

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.

  
2.9

Bedford Town Centre Gift Voucher scheme

The Company operates the Bedford Town Centre Gift Voucher scheme. Income received from the issue of vouchers during the year is netted against the corresponding cost and liability recognised for the redemption of those vouchers issued in the year. The net deficit or surplus in the year is included within the cost of sales of the Company.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
THE BEDFORDBID COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Employees

Details of directors' remuneration is shown within the related party transactions note below.

The average monthly number of employees, including directors, during the year was 15 (2024 - 15).


4.


Debtors

2025
2024
£
£


Trade debtors
-
1,689

VAT recoverable
6,884
3,108

Prepayments and accrued income
-
3,583

6,884
8,380



5.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
-
21,726

Other taxation and social security
-
9,847

Other creditors
55,113
6,103

Accruals and deferred income
-
6,622

55,113
44,298


Included within other creditors is a balance owed to Bedford Borough Council for £55,113 (2024: £Nil) which relates to the remaining reserves and bank balances of the Company to bring the net assets of the Company to £Nil. 



6.


Company status

The Company is limited by guarantee. In the event of the Company being wound up, every member of the Company undertakes to contribute such amounts as may be required (not exceeding one pound) to the assets of the Company.

Page 5

 
THE BEDFORDBID COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Rent
-
6,096


8.


Related party transactions

During the year administrative charges of £12,500 (2024: £12,500) were paid to the Bedford Borough Council for the collection of BID levies. 
In addition to this, there are costs of £5,214 (2024: £9,843 included within cost of sales and income of £Nil £2024: £1,985) included within turnover, which related to the Bedford Borough Council and the various initiatives run by the BID.
Remuneration of £12,000 (2024: £12,000) was paid to the executive director during the year. This represents the full cost of the director to the Company.

 
Page 6