IRIS Accounts Production v25.1.3.33 08275968 Board of Directors 1.10.23 30.9.24 30.9.24 The company is a not for profit business. ++ The principal activity of the company in the period under review is to operate within the regulations set by the Government on Business Improvement Districts and to ensure that the company's strategy creates long term value for businesses within the Merthyr Tydfil Business Improvement District. The company has four key project areas: ++ - Promoting Merthyr Tydfil: marketing the town centre to visitors and capturing more local spend. - Welcoming Merthyr Tydfil: enhancing the town centre experience. - Engaging Merthyr Tydfil:better communication between businesses and realising cost savings. - Transforming Merthyr Tydfil: creating a thriving business and retail environment. false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082759682023-09-30082759682024-09-30082759682023-10-012024-09-30082759682022-09-30082759682022-10-012023-09-30082759682023-09-3008275968ns15:EnglandWales2023-10-012024-09-3008275968ns14:PoundSterling2023-10-012024-09-3008275968ns10:Director12023-10-012024-09-3008275968ns10:CompanyLimitedByGuarantee2023-10-012024-09-3008275968ns10:SmallEntities2023-10-012024-09-3008275968ns10:AuditExemptWithAccountantsReport2023-10-012024-09-3008275968ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3008275968ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3008275968ns10:FullAccounts2023-10-012024-09-3008275968ns10:Director22023-10-012024-09-3008275968ns10:Director32023-10-012024-09-3008275968ns10:Director42023-10-012024-09-3008275968ns10:Director52023-10-012024-09-3008275968ns10:Director82023-10-012024-09-3008275968ns10:Director92023-10-012024-09-3008275968ns10:Director102023-10-012024-09-3008275968ns10:Director112023-10-012024-09-3008275968ns10:Director122023-10-012024-09-3008275968ns10:RegisteredOffice2023-10-012024-09-3008275968ns10:Director72023-10-012024-09-3008275968ns10:Director62023-10-012024-09-3008275968ns5:CurrentFinancialInstruments2024-09-3008275968ns5:CurrentFinancialInstruments2023-09-3008275968ns5:RetainedEarningsAccumulatedLosses2024-09-3008275968ns5:RetainedEarningsAccumulatedLosses2023-09-3008275968ns5:RetainedEarningsAccumulatedLosses2022-09-3008275968ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-3008275968ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-3008275968ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3008275968ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30
REGISTERED NUMBER: 08275968 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

THE BIG HEART OF MERTHYR TYDFIL

THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 6

Notes to the Financial Statements 7


THE BIG HEART OF MERTHYR TYDFIL

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: K Courts
C S Mason
A H Williams
L Simmonds
P Crimmings
L Gardner
S L Newton
L H Evans
R Owen
B A Carter





REGISTERED OFFICE: 147a High Street
Merthyr Tydfil
CF47 8DP





REGISTERED NUMBER: 08275968 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

REVIEW OF BUSINESS
The projects and services delivered by The Big Heart of Merthyr Tydfil Business Improvement District (BID) in the second year of its 3rd term are based on the Business Plan 2023 - 2027 which was drawn up after consultation with businesses prior to the 2023 renewal ballot. The key initiatives have been detailed in regular letters to BID levy payers in pre-AGM updates and at the AGM. The annual update was given by the Chair of the Board of Directors and the BID Manager at the 2024 AGM.

The Big Heart of Merthyr reintroduced many of its projects and more which fell under the key areas of responsibility including Promoting, Welcoming, Engaging and Transforming. The BID focused on increasing the footfall in the town centre by putting on Events, Festivals and Pop-ups.

The BID delivered projects and services across 4 key themes.

Promoting Merthyr Tydfil
- Marketing the town centre to visitors and capturing local spend.

Welcoming Merthyr Tydfil
- Enhancing the town centre experience.

Engaging Merthyr Tydfil
- Engaging stronger communication between business and stakeholders, and promoting cost savings through various platforms.

Transforming Merthyr Tydfil
- Creating a more attractive business retail environment for town centre visitors.

The BID levy income is collected by the local authority as per BID regulations, in this case Merthyr Tydfil County Borough Council, which is required to pass the full amount to The Big Heart of Merthyr Tydfil BID. The BID levy for the period 1 October 2023 to 2024 was set at 1.87% of RV as set out and allowed for in the original documentation. Additional income from external funding sources has also been utilised during this period to assist in the delivery of services and activities within the four key project areas outlined above.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

K Courts
C S Mason
A H Williams
L Simmonds
P Crimmings
L Gardner

Other changes in directors holding office are as follows:

A Owen - resigned 2 July 2024
S L Newton - appointed 10 May 2024
L H Evans - appointed 10 May 2024

R Owen and B A Carter were appointed as directors after 30 September 2024 but prior to the date of this report.

G V Thomas ceased to be a director after 30 September 2024 but prior to the date of this report.


THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





K Courts - Director


4 June 2025

THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
£    £   

INCOME 233,931 226,310

Project expenditure (253,605 ) (152,750 )
GROSS (DEFICIT)/SURPLUS (19,674 ) 73,560

Administrative expenses (60,106 ) (59,767 )
OPERATING (DEFICIT)/SURPLUS and
(DEFICIT)/SURPLUS BEFORE
TAXATION

(79,780

)

13,793

Tax on (deficit)/surplus - -
(DEFICIT)/SURPLUS FOR THE
FINANCIAL YEAR

(79,780

)

13,793

THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 91,120 68,163
Cash at bank 98,359 148,044
189,479 216,207
CREDITORS
Amounts falling due within one year 5 128,194 75,142
NET CURRENT ASSETS 61,285 141,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,285

141,065

RESERVES
Income and expenditure account 61,285 141,065
61,285 141,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





K Courts - Director


THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Retained Total
earnings equity
£    £   
Balance at 1 October 2022 127,272 127,272

Changes in equity
Total comprehensive income 13,793 13,793
Balance at 30 September 2023 141,065 141,065

Changes in equity
Total comprehensive income (79,780 ) (79,780 )
Balance at 30 September 2024 61,285 61,285

THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

The Big Heart Of Merthyr Tydfil is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Income represents the net value of levy contributions that were invoiced during the period, exclusive of vat.

Grant income
Grant income is included in full on receipt unless it is subject to a condition when it is treated as deferred income.

Deferred income
Income or grants received in advance are held as deferred income and carried forward to future periods to be released when the defined purpose of the work or project have been completed, approved or certified.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The BID is in the third year of a five year term ending on 30th September 2027. After that term the outcome is unknown.

Consequently, the directors consider these accounts should be prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 89,303 67,472
Other debtors 967 691
Prepayments 850 -
91,120 68,163

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 17,461 1,897
Other creditors 729 188
Accrued expenses 3,620 3,005
Deferred income 106,384 70,052
128,194 75,142

THE BIG HEART OF MERTHYR TYDFIL (REGISTERED NUMBER: 08275968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. RELATED PARTY DISCLOSURES

During the year the following receipts and payments were given from/to Businesses and Organisations whose Owners/Directors were also Directors of the company.

Type of Income Source Related Party Amount £



Grant Income


MTCBC
G.Thomas
A Owen & .B
Carter


77,860


Promoting Income


MTCBC
G.Thomas
A Owen & .B
Carter


4,360


Welcoming Income


MTCBC
G.Thomas
A Owen & .B
Carter


1,866


Christmas Campaign


MTCBC
G.Thomas
A Owen & .B
Carter


5,104

Type of Expenditure Source Related Party Amount £



Christmas Campaign


MTCBC
G.Thomas
A Owen & .B
Carter


6,050

No other related party transactions were made.