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REGISTERED NUMBER: 10618116 (England and Wales)










Unaudited Financial Statements

For The Year Ended 30 September 2024

for

Gloucester BID Limited

Gloucester BID Limited (Registered number: 10618116)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gloucester BID Limited

Company Information
For The Year Ended 30 September 2024







DIRECTORS: K J Bates
J O Hudson
C S Nyland
J K Robinson
T Wooldridge
Mrs M Kimber
O J Acland
Mrs M E Sibley
H Joslin
Ms R Zawadzki





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 10618116 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Gloucester BID Limited (Registered number: 10618116)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,585 21,809

CURRENT ASSETS
Debtors 5 221,911 125,102
Cash at bank and in hand 69,260 262,588
291,171 387,690
CREDITORS
Amounts falling due within one year 6 48,858 27,881
NET CURRENT ASSETS 242,313 359,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,898

381,618

ACCRUALS AND DEFERRED INCOME 1,640 5,577
NET ASSETS 308,258 376,041

RESERVES
Income and expenditure account 308,258 376,041
308,258 376,041

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.

Gloucester BID Limited (Registered number: 10618116)

Balance Sheet - continued
30 September 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:




C S Nyland - Director



K J Bates - Director


Gloucester BID Limited (Registered number: 10618116)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Gloucester BID Limited 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
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery - 25% straight line
Computer equipment - 33% straight line

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Other financial assets
Other financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Gloucester BID Limited (Registered number: 10618116)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Trade debtors, loans and other debtors that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and debtors'. Loans and debtors are measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities 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 deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
The company is a not for profit organisation and accordingly is not subject to corporation tax.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

Reserves policy
The company retains a level of reserves of approximately £70,000 to cover seasonal demands on cash flow. In maintaining this buffer, the company can maintain the service level to the City Centre and related businesses through the year alongside upfront funding of events.

The Covid-19 pandemic and associated lockdown periods led to a decreased spending during 2020 and 2021 as events could not be run during those times. As such, retained funds have increased over the desired buffer level and the company is now in a position to extend the support and promotion of businesses in Gloucester City Centre. The intention is to expend this surplus over a 4 year period up to 2026.

Gloucester BID Limited (Registered number: 10618116)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 96,873 1,154 98,027
Additions 65,125 1,614 66,739
At 30 September 2024 161,998 2,768 164,766
DEPRECIATION
At 1 October 2023 75,502 716 76,218
Charge for year 20,569 394 20,963
At 30 September 2024 96,071 1,110 97,181
NET BOOK VALUE
At 30 September 2024 65,927 1,658 67,585
At 30 September 2023 21,371 438 21,809

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 3,100 28,026
Other debtors 9,176 9,538
VAT 31,035 19,392
Prepayments and accrued income 178,600 68,146
221,911 125,102

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 39,498 21,191
Social security and other taxes 963 223
Other creditors - 530
Deferred income 3,937 3,937
Accrued expenses 4,460 2,000
48,858 27,881