Company Registration No. 15215972 (England and Wales)
CRANLEIGH BID COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
CRANLEIGH BID COMPANY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CRANLEIGH BID COMPANY LTD
Company Registration No. 15215972
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
Notes
£
£
Fixed assets
Intangible assets
3
4,250
Tangible assets
4
38,626
42,876
Current assets
Debtors
5
21,211
Cash at bank and in hand
44,319
65,530
Creditors: amounts falling due within one year
6
(54,613)
Net current assets
10,917
Total assets less current liabilities
53,793
Creditors: amounts falling due after more than one year
7
(19,596)
Net assets
34,197
Reserves
Income and expenditure account
34,197
Members' funds
34,197
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CRANLEIGH BID COMPANY LTD
Company Registration No. 15215972
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 July 2025 and are signed on its behalf by:
A Goddon
Director
CRANLEIGH BID COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
Cranleigh Bid Company Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 111 High Street, Cranleigh, GU6 8AU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
These accounts show the period from 17 October 2023 to 31 October 2024, the accounts cover a period of 12 months and 14 days. There are no comparative figures as these are the first accounts since incorporation on 17 October 2023.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Levy income is collected by Waverley Borough Council, as agent for the company, based on a percentage of
the council tax paid by businesses in Cranleigh's Business Improvement District (BID). It is recognised on an
accruals basis by the company.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Software
5 year straight line
1.5
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 equipment
5 Years Straight Line
CRANLEIGH BID COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.6
Financial instruments
Basic financial assets
Basic financial assets, which include 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.7
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
The BID is not subject to corporation tax on its activities of running the improvement district, except that it pays corporation tax on its investment income.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
CRANLEIGH BID COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
3
Intangible fixed assets
Other
£
Cost
At 17 October 2023
Additions
5,100
At 31 October 2024
5,100
Amortisation and impairment
At 17 October 2023
Amortisation charged for the period
850
At 31 October 2024
850
Carrying amount
At 31 October 2024
4,250
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 17 October 2023
Additions
48,282
At 31 October 2024
48,282
Depreciation and impairment
At 17 October 2023
Depreciation charged in the period
9,656
At 31 October 2024
9,656
Carrying amount
At 31 October 2024
38,626
5
Debtors
2024
Amounts falling due within one year:
£
VAT recoverable
182
Levy Debts
21,029
21,211
CRANLEIGH BID COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
29,616
Other creditors
24,997
54,613
7
Creditors: amounts falling due after more than one year
2024
£
Other creditors
19,596
8
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.