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REGISTERED NUMBER: 06823128 (England and Wales)

| Falmouth BID |

| Company Limited by Guarantee |

| Report of the Directors and |

| Unaudited Financial Statements |

| for the Year Ended 31st March 2025 |

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Contents of the Financial Statements

for the Year Ended 31st March 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Statement of Financial Position | 6 |

| Notes to the Financial Statements | 7 |

| Falmouth BID |

| Company Limited by Guarantee |

Company Information

for the Year Ended 31st March 2025

| DIRECTORS: | Ms V J Glaister

| Mr G D Gould

| Mr R M Holmes

| Mrs C A Horton

| Mr P A Wickes

| Mr B R Young

| SECRETARY: | Mr R M Holmes

| REGISTERED OFFICE: | 48 Arwenack Street

| Falmouth

| Cornwall

| TR11 3JH

| REGISTERED NUMBER: | 06823128 (England and Wales)

| ACCOUNTANTS: | Hodgsons

| Chartered Accountants

| 48 Arwenack Street

| Falmouth

| Cornwall

| TR11 3JH

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Report of the Directors

for the Year Ended 31st March 2025

The directors present their report with the financial statements of the company for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of supporting businesses within the Falmouth BID area principally through the promotion of Falmouth as a destination and in turn increasing the number of local, national and international visitors visiting Falmouth.

REVIEW OF BUSINESS

This REVIEW OF BUSINESS 2024-2025 gives you an insight into the wide range of activity that is carried out each year to support our BID business community and town, always ensuring a very strong return on investment. As we continue individually, as businesses and as a community, to respond to post pandemic and cost-of-living related market challenges, your BID has been a vital support conduit, enabler, and voice for business.

MANAGEMENT CHANGE

Executive Director Richard Wilcox, who has led Falmouth Business Improvement District (BID) for nearly 15 years, will be leaving the role at the end of April 2025. Richard has overseen an exceptional delivery programme, leading to Falmouth, Falmouth BID and Richard being recognised nationally for its impact, business support and service delivery.

Over that time, Falmouth BID and Richard have played lead roles in nationally significant events such as the G7 Summit Cornwall, Tall Ships Regatta (which won UK Best Event at industry awards this year) and National Armed Forces Day, as well as overseeing regional firsts such as free public space WiFi, which won a Best UK Digital Project recognition. Richard managed the campaign which culminated in Falmouth scooping the Government's Great British High Street award for Best Coastal Town and was recognised by place industry peers as Inspirational Leader of the Year 2022.

Richard plays a thought leadership role around place and towns, through chairing both a Cornwall Towns Group and South West BIDs forum. He also represents Cornwall on the Association of Towns and City Management's (ATCM) National Advisory Council, which feeds into Government high streets policy as well as the All Party Parliamentary Group (APPG) for Town Centres.

1. MARKETING

Falmouth.co.uk, The official destination website- 25,000 hits a month

| - |  | The BID funds and manages the official town website - www.falmouth.co.uk, a vital project as determined by the BID stakeholder businesses. |

| - |  | Development in terms of design and functionality has taken place, enabling the site to be fully responsive across all platforms and smart devices, with greater page content abilities for BID businesses, including embedded video options and enhanced imagery. |

| - |  | The website averages 25,000 unique monthly visitors, making it the largest and highest profile site for the area. It gives great online profile for hundreds of BID businesses, with their page ranking strongly via Google searches and being viewed by thousands each year. |

Social Media Impact

| - |  | The BID continues to manage the town's official, extensive social media activity. |

| - |  | These platforms continue to have influence and reach - Facebook has experienced 20% YOY growth and now has 60,000 followers, while Instagram has increased 16% growth to 22,000 - and are the major social platforms to promote, highlight and engage people with Falmouth. |

National PR campaign for Falmouth - 27 million views in 2024

| - |  | The BID's proactive national PR campaign reached an audience in 2024 of over 27 million. |

| - |  | This included profile and features in major print and media platforms such as BBC Radio 2, Sunday Telegraph, The Times, and Guardian. Particular highlights include narrative around Sea Shanty Festival and the D-Day 80 Flotilla event in June. |

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Report of the Directors

for the Year Ended 31st March 2025

| - |  | This tranche of work is critical in raising the area's profile, leading to thousands of hits on the official digital platforms and ultimately visits to the town. It also provides a national platform opportunity to hundreds of our BID stakeholder businesses. |

Falmouth for business Video Campaign

| - |  | A new campaign was instigated in 2024 with BID levy businesses being offered the opportunity to have a 1min promotional reel being produced and marketed via the town's official social feeds, on their behalf. |

| - |  | 30 businesses have so far taken up this offer. |

Regional Radio Campaign

| - |  | The Town Team coordinated the delivery of a regional radio campaign through the festive period via the Pirate FM platform. |

| - |  | Adverts promoting our vibrant and diverse business community were aired 250 times to an audience of more than 100,000. |

Falmouth Map

| - |  | 20,000 copies of the Falmouth Map & Guide were printed in 2024. |

| - |  | This free publication receives very good feedback from visitors and is viewed by businesses as an excellent communication support for customers and guests. |

2. EVENTS AND FESTIVALS

Despite prevailing market and budget conditions, the Town Team managed to deliver or support a varied festivals programme in 2024. No other town of comparable size, resource, or capacity across the south west delivers as much:

D-Day 80 Flotilla Event

| - |  | A special commemoration event was organised by the Town Team as part of the UK's D-Day activities. An 80-strong flotilla event, comprising heritage and modern boats was coordinated, with the fleet making its way down the Fal and past historically relevant landmarks such as Turnaware Bar, Tolverne and Pendennis Castle. A service also took place in Kimberley Park, with the day finishing with a lighting of the beacon event. |

| - |  | A huge amount of PR and profile was also achieved, with the BID coordinating global media resulting in millions of pounds worth of destination coverage. |

Falmouth Week

| - |  | A wide-ranging programme of water and land-based activity including a series of high-profile music gigs, professional bike stunt displays, carnival and fireworks display. |

| - |  | The team managed extensive traffic, safety, and logistics management as is the case for all the festivals, secured additional funding and sponsors and facilitated all media, marketing and volunteer support. |

| - |  | The BID supported its delivery, ensuring events took place at multiple venues across the town, thereby maximising the impact |

Falmouth International Sea Shanty Festival

| - |  | The 2024 event was the largest ever, with over 70 groups performing across 25 venues, with the BID providing vital PR support that elevated the offer |

Falmouth Creates

Led and fostered by the Falmouth BID, the Falmouth Creates collaborative, which was formed early in 2022, has facilitated, organised, and supported an enviable calendar of new festivals and happenings dedicated to supporting Falmouth's creative sector. These aim to have a major positive social and economic impact throughout the year and in 2024 comprised:

| - |  | WanderFAL - This early season (April) event engages the community through grassroots music. Locals and visitors alike can 'wander' between musical genres and venues, experiencing diverse national a nd international performers across one lovely weekend. |

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Report of the Directors

for the Year Ended 31st March 2025

| - |  | Falmouth Food & Drink Festival - celebrating Cornish produce, combined with live music and a creative tent, the event takes place over the first May Bank Holiday weekend. |

| - |  | The Falmouth Cringe - A new festival of comedy showcasing up-and-coming local talent and renowned internation al comedians. Cringe will be a new way for Cornish audiences to experience culturally rich, liv e comedy most often seen in London or Edinburgh. |

| - |  | Form - Celebrating Cornwall and Falmouth's visual arts offer through an art fair and workshops, visit ors and residents can meet and purchase from diverse, skilled Cornish artists and craft speople. |

| - |  | Falmouth Book Festival - This Autumn season event brings a diverse range of renowned author talks, workshops, pane l discussions, interactive children's events, readings, and agenda-setting conversations througho ut the town. |

3. PUBLIC REALM

Visual Impact

| - |  | The BID continues to add value to the street environment by co-ordinating and funding the install of bunting, street flags, seating, and banners. |

| - |  | In 2024-25 year, this included over 4,000 metres of colourful Falmouth-branded bunting and 200 street flags to brighten Falmouth's streets and public areas as much as permissions and access allow. |

Spring Clean

Some impactful stats from 2024's efforts:

| - |  | 40+ volunteers were coordinated. |

| - |  | Together, over 1 tonne of litter was collected, 4 streets were power washed, 3 beaches were cleaned, and 5 green spaces were regenerated. |

4. OPPORTUNITIES FOR BUSINESSES

Shopfront Improvement Scheme

| - |  | Funding was secured which enabled the team to coordinate a shopfront improvement scheme. |

| - |  | This was very well received, with 35 businesses currently benefitting from a funding allocation to enhance their visible presence in the town. |

BID Means Business

| - |  | A second business support initiative was launched in 2024, saw a series of free workshops and webinars being offered to the business community. |

| - |  | Run by local businesses for local businesses, skills sessions around themes such as digital marketing, e-commerce and finance were offered |

Lobbying, Advocacy and Leadership

| - |  | The BID also extensively lobbies for Falmouth on a regional and national stage, having been asked to lead the Cornwall and South West BIDs groups, represent on Cornwall's Economic Recovery Group and feed into the national high streets agenda. |

| - |  | Through 2024, we have been a lead voice around vital topics such as greater towns investment, a reduction in VAT, the need for a business rates overhaul and more. |

5. SAFE & SECURE

| - |  | The Team launched a comprehensive new safety support project - Safe & Secure in 2024. |

| - |  | The challenges around low level crime and antisocial behaviour have escalated through and post the pandemic, affecting many businesses and high streets across the UK. |

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Report of the Directors

for the Year Ended 31st March 2025

| - |  | As overwhelmingly requested by businesses during BID ballot 2023, the team responded proactively with the launch of a new Safe & Secure project in 2024. An upgraded CCTV service, a new DISC crime reporting platform, street rangers and an expansion of the town Link radio scheme have been rolled out in conjunction with an enhanced Safer Falmouth agency partnership. |

6. RECOGNITION

| - |  | The Falmouth Town Team, at national industry awards conducted by the Association of Town and City Management (ATCM), scooped the UK & Ireland Best Event recognition for its delivery of the Tall Ships event in 2023, beating dozens of other towns, cities and destinations in the process. |

For a further breakdown of BID activity www.falmouth.co.uk/media.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

Ms V J Glaister

Mr G D Gould

Mr R M Holmes

Mrs C A Horton

Mr P A Wickes

Mr B R Young

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:

Mr R M Holmes - Secretary

5th September 2025

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Statement of Financial Position

31st March 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 5 | 4,739 |  | 2,070 |  |

Cash at bank | 18,226 |  | 8,362 |  |

22,965 |  | 10,432 |  |

CREDITORS

Amounts falling due within one year | 6 | (10,105 | ) | (15,995 | ) |

NET CURRENT ASSETS/(LIABILITIES) | 12,860 |  | (5,563 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 12,860 |  | (5,563 | ) |

RESERVES

Income and expenditure account | 12,860 |  | (5,563 | ) |

12,860 |  | (5,563 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 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 5th September 2025 and were signed on its behalf by:

Mr P A Wickes - Director

Mr R M Holmes - Director

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Notes to the Financial Statements

for the Year Ended 31st March 2025

1. | STATUTORY INFORMATION

| Falmouth BID 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

| The financial statements cover an individual entity.

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.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Computer equipment | - | 50% on cost

| 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

| At the year end the company had net current liabilities and is reliant on the continued support of directors. The financial statements have been prepared on a going concern basis and the directors believe this is appropriate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2024 - 1 ) .

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 1,909 |  |

| DEPRECIATION

| At 1st April 2024

| and 31st March 2025 | 1,909 |  |

| NET BOOK VALUE

| At 31st March 2025 | - |  |

| At 31st March 2024 | - |  |

| Falmouth BID (Registered number: 06823128) |

| Company Limited by Guarantee |

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| VAT | 4,739 |  | 1,740 |  |

| Prepayments | - |  | 330 |  |

4,739 |  | 2,070 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 1,268 |  | 11,159 |  |

| Tax | 155 |  | - |  |

| Social security and other taxes | 760 |  | 2,006 |  |

| Other creditors | 452 |  | 430 |  |

| Accrued expenses | 7,470 |  | 2,400 |  |

10,105 |  | 15,995 |  |

7. | COMPANY LIMITED BY GUARANTEE

| Falmouth BID is a company limited by guarantee and accordingly does not have a share capital.

| Every member of the company is liable to contribute up to £1 to the Company's assets in the event of the company being wound up.