Company registration number 08542859 (England and Wales)
MRBD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MRBD
COMPANY INFORMATION
Directors
T Williams
M Wood
T Rose
P Heath-Lay
M Burnige
A Nawaz
G Tomlinson
S Brown
(Appointed 6 December 2024)
W Lovegrove
(Appointed 6 December 2024)
M Martinez
(Appointed 6 December 2024)
J Trigg
(Appointed 6 December 2024)
Secretary
S Sawyer
Company number
08542859
Registered office
1-7 Station Road
Crawley
West Sussex
RH10 1HT
Senior Statutory Auditor
Darren Harding ACA, FCCA, DChA
Auditor
Richard Place Dobson Services Limited
1-7 Station Road
Crawley
West Sussex
RH10 1HT
West Sussex
RH10 1HT
Business address
Unit 38 Basepoint Business Centre
Metcalf Way
Manor Royal Business District
Crawley
West Sussex
RH11 7XX
MRBD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
MRBD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
page 1
2025
2024
Notes
£
£
£
£
Current assets
Debtors
5
192,358
109,346
Cash at bank and in hand
56,391
313,127
248,749
422,473
Creditors: amounts falling due within one year
6
(222,917)
(311,355)
Net current assets
25,832
111,118
Reserves
Income and expenditure account
11
25,832
111,118
Members' funds
25,832
111,118

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered 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 20 November 2025 and are signed on its behalf by:
T Williams
Director
Company Registration No. 08542859
MRBD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
page 2
1
Accounting policies
Company information

MRBD is a private company limited by guarantee incorporated in England and Wales. The registered office is 1-7 Station Road, Crawley, West Sussex, RH10 1HT.

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 a mounts 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
Income and expenditure

Levy income is received from local businesses, which are collected on MRBD's behalf by the local council. Levies are recognised in the period to which they relate.

Grant income received by MRBD for projects is recognised in the period to which it relates and when the work it relates to has been carried out.

Expenses exclude VAT where applicable as the company can reclaim it.

1.3
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:

Digital Signs
In line with BID period

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.

1.4
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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs . Financial assets classified as receivable within one year are not amortised.

MRBD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
page 3
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

1.5
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8

Renewal Sum Provision

The Manor Royal Business District (BID) Business Plan, approved by the BID Ballot, makes provision for a sum to be set aside as a provision for funding the extension of the BID beyond its current term. Should the board decide not to continue with the BID the accumulated sums will be used in accordance with its Memorandum of Association concerning dissolution.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

MRBD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
page 4
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
3
4
Tangible fixed assets
Digital Signs
£
Cost
At 1 April 2024 and 31 March 2025
145,350
Depreciation and impairment
At 1 April 2024 and 31 March 2025
145,350
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
33,909
42,984
VAT debtor
24,126
5,457
Prepayments and other debtors
134,323
60,905
192,358
109,346
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
37,897
59,789
Other creditors
185,020
251,566
222,917
311,355
MRBD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
page 5
7
Provisions for liabilities
At the discretion of the Board of Directors, based on the intention to seek a future term of the Manor Royal BID, an amount will be set aside to fund the costs of extending the BID via another ballot of businesses. The Directors have chosen not to include any such provision.
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.

9
Recovery of bad debt

The annual Manor Royal BID Levy contribution is calculated as a percentage of the rateable value of the liable property located within the designated BID area. It is collected in accordance with the agreed rules set out in the Business Plan Proposal and accompanying Operating Agreement. Bad or doubtful debt and any subsequent write-offs is only authorised by the BID Board of Directors following advice from the Billing Authority (Crawley Borough Council). Where successful collection is deemed to be unlikely, usually because a liable party has gone out of business, the Board of Directors having been satisfied that this is the case, will authorise a write-off.

10
Crawley Creative Playground (Arts Council) Funding

The Crawley Creative Playground (CPP) is a three-year Arts Council funded Creative People and Places project to improve participation in arts and culture throughout Crawley. The Manor Royal BID acts as the accountable body for the £1 million grant that it holds in trust and releases to the project delivery partner (Creative Crawley) on an agreed basis. As the accountable body there is a separate agreement in place between the BID and the Arts Council. The grant is accounted for separately from BID funds and cannot be used for any purpose other than CPP delivery. While the BID receives a nominal fee for its services, the role it plays as the accountable body is a demonstration of its commitment to the town beyond the immediate BID area allowing the town to benefit from additional investment and activity that might otherwise be lost. The Executive Director also serves as a Crawley Creative Playground Trustee.

11
Income and expenditure account
2025
2024
£
£
At the beginning of the year
111,118
125,338
Deficit for the year
(85,286)
(14,220)
At the end of the year
25,832
111,118
12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its deficit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

MRBD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
12
Audit report information
(Continued)
page 6
Senior Statutory Auditor:
Darren Harding ACA FCCA DChA
Statutory Auditor:
Richard Place Dobson Services Limited
Date of audit report:
2 December 2025
13
Explanation of the Surplus or deficit

The Manor Royal BID is a not-for-profit organisation. All monies generated are invested in those projects and initiatives as described in the Manor Royal BID Business Plan based on delivery over a 5 year term.

Final accounts in any given year can sometimes show a surplus or a deficit. This is usually explained by timing issues in respect of delivering capital projects. The complexity and cost of certain projects may also require the BID to carry forward funds generated in one financial year for expenditure in a future financial year.

It can also be the case that the BID accounts show a trading deficit in one year that is, in almost all cases, planned and offset by the surplus generated in prior years or from promised income in the form of grants for the specific projects yet to be recouped. This is based on forecasts linked to anticipated project delivery that have been authorised by the BID Board of Directors.

This additional note is provided to explain to BID Levy Payers and stakeholders how future funds, are intended to be used in the year ahead. The delivery of these projects, alongside the provision of core services, will be funded from a mix of funds carried forward, BID Levy revenue to be collected in the following year plus any additional funds secured by the Manor Royal BID for the stated project or purpose ie grants.

Please note, these projects are anticipated to be delivered in the next financial year at the time of producing these accounts and can be subject to change.

BID Reserve (in line with policy) | 50,000
Facilities upgrades (Woolborough Lane Linear Park)* | 260,000
Facilities upgrades (Crawter’s Brook People’s Park)* | 181,750
Facilities upgrades (Manor Royal Central Superhub Micro Park)* | 168,000
Facilities upgrades (Gateway 4)* | 280,500
Facilities upgrades (County Oak Corner Micro Park)* | 160,000
Solar PV Rooftop investments* | 985,000
Facilities upgrades (In-between spaces trail)* | 84,000
Move It Transport Initiative** | 45,000
Green Infrastructure & Biodiversity Framework | 25,000
Total | 2,239,250

*Third party contributions from the Crawley Towns Fund will help meet the cost of this project.

**Third party contributions from the Crawley Growth Programme will help meet the cost of this project.

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