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Registered number: 02501469
North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Financial statements
Information for filing with the registrar
For the Year Ended 30 June 2025
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Contents
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Statement of Changes in Equity
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Notes to the Financial Statements
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Registered number: 02501469
Balance Sheet
As at 30 June 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Registered number: 02501469
Balance Sheet (continued)
As at 30 June 2025
The notes on pages 4 to 11 form part of these financial statements.
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Statement of Changes in Equity
For the Year Ended 30 June 2025
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Comprehensive income for the year
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Total comprehensive income for the year
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Transfer to/from profit and loss account
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Total transactions with owners
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Comprehensive income for the year
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Total comprehensive income for the year
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Transfer to/from profit and loss account
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The notes on pages 4 to 11 form part of these financial statements.
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
NorthWest Business Leadership Team Limited is a private company limited by guarantee, incorporated in England and Wales. The registered address is Daresbury Laboratory, Keckwick Lane, Daresbury, Warrington, WA4 4AD and the company number is 02501469.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Despite continuing challenging trading conditions, membership levels remain as forecast, with robust financial planning in place. The board will keep membership levels and spending under review and respond to any unforeseen events. The directors are confident that the Company will be able to meet its future financial obligations. On this basis, they believe the going concern basis is appropriate.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Member Subscriptions
Turnover from member subscriptions is recognised in full at the date of appointment or membership renewal.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
In practice, as the Company is considered a mutual trader, no tax liability arises on the trading profits. This is because all trading, both income and expenditure, is carried on exclusively to provide benefits and services to its members. All profits generated remain available in the Company, and are intended to then be used for the continued benefit of its members.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
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Charge for the year on owned assets
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
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Financial assets measured at fair value through profit or loss
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Financial liabilities measured at amortised cost
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Financial assets measured at aiortised cost comprise cash at bank, investments in cther entities, and trade debtors.
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Financial liabilities measured at amortised cost comprise trade creditors and accruals.
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Other reserves
Designated Activity Reserve
The majority of the funds set aside for enrichment activities were spent in the year ended 30 June 2025. In line with recent practice surplus funds at the year end have been designated for future specific use. The net transfer to the reserve during the year was £63,355, resulting in a closing balance of £98,000.
Profit and loss account
The profit and loss account represents cumulative profits (for all periods to date) which have been retained by the company and not distributed to the members of the company.
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.
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North West Business Leadership Team Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the Year Ended 30 June 2025
The company operates a defined contribution pension scheme which is available to all employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
Some employees have chosen to make contributions to their own private pension arrangements instead of participating in the company’s scheme.
The pension cost for the year represents contributions payable by the company to the pension schemes and amounted to £56,041 (2024 - £65,159).
There were no outstanding or prepaid contributions at the balance sheet date (2024 - £Nil).
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Commitments under operating leases
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At 30 June 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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During the year, one director was also a board director of member companies that provided non-cash consideration for their membership fees. The Board considers this to be reasonable payment for their memberships, totalling £15,000 (2024: one director, £12,500).
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