Newry Bid Company Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: NI636954

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		799		8,225

			799		8,225
CURRENT ASSETS
Debtors	6	591,469		587,877
Cash at bank and in hand		24,613		41,574

		616,082		629,451
Creditors: Amounts Falling Due Within One Year	7	(31,455 )		(42,432 )

NET CURRENT ASSETS (LIABILITIES)			584,627		587,019

TOTAL ASSETS LESS CURRENT LIABILITIES			585,426		595,244

NET ASSETS			585,426		595,244

Income and Expenditure Account			585,426		595,244

MEMBERS' FUNDS			585,426		595,244

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.

On behalf of the board

Mr Peter Murray Director	Mr David Downey Director
16/12/2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Newry Bid Company Limited is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI636954 . The registered office is Unit 8 Monaghan Court Business Centre, Monaghan Street, Newry, Co Down, BT35 6BH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the BID Levy Income and is recognised when it is invoiced to Newry, Mourne & Down Council for drawdown.

Other Income

Other Income is received, net of discounts and value added taxes and relates to any non BID Levy Income Newry BID receives.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% Straight line

2.4. Taxation

Newry BID is not subject to corporation tax as it is regarded as having 'mutual trading status'.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Prior Period Adjustment

Prior year adjustment relates to £25000 Bid Levy Income which was incorrectly classified and should have been included in income. The accounts have been restated to incorporate this.

The bad debt provision included in expenses in 31 March 2024 of £184,366 has been restated in the prior year.

The change has resulted in members funds brought forward of £595,244.

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	32,900
Additions	799

As at 31 March 2025	33,699

Depreciation
As at 1 April 2024	24,675
Provided during the period	8,225

As at 31 March 2025	32,900

Net Book Value
As at 31 March 2025	799

As at 1 April 2024	8,225

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Newry Bid Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	591,469	587,877

7. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	6,839	30,175
PAYE Payable	12,478	1,490
VAT	11,322	2,286
Pension Payable	316	256
Accruals and deferred income	500	-
Capital grants	-	8,225

	31,455	42,432

8. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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