REGISTERED NUMBER: 09601967 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

SHEFFIELD CITY CENTRE BID LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S G H Nevill

N J Beecroft

M J Hobson

K S Yeardley

D M Lally

Ms D D Nagy

L A Appleton

T W Bird

P T Ferguson

Mrs C M Hamilton

A N Stacey

Ms L A Goodacre

Ms V I Khan

Cllr M Mahroof

SECRETARY:

Ms D Jarvis

REGISTERED OFFICE:

Suite 626 @ Spaces

Pennine Five

20-22 Hawley Street

Sheffield

S1 2EA

REGISTERED NUMBER:

09601967 (England and Wales)

AUDITORS:

Hodgson & Oldfield

Statutory Auditors

Aizlewood's Mill

Nursery Street

Sheffield

S3 8GG

FIXED ASSETS

Tangible assets

4

3,220

3,314

CURRENT ASSETS

Debtors

5

66,962

50,462

Cash at bank and in hand

214,885

477,620

281,847

528,082

CREDITORS

Amounts falling due within one year

6

246,028

406,805

NET CURRENT ASSETS

35,819

121,277

TOTAL ASSETS LESS CURRENT LIABILITIES

39,039

124,591

RESERVES

Income and expenditure account

39,039

124,591

39,039

124,591

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 29 April 2026 and were signed on its behalf by:

S G H Nevill - Director

1.	STATUTORY INFORMATION

SHEFFIELD CITY CENTRE BID LIMITED 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 (£).

Monetary amounts in these financial statements are rounded to the nearest £.

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.

Going concern

The directors having made due and careful enquiry, are of the opinion that the company has adequate working capital to fulfill its objectives for a period of at least 12 months from the date of the approval of these financial statements.The BID was successfully renewed for a five year period ensuring that Levy income will be received into the company until at least 31 March 2031. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover represents levy contributions to the company made by local businesses net of VAT. Annual levy contributions are agreed each year and paid in advance, with the necessary adjustments being made through deferred/accrued revenue to apportion the income evenly throughout the year.

Income from the sale of gift cards is only recognised when the gift card has expired and any breakage is determined.

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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and related parties

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2024

20,721

Additions

1,040

At 31 July 2025

21,761

DEPRECIATION

At 1 August 2024

17,407

Charge for year

1,134

At 31 July 2025

18,541

NET BOOK VALUE

At 31 July 2025

3,220

At 31 July 2024

3,314

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

-

6,055

Other debtors

66,962

44,407

66,962

50,462

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade creditors

8,587

19,958

Taxation and social security

8,130

25,422

Other creditors

229,311

361,425

246,028

406,805

7.

LOANS

An analysis of the maturity of loans is given below:

31.7.25

31.7.24

£

£

Amounts falling due within one year or on demand:

Other loans

-

14,000

The company received a loan of £70,000 from Sheffield City Council to support cashflow due to the agreed delay in collecting the levy income due to the Covid-19 pandemic.

The loan is repayable by instalments, the final instalment being in April 2025.

The loan does not bear interest.

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.25

31.7.24

£

£

Within one year

20,091

26,201

Between one and five years

26,250

46,341

In more than five years

-

7,705

46,341

80,247

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Scott Morton (Senior Statutory Auditor)

for and on behalf of Hodgson & Oldfield

10.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions that had related party interests :

The company received income of £630,495 and incurred expenditure of £62,229 with Sheffield City Council, an organisation that Councillor J Otten is associated with.

Debtors of £0 were due to the company and Creditors of £0 were owed by the company in relation to Sheffield City Council at the year end.

The balance due on a loan from Sheffield City Council was repaid in full during the year.

The company incurred expenditure of £752 with Sheffield Hallam University, an organisation in which D Lally is on the Executive Board .

Fees for services to the company, totalling £5,007, were paid to one director during the year.

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by the board, no ultimate controlling party exists.

13.	LIMITED BY GUARANTEE

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 £1 towards the assets of the company in the event of liquidation.