REGISTERED NUMBER: 09317619 (England and Wales)

LUTON BID LTD

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

6

Statement of Income and Retained Earnings

7

Statement of Financial Position

8

Notes to the Financial Statements

9

DIRECTORS:

M Blower

A F Carluccio

A Djengiz

G Goodge

R A Greening

G O'Brien

M A Shaffi

J J Taylor

L Kay

J D Smith

L A McCluskey

REGISTERED OFFICE:

2a 2nd Floor

A W House

6-8 Stuart Street

Luton

Bedfordshire

LU1 2SJ

REGISTERED NUMBER:

09317619 (England and Wales)

ACCOUNTANTS:

Miller & Co

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of running of the Luton town centre Business Improvement District ('BID').

The BID was taken to a successful vote in October 2014. It formally commenced operation in January 2015. The BID ran for 5 years until 31 December 2019 and following a successful formal renewal process in 2019 ran for a second term from January 2020 to December 2024, a second successful formal renewal took place in October 2024, and the BID will run for a further 5-year term until December 2029.

The results for the year and financial position of the company are as shown in the annexed audited financial statements.

REVIEW OF BUSINESS

The principal activities of the company during the first full financial year (April 2025 to March 2026) of the third BID term running from January 2025 to December 2029 focussed on delivering the projects in line with the BID business plan, vision and objectives.

The results for the year and financial position of the company are as shown in the annexed audited financial statements.

Levy income for the financial year was £355,644 from a possible £417,411 This is a collection rate of 85.2%. In addition, the BID was successful in receiving matched funding of £5,000 and of levering in-kind support of £71,600 which included partnership working with Luton Borough Council with regards to Town Centre Floral decoration, working with Bedfordshire Police and other agencies in a joint summer safety operation and support of many events including the Halloween Pumpkin Patch and St Patrick's Day.

The total expenditure for the period was £356,902.

FUTURE DEVELOPMENTS

The company has done extensive project planning in line with the BID objectives set out in the Luton BID Businesses Plan for delivery of projects from April 2026 - March 2027 and has committed costs for these projects to be supported by the current reserve and future levy collections.

DIRECTORS

DIRECTORS

The directors who served the company on a voluntary basis during the period were as follows:

Mr Gavin O'Brien

Councillor James Taylor

Mr Roy Andrew Greening

Ms Marie Kirbyshaw

Mr Mohammed Abbas Shaffi

Mr Martin Blower

Mr Moses Khombe

Ms Gemma Goodge

Ms Anna Carluccio

Ms Aimee Djengiz

Mr Chris Bell

Mr Lawrence Kay

Ms Jennifer Smith

Ms Laura McCluskey

Mr Gavin O'Brien was appointed as a director on 19 November 2014, re-elected on the 18 May 2016, re-elected on the 25 September 2019 and re-elected again on 27 September 2023.

Mr Roy Greening was appointed as a director on 20 April 2016 and re-elected on the 18 May 2016, re-elected on 26 September 2018, re-elected on 23 September 2020, re-elected on 25 September 2024 and resigned on 26 May 2026.

Councillor James Taylor was appointed as a director on 26 July 2023.

Ms Marie Kirbyshaw was appointed as a director on 4 November 2015, re-elected on 19 July 2017, re-elected again on the 25 September 2019, re-elected again on 27 September 2023, re-elected again on 24 September 2025 and resigned on 21 November 2025.

Mr Abbas Shaffi was appointed as a director 20 April 2016, re-elected on the 18 May 2016, re-elected again on 23 September 2020, re-elected again on 27 September 2023 and re-elected again on 24 September 2025.

Mr M Blower was appointed as a director on the 19 July 2017 and re-elected on 23 September 2020 and 25 September 2024.

Ms Anna Carluccio was appointed as director on the 28 September 2022 and re-elected again on 24 September 2025.

Ms Aimee Djengiz was appointed as director on the 28 September 2022 and re-elected again on 24 September 2025.

Mr Christopher Bell was appointed as director on the 28 September 2022 and re-elected on 25 September 2024. Chris resigned as a director of Luton BID in the 5th June 2025.

Ms Gemma Goodge was co-opted as a director on 27 March 2024 and re-elected on 25 September 2024.

Mr Moses Khombe was co-opted as a director on 22 May 2025 and re-elected on 25 September 2024. Moses ceased being a director on the 26 November 2025.

Mr Lawrence Kay was co-opted as a director on 29 January 2025 and was re-elected at the AGM in September 2025.

Ms Jennifer Smith was co-opted as a director on 29 January 2026 and will be seeking re-election at the AGM in September 2026.

Ms Laura McCluskey was co-opted as a director on 29 January 2026 and will be seeking re-election at the AGM in September 2026.

BID STRATEGY AND OBJECTIVES

Luton BID - The Vision

'Support business growth and investment in the town centre and build pride, loyalty and positive perceptions of Luton.'

Objective 1 - A Great Reputation

Promote and celebrate Luton town centre to increase positive perceptions of the town, locally regionally and nationally.

Objective 2 - A Great Place

Work with organisations and businesses in public, private and voluntary sectors to create a place which looks and feels great for families, the local community, businesses, workers and visitors to our town.

Objective 3 - A Great Business Community

Strive to achieve the best for businesses in Luton town centre, encouraging everyone to work together to create a great working environment, a great place to develop a business and a great business community.

ACTIVITIES PERFORMED IN APRIL 2025 - MARCH 2026 included

Objective 1 - A Great Reputation

•

Social media on all platforms for Luton BID - Facebook, Instagram, Twitter, LinkedIn and Tik Tok.

•

Continuation of short videos and reels to promote events and the Town centre.

•

BID website development.

•

Monthly news column in the local newspaper by BID Manager to showcase all positive things happening in the Town centre.

•

Chaired the Town centre Communications Group with key communications teams within the Town centre to ensure joint up communication continues across the Town.

•

Weekly e-bulletins mailed to businesses with news, updates and details of support.

•

Newsletters sent to businesses three times a year to showcase BID activity.

•

Mystery shopping awards to support businesses in developing great customer service and showcasing excellence.

•

Seasonal, sector specific and student focused marketing campaigns.

Objective 2 - A Great Place

•

Hosted monthly tidy sessions in the Town centre with businesses and local community members, with over 78 people attending across the year and over 60 bin bags of rubbish being collected

•

Florals put in place in June and maintained for the summer season with 51 hanging baskets, 3 barrier baskets, 29 window boxes and 19 three-tier planters.

•

Funding of two Christmas Trees in St George's Square and Market Hill as well as erection of Luton BID's Ramadan Crescent in Hat Garden. We also put up giant poppies on lampposts for the period around Remembrance Day.

•

Support of many town centre events including St Patrick's Day, Luton Lights Up for Christmas and The Halloween Pumpkin Patch.

•

Erected a parklet for the summer period on Market Hill and ran five family summer events.

•

Luton BID chairs and manages LBAC - Luton Business Against Crime, the Town centre Crime Reduction Partnership. Chairing monthly meetings, managing the data sharing intelligence system - DISC and liaising with key partners to tackle crime in the Town centre.

•

Minuting the Luton SAFE Pubwatch meetings and supporting the nighttime economy businesses with encouraging people back into the Town centre.

•

We employ two BID ambassadors whose roles include business engagement and working with partners to help address Antisocial Behaviour. This role also incorporates the support of LBAC and Luton SAFE.

•

Events run by Luton BID with partners included Retro Arcade with Frasers Plus Luton, Meet the Reindeer, Hamper Hunt, Snow Globe and choir and an Easter trail.

•

Supporting safety programmes including e-scooter operation, SABA week, Purple Flag and partnership operation with Bedfordshire Police, Luton Council and Frasers Plus Luton.

•

Luton BID also returned the SOS service in 2026 providing a mobile safe haven giving medical assistance, first aid, and welfare support for late-night revellers and vulnerable individuals in the town centre.

Objective 3 - A Great Business Community

•

Representing BID businesses on the Town centre Strategic Board and Town Centre Task Force

•

Strategic work on the new Town centre Delivery Plan to ensure our work through the BID aligns with the plans for the Town centre.

•

Reporting of footfall and vacancy figures for the town centre.

More information about the activities of Luton BID Ltd (Business Improvement District) in 2025/26 were outlined in an annual report document circulated with the levy invoices to businesses in March 2026 as well as our other newsletters during the year. Copies are available online www.lutonbid.org and from the BID office.

GOVERNANCE AND MANAGEMENT

Luton Business Improvement District (BID) is one of over 350 BIDs throughout the UK. It was created by businesses in the area, and all the projects are determined and steered by local businesses, in line with the BID Business Plan.

Luton BID Ltd is a company limited by guarantee. It is operated under its Memorandum and Articles of Association dated 19 November 2014. It has no share capital and the liability of each member in the event of winding-up is limited to £1.

During the year the focus of the company's activity has been the development of Luton Town centre Business Improvement District. This is being delivered within the requirements of the Business Improvement Districts (England) Regulations 2004.

The 'BID Proposal' was adopted after a successful Ballot in October 2014 and was renewed in November 2019 and again in November 2024 (for full document, see http://www.lutonbid.org). On 16th Sept 2015 the company entered into an operating agreement with Luton Borough Council. Luton Borough Council arranges the collection of the BID Levy from business rate payers in the town centre on behalf of the BID.

The overall management of the company is the responsibility of the directors who are elected and co-opted under the terms of the Articles of Association. Except for one director nominated by Luton Borough Council, directors retire by rotation at Annual General Meetings. The directors work on a voluntary basis, do not charge for their time and have worked on Levy payers' behalf to deliver the BID and achievements to date through the BID Project Team.

Membership of Luton BID Ltd is open to all paid up levy payers and is made up of business representatives from throughout the BID area. The board of the company consists of one nominee from Luton Borough Council together with other Directors appointed by members of the company. It is responsible for the governance of the BID, ensuring that the objectives of the Luton BID business plan are met, and ensuring compliance with the legal and financial regulations governing BIDs.

The Board meets regularly throughout the year, and there is an Annual General Meeting which is usually held September.

At the end of the year there were 422 BID Levy paying businesses and 30 BID Members.

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:

G O'Brien - Director

15 July 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Luton BID Ltd for the year ended 31 March 2026 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Luton BID Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Luton BID Ltd and state those matters that we have agreed to state to the Board of Directors of Luton BID Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Luton BID Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Luton BID Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Luton BID Ltd. You consider that Luton BID Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Luton BID Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Miller & Co

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

15 July 2026

TURNOVER

355,644

372,077

Cost of sales

331,947

373,818

GROSS SURPLUS/(DEFICIT)

23,697

(1,741

)

Administrative expenses

39,955

28,710

(16,258

)

(30,451

)

Other operating income

4

5,000

8,000

OPERATING DEFICIT

(11,258

)

(22,451

)

Interest receivable and similar income

338

572

DEFICIT BEFORE TAXATION

(10,920

)

(21,879

)

Tax on deficit

(44

)

109

DEFICIT FOR THE FINANCIAL YEAR

(10,876

)

(21,988

)

Retained earnings at beginning of year

258,621

280,609

RETAINED EARNINGS AT END OF YEAR

247,745

258,621

FIXED ASSETS

Tangible assets

6

1,278

1,708

CURRENT ASSETS

Debtors

7

27,722

66,441

Cash at bank and in hand

277,352

226,899

305,074

293,340

CREDITORS

Amounts falling due within one year

8

58,607

36,427

NET CURRENT ASSETS

246,467

256,913

TOTAL ASSETS LESS CURRENT LIABILITIES

247,745

258,621

RESERVES

Income and expenditure account

247,745

258,621

247,745

258,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 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 15 July 2026 and were signed on its behalf by:

G O'Brien - Director

1.	STATUTORY INFORMATION

Luton BID Ltd 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, rounded to the nearest pound.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office IT equipment

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Company limited by guarantee

The entity is a private company limited by guarantee and consequently does not have a share capital. Each member is liable to a contribution of an amount not exceeding £1 towards the assets of the company in the event of liquidation.

4.	OTHER OPERATING INCOME

2026

2025

£

£

LBAC Co-Ordinator Support

4,000

4,000

Academic Consultancy Grant

1,000

-

LBC Footfall Monitoring

-

4,000

-----------

-----------

5,000

8,000

-----------

-----------

5.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 1 ) .

6.	TANGIBLE FIXED ASSETS

Office IT

equipment

£

COST

At 1 April 2025

and 31 March 2026

4,901

DEPRECIATION

At 1 April 2025

3,193

Charge for year

430

At 31 March 2026

3,623

NET BOOK VALUE

At 31 March 2026

1,278

At 31 March 2025

1,708

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,326

62,861

Other debtors

26,396

3,580

27,722

66,441

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

43,673

11,971

Taxation and social security

1,065

8,931

Other creditors

13,869

15,525

58,607

36,427

9.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

16,800

3,413

10.	BID MANAGING AGENT

The Luton BID contract is managed by Partnerships for Better Business Ltd as managing agent and they employ the BID manager and project executive on behalf of Luton BID.

11.	BID OBJECTIVES

The successful renewal of the BID for a third term from January 2025 brought with it a set of 3 new objectives to replace the previous 4 objectives under BID 2. The new objectives will focus on Luton as:

Objective 1 - A Great Reputation

Objective 2 - A Great Place

Objective 3 - A Great Business Community