Bromley Bid Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08974724 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

BROMLEY BID LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Miss M J Ross

G J Weir

A M Bawn

C Glover

D Springer

K Perera

M G Haynes

REGISTERED OFFICE:

The Master's House

19 Lower Brook Street

Ipswich

Suffolk

IP4 1AQ

BUSINESS ADDRESS:

506 City South

26 Elmfield Road

Bromley

BR1 1LR

REGISTERED NUMBER:

08974724 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

FIXED ASSETS

Tangible assets

3

684

2,127

CURRENT ASSETS

Debtors

4

46,945

86,661

Cash at bank

144,136

105,929

191,081

192,590

CREDITORS

Amounts falling due within one year

5

106,997

69,854

NET CURRENT ASSETS

84,084

122,736

TOTAL ASSETS LESS CURRENT LIABILITIES

84,768

124,863

RESERVES

Income and expenditure account

84,768

124,863

MEMBERS' FUNDS

84,768

124,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23 October 2019 and were signed on its behalf by:

A M Bawn - Director

1.	STATUTORY INFORMATION

Bromley 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 (£).

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.

Turnover

Turnover represents levy payments received from businesses in the Bromley Business Improvement

District (the "BID"), voluntary contributions and other income generated in the course of promoting

Bromley Town Centre.

Levy overpayments are informed to levy payers but subsequently treated as income if not reclaimed

within a reasonable timescale. Levy overpayments are always repaid when requested even if they had

been previously recognised as income.

Grants of a revenue nature are credited to the Income Statement in the year in which they accrue.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable and bank facilities.

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 the 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 Statement of

Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2018

and 31 March 2019

4,329

DEPRECIATION

At 1 April 2018

2,202

Charge for year

1,443

At 31 March 2019

3,645

NET BOOK VALUE

At 31 March 2019

684

At 31 March 2018

2,127

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

301

59,928

Other debtors

46,644

26,733

46,945

86,661

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

53,019

33,545

Taxation and social security

6

-

Other creditors

53,972

36,309

106,997

69,854

6.	LEASING AGREEMENTS

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

2019

2018

£

£

Within one year

43,030

43,030

Between one and five years

86,060

129,090

129,090

172,120

The above payments relate to the committed supply and installation of Festive Lighting for a further

two years until the end of the BID term.

7.	LIMITED BY GUARANTEE

The company is limited by guarantee. The directors have an interest as guarantors for an amount not

exceeding £1. Each member of the company under clause 2 of the Memorandum of Association has

agreed to contribute up to £1 in the event of a winding up.