| Newquay BID Ltd |
|
| Report to the directors on the preparation of the unaudited abbreviated accounts of Newquay BID Ltd for the year ended 31 March 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Newquay BID Ltd for the year ended 31 March 2016 which comprise of the balance sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| This report is made solely to the Board of Directors of Newquay BID Ltd, as a body, in accordance with the terms of our engagement letter dated 8 May 2012. Our work has been undertaken solely to prepare for your approval the accounts of Newquay BID Ltd and state those matters that we have agreed to state to the Board of Directors of Newquay BID Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newquay BID Ltd and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Newquay BID Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Newquay BID Ltd. You consider that Newquay 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 accounts of Newquay 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 abbreviated accounts. |
|
| Crane and Johnston |
| Chartered Certified Accountants |
| 30/32 Trebarwith Crescent |
| Newquay |
| Cornwall |
| TR7 1DX |
|
| 15 July 2016 |
|
| Newquay BID Ltd |
| Registered number: |
07513309 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
62,342 |
|
|
47,810 |
|
| Current assets |
| Debtors |
|
|
9,332 |
|
|
7,003 |
| Cash at bank and in hand |
|
|
20,830 |
|
|
28,374 |
|
|
|
30,162 |
|
|
35,377 |
|
| Creditors: amounts falling due within one year |
|
|
(10,630) |
|
|
(10,687) |
|
| Net current assets |
|
|
|
19,532 |
|
|
24,690 |
|
| Net assets |
|
|
|
81,874 |
|
|
72,501 |
|
|
|
|
|
|
|
|
| Reserves |
| Income and expenditure account |
|
|
|
81,874 |
|
|
72,501 |
|
| Member's funds |
|
|
|
81,874 |
|
|
72,501 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| ……………….. |
| Director |
| Approved by the board on 22 June 2016 |
|
| Newquay BID Ltd |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the BID Levy fees received from local businesses towards improving the local business district within Newquay. The recharged expenses represent contributions towards salary costs and the footfall camera. |
|
|
Going Concern |
|
The original BID 5 year scheme finished in this year. However in December 2015 a ballot was held and the scheme was approved for a further 5 years. |
|
Grants received |
|
Grants received have been set against relevant expenditure where specific and known. |
|
|
Signage |
|
The cost of the signage during the year has been capitalised net of any grants received. It is being depreciated over 20 years. Once the BID ceases the ownership of these assets will be transferred to Newquay Town Council. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Signage in Plant & Machinery |
5% straight line |
|
Computer Equipment |
33% straight line |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
49,788 |
|
Additions |
17,929 |
|
At 31 March 2016 |
67,717 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
1,978 |
|
Charge for the year |
3,397 |
|
At 31 March 2016 |
5,375 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
62,342 |
|
At 31 March 2015 |
47,810 |
|
|
|
|
|
|
|
