Registration number:
(A company
for the Year Ended
Auker Rhodes Professional Services LLP
Chartered Accountants & Registered Auditors
Aire Valley Business Centre
Lawkholme Lane
Keighley
BD21 3BB
Bradford Breakthrough Limited
Contents
Company Information |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Bradford Breakthrough Limited
Company Information
Directors |
M.K.N.L. Joshi T. Higgins (Chief Executive) C. Mellors (Deputy Chairman) I.R. Gomersall (Chairman) A. Pervez M.N. Sweeney |
Company secretary |
T. Higgins (Chief Executive) |
Registered office |
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Bankers |
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Auditors |
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Bradford Breakthrough Limited
Directors' Report for the Year Ended 31 December 2016
The Directors present their report and the financial statements for the year ended 31 December 2016.
Directors of the Company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is contributing to the economic and social improvement and development of the Bradford District and its involvement in various projects in furtherance of this objective.
Bradford Breakthrough Limited
Directors' Report for the Year Ended 31 December 2016
Business review
Fair review of the business
Bradford Breakthrough’s objective is to make Bradford a better place to live, work and visit and to do business and invest. The company seeks to achieve this through regular meetings, information exchange and networking as well as a coordinated programme of advocacy work.
In 2016 Bradford Breakthrough identified key themes where it sought to influence change to benefit Bradford and its businesses. Its three key themes are -
• Improving the profile and reputation of Bradford
• Improving connectivity and the city centre
• Improving leadership in Bradford
• Improving educational attainment levels in Bradford’s schools
In pursuit of these objectives it has been involved in the following activities:
• This is Bradford - an initiative to improve the profile and reputation of Bradford by inviting groups of journalists and other opinion formers to Bradford to see it for themselves. Working with the cities MPs to ensure a joined up strategy to lobby for Bradford
• Bradford Leadership Programme - in partnership with Bradford Council, a scheme to pair up senior leaders across the city for mentoring and peer to peer coaching to help improve leadership skills
• Connecting Bradford - lobbying for a range of transport improvements including ensuring that the HS3 rail-link comes through Bradford
• Airport Rail Link - Breakthrough played a significant role in advocating for this project with politicians. There seems to be a broad measure of agreement between Bradford, Leeds and other local councils that it is an important priority.
• Northern Powerhouse - Lobbying in support of a Northern Powerhouse and turning the words into reality
• Education - Taking the lead in proposing innovative ways to improve educational attainment levels in the district’s schools
In addition Breakthrough has organised a full programme of meetings and networking opportunities for its members including an annual dinner.
Breakthrough membership has stayed healthy, it currently has 36 members and its financial position has strengthened further allowing it to continue to pursue a range of activities to support its objectives.
Bradford Breakthrough Limited
Directors' Report for the Year Ended 31 December 2016
Disclosure of information to the auditors
Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Auker Rhodes Professional Services LLP as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
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T. Higgins (Chief Executive)
Company secretary and director
Bradford Breakthrough Limited
Statement of Directors' Responsibilities
The Directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the surplus or deficit of the Company for that period. In preparing these financial statements, the Directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Bradford Breakthrough Limited
Independent Auditor's Report to the Members of Bradford Breakthrough Limited
We have audited the financial statements of Bradford Breakthrough Limited for the year ended 31 December 2016, set out on pages 8 to 15. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of Directors and auditor
As explained more fully in the Statement of Directors' Responsibilities (set out on page 5), the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors to the financial statements.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the Company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
Opinion on the financial statements
In our opinion the financial statements:
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give a true and fair view of the state of the Company's affairs as at 31 December 2016 and of its profit for the year then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and |
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have been prepared in accordance with the requirements of the Companies Act 2006. |
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors' report has been prepared in accordance with applicable legal requirements.
Bradford Breakthrough Limited
Independent Auditor's Report to the Members of Bradford Breakthrough Limited
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
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the financial statements are not in agreement with the accounting records and returns; or |
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certain disclosures of Directors’ remuneration specified by law are not made; or |
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we have not received all the information and explanations we require for our audit; or |
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the Directors were not entitled to prepare the financial statements and the Directors' Report in accordance with the small companies regime. |
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For and on behalf of
Aire Valley Business Centre
Lawkholme Lane
BD21 3BB
Bradford Breakthrough Limited
Profit and Loss Account for the Year Ended 31 December 2016
Note |
2016 |
2015 |
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Turnover |
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Administrative expenses |
( |
( |
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Operating surplus |
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Other interest receivable and similar income |
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50 |
56 |
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Surplus before tax |
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Taxation |
( |
( |
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Surplus for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Bradford Breakthrough Limited
Statement of Comprehensive Income for the Year Ended 31 December 2016
Note |
2016 |
2015 |
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Surplus for the year |
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Total comprehensive income for the year |
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Bradford Breakthrough Limited
(Registration number: 02454507)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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T. Higgins (Chief Executive)
Company secretary and director
Bradford Breakthrough Limited
Statement of Changes in Equity for the Year Ended 31 December 2016
Profit and loss account |
Total |
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At 1 January 2016 |
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Surplus for the year |
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Total comprehensive income |
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At 31 December 2016 |
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Profit and loss account |
Total |
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At 1 January 2015 |
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Surplus for the year |
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Total comprehensive income |
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At 31 December 2015 |
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Bradford Breakthrough Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a company limited by guarantee incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. Transition to FRS 102 Section 1A had no impact on the categorisation or amounts in the financial statements.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Bradford Breakthrough Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures. fittings and equipment |
20% on cost (fully written down) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Directors' remuneration |
The directors' remuneration for the year was as follows:
2016 |
2015 |
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Remuneration |
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- |
Bradford Breakthrough Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Auditors' remuneration |
2016 |
2015 |
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Audit of the financial statements |
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Profit before tax |
Arrived at after charging/(crediting)
2016 |
2015 |
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Depreciation expense |
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Taxation |
Tax charged/(credited) in the income statement
2016 |
2015 |
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Current taxation |
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UK corporation tax |
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Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
- |
- |
At 31 December 2015 |
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Bradford Breakthrough Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Debtors |
2016 |
2015 |
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Trade debtors |
- |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
2016 |
2015 |
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Due within one year |
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Other creditors |
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Company status |
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 £10 towards the assets of the company in the event of liquidation.
Control |
The directors are of the opinion that the company is not controlled by any particular individual or entity.