COMPANY REGISTRATION NUMBER:
07889072
Northfield Town Centre Bid Limited
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Company Limited by Guarantee
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Filleted Unaudited Financial Statements
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Northfield Town Centre Bid Limited
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Company Limited by Guarantee
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Statement of Financial Position
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31 March 2020
Current assets
Debtors
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6
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–
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2,314
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Cash at bank and in hand
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55,203
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22,759
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--------
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--------
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55,203
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25,073
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Creditors: amounts falling due within one year
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7
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2,710
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2,443
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--------
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--------
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Net current assets
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52,493
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22,630
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--------
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--------
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Total assets less current liabilities
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52,493
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22,630
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--------
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--------
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Capital and reserves
Profit and loss account
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52,493
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22,630
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--------
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--------
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Members funds
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52,493
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22,630
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--------
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--------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
1 July 2020
, and are signed on behalf of the board by:
Company registration number:
07889072
Northfield Town Centre Bid Limited
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Company Limited by Guarantee
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Notes to the Financial Statements
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Year ended 31 March 2020
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 693 Bristol Road South, Northfield, Birmingham, B31 2JT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Company limited by guarantee
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2019:
3
).
6.
Debtors
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2020
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2019
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£
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£
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Other debtors
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–
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2,314
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----
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-------
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7.
Creditors:
amounts falling due within one year
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2020
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2019
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£
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£
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Social security and other taxes
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1,760
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1,543
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Other creditors - desc in a/cs
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-------
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-------
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2,710
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2,443
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-------
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-------
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8.
Related party transactions
The company was under the control of the directors throughout the current period. No transactions with related parties were undertaken such as are required to be disclosed under.