Company Registration No. 10231689 (England and Wales)
Putney Bidco Limited
Unaudited accounts
for the year ended 31 March 2023
Putney Bidco Limited
Unaudited accounts
Contents
Putney Bidco Limited
Company Information
for the year ended 31 March 2023
Directors
Nicola Jane Grant
Veronika Noble Wilson
Anthony Hicks
Shweta Razdan
Robert Benjamin Chamberlain Lusher
Dominic Charles Stead
Judith Chegwidden -Observer
Councillor Akinola Kemi
Mr Jamie Catling
Company Number
10231689 (England and Wales)
Registered Office
PUTNEY BID OFFICE, CREWROOM STUDIOS EMBA
PUTNEY
LONDON
SW15 1LB
ENGLAND
Accountants
Business Clan Ltd
16 West Barnes Lane
West Wimbledon
London
SW20 0BU
Putney Bidco Limited
Statement of financial position
as at 31 March 2023
Intangible assets
18,000
-
Cash at bank and in hand
163,997
14,956
Creditors: amounts falling due within one year
(25,844)
(13,948)
Net current assets
147,247
30,004
Profit and loss account
165,247
32,702
Members' funds
165,247
32,702
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2023 and were signed on its behalf by
Veronika Noble Wilson
Director
Company Registration No. 10231689
Putney Bidco Limited
Notes to the Accounts
for the year ended 31 March 2023
Putney Bidco Limited is a private company, limited by guarantee, registered in England and Wales, registration number 10231689. The registered office is PUTNEY BID OFFICE, CREWROOM STUDIOS EMBA, PUTNEY, LONDON, SW15 1LB, ENGLAND.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Putney Bidco 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
This amount relates to the new Website which is in the process of completion and will be written off over the remaining 4 year term of the BID.
Putney Bidco Limited
Notes to the Accounts
for the year ended 31 March 2023
Putney BIDCO Limited, trading as Positively Putney BID is the business improvement district for Putney town centre. The results for the year and the financial position of the company are as shown below. Total levy income collected for 2022-2023 was £298,554 (Previous year 2021-2022 was £215,634), with a levy rate of 1.25% of RV’s from 2017 ratings list.
A further £44,271 was collected towards previous years' outstanding levy debt, so the total BID levy collected in this period was £342,825.
2022/2023 was the first year of the BIDS second five year term.
We have delivered projects and services with three main aims:
Promoting Putney as a welcoming place to shop, live and work
Enhancing Putney making sure it is as a safe, clean and attractive town centre
Supporting Putney businesses.
The total income earned £404,593 (including BID levy income, grants and other income) less total expenses £272,048 resulted in a net surplus of £132,545 for the current accounting period from 01.04.2022 to 31.03.2023.
The cash balance has increased from £14,956 (as at 31.03.2022) to £163,997 (as at 31.03.2023) showing the BID has surplus balance funds from this year.
The opening balance for the Capital and Reserves was £32,702 which has increased to £165,247 as a result of the surplus incurred in the current year.
The annual accounts were presented at the AGM on 15th June 2023 (Previous year 16th June, 2022) and approved by the BID Board of directors on Thursday 20 July 2023.
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Intangible fixed assets
Total
Putney Bidco Limited
Notes to the Accounts
for the year ended 31 March 2023
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Tangible fixed assets
Total
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Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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Average number of employees
During the year the average number of employees was 4 (2022: 4).