Greater Yarmouth Tourism & Business Impr - Accounts to registrar (filleted) - small 23.2.5

Greater Yarmouth Tourism & Business Impr - Accounts to registrar (filleted) - small 23.2.5

GREATER YARMOUTH TOURISM & BUSINESS IMPROVEMENT AREA LTD - Company Information

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REGISTERED NUMBER: 03090229 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Greater Yarmouth Tourism & Business
Improvement Area Ltd
Greater Yarmouth Tourism & Business
Improvement Area Ltd (Registered number: 03090229)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


Greater Yarmouth Tourism & Business
Improvement Area Ltd (Registered number: 03090229)

Balance Sheet
30 September 2023

2023 2022
Notes £ £
Current assets
Debtors 5 12,822 72,551
Cash at bank 658,783 490,765
671,605 563,316
Creditors
Amounts falling due within one year 6 (608,111 ) (457,669 )
Net current assets 63,494 105,647
Total assets less current liabilities 63,494 105,647

Reserves
Retained earnings 63,494 105,647
Members' funds 63,494 105,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 profit or loss 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 and authorised for issue on 5 April 2024 and were signed on its behalf by:




Mr M A Smith - Director


The notes form part of these financial statements

1
Greater Yarmouth Tourism & Business
Improvement Area Ltd (Registered number: 03090229)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. Statutory information

Greater Yarmouth Tourism & Business Improvement Area Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03090229

Registered office: East Coast House
Galahad Road
Gorleston
Great Yarmouth
Norfolk
NR31 7RU

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2
Greater Yarmouth Tourism & Business
Improvement Area Ltd (Registered number: 03090229)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairments at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employees and directors

The average number of employees during the year was 23 (2022 - 24 ) .

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 1,200 25,428
Other debtors 11,622 47,123
12,822 72,551

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 429,480 432,149
Taxation and social security 3,178 3,159
Other creditors 175,453 22,361
608,111 457,669

7. Company limited by guarantee

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 £1 towards the assets of the company in the event of liquidation.

3