Company No:
Contents
DIRECTORS | Helen Brenton |
Martin Brook | |
Pippa Craddock | |
Richard Cuming | |
Carolyn Custerson | |
Claire Flower | |
Jason Garside | |
Timothy Godfrey | |
Christopher Hart | |
Simon Jolly | |
Kevin Mowat | |
Anthony Payne-Neale | |
Kelly Widley | |
REGISTERED OFFICE | 5 Vaughan Parade |
Torquay | |
Devon | |
England | |
TQ2 5JG | |
United Kingdom | |
COMPANY NUMBER | 10237792(England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
Century House | |
Nicholson Road | |
Torquay | |
TQ2 7TD |
2020 | 2019 | |||
Note | £ | £ | ||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
5,065 | 4,228 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
273,907 | 237,115 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
|
(
|
|
Net current assets | 168,191 | 71,322 | ||
Total assets less current liabilities | 173,256 | 75,550 | ||
Net assets |
|
|
||
Reserves | ||||
Profit and loss account |
|
|
||
Total reserves |
|
|
Directors’ responsibilities:
The financial statements of English Riviera Bid Company Limited (registered number:
Timothy Godfrey
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
English Riviera Bid Company Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Vaughan Parade, Torquay, Devon, England, TQ2 5JG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of English Riviera Bid Company Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Office equipment - 20%
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2020 | 2019 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2020 |
|
|
|
Additions |
|
|
|
At 31 December 2020 |
|
|
|
Accumulated depreciation | |||
At 01 January 2020 |
|
|
|
Charge for the financial year |
|
|
|
At 31 December 2020 |
|
|
|
Net book value | |||
At 31 December 2020 |
|
|
|
At 31 December 2019 |
|
|
2020 | 2019 | ||
£ | £ | ||
Trade debtors |
|
|
|
Prepayments |
|
|
|
VAT recoverable |
|
|
|
Other debtors |
|
|
|
|
|
2020 | 2019 | ||
£ | £ | ||
Trade creditors |
|
|
|
Other creditors |
|
|
|
Accruals |
|
|
|
Other taxation and social security |
|
|
|
|
|
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
2020 | 2019 | ||
£ | £ | ||
- within one year |
|
|
|
- between one and five years |
|
|
|
|
|
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
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.