Statutory Explanatory Notices

Statutory Explanatory Notices (SEN) play a vital role in Business Improvement Districts (BIDs). It’s a legally required document that gives Levy Payers a clear, concise summary of the BID’s activities, financial performance, and governance over the past 12 months. Under the Business Improvement Districts (England) Regulations 2004, every BID must issue this notice annually alongside levy bills. The SEN ensures transparency and accountability by actively informing businesses about:

Income and expenditure, including BID levy and external funding
Key projects delivered, such as marketing campaigns, training hubs, and cost-saving schemes
Governance updates, including Board changes and accreditations
Strategic priorities for the upcoming year

We distribute the Statutory Explanatory Notice (SEN) in print with levy bills, upload it to the HCBID website, and share it through our newsletters ensuring every Levy Payer receives it. The SEN isn’t just a summary it’s a statutory tool that reinforces our commitment to transparency and keeps businesses informed and engaged in HCBID’s direction and impact.

The documents below show exactly how we collect, audit, and allocate funds to HCBID projects and services. Independent auditors prepare and verify our accounts, which we present at the AGM and publish online for full public access. This process ensures accountability at every level and gives Levy Payers confidence in how their contributions are used.