Company registration number 01097059 (England and Wales)
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
COMPANY INFORMATION
Directors
C Major
J K Mann
S W Winfield
M J Koster-Marcon
C D Mahady
S C Hill
A Coxon
N N Madhavji
D L Hallybone
A J Kingsley
C M Morrison
A Staneff
P J Wesolowski
M Hudson
J E Doherty
(Appointed 3 November 2022)
S Huber
(Appointed 3 November 2022)
R A G R Harrington
(Appointed 3 November 2022)
Secretary
C J P Wright
Company number
01097059
Registered office
81 Rivington Street
London
EC2A 3AY
Auditor
Gerald Edelman LLP
73 Cornhill
London
EC3V 3QQ
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
CONTENTS
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Income and expenditure account
6
Balance sheet
7
Notes to the financial statements
8 - 14
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2023.

Principal activities

The principal activity of the company continued to be that of activities of business and employers membership organisations.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

C Major
J K Mann
S W Winfield
M J Koster-Marcon
C D Mahady
D Jones
(Resigned 3 November 2022)
S C Hill
G Coleman
(Resigned 1 September 2022)
A Coxon
J Finnan
(Resigned 3 November 2022)
N N Madhavji
D L Hallybone
A J Kingsley
C M Morrison
A Staneff
P J Wesolowski
M Hudson
J E Doherty
(Appointed 3 November 2022)
S Huber
(Appointed 3 November 2022)
R A G R Harrington
(Appointed 3 November 2022)
Auditor

In accordance with the company's articles, a resolution proposing that Gerald Edelman LLP be reappointed as auditor of the company will be put at a General Meeting.

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Going concern

Having reviewed the company’s financial forecasts and expected future cash flows. The directors have a reasonable expectation that the company has adequate resources available to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.

 

The financial statements reflect a resurgence in revenue after a challenging period in 2020 and 2021. The company was able to achieve pre-pandemic results, largely attributable to the conferences that were postponed and rescheduled this year. Additionally, the company was able to maintain strong cash reserves, and the directors are confident that the company will continue to be profitable in the future.

 

Accordingly, the directors continues to adopt the going concern basis in preparing the financial statements for the year ended 31 March 2023.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
S W Winfield
Director
6 October 2023
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
- 3 -
Opinion

We have audited the financial statements of British Educational Suppliers Association (the 'company') for the year ended 31 March 2023 which comprise the income and expenditure account, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We planned our audit so that we have a reasonable expectation of detecting material misstatements in the financial statements resulting from irregularities, fraud or non-compliance with law or regulations.

The extent to which the audit was considered capable of detecting irregularities including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

 

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
- 5 -

Audit response to risks identified

Fraud due to management override

To address the risk of fraud through management bias and override of controls, we:

Irregularities and non-compliance with laws and regulations

In response to the risk of irregularities and non compliance with laws and regulations, we designed procedures which included, but are not limited to:

The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK). Furthermore, the more removed that laws and regulations are from financial transactions, the less likely that we would become aware of non-compliance. Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hiten Patel FCCA
Senior Statutory Auditor
For and on behalf of Gerald Edelman LLP
6 October 2023
Chartered Accountants
Statutory Auditor
73 Cornhill
London
EC3V 3QQ
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
2023
2022
Notes
£
£
Income
3
1,553,659
1,438,153
Cost of sales
(506,728)
(482,052)
Gross surplus
1,046,931
956,101
Administrative expenses
(1,070,543)
(841,622)
Other operating income
25,183
-
0
Operating surplus
1,571
114,479
Interest receivable and similar income
7
1,300
138
Surplus before taxation
2,871
114,617
Tax on surplus
-
0
-
0
Surplus for the financial year
2,871
114,617

The income and expenditure account has been prepared on the basis that all operations are continuing operations.

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 7 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
8
9,492
13,913
Current assets
Debtors
9
703,408
707,169
Cash at bank and in hand
1,064,674
1,159,401
1,768,082
1,866,570
Creditors: amounts falling due within one year
10
(732,528)
(830,800)
Net current assets
1,035,554
1,035,770
Total assets less current liabilities
1,045,046
1,049,683
Provisions for liabilities
11
(186,096)
(193,610)
Net assets
858,950
856,073
Reserves
Called up share capital
12
-
0
-
0
Income and expenditure account
858,950
856,073
Members' funds
858,950
856,073

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 October 2023 and are signed on its behalf by:
S W Winfield
Director
Company Registration No. 01097059
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
1
Accounting policies
Company information

British Educational Suppliers Association is a private company limited by guarantee incorporated in England and Wales. The registered office is 81 Rivington Street, London, EC2A 3AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Having reviewed the company’s financial forecasts and expected future cash flows. The directors have a reasonable expectation that the company has adequate resources available to continue in operational existencetrue for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.

 

The financial statements reflect a resurgence in revenue after a challenging period in 2020 and 2021. The company was able to achieve pre-pandemic results, largely attributable to the conferences that were postponed and rescheduled this year. Additionally, the company was able to maintain strong cash reserves, and the directors are confident that the company will continue to be profitable in the future.

 

Accordingly, the directors continues to adopt the going concern basis in preparing the financial statements for the year ended 31 March 2023.

 

1.3
Income and expenditure

Event/service turnover includes charges (excluding VAT) invoiced to participating members for space and services at exhibitions, missions, seminars and other non-subscription services and is included within the financial statements for the period in which the event has been concluded.

Event/service turnover also consists of grants provided by the Department for Business and Trade ('DBT'). Participating members apply to British Educational Suppliers Association (BESA) for support and then BESA makes these applications to the DBT. The DBT provides BESA with the grants to be issued to participating members in addition to a mark-up, meaning that a small surplus is made on each grant application. Turnover and expenses are included within the financial statements for the period in which the event to which the grants relate has been concluded.

Membership subscriptions are recognised in the year to which they relate. Admission fees are charged at a time a member joins the Association and are recognised in the year of admission.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 9 -

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
Straight line over 10 years
Office equipment
Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 10 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit. However, the company was subject to corporation tax on non-members income and bank interest receivable during the year at the normal UK corporation tax rates.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in surplus or deficit in the period in which it arises.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 11 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in income or expenditure.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There were no significant judgements and key sources of estimation uncertainty.

3
Turnover
An analysis of the company's turnover is as follows:
2023
2022
£
£
Subscriptions
604,606
575,845
Admission fees
3,651
2,500
Event/service turnover
945,402
859,808
1,553,659
1,438,153
2023
2022
£
£
Other significant revenue
Other income
25,183
-
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
4
Exceptional item
2023
2022
£
£
Expenditure
Exceptional item
64,021
-

The exceptional cost relates to one-off legal fees incurred during the year.

5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
11,000
9,000
For other services
Taxation compliance services
1,000
1,000
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
31
27
7
Interest receivable and similar income
2023
2022
£
£
Interest receivable and similar income includes the following:
Interest receivable
1,300
138
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 13 -
8
Tangible fixed assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 April 2022
34,323
102,283
136,606
Additions
-
0
1,643
1,643
At 31 March 2023
34,323
103,926
138,249
Depreciation and impairment
At 1 April 2022
33,783
88,910
122,693
Depreciation charged in the year
275
5,789
6,064
At 31 March 2023
34,058
94,699
128,757
Carrying amount
At 31 March 2023
265
9,227
9,492
At 31 March 2022
540
13,373
13,913
9
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
204,321
239,906
Other debtors
499,087
467,263
703,408
707,169
10
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
136,698
148,617
Taxation and social security
55,133
57,103
Deferred income
485,773
551,752
Other creditors
25,737
5,591
Accruals
29,187
67,737
732,528
830,800
BRITISH EDUCATIONAL SUPPLIERS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 14 -
11
Provisions for liabilities
2023
2022
£
£
Refund provision
186,096
193,610

Event commission income is determined in reference to the historic agreement with the event organiser. The above provision is in relation to the previous years where the event organiser informed BESA of the amount of its share of the income from the show. This commission income is based on the exhibition square meterage. The event organiser informed BESA in August 2018 that the amount they had told BESA to invoice them for over the past six years had been overstated. An agreement has been reached with the event organiser that BESA will make good the overpayment by reducing the future income received from the event organiser in relation to the event by 50% on future events.

12
Members' liability

The association is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the association on winding up such amounts as may be required not exceeding £10.

13
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
252,462
143,304
14
Related party transactions

During the year, the company paid £1,836 (2022 - nil) to from Winfields Bookkeeping Limited (a company owned by a close family member of Simon Winfield) in relation to bookkeeping service.

2023-03-312022-04-01falseCCH SoftwareCCH Accounts Production 2023.300C MajorJ K MannS W WinfieldM J Koster-MarconC D MahadyD JonesS C HillG ColemanA CoxonJ FinnanN N MadhavjiD SandhuD L HallyboneA J KingsleyC M MorrisonA StaneffP J WesolowskiM HudsonJ E DohertyS HuberR A G R HarringtonC J P Wrightfalse010970592022-04-012023-03-3101097059bus:Director12022-04-012023-03-3101097059bus:Director22022-04-012023-03-3101097059bus:Director32022-04-012023-03-3101097059bus:Director42022-04-012023-03-3101097059bus:Director52022-04-012023-03-3101097059bus:Director72022-04-012023-03-3101097059bus:Director92022-04-012023-03-3101097059bus:Director112022-04-012023-03-3101097059bus:Director132022-04-012023-03-3101097059bus:Director142022-04-012023-03-3101097059bus:Director152022-04-012023-03-3101097059bus:Director162022-04-012023-03-3101097059bus:Director172022-04-012023-03-3101097059bus:Director182022-04-012023-03-3101097059bus:Director192022-04-012023-03-3101097059bus:Director202022-04-012023-03-3101097059bus:Director212022-04-012023-03-3101097059bus:CompanySecretary12022-04-012023-03-3101097059bus:Director62022-04-012023-03-3101097059bus:Director82022-04-012023-03-3101097059bus:Director102022-04-012023-03-3101097059bus:Director122022-04-012023-03-31010970592023-03-31010970592021-04-012022-03-31010970592022-03-3101097059core:FurnitureFittings2023-03-3101097059core:ComputerEquipment2023-03-3101097059core:FurnitureFittings2022-03-3101097059core:ComputerEquipment2022-03-3101097059core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3101097059core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3101097059core:CurrentFinancialInstruments2023-03-3101097059core:CurrentFinancialInstruments2022-03-3101097059core:ShareCapital2023-03-3101097059core:ShareCapital2022-03-3101097059core:RetainedEarningsAccumulatedLosses2023-03-3101097059core:RetainedEarningsAccumulatedLosses2022-03-3101097059core:FurnitureFittings2022-04-012023-03-3101097059core:ComputerEquipment2022-04-012023-03-3101097059core:FurnitureFittings2022-03-3101097059core:ComputerEquipment2022-03-31010970592022-03-3101097059core:WithinOneYear2023-03-3101097059bus:CompanyLimitedByGuarantee2022-04-012023-03-3101097059bus:FRS1022022-04-012023-03-3101097059bus:Audited2022-04-012023-03-3101097059bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP