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REGISTERED NUMBER: 06936735 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED

BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED (REGISTERED NUMBER: 06936735)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: S J Schofield
D Croker
W Rose
L J Tebbatt



REGISTERED OFFICE: National Metalforming Centre
47 Birmingham Road
West Bromwich
West Midlands
B70 6PY



REGISTERED NUMBER: 06936735 (England and Wales)



INDEPENDENT AUDITORS: Fields Business Advisors Ltd - Statutory Auditors
2nd Floor
Landchard House
Victoria Street
West Bromwich
West Midlands
B70 8ER



BANKERS: Lloyds Bank Plc
113 The Border
Telford Shopping Centre
Telford
Shropshire
TF3 4AE

BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED (REGISTERED NUMBER: 06936735)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 58,000 -
Tangible assets 5 2,049 11,619
60,049 11,619

CURRENT ASSETS
Debtors 6 135,623 112,114
Cash at bank and in hand 148,044 274,158
283,667 386,272
CREDITORS
Amounts falling due within one year 7 70,675 85,000
NET CURRENT ASSETS 212,992 301,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,041

312,891

RESERVES
Income and expenditure account 273,041 312,891
273,041 312,891

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th October 2023 and were signed on its behalf by:





W Rose - Director


BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED (REGISTERED NUMBER: 06936735)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

British Pump Manufacturers Association 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard.

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts recognised in the financial statements are as detailed below.

Turnover
Turnover consists mainly of members' subscriptions which are recognised in the year to which they relate. Other income, including courses and advertising, is recognised when the relevant service or activity takes place. Turnover excludes value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and fixtures - 25% on reducing balance
Pump System Training Rig - 20% on cost
Office Equipment - 33% on straight line
Motor Vehicles - 25% on reducing balance

Financial instruments
The company only enters into basic financial instrument transactions, that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable. Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED (REGISTERED NUMBER: 06936735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
Contributions payable into pension schemes by the company, on behalf of its employees, are charged to the profit and loss account in the period to which they relate.

Operating leases
Rentals payable under operating leases are charged to the income account on a straight line basis over the period of the lease.

Going concern
The going concern basis remains appropriate in the preparation of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 3 ).

BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED (REGISTERED NUMBER: 06936735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 60,000
At 30th June 2023 60,000
AMORTISATION
Charge for year 2,000
At 30th June 2023 2,000
NET BOOK VALUE
At 30th June 2023 58,000

5. TANGIBLE FIXED ASSETS
Pump
Furniture System
and Training Office Motor
fixtures Rig Equipment vehicles Totals
£    £    £    £    £   
COST
At 1st July 2022 554 9,500 5,975 36,464 52,493
Additions 97 - 2,810 - 2,907
Disposals - - - (36,464 ) (36,464 )
At 30th June 2023 651 9,500 8,785 - 18,936
DEPRECIATION
At 1st July 2022 465 9,500 5,975 24,934 40,874
Charge for year 47 - 900 863 1,810
Eliminated on disposal - - - (25,797 ) (25,797 )
At 30th June 2023 512 9,500 6,875 - 16,887
NET BOOK VALUE
At 30th June 2023 139 - 1,910 - 2,049
At 30th June 2022 89 - - 11,530 11,619

BRITISH PUMP MANUFACTURERS ASSOCIATION
LIMITED (REGISTERED NUMBER: 06936735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st July 2022 36,464
Disposals (36,464 )
At 30th June 2023 -
DEPRECIATION
At 1st July 2022 24,934
Charge for year 863
Eliminated on disposal (25,797 )
At 30th June 2023 -
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 11,530

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,982 83,455
Other debtors 29,641 28,659
135,623 112,114

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 10,813
Trade creditors 19,481 23,800
Taxation and social security 15,786 25,472
Other creditors 35,408 24,915
70,675 85,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stella Louise Broomhall (Senior Statutory Auditor)
for and on behalf of Fields Business Advisors Ltd - Statutory Auditors

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had financial commitments of £14,769 (2022 :£18,444). Payable with one year is £5,658 (2022: £5,169) and within 2 to 5 years £9,111 (2022: £13,275).