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REGISTERED NUMBER: 03320173 (England and Wales)









REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE BCI FORUM LIMITED

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page


Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Consolidated Statement of Income and Retained Earnings 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Notes to the Consolidated Financial Statements 11


THE BCI FORUM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: L R Ali
P Frielinghaus
H L Merchan
G H Redstall
D A Thorp
W Hoekstra
K Blakeley
M H Naden
W J Malik





SECRETARY: M J Poore





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 03320173 (England and Wales)





AUDITORS: Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of acting as a professional institute for business continuity practitioners and the promotion of arts and the science of the business continuity management to governments and commerce on a worldwide basis.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

L R Ali
P Frielinghaus
H L Merchan
G H Redstall
D A Thorp
W Hoekstra
K Blakeley

Other changes in directors holding office are as follows:

P R Baines - resigned 6 May 2023
L Walker - resigned 31 March 2024
M Maneva - resigned 4 October 2023
M H Naden - appointed 1 June 2023
W J Malik - appointed 1 December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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 the group and of the surplus or deficit of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





H L Merchan - Director


8 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE BCI FORUM LIMITED


Opinion
We have audited the financial statements of The BCI Forum Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's deficit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent 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 directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE BCI FORUM LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE BCI FORUM LIMITED


Auditors' 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 a Report of the Auditors 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:

Identifying and assessing potential risks related to irregularities including fraud
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we consider the following:

- the nature of the industry/sector, control environment and financial performance;
- results of our enquiries of management about their own identification and assessment of the risk of
irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected
or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and resource recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

Audit response to risk identified
As a result of performing the above, we identified revenue and resource recognition, estimation techniques and management override of controls as key matters related to the potential risk of fraud or material misstatement. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
- understanding the company's revenue recognition policies and how they are applied, including the relevant
controls and processes and performing a walk-through to validate our understanding;
- performing analytical procedures to compare revenue recognised against expectations, past results, and
management forecasts, and investigated material divergences by obtaining corroborative evidence;
- reading minutes of meetings of those charged with governance and reviewing any correspondence with
HMRC; and

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE BCI FORUM LIMITED

- in addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjustments; assessing whether the judgements made in making accounting
estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions
that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.




Nicholas Jones FCCA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

8 August 2024

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

CONSOLIDATED
STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 2,875,009 2,742,329

Cost of sales 692,137 598,950
GROSS SURPLUS 2,182,872 2,143,379

Administrative expenses 2,448,591 2,111,788
(265,719 ) 31,591

Interest receivable and similar income 3,586 11
(DEFICIT)/SURPLUS BEFORE TAXATION 4 (262,133 ) 31,602

Tax on (deficit)/surplus 5 - -
(DEFICIT)/SURPLUS FOR THE FINANCIAL
YEAR

(262,133

)

31,602

Retained earnings at beginning of year 1,158,973 1,127,371

RETAINED EARNINGS FOR THE GROUP AT
END OF YEAR

896,840

1,158,973

(Deficit)/surplus attributable to:
Owners of the parent (262,133 ) 31,602

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 380,674 346,677
Tangible assets 8 24,523 26,812
Investments 9 4 4
405,201 373,493

CURRENT ASSETS
Stocks 4,427 -
Debtors 10 256,161 309,999
Cash at bank 596,577 930,383
857,165 1,240,382
CREDITORS
Amounts falling due within one year 11 365,526 454,902
NET CURRENT ASSETS 491,639 785,480
TOTAL ASSETS LESS CURRENT LIABILITIES 896,840 1,158,973

RESERVES
Income and expenditure account 896,840 1,158,973
896,840 1,158,973

The 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 8 August 2024 and were signed on its behalf by:





H L Merchan - Director


THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 380,674 346,677
Tangible assets 8 24,523 26,812
Investments 9 4 4
405,201 373,493

CURRENT ASSETS
Stocks 4,427 -
Debtors 10 250,031 301,405
Cash at bank 537,717 878,601
792,175 1,180,006
CREDITORS
Amounts falling due within one year 11 354,752 442,625
NET CURRENT ASSETS 437,423 737,381
TOTAL ASSETS LESS CURRENT LIABILITIES 842,624 1,110,874

RESERVES
Income and expenditure account 842,624 1,110,874
842,624 1,110,874

Company's (loss)/profit for the financial
year

(268,250

)

27,740

The 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 8 August 2024 and were signed on its behalf by:





H L Merchan - Director


THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

The BCI Forum 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 General Information page.

2. ACCOUNTING POLICIES

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

The financial statements are prepared on a going concern basis and presented in Sterling (£) which is the functional currency of the group.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies.

The following principal accounting policies have been applied:

Basis of consolidation
The consolidated financial statements present the results of the company and its trading subsidiary ('the group') as if they form a single entity. Inter-company transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Income and Retained Earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Turnover
Income represents subscriptions from members, activities with members and non-members and other income relating to promoting the art and science of business continuity management.

The main income streams are recognised as follows:

- Subscriptions from individual members on receipt.
- BCI Corporate Partnership income when a contractual obligation to pay arises.
- Income related to a specific period of time or service (such as sponsored research projects) is recognised
in that period.
- Income from CBCI Online courses provided is recognised seven calendar days after the course start date.
All other training activity income is recognised by the date of the activity.
- Exams fees when received.
- Income relating to events (delegate fees and income from exhibitors and sponsors) when the event
occurs.

Amounts received in advance are carried forward and included in current liabilities as deferred income.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

Finance management system development-33% straight line
Educational materials-33% straight line
Customer Relationship Management system-10% straight line

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements-20% straight line
Fixtures and fittings-20% straight line
Office equipment-20% straight line
Computer equipment-33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
The BCI Forum Limited (UK parent company) has the following accounting policy:

The majority of activities are defined as mutual trading activities and therefore no corporation tax liability arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

The Business Continuity Institute (APAC) Pty Ltd (Australian subsidiary company) has the following accounting policy:

Tax is recognised in the Consolidated Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Foreign currencies
Functional and presentation currency
The company's functional and presentational currency is Sterling (£).

Transactions and balances
Foreign currency transactions are translated into the functional currency using the average rate for the month in which the transaction occurred.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling (£) at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period of the lease, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company contributes to the individual defined contribution pension schemes of employees. Contributions are charged to profit or loss in the period to which they relate.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023: 26).

4. (DEFICIT)/SURPLUS BEFORE TAXATION

The deficit (2023 - surplus) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 17,388 20,940
Financial management system development amortisatio 25,859 10,774
Educational materials amortisation 12,139 9,082
Customer relationship management system amortisatio 29,238 28,691
Auditors' remuneration 6,615 8,700
Foreign exchange differences 5,190 (1,900 )
Pension costs 63,470 50,568

5. TAXATION

The majority of activities are defined as mutual trading activities and therefore no corporation tax liability arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


7. INTANGIBLE FIXED ASSETS

Group
Financial Customer
management relationship
system Educational management
development materials system Totals
£    £    £    £   
COST
At 1 April 2023 77,575 304,167 393,757 775,499
Additions - 86,624 14,673 101,297
Disposals - (260,663 ) (135,774 ) (396,437 )
At 31 March 2024 77,575 130,128 272,656 480,359
AMORTISATION
At 1 April 2023 10,774 265,425 152,623 428,822
Amortisation for year 25,859 12,139 29,238 67,236
Eliminated on disposal - (260,599 ) (135,774 ) (396,373 )
At 31 March 2024 36,633 16,965 46,087 99,685
NET BOOK VALUE
At 31 March 2024 40,942 113,163 226,569 380,674
At 31 March 2023 66,801 38,742 241,134 346,677

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. INTANGIBLE FIXED ASSETS - continued

Company
Financial Customer
management relationship
system Educational management
development materials system Totals
£    £    £    £   
COST
At 1 April 2023 77,575 304,167 393,757 775,499
Additions - 86,624 14,673 101,297
Disposals - (260,663 ) (135,774 ) (396,437 )
At 31 March 2024 77,575 130,128 272,656 480,359
AMORTISATION
At 1 April 2023 10,774 265,425 152,623 428,822
Amortisation for year 25,859 12,139 29,238 67,236
Eliminated on disposal - (260,599 ) (135,774 ) (396,373 )
At 31 March 2024 36,633 16,965 46,087 99,685
NET BOOK VALUE
At 31 March 2024 40,942 113,163 226,569 380,674
At 31 March 2023 66,801 38,742 241,134 346,677

8. TANGIBLE FIXED ASSETS

Group
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2023 9,440 50,567 60,007
Additions - 15,099 15,099
Disposals (9,440 ) (11,802 ) (21,242 )
At 31 March 2024 - 53,864 53,864
DEPRECIATION
At 1 April 2023 9,440 23,755 33,195
Charge for year - 17,388 17,388
Eliminated on disposal (9,440 ) (11,802 ) (21,242 )
At 31 March 2024 - 29,341 29,341
NET BOOK VALUE
At 31 March 2024 - 24,523 24,523
At 31 March 2023 - 26,812 26,812

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. TANGIBLE FIXED ASSETS - continued

Company
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2023 9,440 50,567 60,007
Additions - 15,099 15,099
Disposals (9,440 ) (11,802 ) (21,242 )
At 31 March 2024 - 53,864 53,864
DEPRECIATION
At 1 April 2023 9,440 23,755 33,195
Charge for year - 17,388 17,388
Eliminated on disposal (9,440 ) (11,802 ) (21,242 )
At 31 March 2024 - 29,341 29,341
NET BOOK VALUE
At 31 March 2024 - 24,523 24,523
At 31 March 2023 - 26,812 26,812

9. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 4
NET BOOK VALUE
At 31 March 2024 4
At 31 March 2023 4

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 4
NET BOOK VALUE
At 31 March 2024 4
At 31 March 2023 4

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

The Business Continuity Institute Limited
Registered office: Windover House, St. Ann Street, Salisbury, SP1 2DR
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

BC Institute India Private Limited
Registered office: 39/4718, Sreekandath road, Ravipuram Kochi Ernakulam KL 682016 IN
Nature of business: Professional institute for business continuity
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (6,701 ) (5,345 )
Loss for the year (1,356 ) (947 )

The BCI Forum Ireland Limited
Registered office: First Floor, Penrose 1, Penrose Dock, Cork, T23 KW81
Nature of business: Professional institute for business continuity
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (11,755 ) (8,661 )
Loss for the year (3,094 ) (6,470 )

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. FIXED ASSET INVESTMENTS - continued

The Business Continuity Institute (APAC) Pty Ltd
Registered office: Hornsby, New South Wales 2077, Australia
Nature of business: Professional institute for business continuity
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 54,227 48,088
Profit for the year 6,139 3,850


The Business Continuity Institute Limited, BC Institute Private Limited and The BCI Forum Ireland Limited have been excluded from the consolidated financial statements on the basis that they are immaterial to the group.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 134,533 193,820 128,792 185,634
Other debtors 121,628 116,179 121,239 115,771
256,161 309,999 250,031 301,405

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 43,918 106,084 42,709 106,084
Amounts owed to group undertakings - - 1,372 1,594
Taxation and social security 66,914 47,885 64,281 44,911
Other creditors 254,694 300,933 246,390 290,036
365,526 454,902 354,752 442,625

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

THE BCI FORUM LIMITED (REGISTERED NUMBER: 03320173)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,456 66,940
Between one and five years 72,912 -
109,368 66,940

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,456 66,940
Between one and five years 72,912 -
109,368 66,940

13. PENSION COMMITMENTS

The company contributes to the individual defined contribution pension schemes of employees.

The pension cost charge represents contributions payable by the company and amounted to £63,470 (2023: £50,568). Contributions totalling £10,173 (2023: £9,674) were payable at the balance sheet date.

14. ULTIMATE CONTROLLING PARTY

The group is not under the control of any single controlling party.

15. LIMITED BY GUARANTEE

The company is a not for profit organisation limited by guarantee. The liability of members in the event of a winding up is limited by guarantee to an amount not exceeding £1 per member.