Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01No description of principal activity1211falsetrue 00417640 2023-01-01 2023-12-31 00417640 2022-01-01 2022-12-31 00417640 2023-12-31 00417640 2022-12-31 00417640 c:CompanySecretary1 2023-01-01 2023-12-31 00417640 c:Director1 2023-01-01 2023-12-31 00417640 c:Director2 2023-01-01 2023-12-31 00417640 c:Director3 2023-01-01 2023-12-31 00417640 c:Director4 2023-01-01 2023-12-31 00417640 c:Director6 2023-01-01 2023-12-31 00417640 c:Director7 2023-01-01 2023-12-31 00417640 c:Director8 2023-01-01 2023-12-31 00417640 c:Director10 2023-01-01 2023-12-31 00417640 c:Director12 2023-01-01 2023-12-31 00417640 c:Director15 2023-01-01 2023-12-31 00417640 c:Director16 2023-01-01 2023-12-31 00417640 c:RegisteredOffice 2023-01-01 2023-12-31 00417640 c:Agent1 2023-01-01 2023-12-31 00417640 d:FurnitureFittings 2023-01-01 2023-12-31 00417640 d:FurnitureFittings 2023-12-31 00417640 d:FurnitureFittings 2022-12-31 00417640 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00417640 d:CurrentFinancialInstruments 2023-12-31 00417640 d:CurrentFinancialInstruments 2022-12-31 00417640 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00417640 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00417640 d:RetainedEarningsAccumulatedLosses 2023-12-31 00417640 d:RetainedEarningsAccumulatedLosses 2022-12-31 00417640 c:FRS102 2023-01-01 2023-12-31 00417640 c:Audited 2023-01-01 2023-12-31 00417640 c:FullAccounts 2023-01-01 2023-12-31 00417640 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 00417640 d:WithinOneYear 2023-12-31 00417640 d:WithinOneYear 2022-12-31 00417640 d:BetweenOneFiveYears 2023-12-31 00417640 d:BetweenOneFiveYears 2022-12-31 00417640 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00417640 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 00417640 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 00417640 d:RetirementBenefitObligationsDeferredTax 2023-12-31 00417640 d:RetirementBenefitObligationsDeferredTax 2022-12-31 00417640 d:OtherDeferredTax 2023-12-31 00417640 d:OtherDeferredTax 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 00417640







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)






































                        

 
INTERNATIONAL LEAD ASSOCIATION
 
(A Company Limited by Guarantee)
 
 
OFFICERS AND PROFESSIONAL ADVISERS


Members of the Committee
A M Bush 
F J V Steinkeller 
D D Breidegam 
W De Vos 
K Kurz 
F Kanth 
D Leach 
C Rosenkranz 
R Tsonev 
R Reid 
S Scruggs 




Company secretary
A M Bush



Registered number
00417640



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Independent auditors
Cooper Parry Group Limited
Chartered Accountants & Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA




Bankers
Lloyds Bank plc
84 Park Lane

London

W1Y 4BX





 
INTERNATIONAL LEAD ASSOCIATION
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 13

 
INTERNATIONAL LEAD ASSOCIATION
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00417640

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,551
13,106

  
11,551
13,106

Current assets
  

Debtors: amounts falling due within one year
 5 
1,101,637
1,154,698

Bank and cash balances
  
2,973,139
2,885,516

  
4,074,776
4,040,214

Creditors: amounts falling due within one year
 6 
(2,218,368)
(2,038,183)

Net current assets
  
 
 
1,856,408
 
 
2,002,031

Total assets less current liabilities
  
1,867,959
2,015,137

Provisions for liabilities
  

Deferred tax
 7 
(149,636)
(121,223)

  
 
 
(149,636)
 
 
(121,223)

Pension asset
 9 
603,000
488,000

Net assets
  
2,321,323
2,381,914


Capital and reserves
  

Income and expenditure account
  
2,321,323
2,381,914

  
2,321,323
2,381,914


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

................................................
F J V Steinkeller
Member
Date: 9 September 2024

The notes on pages 2 to 13 form part of these financial statements.

Page 1

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

International Lead Association is a private company limited by guarantee, domiciled in England and Wales, registration number 00417640. 
The principal place of business is 120 New Cavendish Street, London, W1W 6XX
The registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover includes subscriptions, conference income and project management fees received for the year net of VAT. Turnover is recognised in the accounts in line with the subscription period or when the event has occurred.

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. 

Page 2

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Statement of Financial Position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

  
2.5

Co-ordinated projects

The Association acts as a co-ordinator for projects undertaken for the benefit of the lead industry and manages the assets and liabilities associated with these projects. As the Association does not control these assets and liabilities, in accordance with Financial Reporting Standard 102 they have been excluded from the balance sheet.

Page 3

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

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:

Fixtures and fittings
-
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.

  
2.8

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

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.

Page 4

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.9

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease.

  
2.10

Going concern

These financial statements have been prepared on a going concern basis. 
The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. 
The Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios alongside measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. 

  
2.11

Significant judgements and estimates

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Directors' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
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, if the revision affects only that period,
or in the period of the revision and future periods, if the revision affects both current and future periods.
Defined benefit scheme
The present value of the Defined Benefit Scheme asset depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 9, will impact the carrying amount of the pension asset.

Page 5

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.12

Financial instruments

Financial assets and liabilities - classified as basic financial instruments
 
(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.
 
(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for
impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.
 
At the end of each reporting period, the company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.
 
(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction price, including any transaction costs, and subsequently measured at amortised cost using the
effective interest method.


3.


Employees

The average monthly number of employees during the year was as follows:


        2023
        2022
            No.
            No.







Employees
12
11

Page 6

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
36,440


Additions
6,978



At 31 December 2023

43,418



Depreciation


At 1 January 2023
23,334


Charge for the year on owned assets
8,533



At 31 December 2023

31,867



Net book value



At 31 December 2023
11,551



At 31 December 2022
13,106

Page 7

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
816,952
959,551

Amounts owed by connected companies
20,276
19,966

Other debtors
67,356
54,472

Prepayments and accrued income
197,053
120,709

1,101,637
1,154,698



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,170,295
910,682

Amounts owed to connected companies
641,224
641,681

Corporation tax
6,429
4,859

Other taxation and social security
102,312
88,774

Other creditors
188,362
261,074

Accruals and deferred income
109,746
131,113

2,218,368
2,038,183


Page 8

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Deferred taxation




2023


£






At beginning of year
(121,223)


Charged to profit or loss
(5,413)


Charged to other comprehensive income
(23,000)



At end of year
(149,636)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,512)
(2,818)

Pension surplus
(153,000)
(123,000)

Accrued pension contributions
5,876
4,595

(149,636)
(121,223)



8.


Company limited by guarantee

The Association is a company limited by guarantee. The liability of the members being limited to £5 in the event of the winding up of the Association. 

Page 9

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Pension commitments

The company operates a Defined Contributions Pension Scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £87,928 (2022 - £80,965). Contributions totalling £25,545 (2022 - £20,160) were payable to the fund at the reporting date.

The Company operates a Defined Benefit Pension Scheme.

The assets of the scheme are held separately from those of the Company. The scheme closed to new entrants on 30 June 2007. During the year a contribution of £50,000 was paid into the scheme (2022 - £50,000). The actuarial valuation to 31 December 2023 was carried out by Mercer on 6 March 2024.



Reconciliation of present value of plan liabilities:


2023
2022
£
£

Reconciliation of present value of plan liabilities


At the beginning of the year
2,158,000
3,070,000

Interest cost
105,000
54,000

Actuarial (gains)/losses
4,000
(856,000)

Benefits paid
(216,000)
(110,000)

At the end of the year
2,051,000
2,158,000


Composition of plan assets:


2023
2022
£
£


Invested assets
2,158,000
3,270,000

Invested pensions
(107,000)
(1,112,000)

Total plan assets
2,051,000
2,158,000

2023
2022
£
£


Fair value of plan assets
2,654,000
2,646,000

Present value of plan liabilities
(2,051,000)
(2,158,000)

Net pension scheme asset
603,000
488,000
Page 10

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
9.Pension commitments (continued)


The amounts recognised in profit or loss are as follows:

2023
2022
£
£


Interest on obligation
(105,000)
(54,000)

Interest income on plan assets
131,000
58,000

Total
26,000
4,000


Actual return on scheme assets
(174,000)
514,000

(174,000)
514,000


Reconciliation of fair value of plan assets were as follows:

2023
2022
£
£


Opening fair value of scheme assets
2,646,000
3,270,000

Interest income on plan assets
131,000
58,000

Employer contributions
50,000
50,000

Actuarial gains and (losses)
43,000
(622,000)

Benefits paid
(216,000)
(110,000)

2,654,000
2,646,000


The Company has contributed £50,000 to its Defined Benefit Pension Scheme in 2024.

2023
2022
£
£

Analysis of actuarial loss recognised in Other Comprehensive Income


Actual return less interest income included in net interest income
43,000
(622,000)

Experience gains and losses arising on the scheme liabilities
10,000
(148,000)

Changes in assumptions underlying the present value of the scheme liabilities
(14,000)
1,004,000

39,000
234,000
Page 11

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
9.Pension commitments (continued)


Principal actuarial assumptions at the reporting date (expressed as weighted averages):

2023
2022
%
%
Discount rate


4.8

5.1
 
Future pension increases


3.4

3.5
 
Inflation assumption


2.95

3.0
 
Mortality rates



 
- for a male aged 62 now


25.6

26.2
 
- at 62 for a male aged 42 now


25.2

25.9
 
- for a female aged 62 now


27.6

28.1
 
- at 62 for a female member aged 42 now


27.3

27.9
 






10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
38,600
152,565

Later than 1 year and not later than 5 years
-
38,600

38,600
191,165

Since the balance sheet date the company has renewed the above lease with a total 2 year commitment of £332,374.


11.


Related party transactions

Members of the company are also members of ILA 2 (formerly International Lead Association).
At the balance sheet date the Association owed to ILA 2  £622,612 (2022: £622,612).

Page 12

 
INTERNATIONAL LEAD ASSOCIATION

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Co-ordinated projects

The Association co-ordinates projects for the benefits of the lead industry.
The Association received an annual management fee amounting to £461,263 (2022: £420,631) for co-ordinating these projects.
The Association incurred expenditure from the International Lead Association Inc of £754,068 (2022: £670,153) during the year.
At the year end the Association owed £322,101 (2022: £459,042) to the International Lead Association Inc.
The Association co-ordinates projects for Consortium for Battery Innovation and European Advanced Lead Acid Battery Consortium. At the year end the Association owed £320,017 to the Consortium for Battery Innovation (2022: £200,446 owed by Consortium for Battery Innovation).
The association co-ordinates projects for the Lead REACH Consortium. At the year end the association was owed £20,276 (2022: £19,966) by the Lead REACH Consortium.
The Association co-ordinates projects for the VLRA Programme. At the year end the Association owed £18,612 (2022: £19,069) to the VLRA Programme.
 


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 9 September 2024 by Chris Evans FCA (Senior Statutory Auditor) on behalf of Cooper Parry Group Limited.

 
Page 13