Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-012023-05-012023-05-012023-05-01false2023-04-0137falseNo description of principal activity37truefalse 00979689 2023-04-01 2024-03-31 00979689 2022-04-01 2023-03-31 00979689 2024-03-31 00979689 2023-03-31 00979689 1 2023-04-01 2024-03-31 00979689 1 2022-04-01 2023-03-31 00979689 d:CompanySecretary1 2023-04-01 2024-03-31 00979689 d:Director1 2023-04-01 2024-03-31 00979689 d:Director2 2023-04-01 2024-03-31 00979689 d:Director2 2024-03-31 00979689 d:Director3 2023-04-01 2024-03-31 00979689 d:Director4 2023-04-01 2024-03-31 00979689 d:Director4 2024-03-31 00979689 d:Director5 2023-04-01 2024-03-31 00979689 d:Director6 2023-04-01 2024-03-31 00979689 d:Director7 2023-04-01 2024-03-31 00979689 d:Director7 2024-03-31 00979689 d:Director8 2023-04-01 2024-03-31 00979689 d:Director9 2023-04-01 2024-03-31 00979689 d:Director9 2024-03-31 00979689 d:Director10 2023-04-01 2024-03-31 00979689 d:Director10 2024-03-31 00979689 d:Director11 2023-04-01 2024-03-31 00979689 d:Director11 2024-03-31 00979689 d:Director12 2023-04-01 2024-03-31 00979689 d:Director12 2024-03-31 00979689 d:Director13 2023-04-01 2024-03-31 00979689 d:Director13 2024-03-31 00979689 d:Director14 2023-04-01 2024-03-31 00979689 d:Director14 2024-03-31 00979689 d:Director15 2023-04-01 2024-03-31 00979689 d:Director15 2024-03-31 00979689 d:RegisteredOffice 2023-04-01 2024-03-31 00979689 e:OfficeEquipment 2023-04-01 2024-03-31 00979689 e:OfficeEquipment 2024-03-31 00979689 e:OfficeEquipment 2023-03-31 00979689 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00979689 e:ComputerEquipment 2023-04-01 2024-03-31 00979689 e:ComputerEquipment 2024-03-31 00979689 e:ComputerEquipment 2023-03-31 00979689 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00979689 e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00979689 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 00979689 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 00979689 e:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 00979689 e:ComputerSoftware 2024-03-31 00979689 e:ComputerSoftware 2023-03-31 00979689 e:CurrentFinancialInstruments 2024-03-31 00979689 e:CurrentFinancialInstruments 2023-03-31 00979689 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 00979689 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 00979689 e:OtherMiscellaneousReserve 2023-04-01 2024-03-31 00979689 e:OtherMiscellaneousReserve 2024-03-31 00979689 e:OtherMiscellaneousReserve 2023-03-31 00979689 e:RetainedEarningsAccumulatedLosses 2024-03-31 00979689 e:RetainedEarningsAccumulatedLosses 2023-03-31 00979689 d:FRS102 2023-04-01 2024-03-31 00979689 d:Audited 2023-04-01 2024-03-31 00979689 d:FullAccounts 2023-04-01 2024-03-31 00979689 d:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 00979689 e:WithinOneYear 2024-03-31 00979689 e:WithinOneYear 2023-03-31 00979689 e:BetweenOneFiveYears 2024-03-31 00979689 e:BetweenOneFiveYears 2023-03-31 00979689 e:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-03-31 00979689 e:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-03-31 00979689 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:WithinOneYear 2024-03-31 00979689 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:WithinOneYear 2023-03-31 00979689 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:BetweenOneFiveYears 2024-03-31 00979689 e:PlantEquipmentOtherAssetsUnderOperatingLeases e:BetweenOneFiveYears 2023-03-31 00979689 2 2023-04-01 2024-03-31 00979689 6 2023-04-01 2024-03-31 00979689 e:DevelopmentCostsCapitalisedDevelopmentExpenditure e:OwnedIntangibleAssets 2023-04-01 2024-03-31 00979689 e:ComputerSoftware e:OwnedIntangibleAssets 2023-04-01 2024-03-31 00979689 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00979689










British Parking Association (The)
(A Company Limited by Guarantee)










Directors' Report and Financial Statements

For the Year Ended 31 March 2024

 
British Parking Association (The)
 
(A Company Limited by Guarantee)
 

Company Information


Directors
Z Ali 
M P Anfield (resigned 30 June 2024)
S C Foster 
C Greely (resigned 30 June 2024)
P M Hammer 
G Osner 
J Passfield (appointed 1 May 2023)
A M Patel 
G M Titchener (resigned 1 April 2024)
R Walker (resigned 1 July 2023)
G H D Rose (resigned 1 May 2023)
R R Tunstall (appointed 1 July 2023)
A J Luck (appointed 22 July 2024)
K E Prior (appointed 22 July 2024)
S L Randall (appointed 22 July 2024)




Company secretary
K E Reynolds



Registered number
00979689



Registered office
Chelsea House
8 -14 The Broadway

Haywards Heath

West Sussex

RH16 3AP




Independent auditors
Kreston Reeves LLP
Chartered Accountants

9 Donnington Park

85 Birdham Road

Chichester

West Sussex

PO20 7AJ





 
British Parking Association (The)
 
(A Company Limited by Guarantee)
 

Contents



Page
Directors' Report
1 - 2
Independent Auditors' Report
3 - 6
Statement of Comprehensive Income
7
Statement of Financial Position
8
Notes to the Financial Statements
9 - 15


 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Directors' Report
For the Year Ended 31 March 2024

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

Directors' responsibilities statement

The directors are responsible for preparing the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments 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 transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Directors

The directors who served during the year were:

Z Ali 
M P Anfield (resigned 30 June 2024)
S C Foster 
C Greely (resigned 30 June 2024)
P M Hammer 
G Osner 
J Passfield (appointed 1 May 2023)
A M Patel 
G M Titchener (resigned 1 April 2024)
R Walker (resigned 1 July 2023)
G H D Rose (resigned 1 May 2023)
R R Tunstall (appointed 1 July 2023)

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Directors' Report (continued)
For the Year Ended 31 March 2024

Auditor

The auditorsKreston Reeves LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 20 December 2024 and signed on its behalf.
 





................................................
R R Tunstall
Director

Page 2

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Independent Auditors' Report to the Members of British Parking Association (The)
 

Opinion


We have audited the financial statements of British Parking Association (The) (the 'Company') for the year ended 31 March 2024, which comprise Income and Expenditure account, the Statement of Financial Position and the related notes, including a summary of significant accounting policiesThe 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 Company's affairs as at 31 March 2024 and of its loss 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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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.


Page 3

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Independent Auditors' Report to the Members of British Parking Association (The) (continued)


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


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:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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.


Page 4

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Independent Auditors' Report to the Members of British Parking Association (The) (continued)


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 an Auditors' 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included:

Discussions with management and assessment of known or suspected instances of non-compliance with  laws and regulations (including health and safety) and fraud, and review of the reports made by management; and
Assessment of identified fraud risk factors; and
Review of cash and credit card expenditure to confirm no evidence of personal benefit; and
Challenging assumptions and judgements made by management in its significant accounting estimates; and
Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
Reading minutes of meetings of those charged with governance; and
Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and 
Identifying and testing journal entries, in particular any manual entries made at the year end for financial  statement preparation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Page 5

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Independent Auditors' Report to the Members of British Parking Association (The) (continued)


As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:


Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.


We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.


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 2006Our 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 Auditors' 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.





Lucy Hammond BSc FCA (Senior Statutory Auditor)
for and on behalf of
Kreston Reeves LLP
Chartered Accountants
Chichester

20 December 2024
Page 6

 
British Parking Association (The)
 
(A Company Limited by Guarantee)
 

Income and expenditure account
For the Year Ended 31 March 2024

2024
2023
£
£

  

Income
  
5,078,955
4,317,663

Direct costs of activities
  
(4,227,639)
(3,506,632)

Gross surplus
  
851,316
811,031

Administrative expenses
  
(992,503)
(1,021,338)

(Loss)/gain on investments
  
28,544
(14,251)

Operating deficit
 3 
(112,643)
(224,558)

Interest receivable and similar income
  
19
-

Deficit before tax
  
(112,624)
(224,558)

Deficit for the financial year
  
(112,624)
(224,558)

  

Total deficit for the year
  
(112,624)
(224,558)

The notes on pages 9 to 15 form part of these financial statements.

Page 7

 
British Parking Association (The)
 
(A Company Limited by Guarantee)
Registered number: 00979689

Statement of Financial Position
As at 31 March 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
11,231
49,840

Tangible assets
 6 
7,444
13,649

Investments
  
333,799
305,255

  
352,474
368,744

Current assets
  

Debtors
 8 
1,246,816
1,212,143

Cash at bank and in hand
  
309,870
286,239

  
1,556,686
1,498,382

Creditors: amounts falling due within one year
 9 
(2,055,743)
(1,901,085)

Net current liabilities
  
 
 
(499,057)
 
 
(402,703)

  

  

Net liabilities
  
(146,583)
(33,959)


Capital and reserves
  

Other reserves
 10 
274,744
242,505

Profit and loss account
 10 
(421,327)
(276,464)

  
(146,583)
(33,959)


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




................................................
R R Tunstall
Director
Date: 20 December 2024

The notes on pages 9 to 15 form part of these financial statements.

Page 8

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

1.


General information

The British Parking Association is a private company limited by gurantee incorporated in England and Wales (registered number 00979689). The address of the registered office is Chelsea House, 8-14 The Broadway, Haywards Heath, West Sussex, England, RH16 3AP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

Notwithstanding the net liability position, which has occured due to deferred income adjustments made, the directors have formed a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, this due to having strong cash and investment reserves plus a strong membership base. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Income

Income comprises income recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

  
2.4

Expenditure

Expenditure relating to seminars and workshops is charged to the Income and Expenditure Account in the accounting period in which the corresponding income arises.
The cost of newsletters shown in the Income and Expenditure Account represents expenditure incurred on each issue circulated in the accounting period. 
Other expenditure is charged to the Income and Expenditure Account by reference to the date on which it was incurred. 

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

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

Page 9

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 The estimated useful lives range as follows:

Database
-
3 - 5 years

 
2.9

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:

Office equipment
-
33%
per annum Straight line
Computer network
-
33%
per annum 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.

 
2.10

Valuation of investments

Investments are stated at the market value at the balance sheet date. The Income and Expenditure Account includes the net gains and losses arising on revaluations and disposals during the period. 

Page 10

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

  
2.13

Reserves

Separate reserves are held for the Operational services, Safer Parking Scheme and the Park Access Reserves. These are intended to match the income from these activities with the associated expenditure. 


3.


Operating deficit

The operating deficit is stated after charging:

2024
2023
£
£

Depreciation
8,874
16,343

Amortisation
38,609
46,678

Other operating lease rentals
81,078
90,778

Auditor's remuneration
11,150
12,386

Auditor's remuneration - non audit
1,475
1,700

Pension costs
89,294
75,195


4.


Employees

2024
2023
£
£

Wages and salaries
1,377,302
1,219,058

Social security costs
157,354
131,077

Cost of defined contribution scheme
89,294
75,195

1,623,950
1,425,330


The average monthly number of employees, including directors, during the year was 37 (2023 - 37).

Page 11

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

5.


Intangible assets




Database
Website
Total

£
£
£



Cost


At 1 April 2023
233,391
35,351
268,742



At 31 March 2024

233,391
35,351
268,742



Amortisation


At 1 April 2023
183,551
35,351
218,902


Charge for the year on owned assets
38,609
-
38,609



At 31 March 2024

222,160
35,351
257,511



Net book value



At 31 March 2024
11,231
-
11,231



At 31 March 2023
49,840
-
49,840




6.


Tangible fixed assets





Office equipment
Computer network
Total

£
£
£



Cost or valuation


At 1 April 2023
144,034
137,273
281,307


Additions
2,669
-
2,669



At 31 March 2024

146,703
137,273
283,976



Depreciation


At 1 April 2023
136,284
131,374
267,658


Charge for the year on owned assets
4,362
4,512
8,874



At 31 March 2024

140,646
135,886
276,532



Net book value



At 31 March 2024
6,057
1,387
7,444



At 31 March 2023
7,750
5,899
13,649

Page 12

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

7.


Fixed asset investments





Listed investments

£



Valuation


At 1 April 2023
305,255


Revaluations
28,544



At 31 March 2024
333,799




The historical cost of the listed investments is £307,170 (2023: £307,170).


8.


Debtors

2024
2023
£
£



Trade debtors
946,934
980,230

Other debtors
42,375
42,360

Prepayments and accrued income
257,507
189,553

1,246,816
1,212,143



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
618,022
512,802

Other taxation and social security
197,460
155,505

Other creditors
28,630
44,326

Accruals and deferred income
1,211,631
1,188,452

2,055,743
1,901,085


Page 13

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

10.


Reserves

Other reserves

Other reserves held relate to the Operational services, Safer Parking Scheme and the Park Access Reserves. These amounts were built up from previous years surpluses.

As restated
2024
2023
£
£
Operational Services
At 1 April 2023

142,405

175,758
 
Transfer (to)/from income and expenditure account

3,758

(33,353)
 
At 31 March 2024
146,163

142,405
 

As restated
2024
2023
        £
        £
Safer Parking Scheme

At 1 April 2023

100,100

126,114
 
Transfer (to)/from income and expenditure account

24,666

(26,014)
 
At 31 March 2024

124,766

100,100
 

2024
2023
        £
        £
Park Access Reserves

At 1 April 2023

-

-
 
Transfer (to)/from income and expenditure account

3,815

-
 
At 31 March 2024

3,815

-
 



11.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.


12.


Prior year adjustment

A prior year adjustment has been made in relation to the reserves betwen the general reserves and other reserves, in relation to the prior year's deferred income adjustments. This has resulted in restatement of the general reserves at the start of the comparative year by £164,734, of which £179,682 related to a reduction in the Operation Services reserves and a £14,948 increase in the Safer Parking Scheme reserve.

Page 14

 
British Parking Association (The)

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2024

13.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately 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 £89,294 (2023: £75,195).


14.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£

Land and buildings


Not later than 1 year
66,000
66,000

Later than 1 year and not later than 5 years
164,548
230,548

230,548
296,548

2024
2023

£
£

Other


Not later than 1 year
30,327
30,476

Later than 1 year and not later than 5 years
4,927
18,570

35,254
49,046


15.


Related party transactions

No member of the Board received any remuneration. Expenses of £33,694 (2023: £7,039) were reimbursed to members of the Board during the year.

Page 15