Company registration number 06936735 (England and Wales)
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
CONTENTS
Page
Company Information
Balance sheet
1
Notes to the financial statements
2
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
COMPANY INFORMATION
Directors
Mr S J Schofield
Mr D Croker
Mr W Rose
Mr L J Tebbatt
Mr A J Simpson
(Appointed 1 November 2023)
Company number
06936735
Registered office
National Metalforming Centre
47 Birmingham Road
West Bromwich
West Midlands
B70 6PY
Auditor
Fields Business Advisors Limited
91 Birmingham Road
West Bromwich
West Midlands
B70 6PX
Business address
National Metalforming Centre
47 Birmingham Road
West Bromwich
West Midlands
B70 6PY
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
52,000
58,000
Tangible assets
4
6,080
2,049
58,080
60,049
Current assets
Debtors
6
122,940
135,623
Cash at bank and in hand
134,151
148,044
257,091
283,667
Creditors: amounts falling due within one year
7
(57,530)
(70,675)
Net current assets
199,561
212,992
Total assets less current liabilities
257,641
273,041
Capital and reserves
Profit and loss reserves
257,641
273,041
Total equity
257,641
273,041

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 November 2024 and are signed on its behalf by:
Mr W Rose
Director
Company registration number 06936735 (England and Wales)
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

British Pump Manufacturers Association Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Accounting convention

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

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £1.

Significant judgements and estimates

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

 

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

1.2
Going concern

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

1.3
Turnover

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

1.4
Intangible fixed assets other than goodwill

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

 

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

1.5
Tangible fixed assets

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

Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Office Equipment
33% on straight line
Pump System Training Rig
20% on cost
1.6
Financial instruments

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

BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

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

Current tax

Current or deferred taxation assets and liabilities are not discounted.

 

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

Deferred tax

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

 

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

 

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

 

1.8
Employee benefits

The company operates a defined contribution pension scheme, for the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1000 (2023 - £1382) were due to the fund. They are included in other creditors.

1.9
Leases

Operating leases

 

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

1.10
Foreign exchange

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

2
Employees

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

2024
2023
Number
Number
4
4
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 July 2023 and 30 June 2024
60,000
Amortisation
At 1 July 2023
2,000
Charge for year
6,000
At 30 June 2024
8,000
Net book value
At 30 June 2024
52,000
At 30 June 2023
58,000
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Office Equipment
Pump System Training Rig
Total
£
£
£
£
£
Cost
At 1 July 2023
-
0
651
8,785
9,500
18,936
Additions
5,124
153
979
-
0
6,256
At 30 June 2024
5,124
804
9,764
9,500
25,192
Depreciation
At 1 July 2023
-
0
512
6,875
9,500
16,887
Charge for year
769
73
1,383
-
0
2,225
At 30 June 2024
769
585
8,258
9,500
19,112
Net book value
At 30 June 2024
4,355
219
1,506
-
0
6,080
At 30 June 2023
-
0
139
1,910
-
0
2,049
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
95,437
105,982
Corporation tax recoverable
-
0
7,868
Prepayments and accrued income
27,503
21,773
122,940
135,623
BRITISH PUMP MANUFACTURERS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
31,175
19,481
Taxation and social security
13,399
15,786
Other creditors
3,625
14,483
Accruals and deferred income
9,331
20,925
57,530
70,675
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Statutory Auditor:
Stella Louise Broomhall (Senior Statutory Auditor) for and on behalf of Fields Business Advisors Ltd
Date of audit report:
4 November 2024
9
Financial commitments, guarantees and contingent liabilities

At the balance sheet date the company had financial commitments of £38,978 (2023: £14,769). Payable with one year is £13,258 (2023: £5,658) and within 2 to 5 years £25,720 (2023: £9,111).

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