Company registration number 15045032 (England and Wales)
BUILDING CONTROLS INDUSTRY ASSOCIATION LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BUILDING CONTROLS INDUSTRY ASSOCIATION LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BUILDING CONTROLS INDUSTRY ASSOCIATION LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
587
Current assets
Debtors
4
117,930
Cash at bank and in hand
197,459
315,389
Creditors: amounts falling due within one year
5
(146,301)
Net current assets
169,088
Net assets
169,675
Reserves
Other reserves
133,486
Income and expenditure account
36,189
Total members' funds
169,675

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 May 2025 and are signed on its behalf by:
Ms S M Lucas
Director
Company registration number 15045032 (England and Wales)
BUILDING CONTROLS INDUSTRY ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Building Controls Industry Association Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Building Controls Industry Association Limited, 2 Waltham Court, Milley Lane, Hare Hatch, Reading, Berkshire, RG10 9TH.

1.1
Reporting period

The company was incorporated on 2 August 2023 and the financial statements presented are for the first period ended 31 December 2024; a period which is longer than 12 months.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.3
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Turnover represents subscription and event fees charged to the members net of VAT and other related taxes. The fees take into account discounts where applicable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Computers
33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BUILDING CONTROLS INDUSTRY ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

2
Employees

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

2024
Number
Total
-
0
BUILDING CONTROLS INDUSTRY ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 2 August 2023
-
0
Additions
621
At 31 December 2024
621
Depreciation and impairment
At 2 August 2023
-
0
Depreciation charged in the period
34
At 31 December 2024
34
Carrying amount
At 31 December 2024
587
4
Debtors
2024
Amounts falling due within one year:
£
Service charges due
65,696
Other debtors
52,234
117,930
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
23,728
Corporation tax
5
Other taxation and social security
9,343
Other creditors
113,225
146,301
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

 

Directors are appointed on behalf of the members. Management Committee have ultimate control. The Board Members continue to work on a pro bono basis.

2024-12-312023-08-02falsefalsefalse02 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr G R ReesMs S M LucasMr T P SharpMiss J K VickersMs C Walker150450322023-08-022024-12-31150450322024-12-3115045032core:OtherPropertyPlantEquipment2024-12-3115045032core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3115045032core:CurrentFinancialInstruments2024-12-3115045032core:OtherMiscellaneousReserve2024-12-3115045032core:RetainedEarningsAccumulatedLosses2024-12-3115045032bus:Director22023-08-022024-12-3115045032core:ComputerEquipment2023-08-022024-12-3115045032core:OtherPropertyPlantEquipment2023-08-0115045032core:OtherPropertyPlantEquipment2023-08-022024-12-3115045032core:WithinOneYear2024-12-3115045032bus:CompanyLimitedByGuarantee2023-08-022024-12-3115045032bus:FRS1022023-08-022024-12-3115045032bus:AuditExemptWithAccountantsReport2023-08-022024-12-3115045032bus:Director12023-08-022024-12-3115045032bus:Director32023-08-022024-12-3115045032bus:Director42023-08-022024-12-3115045032bus:CompanySecretary12023-08-022024-12-3115045032bus:SmallCompaniesRegimeForAccounts2023-08-022024-12-3115045032bus:FullAccounts2023-08-022024-12-31xbrli:purexbrli:sharesiso4217:GBP