Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 21 May 2025 1 January 2024 31 December 2024 31 December 2024 00823988 P E Willson R J Buchanan J F Glover M P Kingsbury P L Rowbottom G D Heller G J Wood D J Meakin A A Dickens C D Butcher C J Hamlett D W Scholes F Chessari A Burrows S D Khedekar A C Farnham C J Curr R E Maulkinson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00823988 2023-12-31 00823988 2024-12-31 00823988 2024-01-01 2024-12-31 00823988 frs-core:CurrentFinancialInstruments 2024-12-31 00823988 frs-core:BetweenOneFiveYears 2024-12-31 00823988 frs-core:ComputerEquipment 2024-12-31 00823988 frs-core:ComputerEquipment 2024-01-01 2024-12-31 00823988 frs-core:ComputerEquipment 2023-12-31 00823988 frs-core:FurnitureFittings 2024-12-31 00823988 frs-core:FurnitureFittings 2024-01-01 2024-12-31 00823988 frs-core:FurnitureFittings 2023-12-31 00823988 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 00823988 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00823988 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 00823988 frs-core:MoreThanFiveYears 2024-12-31 00823988 frs-core:WithinOneYear 2024-12-31 00823988 frs-core:RevaluationReserve 2024-01-01 2024-12-31 00823988 frs-core:RevaluationReserve 2023-12-31 00823988 frs-core:RevaluationReserve 2024-12-31 00823988 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 00823988 frs-bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 00823988 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 00823988 frs-bus:SmallEntities 2024-01-01 2024-12-31 00823988 frs-bus:Audited 2024-01-01 2024-12-31 00823988 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 00823988 frs-bus:Director1 2024-01-01 2024-12-31 00823988 frs-bus:Director2 2024-01-01 2024-12-31 00823988 frs-bus:Director3 2024-01-01 2024-12-31 00823988 frs-bus:Director4 2024-01-01 2024-12-31 00823988 frs-bus:Director5 2024-01-01 2024-12-31 00823988 frs-bus:Director6 2024-01-01 2024-12-31 00823988 frs-bus:Director7 2024-01-01 2024-12-31 00823988 frs-bus:Director8 2024-01-01 2024-12-31 00823988 frs-bus:Director9 2024-01-01 2024-12-31 00823988 frs-bus:Director10 2024-01-01 2024-12-31 00823988 frs-bus:Director11 2024-01-01 2024-12-31 00823988 frs-bus:Director12 2024-01-01 2024-12-31 00823988 frs-bus:Director13 2024-01-01 2024-12-31 00823988 frs-bus:Director14 2024-01-01 2024-12-31 00823988 frs-bus:Director15 2024-01-01 2024-12-31 00823988 frs-bus:Director16 2024-01-01 2024-12-31 00823988 frs-bus:Director17 2024-01-01 2024-12-31 00823988 frs-bus:Director18 2024-01-01 2024-12-31 00823988 frs-countries:EnglandWales 2024-01-01 2024-12-31 00823988 2022-12-31 00823988 2023-12-31 00823988 2023-01-01 2023-12-31 00823988 frs-core:CurrentFinancialInstruments 2023-12-31 00823988 frs-core:BetweenOneFiveYears 2023-12-31 00823988 frs-core:MoreThanFiveYears 2023-12-31 00823988 frs-core:WithinOneYear 2023-12-31 00823988 frs-core:RevaluationReserve 2023-12-31 00823988 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 00823988
British Fluid Power Association Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors P E Willson
R J Buchanan
J F Glover
M P Kingsbury
P L Rowbottom
G D Heller
G J Wood
D J Meakin
A A Dickens
C D Butcher
C J Hamlett
D W Scholes
F Chessari
A Burrows
S D Khedekar
A C Farnham
C J Curr
R E Maulkinson
Company Number 00823988
Registered Office Cheriton House
Cromwell Park
Chipping Norton
Oxfordshire
OX7 5SR
Accountants Handleys Chartered Accountants
10 Manor Park
Banbury
Oxfordshire
OX16 3TB
The senior statutory auditor is David Handley FCA.
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Page 2
Balance Sheet
Registered number: 00823988
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 171,358 176,106
171,358 176,106
CURRENT ASSETS
Stocks 5 8,382 4,892
Debtors 6 59,854 42,171
Cash at bank and in hand 682,186 586,413
750,422 633,476
Creditors: Amounts Falling Due Within One Year 7 (121,725 ) (80,309 )
NET CURRENT ASSETS (LIABILITIES) 628,697 553,167
TOTAL ASSETS LESS CURRENT LIABILITIES 800,055 729,273
PROVISIONS FOR LIABILITIES
Deferred Taxation - (1,228 )
NET ASSETS 800,055 728,045
RESERVES
Revaluation reserve 9 55,377 59,977
Income and Expenditure Account 744,678 668,068
MEMBERS' FUNDS 800,055 728,045
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
S D Khedekar
Director
15/05/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
British Fluid Power Association Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 00823988 . The registered office is Cheriton House, Cromwell Park, Chipping Norton, Oxfordshire, OX7 5SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.
Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.5. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in surplus or deficit for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.
2.7. Expenditure on training
Costs associated with the development of training courses and the production of training materials are recognised as an expense when incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 230,000 85,513 48,340 363,853
Additions - - 2,832 2,832
As at 31 December 2024 230,000 85,513 51,172 366,685
Depreciation
As at 1 January 2024 59,800 85,513 42,434 187,747
Provided during the period 4,600 - 2,980 7,580
As at 31 December 2024 64,400 85,513 45,414 195,327
...CONTINUED
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Net Book Value
As at 31 December 2024 165,600 - 5,758 171,358
As at 1 January 2024 170,200 - 5,906 176,106
The company's long leasehold at Cheriton House, Cromwell Park, Chipping Norton was revalued on 31 December 2011 from a net book value of £111,023 to a value of £230,000.
5. Stocks
2024 2023
£ £
Stock 8,382 4,892
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 45,473 14,603
Other debtors 14,381 27,568
59,854 42,171
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,856 11,708
Other creditors 63,156 40,634
Taxation and social security 43,713 27,967
121,725 80,309
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 14,053 14,042
Later than one year and not later than five years 27,623 26,281
Later than five years 330 1,864
42,006 42,187
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9. Reserves
Revaluation Reserve
£
As at 1 January 2024 59,977
Transfer to profit and loss (4,600 )
As at 31 December 2024 55,377
10. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
11. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
12. Audit Information
The auditor's report on the accounts of British Fluid Power Association Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Mr David Handley (Senior Statutory Auditor) for and on behalf of Handleys Accountants Limited , Statutory Auditor.
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