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Registered number: 06945400









BPF ENERGY LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BPF ENERGY LIMITED
 
 
COMPANY INFORMATION


Directors
P K Law 
D R Muir 




Company secretary
D R Muir



Registered number
06945400



Registered office
6 Bath Place
Rivington Street

London

EC2A 3JE




Independent auditors
Barnes Roffe LLP
Chartered Accountants

Leytonstone House

3 Hanbury Drive

Leytonstone

London

E11 1GA





 
BPF ENERGY LIMITED
 

CONTENTS



Page
Directors' report
 
1 - 3
Independent auditors' report
 
4 - 7
Statement of comprehensive income
 
8
Statement of financial position
 
9
Statement of changes in equity
 
10
Notes to the financial statements
 
11 - 17


 
BPF ENERGY LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

Principal activity

BPF Energy Limited administers the plastics sector climate change agreement on behalf of the British Plastics Federation (BPF). It is committed to promoting good practice in energy efficiency, conservation and sustainability.
The company’s affairs are directed by the BPF Council and executed by the directors who are remunerated by the BPF.

Page 1

 
BPF ENERGY LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Business review

BPF Energy Limited was incorporated 26 June 2009 for the purpose inter alia of managing the Plastics Sector Climate Change Agreement (CCA) on behalf of The British Plastics Federation (BPF).
The first Plastics Sector CCA was signed on 1 October 2009 between the BPF and the then Department of Energy and Climate Change (DECC) and remained in place until 31 March 2013. After a protracted consultation period, a new CCA scheme came into place and an umbrella agreement was signed by the BPF on 1 April 2013 which will continue until 2033.
 
The operation of the CCA is solely administered by the BPF. No staff or fixed assets are employed by the company.
During 2024, the priority of BPF Energy was the continued support, provision of information, education and communication to CCA partners. As well as regular written communications and publications, a series of seminars and workshops were undertaken throughout the country to achieve this aim. BPF Energy continued the development of its carbon measurement tool as well as its other reporting systems to give partners the tools to measure and report carbon emissions and to potentially achieve a ‘net zero’ status.
BPF Energy continues to work closely with the Department for Energy Security and Net Zero(DESNZ) and the Environment Agency (EA). In the year, BPF Energy sponsored a number of energy communications and the BPF Annual Dinner at which the BPF Energy Award was presented.
Total income for 2024 was £1,335,361
 (2023 - £1,320,781) and administrative expenses for 2024 were £1,321,635 (2023 - £1,313,511), leaving a £14,002 surplus after tax (2023 - £9,973).
 

Results and dividends

The profit for the year, after taxation, amounted to £14,002 (2023 - £9,973).

The directors decided that no dividend was payable and accordingly £14,002 has been transferred to reserves.

Directors

The directors who served during the year were:

P K Law 
D R Muir 

Future developments

TBC

Disclosure of information to auditors

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 2

 
BPF ENERGY LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Auditors

The auditorsBarnes Roffe 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 and signed on its behalf.
 





D R Muir
Director

Date: 10 April 2025

Page 3

 
BPF ENERGY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BPF ENERGY LIMITED
 

Opinion


We have audited the financial statements of BPF Energy Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity 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 December 2024 and of its profit 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.


Page 4

 
BPF ENERGY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BPF ENERGY LIMITED (CONTINUED)


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.


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.


Page 5

 
BPF ENERGY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BPF ENERGY LIMITED (CONTINUED)


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.


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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, includingfraud and non-compliance with laws and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussions with the director and other management, and from our commercial knowledge and experience of the relevant sector;
We focused on specific laws and regulations, which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and ISOstandards;
We assessed the extent of compliance with laws and regulations identified above through making enquires of management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, includingobtaining an understanding of how fraud might occur, by:

Making enquires of management as to where they considered there was susceptibility to fraud, theirknowledge of actual suspected and alleged fraud; and
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws andregulations.

To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify and unusual or unexpected relationships;
Tested journal entries to identify unusual transactions;
Page 6

 
BPF ENERGY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BPF ENERGY LIMITED (CONTINUED)


Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
Investigated the rationale behind significant or unusual transactions.

There are inherent limitations in our audit procedures described above. The more removed that laws andregulations are from financial statements, the less likely it is that we would become aware of non-compliance.

Auditing standards also limit the audit procedures to identify non-compliance with laws and regulations to enquiryof the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect that those that arise from errors as theymay involve deliberate concealment or collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


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.





Simon Liggins (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Leytonstone House
3 Hanbury Drive
Leytonstone
London
E11 1GA

17 April 2025
Page 7

 
BPF ENERGY LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Income
 3 
1,335,361
1,320,781

Gross profit
  
1,335,361
1,320,781

Administrative expenses
  
(1,321,635)
(1,313,511)

Operating profit
  
13,726
7,270

Interest receivable and similar income
 7 
3,560
5,117

Surplus before tax
  
17,286
12,387

Tax on profit
 8 
(3,284)
(2,414)

Surplus for the financial year
  
14,002
9,973

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 11 to 17 form part of these financial statements.

Page 8

 
BPF ENERGY LIMITED
REGISTERED NUMBER: 06945400

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 9 
1,325,976
1,296,887

Cash at bank and in hand
 10 
579,801
636,831

  
1,905,777
1,933,718

Creditors: amounts falling due within one year
 11 
(1,545,605)
(1,587,548)

Net current assets
  
 
 
360,172
 
 
346,170

  

Net assets
  
360,172
346,170


Capital and reserves
  

Called up share capital 
 12 
1
1

Accumulated fund
 13 
360,171
346,169

  
360,172
346,170


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 on 10 April 2025.




D R Muir
Director

The notes on pages 11 to 17 form part of these financial statements.

Page 9

 
BPF ENERGY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Accumulated fund
Total equity

£
£
£


At 1 January 2023
1
336,196
336,197



Surplus for the year
-
9,973
9,973



At 1 January 2024
1
346,169
346,170



Surplus for the year
-
14,002
14,002


At 31 December 2024
1
360,171
360,172


The notes on pages 11 to 17 form part of these financial statements.

Page 10

 
BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

BPF Energy Limited is a private company, limited by shares, domiciled and incorporated in England.
The address of the company's registered office and pricipal place of business is 6 Bath Place, Rivington Street, London, EC2A 3JE.
BPF Energy Limited administers the plastics sector climate change agreement on behalf of the British Plastics Federation (BPF). It is committed to promoting good practice in energy efficiency, conservation and sustainability.
The company’s affairs are directed by the BPF Council and executed by the directors who are remunerated by the BPF.

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

The financial statements have been prepared on a going concern basis. The directors have considered the operating surplus for the period and statement of financial position at the accounting date and reviewed forecasts and are satisfied that the company is in a position to meet its liabilities as they fall due over the next twelve months. In arriving at this conclusion, the Directors have taken account of current and anticipated financial performance in the current economic conditions, and the company’s reserves position. The Directors have reviewed in detail the company’s position and the appropriate basis on which to prepare the financial statements. The Directors have concluded that it remains appropriate to prepare the financial statements of BPF Energy on the going concern basis.

 
2.3

Income

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Partner fees
Partner fees are recognised at full selling price for which the company has a right to consideration and represents amounts receivable in respect of annual fees and joining fees less any appropriate discounts, excluding Value Added Tax.
Other income
Other income is recognised at full selling price for all work carried out for which the company has a right to consideration and comprises income from sources other than CCA partner fees.

Page 11

 
BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Taxation

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.


 
2.6

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.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Page 12

 
BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Page 13

 
BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Income

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Partner fees
1,251,027
1,233,841

EA fees
82,880
84,730

Events and other
1,454
2,210

1,335,361
1,320,781


All turnover arose within the United Kingdom.


4.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
6,750
6,750

5.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


6.


Directors' remuneration



No emoluments are paid to the directors.


7.


Interest receivable

2024
2023
£
£


Bank interest receivable
3,560
5,117

Page 14

 
BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
3,284
2,400

Adjustments in respect of previous periods
-
14


3,284
2,414


Total current tax
3,284
2,414

Deferred tax

Total deferred tax
-
-


Tax on profit
3,284
2,414

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
17,286
12,387


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
4,322
3,097


Change in tax rate from 25% to 19% due to the small company prevailing rate
(1,038)
(683)

Total tax charge for the year
3,284
2,414


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 15

 
BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Debtors

2024
2023
£
£


Trade debtors
1,325,363
1,296,887

Prepayments and accrued income
613
-

1,325,976
1,296,887



10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
579,801
636,831



11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,555
6,244

Amounts owed to group undertakings
17,534
32,341

Corporation tax
3,299
2,400

Other taxation and social security
240,531
232,574

Accruals and deferred income
1,280,686
1,313,989

1,545,605
1,587,548



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1

The company’s ordinary share, which carries no right to fixed income, carries the right to one deciding vote at general meetings of the company.


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BPF ENERGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Reserves

Accumulated fund

The accumulated fund represents the cumulative surplus net of distributions.


14.


Related party transactions

During the year the British Plastics Federation provided administration services of £1,146,117 (2023 - £1,172,942) to assist the company to administer the Plastics Sector Climate Change Agreement (CCA).  At the year-end £17,534 (2023 - £32,341) was owed to British Plastics Federation.


15.


Ultimate parent undertaking

The immediate and ultimate parent company is the British Plastics Federation, a company registered in England and Wales with registered office address 6 Bath Place, Rivington street, London, EC2A 3JE.

 
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