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REGISTERED NUMBER: 00688288 (England and Wales)





















FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE) (REGISTERED NUMBER: 00688288)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Chairman's Report 2

Balance Sheet 3

Notes to the Financial Statements 4 to 5


FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE)

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: B J Ahern
Mrs. A C Barber
A P Green
J M Hindle
Ms J F Knight
N K Punshon
R A Scott
A Story
Mrs T Hargreaves
C H Meadows
P Spademan





SECRETARY: Mrs S D Brown





REGISTERED OFFICE: Chiltern House Stocking Lane
Hughenden Valley
High Wycombe
Buckinghamshire
HP14 4ND





REGISTERED NUMBER: 00688288 (England and Wales)





AUDITORS: Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE) (REGISTERED NUMBER: 00688288)

CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


it is with great pleasure that I present the 2024 Annual Report and Financial Statements for the Furniture Industry Research Association.

This year marked my fourth as Chair of the Association - an honour and privilege I continue to value deeply. I'm especially pleased to report that we welcomed 29 new members in 2024. Many of them cited access to our extensive knowledge base, expert guidance, and industry insights as key reasons for joining. While space prevents me from listing each new member here, I warmly invite you to explore our full membership directory at https://www.fira.co.uk/directory

As in previous years, 2024 saw the successful delivery of a diverse range of impactful projects, guided by the Research Association Council and delivered by our commercial partner, FIRA International. These initiatives reflect our continued role as the central knowledge hub for our members and the wider furniture industry.

Projects released in 2024 included production of the Statistics Digest for the Furniture Industry 2023 offering valuable insights into the size, scope, and dynamics of the market.

To support our members in navigating regulatory changes, we introduced two new guides on the General Product Safety Regulations - one tailored to Great Britain and the other to the European Union.

In addition, to help support operational efficiency across the sector, two new Lean Manufacturing Training toolkits were released which are proving to be a valuable resource for members.

We also commissioned a pilot research project, An Exploration of Educational Furniture Procurement. Scheduled for release in 2025, this study marks the first phase of a broader initiative aimed at understanding the factors influencing procurement decisions in educational settings. It highlights systemic barriers that prevent schools from accessing high-quality, ergonomic furniture and identifies opportunities for improvement.

The research advocates for industry-wide collaboration to develop better procurement policies, ensure compliance with British and European standards, and raise awareness of the critical role furniture plays in student health and engagement.

The Research Association Council continues to play a vital role in overseeing our work, and their insights are instrumental in shaping our direction. I would like to extend my sincere thanks to all Council members for their dedication and support throughout 2024. I also encourage our members to consider nominating themselves (or a colleague) to join the Council and help guide the Association's future. For more information, please contact us at info@fira.co.uk.

Looking ahead to 2025, the Association will remain actively involved in high-level discussions surrounding the Furniture & Furnishings (Fire Safety) Regulations. Sustainability will also remain a key focus, with plans to develop best practice guidance for measuring and assessing environmental impact, reinforcing the sector's commitment to meaningful progress toward carbon neutrality.

We will continue to ensure that the Furniture Industry Research Association stands as the leading source of knowledge for the industry, delivering insights that directly benefit our members' businesses.

In closing, I would like to thank you, our members, for your continued support. On behalf of the Council, I wish you every success in the year ahead. We are sincerely grateful for your membership and look forward to another year of providing you with the highest standard of information, support, and guidance.

Brian Ahern
Chairman - Furniture Industry Research Association
18 August 2025

FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE) (REGISTERED NUMBER: 00688288)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 59,896 195,828
Cash at bank 23,605 19,947
83,501 215,775
CREDITORS
Amounts falling due within one year 5 77,768 214,773
NET CURRENT ASSETS 5,733 1,002
TOTAL ASSETS LESS CURRENT LIABILITIES 5,733 1,002

RESERVES
Income and expenditure account 5,733 1,002
5,733 1,002

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2025 and were signed on its behalf by:





B J Ahern - Director


FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE) (REGISTERED NUMBER: 00688288)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Furniture Industry Research Association(The) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention

The councillors believe that the company has adequate resources to continue operations for the foreseeable future being a period of not less than 12 months from the date of signing these financial statements. Accordingly, the councillors continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of membership income received during the year.

Revenue recognition
Annual subscriptions are receivable from customers in advance. The terms of the subscriptions provide that upon receipt this is non refundable. Revenue from any subscriptions invoiced but not paid at the year end is fully deferred and recognised in future periods when payment is received.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 51,814 193,903
Other debtors 8,082 1,925
59,896 195,828

FURNITURE INDUSTRY RESEARCH
ASSOCIATION(THE) (REGISTERED NUMBER: 00688288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 64,414 198,960
Amounts owed to Connected
Undertakings 13,354 15,813
77,768 214,773

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stuart Armstrong FCCA (Senior Statutory Auditor)
for and on behalf of Phipps Henson McAllister

7. LIMITED BY GUARANTEE

The liability of the members is limited by guarantee and no shares are authorised or issued by the Association. Every member of the Association undertakes to contribute to the assets of the Association in the event of the same being wound up while he is a member or within one year after he ceases to be a member, for payment of the debts and liabilities of the Association contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors amongst themselves, such amount as may be required not exceeding £5.