REGISTERED NUMBER: 02444056 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BRITISH HOME ENHANCEMENT

TRADE ASSOCIATION LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A T Weiss

R Jain

W R Jones

P A Boyce

R N Walker

D R Holmes

J C A Collier

C Slater

A H Fisher

S J Richardson

J E C Mason

J R D Langford

REGISTERED OFFICE:

Federation House

10 Vyse Street

Birmingham

B18 6LT

REGISTERED NUMBER:

02444056 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

SOLICITORS:

Howes Percival

Oxford House

Cliftonville

Northampton

NN1 5PN

FIXED ASSETS

Tangible assets

4

51,274

60,872

Investments

5

2,629,543

2,434,238

Investment property

6

1,250,000

1,250,000

3,930,817

3,745,110

CURRENT ASSETS

Stocks

7,845

7,845

Debtors

7

282,852

292,245

Cash at bank and in hand

266,847

206,059

557,544

506,149

CREDITORS

Amounts falling due within one year

8

579,707

512,000

NET CURRENT LIABILITIES

(22,163

)

(5,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,908,654

3,739,259

PROVISIONS FOR LIABILITIES

10

208,549

165,780

NET ASSETS

3,700,105

3,573,479

RESERVES

Fair value reserve

568,749

511,827

Retained earnings

3,131,356

3,061,652

3,700,105

3,573,479

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 4 May 2025 and were signed on its behalf by:

A T Weiss - Director

D R Holmes - Director

1.	STATUTORY INFORMATION

British Home Enhancement Trade Association Limited is a private company limited by guarantee, without a share capital, 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about British Home Enhancement Trade Association Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Turnover represents net invoiced sales of goods and services rendered, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

10% on cost

Office equipment

-

12.5% on cost

Computer equipment

-

33% on cost and 25% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Investments in subsidiaries

Investment in subsidiaries are shown at fair value. Any gains or losses arising from change in fair value are taken to the fair value reserve.

Investment property

Investment properties are shown at fair value. Any gains or losses arising from change in fair value are taken to the fair value reserve.

Stocks

Stock of trophies and memorabilia is valued at the lower of cost and net realisable value.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

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 statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Listed investments

Listed fixed asset investments are stated at fair value. Realised and unrealised gains and losses arising in changes in fair value are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

Computer

& fittings

equipment

equipment

Totals

£

£

£

£

COST

At 1 January 2024

138,549

5,676

33,789

178,014

Additions

-

-

6,201

6,201

Disposals

-

-

(4,281

)

(4,281

)

At 31 December 2024

138,549

5,676

35,709

179,934

DEPRECIATION

At 1 January 2024

87,016

5,675

24,451

117,142

Charge for year

10,439

-

5,360

15,799

Eliminated on disposal

-

-

(4,281

)

(4,281

)

At 31 December 2024

97,455

5,675

25,530

128,660

NET BOOK VALUE

At 31 December 2024

41,094

1

10,179

51,274

At 31 December 2023

51,533

1

9,338

60,872

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

888,425

1,545,813

2,434,238

Additions

-

108,993

108,993

Disposals

-

(87,063

)

(87,063

)

Revaluations

56,922

116,453

173,375

At 31 December 2024

945,347

1,684,196

2,629,543

NET BOOK VALUE

At 31 December 2024

945,347

1,684,196

2,629,543

At 31 December 2023

888,425

1,545,813

2,434,238

Cost or valuation at 31 December 2024 is represented by:

Shares in group undertakings

£

Valuation 2012

(57,135

)

Valuation 2018

809,284

Valuation 2019

(18,882

)

Valuation 2020

(605,452

)

Valuation 2021

332,103

Valuation 2022

178,479

Valuation 2023

(128,572

)

Valuation 2024

56,922

Cost

378,600

945,347

The investments in group undertakings are valued by the directors using a multiple of adjusted sustainable earnings.

In the opinion of the directors, the aggregate fair value of the company's investment in group undertakings is not less than the amount included in the balance sheet.

6.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

1,250,000

NET BOOK VALUE

At 31 December 2024

1,250,000

At 31 December 2023

1,250,000

The company's investment property relates to a long leasehold interest in 4 The Lakes, Bedford Road, Northampton. The lease is for a term of 999 years from 24 June 1991.

The investment property is stated at fair value, as valued by Charles Church MRICS on 30 November 2023.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

243,674

255,292

Other debtors

211

-

Prepayments and accrued income

38,967

36,953

282,852

292,245

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

44,526

15,968

Social security and other taxes

15,533

-

VAT

69,899

67,826

Other creditors

8,810

2,804

Accruals and deferred income

440,939

425,402

579,707

512,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

13,664

13,664

Between one and five years

27,328

40,992

40,992

54,656

Minimum lease receipts under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

-

74,542

Between one and five years

-

-

-

74,542

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

200,724

159,780

Other provisions

7,825

6,000

208,549

165,780

Deferred

tax

£

Balance at 1 January 2024

159,780

Provided during year

40,944

Balance at 31 December 2024

200,724

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

The Report of the Auditors was unqualified.

Robyn Liddell (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited