COMPANY REGISTRATION NUMBER:
01194637
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British Automatic Fire Sprinkler Association Limited |
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Company Limited by Guarantee |
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Filleted Unaudited Financial Statements |
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British Automatic Fire Sprinkler Association Limited |
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Company Limited by Guarantee |
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Statement of Financial Position |
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31 December 2024
Fixed assets
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Intangible assets |
6 |
|
32,805 |
– |
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|
|
|
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Current assets
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Debtors |
8 |
41,570 |
|
217,302 |
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Cash at bank and in hand |
767,685 |
|
757,110 |
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--------- |
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--------- |
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809,255 |
|
974,412 |
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|
|
|
|
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Creditors: amounts falling due within one year |
9 |
295,213 |
|
374,027 |
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--------- |
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--------- |
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Net current assets |
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514,042 |
600,385 |
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--------- |
--------- |
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Total assets less current liabilities |
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546,847 |
600,385 |
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--------- |
--------- |
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Net assets |
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546,847 |
600,385 |
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--------- |
--------- |
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Capital and reserves
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Profit and loss account |
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546,847 |
600,385 |
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--------- |
--------- |
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Members funds |
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546,847 |
600,385 |
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--------- |
--------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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British Automatic Fire Sprinkler Association Limited |
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Company Limited by Guarantee |
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Statement of Financial Position (continued) |
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31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
24 September 2025
, and are signed on behalf of the board by:
Company registration number:
01194637
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British Automatic Fire Sprinkler Association Limited |
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Company Limited by Guarantee |
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Notes to the Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 2 Rutland Business Park, Newark Road, Peterborough, Cambridgeshire, PE1 5WA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Revenue recognition
Turnover comprises revenue recognised by the company in respect of membership income, training income, events held during the year, advertising and publication sales, exclusive of Value Added Tax and trade discounts. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
(c)
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(d)
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
(e)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(f)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Office equipment |
- |
33% reducing balance |
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(g)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h)
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, bank deposits and trade creditors. Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice amount. Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence if found, an impairment loss is recognised in profit and loss. Bank deposits are also measured at the undiscounted amounts held on deposit at the end of the reporting period.
4.
Company limited by guarantee
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £100 towards the assets of the company in the event of liquidation.
5.
Employee numbers
The average number of persons, including directors, employed by the company during the year was nil (2023 - nil).
6.
Intangible assets
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Development costs |
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£ |
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Cost |
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Additions |
32,805 |
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-------- |
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At 31 December 2024 |
32,805 |
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-------- |
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Amortisation |
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At 1 January 2024 and 31 December 2024 |
– |
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-------- |
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Carrying amount |
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At 31 December 2024 |
32,805 |
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-------- |
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At 31 December 2023 |
– |
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-------- |
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7.
Tangible assets
|
Equipment |
Total |
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£ |
£ |
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Cost |
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At 1 January 2024 and 31 December 2024 |
742 |
742 |
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---- |
---- |
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Depreciation |
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At 1 January 2024 and 31 December 2024 |
742 |
742 |
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---- |
---- |
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Carrying amount |
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|
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At 31 December 2024 |
– |
– |
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---- |
---- |
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At 31 December 2023 |
– |
– |
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---- |
---- |
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8.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
23,994 |
201,404 |
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Other debtors |
17,576 |
15,898 |
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-------- |
--------- |
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41,570 |
217,302 |
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-------- |
--------- |
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9.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
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£ |
£ |
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Trade creditors |
37,363 |
25,681 |
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Social security and other taxes |
40,768 |
57,936 |
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Other creditors |
217,082 |
290,410 |
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--------- |
--------- |
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295,213 |
374,027 |
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--------- |
--------- |
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Other creditors amounting to £217,082 (2023 - £290,410) includes subscriptions paid in advance for the following year totalling £161,419 (2023 - £283,360).
10.
Related party transactions
No transactions with Related Parties during the year were considered to be required for disclosure under FRS102 (Section 1A). Any such transactions were considered to be made under normal market conditions and at market rates.