Company No: 04546290 (England and Wales)

Contents

• Chair’s Statement 2024/25
• Statement of Financial Position
• Notes to the Financial Statements

The Chairman presents his statement for the period.

The Association represents the promotional merchandise industry in the UK, and despite continued challenging economic conditions, the year ended May 2025 represented a financially stable position for the BPMA.

The year was a period of change and development for the Association. New initiatives proposed by the CEO, Phil Goodman, were executed in the year.

These include the full rebrand of the BPMA, the new website that supported the rebrand, the launch of weekly research for members, new and complimentary member events such as the Member Mixer and a partnership with Comic Relief were all delivered in the period.

Additionally, the year ending May 2025 saw the creation of a new three-year strategy for the Association. The strategy is intended to support the ambition for an increase in membership numbers, greater awareness of the Association throughout the wider industry and greater effectiveness on behalf of members.

To support this strategic ambition, funds were made available for the following year’s budget to increase the Associations ability to effectively lobby Government on behalf of members, for additional resource for the Executive Team to support members on issues surrounding product compliance, and for funding to be released to support a marketing campaign to raise awareness and increase membership numbers.

Our partnership with Merchandise World continued to be advantageous, with a particularly strong performance from the January 2025 exhibition.

The year ending May 2025 also saw the BPMA enhance its position, and therefore that of the UK industry, on the global arena. We attended the PPAI Summit in the US and were integral contributors to a joint initiative with the US, Canadian and Australian associations. The year also witnessed the creation of the European Association Committee. The EAC is a group of all significant European associations, which we are proud to be inaugural members of. As our industry becomes ever more global in reach, and many of our members are working increasingly across borders, the BPMA is well positioned to represent our members both in the UK and on the international stage.

The Association is well placed to build upon its stable financial position. The period saw positive change – the rebrand was very well received and is now fully embedded. Our new three-year strategy gives us the direction and clarity on where we are going and what our objectives are.

The year ahead will build upon the recent progress as we seek to expand membership and the volume of our voice in the industry.

Mr. C Allcott
Chairman

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	15,565		0
Tangible assets	4	1,620		3,470
		17,185		3,470
Current assets
Debtors	5	72,100		65,364
Cash at bank and in hand		770,836		697,734
		842,936		763,098
Creditors: amounts falling due within one year	6	( 134,090)		( 157,204)
Net current assets		708,846		605,894
Total assets less current liabilities		726,031		609,364
Provision for liabilities		( 3,500)		( 3,500)
Net assets		722,531		605,864
Reserves
Profit and loss account		722,531		605,864
Total reserves		722,531		605,864

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of British Promotional Merchandise Association Limited (registered number: 04546290) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C J Allcott Director

04 November 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

British Promotional Merchandise Association Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs	5 years straight line
Other intangible assets	3 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	17		17

3. Intangible assets

	Website costs		Other intangible assets		Total
	£		£		£
Cost
At 01 June 2024	0		89,283		89,283
Additions	17,630		0		17,630
Disposals	0		( 54,856)		( 54,856)
At 31 May 2025	17,630		34,427		52,057
Accumulated amortisation
At 01 June 2024	0		89,283		89,283
Charge for the financial year	2,065		0		2,065
Disposals	0		( 54,856)		( 54,856)
At 31 May 2025	2,065		34,427		36,492
Net book value
At 31 May 2025	15,565		0		15,565
At 31 May 2024	0		0		0

4. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 June 2024	21,240		21,240
Disposals	( 9,407)		( 9,407)
At 31 May 2025	11,833		11,833
Accumulated depreciation
At 01 June 2024	17,770		17,770
Charge for the financial year	1,850		1,850
Disposals	( 9,407)		( 9,407)
At 31 May 2025	10,213		10,213
Net book value
At 31 May 2025	1,620		1,620
At 31 May 2024	3,470		3,470

5. Debtors

	2025		2024
	£		£
Trade debtors	32,165		18,606
Prepayments	33,023		39,930
Other debtors	6,912		6,828
	72,100		65,364

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	45,040		65,113
Accruals and deferred income	46,163		33,127
Taxation and social security	36,213		49,965
Other creditors	6,674		8,999
	134,090		157,204

7. Liability of members

The members of the British Promotional Merchandise Association Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.