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Company registration number: 00417640
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FOR THE YEAR ENDED
31 DECEMBER 2025
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
OFFICERS AND PROFESSIONAL ADVISERS
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I Maes (appointed 23 June 2025)
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N Maleschitz (appointed 2 June 2025)
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4th Floor 95 Gresham Street
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Cooper Parry Group Limited
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Chartered Accountants & Statutory Auditor
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5th Floor, Broadwalk House
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00417640
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Income and expenditure account
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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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................
A M Bush
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The notes on pages 2 to 13 form part of these financial statements.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
International Lead Association is a private company limited by guarantee, domiciled in England and Wales, registration number 00417640.
The principal place of business is 120 New Cavendish Street, London, W1W 6XX.
The registered office is 4th Floor 95 Gresham Street, London, United Kingdom, EC2V 7AB.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Turnover is generated from three main revenue streams and is recognised as follows:
∙Subscription income is recognised over the period of membership.
∙Conference income is recognised at the point the event takes place.
∙Management fee income is recognised over the period which it refers.
Where the period of recognition overlaps an accounting period it is accrued or deferred and included within current assets or liabilities as appropriate.
All turnover is recorded net of applicable taxes.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Defined benefit pension plan
The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The asset recognised in the Statement of Financial Position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income.
The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.
The Association acts as a co-ordinator for projects undertaken for the benefit of the lead industry and manages the assets and liabilities associated with these projects. As the Association does not control these assets and liabilities, in accordance with Financial Reporting Standard 102 they have been excluded from the balance sheet.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Foreign currency translation
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Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Operating lease agreements
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Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the period of the lease.
These financial statements have been prepared on a going concern basis.
The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.
The Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios alongside measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
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Significant judgements and estimates
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In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Directors' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period,
or in the period of the revision and future periods, if the revision affects both current and future periods.
Defined benefit scheme
The present value of the Defined Benefit Scheme asset depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 9, will impact the carrying amount of the pension asset.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Financial assets and liabilities - classified as basic financial instruments
(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.
(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for
impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.
At the end of each reporting period, the company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.
(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.
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The average monthly number of employees during the year was as follows:
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by connected companies
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to connected companies
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Other taxation and social security
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Accruals and deferred income
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charged to profit or loss
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Charged to other comprehensive income
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Accrued pension contributions
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Company limited by guarantee
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The Association is a company limited by guarantee. The liability of the members being limited to £5 in the event of the winding up of the Association.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a Defined Contributions Pension Scheme.
The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £94,939 (2024 - £86,764). Contributions totalling £9,336 (2024 - £16,969) were payable to the fund at the reporting date.
The Company operates a Defined Benefit Pension Scheme.
The assets of the scheme are held separately from those of the Company. The scheme closed to new entrants on 30 June 2007. During the year a contribution of £Nil was paid into the scheme (2024 - £50,000). The actuarial valuation to 31 December 2025 was carried out by Mercer on 16 March 2026.
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Reconciliation of present value of plan liabilities:
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Reconciliation of present value of plan liabilities
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At the beginning of the year
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Composition of plan assets:
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Fair value of plan assets
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Present value of plan liabilities
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
9.Pension commitments (continued)
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The amounts recognised in profit or loss are as follows:
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Interest income on plan assets
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Actual return on scheme assets
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Reconciliation of fair value of plan assets were as follows:
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Opening fair value of scheme assets
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Interest income on plan assets
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Actuarial gains and (losses)
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Analysis of actuarial loss recognised in Other Comprehensive Income
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Actual return less interest income included in net interest income
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Experience gains and losses arising on the scheme liabilities
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Changes in assumptions underlying the present value of the scheme liabilities
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
9.Pension commitments (continued)
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Principal actuarial assumptions at the reporting date (expressed as weighted averages):
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- at 62 for a male aged 42 now
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- for a female aged 62 now
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- at 62 for a female member aged 42 now
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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Members of the company are also members of ILA 2.
At the balance sheet date the Association owed £622,612 (2024: £622,612) to ILA 2.
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INTERNATIONAL LEAD ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Association co-ordinates projects for the benefits of the lead industry and does so through associated entities.
The Association received an annual management fee amounting to £436,929 (2024: £427,115) for co-ordinating these projects from Lead REACH Consortium.
At the year end the Association was owed £14,268 (2024: £65,256) by the Lead REACH Consortium.
The Association incurred expenditure from International Lead Association Inc of £893,711 (2024: £769,231) during the year.
At the year end the Association owed £332,439 (2024: £266,678) to International Lead Association Inc.
The Association incurred expenditure from the VZW International Lead Association of £97,700 (2024: £54,367) during the year.
At the year end the Association owed £Nil (2024: £132,247) to VZW International Lead Association.
The Association co-ordinates projects for Consortium for Battery Innovation. At the year end the Association was owed £246,058 (2024: £115,308) from the Consortium for Battery Innovation
The Association co-ordinates projects for the VLRA Programme. At the year end the Association owed £18,670 (2024: £17,734) to the VLRA Programme.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 27 August 2026 by Chris Evans FCA (Senior Statutory Auditor) on behalf of Cooper Parry Group Limited.
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