British Pump Manufacturers Association - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06936735 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2020

FOR

BRITISH PUMP MANUFACTURERS ASSOCIATION

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S J Schofield

J W Veness

R J Harden

D Croker

W Rose

L J Tebbatt

REGISTERED OFFICE:

National Metalforming Centre

47 Birmingham Road

West Bromwich

West Midlands

B70 6PY

REGISTERED NUMBER:

06936735 (England and Wales)

INDEPENDENT AUDITORS:

Fields, Statutory Auditors

2nd Floor

Landchard House

Victoria Street

West Bromwich

West Midlands

B70 8ER

BANKERS:

Lloyds Bank Plc

113 The Border

Telford Shopping Centre

Telford

Shropshire

TF3 4AE

FIXED ASSETS

Tangible assets

4

38,134

51,433

CURRENT ASSETS

Debtors

5

112,705

63,598

Cash at bank and in hand

205,214

213,958

317,919

277,556

CREDITORS

Amounts falling due within one year

6

96,813

64,883

NET CURRENT ASSETS

221,106

212,673

TOTAL ASSETS LESS CURRENT LIABILITIES

259,240

264,106

CREDITORS

Amounts falling due after more than one year

7

33,666

44,945

NET ASSETS

225,574

219,161

RESERVES

Income and expenditure account

225,574

219,161

225,574

219,161

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd November 2020 and were signed on its behalf by:

S J Schofield - Director

R J Harden - Director

1.	STATUTORY INFORMATION

British Pump Manufacturers Association Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard.

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts recognised in the financial statements are as detailed below.

Turnover

Turnover consists mainly of members' subscriptions which are recognised in the year to which they relate. Other income, including courses and advertising, is recognised when the relevant service or activity takes place. Turnover excludes 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.

Furniture and fixtures - 25% on reducing balance

Pump System Training Rig - 20% on cost

Office Equipment - 33% on straight line

Motor Vehicles - 25% on reducing balance

Financial instruments

The company only enters into basic financial instrument transactions, that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable. Basic financial instruments are recognised at amortised cost.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

Contributions payable into pension schemes by the company, on behalf of its employees, are charged to the profit and loss account in the period to which they relate.

Operating leases

Rentals payable under operating leases are charged to the income account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Pump

Furniture

System

and

Training

Office

Motor

fixtures

Rig

Equipment

vehicles

Totals

£

£

£

£

£

COST

At 1st July 2019

and 30th June 2020

554

9,500

5,975

66,210

82,239

DEPRECIATION

At 1st July 2019

338

9,500

4,416

16,552

30,806

Charge for year

50

-

831

12,418

13,299

At 30th June 2020

388

9,500

5,247

28,970

44,105

NET BOOK VALUE

At 30th June 2020

166

-

728

37,240

38,134

At 30th June 2019

216

-

1,559

49,658

51,433

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st July 2019

and 30th June 2020

66,210

DEPRECIATION

At 1st July 2019

16,552

Charge for year

12,418

At 30th June 2020

28,970

NET BOOK VALUE

At 30th June 2020

37,240

At 30th June 2019

49,658

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

93,499

45,222

Other debtors

19,206

18,376

112,705

63,598

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

11,280

11,280

Trade creditors

31,104

5,657

Taxation and social security

22,556

12,955

Other creditors

31,873

34,991

96,813

64,883

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

33,666

44,945

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

The Report of the Auditors was unqualified.

Stella Louise Broomhall (Senior Statutory Auditor)

for and on behalf of Fields, Statutory Auditors