BPF Annual Review 2025: Finance Report
Statement to Members from Darren Muir, Finance Director, British Plastics Federation
The year of 2025 was one of continued challenge for many fellow trade associations and businesses alike with economic uncertainty, cost pressures and changing market conditions continuing to affect the wider industrial landscape. Against this backdrop, I am pleased to report that the BPF has again demonstrated resilience, stability and prudent financial management.
The statutory accounts for the year ended 31 December 2025 make reassuring reading and importantly, we have once again received a clean audit report with no issues raised by the auditors. The final figures were confirmed in line with the forecasts discussed throughout the year which demonstrates the strong financial control and discipline maintained across the organisation.
Total income for 2025 increased to approximately £3.43 million compared with £3.36 million in the previous year.
This growth was driven principally by increased membership income, which remains a strong endorsement of the value and support that the Federation provides to the industry. We also benefitted from the full tenancy of BPF House providing stable and reliable rental income.
Events activity also performed particularly well during the year increasing significantly on the prior year highlighting the continued return and appetite for industry engagement and networking opportunities.
Administrative expenses increased modestly to £3.42 million primarily due to continued investment in our staff, systems, infrastructure and member support activities. As ever, these costs have been carefully controlled whilst ensuring that the Federation remains properly resourced to support members effectively in an increasingly complex operating environment.
The Federation recorded a pre-tax surplus of £47.5k and a small post-tax deficit of approximately £11.5k. However, this should be viewed in context. This is largely as a result of a deferred tax adjustment. How can this be you ask? In simple terms, deferred tax is merely an accounting mechanism that reflects timing differences between when income or expenditure is recognised in the accounts and when it is recognised for tax purposes.
So, in practical terms:
- it is not an additional tax bill,
- it is not a cash payment,
- and it does not impact the day-to-day financial strength of the Federation.
It simply ensures that tax is allocated to the correct accounting periods over time and is largely driven by technical adjustments relating to capital allowances and the historic property revaluation of BPF House.
Operationally, the organisation remained stable and cash generative whilst our balance sheet and overall reserves position continued to strengthen.
Turning to the Statement of Financial Position or the “Balance Sheet” as most of us still insist on calling it! This remains extremely strong with net assets increasing to approximately £3.78 million. Cash balances also strengthened during the year to over £2.59 million, giving the Federation significant stability and resilience moving forward. I am also pleased to note that our accumulated funds remain strong at over £1.26 million, providing the Federation with both security and the ability to continue investing in services and support for the membership.
Finally, from a finance perspective, I would like to place on record my thanks to Darren and the BPF’s Finance Team for their continued professionalism and stewardship throughout the year, together with the valuable support and oversight provided by my colleagues on the Strategy and Finance Committee.
Thankyou
| Darren Muir Finance Director British Plastics Federation |
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