Charity registration number 1016699
Company registration numbèr 02776194 (England and Wales)
THE INSTITUTE OF PROFESSIONAL SOUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE INSTITUTE OF PROFESSIONAL SOUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M J Felton
E J Wllelt
R K Graham
S J Bishop
C M Macnab
SMHClark
G Hewis
JPCGough
P Banfield
P Bridges
D Carugo
M Cheffin5
Tcury
(Appointed 28 June 2023)
(Appointed 28 June 2023)
{Appointed 28 June 2023}
(Appointed 28 June 2023>
(Appointed 28 June 2023)
Secretary
Mr M Johnson
Charity number
1016699
Company number
02776194
Registered office
24 Park Road South
Havant
Hampshire
United Kingdom
P09 1HB
Independent examiner
Azets
24 Park Road South
Havant
Hafflpshire
Unrted lQngdom
P09 1HB

THE INSTITUTE OF PROFESSIONAL SOUND
CONTENTS
Page
Trustees. report
Statement of trustees. responsibilities
Independent examinerfs report
statement of financAal activities
Balance sheet
Notes to the financial statements
8-13

THE INSTITUTE OF PROFESSIONAL SOUND
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors of The Institute of Professional Sound for the purpose of company law, are
responsible for preparing the Trustees. Report and the ffinancial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair
view of the slate of affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure. of the thatitable company for that year.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently-
- observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent..
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements- and
prepare the financial statements on the going concem basis unless il is inappropriate to presume that the charity
will continue in operation.
The trustees are responsible for keeping adequale accounting records that disclose wilh reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial slatements comply with the
Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charty and hence for taking
reasonable steps for the prevention and detection of fraud and other i￿egUlarltieS.

THE INSTITUTE OF PROFESSIONAL SOUND
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and financial statements for the year ended 31 March 2024.
The trustees are also directors of the charity for the purposes of the Companies Act 2006. The trustees, report
contains a directors, report as required by company law.
The financial statements have been prepared in accordan￿ with the accounting policies set out in note 1 to the
financial statements and comply with the charity's governing document, Ihe Companies Act 2006 and Accounting
and Reporting by Charrties-. Statement of Recornmended Pracb"ce applicable to charities preparing their accounts in
accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective
1 January 2019}.
Objectives and acllvllles
The charity's objects are to promote the widest understsnding of professional audio in all its contexts and to
promote the cullural and educational benefits resulling from producing sound of high technical and artistic quality- in
particular, by encouraging the maintenance of the highest professional standards among sound operations
personnel, securing improvements in the art and technique of operational sound resulting in such cultural and
educational benefrts, promoting and publishing the relevant resufts of experiment and research designed lo secure
such improvements. and providing a forum for the exchange of information.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what artivities the
charity should undertake.
In performing our activilies we have considered the Charity Commission's general guidance on public benefil per
our duly outlined in s17(5} of the Charilies Act 2011.
Significant activities
General activities maintained. The focus this year has been on support for members and increased fund raising
and support events.
Achievements and performance
Membership of the IPS:
The membership is drawn primaiily from audio professionals working in operalional posts within the UK audio
industry and related professional audio fields. There are a number of members from Europe and Ihe rest of the
wortd who share the same aims and ideals as those member5 in the UK.
The IPS has three main categories of member - Full. Affiliate and Student. The category of Affiliate also caters for
those in related industries. for example, rnanufacturing and further education establishments who have expressed
an interest in the work of the IPS and wish to be assouated with it. student members are those who are slill
receiving formal education on a fijlktime course or other relevant studies.
From the foregoing it will be seen thal membership of the IPS 15 open initially to a wide group of individuals with a
common interest in audio. Much of what IPS prodU￿S is atso available to the public through the website and
publications.
Funding of the IPS_.
The primary source of funding for the organisation is by annual subscription. There is an additional source of
income provided by commercial companies who wish to be associated wrth the activities of the IPS and have
become Sponsor Companies of the Institute.

THE INSTITUTE OF PROFESSIONAL SOUND
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
Financial position
The trustees are pleased with the progrèss achieved in reviewing rts financial position and implementing changes lo
ts operational focus. Finances and activities are regularly monilored and sufficient reserves held to cover short
lerm needs.
Throughoul the year under review the IPS has been able to mainlain a mostly positive financial position. wilh a
healthy bank balance, thai gives secutity for the continued activities of the In5titule.
With the changing social climate this year it has become possible to mount face to face meetings for the
membership and guests, returning to the past success of such meetings prior to the Covid pandemic.
A number of successful members. meetings were held throughout the year, in various localions, affording the
members good ne￿orking opportunities as well as the benefit of hearing presentations at first hand.
Two particular events of nole were the Pro Audio 23 one-day trade show and the very successful residential
Training Weekend held at WaThvick Universrty.
It is the policy of the charity that unrestricted funds which have not been designaled for a specffic use should be
maintained at a level equivalent to a minimum of ￿e1ve month's expenditure. The trustees consider that reserves at
this level will ensure that, in the event of a significant drop in funding. they will be able lo continue the charity s
current activities while consideralion is given to ways in which additional funds may be raised. This level of reserves
has been maintained throughout the year.
The amount of funds the charity holds at 31 March 2024 is £65.245.
The trustees have assessed the major risks to whiGh the charity is exposed, and are satisfied that systems are in
place to mitigate exposure to the major risks.
structure, governance and management
The charily is a company limited by guarantee as defined by the Companies Act 2006. It is controlled by its
governing document, a deed of trust.
The original deed was dated January 1993 and was updated in April 2018.
The trustees, who are also the direclors for the purpose of company law. and who served during the year and up to
the dale of signature of the finanGial statemenls were..
M J Felton
E J Willett
R K Graham
S J Bishop
C M Macnab
SMHClark
G Hewis
JPCGough
P Banfield
P Bridges
D Carugo
M Cheffins
T Curry
(Appointed 28 June 2023)
(Appointed 28 June 2023)
(Appointed 28 June 2023)
{Appointed 28 June 2023)
{Appointed 28 June 2023)

THE INSTITUTE OF PROFESSIONAL SOUND
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Any person who is a Full Member of the Instrtute and is willing to act as an Executive Committee member, and is
permitted by law to do so, may be appointed to the Executive Committee -
(al by ordinary rasolution passed at the Annual General Meeting of the Instit￿e or
{b} by a decision (invitation) of the existing Executive Commitee.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and
guarantee to conlribute £1 in the event of a ¥￿ndIng up.
The Committee may from time to time, and al any time. co-opt any Full Member of the Instilule as a member of the
Executive Committee. either to fill a casual vacancy or by way of addition to the Executive Committee, provided that
there shall nol be more than 10 co-opied membets of the Executive Committee at any one time. Any member so
appointed shall retain their office only until the next knnual General Meeting. but they shall then be eligible for
election.
No person who is not a Full Member of the Institute shall in any cirajmstances be eligible to hold office as a
member of the Executive Committee.
The Executive Committee sh211, from their number. appoint the Offi￿r5 of the Institute as they see frt.
The IPS is governed by its Memorandum and Artides of Associatson which sets out the agenda for the trustees.
The trustees are all members of the Executive Committee of the IPS led by their Chairman. AJI the members of the
Executive Committee (ECI are drawn from the membership of the organisation and ale elected annually at the AGM
by the membership. as laid down in the Memorandum and Artides of Association.
AII EC members and their Chairman operate in a purety voluntary manner wf(hout financial reward, save for the
reimbursement of reasonable expenses incurred in the performance of their duties for the Commitiee. The daily
administration of the organisation in undertaken by the Secretariat, currently one individual working on a part-time
basis. for which he is remunerated accordingly.
The trLtsSt
es, report was approved by the Board of Twstees.
Mr M Johnson
Secretary
Date..

THE INSTITUTE OF PROFESSIONAL SOUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE INSTITUTE OF PROFESSIONAL SOUND
I report to the trustees on my examination of the financial statements of The Institute of Professional Sound
(the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law} you are responsible for
the prepaialion of the financial statements in accordance with the requirements of the Companies Act 2006
{the 2006Act).
Having satlsfied myself that the finan￿al statements of the charity are not ￿qUIred to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the
charity's financial statements carned out under section 145 of the Charities Act 2011 (Ihe 2011 Act). In carrying
out my examination I have followed all the applicable Directions given by the Charity Commission under
section 145{5)(b} of the 2011 Act
Independent examinerfs statement
I have Gompleted my examination. I confirm Ihal no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect=
accounting records were not kept in respect of the charity as required by seclion 386 of the 2006 Act,. or
the financial statement5 do not accord with those records- or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirernenl that the accounts give a true and fair view which is not a matter considered as
part of an independenl examination., or
the financial statements have not been prepared in accordance with the methods and principles of the
Slalement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance wilh the Financial Reporting Standard appliGable in the UK and
Republic of Ireland (FRS 102>.
I have no concems and have come across no othei matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial statements to
be reached.
Richard Hutchinson- FCCA
Azets
24 Park Road South
Havant
Hampshire
PO91HB
United Kingdom
lts

THE INSTITUTE OF PROFESSIONAL SOUND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Unrestricted
funds
funds
2024
2023
Notes
Income from:
Donations and legacies
Charitable activitie5
Inve5tment5
47,534
39,213
1,475
46,863
9.489
339
Total income
88.222
56,691
Ex enditure on:
Raising funds
554
440
Charitable activilies
95.733
37,673
Total expenditure
96.287
38,113
Net {expendItu￿)IlnCOme for the yearl
Net movement in funds
{8,065)
18,578
Fund balances al 1 April 2023
73,310
54,732
Fund balances at 31 March 2024
65.245
73,310
The statement of financial activrties includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

THE INSTITUTE OF PROFESSIONAL SOUND
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notss
Fixed assets
Tangible assets
10
704
652
Current assets
Debtors
Cash at bank and in hand
11
6,352
83,801
4,267
71,308
90.153
75,575
Creditors: amounts falling due within
one year
12
(25,612)
{2,91n
Net cuirent assets
64.541
72,658
Total assets less Current liabilities
65.245
73,310
Income funds
Unreslricted funds
65,245
73,310
65.245
73,310
The company is entitled to the exemption from ihe audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2024.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in
accordance wilh section 476.
These financial slatements have been prepared in accordance with the provisions applicable to companies subjed
to the small companies regime.
The financial statements were approved by the Trustees on ....... ...
S J Bishop
Trustee
SMHClark
Trustee
Company registration number 02776194

THE INSTITUTE OF PROFESSIONAL SOUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
A¢counting ptslicies
Charity Inforniatlon
The Institule of Professional Sound is a ptivate company limited by guarantee incorporated in England and
Wales. The registered offKe is 24 Park Road South. Havant, Hampshire, P09 1HB, United Kingdom.
1.1 Ateounting convention
The financial statements have been prepared in accordance with the charitys goveming document, the
Companies Acl 2006 and Accounting and Reporting by Charities: Ststement of Recommended Practice
applicable to charities preparing their accounts in a￿ordanCe with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 2019). The charity is a Public
Benefit Entily as defined by FRS 102.
The charity has taken a(Ivantage of the provisions in Ihe SORP for charities applying FRS 102 Update Bulletin
1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling.. which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements contain information about The Institute of Professional Sound as an individual
ompany.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the finanoal stslements. the trustees have a reasonable expectation that the chatity
has adequate resources to continue in operational existen￿ for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitsble funds
Unreslricted funds are available for use at the discretion of the trustees in furtheran￿ of Iheir charitable
objeclives.
Restricted funds can only be used for particular restricted purposes wtthin the objects of the charity.
restrictions arise when specffied by the donor or when fijnds are raised for pa￿'Cular restricted purposes.
The charity does not have any restricted furKls at the balance sheet date.
Restricted funds ale subject to specific conditions by donors as to how they may be used. The purposes and
Uses of the restricted ￿ndS are set out in the notes to Ihe financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charity.
1.4 Income
Income is recognised when the charty is legally entitled to it after any pertorrnance conditions have been met,
the amounts can be measured reliably. and it is probable that income will be received.
Income is the amounls derived from the provision of goods and services.

THE INSTITUTE OF PROFESSIONAL SOUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued}
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is ac¢ounted for on an accruals basis and
ha5 been classified under headings that aggregate all costs related to the category. Where costs cannot be
directly attributed to particular headings they have been allocated lo activities on a basis consistent with the
use of resources.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
The assets, residual values. useful lives and depreciation methods are reviewed and adjusled prospeGlively if
appropriate.
Depreciation is recognised so as to wriie off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Fixtures and fittings
20_ 330h on cost
The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the slatemenl of financial activities.
1.7 Impairnient of fixed assets
At each reporting end dale, the charity reviews the carrying amounts of its tangible assels lo determine
whether there is any indication that those assets have suffered an impaimient loss. If any such indication
exists, the reGoverable amount of the asset is estimated in order to detemiine the extent of the impairment
loss (rf any).
1.8 Cash and cash equivalents
Cash and cash equivalents 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 current liabilities.
1.9 FinanGial instruments
The charity has elected to apply Ihe provisions of Section 11 'Basic Financial Instruments. and Section 12
'Olher Financial Instruments Issues. of FRS 102 to all of rts financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charty becomes party to the
ontractual provisions of the instrumenl.
Financial assets and liabilitie5 are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to sel off the recognised amounts and there is an intention 10 settle on a net
basis or to realise the assel and settle the liabilty simultaneously.
Basic financial assets
Basic financial assets. which include debtors and cash and bank balances, are initially measured at
transaction price induding 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
lassified as receivable wilhin one year are not amortised.

THE INSTITUTE OF PROFESSIONAL SOUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued
Basic financial liabilities
Basic financial liabiltties, including credilors are initially recognised at transaction price unless the
arrangement constitutes a financing transaction. where the debt instrument is measured at the present value
of the future payments discounted at a market rate of interest. Finanual liabilities classified as payable within
one year are not amortised.
1.10 Taxation
The charity is exempt from corporation tsx on its charitable adiwties.
Donations and legacies
Unrestricted Unrestricted
funds
funds
2024
2023
Membership fee5
47,534
46,863
Charitable
activities
Event Incom9
T¢)lal
2024
Event income
Total
2023
2024
2024
2023
2023
Sales within
charitable activities
Sales of services by
benefieiaries
Other income
35,463
35,463
8,704
8.704
35
750
35
750
3,750
3,750
3,750
35,463
39,213
785
8,704
9,489
Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
1,475
339
10-

THE INSTITUTE OF PROFESSIONAL SOUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Fundraisin and ublici
DepreGiation and impairment
271
163
Tradin costs
Support costs
283
277
554
440
Charitable activities
Event costs Event costs
2024
2023
Event costs
59,657
9,213
Share of support costs {see note n
Share of governance costs {see note 7)
33.274
2.802
25,320
3,140
95.733
37.673
11

THE INSTITUTE OF PROFESSIONAL SOUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Governance
costs
costs
2024
Support Governance
Costs
costs
2023
Meetings
Executive committee
Business services
Telephone and postage
Website and email costs
Exhibitions and
promotional
Bank charges
Insurance
Subscriptions
1,197
2,712
17,628
1,581
2.851
1,197
2,712
17.628
1.581
2.851
158
1,338
16,730
1.707
2,736
158
1,338
16,730
1,707
2,736
5,352
5.352
154
283
1.800
722
129
277
1,800
722
129
277
1,800
283
1.800
Accountancy fees
Bookkeeping
2.802
2.802
2,640
500
2,640
500
33.558
2,802
36,360
25,597
3,140
28,737
Analysod between
Trading
Charitable activities
283
33,275
283
36.077
277
25.320
277
28,460
2,802
3,140
33,558
2.802
36.360
25.597
3,140
28,737
Govemance costs includes payments for Independent exarnination fees of £4C(1 {2023- £200).
Trustees
None of the trustees {or any persons connected with them) re￿iVed any remuneration or benefits from the
charity during Ihe year.
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxalionof Chargeable Gains Act 1992 to Ihe exient that these are applied to its charitable objects.
12-

THE INSTITUTE OF PROFESSIONAL SOUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Tangible fixed assets
Flxture5 and fittings
Cost
At 1 April 2023
Additions
815
323
At 31 March 2024
1,138
Depreciation and impaimient
At 1 April 2023
Depreciation charged in the year
163
271
At 31 March 2024
434
At 31 March 2024
704
At 31 March 2023
652
11 Debtors
2024
2023
Amounts falling due within one year:
Prepaymenls and accrued income
6,352
4.267
12 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
20.521
5,091
2,917
25.612
2,917
13 Related party transactions
There were no disclosable related party transactions during the year (2023- none).
13-