REGISTERED COMPANY NUMBER: 02822785 ffjngland and Wales) REGISTERED CHAIUTY NUMBER: 1029545 THE INDEPEIYDENT GROUP OF ANALYTICAL PSYCHOLOGISTS iJNAUDITED FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 AUGUST 2024 Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BRI 3RA
E INDEPENDENf GROUP OF ANALYTICAL PSYCHOLOGISTS CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 August 2024 Page Report of the trustees Independent examlner's report Statsment of fingnelal acllvides Balanee sheet Notes to the flnanelal statements 8 to 13 Detailed statement of fknan¢iAI activltieg 14 to IS
THE INDEPENDENT GROUP OF ANALYTICAL PSYCHOLOGISTS REPORT OF THE TRUSTEES for the year ended 31 August 2024 The trnstees WI are also dlrectors of the charity for the puw)ses of the Companies Act 2006, present th¢ir rewrt with the financial statements of the charity for the year ended 31 August 2024. The tmstees have adopted the PTovisions of Accounting and Reporting by CJHrities: Statement of ReCOn)ended Practice &pplicabl¢ to charities preparing their a¢¢ounts in accordane¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Publ1¢ benefit The charity is a not for profit entity, that offers a PTogramme of prepardtion to bee4)m¢ a Jungian Analyst and a series of seminars open io the public, referrals for Jungian Analysis and low cost analysis, as explained fither in this report under th¢ Objeclivus and Activittes heading. The trustee5 have had r¢gard to Charity Commission guidance on publi¢ benefit and consider that the objectiv, aims and achievements of the charity described in the Teport enable it to meet its duty to the Charity Commission as per section 17 of the Charities Act 20 I l. and to the benefit of the public. FINANCL4L REVIEW FEDfdncial r¢view Total incoining resources for the year amounted to £79,944 (2023.. £77,476), During the year the Investm1$ experienced a gain of £55.624 (2023 Ios5.' £46,978). Membership fe¢ revenue has increased sliglitly to £24,967 {2023: £22,145) An line with an increase in the level of membership fees. Charitable expenditure during the Ye totslled £85,311 (2023: £81,354). Directo, expens&s increasL.d with the retum to in-persoll meetings, but there was no Convenor payment made during th¢ year. future Meetings will aim for balance of in-person and electronic. meaning costs (director expenses and hall hire) are likely to increase. The IGAP conferenee at Hawkwood had an anonyinous donor cover Son bursaries for Candidates, meaning the eve))t broke even. Overall the charity reported a Surplus of £49,658 (2023 deficit: £51,008) this is after unrealised gains of £24.115 (2023 losses.. £49,428) on investments. PrlnclpAI fundlng source There are three main sources of fimding: - An annual mejnbership fee paid by all active members of the organisatioTL - The Studies Programme, for which Candidates pay a discounted Studies fee, with Members of the public paying the advertised rate. - A set aTmual fee from Candidales. Investment polley Under the Meinorandum and Articles of Association, the charity has the wjwer to make any inveslment which the trustees see fit. The trus*es take professional advice from qualified invesknenl advi.qors wh¢n making invcstment derisions. All investments are held in a charitable trust fund, with advisors implementing a risk adVee investrnent stTalegy. Reserves polity The present level of funding 18 adequate to support the continuation of the objectives of the chaTitable company. FUTURE PLANS The Independent Group of Analytical Psychologists is a democratic organisation, which responds to problems or opportunities as they arise. The aims and aspirations of the Association remain as defined above. FutUTe development will be mainly concentrated on maintaining the Studies Progran]me and ensuring that all Candidates aTe offered a rigorous and professional Programme of Preparntion. Page I
THE INDEPEiYDENT GROUP OF ANALYTICAL PSYCHOLOGISTS REPORT OF THE TRUSTEES for the year ended 31 August 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Governlllg dorument The organisation is a charitsble company limited by guarantee, incorporated on 28 May 1993 and registered as a cbarity on 28 May 1993. The company was established under a Memorandum of Aociation whi¢h established the objects and powgrs of the charitable company 2nd is governed under its Articles of Association. In the ¢vent of the company being wound up members are required lo contribute an amount not exceeding £1. Recrultment and appointment of new trustees The directors of the company are also ¢harity trustees for the purposes of charity law and under the compan5Ps Articles are known as members of the Management Committee. Under the Tequircments of the Memorandum and Articles of Association the mcmbets of the ManagLnient Conunittee are elected to serve for a period of three ye8 after which they must be re-elctited at the next Annudl Genernl Meeting. Organfisational structure The Management Committee or Council consists of three to eight people, some with specific areas of responsibility. Regul rneetillgs are held, at which d¢¢isions are mad¢ on the operational tunlling of the Company. These decisions must however be ratified by the rest of the org&iisation at a general meeting, called a Business Meeting. Day to day admintration is handled by an employed secretary. employed on a contra¢thal basis. Objectives and actlvities The Independent Cyroup of Anal>tical Psychologists, Memorandum of Asyociation states that the objects of the Association are.. - to advance publi¢ knowledge of the work of C. G. Jung its development in the field of Analyti1 Psychology and to provide vocational preparation frIT Suitable persons wishing to become Jungian analysts - to fosfrr relationships with other local groups &t work ill the samc and r¢lat¢d endeavours to relieve person5 suffering from mental disordeis by the provision for such persons of appropriate therapy in accordance with the principles of Jungian therapy. tn furtheranee of these aims The Independent Group of Analytical Psychologists organises a Study Programme for those preparing to become Jungian Analysts and for members of the public who are interested in or professionally involved with Jungian psychology. The Independent Group of Analytical Psychologists also runs a Progrnmme of Preparation for those .qelected to train as analysts. Those on the Programm¢ continu¢ in personal analysis, attend the study programme, meet regularly with their R¢view Committee, take examinations and present written work. In the filtal stages of the Programme they are required to work for a specified minimum number of hours with several clients under supervisiofj, Inductlon And trainlng of new trustees Whenever a new niember is voted to becorne a member of the Manageftnent Committee, and if that post ha8 a specific responsibility, he/she works ¢losely wtth th¢ outgoing member to ensure a smooth handover of responsibiliti. Each member of the Management Committee is asked to study the Cjtsrity Commission website, in particular the section on Chartty Governance. Aehievements &nd performydnce During the fmanciai year, five tixining Candidates beCae members of the organi58tion, while one member re8ign¢d his membership and three more tetired. No new training Candidates were accepted. Counsellin& Advice and Information Candidates are rcquired to be in their own personal psychotherapy (analysis) throughout the COU of their tratning. Enquiries about psy¢hotherapy from the pubIic to the office are referred to a Dmber who will ¢olltact the enquirer personally to ascertain their needs and thefftr suitability for working analytically. This being so, oue or two names of memb¢T5 will be sugg&sted to the or. they will be referred to another orgauisation depending on the particular kir of psychotherapy which they are seekin& or which is considered best in each individual ¢ase. An enquirer may> according to their circumstances, be offered low cost psychotherapy, as a tiaining patient, with an AdvaD¢ed Candidate. All Advanced Candidates with training cases work under supervision with a senior analyst. Page 2
THE INDEPENDENT GROUP OFANALYTICAL PSYCHOLOGISTS REPORT OF THE TRUSTEES for the year ended 31 August 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The Trnstees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, cornbined with an annual review of the controls over key financial systems, will provide suificient resources in the event of adverse conditions. The twstees have also examined other operational and business risks faced by the charitable company and confirm that they have established systems to mitigate the signifIcant risks. REFERENCE AND ADMtNISTRATIVE DETAILS Registered Company number 02822785 (England and Wales) Registered Charity number 1029545 RegEstered offlce Lygon House 50 London Road Brornley Kent BRI 3RA Tru8t¢es Ms J M B David (resigned 3.2.2024) Dr D Z Hirst (resigned 3.2.2024) P Fisher Dr M L Martin Ms A J C Shearer (resigned 3.2.2024) Dr S Karvounis (resigned 3.2.2024) Ms P A Boisset Ms PA Melliar (appointed 3.2.2024) Company Seeretary Ms C Craig Independent Examiner Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BRI 3RA Approved by order of the board of trustees on ........February 2025.....................,............... and signed on its behalf by: Ms P A Boisset - Trnstee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INDEPENDENT GROUP OF ANALYTICAL PSYCHOLOCISTS Jndependent examiner's report to the trustees of The Independent Crollp Of Analytical Psychologists ('the Compally,) I report to the clwity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of th¢ Company (and also its directors for the purposes of company law) you are responsil)l¢ for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 {'th¢ ?01 l Act'}. In carying out my examination I hav¢ followed the Dirertions given by the Charity Commission under Section 145(5) Ib) of the 201 l Act. Independent txaminer's statement I have completed my examination. l ¢onfm that no matters have come to my attention in connection with the examination giving me Cause to believe: accounting record5 were not kept in respect of the Company as required by stion 386 of the 2006 Act, or the acLounts do not accord with those records. or the accounts do not comply with the accounting requirements of Srftion 396 of the 2006 Act oth¢T than any requiremeirt that the accounts give a true and fair view which is not a matter considered a5 part of an independent examination. or the accounts have not been prepared in accordance with the methods and principlcs of the Statement of Recommeiided Practic¢ for accounting and reporting by charities (applicable io charili¥s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ireland (FRS 102)). I have no conccrns and have Come across no other matters in conAiection with the examination to which attention should be drdwn in ihi5 report in order to enable a proper understanding of the accounts to be reached. o¢S¢ FCA e Institute of Chartered Accountants in England and Wal¢s Berringers LLP Chartcrl'd Accountants Lygon House 50 London Road Brornley Kent BRI 3RA Date.. Page 4
THE INDEPEIYDEiYf GROUP OF ANALYTICAL PSYCHOLOGISTS STATEMENT OF FINANCIAL AcfiviTIES (INCORPORATING AN INCOME AND EXPFNDITURE ACCOUNT) for the year eDded 31 August 2024 2024 Unre8trieted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Charitable actlviiies Training programine Memb¢rsbip fees 39,462 24,879 38,340 22,145 tnvestment incon]e 15A15 16.991 79056 77,476 EXPENDIT17RE ON Charltable acdvS1ies Trdining progrdmme Membership fees 85,311 (88) 81,354 Other 599 152 Total 85,822 81,506 Net gaillsl(losses) on investments 55,624 (46,978) IYET INCOMEI(EXPEfiDITURE) 49,658 (5 L,008) RECONC.II,IATION OF FUNDS Total fitnds brought torward 69A252 747,260 T(YTAL FUNDS CARIUED FORWARD 745,910 696,252 The notes forni part of these financial statem¢llts Page 5
THE INDEPENDEIYT GROUP OF ANALYficAL PSYCHOLOGISTS BALANCE SHEET 31 August 2024 2024 Unrestricted fund 2023 Total fimds Notes FIXED ASSETS Tangible assets Investmellts 1094 723,730 455 671281 725,824 671,736 CUIiRENT ASSETS Debtors Cash dt ballk io 1&274 7,526 12,881 18,727 25,800 31,608 CREDITORS Amounts fallillg due within one year (5,714) (7,092) NETCURRENT ASSETS 20,086 24,516 T(JTAL ASSETS LESS CURRENT LIABILII'IES 745,910 696,252 IYET ASSETS 745,910 696,252 FUNDS UnSIrICted fund8 12 745,910 696,252 TOTAL FUNDS 745,910 696,252 The rharitable company is entitled to exemption from audit under Section 477 of th¢ Companies Act 2006 for th¢ year ended 31 August 2024. The members have not required the company to obtain an audit of its fllwiCi statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006. Th¢ trustees acknowledge their responsibilities for ensuring that the charitllble Company keeps accounting records that cornply with Sections 386 and 387 of the Companies Act 2006 and prepaTing fancial stat¢ments which give a tnje and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplw or deficit for eacli financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relalllig to financial statements, so far as applicable to the charithble company. (b) The notes forni part of these fuclaI st2tenMIts Page 6 continued...
THE JIEPE[lDENT GROUP OF ANALYTICAL PSYCHOLOGISTS BALANCE SHEET- eontftnued 31 August 2024 These finanGial statements have been prepared in ardallee with the provisions applicable to charitable companies subject to the small companie8 regill. cÉal statements weTr approved by the Board of TTUStces and authorised for issue on .2.02..C.. and werc signed on its behalf by: PA Boisset - Trustee The notes forni part of these financial statements Page 7
THE INDEPEf4DENT GROUP OF ANALYTICAL PSYCHOLOGISTS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024 AccouKfiNG POLICIES Basls of preparing the fill¢141 statements The fanCIal stalem¢nts of the charitable company, which 18 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accountillg and Reporting by Charities: Statement of Recommended Practice applicable to chltieS prepIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Fiuaucial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the Iiistorical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ncome All income is re¢ognised in the Statement of Financial A¢tiviti¢8 once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as exp¢ndiiur¢ soon as there is a legal or constNGtive obligation committing the charity to that expenditure, it is probable that a transfer of economi¢ benefits will be required in settlement and the arnount of the obligation can be measured reliably. Expcndilur¢ is accounted for on an a¢cruS basis and has been classified under headin&¥ that aggregate all cost related to the cat¢gory. Where costs cannot be directly attributed to particular headings they have been alluLated to activities on 2 b&%is consistent with the use of resources. Expendirure assigned to charitable artivities in¢ludes support wsts. Tangible red assets Depreciation i8 provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment 200/0 on cost Taxatlon Th¥ Lharity is exempt from corporation tax on its charitable activilies. Fund ae¢ouDtlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular re8tricted purpoges within the objects of the charity. Restrictions art8e when specified by the donor or when funds are raised for particular restricted purposes. Furth¢r explanation of the nature and pUOSe of each fund is included in the notes to the financial statements. Penslon costs and other post-retlrement beneflts The chltable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension schetne are charged to the Statement of Financial Activities in the period to which they relate. FINed 4sset Investments Unlisted equity investtnents are initially recorded at cosL and subsequently measured at fair value. If fair valu¢ cannot be reliably measure4 assets are measured at cost less impairnienL Listed investments are m¢asured At fair value with changes in fair value being recognised in the statement of fllwicial artivities. Page 8 continud...
THE INDEPEIYDENT GROUP OF ANALYTICAL PSYCHOLOGISTS NOTES TO THE FINANCL4L STATEMENTS- ¢ontinued for the year ended 31 August 2024 INVESTMENT INCOME 2024 2023 Deposlt account illterest Investment income 142 15,373 63 16,928 15,515 16,991 SUPPORT COSTS Governance costs Training programme &J74 Support Sts, included in the above, are as follows,. Governance Costs 2024 Training PTogrdmm¢ 2023 Total activities A¢¢ountaney fees Legal & professional fees 4,500 3,674 4,290 9,053 &174 13,343 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated aft¢r charginl(crediting): 2024 2023 Depreciation - owned assets 599 152 TRUSTEES, REMUNERATION AND BEIYEFITS During the year trustees wcrc paid a total of £1,450 (2023: £600) for providing lectur and associafrd work unconnect¢d to th¢ii role as ttustees. Page 9 continued...
THE INDEPENDENT GROUP OF ANALYTICAL PSYCHOLOGISTS NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 August 2024 TRUSTEES, REMUNERATION AND BENEFITS - contlnued Trustees, expenses During the year trustees were reimbursed for travel. and other charity lated expenses, which they paid for personally. Total expenses paid to tLithes duTing the year totalled £1,462 (2023: £1,196). STAFF COSTS 2024 2023 Wages and salaries Other pension costs 31,652 900 30.528 900 32,552 31,428 The average monthly number of employees during the year was as follows: 2024 2023 Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted fjjnd INCOME AND LNDOWMENTS FROM Ch&rltable actlvlties Training programme M¢mbcrship fees 38,340 22,145 tnvestment income 16,991 TolAI 77,476 EXPENDrruRE OTrI Charltable activitlo$ Training programme 81,354 Other 152 Total 81,506 Net gaills/(108ses) on investments (46,978) NET INCOMEI(EXPENDITURE) (51,008) Page 10 continued...
THE INDEPEf4DENT GROUP OF ANALYIICAL PSYCHOLOGISTS NOTES TO THE FINANCIAL STATEMEN13- continued for the year ended 31 August 21124 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - contlnued Unr¢8triclcd fund RECONCILIATION OF FUNDS Total fiu5 broUt folward 747,260 TOTAL FUNDS CARRtED FORWARD 696.252 TANGIBLE FIXED ASSETS Computer equipment COST At I September 2023 Additions 5,577 2,238 At 31 Au8U8t 2024 7,815 DEPRECIATION At I September 2023 Charg¢ for year 5,122 599 At 31 Augu$t 2024 5,721 NET BOOK VALUE At 31 August 2024 2,094 At 31 August 2023 455 FIXED ASSET INVESTMENrs Listed inveslments MARKET VALUE At I September 2023 Additions Disposa18 Revalualions 671,281 683,157 (654023) 24,115 At 31 August 2024 723,730 NET BOOK VALUE At 31 August 2024 723,730 At 31 August 2023 671,281 There were no investment assets outside the UK. Pagell continued...
THE INDEPENDENT GROUP OF IlNALYficAL PSYCHOLOGISTS NOTES TO THE FINANCIAL STATEMENTS- contlnued for the year ended 31 August 2024 FLXED ASSET INVESTMEiYfs- eondnued Cost or valuation at 31 Aut 2024 is represented by.. Listed investments Valuation in 2024 18,936 704,794 723,730 io. DEBTORS: AMOUNTS FALLING DUE WITillN ONE YEAR 2024 2023 Other debtors Stockbroker a¢count Accrued income Prepayments 1,778 11,780 2,288 2,428 iio 10,824 685 1,262 18274 12,881 ii, CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors ACced expelt8 713 5,001 538 6,554 5,714 7,092 12. MOVEMENT FUNDS Net movement in ndS At 31.8.24 At 1.9.23 Unrestrlcted fundy Gelleral fund 696252 49.658 745,910 TOTAL FUNDS 696,252 49,658 745,910 Page 12 continued...
THE INDEPENDENT GROUP OF ANALYficAL PSYCHOLOGISTS NOTES TO THE FINANCIAL STATEMENTS - eontinued for the year ended 31 August 2024 12. MOVEMENT IN FUNDS- continued Net movernent in funds, included in the above are as follows: Incoming resouwes Resource8 expended Gains and losses Movement in funds Unrestricted funds General nd 79,856 (85,822) 55,624 49,658 TOTAL FUNDS 79,856 (85022) SS,624 49,658 ComparAtlves for movement In funds Net movement in fund5 At 31.8.23 At 1.9.22 Unrestricted funds General fynd 747,260 (51,008) 696,252 TOTAL FtrNDS 747,260 (51,008) 696,252 Comparative net rnovement in funds, included in the above are as follows., Incoming reSoUrS Resources expended Gains and Ios8es Movement in funds Unrestrictsd funds General fimd 77,476 (81,506) (46,978) (51,008) TOTAL FUNDS 77.476 (81,506) {46,978) (51,008) 13. RELATED PARTY DISCLOSURES ThL're were no related party transaGtion8, in addition to those disclosed tn note 5, for the year ended 31 August 2024. Page 13
THE INDEPENDEWf GROtrp OF ANALYfIcAL PSYCHOLOGISTS DETAILED STATEMENT OF FIIYANCIAL ACTIVITIES for the year ended 31 August 2024 2024 2023 INCOME AND ENDOWMKNTS Inve51ment income D¢posit account interest Investment in¢orne 142 15,373 63 16,928 Issis 16,991 Charitable 4ctivitRes Studies and leclu. fees Preparntion fees Membership fees 24,797 14,088 25,456 24.327 14,013 22.145 64J41 60,485 Total In¢oming rewurees 79156 77,476 EXPENDfTURE Cbaritable aelivitie8 Wages Pellsions Insurance Telephone Printing, postage & stationary Sundry expen5e$ Conferen¢e expenses Hall hire Preparntion. scminar & ItUre Directors, expenses Professional subscriptions Charilable donations Coputer costs Bank charges 31,652 900 951 479 938 30,528 900 747 272 771 533 6,460 1,024 16,350 685 7,662 8,964 907 14,709 1,033 7,568 511 6J51 206 2,015 77,049 68,011 Other Computer equipment 599 152 Support costs Governance ¢05ts Accountancy fees Legal & prof&gsional fe&s 4,500 3,674 4,290 9,053 8,174 13,343 This page does not forn) part of th¢ statutory fmancial statsments Page l4
THE IM)EPENDEI¥JT GROUP OF ANALYficAL PSYCHOLOGISTS DETAILED STATEMENT OF FINANCIAL AcrtvrrtES for the year ended 31 August 2024 2024 2023 Totd resources expended 85,822 81,506 Net expendlture before galns and losses (5,966) (4,030) Reallsed reeogntsed galns 4nd losses Reulised gains/(losses) on fixed asset investments 31J09 2,450 Net Ineomel{expendlture) 25,543 (1,580) This page does not fonn part of the statutory financia] statements Pa£e 15