Reglstered number.. 03333780 Charlty numbers.. 1061593 (England & Wales) & SC041945 (Scotland) THE INSTITUTE OF HISTORIC BUILDING CONSERVATION (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) CONTENTS Page Reference and administrative details of the charity. its Trustees and advisers Trustees. report Independent examinerfs report 9-10 statement of flnanclal actlvltles Balance sheet 12- 13 Notes to the financial statements 14-29
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Trustees Desmond Cairns (appointed 24 February 2022) David Chetwgn Alison Davidson (resigned, resigned 24 February 20221 Crispin Edwards John Edwards (resigned 14 December 20221 Joanna Evans Anna Grant (appointed 24 February 2022) Jillian Kery Lone Beatrix Le Vay Roy Lewis (resigned 24 February 20221 David McDonald Kenneth Moore Iresigned 24 February 20221 Sanne-marie Roberts (resigned 24 February 20221 Andrew Shepherd Sheila Stones Rosemary Thompson (resigned 24 February 2022) Peter Wood (appointed 14 December 20221 Company registered number 03333780 Charity registered numbers 1061593 (England & Wales) and SC041945 (Scollandl Registered office Jubilee House High Street Tisbury Willshire SP3 6HA Company secretary Lydia Porter Chief executive officer Sean O'Reilly Accountants Larking Gowen LLP Chartered Accountants King Street House 15 Upper King Street Norwich NR3 1RB Page 1
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Bankers Natwest Bank PIC 21 Gentleman's Walk Norwich NR2 1NA Solicitors Knights 1759 The Bramplon Newcastle-under-Lyme Slaffordshire ST5 OQW President Mike Brown Page 2
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 The Trustees present their annual report together with the financial statements of the charity for the 1 October 2021 10 30 September 2022. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 Istrategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The IHBC is a company and a charity registered in England, Wales and Scotland, and exists to promote. for the benefit of the public, the conservation of, and education and training in the conservation and preservation of buildings, structures. areas, gardens and landscapes which are of architectural or historical value. The IHBC'S key activities are.. setting standards for conservation practice and improving education and tInIng in conservation raising the profile of conservation and promoting ils role in economic and social regeneration supporting excellence in all aspects of conservation, whether in the identification, analysis, repair and reuse of historic buildings or in new design in historic settings stimulating debate on how the role of conservation should develop organising training events and further developing the branch network to encourage the continued exchange of information between praclilioners locally as well as nationally. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. Achievements and performance a. Main achievements of the charity In the year to September 2022 the IHBC has continued its high level of activity, impact and influence across the wide range of inteSIS that shape our built and historic environment, its care and ils conservation. The ongoing impacts of the COVID-19 pandemic fluclualed rapidly over the year, complicating all activities, plans and services, and inevitably generating major concerns for the IHBC and its Trustees. However from the start of the calendar year, the country opened out with more confidence and we were able to make substantial progress in adapting to the post-crisis environment. More particularly we delivered successfully on both short-term priorities such as the highly successful Aberdeen School, as well as more ambitious long-lerm corporate plan objectives. Most notable there was the ongoing modernisation of governance allied to the exploration of a petition to become a chartered professional body. Page 3
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Achievements and performance {continued) ANNUAL SCHOOL The Aberdeen Sch(x)I proved to be the most challenging IHBC CPD event in our history. Its training offering accommodated essential experimentation wlhin rapidly changing social, educational and political landscapes, while also managing strict controls on costs. Piloting our future arrangements to simultaneously serve combined in-person and on-line participants and programmes within large-scale public events our new School model - ils strategic success was confirmed by positive feedback. Internally its achievements will be felt most strongly in future events as the lessons learned filter out. ANNIVERSARY The year also saw the launch of our IHBC25 programme, marking the 25th anniversary of the Inslilute's founding in 1997. Given the operational problems arising from the pandemic's legacy, we agreed lo run that programme from April 2022 to March 2023 our subscription year lo make sure we had enough lime lo underpin support for branches coming out of Covid. To maintain the IHBC'S default bottom-up approach, we allocated part of our post-pandemic surplus for Branches to bid and propose initiatives linked lo the anniversary, all supported by a simple and functional web resource. BRANCH AND TRAINING SUPPORT Mindful of the focus on Branches wlh pressures from pandemic-recovery and opportunities in our anniversary programme - the Board also extended capacity lo directly support Branches and our members. As well as an extensive review and update of Branch guidance informed by a 'Branch Re-connection Day hosted in October 2021 Jude Wheeler was appointed as part-time consultant to support and liaise wlh Branches. Later, when end-of-year free funds were confirmed, the Board also agreed to extend career support for members wlh a consultant focussed on training and applications. Angharad (Annal Hart was the successful candidate and look up her post in the following financial year. The combined impact of these appointments on member support has been most clear in the year from October 2022. A key role for our new Imining lead was lo extend our support for the complex issues arising from the challenging and, for our future credibility, essential decision lo address long-standing ambiguities in our membership structures linked lo the lack of any assessment for our original entry level 'Affiliale' membership category. Indeed those ambiguities were only highlighted by the extent lo which so many Affiliates had presumed there was some professional credibility in that category, when in practice it was no more substantial than membership of a local heritage body. The value of the decision has been confirmed in the decision by long-standing and highly-skilled Affiliates to seek IHBC accreditation, either as Associate or Full Member, or simply maintain IHBC recognition as Affiliate through a formal application. ALL PARTY PARLIAMENTARY GROUP While addressing the nuts and bolts of such legacy issues fom)ed one important thread in enhancing our corporate and charitable credibility, another was extending further our UK-wide conservation advocacy, most notably in the political field. Here we helped lead the first inquiry by the UK-wde, IHBC-supported and Westminster-based All Party Parliamentary Group IAPPGI on 'Conservation, Places and People,. The Inquiry explored 'the value of the historic environment and how it can help lo promote growth and regeneration,, and was launched in November 2020 under the Group's first Chair Layla Moran MP. Co-ordinated by a secretariat supported by the IHBC through our independent consultant David Blackman, the oral sessions delayed by the pandemic were led by the neY elected APPG Chair James Grundy MP from October 2021. The more recent launch of the report extended into the followng financial year, bul linked to our 25th anniversary programme and our CREATIVE Conservation Fund. It was the first IHBC-led event in Westminsler. Page 4
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Achievements and performance {continued) SUMMARY Regular activities and member support are already well recorded and reported in our ordinary communications and news to members, such as through our IHBC NewsBlogs and web services, our digital newslellers, our journal Context, our Yearbook and our 'Conservalion Wiki, service. Events loo play a critical role there, locally of course, bul also as we refine our capacity to blend events across live, recorded, in-person and digital engagement processes through our general meetings, evolving Council arrangements and, increasingly, enhanced Branch communications. Highlights among our recent achievements which included.. Continued implementing of our AGM-approved IHBC Corporate Plan 2020-25, or 'CP25', programme, from supporting the newly-elecled Board to ensuring that our work and structures evolve to reflect its aspirations, appropriately and proportionately. As well as core regulatory activities such as our Annual General meeting and Board meetings. this included such diverse developments as new reporting arrangements for the Board to encouraging default 'hybrid' meetings across our activities lo enhance member support, communication and engagement, such as that offered al the Aberdeen School's Heritage MarketPlace Stalls Planned and launched a strategy to mark and celebrate our 25th anniversary, to include a web hub, dedicated funding and support, a themed issue of Context alongside other feature publications, branding and development programmes such as an upgraded archiving strategy Especially in the first part of the financial year, continuing recent measures lo minimise and miligale the ongoing impacts of the pandemic, from cost control to precautionary and emergency risk management strategies Advanced the delivery of the pandemic-recovery stffttegy supporting for our volunteers and Branches, integtIng il with the 25th anniversary programme, IHBC25 Established under the 2020 Articles of Association our Governance Stage 2 Working group IGS2WGI to help develop and advance a formal plan lo explore the potential and impacts of submitting a petition for a charter Agreed a new internal pr(yJramme of linked risk and reserve planning and management to review all our activities under the new working environments framed by the pandemic and our new Articles Delivered the first Annual School lo address the CPD needs of both in-person and online delegates, planned to extend over four days and including the second stage development of the leaming-led and virtual IHBC MarkelPlace Piloted a new programme of guidance and support for applications to the upgraded Affiliate membership category Securing the first gift aid tax reclaim for the restricted charity fund, our IHBC CREATIVE Conservation Fund, while promoting its profile through, among other aclivilies, promoting donations at free events, arranging allocations lo linked charitable activities and advocacy including supporting and celebrating learning through the cross-cutting Student Award programme, the Marsh Awards and the joint IHBC -SAHGB Research Awards, as well as promoting conservation practice, standards and knowledge transfer by supporting Annual Sch(K)l attendan Progressed arrangements for our new Council. adapting models developed under the institute's original constitution while also reconfiguring lo virtual platfom)s Page 5
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Achievements and performance {continued) Delivered the IHBC@COP26 'Helpdesk+' and linked arrangements to add an innovative heritage presence at the global COP26, extending accessibility to the IHBC'S advocacy also with an extremely popular suite of podcast interviews alongside more publicly-focussed developments of existing policy and practice resources. Supported new bottom-up member-led initiatives in the form of Working Groups, including on 'Equality, Diversity and Inclusion,, on Inlernationalloverseas membership and services. and the Ukraine, all now including also offers of default access to School MarketPlace stalls Continued to support all the diverse opemtions and oversight offered through our new Board and Council, the four national Committees and related tiers of governance. from Panels lo Working Groups the specific achievements of which mnge from helping secure formal construction sector recognition of IHBC accreditation through the CSCS Card process to strategic support for a new cross-sector standard on the management of moisture in buildings, And, across all the above. continued, enhanced and extended numerous regular operations including regularly producing the NewsBlogs- Context,. Yearbook,. Jobs elc services., web services,. HESPR 'News and Tender Alerts,; learning support including the CPD Circular and Events calendar,. Membership assessment and Disciplinary oversight,. Policy and other learning support including the online Toolbox,. various education and application support events from MATE sessions to training-focussed Council Meetings as well as the extensive and diverse range of events networks and activities offered through our voluntary Branch infrastructure and networks. As a small charity the IHBC depends on the support, goodwill and dedication of its active volunteers. both in local Branches and across all our tiers of governance. Whether offered through our Branches, Working Groups, National offi or Committees, at the Board, Counal or across networks, the added capacity offered by volunteers at all levels of engagement lets the IHBC continue as a c()st effective voice for our charitable objects and professional standards, offering essential benefits lo the sector while also mainIng accessible and affordable to our most financially challenged members. In light of all that, the IHBC'S board of trustees is delighted lo offer its special and sincere gratitude to the many volunteers, supporters, consultants and staff who have all contributed to the vast work programme over the year. Financial review a. Financial review The gross incoming resources arising in the year amounted to £400,15712021= £374,748). Overall, the charity's income exceeded its expenditure by £89,13612021.. £85,039). At the period end the charity had free reserves of £317,369 {2021.. £237.1611. Total reserves al the year end were £346,216 {2021.. £257,080) of which £8,759 were strIcted(2021.. £8,482) and £337,457 unrestricted12021.. £248,598). Free reserves constitute unrestricted funds not represented by fixed assets. The charity s reserves are sufficient lo maintain levels well within our reserves policy of six months of expenditure- adjusted lo three months during the pandemic to addsS potential impacts on cashflow - after taking into account subscriptions received in advance and funds held within the subsidiary. Page 6
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Recognising the increased reserves and the uncertainties in the wider economy, the trustees continue to direct reserves lo aid investment in growth, services and member benefits, concentrating on consolidating recent initiatives, still with a view lo underpinning and securing growth in the IHBC. b. Principal risks and uncertainties The most recent risk assessment and review. carried out over the end of the previous financial year, assessed risks including those linked to the pandemic, but did not identify any other material changes in the range of challenges faced by the charity. Since then we have initiated plans for an holistic review of risk, linked to an updated assessment of reserves and fund stewardship, to help maximise returns and minimise the impacts of inflation, all tied lo the management and distribution of funds available following the pandemic. c. Plans for the future Plans for the IHBC to the end of the 2022 financial year are encapsulated in our Corporate Plan 2020-25, 'CP25', approved at the IHBC'S 2020 Annual General Meeting. For the year lo come plans will focus on its delivery. Such plans include.. Implementing the ongoing modernisation of our govemance under our newly adopted Articles of Association and current Corporate Plan, including supporting the Board and our new and constitutional Council as well as exploring options, costs and benefits around any petition for a charter Building on core income streams, including membership fees, training events and, through our trading ami. advertisements for jobs tied lo our'Jobs etc., service Extending support for our membership as well as the wder sector Raising the profile of the Institute, including in research, business. advocacy and training Developing the infrastructure and profile of our trade operations wlh IHBC Enterprises. Structure, governance and management a. Constitution The Institute of Historic Building Conservation, first constituted under Articles of Association as a registered charity on 14 March 1997, adopted new Articles of Association at ils AGM on 3 December 2020. These were updated at a General meeting on 26 March 2021. b. Methods of appointment or election of Trustees The management of the charity is the respon&bility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Page 7
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Structure, governance and management {continued) c. Organisational structure and decisionrymaking policies The IHBC is governed by an elected board of trustees and directors with up to 12 voting members consisting of up to four elected officers (chair, vice-chair, IHBC secretary and treasurer) and up lo 8 trustees including 3 nominated by national branches.. Northern Ireland, Scotland and Wales. The board is advised by a constitutional Council, which comprises the IHBC'S broadest membership, and elects ils own chair, the IHBC'S president. Council includes representation from across all Branches, the Board and the four national committees - Finance & Resources, Membership & Ethics, Education Training & Standards, Policy, and Communications & Outreach - as well as other advisory and constitutional Special Interest Groups operating variously as Working Groups. panels elc. Council and committees are SUPFX)rted by a small national office executive team to manage operations. alongside other operational support. The trustees confirm that, in exercising their powers and duties, they have complied with their duly to have due regard lo the guidance on public benefit published by the Charity Commission. Statement of Tmstees. responsibilities The Trustees (who are also the directors of the charity for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclice)- Company law requires the Trustees lo prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charity and of ils incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo= select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting eslimales that are reasonable and prudent,. stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclo*d and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose wlh aSOnable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply wlh the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the i)oard of Trustees and signed on their behalf by.. Davld McDonald {Chair of Trustees} Dale.. 25 April 20 Lone Beatrlx Le Vay (Vice Chairl Page 8
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 Independent examinerfs report to the Trustees of The Institute of Historic Building Conseryation I'the charity.) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 September 2022. Responsibilities and basis of report As the Trustees of the charity {and its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Charities and Trustee Investment {Scollandl Act 20051.the 2005 Acl'l, the Charities Accounts IS¢otlandl Regulations 2006 las amendedl I'the 2006 Accounts Regulations'l and the Companies Act 2006 {'Ihe 2006 Acl'l. You are satisfied that the acwunls of the charity are not required by charity or company law lo be audited and have chosen instead lo have an independent examination. Having satisfied myself that the accounts of the charity 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 the charity's accounts carried out under section 4411 }Icl of the 2005 Act and section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the requirements of Regulation 11 of the 2006 Accounts Regulations and the Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independent examinerfs statement Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11121 of the 2006 Accounts Regulations. I can confirm that l am qualified lo undertake the examination because l am a registered member of the Institute of Chartered Acwuntants in England and Wales, which is one of the listed bodies. I have completed my examination. l confirm that no matters have come lo my attention in connection wlh the examination giving me cause lo believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act and Regulation 4 of the 2006 Accounts Regulations., or the accounts do not accord wlh those records and with the accounting requirements of Regulation 8 of the 2006 Accounts Regulations., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland {FRS 102}- I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts lo be reached. Page 9
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 This report is made solely to the charity's Trustees, as a body, in accordance wth Part 4 of the Charities (Accounts and Reports} Regulations 2008 and Regulation 11 of the Charities Acwunls IS¢ollandl Regulations 2006. My work has been undertaken so that I might slate lo the charity's Trustees those mallers l am required lo slate to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 26 April 2023 Christopher Yeates FCA DChA Larking Gowen LLP Chartered Accounlanls Notwch Page 10
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Donations Charitable activities Other trading activities Investments 262 320,906 5.964 71.025 2,000 2.262 320,906 5.964 71.025 4, 189 322, 755 7,090 41,314 Total income 398,157 2,000 400,157 374, 748 Expenditure on: Raising funds Charitable activities 6.352 302.946 6.352 304.669 4,991 284, 748 1.723 Total expendituro 309.298 1.723 311.021 289, 739 Net movement In funds 88.859 277 89.136 85,009 Reconciliation of funds.. Total funds brought forward Nel movement in funds 248,598 88.859 8,482 277 257.080 89.136 172,071 85,009 Total funds carrled fonvard 337.457 8.759 346.216 257,080 The Statement of financial activities includes all gains and losses recognised in the year. All income and expenditure in the prior year was unrestricted. The notes on pages 14 10 29 fom) part of these financial statements. Page 11
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) BALANCE SHEET FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2021 Note Fixed assets Tangible assets Investments 12 13 3.988 10,000 f,437 10,000 13.988 11,437 Current assets Debtors Cash at bank and in hand 14 441 517,588 1,209 442,677 518,029 443,886 Creditors.. amounts falling due within one year 16 1185,8011 (f 98,243) Net current assets 332.228 245,643 Total assets less current liabilities 346.216 257,080 Total net assets 346.216 257,080 Charity funds Restricted funds Unrestricted funds 17 17 8.759 337.457 8,482 248,598 Total funds 346,216 257,080 The charity was entitled to exemption from audit under sertion 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordan wth sertion 476 of Companies Act 2006. The Trustees aekn0Aedge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. Page 12
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) BALANCE SHEET ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 The financial statements have been prepared in accordance wth the provisions applicable to entities subject to the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. David McDonald {Chair of Trustees) Dale.. 25 April 2023 The notes on pages 14 to 29 fomi part of these financial statements. Lone Beatrix Le Vay (Vice Chairl Page 13
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 General information The company is a private company limited by guarantee and incorporated in England and Wales, registration number 03333780. The registered office is Jubilee House, High Street, Tisbury, Willshire SP3 6HA. The members of the company are the Trustees named on page 1. In the event of the ompany being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The Institute of Historic Building Conservation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Going concem The trustees have considered the charity's position al the time of signing the financial statement and financial forecasts. Based on this, the Iruslees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements. 2.3 Income Al income is recognised once the charity has entillemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income from subscriptions is recognised over the period to which it relates. Page 14
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accounting policies Icontinuedl 2.4 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit lo a third party, 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 accounted for on an accruals basis and has been induded under expense categories that aggregate all costs for allocation lo aclivilies. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis wnsistenl wlh the use of reSoUrs. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on the Charity's educational activities as well as any associated support costs and costs relating to the governance of the charity.. All expenditure is inclusive of irrecoverable VAT. 2.5 Branch accounting All income, expenditure, assets and liabilities relating lo branches are incorporated into these financial statements. 2.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is nomially upon nolificalion of the interest paid or payable by the institution with whom the funds are deposited. 2.7 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the straighl-line method. Depreciation is provided on the following basis.. Office equipment 25% Page 15
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accounting policies Icontinuedl 2.8 Investments Investments in subsidiaries are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at cost less impairment. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade diswunts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.11 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllement Can be estimated reliably. Liabilities are recognised at the amount that the charity anlicipales it will pay to settle the debt or the amount il has received as advanced payments for the gcrt)ds or services it must provide. Provisions are measured at the best estimate of the amounts required to sellle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finan cost. 2.12 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value wlh the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.13 Pensions The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity lo the fund in respect of the year. Page 16
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accounting policies Icontinuedl 2.14 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtheran of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. Restricted funds are funds which are lo be used in accordance rith specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Donations 262 2,000 2,262 4, 189 Total 2021 673 3,516 4,189 Page 17
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Income from charitable activities Unrestricted funds 2022 Total funds 2022 Total funds 2021 Training and educational activities Newsletter and other publications Research project management Other income Subscriptions 5.930 2.577 9.234 5,930 2,577 9,234 3,590 2,239 8,884 1,734 305, 708 303.165 303,165 320.906 320,906 322, 755 Total 2021 322, 155 322, 155 Page 18
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Income from other trading activities Unrestricted funds 2022 Total funds 2022 Total funds 2021 Context advertising 5.964 5,964 7,090 Total 2021 7,090 7,090 Investment Income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Payments under Gift Aid from subsidiary company Bank interest 70.748 277 70,748 277 4f,282 32 71.025 71,025 41,314 Total 2021 41,314 47,314 Page 19
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Expenditure on raising funds Costs of raising voluntsry income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Publicity 6.352 6,352 4,991 Total 2021 4,997 4,991 Analysis of expenditure by activities Adivities undertaken directly 2022 Support costs Totsl funds 2022 Total funds 2021 2022 Support costs Newsletters and other publications Research project management Creative fund awards and prizes Schools, conferences and events Website costs 207,787 207,787 50,196 9,130 3,373 8,954 23,984 1,245 186,209 47,453 12,854 1,650 9, 745 25,014 f,823 50,196 9,130 3,373 8,954 23,984 1,245 Subscriptions and professional bodies 96,882 207,787 304,669 284, 748 Tot812021 98,539 186,209 284, 748 Page 20
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Analysis of expenditure by activities {continued) Analysis of support costs Support costs 2022 Total funds 2022 Total funds 2021 staff costs Depreciation - owned assets Subcontractors 133.881 2.117 19.670 14,109 1,538 4.818 8.174 1,368 4.884 17.228 133,881 2,117 19,670 14,109 1,538 4,818 8,174 1,368 4,884 17,228 119,764 950 26,220 10,539 136 224 603 offi expenses Travel expenses Committee expenses Branch expenses and support Fees for professional services Accountancy Other costs 2,059 4,884 20,830 207,787 207,787 186,209 Total 2021 186,209 186,209 Independent examinerfs remuneration The independent examinerfs remuneration amounts lo an independent examiner fee of £4,210 {2021 £4,090). Page 21
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 10. Stsff costs A part time member of staff is provided by Cathedral Communications Ltd in conjunction wlh managing the publishing and distribution of the charity's regular publication 'Conlexl" together wlh the associated advertising revenue. The cost of provision of the member of staff was £28,229 for the year ended 30 September 202212021.. £24,835). This cost is included within the aggregate payroll costs below.. 2022 2021 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 120,707 7,318 5,856 108,566 5,342 5,856 133,881 119,764 The average number of persons employed by the charity during the year was as follows.. 2022 No. 2021 No. Employees No employee received remuneration amounting lo more than £60,000 in either year. Total employee benefits of key management personnel were £67,33612021.. £54,088). 11. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2021- £NIL). During the year ended 30 September 2022, expenses totaling £599 were reimbursed or paid directly lo 4 Trustees (2021- £NILI. The expenses reimbursed or paid directly lo Trustees were for travel costs. Page 22
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 12. Tangible fixed assets Office equipment Cost or valuation At 1 October 2021 Additions 4.906 4,668 {1,852) Disposals At 30 September 2022 7.722 Depreciation At 1 October 2021 Charge for the year On disposals 3.469 1,654 {1,389) At 30 September 2022 3.734 Net book value At 30 September 2022 3.988 At 30 September 2021 1,437 Page 23
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 13. Fixed asset investments Investments in subsidiary companies Cost or valuation At 1 October 2021 10.000 At 30 September 2022 10,000 Net book value At 30 September 2022 10,000 At 30 September 2021 70,000 Prlnclpal subsldlarles The followng was a subsidiary undertaking of the charity= Name Company number Reglstered offlce or prlnclpal Class of place of business shares Holdlng IHBC Enterprises Limited 06473470 Jubilee House High Street Tisbury Willshire SP3 6HA Ordinary The financial results of the subsidiary for the year were- Name Income Expendlture Proflt for the year Net assets IHBC Enterprises Limited 133.775 59.012 74.763 86.447 Page 24
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 14. Debtors 2022 2021 Amounts owed by group undertakings Prepayments and accrued income 441 536 673 441 f,209 15. Cash at bank Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Total funds 2021 Bank deposit accounts Bank current accounts 447,909 7,206 62,473 1.553 7.206 449,462 14,412 62,473 381,333 7,264 54,080 Branch accounts 517,588 8.759 526,347 442,677 Total 2021 434, 195 8,482 442,677 Page 25
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 16. Creditors: Amounts falling due within one year 2022 2021 Trade creditors 31,147 154,654 38, 739 159,504 Accruals and deferred income 185,801 198,243 2022 2021 Deferred income Deferred income at 1 October 2021 Resources deferred during the year Amounts released from previous periods 155,319 150,444 1155,3191 151,634 155,319 (151,634) 150,444 155,319 Deferred income represents subscriptions received in respect of future periods. Page 26
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 17. ststement of funds ststement of funds - current year Balance at 30 Transfers September inlout 2022 Balance at 1 October 2021 Income Expenditure Unrestricted funds Designated funds Creative Fund {1,650) 7,750 6.100 General funds General Funds 248.598 398,157 {307.6481 17,7501 331.357 Total Unrestricted funds 248,598 398,157 {309,298) 337,457 Restricted funds Creative Fund 8.482 2,000 {1.7231 8.759 Total of funds 257.080 400,157 (311.0211 346.216 The Creative Fund was established lo fund student work. research and awards for excellen. Page 27
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 17. ststement of funds Icontinuedl ststement of funds - prior year 8alance al 30 September 2021 Balance at 1 October 2020 Income Expenditure Unrestricted funds General Funds 765,455 371,232 (288,089) 248,598 Restrided funds Creative Fund 6,616 3,516 (1,650) 8,482 Total of funds 7 72,071 374, 748 (289, 739) 257,080 18. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestrlcted Restrlcted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments 3.988 10,000 509,270 {185,8011 3.988 10,000 518.029 {185.8011 Current assets Creditors due within one year 8,759 Total 337,457 8,759 346.216 Page 28
THE INSTITUTE OF HISTORIC BUILDING CONSERVATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 18. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year Unrestricted funds 2021 Restricted funds 2027 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 1,437 10,000 435,404 (198,243) 1,437 10,000 443,886 (198,243) 8,482 Total 248,598 8,482 257,080 19. Penslon commltments The company operates 8 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 lo £5,856 12021.. £5,856}. Contributions lotalling £877 12021.. £8771 were payable to the fund at the balance sheet dale and are included in creditors. 20. Related party transactlons In the year to 30 September 2022, sales of £9,234 12021.. £8,884) were made to IHBC Enterprises Limited. Purchases from IHBC Enterprises Limited in the year lotalled £91 12021.. £6001. The amount due from IHBC Enterprises Ltd at 30 September 2022 was £441 {2021'. £536 due lo IHBC Enterprises Ltd). During the year, the subsidiary company made a payment under Gift Aid to the charity of £70.748 {2021'. £41,282). 21. Controlllng party The company is controlled by the Council Members who are listed on page 1. Page 29