2021-12-31-accounts - Institute Of Money Advisers

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Trustees		J Clack
		S Mercer
		R Rosenberg		- co-opted
		J Fielding
		SWilliams
		LGoldberg	- co-opted			(Appointed	22 February 2021)
		AWalters -	co-opted			(Appointed	22 February 2021)
		A Shafiq				(Appointed	27 September 2021)
Secretary		SWilliams
Charity number		1112758
Company	number	05386480
Principal address		The Charity	operates			virtually
		Correspondence			to:
		PO Box526
		Leeds
		LS17 1NS
Registered	office	Carlton House
		Grammar School			Street
		Bradford
		BD1 4NS
Auditor		Alison Wnalley		FCA
		Naylor Wintersgill			Limited
		Carlton House
		Bradford
		BD1 4NS
Bankers		Co-operative		Bank pic
		PO Box250
		Delf House
		Southway
		Skelmersdale
		WN8 6WT
		Unity Trust	Bank
		Nine Brindleyplace
		Birmingham
		B12HB

		Page
Trustees report		1-6
Statement ofTrustees	responsibilities
Independent auditor's	report	10-12
Statement offinancial	activities	13
Balance sheet		14
Statement ofcash flows		15
Notes to the financial	statements	16-29

			Unrestricted	Restricted		Unrestricted	Restricted
			funds	funds	Total	funds	funds	Total
			2021	2021	2021	2020	2020	2020
		Notes	f	f		F	6	E
ittgmtgfLffpdtt;
Donations and
legacies			12,530	411,509	424,039	22,675	99,293	121,968
Income from
charitable activities			549,676	13,208	562,884	415,361	9,500	424,861
Investments			4,606		4,606	4,365		4,365
Total income			566,812	424,717	991,529	442,401	108,793	551,194
Ezuaitditgf on:
Expenditure on
charitable activities		6	400,874	275,000	675,874	402,042	108,793	510,835
Net income for	the year/
Net movement	in funds		165,938	149,717	315,655	40,359		40,359
Fund balances at
1 January 2021			686,976		686,976	646,617		646,617
Fund balances	at
31 December
2021			852,914	149,717	1,002,631	686,976		686,976

					2021		2020
				Notes	5		6
Fixed assets
Tangible assets						22,858		3,913
Current assets
Debtors					88,877		111,662
Cash at bank and	in	hand			908,534		610,090
					997,411		721,752
Creditors: amounts		falling due within
one year				14	(17,638)		(38,689)
Net current assets						979,773		683,063
Total assets less	current		liabilities			1,002,631		686,976
Income funds
Restricted funds						149,717
Unrestricted funds
Designated funds					165,968		140,903
General unrestdicted		funds			686,946		546,073
						852,914		686,976
						1,002,631		686,976

				2021		2020
			Notes	6
Cash flows from operating		activities
Cash generated from operations			22		316,978		44,971
Investing	activities
Purchase	oftangible fixed assets			(25,140)		(659)
Investment	income received			4,606		4,365
Net cash	(used in)/generated from
investing	activities				(20,534)		3,706
Net cash	used in financing	activities
Net increase in cash and cash equivalents					298,444		48,677
Cash and	cash equivalents	at beginning	ofyear		610,090		561,413
Cash and	cash equivalents	at end of	year		908,534		610,090

Donatio	ns and leg	acies
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2021 f	2021 f.	2021f	2020f	2020	2020 f
Donations and gifts			12,530		12,530	22,675		22,675
Grant listed below				411,509	411,509		99,293	99,293
			12,530	411,509	424,039	22,675	99,293	121,968
Grants	receivable	for
core activities
Money	and Pensions
Service	(Networking	and
Information Sharing
Project)				15,617	15,617		56,050	56,050
Money Advice Trust
(Quality Improvement and CPD Projects)				47,942	47,942		41,243	41,243
Money	and Pensions
Service	(Debt Relief
Orders)				347,750	347,750
				411,509	411,509		99,293	99,293

		Money Advice	Annual	Total	Money Advice	Annual	Total
			Conference	2021		Conference	2020
		2021	2021		2020	2020
		6	f
Subscriptions-
members		169,879		169,879	164,988		164,988
Quarterly Account		6,327		6,327	6,226		6,226
Advertising		8,050		8,050	6,300		6,300
Training		89,295		89,295	63,602		63,602
MAT training	grants	157,480		157,480	108,760		86,210
CertMAP		69,200		69,200	59,425		59,425
CertMAP bursary
funding		13,208		13,208	9,500		9,500
Quality audit	service	1,975		1,975	2,560		2,560
Annual conference			25,470	25,470
Sponsorships-
Conference			22,000	22,000		3,500	3,500
		515,414	47,470	562,884	421,361	3,500	424,861
Analysis by	fund
Unrestricted	funds	502,206	47,470	549,676	411,861	3,500	415,361
Restricted funds		13,208		13,208	9,500		9,500
		515,414	47,470	562,884	421,361	3,500	424,861

Unrestricted	Unrestricted
funds	funds
2021	2020
	f
4,606	4,365

			Money	Annual	Total	Money	Annual	Total
			Advice Conference		2021	Advice	Conference	2020
			2021	2021		2020	2020
			f	f		f
Annual conference costs				3,799	3,799		710	710
Quarterly	Account Editorial
costs			16,409		16,409	14,900		14,900
CertMAP			66,315		66,315	58,178		58,178
Training course costs			47,565		47,565	51,782		51,782
Research		Project				21,135		21,135
			130,289	3,799	134,088	145,995	710	146,705
Grant funding ofactivities
(see note		7)	155,820		155,820
Share of	support costs
(see note		8)	342,585	36,902	379,487	352,899		352,899
Share of	governance		costs
(see note		8)	6,479		6,479	11,231		11,231
			635,173	40,701	675,874	510,125	710	510,835
Analysis		by fund
Unrestricted funds			360,173	40,701	400,874	401,332	710	402,042
Restricted		funds	275,000		275,000	108,793		108,793
			635,173	40,701	675,874	510,125	710	510,835
Grants payable
							Money	Money
							Advice	Advice
							2021f	2020 f
Grants to		institutions:
Maintaining		or increasing access to debt relief orders					155,820

Supportcosts	Support	Governance	2021	Support	Governance	2020
	costs	costs		costs	costs
	f				f.
Staif costs	293,511		293,511	287,709		287,709
Depreciation	6,195		6,195	3,533		3,533
Staff recruitment and training Premises costs	1,903 18,782		1,903 18,782	1,537 15,229		1,537 15,229
Office costs	23,705		23,705	25,440		25,440
CRM project costs Insurance	11,790 1,721		11,790 1,721	1,780		1,780
Travel and subsistence	2,803		2,803	5,300		5,300
Sundry	1,265		1,265	1,378		1,378
Legal and professional fees	15,766		15,766	6,990		6,990
Irrecoverable VAT	2,046		2,046	4,003		4,003
Audit fees		5,618	5,618		6,833	6,833
Board and council meeting costs		861	861		4,398	4,398
	379,487	6,479	385,966	352,899	11,231	364,130
Analysed between Charitable activities	379,487	6,479	385,966	352,899	11,231	364,130

Employees		(Continued)
Employment costs	2021	2020 f
Wages and salaries Social security costs	263,134 17,726	258,983 16,307
Other pension costs	12,651	12,419
	293,511	267,709

Tangible fixed assets
		Fixtures snd fittings
		f.
Cost
At 1 January 2021		29,735
Additions		25,140
Disposals		(20,742)
At 31 December 2021		34,133
Depreciation and impairment
At 1 January 2021 Depreciation charged	in the year	25,822 6,195
Eliminated in respect ofdisposals		(20,742)
At 31 December 2021		11,275
Carrying amount At 31 December 2021		22,858
At 31 December 2020		3,913

13	Debtors
	Amounts falling due within	one year:		2021 f	2020f
	Trade debtors			81,159	82,583
	Prepayments and accrued income			7,718	29,079
				88,877	111,662
14	Creditors: amounts falling	due within one year
				2021	2020
			Notes	f
	Other taxation and social security			5,863	5,348
	Deferred income		15	2,495	16,400
	Trade creditors			573	3,448
	Accruals			8,707	13,493
				17,638	38,689
15	Deferred income
				2021	2020
				f	f
	Other deferred income			2,495	16,400
				2021	2020f
	As at 1 January			16,400	19,155
	Amount released to incoming	resources		(16,400)	(19,155)
	Training fees			1,000	8,8OO
	Membership fees			775	2,100
	Accreditation fees			720
	Conference fees and sponsorship				5,500
	As at 31 December			2,495	16,400

			Movement	In funds		Movement	in funds
			Incoming resources	Resources expendedt	Balance at January 2021	Incoming resources	Resources expended	Balance at 31 December
								2021
CertMAP Bursaries			9,500	(9,500)		13208	(13208)
Quality Improvement		and
CPD Projects			41,243	(41,243)		47,942	(47,942)
Network and	Information
Sharing			58,050	(58,050)		15,817	(15,817)
MaPS Grant	for the
adminstration	of Debt
Relief Orders						347,750	(198,033)	149,717
			108,793	(108,793)		424,717	(275,000)	149,717

Tlm Income funds ofthe cheniy indude	Tlm Income funds ofthe cheniy indude	Tlm Income funds ofthe cheniy indude	Tlm Income funds ofthe cheniy indude	Tlm Income funds ofthe cheniy indude	Tlm Income funds ofthe cheniy indude	fogovdng designated	funds which	have	been sel	aside out ofunrestdcted	aside out ofunrestdcted	aside out ofunrestdcted	aside out ofunrestdcted		funds by the trustees	funds by the trustees	for speofic	purposes	purposes
							8 I	t	R drwe		7	f	8	I	t	R		8	I	~t
							IJ n	ry 2828	4 ps	d d		1	Jm		ry 2821	xp nddd		81D		m r
																				strst
																				6
Contingency							49,217					(4,275)		44,942			4,165		49,107
CertMAP Flnandal	Support							2,000	(1,220)			2,720			3,500	(1,082)	1,082			3,500
ITequipment replacement								603		(603)		3,000			3,000	(2,900)	2,900			3,000
Fixed 888et fund								6,787	(2,874)						3,913	(8,194)	25,140		22,859
Learning and development								2996		(450)					2,548	(300)				2,248
ResBerch							20,000		(19,400)			(800)
Relocsgon costs							15,000		(1,662)			(7,338)			8,000	(5,640)	(360)
Resswch (fogow up		to Wetlbwng		Report)													20,000		20,000
Research (Training)																	5,000			5,000
Recruitment of Pfl'	Pogcy Oflicer																21,500		21,500
Trustee Training end		Development															2,500			2,500
Subsidised member		training	places					6,700	(3,305)			605			4,000	(4,000)	4,000			4,000
Customer retationsNp		Management			System	Development	63,000							63,000		(40,746)			22,264
Drench support fund								6,000		(269)		(3,731)			2,000	(390)				2,000
MAD emergency support								2,000							2,000					2,000
Conference								4,000							4,000	(1,425)	1,425			4,000
Member webiners												2,000			2,000	(500)	500			2,000
							178,305		(29,783)			(7,619)	140,903			(83,177)	88,242	165,968

INSTITUTE OF MONEY ADVISERS	INSTITUTE OF MONEY ADVISERS
(A COMPANY LIMITED BYGUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31DECEMBER 2021
17	Designated funds								(C
	Confingency fund - to cover lease commitments, stsff terminefion payments		end other contingendes		that	would eries in the event ofwinding			up the charity.
	CertMAP finandel support is funding set aside to prowde flnandel support		for CertMAP.
	IT equipment reftacement -to meal the cost ofreplsong ITequipment	when It becomes obsolete or			beyond economic repair.
	Fixed asset fund - to reflect the charity's unrestricted funds invested In fixed assets.
	Learning and development -to provide executive coaching
	Research - Into the lmpad on advtsors ofthe economic dimate.
	Relocation costs - cost of idenfificetlon of prerwses and relocatton.
	Research (fdlow up for wsgbelng report) - to ccmmlsslon further research		building	on our wefibelng	and	workloads	research	in 2020.
	Research (training) - research into engagements vrtth IMA training
	Recrultmenl of P/T Pdicy officer - to employ 8 Itxed term poficy officer	for 12 months.
	Trustee Training and Development -to prowde trustee training and development,
	Subsmissd member training places - to provide subsldlsed places on IMA training			courses for members		nol funded	by MePS.
	Customer Relationship Management System Development- Development		ofe customer relationship		management		system.
	Branch support fund - to provide a smsfi grant to each branch.
	MAD emergency support - lo provide emergency support lo branches	for psrtbular		needs on epplicahon
	Conference - to provide subsldlsed places for members et the annual	conference.
	Member webiners -to fund the prowsion ofwettnars to members.

		Balance at 1	Balance at 1	Incoming	Resources	Transfers	Balance at 1	Incoming	Resources	Transfers	Transfers	Balance at 31	Balance at 31
			January	resources	expended	January 2020		resources	oxporrdod			December 2021
			2020
		E	E	E				E
Restricted	funds			108,793	(108,793)			424,717	(275,000)				149,717
Designated	funds		178,305		(29,783)	(7,619)	140,903		(63,177)		88,242		185,968
Unrestricted	funds		468,312	442,401	(372,259)	7,619	546,073	586,812	(337,897)		(88,242)		686,948
			646,617	551,194	(510,836)		686,976	991,529	(675,874)				1,002,631
Analysts ofnet assets			between funds
						Unrestricted	Designated	Restricted	Totslgnrestrlcted		Designated		Total
						Funds	funds	Furtda		Funds		funds
						2021	2021	2021	2021	2020		2020	2020
						E	E	E	E		E	E	E
Fund balances at 31		December 2021		are represented	by:
Tangible assets						763	22,095		22,858			3,913	3,913
Current assets/(tarn)tees)						686,947	143,109	149,717	979,773	546,073		136,990	683,083
						687,710	165,204	149,717	1,002,631	546,073		140,903	686,978

		2021	2020f
	Vyithin one year	1,122	5,632
21	Related party transactions

		2021	2020
		f	6
Aggregate	compensation	56,101	57,913

Cash generated from	Cash generated from	operations	operations				2021	2020
								f
Surplus for	the year						315,655	40,359
Adjustments	for:
investment	income recognised		in statement		offinancial	activities	(4,606)	(4,365)
Depreciation	and impairment		oftangible	fixed assets			6,195	3,533
Movements	in working	capital:
Decrease in	debtors						22,785	3,693
(Decrease)/increase in		creditors					(7,146)	4,506
(Decrease)	in deferred	income					(13,905)	(2,755)
Cash generated from		operations					316,976	44,971