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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 04884548 (England and Wales) REGISTERED CHARITY NUMBER: 1117942

Report of the Trustees and Financial Statements for the Year Ended 31 March 2021

for

The Institute of Licensing (Limited by Guarantee)

Richard Smedley Limited Chartered Accountants & Registered Auditors 2nd Floor, Woodside House 261 Low Lane Horsforth Leeds West Yorkshire LS18 5NY

The Institute of Licensing (Limited by Guarantee)

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Report of the Trustees 1 to 12
Independent Examiner's Report 13
Statement of Financial Activities 14
Balance Sheet 15 to 16
Notes to the Financial Statements 17 to 22
Detailed Statement of Financial Activities 23 to 24

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04884548 (England and Wales)

Registered Charity number 1117942

Registered office

Ridgeway Upper Milton Wells Somerset BA5 3AH

Trustees

M A Bebbington S P Fitzgerald P J Andrews D I Lucas J S Collins S Clover G S Grant J Cunningham T Shield M Phillips D Davies J Garforth S J McGowan G Hughes S C Bradley L J Cannon F Wenzel

Company Secretary

S Nelson

Page 1

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Richard Smedley FCA Richard Smedley Limited Chartered Accountants & Registered Auditors 2nd Floor, Woodside House 261 Low Lane Horsforth Leeds West Yorkshire LS18 5NY

OBJECTIVES AND ACTIVITIES

The Institute of Licensing (IoL) is the professional body for licensing practitioners across the United Kingdom. It is a broad-church organisation embracing membership from licensing practitioners in all disciplines.

The objectives of the Charity are for the benefit of the public and are principally concerned with education in the field of licensing and regulatory activity, and the application / development of licensing laws to promote the prevention of crime, disorder and nuisance together with the promotion of health & safety, protection of vulnerable people / children and promotion of wider objectives.

In shaping our objectives and planning activities, the Trustees have had regard to the Charity Commission’s guidance on public benefit and fee charging. The majority of regional meetings are provided free of charge to IoL members, and fees charged in relation to national training events are set with a view to making courses accessible to members. In comparison with many commercially run training events, the IoL training fees are significantly more affordable due to the training fees set. Additional free webinar events were held in 2021 as a result of the COVID-19 pandemic with a view to supporting licensing practitioners in preparing for regulatory changes.

In pursuing its objectives, the Institute is fully committed to considering not only the licensing regime but also the wider picture in relation to the effective and proactive management of the night-time and day time economies, including effective partnership working with all stakeholders and use of the wide variety of tools available to the various partners involved.

ACHIEVEMENTS AND PERFORMANCE

COVID-19

The COVID-19 pandemic affected all areas of activity throughout 2020 and 2021. Following the initial lockdown in March 2020, the IoL recognised the need for immediate and timely information, updates and advice for members throughout the COVID-19 lockdown. As a result, 610 articles including news updates and authored articles were published on the IoL website between March 2020 and April 2021 with over 180 licensing flashes (eNewsletters) sent in the same period to more than 5000 subscribers.

The IoL published its ‘Protocol for Licence Applications & Hearings under the Licensing Act 2003 during the Covid-19 Pandemic’ on 1 April, and this was subsequently updated several times to add additional information including an Annex on the ‘Mechanics and Procedures at Remote Hearings’ which was added to update 3, published on 20 April 2020.

Page 2

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

The updates and the Protocol were critical to IoL members, including local authorities faced with office closures, and in many cases, having to conduct a licensing function remotely where previously reliant on face-to-face communication with applicants, paper application processes (or part paper and part electronic) and physical hearings to determine applications where needed. Councils had to swiftly move to online applications and remote communications, including crucially licensing hearings.

From the outset there was significant concern that some local authorities would seek to ‘close the licensing system’ which would be severely detrimental to licensed businesses and individuals, and an abrogation of statutory duties. This did not happen, although some licensing authorities initially chose not to accept new licensing applications (in most cases for hackney carriage and private hire licensing) during the lockdown period. The IoL continues to encourage all licensing authorities to ensure that contingency plans are in place to set out alternative means of delivering the licensing function where government restrictions (or other matters) disrupt normal business processes.

The regular updates, authored articles and the protocol were possible as a result of the generosity of Trustees and other key licensing experts within the IoL membership. There has been significant anecdotal feedback from IoL members about the value of the IoL updates and articles during the pandemic, and the provision of these updates has served to prove and promote the value of IoL membership. The Board of Trustees and the IoL team are extremely grateful to everyone who has contributed to the updates, articles and the IoL protocol.

In addition to the updates, articles and the protocol, the IoL has joined its voice to those from other national organisations and Government Ministers, encouraging partnership, collaboration and understanding between all parties as the country starts to emerge from many months of varying business restrictions which have had devastating impacts in some sectors, particularly hospitality and licensed transport.

NeXstart

The IoL continued its involvement in NeXstart, a coalition of experts working together on a comprehensive national strategy for our industries safely and successfully to exit lockdown and restart their businesses. NeXstart have published many advice notes and FAQs to assist all parties with the rapid regulatory changes and policies concerning COVID-19 since the start of the pandemic.

Training and events

The impending crisis had been apparent at that stage since the end of February 2020 and all IoL training and events were immediately placed under review and carefully considered with clear communications to delegates about appropriate precautions and measures put in place. The final face to face course to go ahead as planned was the Professional Licensing Practitioners course which ran in Nottingham from 17 – 20 March 2020 (starting the day after Government advice to avoid unnecessary travel). Delegates attending the course were given the opportunity to swap to a later course, but the majority chose to attend and the course ran smoothly.

All subsequent courses and events were immediately put on hold and in total 16 planned training events were cancelled. Arrangements were quickly made to enable online delivery of training using Skype, Microsoft Teams and Zoom, and as a result, the first online delivery of an IoL training course took place on 2 April, just one week after the start of the lockdown.

Page 3

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

2020/21 activity overview

Training activity overall during 2020/21 suffered significant disruption due to the pandemic. System data shows 27 events were cancelled overall and 17 were rearranged to be held online:

However, as illustrated below, overall performance was similar to the previous year, a tribute to the considerable efforts of the IoL team and trainers who enabled events to be held online.

Figure 1: Events Historic Comparison (financial years 1st April - 31st March)

Bespoke courses are shown separately for the last 2 years where previously they were included with national events. Regional activity reasonably consistent with previous years, and our sincere thanks to our volunteer regional officers who enabled regional meetings to be held online at a time when the pandemic was causing a huge amount of disruption and additional work in all areas.

The pandemic accelerated the move to online activities in practically all areas of life. For the IoL, the major impact was on training delivery, and all training courses and events were reviewed taking into account the viability and practicality of delivering courses online. In most cases, training was delivered online and very successfully. In fact, in some cases it was clear that online delivery was more successful than face to face.

Other courses were less straightforward. For example, the PLPQ course which was previously 4 consecutive days of training, based in hotel venues, and with daily exams at the conclusion of each day. The first of the online PLPQ courses was delivered in September, with the exam taken online (with invigilation measures in place). The training days were spread over a 2-week period rather than running on consecutive days.

Page 4

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

There remain some courses which trainers and IoL have agreed will not work online. Examples include the Zoo Licensing course, which is delivered on location at a working Zoo, along with the ‘Working in Safety Advisory Groups’ and ‘Public Safety at Events’ courses which are heavily workshop based. These courses are now under review given the Government’s decision that all restrictions be removed from July.

The Summer Training Conference, which is a one-day event was delivered as an online webinar and worked particularly well in 2020 with higher attendance numbers than for previous years on location. In 2021, the event saw fewer bookings. This may be a result of the amount of online training on offer and was also likely impacted by the free ‘Reopening and Recovery’ webinars which the IoL organised in collaboration with Best Bar None and other organisations (detailed below).

The IoL’s signature National Training Conference (normally a 3-day residential training conference) was replaced with a 5-day webinar in 2020 due to the pandemic. The nature of the programme and use of syndicate sessions at the residential event enables delivery of over 70 sessions in normal circumstances. The 5-day webinar included 25 sessions and was attended by just over 200 delegates. A fantastic result, although this event in particular is more suited to the face-to-face format.

2021/22 training activity continues to be impacted by the COVID-19 pandemic for regional, bespoke and national training courses and events. A cautious return to face-to-face training is likely subject to the national picture on infection rates and likely customer confidence in attending training in person.

Webinars

In March 2021, the IoL delivered the first of the ‘Reopening and Recovery’ webinars. This was the start of a very collaborative series of events working in partnership with Best Bar None, ATCM, UKH, BBPA, National Pubwatch and many other excellent organisations and speakers bringing their insights and experiences to the table on an array of topics. Overall, the aim of the series was to assist industry and regulatory practitioners to prepare for reopening, and also to discuss the regulatory position on various matters.

The sessions proved very successful with over 2500 viewers overall. It is likely that similar sessions will be considered in future.

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The Institute of Licensing (Limited by Guarantee)

Report of the Trustees

for the Year Ended 31 March 2021

E-Learning

A 6th eLearning module relating to ’Pubs and the Gambling Act 2005’ was launched in 2020, by the IoL and Gambling Commission in partnership.

National Licensing Week

National Licensing Week (NLW) in June 2020 and again in June 2021 were inevitably impacted by COVID-19. Most licensing practitioners whether industry or regulatory have been necessarily focused on the pandemic, the impact of lockdown and planning / exit strategies.

Training Development

The IoL relaunched its Councillor Training programme in August 2020, with 6 courses held between August 2020 and March 2021. In addition, there were 4 bespoke Councillor Training courses held on request from customers in the same period. The Councillor Training courses continue to run regularly in 2021, and have seen excellent attendance levels, particularly following the local council elections in May 2021.

The IoL Responsible Authority Training was launched in September 2020, and 6 courses have been run to date. Feedback has been excellent, and the courses will form a regular part of the IoL training programme going forward.

The IoL launched its BTEC Level 3 Certificate for Animal Inspectors (SRF) in April 2021, enrolling the first 5 cohort groups. The course is accredited by Pearsons and meets the requirements for the updated animal welfare legislation published in 2018. The IoL course is the culmination of many months of work and the first course for the IoL working with an Awarding Body. This will provide the blueprint for future qualification development work which will be a priority area for 2021/22.

Resources

The IoL maintained its office facilities at Egerton House in Birkenhead during the initial stages of the pandemic, although the 2 office-based staff were asked to work from home in March 2020. The office facility was originally instigated to provide a 9-5 customer service center and to undertake most of the daily administration in relation to membership and event bookings.

The position with the office was subsequently reviewed in May 2021. The Trustees accepted that home working arrangements were working satisfactorily, and also that there would be significant benefit in reverting to one location for storage of filing and equipment, the majority of which are currently stored in Somerset. The Trustees also considered the ongoing position with the pandemic (advice at the time was to continue home working) and the difficulties of ensuring COVID security in communal areas within Egerton House where other businesses work.

On balance the Trustees agreed that the office should be released. Alternative arrangements will be made for a central phone line, using VOIP facilities.

The Training & Qualifications Manager was granted a 12-month sabbatical from September 2020. Initial plans for cover alongside an additional administrator (office based), were initially put on hold, and subsequently, in July 2020 a temporary position for Events Coordinator was recruited. The Admin Officer position was not filled.

Page 6

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

Hannah Roberts, the new Events Coordinator joined the team in August 2020, with an initial working patten of 3 days per week. In September, this was increased to 5 days due to the demand for online course hosting in addition to event organisation. In April 2021, the Events Coordinator started maternity leave and the Trustees agreed that the post (and staff member) had been extremely beneficial to the team and should continue with initial full time cover until September 2021, and subsequently based on a 3-day week alongside the Training & Qualifications Manager, providing a full week cover of event organisation and coordination.

An initial attempt at providing maternity cover for the coordinator role suffered a false start, and as a result, the existing team members have covered the work since April 2021. This has proven to be extremely challenging and unsustainable in the long term. The Training & Qualifications Manager is expected to return to work in September and the Events Coordinator later in the year which will bring the team back to a more sustainable level of staffing.

Membership

2020/21 membership levels dropped for the second year running, while the total number of people involved within the membership remained at the 2019/20 levels. Some of this was due to local government re-organisation, and there was a notable drop in complimentary memberships compared with the previous year.

Examination of lapsed memberships show that a majority were complimentary memberships issued to non-members following training bookings. It is normal practice for non-members booking IoL training to be offered complimentary membership (they will have paid a higher rate for the training) and the turnover on complimentary memberships is usually relatively high. There was also an undeniable impact from COVID-19. Of the 8 organisation memberships which were lapse last year, 4 were industry organisations who cited COVID as a direct factor in lapsing.

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The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

FUTURE PLANS

Training and Qualifications

There is currently a great deal of course development in progress and proposed including:

Awarding Body Status

The IoL’s position on Awarding Body Status remains substantially unchanged.

The Trustees recognise that attainment of Awarding Body status will require major investment in terms of structural development and financial sustainability and the organisation does not have sufficient reserves at present or the necessary infrastructure in place. The Trustees had previously agreed that IoL must grow as an organisation and establish strong reserves together with a sustainable annual turnover before considering Awarding Body status and that alternatives should be considered as well.

The IoL has long been fully committed to the development of a suite of nationally recognised licensing qualifications, accredited by IoL as the professional body for licensing. The Animal Inspectors Certificate provides a blueprint for future qualification development where qualifications are accredited by an Awarding Body (such as Pearsons), but where the qualification remains within IoL ownership.

Chartered Status

The IoL has started the process of applying for Chartered Status. The Trustees see this as an important development for the IoL which will assist in raising the profile of licensing professionals.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Board of Trustees is the governing body for IoL, responsible for the overall direction and development of the organisation. The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

IoL members are allocated a geographic region based on the former boundaries of the English regional government offices and the Countries of Wales, Scotland and Northern Ireland. Regions are allocated in line with business or residential locations.

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The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

The twelve regions are served by committees of regional officers elected by each region’s members, this will include a regional chair and director. Regional directors may also hold the position of regional chair, and are Trustees of the charity, and members of the governing board.

The regions provide regular meetings, and updates on the range of licensing topics, bringing speakers to the regional members to provide local opportunities to increase knowledge and understanding of licensing law and practice, to consider case studies, good practice or to discuss areas of particular interest. Crucially, the regions provide networking opportunities through the regional meetings, which are regular, accessible, and mostly provided at no or very low cost (cost recovery). In 2020 and 2021, the regions have continued to provide regular meetings via online video conferencing. These have proven to be very successful, although most regions will return to holding some of their meetings on a face-to-face basis in due course to facilitate networking which is much less attainable in a video conference setting.

The Board of Trustees

In addition to the democratically elected regional directors, additional Trustees (up to 9) can be co-opted to the Board.

On appointment, each trustee is required to sign a ‘statement of directors’ where they undertake to take all reasonable steps to meet their obligations to the Board and to the company. In particular the following undertakings are included in the statement:

The Board nominates and elects one of its members to chair the organisation, together with 2 vice chairs. The three positions are each elected for a 3-year term with one post reviewed each year on a rolling basis. In February 2021, Myles Bebbington stepped down as Vice Chairman and John Garforth JP was elected to serve as Vice Chairman alongside Gary Grant. Myles Bebbington had served in that capacity for many years and the Board recorded grateful thanks to him for his long-standing commitment to the Board. Myles remains with the Board as Regional Chair for the Eastern Region in 2021.

Page 9

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

Regional Volunteers

The IoL would not operate as effectively without the commitment and dedication of the regional officers serving the 12 regions across the UK. Regional committees are elected annually by the regional members at the local AGM meeting, and each regional committee works to organise regional meetings and events, and in doing so provide a local networking opportunity which is invaluable to IoL members.

A ‘Regional Officer Training Day’ held annually in June provides an opportunity to ensure that regional officers understand the structure, aims and objectives of the charity and the role of the regions. It is an excellent opportunity to discuss experiences and regional activities and sharing ideas and information about how each of the regions operates. It is an excellent networking opportunity and allows a general discussion about the work of the IoL and plans for the future. The Regional Officer Training Day was cancelled in 2020 but returned in June 2021 via video conferencing with good feedback from the regional officers in attendance.

Risk Management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud or error. The Trustees meet regularly throughout the year in order to scrutinise management reports, monitor activities and progress and plan ahead through its Strategic Plan.

A comprehensive Risk Register remains under review, the purpose of which is to underpin policies and procedures and to ensure that all risks are considered and appropriate mitigation measures taken / in place). This register is under review, alongside a review of all IoL policies to ensure all areas are covered, and all policies updated and relevant to the IoL now and moving forward.

FINANCIAL REVIEW Overview of the financial position

Key points to note include:

2020/21 2019/20 2018/19 2017/18 2016/17
Total incoming resources 390,230 371,487 325,894
281,409		 224,717
Total outgoing resources 248,879 309,787 302,143
275,793		 234,297

Financial Commitments

The financial commitments of the charity in 2020/21 were primarily human resources as the costs associated with the provision and maintenance of office facilities and course development contracts were covered by the Institute of Licensing Events Ltd.

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The Institute of Licensing (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 March 2021

Investments

The IoL’s investment portfolio was established in July 2014 and is managed on the Institute’s behalf by St James’ Place.

The fund took a downturn at the end of 2019/20 as a result of the initial impact of COVID-19. A rapid recovery followed, with the fund showing a 14.5% return on investment at the end of June 2020 and 24.57% return at 31st March (Encashment value £250,154).

Quarterly performance reports are provided by St James’s Place allowing the delegated committee and Board to monitor performance of the investment, and a more detailed analysis is provided to the delegated committee annually by St James’ Place. The Institute’s investment policy sets out monitoring arrangements.

The intention of the investment is to generate a higher rate of earnings from existing reserves, but Trustees remain cautious in the level of risk taken with the funds and have decided against any further investment at this time. The income derived from the investment, will supplement existing reserves, and will ultimately be used to develop the organisation with a view to achieving the longer-term goals including the continued development of professional qualifications.

Reserves

The charity’s reserves at the end of 2020/21 were £ 764,290.

The IoL ‘s Reserves Policy was reviewed in May 2018 and will be subject to regular review in line with budget setting. The policy sets out the contingency position and likely costs of winding up the company.

The reserves policy does not set out a growth reserves position but acknowledges that the growth aspirations of the organisation will require investment and that the position will be reviewed annually through this policy.

Subsidiaries

The Institute has a subsidiary trading company (the Institute of Licensing Events Ltd) which is VAT registered, and most national events are run by this company on behalf of the charity. Course fees are set with a view to ensuring that the event is cost effective while remaining affordable, particularly in the current financial climate.

The charity direct income is obtained through the payment of membership subs with up to 50% of the funds being paid back to the relevant regions in order to fund their activities. The working balance, despite membership income increasing year on year is insufficient to cover the operational costs of the charity. The subsidiary Events Company donates its net profits to the charity annually and this additional income is crucial to allow the charity to sustain itself and to enable growth and development for the benefit of the members. The Institute of Licensing Ltd is a director of the Events Company.

The activities of the Events Company are targeted toward ensuring that the events and training necessary and desirable to promote the charity’s objectives generate a level of profit to enable investment in the promotion of the objectives and the longer-term sustainability of the organisation.

Page 11

The Institute of Licensing (Limited by Guarantee)

Report of the Trustees

for the Year Ended 31 March 2021

Going Concern

The Board of Trustees has reviewed the financial position of the Institute of Licensing Limited and its subsidiary the Institute of Licensing Events Ltd, including the financial projections for 2021/22 and is satisfied that there are sufficient funds at the date of signature of the financial statements to manage any foreseeable downturn in the UK and global economy.

The COVID-19 pandemic had a significant impact on all areas of the charity’s activities and the activities of the subsidiary company, but the financial impact was minimised as a result of the hard work and dedication of the IoL staff, Directors, volunteers and trainers. As a result, the charity’s reserves were not adversely affected.

The Board considers there is a reasonable expectation that IoL has adequate resources to continue in operational existence for the foreseeable future and the Board therefore continues to adopt the ‘going concern’ basis in preparing the financial statements.

Approved by order of the board of trustees on 3 November 2021 and signed on its behalf by:

D Davies - Trustee

Page 12

Independent Examiner's Report to the Trustees of The Institute of Licensing

(Limited by Guarantee)

Independent examiner's report to the trustees of The Institute of Licensing (Limited by Guarantee) ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible 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 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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 true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with 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 Republic 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 understanding of the accounts to be reached.

Richard Smedley FCA Richard Smedley Limited Chartered Accountants & Registered Auditors 2nd Floor, Woodside House 261 Low Lane Horsforth Leeds West Yorkshire LS18 5NY

3 November 2021

Page 13

The Institute of Licensing (Limited by Guarantee)

Statement of Financial Activities for the Year Ended 31 March 2021

31.3.21
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
385,448
Charitable activities
Membership activities
524
Investment income
2
439
Other income
3,819
Total
390,230
EXPENDITURE ON
Charitable activities
Membership activities
248,879
Net gains/(losses) on investments
40,789
NET INCOME
182,140
RECONCILIATION OF FUNDS
Total funds brought forward
582,150
TOTAL FUNDS CARRIED FORWARD
764,290		 31.3.20
Total
funds
£
363,603
6,628
1,256
-
371,487
309,787
(17,764)
43,936
538,214
582,150

The notes form part of these financial statements

Page 14

The Institute of Licensing (Limited by Guarantee)

Balance Sheet 31 March 2021

31.3.21
Unrestricted
fund
Notes
£
FIXED ASSETS
Investments
5
1
CURRENT ASSETS
Debtors
6
5,141
Investments
7
250,154
Cash at bank
522,702
777,997
CREDITORS
Amounts falling due within one year
8
(13,708)
NET CURRENT ASSETS
764,289
TOTAL ASSETS LESS CURRENT
LIABILITIES
764,290
NET ASSETS
764,290
FUNDS
9
Unrestricted funds
764,290
TOTAL FUNDS
764,290		 31.3.20
Total
funds
£
1
5,441
209,365
378,264
593,070
(10,921)
582,149
582,150
582,150
582,150
582,150

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 15

continued...

The Institute of Licensing (Limited by Guarantee)

Balance Sheet - continued

31 March 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 3 November 2021 and were signed on its behalf by:

D Davies - Trustee

P J Andrews - Trustee

The notes form part of these financial statements

Page 16

The Institute of Licensing (Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial 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 historical cost convention, with the exception of investments which are included at market value.

As with most charities we have been impacted by the Coronavirus (Covid 19). This has had an impact on our operations and staff. We have (where appropriate) utilised the grants and benefits available from the Government and are taking all the steps we can to protect the future of our charity. Although the total impact is still uncertain the trustees believe that it is appropriate to prepare the accounts on a going concern basis.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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 restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

There have been no restricted funds to date.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Government grants

Government grants are accounted for under the performance model.

continued...

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The Institute of Licensing (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

2. INVESTMENT INCOME

INVESTMENT INCOME
31.3.21 31.3.20
£ £
Deposit account interest 439 1,256

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

Trustees' expenses
STAFF COSTS
The average monthly number of employees during the year was as follows:
Staff
No employees received emoluments in excess of £60,000.		 31.3.21
£
-
31.3.21
8		 31.3.20
£
7,323
31.3.20
8

4. STAFF COSTS

5. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKET VALUE
At 1 April 2020 and 31 March 2021 1
NET BOOK VALUE
At 31 March 2021 1
At 31 March 2020 1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

continued...

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The Institute of Licensing (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

5. FIXED ASSET INVESTMENTS - continued

Institute of Licensing Events Ltd

Registered office: Ridgeway, Upper Milton, Wells, Somerset,BA5 3AH Nature of business: Training company

%
Class of share:
holding
£1 Ordinary Shares
100
Aggregate capital and reserves
Profit for the year
6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
7.
CURRENT ASSET INVESTMENTS
Listed investments		 31.3.21
£
186,199
187,573
31.3.21
£
1,294
3,266
581
5,141
31.3.21
£
**250,154 **		 31.3.20
£
229,638
231,012
31.3.20
£
5,410
-
31
5,441
31.3.20
£
209,365

continued...

Page 19

The Institute of Licensing (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other creditors
Accrued expenses		 31.3.21
£
980
4,033
8,695
13,708		 31.3.20
£
3,235
1,001
6,685
10,921

9. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.20
£
582,150
582,150		 Net
movement
in funds
£
182,140
182,140		 At
31.3.21
£
764,290
764,290

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
390,230
390,230		 Resources
expended
£
(248,879)
**(248,879) **		 Gains and
Movement
losses
in funds
£
£
40,789
182,140
40,789
182,140

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.19
£
538,214
538,214		 Net
movement
in funds
£
43,936
43,936		 At
31.3.20
£
582,150
582,150

continued...

Page 20

The Institute of Licensing (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
371,487
371,487		 Resources
expended
£
(309,787)
(309,787)		 Gains and
Movement
losses
in funds
£
£
(17,764)
43,936
(17,764)
43,936

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.19
£
538,214
538,214		 Net
movement
in funds
£
226,076
226,076		 At
31.3.21
£
764,290
764,290

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
761,717
761,717		 Resources
expended
£
(558,666)
(558,666)		 Gains and
Movement
losses
in funds
£
£
23,025
226,076
23,025
226,076

continued...

Page 21

The Institute of Licensing (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

11. MEMBERS' LIABILITY

The company is limited by guarantee and in the event of the winding up of the company, the liability of each member is limited to a contribution of £1.

12. REGIONAL ACCOUNTS

East Midlands
Eastern
Home Counties
London
North East
North West
Northern
Ireland
South East
South West
Wales
West Midlands
Scotland		 At
1.4.20
£
8,946
8,168
8,440
8,379
8,931
8,199
3,683
7,887
7,999
8,370
9,062
221
88,285		 Incoming
resources
£
-
4
-
214
-
246
-
-
60
-
-
-
524		 Resource
s
expended
£
(1,660)
(300)
(1,740)
(300)
(1,960)
(2,340)
(934)
(1,030)
(1,362)
(300)
(1,157)
-
(13,083)		 Transfer
from
central
funds
£
1,600
1,150
2,600
1,800
2,500
2,000
656
1,500
3,300
1,900
2,000
1,250
22,256		 At
31.3.21
£
8,886
9,022
9,300
10,093
9,471
8,105
3,405
8,357
9,997
9,970
9,905
1,471
97,982

Page 22

The Institute of Licensing (Limited by Guarantee)

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Subscriptions
Investment income
Deposit account interest
Charitable activities
Regional events
Other income
Government grants
Total incoming resources
EXPENDITURE
Charitable activities
Salaries & national insurance
Pensions
Insurance
Telephone
Postage and stationery
Sundries
Meeting expenses
Subscriptions
Regional events
Publication contract
Bad debts
Support costs
Governance costs
Trustees' expenses
Carried forward		 31.3.21
£
231,012
154,436
385,448
439
524
3,819
390,230
213,003
5,464
1,744
3,219
49
1,559
442
1,645
13,083
3,360
(579)
242,989
-
-		 31.3.20
£
212,733
150,870
363,603
1,256
6,628
-
371,487
222,282
5,570
1,414
3,823
775
1,711
11,324
1,499
43,242
3,330
1,399
296,369
7,323
7,323

This page does not form part of the statutory financial statements

Page 23

The Institute of Licensing (Limited by Guarantee)

Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
Governance costs
Brought forward
Accountancy
Payroll
Total resources expended
Net income		 31.3.21
£
-
4,500
1,390
5,890
248,879
**141,351 **		 31.3.20
£
7,323
4,500
1,595
13,418
309,787
61,700

This page does not form part of the statutory financial statements

Page 24