REGISTERED COMPANY NUMBER: RC000822 (England and Wales) REGISTERED CHARITY NUMBER: 1124517 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 FOR THE CHARTERED INSTITUTE OF PLUMBXNG & HEATING ENGINEERING clemen￿ Hoar Cummings Chartered Accountants and Statutory Auditor Riverside House 1-5 Como Street Romford Essex RM7 7DN THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Page Report of the Trustees I to 14 Report of the Independent Audltors IS to 17 statement of Flnanclal Activities 18 Balance Sheet 19 to 20 Cash Flow Statement 21 Notes to the Cash Flow Statement 22 Notes to the Flnancial Statements 23 to 33 Detalled Statement of Flnancial Actlvltles 33 to 35 COTrl¥P¢TENcE AND REPORT OF THE BOARD OF TRVSTEES FOR THE PERIOD ENDING 31￿ DECEMBER 2024 Proud to be a Professional Page I THE CHARTERED INSTrruTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The Trustees present their report with the financial statements of the charity for the year ending 31st December 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reportino by Charities, issued in accordance with the Financial Reporting standard for Smaller Entities effective 1st January 2019. In addition, Trustees have paid due regard to the Charity Commission's guidance on public benefit in determining activities CIPHE Should undertake. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number RC000822 (England and Wales) Reglstered Charlty number 1124517 Registered offlce Saxon House 27 Ouke Street Chelmsford CMI IHT Trustees P. Massey N. Jones BA ACA K. Mccallister EngTech MCIPHE RP N. Overton MCIPHE R. Mallender EngTech FCIPHE RP ceased 07.06.24 G. Westall EngTech MCIPHE RP C. Brooks M. Gumbs EngTech MCIPHE RP - appointed 07.06.24 Co-opted and Observer Speclalists to the Board of Trustees P. Thom FCIPHE FRSA FCIM AIGFM T. Morrison date of resSgnation 18. 11.24 M. Bridges EngTech MCIPHE RP H. Hung EngTech HonFCIPHE RP (Immediate Past President) ceased 07.06.24 Honorary Company Secretarv C. Brooks President Y. Orgil l appointed 07.06.24 A. Wildish CEng FCIPHE (Immediate Past President) - from 07.06.24 Chief Executlve Officer Kevin Wellman EngTech FCIPHE RP Auditors Clemence Hoar Cummlngs Chartered Accountants Riverside House, 1 5 Como Street Romford Essex RM7 7DN Solicitors Penningtons Manches Cooper LLP 31 Chertsey Street Guildford Surrey GUI 4HD Page 2 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Bankers Barclays Bank PLC Knightsbridge Business Centre PO Box 32014 London NWI 2ZG Investment Advlsors Cazenove Capital Schroder Co. Limited l London Wall Place London EC2Y SAU STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Chartered Inslitute of Plumblng and Heating Engineering is a company incorporated by Royal Charteri granted on 12th February 2008. It is a registered charityi obtaining charitable status on 16 June 2008. The Institute Ss governed by its Royal Charter and Bye-Laws. The 8ye-Laws and Regulations are under constant review and were last updated in 2017 and 2020 respectivelyi and future amendments will be carried out when necessary. Recruitment and appolntment of new Trustees Applications for Trusteeship are sought by advertisement. Induction and tralning of new Trustees After appointment, an induction is arranged for new Trustees. Trustees serve up to a four-year period and may be re-eletted for a further four-year period (effective from 2018). The Trustees meet at least five times a year to review the strategy and performan￿ and to set the operatlng plans and budgets. Organlsatlonal structure There are committees covering membership, professional standards, technical servSces and investments. The Chief Executive Officer is appolnted by the Trustees to manage the day-to-day operations of the Institute. Related partles The Institute is the registered owner of 100% of the issued capital of Plumbing and Heating Promotions Limited, which became dormant in 2022. The Institute is also the registered owner of IOOO/o of the issued share capital of GreenPlumb Limited and SafePlumb Limited, which have remained dormant since thelr respective incorporation. Rlsk management The Trustees have introduced a formal risk management process to assess business rlsks and implement risk management strategies. The Trustees are pleased to report that the charity's internal financial controls, in particular, conform to guidelines issued by the Charity Commission. The Trustees are fully cognisant of their responsibility to evaluate and manage business risk, which they classified as: a. Governance and Management b. Operational Risks Financial Risk d. Environmental and External Factors Compliance Other Risks not classifiable under the above headings. The Executive team discuss and rate business rlsks as they are identified. On-golng monitoring and updates on risk management are undertaken through reports provided by the Chief Executive Officer. Page 3 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 OBJECTIVES The Purpose of the CIPHE is to enhance the safety, health and wellbeing of the public through a strong qualified membership reinforced by their competency and technical expertise. The Mission of the CIPHE is to operate as an independent technical and professional focal point and be a catalyst for the plumbing and heating industry by providing technical and professional standards, expertise, education and technical innovation to the operatives within its scope. The Vlslon of the CIPHE is to create technical excellence through whlch the public will recelve the benefit of a protected environment and enhanced sustainability together with improved safety and health through the provislon of correctly installed, commissioned, malntained and decommlssioned plumbing and heating systems. The aims of the CIPHE are summarlsed in four areas in the following graphlc.. UBLIC ALTh EOUCATIONk , RESEARCH Strateglc Plan The Strategic Plan Is fully reviewed each year. The Board approved the 2025 - 27 Strategic Plan, whlch continues to focus on a number of the key activities In support of its role as the Chartered body for the plumbing and heatlng industry. Our strategy focusses on harnessing the considerable expertise available within the CIPHE, our membership and our Industry colleagues. Together we work to promote best practice, create training opportunities, and enhance education within the plumbing and heating industry. To further safeguard public interest, especially for the vulnerable, and encourage safety withSn all bulldings, an object of the CIPHE is to double membership whlch ultimately will lead to a safer environment and help to outlaw rogue installers. The Strategic Plan is underpinned by a manSfesto summarising key activities which is promoted to government, consumers and the industry. The CIPHE'S prime aim is to advance for the benefit of the public the science, practice and principles of plumbing and heating engineering and in exercising its responsibilities to satisfy the requirements of the Charity Commission. It fulfils its objectives through several activities. A summary of these and key achievements follows: ACTIVITIES AND ACHIEVEMENTS Publlc Benefit Public benefit is derived from the activities set out below particularly in raising the safetyi health and environmental aspects of plumbing and heating engineering in the perception of the public. Page 4 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Consumer Su ort The Institute continues to provide support to members of the public through telephone enqulrles and through publication of articles in consumer magazines. In addition, it promotes the Find a Professional Ilsting which is available through the CIPHE website. In 2024 it was decided that the Institute would develop a model that increased the number of businesses listing via the online business directory. It was subsequently agreed that from 1st January 2025, there would be two types of listing available the long-standing paid for premium service (including further enhancements) and a further one that was included wlthin the standard membership fee. Bullding Safety Advisory Panel CIPHE continues to support the Bullding Safety Advlsory Panel (BSAP). Thls was formerly Working Group 2 that was instlgated after the Grenfell Tower Fire. The Construction Leadership Council (CLC) is championing and supporting the delivery of safe and high-quality buildings for those who live and work in them. En ineerln & Buildin Services Skllls Authorit EBSSA CLPHE is pleased to be proactively involved with EBSSA which was convened by Actuate UK members together with other leading Sector bodies, such as BEAMA, TICA and the standards organisation MCS, to provide a credible authorltalive voice for skills across all engineerlng and building services. The key objectives of thls coalition are to provide analysis based on transparent data on the sector skills demand and supplyi and utilise this evidence to highlight needs, educate, influence policy makers and providers to close the skills shortage gaps with measurable interventions. EBSSA is involved in the Constnjctlon Leadetship Councll's Skills Worklng Group 2, part of wider industry and government efforts to 'raise the bar. on individual competence within the built environment In Ilne with the new post-Grenfell competence regime established by the Bullding Safety Act. cadem ofEn Ineerin RAEn CIPHE continues to support the RAEng and regularly promotes the need for improvements in education and liceiising, Support was given to the report: 'Engineering a resilient and prosperous future, which addressed policy priorities for the next UK parliament. RAEng hosts meeting with Professlonal Engineering Institutes and the Engineering Council (EC). At the PEC meeting in November the EC announced that it was considering a revlew of the 2012 statement on the status of engineers. It plans to gather views on the potential future of regulatory approach, in the light of expected increased focus on publlc trust and the need to have the right mechanisms to demonstrate both technical competence and professional commitment. The CIPHE has been campaignlng for thi5 for many decades. Gov ment En ment CTPHE enjoyed a much increased engagement with numerous government department5 Includingi IfATE, DESNZ, the Buildin¢J Safety Regulator and Defra. DESNZ responded to the feedback on the'Increa5ing Boiler Efficiency Standards consultation, whlch CIPHE responded to. It was encouraging to see that the department is wanting to mandate training for low temperature systems. CIPHE'S qualification which 15 regulated by OFQUAL has seen over 2,000 individua15 attend the low temperature training since its launch two years ago. Defra invited CIPHE to numerous round table events as well one to one meetings. Early in the year Defra offlcials raised concerns about the current plumbing apprenticeship. It also a nnounced that It would be introducing a Mandatory W6ter Labelling Efficlency Scheme In 2025. Net Zero Following the government's response to the Improving Boiler Efficiency Standards consultation, the CIPHE wrote to DESNZ seeking clarification as to when the Low Temperature Qualification will be mandated. The CIPHE produced a Home Heating Guide, which explains the various New Zero technologies Sn Further detail. It was made available to publlc and industry alike through the website. It has been reproduced and promoted by Truslmark at their events and exhibitions. The Institute continues to encourage the government to introduce licensing and ma ndatory training to all involved wSth plumblng and net zero activities. Page 5 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 lumbin renticeshi The DfE raised concerns with IfATE regarding the low completion rates for the current apprenticeship. CIPHE was approached to investigate further and report back. An Education Survey was circulated widely and found that 90010 of respondents were supportive of a proposal to develop both Level 2 and Level 3 apprenticeships. Some 360 responses from members and non-members were received. A Plumbing Employers, Group was established which attrarted support from over 30 employers. They developed proposals to apply to IfATE to develop a Level 2 and Level 3 apprenticeship. The submission that was made to IfATE's Route Panel was extensive and was 5UPPOrted by many messages of support from employers, a heating manufacturer, industry associations and independent training providers. It was encouraging to see a comprehensive leller from Defra in full support of the new apprenticeshlp. The interview with IfATE's Route Panel took place in December and during the first week of 2025, written confirmation was received advising that CIPHE through its Plumbing Employers, Group should develop the Standards for Level 2 and Level 3. Re ister of Plumbers - Public Re Ister The Worshipful Company of Plu mbers established the Register, which glves the publlc access to qualified plumbers, in 1886. It helps protect public health and safety and promote5 the competence and conduct of good plumbers. In 1909, the Company handed over day-to-day management of its Reglster to the National Council for the Registration of Plumbers, which, in 1953, was renamed the Registered Plumbers Association. When the Association amalgamated with the Institute of Plumbing in 1970, the Worshipful Company relinquished the Register and award of the designation "Registered Plumber" to the new Institute. As at 31st December 2024, 70,403 Individuals had been entered onto the Register. The Reglster of Plumbers Is maintained In the Membership Department and is avallable for inspection by any member of the public by appointment. RAister of Hea Since its launch in January 2010, 880 members have been entered on to the Register of Heatlng Professionals. atersafe - Public Re ister The CIPHE continued its involvement wlth Watersafe whose objectives are to contribute to the safely of drii)king water supplies and protection of customers, by: Bringing together six Approved Contractors, Schemes. Promotlng good plumbing practice and Complian￿ with the Water Supply {Water Fittings) Regulatlons and Scottish Water Byelaws. Providing easy access to online search facility listing approved and competent plu mblng businesses. Reducing the rlsk to drinking water supplies from poor plumbing practice The number of Watersafe registered members of CIPHE Increased by 20Wo from 331 to 396 in 2024, 8.80/0 of a total of 4,510 Approved Plumbers registered with the scheme. Watersafe contrtbutes towards public health by helping consumers to protect their drinklng water and avoid rogue traders by offeri ng them an accessible online directory of qualified plumbers. Which? Trusted Trader CIPHE continues to collaborate with Which? Trusted Trader to promote positive consumer facing messaging regarding the plumbing and heating industry and provides a platform for them to communicate wlth members through the membership benefits and services guide and resources. In 2024, this has included developing a CIPHE membership offer for members of the Which? Trusted Trader scheme. Page 6 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 CIPHE Manifesto The manifesto continues to be published on an annual basis. It was distrlbuted widely during the year and continues to be received favourably, especially by the trade press. Covering key issues such as the health, safety and welfare of the public, the environment, edLJCation, regulation and licencingi the CIPHE'S manifesto sits the plumbing and heating industry at the centre of many key areas of Government policyi such as health, education, housing, energy and the environment. An updated manifesto, including focused priority items for 2025 - 2027 was launched in December. Su ortin Consumers throu htheRe istration Authorit The Institute has a duty to investigate complaints that allege a member has not complied with the Code of Professional Standards to act professionally, competently and responsibly. Upon notification of such complaints, the complalnant is required to complete a form, whlch is then submitted to the Investigation Panel (IP) to proceed further. During 2024, the Panel investigated 5 complaints, referring 2 to the Disclpllnaiy Committee. The Disciplinary Committee Impose sanctions on members when a complaint against them has been upheld. During 2024, 1 member was removed from membership for falling to adhere to the Code of Professlonal Standards Educatlon I Pathwa A new career pathway flowchart has been produced by the CIPHE which details each route a learner might lake across domestic plumbing and heating as well as commercial and Industrial. The Approved Training Centres increased to 74 during the year. ducational Develo ment throu h Competition The CIPHE continues to support and engage with competitlons. Heating Installer Plumber of the Year (HIPLOY) and a new all-Female Skills competition attract a wide audlence across England. Jerry Whitcley (Technical Manager) is the Head Judge for both competitions which are valued by education, manufacturers and industry bodies. It provldes access to a younger audience and capitalises their knowledge of the CIPHE and what it stands for. We also support the Heating Installer of the Year Awards that hold a review and celebrate best practice for existing installers. Thls Is celebrated at the largest plumbing and heating show In June each year at the NEC Lnstallershow. During the Show we are also prlvlleged to support and judge the Installer Merit Awards for seNices people do out of kindness. Latterly, we were also asked to judge the PHAM News Energy Efficiency Awards held in London for thelr successes in designing energy efficient heating and hot water systems across the UK. The range of competitions we support has grown, to now include the HPM maga2ine. The success of the HIPLOY competition and the Female Skills competitions bring many ways of engagements. Training providers and their learners, manufacturer5 all seek the CIPHE services. Langley College have used our service for training learners on Water Regulations and G 3 hot water systems. These courses are part of the prerequisites for accessing green technologies, One other new service provided is a Deep Dive quality checks for FE providers. Quallty of teaching and learning and the student experience Is a vital quality check, we provided an independent servlce for the LOW College who wlll use this to improve dellvery of plumbing and heating learnSng. Buildin Services En ineerin lo er Indust Board CIPHE were invited by City & Guilds to partake in the Building Services Engineering Employer Industry Board along with industry experts and employers to ensure the skills employers need are met for a more productive workforce. Our representation 15 through the Employer Industry Board (EIB) which forms part of thls group. Page 7 THE CHARTERED INSTrfuTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The EIB comprSses of employers, professional bodies and other sector organisations who collaborate to ensure that educational services are fit for purpose. New T Levels have been launched and are currently being trialled across the country. New criteria for work experience have now been applied as well as funding for employers. The contract for the T Levels has changed hands from City and Guilds to EAL/Wjec. They are revlsing the structure of the pathways by combining plumbing and heating as one. Retention of learners has been an issue, and the restructuring Is part of their solution. The Technical team has been invlted to review content and to ensure mapping will meet the proposed changes of the apprenticeship. Continuin Professional Develo ment and Academ A requirement of the Code of Professional Standards is that members should undertake CPD to broaden and maintain thelr knowledge and the CIPHE recommends that members should undertake 30 hours of CPD on an annual basis. The Institute delivers many ways by which members can earn CPD hours, including via CPD articles In P&H Engineering magazine. The CIPHE Academy attrarted 493 registered users and 241 completed courses, wlth a further 93 courses In progress by year-end. Number of Numberof Nwnberof Numborof In progress 241 To assist wlth monitoring CPD, the CIPHE supports mycareerpath@, which is an online professional development system, designed by the Engineering Council and adopted by many professional engineering institutions for use by their members. The CIPHE digital project Is Incorporating techtalk@ and smarttalk@ content, providing informed technical and professional education and traSning across a range of subjects. The video content has collectively had more than 70,000 views to date. The CIPHE Plumbing Engineering Service5 Design Guide has been made freely available online for members and work to update the Guide section by section continues. A website for the member magazine, P&H Engineeringi is a￿SSIble at www.pandhengineering.co.uk. Page 8 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 roved Trainin Centre The CIPHE has continued to promote its revised Approved Training Centre model that Includes membership for the trainers and access to digital training tools that have been deve loped too. The following colleges joined the Institute as Approved Training Centres (ATC) in 2024: An91ia Tralning Centre @ College of West Anglia Blackburn College Ideal Heating Expert Academy - Hull Ideal Heating Expert Academy - Leeds Ideal Heating Expert Academy - Luton North Shropshire College South West Construction Academy Ltd Walsall Training Centre Ltd Wigan & Leigh College Industry Engagement World Plumbin Council The World Plumbing Council (WPC) signed a Memorandum of Understandlng (MOU) with Worldskills International. This agreement marks a major milestone, celebrating 20 years of collaboration between the organi5ations. We commend Ruben Duggan for achieving Silver medal at the 47th Worldskills Competition that was held in Lyon, France. The WPC sought applications for its three annual scholarships: Two Education and Training Scholarships for indlvlduals actively involved in their local plumbing Industry: These scholarships allow professionals to travel internationally and gain new insights into the Industry. One United Association Instructor Training Program Scholarshlp: This scholarship enables a tralner, Instructor or teacher from the plumbing industry to attend the annual United Association Instructor Training Program In Ann Arbor, Michigan, USA. The CEO updated the WPC Executive Board on progress for the WPC Conference in June 2026 In collaboration with the TnstallerSHOW. The logo was launched at the 2024 1nstallerSHOW to great acclaim. Lord Ma or Lecture The CEO was invited by the 695tli Lord Mayor of London to carry out a virtual lecture as part of the Gresham Society Lecture Series. The presentation on behalf of the Worshipful Company of Plumbers was entitled 'The Need for Green Plumbing, UK & Worldwide.. Construction Industr Council CIPHE contlnues to support the CIC which Is an umbrella body for the Built Environment professions With 35 Members and 20 Associate members collectively representing over 500,000 people and several thousand buslnesses. During the year the CIC has engaged with industry and government departments rcgardlng numerous issues including: Invest 2035.. the UK'S modern industrial strategy, Golden Thread guidance, Buildlng A Safer, Healthler And More Sustainable Future For All and Manifestos from the Built Environment. Industrial Associates CIPHE continues to partner on projecls with some of the Industrlal Associates Development Group ranging from support for apprenliceships and training to product focused CPD, the low carbon agenda, and shared prioritie5 on matters of public safetyi wellbeing and the plumbing and heating industry workforce. Regular Industrial Associate focused communications are included amongst the rest of our output to members. Feedback from Industrial Associates highlight5 their support for CIPHE key messages such as the manifesto. Issues around the aging workforce, current and future skills-gap, professional routes into the industry and what this will mean for their businesses and their product5 continue to be a priority and provide opportunities for CIPHE to highlight them. During a meeting hosted by Fernox in November Industrial Associates were given an insight into the 3D technical projert they had kindly sponsored depicting a resldential household plumbing and underfloor heating system. It will be launched to colleges and training centres in January, Page 9 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 RESEARCH & TECHNICAL Technlcal Strategy Group The Technical Strategy Group (TSG) operates as an independent technical and professional focal point and aims to be an authority to the plumbing and heating industry by providing technical standards, guidance, expertise and education & technical innovation. It achieves this through the appointment of Technical Working Groups. the following Groups have been established: Water Safely; Heatlngi Controls, Hot and Cold Water Services and Above & Below Ground Drainage. In addition to this, the CIPHE have engaged in a wide variety of technical industry group meetings ensuring both the installer and consumer are being represented correclly. This included revisions to the building regulations and other matters associated with bolh water safety and the future of heat in buildings. In addition, work commenced on carrying out revisions to the Plumbing Engineering Services Design Guide. The PESDG Heatlng Section Is currently under Internal review by Paul Harmer and Mike Maskrey after being externally reviewed by a number of industry experts. Parts I to 4 have currently been completed, with work continuing via regular meetings. MEMBERSHIP & PROMOTION Membershlp and Englneerlng Councll The total membership as at 31st December 2023 was 7,483, an Increase of 4% year-on-year. Membership breakdown by category (Dec 2024) FCIPHE rain•a 22Tr) IA Supporter Api)roved T1￿￿ni Leiilro Iqii j A'li.late mpiinion 116 MLIPHE 561 ACIPHE At the end of 2024, ACIPHE, MCIPHE and FCIPHE together totalled 730kn of CIPHE membership Page 10 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Appllcatlon breakdown by category 2024 IA oUPPOrter FCIPHE Ogb Approved r8irir ¢.ftntr 1gb T'alnee 41% MCIPHE Companion 116 Afliliatg 29) ACIPHE | 84 Throughout 2024, ACIPHE, MCIPHE and FCIPHE totalled 53% of membershlp applicatlons received During 2024, 8 appllcants were newly reglstered at EngTech level, l at IEng level and O at CEng level. As at the end of 2024, the Institute had 652 Englneering Technicians, 67 Incorporated Engineers and 25 Chartered Engineers. Master Plumber Certificate On Monday Ilth March 2024, the Master Certificate Awards for Construction Liveries were held at the Egyptian Hall, Mansion House hosted by Lord Mayor Alderman Professor Michael Mainelli. Nigel Baldwin EngTech FCIPHE RP and Adrian Paul Liddell EngTech MCIPHE RP RHP were presented wlth their Master Plumber Certificates. Plumbing Professionals Development Scheme In January 2024, The CIPHE and Worshipful Company of Plumbers launched its Plumbing Professionals Development Scheme having identified 10 talented individuals to support in the early stages of their careers. Through the year, thi5 has included providing additional learning opportunities and experiences, networking and support via a mentoring programme and encouragement and guidance to achieve advanced stages of professional registration and recognition. The scheme continues into 2025 with a new cohort of beneficiaries identified. Page 11 THE CHARTERED INSTITIJTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Exhibitions The CIPHE was again a key partner and exhibitor at the InstallerSHOW in its new home at the Birmingham NEC. Once again, CIPHE partnered with a number of Industrial Associate members to run a competition that meant CIPHE was vlsible to help drive footfall across a number of stands The Institute asslsted and contributed to presentations at the event, the promotion of a Certlficate of Excellence conjunction with the Worshipful Company of Plumbers and with judging for the Enstaller Merit Awards and the Heating Installer of the Year Award. Overall, the event was another great success for the CIPHE, generating new members, strengthening ties with existing members. Promotlonal Campaigns and Medla The CIPHE has worked closely with the plumbing and heating trade press, who con515tently assisted in promoting the CIPHE key messages. CIPHE, via its staff and its members, has also been increasingly prominent in national media regarding plumbing and heating issues, including an appearance on This Morningi and an extensive consumer focused advisory piece in Grand Designs magazine. The CIPHE continues its calls for greater levels of communication between government and organisations such as the CIPHE to establish long-term strategies which will combat the fuel poverty epldemlc. The CIPHE and its membership is dedicated to safeguarding the most vulnerable in socletyi and that include5 those Ilving in fuel poverty. With continued volatility surrounding fuel prices there Is increasing concern that many more people wlll enter into fuel poverty. The Government must seek to protect these people; only by working together can we stop the unnecessary and highly preventable deaths aitributable to thls Issue. Website statistlc$ CIPHE web traffic has declined compared to 2023, but the number of pages vlsited and average length of time spent on the website have both increased: Slte users: 51,226 Sessions: 78,390 Sessions per user: 1.53 Page views,. 260,217 Pages per session: 5.08 Average engagement time per user: 02:26 In addition, during 2024, the followlng transactions took place through the website: 352 people joined online - total value of £63,697 830 shop orders placed total value of £29,762 1,922 membership renewal payments made online - total value of £302,422 Soclal Media The CIPHF is active on social media. In 2024, we decided to de-prioritise the use of X (formerly known as Twitter) and instead focus attention on Instagram instead. By the year-end, our followers across our priority channels had increased as follows: Lin kedln Facebook Instag ram 6,058 {13Wo increase) 3,091 {20/0 increase) 713 (started year at o) Annual General Meetlng The 16th AGM of CIPHE was held on Friday 7th June. The AGM was held at Macdonald Alveston Manor Hotel & Spa In Stratford-Upon-Avon and was also conducted via Zoom Conference Facilities. In excess of 51 members participated worldwide to see Yvonne Orgill take office as National President and Jason Clark as Vice-President. Melville Gumb5 was elected as Voting Member Trustee to serve on the Board for 4 years. Page 12 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 FINANCIAL REVIEW Reserves pollcy The Ti-ustees regularly review the reserves of the charity to meet its financial commitments and achieve its objectives. They consider that the charity had sufficient reserves to operate for the next 12 months and into the foreseeable future. The prime objective of the reserves policy of the Trustees is to maximise CIPHE surplus funds which are held in a range of interest bearing bank accounts. In particular the General Fund is invested with due regard to potential calls on the fund as identified in the Strategic Plan. Investment pollcy and objectlves The Institute has the power to make any Investment that the Trustees see flt. Following the sale of the freehold property at 64 station Lane an Investment Committee was formed and Cazenove were appointed as the CIPHE investment advisors. The property sale proceeds have been part Invested in a cautious portfolio fund ready for a purchase of a new freehold premises and part invested in a longer term portfolio to maximise yields. The Investment objective is to produce the best investment return within an acceptable level of risk. Head Offlce Ln June 2024 we relocated out of 64 Station Lane following Its sale, to a managed office in Saxon House, Chelmsford as a temporary measure while we seek a more permanent residence. ACKNOWLEDGEMENT The CLPHE 2024 Trustee Report is structured around our key objectives and highlights key activitles throughout the year. Acknowledgement and appreciation must be given to the Truslees, Presidents, committee and working group representatives, volunteers, staff and industry stakeholders who have assisted the CIPHE throughout the year. Your commltment and enthuslasm In supporting our alms and activities has challenged, motlvated and Insplred the CIPHE to progress and we look forward to worklng closely wlth you in the comlng years. STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also the directors of The Chartered Institute of Plumbing & Heating Engineering for the purposes of company law) are responsible for preparing the Report of the Trustees and the financlal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reportlng Standard 102 "The Flnancial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each flnanclal year which give a true and falr view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accountlng policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 13 THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS In so far as the trustees are aware- there is no relevant audit information of which the charitable company's auditors are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that informatS0n. AUDITORS The auditors, Clemence Hoar Cummings, wlll be proposed for re-appointment at the forthcomlng Annual General Meeting. ON BEHALF OF THE BOARD OF TRUSTEES: Approved by order of the board of trustees on by: .2610312025............. and slgned on its behalf By order of the Board of Trustees Paul Massey, Chairman Date: 2610312025 Page 14 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CHARTERED INsfITUTE OF PLUMBING & HEATING ENGINEERING Opinion We have audited the financial statements of The Chartered Institute of Plumbing & Heating Engineering (the 'charitable company,) for the year ended 31st ￿e￿mber 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard appllcable in the UK and Republic of Ireland.. In our opinion the financial statements: give a true and fair vlew of the state of the charitable company's affairs as at 31st December 2024 and of its incomlng reSoUr￿S and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republlc of Ireland,; and have been prepared in accordance with the ￿ qulrements of the Companles Act 2006. Basls for oplnlon We conducted our audlt In accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further de.fcribed in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financlal statements In the UK, including the FRC'S Ethical Standard, and the provisions available for small entltles, in the circumstances set out In note 23 to the financial statements, and we have fulfilled our other ethical responsibilities In accordance with these requirements, We believe that the audSt evldence we have obtalned is sufficient and appropriate to provlde a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have concluded that the tnjstees, use of the going concern basis of accounting in the preparation of the financlal statement5 Is appropriate. Based on the work we have performed, we have not identifi'ed any material uncertaintles relatlng to events or conditions that, individually or collectivelyi may cast slgnificant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorlsed for issue. Our responsibilltles and the responsibilities of the trustees with respect to golng concern are described in the relevant sections of thls report. other Informatlon The trustees are responslble for the other information. The other Information comprises the Information Included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other informatlon and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclu51on thereon. In connection with our audit of the financial statements, our responslbility is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the Financial statement5 or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we Identify such materlal incon5islencies or apparent materiél misstatement5, we are requlred to determine whether this gives rise to a material misstatement in the financial Statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other Information, we are required to report that fact. We have nothing to report in thi5 regard. Page 15 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements. or the charitable company has not kept adequate accounting records, or the flnancial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audlt. Responsibilitiès of trustees As explained more fully in the Statement of Trustees, Responsiblllties, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and falr view, and for such internal control as the trustees determlne is necessary to enable the preparation of ffinanclèl statement5 that are free from material misstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responsible for assessing the charltable company's ability to continue as a going concem, disclosingi as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responslbllltles for the audlt of the financlal statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain ￿aSOnable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Audltors that includes our oplnion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wlth ISAS (UK) will always detect a material misstatement when It exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influence the economic decislons of user5 taken on the ba51s of these financial statements. The extent to which our procedures are capable of detecting irregularities, Including fraud Is detalled below: Irregularities, including fraud, are instances of non-compliance with laws and regulJtlons. We design procedures in Ilne with our responslbllities, outlined above, to detect material misslatements i n respect of Irregularities, including fratjd. The extent to whlch our procedures are capable of detecting Irregularities, includiiig fraud is detailed below: We have designed our work to ensure thot laws and regulations have been adhered to, and the transactions undertaken by the Charity ère properly reflected in the financial statements, We designed procedures whlch included, but were not limited to: Agreeing financlal statement disclosures to underlying supporting documentation. Enquiring of management as to actual and polential litigation and claims. We have obtained a detailed understanding of the Charity's intemal control systems and we have used the knowledge