REGISTERED COMPANY NUMBER: RC000822 (England and Wales) REGISTERED CHARITY NUMBER: 1124517 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST DECEMBER 2025 FOR THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 Page Report of the Trustees I to J4 Report of the Independent Auditors 15 to 17 Statement of Financial Activities 18 Balance Sheet 19 to 20 Cash Flow Statement 21 Notes to the Cash Flow Statement 22 Notes to the Financial Statements 23 to 34 Detailed Statement of Financial Activities 35 to 37
REPORT OF THE BOARD OF TRUSTEES FOR THE PERIOD ENDING 31sI DECEMBER 2025 Proud to be a Professional Page I
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGENEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 The trusLeÉs who are also director5 of Lhe charlty for the purposes of the CorTrpanies Act 2006, present their report with the financial statements of Ihe charlty for the year ended 31st December 2025. The trlistees have adopted the provisions of Ac.r.Dunting and Reporilng by charities.. Statement of Recommended Practice appllcable to charities pi-eparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Repijblic of Lreland (FRS 1021 leffectlve l January 20191. REFERENCE AND ADMINISTRATNE DETAILS Registered Company number RCOOD822 {England and Wal&) Registered Charity number 1124517 Reg1Stered office 3 Capricorn Centre Cranes Farm Road Baslldon Essex SS14 5JA Trustees P. Nassey deceased 10.03.26 N. Jones FJA ACA K. Mccallister EngTech FCIPHE RP N. Overton MCIPHE G. Westall ErigTÈch MCIPHE RP re-appolnted 25.06,25 C. Brooks M. Gumbs EftoTe¢h MCIPHE RP Co-opted and Observer Specialists to the Board of Trustees P. Thom FCIPHE FRSA fcIM AIGEM M. BrSdges EngTeth 14CEPHE KP Honorary Company Secretary C. Brooks President J. Clark EiigTech FCIPHE RP appointed 25.06.25 Y. Orglll {Immediate Past President) from 25.06.25 Chief Executive Offiter Kevin Wellinan EngToch FCIPHE RP Auditors ClemencÈ Hoar Cummlngs Chartered Accountants Riverside House, 1 - 5 Como Street Romford Essex RM7 7DN Solicitors Pennlngtons Manches Cooper LLP 31 Chertsey Street Guildford Surrey GUI 4HD Bankers Barclays Bank PLC Knightsbrldge &usiness Centre Page 2
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRusfEES FOR THE YEAR ENDED 31ST DECEMBER 2025 PO Box 32014 London NWI 2ZG Investment Advisors Cazenove Capltal Schroder Co. UmSted l London Wall Place London EC2Y SAU STRUCTURE, GOVERNANCE AND MANAGEMENT Gowerning document The Chartered Institute of Plumbing and Heating Englneerlng Is a company Incorporated by Royal Charter. granted on 12th February 2008. It is a reglstered tharity, oblalning charllable slaLus on 16 June 2008. The Instltute is governed by its Royal Charter and 8ye-Laws. The Bye-Laws and Regulations are under constant revlew and were last updated in June 2025. Future amendments wlll be carried out when necessary. Recruitment and appointment of new Trustees Applic3tions for Tru5leeship are sought by advert(sement, Inductlon and trainlng of new Ttustees After appointment, an Inductlon Is arranged for new Trustees. Trustees serve up to a four-year period and may be re-elected for B fvrther four-year period (effective from 2018). The Trustees meet at least rive times a year to review the strategy and perft>rm3nce and to set the operating plans and budgets. Or9anisational structure There are commlttees coverlng memb@rshlp, professlonal standards, technlcal servlces, Educatlon and Investments. The Chlef Execullve Officer Is appointed by the Tru5lees to manage the day-to-day opertIonS of the Jnstltute. Related parties The Institute is the registered owner of IOOOk of the Issued capltal of Plumbing and Heatlng Promotions mited, which became dormant in 2022. The Institute is also the registered owtier of loo of the issued share capttal of Greellplumb Limited and SafePlumb Llmlted, whlch have remalned dormant sSnce thelr respectlve Incorporatlon. Rlsk mattagement The Trustees have introdÈtced a fomièl risk management process to assess business risks and Impleme*it risk management strategles. The Trustees are pleased to report that the chailty's Internal financial Controls, In partlcular, conform to guldelines issued by the Charity Commission. The Trustees are lullv cognisant of thelr responsibility to evaluate and manage buslness rlsk, which they classlfled as.. Governance and Management b. Operaknonal Risks c. Financial Rlsk d. Environmental and External Factors Compliance f. Other Rlsks not classlflable under the above headlngs. The Executlve team discuss and rate business risks as they are identlfled. On-going monitoring and updates on risk management are undertaken tlirough reports provided by the Chief Executive Officer. OBJECTIVES Th& Purpose of Ihe CIPHE Is Lo enhance Lhe safelyp healL.h and wellbeino of the publlc through a stron9 qualifled membershlp relnfoi'ced by thelr competency and technlcal expertise. The Misston of ilTre CIPHE Is to operate as an Independent lechnlcal and professlonal focal point and be a catalysl for the plumbiiig and heating industry by providing Lechnical and professional standards, expertlse, education and t@chnlcal Innovallon to the operatlves wlthln Its scope. Page 3
THE CHARTERED INSTTTUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 The Vision of the CIPHE is to create technical excellence through which the public wlll recelve the beneflt of a protected environment and enhanced sustainability together with improved 5ofety and heallh through the provision of correctly installed, commissioned, maintained and decomrnissioned plumbin9 and heatlng systems. The aims of the CIPHE are summarfsed Sn four areas In the followlng graphlc: CIPHE MEMBERS Educatlon Strategie Pla The Strategic Plan is fully reviewed each year. The Board approved the 2025 - 27 Strategic Plan, whlch contlnues to focus on a number of the key activltSes In support of Sts role as the Chartered body for the plumbing and heating industry. Our strategy focusses on hamessing the considerable expertlse available wlthln the CTPHE, our mÉmbei'shlp and our Industry colleagues. Together we work to promote best practice, create traSnlng opportunities, and enhance educatlon withSn the plumblng and heatlng Industry. To further safeguard public interest, especially for the vulnerable, ènd encourage safety within all bulldlngs, an object of the CIPHE is to double membershlp whlch ultlmately wlll lead to a safer environment and help to outlaw rogue installers. The Strategic Plan 15 underplnned by a manlfesto summarising key activities which is promoted to government, consumers and the Industi'y, The CIPHE'S prime aSm Is to advance for thÈ beneflt of the publlc the sclence, practlce and principles of plumbiTrg and heating engineering and in exerclslng Its responsibilities to sallsfy the requirements of the Charlly Commission. It fulfils its objectives through several actlvltles. A summary of these and key achlevements follows.. ACTIVITIES AND ACHIEVEMENTS Public Benefit Public benefit is derived from the activities set out below pèrtitularly In ralslng the safety, health and envlronmental aspects of plumblng and heating englneerlng In the perceptlon of the publSc. Consum The Institute contlnues to provlde support to members of the public thmugh telephone enqulries and through publlcation of artlcles in consumÈr magazlnes. In addltion, It promotes the Find a Professional listing which is available through the CIPHE webslte. In 2024 It was declded that the Institute would develop 3 model that increased the number of buslnesses listing vla the online business directory. It was subsÈquently agreed that from Isl January 2025. thei"e would be two types of listSng avallable the long- standlng paid-for premium service (including further enhancement51 and a further orne that was Sncluded within the standard membership lee. Building Safety Advlsory Panel CIPHE contlnues to support the Bulldlng Safely Advlsory Panel IBSAP). This was formerly Working Group 2 that was instlgated after the Gronfell Tower Flre. The Conslruction Page 4
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 Leader5hlp Council {CLCI is championing and Supporting the dellvery ol safe and high-quality bulldings for those who live and work in them. ces Skllls A EBSSA CIPHE Is pleased to be proactively Snvolved wilh E85SA whlch was convened by Actuate UK members together with other leading Sector bodles, such as BEAMA, TICA and the standèrds organisation MCS, to provlde a credlble authorltatlve voice for skllls acros5 all englneering and building services. The key objectlves of thls coalition are to provide analysis based on transparent data on the sector skllls demand and supply, and utlllse thls evldence to hlghllght needs, educate. Influence policy makers and provider5 to close the 5ki115 £hnrtage. gap_4 with measurahle. intp.rvEntioTrs. EB5SA is involved in the Super Sector Working Group, pèrt of wlder Industry and government efforts to 'raise the bar. on individual competence within the built environment in line wlth the new post-Grenfell competoi)co reglme estèblished by the Bullding Safety Act. al Academ CIPHE continues to suppoi"I the RAEng and regularly promotes the need for Improvement5 In educatlon and licensing. RAEng hosts meeting5 Wlth Professional Engineering Institutes and the Englneering Council {EC). At the Tllter*m Professlonal Englneerlng Commlttee meeting on 10th FÈbru3ry, thE CIPHE updated attendees of the progress made In developing Level 2 and Level 3 Standards for plumblng and hèating apprentlceshlps, for whleh aLLendees offered messages af support. CIPHE enjoyed a much-incre6sed engagement wllh numerous government departments includ(ng. Skllls England (previously IfATE), DESNZ, the Buildiag Safety Regulatar ènd Defra. Defra has relterated its desire te introduce a Mandatory Water Labelling Eflleleney Scheme and anticlpales Ihls wlll be In 2026. There is increasing concem about the lack of knowledge within the industry regardlng water efficSency. CIPHE was Invlied to ctsmment on a ConstsStatlon reviewing the Water Efftciency Standards in Buildlng Regulatlons. In Its response attention was given to mandatory trainlng and licensing. During the year Lhe CEO had separate meeting5 Wlth Barone55 Wendy Alexander 6nd Tom Collin5 Member of Parliament for Worcestershlre. There is growing concei"n about shortfalls In skllls and educatlon as well as Increaslngly poor standards of plumbing installations. DESNZ held workshops durlng the year to ascertaln how improvements can be made for consutners requiring heat pump installation5. DESNZ ts keen that standard Installatlons can be completed within two days. Zer CIPHE contlnues to promote Its Home Heatlng Gulde. whSch explalns the various Net Zero technologles In further detail. It was mode available tts publlt and Industry allke through the website. The Institute continues to encourage the governmeiit to introduce licen51n9 mandatory training Lo all Involved with plumblng and net zero activities. There Ss greater demand for new short tralnlng course which Can be funded through the Skllls Bootcam run through the FE sector. Wlnd50r Forest Groupi Langley have funded a 5-day short coursE on the Introductlon of HVAC to upskill exlstlng Englneers who work on this area bul not neces5arÈly have the knowledge. Due to the introduction of Awaab'5 Low In October 2025, we are also seeing requests for trainimg in damp and mould prevention and ¢ompllance with Awa3b's Law. Those two new short courses w511 be available from early in 2D26. Page 5
THE CNARTERED INSTITUTE OF PLUMBING & HEATING ENGINÉERING REPORT OF THE TRUSTEES FOR THE YEAR ENfJED 31ST DECEMBÈR 2025 rentic Fallowiiig recelpt of the formal request from IfATE (the Institute for Apprenticeships & Technital Educarionl CIPHE commenced the development of Level 2 and Level 3 apprentice5hlp Standards. Work has progressed well throughout the ypar and is gning well wlth a tBrgeted launch in advance of the September 2026 educatlon cèlendar. IfATE was succeeded by Skllls Engl6nd whlch hès commended the engagement Trwith the Plumblng Employer's Trailblazer Groupp Awarding Organisations, End Point Assessment Oryanis3tlOn5 and college51independ@nl tralnlng centres. Some Ofganlsatlons have criticÈsed pprentlceshlp reforms however,. feedback recelved from govemment is that the CIPHE'g approach to the new apprenceshIp Is Bn exemplar for others. Thanks must go to all those Involved in its development. Ister of pl er The Worshlpful Coimpany of Plumbers establlshed the Register, whlch gives the publ1¢ access to quallfled plumbers, In 1886. It helps protect publlc health and safety and promotes the competence and conduct of good plumbers. In 1909, ihe Company handed over day-to-d&y management of Sts RÉglster to the National Council for the Registration of Plumbers, which. in 1953. was renamed the Reglstered Plumbers Association. When the Association amalgamared wlth the Institute of Plumblng in 1970, the Worshlpful Company relSnquished the Register and 3ward of the deslonatlon "Registered plumber" to the new InsbtutÈ. As at 31st December 2025, 70,512 indivlduals had been entered onto the Register. The Register OF Plumber5 Is malntalned In tlie Membership Department and Is avallable for Inspection by ny member of the publlc by appointmertt. ister of lona15 - Publ- Slnce its launch in January 2010, 899 members have been entered on to the Keglster of Heating Professionals. Public Re ister The C.TPkll r.ontinuÉd It% InvDlvement with Watersafe whose oblectlves are to contrlbute to the safety of drinklng water suppllos and protectlon of customers, by.. Bringing together water induslry and plumblng assDciations' Approved Contrartcrs, Sd¥eme5. Promoting good plumblng practlce and coillpliance with the WBter Supply {W3ter Flttlngs) Regulations and Scottish WBter Byelaws. Providing easy access to online sÈarth faclllty listing approved and competent plumbing businesses. Reducing the risk lo drlnklng water supplies from poor plumbing practi The number of Watersafe reglstered members of CIPHE increased by 14% from 396 to 452 in 2025, I1,1 of a total 4,081 Approved Plumbers registered with the scheme. Watersafe contributes toward5 public health by helplng consumers to protect their drlnklng water and avold rogue traders by ¢flerSng them an accessible online directory OF qtjalifled plumbers. During the year water company approved Installer schemes joined forces wlth WIAPS resultlng on one water Industry scheme wlth CIPHE, SNIPEF and APHC providing plumbing industry representation. It was agreed during a strategy day that greater emphasls wlll be put ort the campaign for registi"atlon. Tra CIPHE CDntlnues to collaborate wlth Which? Trusted Trader to promoto poslllve consumer faclng messaglng regarding the plumblng and heatlng Industry and provides a platform for thom to communlcate with member5 through the membership beneflts and Seice$ gulde and resources. In 2025, this included a lolnt webinar wlth Which Trusted Trader ar)d Powered Now offering bu5ine55 development 5UPPQrt for members. Page 6
THE CHARTERED INSTITUTE OF PLUMBING & HEATJNG ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 The manifestro continues to be publlshed on an annual basls. It was distr4buted wldely durlng the year and continues to be recelved ftdvourably, especially by the trade press. Covering key Issues such as the health. safety and welfare of the publlc, the environment, education, regulatlon and Ilcenclng, the CIPHE'S manifesto 5its the plutnblng 6nd heatqng Industry at the centre of key areas of Government policy, such as health, education, hovsiTrg J energy and the envlronment. The four main pillar5 of the manifesto deal wlth Skllls Development. Supply & Conservatlon, Sustalnablllty and Safeguarding the Publlc. The CIPHE continues Its calls for greater levels of communication between government and organisations such as the CEPHE to establlsh long-torm slrategles whlch wlll combat the fuel poverty epidemlc. The crpHE and its membership Is dedlcated to safeguarding the most vulnerBble 50cietVi and that includes those Ilvlng In fvel poverty. With continued volati1Sty surroundlng fuel prices ihere 15 increasing concern that many more people will enter Into fuel poverty. The G(Fve¥nment must seek to protect these petsple,. only by work5ng together can we stop the unnecessary and highly preventable deaths attrlbtttable to this 155ue. sumers throu istration Authorit The Institute has a duty to investigate complaints that allege a member has not complied with the Code of Profe5510nal Standards to act professioiiallyi competently and re5pon£ibly. Upon notlflcatlon of such complaints, the complainant Ss requlred to complete a form. which is then submltted to the Jnve5tigotio Panel (IPI to proceed further. During 2025, the Panel Investlgated 7 complaints. referring 3 to the Dlsclpllnary Commlttee. The D15uplinary Commlltee Impose sanctloljs on members when a complalnt agaiiist them hag been upheld. Durlng 2025, 2 members were removed from membershlp for falllng to adhere to the Code of Profe55ional Standards Educatyon The career pathways flowchart will be updated In 2026 to match the VISiOnS made to the plumbing and heating apprenticeships at levÈl 2 and 3. The Approved Tralnlng Centres Increased to 74 durlng the year. nal Develo men With 2026 belng the year for the World Plumbing Councll Conference, held alongslde the largest plumbing and heating show In June each year at the NEC, Installershow, we are focuslng on showcasing World Skills at the show with a lÈgacy for the reuse of the materials. We also support the Heallng Insialler of the Year Awards and thE new Plumber of Ihe Year Awards that hold a review and celebrate bt practlce for ex1.%ng Installers, celebrated at Lnstallershow. Lattedy, WÈ were agaln asked to judge the PHAM New5 Energy Efflclency Awards held in London lor their successes In deslgnlng energy efflclent heatlng and hot water systems across the UK. Langley College have used our servlce for training learners on Water Regulatlons, G 3 hol water systems and the new HVAC sy5tem5 5horL course. These courses 3re part of the SkÉlls eootcamps. din neerin CIPHE was Invlted by City & Gullds to partake In the 8ulldlng Servlces Engineerlng Employer Industry Board along wlth Industry experts and employers to ensure the skills employers need are met for a more productr¢ve workforce. Our represenLation is through the Employer Industry Board IEIBI whlch forms part of thts group. The EIB comprfses of employers, professlgDal budie5 and ather sector oryanlsations who collaborate to ensure that edvcètional services are fit for purpose. Page 7
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 The contract for the T Levels has changed hands from City and Guilds to EALIWjec. They are revising the structure of the pBthways by combining plumbing and heating as one. The review work has been completed, and the relaunch will take place In 2026. CIPHE'S Technical team responded to a DFE survey that will lead to a review of the 16119 provlslon. Ouring d15CU55ions CIPHE gave Its support to the proposed chaTrges. A requirement of the Code of Professional Standards is that members should undertake CPD to broaden and mèlntaln their knowledge ènd the CIPHE recommends that members should undertake 30 hours of CPD on an annual basls. The Institute dellvers many ways by whlch members can earn CPD hours, including via CPD articles in P&H Engineerlng magazine. The CIPHE Academy attrarted 775 registered users and 432 completed course5, Wlth a further 146 courses in progress by year-end. Numberof registratlons Number of courses 775 J 183 Number of courses completed Numberof courses In progress 432 To assist with monitoring CPD, the CIPHE supports mycareerpath@, which Is an online professlonal development system, desSgned by the Engineering Council and adopted by many professional engineering Institutions lor use by thelr mornbers. The CIPHE digital project 15 incorporating techtalk@ and smarttalkQ content, provldlng informed technlcal and professlonal eijucatlon and training across a range of subjects. The vldeo content has collectively had more than 70,000 views to date. The CIPHE Plumbing Engineering Services Design Guide has been made freely available online for members and work to update the Guide 5ectSon by sectlon continues. A website for the member magazine, P&H Engineerlng, Ss accesslble at www.pandhenglneerlng.co.uk. roved Tral entres The CIPHE has continued to prornote Its revised Approved Trainlng Cenlre model that Includes membei'ship for the trainers and access to digitsl training tools that have been developed too. Page 8
THE CHARYERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31ST DECEMBER 2025 The following colleges Jolned the Institute a5 Approved Trarnlng Centre5 IATC) Ito 2025- BAXI Traimlng B3riifield College Bolton College Chè.%hlrÈ c.ollege South & West Cornwall College St Austell DN College5 Group Isle of Wlght College Klrklees College oaklands College Smart Gas Tralnlng & Assessment Centre South Staffordshire College Industry Engagement Workin In Partnershi The CIPHE relnforced Its educatloftal collaboratlon durlng the yèar by slgnlng an agreement wlth the Clty & Gullds of London Institute. This landmark agreement brlngs together two recognised leaders in vocatlonal training and professional standards to tackle critical wod(force challenges facing the sectoi-. The partnershlp will enhance training qualltyl expand educattronal acce55, and future-proof the workforce through Innovative joint initlatives. A MemorÈndum was Signed between CIPHE and IAPMO Ilnternatlonal Assoclatlon of Plumblng and Mech2nlcal Offlclals). CIPHE and IAPMO share Ilkemlnded goals of protecting public health, and safety and wellbelno through Increaslng fit for purpose educauon, promoting susiainabillty, and supporting rearch and technological advancements. Both organi5atlons will cooperate to develop programmes focused ort Educatlon, Sustainability. Water Efficlencyi LDW Temperature Heatingi Venlil3tion & Cooling Technologyi Resear£h, aad Membershlp. In October the Presldent. on behalf of the CIPHE signed an Mou with the International Valves and Taps Alllance In Mllan. The MOU emerged from a shared recognltlon of the need to glve a unifled and coherent voice to the common prlorltles of the global valves and tbps Industry, This document represents an iniportant step towards closer collaboratlon among the leadlng assoclatlons In the sector globally. Et is intended to offer concrete support to the advoc6cy and repre5e#tatlon actlvitles carrled out by each org3nlsatlon at the national or regional level serving as an aUthorItaVe point of reference for dralogue with ISlIktIonS and governments. It is anticipated that more Agreements and Mou's wlll be formulated between UK Awardlng Organisation5 and overseas oroanlsatlons. CIPHE continues to support the Worfd Plumblng CoEEllcII, the CEO is DepuEy Chalr. The conference being held alollgside the InstallÈrSHOW at Blmilngham's NEC belween 23rd-25th June 2026 Is attractlng considerable Interest. SDme 50 speakers aiid paiiellists have been confirmed. In additlon to the conference there wlll be a skills competitlon whlch Is antlclpated to achleve partlclpatlon fi'om 10 countrles. Council CIC CIPHE contlnues to support the CIC whlch Is an umbrella body for the 8uilt Environment prolesslons with 35 Membeis and 20 Associate. member.£ CDl1eEV2lV represÈntlng over 500,000 people and several thousaEEd buslne55e5. Duiing the year the CJC ha5 engtiovd wlth industry and government departments to make the construction indu5ti'y a safer place. The CIC has been proactively 5nvolved In pi'tsmoting 'The Slngle CoE)struction Regulator Prospectus, consultation which will c105e in Marcl) 2026. The outcome could be pivotal In the governmonl's future policy toward lÉcenslng. Suffice to say many hundreds of responses to the consultatlon are anlicipaLed. Page 9
CJPHE ¢ontlnuÈs to partner wlth IAS on a range of projects. There will be another 3D heating system launch ol a heat pump system in early 2026 with greater interaction lor the learner and trainer, this will also be revised Sn the Ilrst verslon of a heat-only system from 2025. We have hosted many weblnars In 2025 for manufacturers, one in partlcular was a tralnlng sesslon for Danfoss Controls Staff on the impact on Awaab'5 Law and how thelr team might increase 5ale5 of monltoring equipment for damp and mouldlair quallty. Vislts to manufaclurers sites has also been on the increase as well as Inviting them along on college vi51ts to share PreSentaonS and knowledge RESEARCH & TECHNICAL Technical Strategy Group The TechnScal Strategy Group ITSGI operate5 as an independent technlcal and professional focal point and aims to be an authority to the plumblng and heating industry by provldlng technical standards, guidance, expertlsè and educatlon & technical innovation. It achieves thls through the appointment of Technical Working Groups,. the following Groups have been established.. Water Safetyi Heètlng,. CanLrols, Hot and Cold Water Servlces and Above & Below Ground Drainage. In addition to thSs, the CIPHE has engaged In a wlde variety of technical industry group meetings ensurlng both the installer and consumer are belng represented correctly. This included revislon5 to the bulldlng regulatlons and other matter5 associated wlth both water safety and the future of heat In buildings. The Heating Sectlon was successfully completed In December and Is avallable to purchase dlrect from the new Head Office. The tochnlcal team also completed the first Interactlve 3D learnlng support model wlth more to follow In 2026. A CPD ventllatlon course w3s developed for Langley College and In 2026 courses on Awaabs Law and public health will be completed. MEMBERSHIP & PROMOTION Membership and Engineering Council The total membershlp as at 31st December 2025 was 7,406. Membership breakdown by category IDec 2025) Membership by category Tfal 'JE-.I Cotnpènion Ember Page 10
THE CHARTERED INSTITUTE OF PLUMBING & HEATJNG ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 At Lhe end of 2025, ACIPHE, MCIPHE and FCIPHE together totalled 72% of CIPHE membershlp ApplScatlon breakdown by category 2025 New membeis bycalegory- 2025 Appio¥edTralDln8Centie MenibEr Comp4nlo 56% 21 114t Throughout 2025, ACIPHE, MCIPHE and FCIPHE lotalled 38% of membershSp appllcatlons received Durlng 2025, 13 Mebe[S were newly registered at EngTech level, 2 at IEng level and l at CEng level. As at the end of 2025, the Institute had 606 Englneering Technicians, 64 Incorporated Engineer5 and 24 Chartered Englneers. Master Plumber Certlficate on Monday 3rd March 2025, the Master Certificate Awards for Construction Liverfes were held at the Egyptlan Hall, Mansion House hosted by Lord Mayor Elect Alderman Alast3ir King. Don 8arron FCIPHE RP, Donald Lack FCIPHE RP, Louchavan Lemard Eng Tech, MCIPHE, RP and Slmon Love Eng Tech MCIPHE RP were presented wlth thelr Master Plumber Certlllcates, Bnd Ollie Salmon ACIPHE wa5 prÈsÈnted wlth his Journeyman Certlficate. Plumbing Profession31$ Development Scheme 2025 marked the second year of the CIPHE and Worshlpful Company of Plumbers, Plumbing Professional Development Scheme IPPDSI, with a further eight high-potential mombers loinlng the programme. The scheme continues to provide structured development beyond technical tralnlng, offering networking opportunities, tnentorlng support, and guidance towards advanced stage5 of professlonal registraLion and Tecognition. Its focus rÈmalns on developing not only technical competence, but also professionalism. communlcatlon, leader5hlp, and a strong sense of publlc re5ponslblllty within the professS0n. Page 11
THE CHARTERED INSTITUTE OF PLUMBXNG & HEATING ENGINEERJNG REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 A significant mllestone thls year was the partnership with the Dolma Foundation, through whlch four PPDS members travelled to Nepal to deliver a gravity-fed water supply system to a remote Himalayan village. The project provided safe, rellable water te a community with Ilmited access, while also giving our tnembers Invaluable experience In collaboratlon, reslllence and communlty engagemenl In a challenglng environment. This inltiative was made posslble through the generous sponsorshlp of InstallerSHOW {Nlneteen Groupl, Intergas Heatingi Mark Vitow, and Catchpole & Rye. We are a150 grateful lor a valued donation from the city & Gullds Foundation, whose support contributed meaningfully to the successful delivery of the project. Exhibit10115 The CIPHE began the year at Get Inspired Basing5toke, a careers event for secondary school students, promoting industry awareness, career pathways and salary expectètlons, CIPHE'S 3nnual presence at InstallerSHOW featured its largest Stand to date. The Institute ran a jolnt competition, supported by Industrial A550ciate members, to drive footfall to both CIPHE and member stands. CIPHE also took part in panel disCU55ions and speaker sessions. contributed ro presentatlons, and supported judglng for the Heating Installer of the Year Award. CIPHE attended the flrst elementalLONDON exhibition at ExCeL London, Largeting 5peciflers and construction professionals, while alsa oxhlblting al the inaugural InstallerFegtSval In a neighbouring hall. Across all events In 2a25, CIPHE achieved Strong vlslblllty, generated new members and strengthened relationships atross the industry. Promotional Campaigns and Media The CIPHE has been 5upportÈd by a wlde range of trade and Consumer titles as it has raised 155ues ranging from plumbing educalion and tralning to the industry skills crlsls and from the Future Home5 Standard lo water sector reform. CIPHE galned wide coverage, including in the Dally Mail and Mail Online as It shone a spolllghl on rogue trainer5 and rogue trainlng courses. HPM fflallonline FEWEEK I'ODAY Healing& PlumblThB t.fG14THLY Ineer installer bhe SPE PHPI SPE8, FIX,RADIO rn BUILDER MEP source Professional THI DUILryRSSTATIOF4 Page 12
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECENBER 2025 Website stattstits CIPHE web trafflc has decllned compare(J to 2024, but the numbEr of page5 Visited and average lengih of time spent on the webslte have both Increased.. site u5ers.' 31,484 Sessions.. 54,969 Se5SIDnS per user,. 1.75 Page views.. 182,511 Pages per sesslon.. 5.8 Average engagement time per user.. 02'.45 In addltlon, during 202S, the following transactlons took place through Ihe webslte.. 230 people jolned onllnÈ total value of £38.510 590 shop orders placEd - total value OF £23,853 1,829 membershlp renewal payments made onllne - total value of £325,342 Soclal Medla CTPHE Is active across Its key soclal media platforms, focusing on Llnkedln, Facebook and Instagram. By the end of 2025, follower numbers acr05S these priority channels were a5 follows.. Linkedln,. 6,839113% In¢rease) Facebook.. 3,136 11% Introasel Instagra¢M', 1,228 1720/ts increasÈl These figures demonstrate contlnued growth across all platfomis, with particularly strong perfoTFnance on Instagram, rÈflecllng Increased engagement and reach with i)ew and exlstlng audiences. Annual General Meeting The 17th AGM of CIPHE was held on Wednesday 25th June. The AGM wa5 held at the NEC, Blrmlngham and was also conducted via Zoom Conference FacllStles. In excess of 37 members partlcipated woridwldo to see Ja50n Clark take ofliie as National PrÈsidÉnl and Paul Daley a5 Vice-Pre5ident. Geoff Westall was elected as Votlng Member Trustee to serve on the Board for another 4 years. Head Offlce relocatlon Slnce Lhe salo of Station Lane In 2024 CIPHE Enoved to temporary accommodatlon Sn a mhnaged service office Chelmsford. It was always the intention to purchase freehold premise5 and afEer vlewlng many properties in Essex a new home was found at the 3 Capricorn Ceiiti"e, Cranes F6rffl Rtsad, Baslldan, Essex SS14 3JA. Following 3 refulshment programme Ihe team moved into the offlce at the end ol the year, FINANCIAL REVIEW Reserves pollcy The Trustees regularly revlew the resetves of Ihe charlty to meet its financEal commltments and achleve Its objectives. They consider that the charity had sufficient reserves to operate for the next 12 months and into the foreseeable future. The prime objectlve of the reserves pol(cy of the Trustees is tts maxlmlse CIPHE surplus funds whlch are held in 6 range. of Interest bearlng bank accounts. In partleular the General Fund is lllvested wlth due regard to potenttal calls on the ftsnd ès Identlfled in the Strategic Plan. Investment policy and objectives The Institute has the power lo make any investment thèt the Trustees see fit. Following completlon of tlie purchase of the Institute's Head Office, the Trustees have agreed to move further funds arfsSng from the sale of its previou5 fveehold pr(kperty to the longer-term portfolio. The InveStent objectlve Ss to produce the best investtnent return wlthln an accepLable level af rlsk. The Jnveslment Commiltee regularly conslders the Institute's Investments wlth Cazenove and reports to the Trustees. Page 13
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING REPOKT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2025 STATEMENT OF TRUSTEES. RÈSPONSXBILITIES The trustees (who are also the dlrectors ol The Chartered Instltute of Plumbing & Heating Engineering for the purposes of company lawl are responslble for preparing the Annual Report and the finhnrial statements accordance with applicable law and United Kingdom Accountlng Standards Iunlted Klngdom Generally Accepted Accounting Practlcel including Financial Reporting Standard 102 "The Financial Reportinij Standard appllcable the UK and Republic of Ireland" Company la%v require5 the trusleÉs to prÈpare financI31 statements for each financial year. Under that law, the trustees have elected to prepare the financlal statonienls In accordance wlth United Kingdom Generally Accepted Accounting Practice {United Kingdom Accountlng Standards and appllcable lawl. Under company law tho truslccs must not approve the financlal statetnent5 unle5S they are satisfled that they give a true and falr vlew of the state of 3ffairs of the charltable company and of the Incomlng resources and applicatlon of resources, Includlng the income and expendlture, of the char¢toble company for thaL period. In preparin9 those financial 5t6temenls, the truslees are reqkSlred to select suitable accountlng polictes and then apply them consistently,. observe the methods and prlnclpl@s In the Charities SORP,. make judgements and estlmates that are reasonable and prudent: prepai'e the flnanclal statements on the going concern basis unless It is inappropriate to presume that the charitable company wlll coJ)tlnue In buslness. The trustees are re5ponslble for keepltlg proper accauriting retords whlch dlsclose wlth reasonable accuracy at any tSme the financSal position of the charitable company and to enable them to ensure that the financial Statements comply wlth the Campanies Act 2006. They are also responsible for safeguardlng the assets of the charitable company and hÈnce for laklng reasonable step5 for the preventlon and detection of fraud and other irregularitles. In so far a5 the trustees are aware.. the Is no relevant audit information of whlch the charitable company's auditors are unaware., and the trustee5 have taken all steps that they ought to have taken to make themselves aware of any relevant audit Informatlon and to establish that the audltors are aware of that information. AUDifoRS The auditors, Clemence Hoar Curnmings, will be proposed for re-appolntment at the fothcoming Annual General Meetlng. Approved by order of the board ol trustees on by.. 29th April 2026 and slgned on Its behalf By order af the board C Brooks - Secretary Page 14
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CHARTERED INSTITUTE OF PLUMBING & HÈATING ENGINEÉRING Opiniort We have audited the financlal statements of The Chartered Instltute of Plumblng & Heating Engineering {Lhe 'charitable compaiiy'l for the year ended 31st December 2025 which comprise the Statement of Flnanclal Activlties, the 8alance Sheet, the Cash Flow Statement and notes to the flnènclal statements, Intludlng a .%ummary of slgnlflcant actauntlng ptslitles. ThÈ finantlal r@portln4J frramÈwork Ihat ha% been applied in their preparation 15 appll£able law and Llnlted Kingdom Accountlng Standard5 (United Kln9dom Generally Accepted Accountlng Practice), includlng Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial slatements.. glve a true and falr vlew ol the state ¢f the charitable company's offalrs as at 31st gecember 2025 and of its incotning resources and application of resources, including it5 income and expenijlture, for the year then ended,. have been propedy prepared in accordance w>th United Kinqdom Generally Accepted Accounting Practlce, including Financial Reporting Standard 102 'The Financlal Reporting Standard applicable in IhÈ UK and Republlc of freland,; and have been prepared in accordance wlth the requlrements of the Companies Act 2006. Basis for opin40n We con(Jucted our auijlt In accordance wlth International Standards on Audlting IUKI IISAS (UKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditors, responslbilitles for the audit of the flnancfal statements sectlon of our report. We are independent of the charlt3ble ttsmpany In attardance with the othlcal requlrements thal are relevant to our audlt Df the linanclal staterTrénts In the UK, Includlng the FRC'S Ethlcal Standard, and the pravlslons available for small entlties, In the clrcumstances set out in note 23 to the flnanclal statements, and we have fulfllled our other ethical responsibilities in accordan with these requirements. We believe thèt the audit evldence we have obtalned is sufflclent and approprlate to provlde a basls for our opinion. Conclu$ion$ relating to going concern In 6uditlng the Ananclal stalements, we have concluded that the trustees, use of the golng concern basls of 3ccaunting in Ihe preparation of the financial 51alementS Is appmpriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or condltlons that, IndivldLSally or collectlvely, may cast signlficant doubt on the charltable company's abillty to contlnue as a golng concern for a period of at least twelve months from when the finandal statements are authorlsed for Issue. Our responsibilities the re5ponsibillties of the trustees wlth respect to golng concern are descrlbed In the relevant sectlons ol thls report. Other informatian The trustees are responslble for the other Informatlon. The other informatlon comprlses the Informatlon Included in the Annual Report, other than the financial statements and our Reporl of the Independent Auditors thereon. Our opinloll on the financl81 statements does not cover the other information and, except to the extent otherwlse explicltly stated in our report. we do not express any form of assuran conclusion thereon. In connection with our audit of the fintntlal stttements, our rÈsponslblllty Is to read the other Informatlon and, In dolng so, conslder whether the other infDrmatlotTr is materially Inconslstent wlth Lhe flnancial statements or our knowledge obtained In the audlt or otherwlse appears to be materlally mlsstated. If we Identify such material inconsistencie5 or appèfent material m155titements, we are required tts determine whether this gives rlse to a material mlsstaternent In the flFtancial statement5 themselves. If, based on the work we have performed. we conclude that there is a material misstatement ol this other Informatlon, we are requlred to report that fact. We have nothirÈg to report i¥t this regard. Page IS
REPORT OF THE INDEPENDENT AUDifoRS TO THE TRUSTEES OF THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINÉERING Matters on which we are required to report by exceptlon We have nothing to report respecl of the followlng matters where the ChatI (Accounts and Reports) Regulations 2008 requires us to report lu you If, in our opinion.. the Informatlon given irs the Report of the Trustees Is inconsistent In any materlal respect with the Ilnanclal ststements,. or the charStable CQFnpany ha5 not kept adequate accountlng records; or the financlal statements are nor In agreement wlth the accountlng records and returns,. Dr we have not received a11 the informatlon and explanètlons we require for our audit. Responsibilltles of trLEStees As explalned Inore fully In the Statement of Trustee5' Responsibtlities, the trustees (who are also the directors of the charStable company for Ihe purposes of company lawl are responsible for the prÈparatlon of the financial statements and for belng satisfied that thpy glve a true and fair vlew, and for such inlernal control as the trustees determine Is necessary to enable Lh8 preparation of financlal statements that are free from mateAal mlsstatement, whether due to fraud or error. In preparing the financlal statements, the truslee5 are responslble for assessing the charitable company'5 ability to continue as a going concern, discloslng, as applicable, malters related to going concern and using Lhe golng concern basis of accounting unless the trustees either intend to liquldate the charftable compan¥ or to cease operatlDns, or have no reallstlc alternalive but to do so. Our vesponsibilities for thè audit of the financial st)temenis We have been appolnted as audltors under Section 144 of the CharAties Act 2011 and report In ccordance with the. Att and relevant regulatlons made or havlng effect thereunder. Our objectives are to obtaln reasonable assurance about whether the financlal statements as a whole are free from rnaterial misstatement, whether due tt¥ fraud or error, and to 155ue a Report of the Independent Audltors that Includes our oplnion. Reasonable assurance Is a h5gh level of assurance, but is not a 9uarantee that an audit conducted In accordance with ISA5 {UK) will alway5 detect a materSal Misstatement when It exist5. Ml£statements can arlse from fraud or error and are considered material If, individually or in the aggregate, they could reasonably bp Èxpected to Influell the ecoftomlc de£15ions of users taken on Ihe basis of these financial statements. The extent to whlch our procedures are capable of detectlno Irregularitles, Including fraud is detalled below.. Irregularltles, Indudlng fraud, are InStanS of non-compliance wlth laws and regulBtltsns. We design procedures In line wlth our respansibilities, outlined above, to detect material mlsstatement5 in respect ol rregularltSes, including fraud. The exlent to whlth our procedures are Capable of detecting Irregularitles, Including fraud is detalled below.. We have de5ignÈd our work to ensure that laws and regulatlons have been adhered to, and the transacUons undertaken by the Charlty are properly reflected in the financlal statements. We de51gned procp.dures which included, but were not limlted to.. Agreeing financial statement dl%closures to undcrfylno supporting documentatS0n. Enquiring of management as to acLual and potential Iltl9ation and clalms. -we have obtalned a detailed understanding of the ChariLy's intemal control systems and we have used the knowledge galned to Idenllfy any areas of risk of mls-statemenL or fraud. To address the r5sk of fraud throvgh management blas and override of controls. we tosled journal entries to idelltify unusual transactions. Making enquirles of management as to where they consldered there was susceptlbllity to fraud. thelr knowledge of actL]al, suspected, and alleged fraud. Wè have evaltsated the appropriateness of accountlng policie5 used and rhe reasonableness of accountlng estlmates related disclosures made by the trustees, page 16
REPORT OFTHE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING We concluded on the approprlateness of the trustees, use of the golng concern bas15 of accounting and, based ott the audlt evidtnte obtained, whether a material uncertainty exlsts relaled to events or condilions that may cast slgnlficènt doubl on the charitable company's ability to conlinue as a going concern. If we conclude that a malerlal uncertalnty exlsts, we are required to draw httention in our auditor's report to the related d1_r.10£es In the financlal statements or. if such dlselosures are Inadeouate, to mod1fy our oplnlon. Our concluslons are based on the oudll evldence obtained up to the date uf our auditor's report. However, future events or condltions may cause the charitable company to cease to continue a5 a going toncern. We communicate with those char4Jed with governance regarding* among other matters, the planned scope and tlmlng of the audit and signllicant audlt flndlngs. including any slgniflcant deficiencie5 Ill Internal control that we Identify durlng our aucslt. We have theri deslgned our audlt tests in each area to identlfy whether In respeiL of Lhe transactions we have selected for testing the rÈlevant controls have operated as expected. We plan our work spcclflcally to identify any Hreas where there is a suscepllb111ty lo fraud such as understatement of subscription income, or material tlliS-Statement such as understatomont of subscriptSon5 received in advance, then design tests to mitigate this risk. Our work Includes a proof in total based on the tiered 5ubscrlptlon rales of membershlp, artd ellsurlng that the appropriate revenue ha5 been recognlsed. Because of the Inherent Ilmltations ol an audit, there is a rlsk that we will not detect all Irregu13rltles, Including those leading to a mateHal mSsslatement in the financial statements or nan-compllatTrce with regulation. Thls rlsk Increases the morÈ that compllance with a law or regulation Is removed from the events and transactions reflected in the flnanctal statements, as we wlll be l&ss likely to become aware of Instances of non-compliance. The risk is also greater regèrdÉng irregularilies occurring due to fraud rather than error, as fraud involvÈs intentlonal concealment, forgeryi colluslon, omlsslon or m15representation. A further description of our responsSbllltles for the audit of the financial statement5 Is located on the FFnancial Reportino Councll's webslte at www.frc.org.uklauditorsresponsibilities. Thls descrlptlon forms part of our Report of the Independent Audiltsrs. Use of our report ThiE report 1£ made solely to the charitable company'5 trustees, as a body, in 3ccordaTrce wlth Part 4 of the Charities IAccount9 and Reports) Regulatlons 2008. Our audlt work has been undertaken so that we might state to the charltablc company's trustees those matter5 we are required to state to therrt tn an audlLors' report and for no other putyose, To the fullest extent permitted by law, we do not accept or assume responslbility to anyone other than the charitable company and the charltable company's trustees as a bodyi for our 3udit work, for this reporl, or for the opinions we have formed. for and on behalf of Clemence Hoar Cummings Charterec5 Accountants and Statutory Audltor Ellglble to act as an auditor In terms of Section 1212 of the Companles Act 2006 Riverslde House 1-5 Como Street Romford Essex RN7 7DN Date.. Page 17
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Statement of Financial Activities FOR THE YEAR ENDED 31ST DECEMBER 2025 2025 Total funds 2024 Total runds Unrestrlcted funds Restrlcted funds Notes INCOME AND ENDOWMENTS FROM Charitable activitie5 Educational Maga%ines & Directory Nalntalning Professlonal Standards & Awareness 30.684 30,684 36,408 987,219 4,000 991,219 948,580 Other tradlng actlvltles Investment income other Income 233,740 62,448 233,740 62,448 167,293 51,168 219 253 Total 1 314 091 1 318 091 1 422 702 EXPENDITURE ON Raising funds 81,672 4,000 85,672 22,925 Charltable activStie$ Educational fvFagazines & Direclory Support Service5 for Members Malntaining Professional Standards & Awareness 401.352 346,625 401.352 346,625 391,590 3?3,002 538 284 538 284 505 457 Total 1 367 933 4 000 1 371 933 1 242 974 Net gains on investments 78.328 NET INCONE 24.486 24.486 187,611 RECONCILIATION OF FUNDS Total fund5 brought fonvard 1,74B.730 1,748,730 1,561,119 TOTAL FUNDS CARRIED FORWARD 1 773 216 1 773 216 1 748,730 The notes form part of these flnanclal statements Page 18
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Balance SheEt 31ST DECEMBER 2025 2025 Total funds 2024 Total funds Unrostricted funds Restricted ft&nds Notes FIXED ASSETS Intangible assets Tanglble 3ssets Investments 14 15 16 34,409 541,577 948 579 34,409 541.577 948 579 43,276 8,707 1 310 251 1,524,565 1,524,565 1,362,234 CURRENT ASSETS stocks Debt015 Cash at bank 17 18 8.117 107,296 533 515 8,117 107,296 533 $15 6,018 76,260 650 145 648,928 648,928 732,423 CREDITORS Amounts falling due witliin one year 19 {400.277) (400,277) 1345,9271 NET CURRENT ASSETS 248 651 248 651 386,496 TOTAL ASSETS LESS CURRENT LJABILITEES 1.773,216 1,773,216 1,748,730 NET ASSETS 1 773 216 1 773 216 1 748 730 FUNDS 21 Unrestricted fund5- General fund Revaluation Reserve 1,705,640 1,740,847 1 773 216 1 748 730 TOTAL FUNDS 1 773 216 1 748 730 The ch3rltable company is entitled to exemption from audlt under Se£tlon 477 of the compaleS Act 2006 lor the year ended 31st December 2025. The members hève not deposited noticei pur5Uant to Secuon 476 of the Companies Act 2006 roqulrÉng an audlt of these financlal sratements. The trustees acknowledge their responsibilitie5 for {al ensurlng that the charitable company keeps accountlng records that comply wlth Sectlons 386 and 387 of the Companles Art 2006 and preparing financlal statements which give è true and fair view of the state of affalrs ol tlie charitable company as at the end of each finanelal yeai. and of its sui'plus or deflclt for Èoch financi31 year In accordance with the requiremenl5 OF SectSons 394 and 395 and whlch otherwlse comply with the requlremenls of the Companies Act 2006 relaling lo Ilnanclal statement5, 50 fai" as applicable to the chaiitable tompany. (bl These financial statements have been audited under the reqtsirements of Section 145 of the Charlties Act 2011. Page 19
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERINfj Balance Sheet- contlnued 31ST DECEMBER 2025 These financial statements have been prepared in accordaEFce wlth the provlslans appllcable to charltab cump&nles subjett to the small companles reglme. Tho flnancial statements were approved by the 8oard of Trustees and authorlsed for Issue on 29th April 2026 nd were signed on Its behalf by: N R Jones- Trustee C Brooks - Trustee The notes form part of these financial statemettts Page 20
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Cash Flow Statement FOR THE YEAR ENDED 31ST DECEMBtR 2025 2025 2024 Notes Cash flows from operating activÉtie5 Cash getterated from operatlons Interest paid {21,521) 27 520) 125,8221 23 0091 Net cèsh used in operating activitie5 49 041) 48 8311 C?$h flows from irtvesting activities Purchase of intanolble fixed assets Purchase of tangible flxed assets Purchase tsf fixed asset Investments Sale of tangSble fixed asset5 Sale of fixed asset investments Interest received {9.810) (560.227) 146,2961 17,357) 11,302,365) 1,319,253 440,000 Plet cash (used in)Iprovlded by investlng acllvltles 67 589) 14,403 Change in cash and cash equivalent5 In the reportlng period Cash and eash equivalents at the beginning of the reportin9 period {IL6,630) 134,428) fj50 145 684,573 Cash and cash equivalents at the end of the reporting period 533 515 650 145 The notes form part of thesÈ flnancial staten)ents Page 21
THE CHARTÈRÈD INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Cash Flow Statement FOR THE YEAR ENDED 31ST DECEMBER 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Oepreciation ch3rge5 Gain on Investments Lossllprofitl on disposal of flxed assets Interest received Interest paid IIncrease}/clecrease ifi stoeks Increase In debtors Increase/(decreasel in creditor5 24,486 187.611 45,686 (78,328) 348 (62,448) 27,520 {2,099) (31,036) 58,096 17.8831 (219,2531 151,1681 23,009 2.615 {IS,2551 Net cash used in operation$ 21 521) 25 8221 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.25 Cash flow At 31.12.25 Net cash Cash at bank 650 145 116 630) 533 515 650 145 116 630) 533 515 rotal 650 145 116 630) 533 515 The r>otes form part of these financial statements Page 22
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes tl) the Financial StatqmentS FOR THE YEAR ENDED 31ST DECEM8ER 202S ACCOUNYING POLICIES Basis of prepar4ng the financ4al statemertts The financlal statements of IhÉ charitable comp3nyi which is a public benefit entity under FRS 102, have been prepared In accordance with Lhe Charitle5 SORP {FRS 1021 'Accountlng and Reportlng by Charltles.. Statement of Recommended Practice applicable to charltles preparing thelr accounts in accordance wlth the Financial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021 (effective l January 2019}', Financlal Reportlng Standard 102 'The Finat*cial Reportlng Standard appltcable in the UK and Republic ol Ereland, and the Companies Act 2006. The fir)ancial statements have been prepared under the historical cost convention, wlth the exptIOn of Investments whSch are Included at market V21ue, as modlfied by the revaluatlon of certaln assets. The Services provided by the charity are (Jetalled In the Feport of the Tru5tee5 in order io beneftt the general public. Income All income is recognlsed In the Statement of Flnancial Activities once the charity has entillement to the funds, it 15 probable that the Income will be received and the amount can be measured rellably. the followlng speclflc pollcles are applied to particular categorles of Income.. Donated servlces and facllltles are Included at the value to the charity where th15 can be quantifled. The valu2 of servlces provlded by volunteers has not been included In these accounts. Investment Sncome and membership fees are included when recelvable. Subscrlptlons recÈlved in advance are recognised as deferred Income. ExpendÈture Liabilities are recognised as expendlture as soon as there is a legal or constructive obligation commlttlng the charlty to that eXpenditre, it is prob3ble Lhat a transfer of economic benefits will be requlred in settlement and the amount of the obligatlon can be measured reliably. Expendlture Is aecounted for on an accruals basis and has been classlh.ed under hoadlngs that aggregate 611 cost related to the category. Where costs cannot be dlrectly aLLribuled to PdrtiCLJl3r headlngs they have been allocated to actlvities on a b&sis conslstont wlth the use of resources. Grants offered subject to condltlons whlch have not been met at the year end date are noted as a commitment but not accrued as expendlture. Allocatlon and apportionment of ¢osts Where costs cannot be directly attributed tD partlcular headlngs they httve been allacated to ctivities ofi a basis consistent wlth the use of resources. Intangible asgets Development costs are held at cost until the Intangible a55et 15 available for use. Amortlsatlon wlll be provided at the following ann(fal rate in order to wrSte off each asset over Its estimated useful life, Development costs at 25% on cost Tanglble flxed assets Freehold property is held at falr value. Any adjustments in fair value will show as a surpltss or deficlt in the year. Depreclation Is provided at the following annual rate in order to write off each asset over its estlmdled vsefu1 lire. Flxtures and fittlngs at 250/0 on cost Investments The holding values of shares in subsidiary undertaklngs are ieported at hlslorical cost. Page 23
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERXNG Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2Q25 ACCOUNTING POLTCIES- continued Stocks Stocks are valued at the lower of c05t and net rea115able value, after maklng due allowance for ob501ete and slow mavlng item5. Taxation As 3 charity. The Chartered Institute of Plumbing and Heatlng Engineering Is exempt from tax on Income and galns falling wlthin sectlon 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Galns Act 1992 to the extent that these are applled to Its charttable objetts. Fund accounting Unrestrlcted funds can be used in accordance wlth the charttable objectives at tlte dlscretlon of the trustees. RÈstrlcted funds can only be used for partlcular rÈstrlctÈd purposes wlthln the objects of the charity. Restrictlons arise when specified by the donor or when funds are ralsed for particular restricted purposes. Deslgnated fund5 are unrestrlcted funds 'rlng fenced, by the trustees for partlcvl84' purposes. Further explanatlon of the nature and purpose of each fund Is Included In the notes to the financlal statement5. Hire purchase and leasing commitments Rentals pald under operating leases are charged lo the Statement of FInancal Activities on a stralght Ilne basls over the period of the lease. Pen$ion cost$ other post-retirement beneftts The charitable company operate5 a defined contributson pension scheme. Contiibutions payable to the charitable company'5 pension scheme are charged to the Statetnent of Financial Activities in tlie period to which they relate. OTHER TRADING ACTIVITIES 2025 2024 Sales of stspplies Offlte servlcès Sundry Incamo Sponsorshlp Income Exhibitions income 60.290 102,241 3,618 39,500 79,657 83.154 4,482 233 740 167 293 Page 24 continued...
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Ftnancial Statements - ¢ontinued FOR THE YEAR ENDED 31ST DECEMBER 2025 INVESTMENT INCOME 2025 2024 Deposlt accoutFt Interest Current asset investment Income 26,433 45,216 ENCOME FROM CHARITABLE ACTIVITJES 2025 2024 Activity Educational Magazlnos & Dlrectory Malritaining Professlon?I Standards & Awareness MaSntaining Professlonal Standards & Awai"eness Publicatlon5 30.684 36,408 Fees from mernbers 987.219 948,580 Grants J 021 903 984 988 Grants received, included In the above, are as follows.. 2025 2024 City & Gullds RAISING FUNDS Other trading activities 2025 2024 Sponsorshlp costs Cost of 51Jpplles sold Exhlbitlons 36,600 18.959 22.925 CHARITABLE ACTIVITIES COSTS Grant fundino of activities (sÈe note 71 Support costs (see note 8) Direct Costs Totals Educatlonal Magazine5 & DSrectory Support Service5 for Members M3intainlng Professional Standards & Awaren5 307,686 93,666 322,514 401.352 346,625 24,111 232 352 305 932 538 284 540 038 722 112 1 286 261 Page 25 continued...
THE CHARTERtD INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEP4BER 2025 GItANTS PAYABLE 2025 2024 Support Servlces for Members SUPPORT COSTS staff costs Commun icat(ons Office cost5 Premlses COSt5 Educatlonal Magazine5 & Directory Support Services for Member5 Maintainlng Profe5slonal standards & Awareness 23,458 13.302 40.619 7.115 169.415 13,302 40,620 51,380 260 639 121 872 Meellng & confÈrence expenses Flnance costs Governance costs other Totals Educational Nagazlt)es & Dirertory Support Sei'vlces for Members Maintainlng Professional Standard5 & Awaren5 9,172 93,666 9.173 10,002 17,376 11,246 322,514 305 932 722 112 Actlvity B3sis of allocation Staff costs Use of Staff Time Commun icatiogt5 Use ol Resources Offi'ce cosls Use of Resources Pretnise5 Costs Use of StBff Tlme Flnance costs Use of Resources Qlher Use of Resources Meetlng & conference expenses Use cf Rèsources Governance costs Use ol Restsurces NET XNCOMEI(EXPENDITURE) Net Sncome/lexpend¥turel Is stated after chargingl{credltlngl'. 2025 2024 Auditors, remuneratlon Taxation compllance service5 Deproclation owned assets other operating le.ases IDeficit)/surplus on disposal of flxed assets Development costs amortlsallon LO.962 1.278 27.009 44,134 348 10,897 1,085 3,928 24,036 (219,253) Page 26 tontlnued...
THE CHARTERED INSTITUTE OF PLUNBING & HEATING ENGINEERING hlotes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2025 10. TRusfEES' REMUNERAfxoN AND BENEFITS The were no trustees, remuneration or other benefits for the year ended 31st December 2025 nor for the year ended 31st Oecember 2024. Trustees, expenses Reimbursed meeting and travel expenses totalling £1,000 {2024.. £1,923) were paid to two of the trustees durlng the yeai.. Expenditure related to the Presldents dlnrtrer event were £7,245 {2024- £4,192). 11. STAFF COSTS 2025 2024 Wages and salarles Soclal security costs Other penslon costs 499,277 53.874 490,042 46,961 586 576 567 249 The full tlme equlvalent number of employees for the year was as follows; 2025 2024 Membershlp Technlcal Support Total The averaoe monthly number of employees durlng the year wès as follows.. 2025 2024 Management Technlcal Admlnlstratlon li The nuillber of employees whose employeÈ beneflts lÈ%cludlng employer penslon costs) exceeded E60,000 was.. 2025 2024 £60,OOA - £70,000 £ioo,ooi - £1 10,000 Key Management personnel employee beneffts are £176,270 12024- £172,107). Page 27 continued...
THÈ CHARTERED INSTITUTE OF PLUMBING & HEATENG ENGINEERING Notos to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2025 12. HJGHER EARNZNG EMPLOYEES Conti'lbutions totalling £18,423 (2024.. E17,9051 p3ld durlng the year under money purchase scheme for hlgher pald employees. 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Charitable activities Educational MagB7inEs & DireEtory Maintaining Profe55lonal Standards & Awareness 36.408 36,408 948,580 948,580 other tradlng actlvltles Investment income Other income 167,293 51,168 219 253 167,293 51,168 219 253 Total 1 422 702 1 422 702 EXPENDITURE ON Ralslng funds 22,925 22,925 Charitable activities Educational Magazlnes & Directory Support Services for Members Maintaining Prafe55iorTral Standards & Awareness 391,590 323,002 391,590 323,002 505 457 505 457 Total 1 242 974 1 242 974 Net galns on Inve5tment5 NET INCOME 187,611 187,611 RECONCILIATION OF FUNDS Talal funds brought forward 1,561,119 1,561,L19 TOTAL FUNDS CARRIED FORWARD 1 748 730 1748 730 Page 28 ¢ontlnued...
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Finan¢ial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2025 14. INTANGIBLE FIXED ASSETS Developme Costs COST At 1st January 2025 Additions 236,404 At 31st December 2025 246 214 AMORTJSATION At 1st January 2025 Char9e for year 193,128 At 315t December 2025 211 805 NÉT BOOK VALUE At 31st December 2025 At 31st December 2024 15. TANGIBLE FIXED ASSETS Fixtures and FreÈhold property Totals COST At 1st January 2025 Additions Dlsposals 21.411 93,522 21,411 560,227 466,705 At 31st December 2025 466 705 113 533 580 238 DEPRECIATION At 1st January 2025 Charge lor year Eli[ated on dlsposal 12,704 27,009 12,704 27,009 At 31st December 2025 NRT BOOK VALUE At 31st Decerllber 2025 466 705 541 577 At 31st Decerllber 2024 The Institute also owns the President's Chain and Lady's Pendant whlch have not been incorporated into the balance sheet. The Cliain and Pendant are valued for insurance purposes, Page 29 continued...
THE CHARTERED INsriruTE OF PLUMBING & HEATING ENGINEERING Notes to the Fina¢11 Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2025 Ifj. FIXED ASSET INVESTMENTS Share> in group Listed undertaklnos investments Tota15 MARKET VALUE At 1st January 2025 Dlsposals Revaluallons 1,310,248 1,310,251 (440,000) (440,000) At 31st December 2025 948,576 948 579 NEf BOOK VALUE At 31st December 2025 948 576 948 579 At 31st December 2024 1 310 248 1 310 251 There were no investment assets outslde the UK. Cost or valuation at 31st December 2025 Is represented bv.. Shares in group Listed undertakings investments Totals Valuatlon In 2024 Valuatlon In 2025 Cosl 7,883 78,328 862 365 7.883 78.328 862 368 948 576 948 579 The company's Investments at the balance sheet date in the share capitsl of companies indude the following.. Plumbing & Heating Promotions L?mited Fieglstered office.. 3 Capricorn Centre. Cranes Farm Road, Basildon, England, SS14 3JA Nature of business.. Non~trading Class of share.. Ordinarv holdlng loo 2025 2024 Aggregate capltal and reserves Greenplumb Limited Reglstered office.. 3 C3pricorn Centre, Cranes Farm Road, Basildoa, England, SS14 3JA Nature of btsslness.. N(bn-tradlng Class of share.. Ordinary holding loo 2025 2024 Aggregate capital ar¥d resee5 Page 30 contlnued...
YHE CHARTERED INSTITUTÉ OF PLUMBING & HEATING ENGINEERING Notes to the Financial Statement$ - ¢ontinued FOR THE YEAR ENDED 31ST DECEMBER 2025 16. FIXED ASSET INVESTMENTS- continued Safeplumb Limited Reglstered office.. 3 Capricorn Centre, Cranes Farm Road, Ba5ildon, England, SS14 3JA Nature of business-. Non-trading Class ol share.. Ordinary holdlng 2025 2024 Aggregate capltal and reserves Market value Is consldered to be the same as hlstorical cost. 17. STOCKS 2025 2024 Stocks 18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 TrBde debtors orher debtors VAT Prepayments & accrued income 37,529 6,100 20,331 19,038 6,100 4,772 107 296 76.260 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade credltors Soti31 sÈcurity and other taxes Other croditors Deferred Income Accrued expenses 19,061 19,424 8,719 334,761 10,933 14,609 8.719 296,726 400 277 345 927 Deferred income represents 2026 membershlp fees received before the 31st December 2025 of £334,761 12024'.£296,7261 are Included in cred5tors'. amounts falllng due withln one yèar. ovements In the year 2025 2024 Oeferred Income at l January 2025 Released durlng the year Arising In the yÈar 296,726 (296,726) 334 761 292,960 {292,9601 296 726 Balance Bt 31 December 2025 334 761 296 726 Page 31 tont4nued...
THE CHARTEREO INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2025 20. LEASING AGREEMENTS Minimum lease payments under non-cBncellable operatlng leases fall due as follows.. 202S 2024 Wlthln one year 21. MOVEMENT IN FUNDS Net movement in funds At 31.12.25 At 1.1.25 Unrestricted funds General fund Revaluauon Reserve 1,740,847 {35,207} 1,705,640 1 748 730 1 773 216 TOTAL FUNDS 1 748 730 24 486 1 773 216 Net movement In fttnds, Included in the above are as follows.. Incomlng resources Resources expended Gains avtd losses Movement In funds Unrestricted funds General fund Revaluatlon Reserve 1,314,091 (1,367,933) 18,635 [35.207) 1,314,091 (1,367.933) 78,328 24,466 Restricted funds Water Distrlbution Project 4,000 {4,000) TOTAL FUNDS Comparatbves for movement in funds Net movement In funds Transfers between funds At 31.12.24 At 1.1.24 Unrestricted funds General fund Revaluallon Reserve 528,134 1 032 985 179,728 1,032,985 1 032 985} 1,740,847 1 561 L19 187 611 1 748 730 TOTAL FUNDS 1 561 119 187 611 1 748 730 Page 32 contlnued...
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Finanaal Statements - contlnued FOR THE YEAR ENDED 31ST DECEMBER 2025 21. NOVENENT IN FUNDS- ¢ontlxued Comparative net movement in funds, included in the above are as follows.. Incomlng resources Resources expended Gains and losses Movement In funds Unrestricted funds General fund Revaluatlon Reserve 1,422,702 {1.242.9741 179.728 187 611 TOTAL FUNDS 1 422 702 1 242 9741 7,883 187 611 A current year 12 months and prior year 12 months comblned position is as follows= Nel movement In funds Transfers between funds At 31.12.25 At 1.1.24 Unrestricted funds General fund Revaluètlon Reserve 528,134 1 032 985 144,521 1,032,985 1 032 9851 1,705,640 1 561 119 212 097 1 773 216 TOTAI FUNDS 1 561 119 212 097 1 773 216 A iurrenL year 12 months and prlor year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and 1055e5 Movernent in fund5 Unyestricted funds General fund Kevaluatlon Reserve 2,736,793 {2,610,9071 18,635 144.521 2,736,793 12,610,907) 86,211 212,097 Restricted fLtnds Water DislribuLiun Prnlect 4,000 (4,000) TOTAL FUNDS 2 740 793 2 614 9071 212.097 W?ter Distribution Project During the year. the charity received a restricted grant of £4,000 from City & Gullds to support the Bokhejund6 Water Distributlon Project in Nepal. The grant was fully utlllsed In the year on project- related expendlture, wlth no balance remalnlng at tho yoar end. Page 33 contlnued...
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Notes to the Financial statements - continued FOR THE YEAR ENLIED 31ST DECEMBER 2025 22. RELATED PARTY DISCLOSURES There were no rolated party transactlons for Ihe year ended 31st Doeember 2025. 23. FRC eTHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES In common wlth many other bvslnesses of our size and llatre we use our auditors Lo prepare and submit returlls to the tax authorities and assist with the preparotion of the financial statgnents. Page 34
THE CHARTERED INSTITUTE OF PLUMBING & HEATING ENGINEERING Detailed StatemeT)t of Pinan¢lal A¢tivitie5 FOR THE YEAR ENDED 31ST DECEMBER 2025 2025 2024 INCOME AND ENDOWMENTS Other trading activities Sales of supplies Office servlces Sundry Income Sponsorship income Exhlbltlortrs Income 60.290 102,241 3.618 39,500 79,657 83,154 4,482 233,740 167,293 Investn7ent income Dep051t account Interest Current asset investrnent income 26,433 45,216 62.448 51,168 Charitable activities Fees from members PubllcaLlons Grants 987,219 30,684 948,580 36,408 1,021.903 984,988 Other income Gain on sale of tanglble fixed assets 219 253 Total incoming resources 1.318,091 1,422,702 EXPENDITURE Other tr?dlng activities Sponsorshlp costs Cost ol supplles sold Exhlbitlons 36,600 18,959 22,925 85,672 22.925 Charitable aetivitie$ Wages Social securlty Pensions Maiotaining professional standards Magazlne costs Awarene5S service for members Grants to institutions 253,877 26,567 16,076 56,191 102,231 73,930 11,166 247.698 26,338 14,768 55,618 ID3,046 64,363 12,317 564,149 550,144 Support Costs Staff costs Wages Carried forward 208,590 208,590 205,792 205,792 Thls page does not form part of Ihe staiutary financlal statements Page 35
THE CHARYERED INSTITUTE OF PLUMBING & HEATING EWIGINEERING DetaFled Statemenl of Financial Activities FOR THE YEAR ENDED 31ST DECEMBER 2025 2025 2024 staff costs Braught forward Soclal 5ecurlLy Pensions Other staff costs 208,590 22,730 14,747 205,792 16,934 13,156 260.639 270,189 Commun ications Telephone Postage and statlonery 4,358 4,020 39,910 30,822 Office costs Insurance Postage and siatlonery Repalrs and renewals Sundrles IT support servlces Depreciation of tanglble fixed assets Loss sale of tangible fixed assets 11,144 14,249 1,850 3,402 45,193 45,686 348 12,892 14,194 2,332 3,468 43,893 58,096 121.872 134,875 Premises costs Other operatlng leases Rates and water Llght and heat PremSses repalrs 44,134 481 498 24,036 1,428 3,752 79.047 36,182 Finance costs Sank charges Card service charges 12.865 8,828 27,520 23,009 other Legal & professional fees Subscriptions Unrecoverable VAT 19,047 5,226 10,986 5,335 29.894 50,011 46.215 Meeting & eanference expenses Meetlng expenses Website expenses 31,763 27,864 86,884 74,068 Governance costs Wages Carried forward 36,810 36,810 36,552 36,552 Thés page does not form part of the statutory financial statements P3ge 36
THE CHARTERED INSTITUTE OF PLUMBYNG & HEATING ÈNGINEERING Detailed Statement of Financial Activities FOR THE YEAR ENDED 31ST DECEMBER 2025 2025 2024 Governattce costs Brtsught forward Social SectY Pensions Auditors, remuneratlon Avdltors, remuneratlon for non audlt work 36,810 4,577 2.602 10,962 36,552 3,689 2,322 10,897 Total resources e%pended 1 371 933 1 242 974 Net (expenditure)/income before oains and losse$ (53,842) 179,728 Gains and losses on Investment5 Realised galns on Itlvestments Unreallsed gain5 on investments 18,635 59,693 7,883 Total gains on Investment5 Net (expenditure)/income 187 611 Thls page does nDt form part of the statutory flnanclal statements Page 37