C7Aritv regIstion numiyer. J1314()¢) Chartered Institution of Civil Engineering Surveyors {In¢o4)ofdted under ROYAI Clthrterj Annual R.eport aDd Fiuancial"Sthttments for the Year Ended 29 Febrnary 2024 The Moffatts Partnuship LLP Suilt 1.1, First Floor Ja¢.k8L)n Ilousc Sib>on Eoad M33 7RR
Chartered InStitiOn of Ctvil Engineering S.urvoors Contellts Refercnceand AdtDillTsiratii'e D.ctails TnJbt¢es'. Report Independent Auditorg Report c.onsolidated Siatement of Financial.Acti*iti&s 15 CoTrs01idaied Balance Sheet 16 Balance Sheet 17 Cnnsolidated Stelent ofcasb Flows 18 Notes 10 th¢ Financial Statements 191038
Chartered Instithtion of CiTriI Engilleering Surveyors Reference and ,Idmintstrative Details Chief Executive Olleer r SiTnon Ha1> I'ru5¢ees Ru.%scll Welbh D¢*niel Wai s.um larek Sutho¢ki Ale.xandrn Pearsall Andrev+' Evans ¢ilison Watson Adriennel-2Thiood Michael Mclhatton lolin Ffoser BaLset%wt MoLwmi Afsheen Ul-Haq Robert Hublwd C,hi'i% Birchall Peter Hallsivorth Laxm GhimTre Cbarih, Rcgistsxtioll .mIr 1131469 Company Registrntion Trumber RC.OOt)832 The chanty is incoTpordied in England Ivales. Registered 0{Ce Doiiiinion HOe Sih50n Road manuhter M33 7PP Page I
Audilor. The trI4oÉTatis Partner>hip LLP Suit¢ 1.1, FiTSi Floor Jacksoii House" Sibson Road M13 7RR Bankers The C¢>-operaiive B3Dk Page I
Chartered Institution of Cis11 Engilleerillg Surveyors Trustees, Report The ttee. iyho .arÈ direetots for the purpoqtr of Coinpanv t¥. Prent the annual Teport"lo£ethw Mllth tl?e financial ststemeniS and audrEors'" report of the cbaEitablc company for the year ended ?9. February ?J124. Objectives lld Aelilryties Objgets ffjidaims The aclÈ¥'ities of th.e Institution are Iwlly goerned in accordance witlL • 11.5 Roval CliJrtcr of Incorwalioff IhL gyuidelines of the ChaTTtv Commissioo Principal Acriwiie5 'ro high standardb of practiLX and prot¢5sional condu bs. all itsmemberJ' for the."benefit ofthe public and tor that purpose £0 impletrient sc.hunes for enquiriDg into prof&8ional or husiness.conduct.and,.whe¥e necessary. -.appTDpriate disciplinary measures. implementiTSV -ru prnnitxe q>r a5Si%t in promoting research tnto Litril Lngineering suTheTr-irig and to publish the u5ethl ¥L'.sulis ol. such ro%e4V¢h. 'I'o proi idc"a njeans.of icstin(p.thc qualifieations ol. condidyle% for adm"issiun niembeTship of the Knsiiliiiiiiii b!, eX1lall0ll in th¢ thebry knd prnctice of civil engitteering sur¥'ey.ing and ro 1&sue"diplomas. cenificates 2nd other aiwJi'd5 to successful candida% To Iirgtinise or support thc Or¥£15allOA of Lornterenees, seininars. leuurex courses of" InsIdIOnS othci" edu¢8nonal evthts. '1 o L'siJblish and support regional or local brajjches haTring their objects ibe furtherance of. the objects of (he In%liiution. . T(> publisli ordislribule book&..report5: promo"lion(tl maierial% journals fJlm& tr"ideo4 tsp"es.and other i5[ruC.110naf matter. . l o pro%'Fae lli )rdrn. Tacilitie&"for ihe iise."ofmembers and others. '1 ci niakcgrants 11)"Imi&eTSlties. or othcr educaiioF]al cslttbli.%hments and to esiabli5h &cholwshI or £thibilion.s ls lid (yivc prizes.ip furtheICe ofihe objects of the AnltutiOn.
Chartered Institution of CiTril EDgiDeeringSurveyor5 Trustees, Report Objecrives srraregKs andaclivities The ope¥atioD of the Institution was directlN' iTnp"aeled b> the COVID pandeEnio The" Insiillltion adopted neiv 'ayS of workit5g and held all evenES v"irSual1. Tb¢ major WiVRties were. Bat.)clsi¥e Motsurni Tepldced .4ndra% Ei'tsiis PrL5idLni iii Seplember 2023. The in5titiJtion introLIuLLd th¢ 'Ili'L5ideiitial ih"eme"" ininaiiN"-& Ihe firsi of Ihese being 'Adding v.alue through CollabDrjOiI Each SEibtsequLiit Pre.sidents will all bc ¥equiTed to select a PSIdential Iheme. RL'cruitL-d a neil.. d'elOpmEnt rnanoger: a neil. membcrsliip scheme& detrelopment oificer and a commiilees Coordinator_ . Lligili/ed all memkrship a1Ce online . I"hL institution now has 3i chartered engineLr& L hav'e continued our bimonthl)" r¢giDnal chair meetings w.thith now includes oYerS chBirs from 14ong Kong. MacKlU, ASErnI¥4 The A.meticMs and DubaitUAE . Il'e liLld 21 iyebinars 'riic institulion bLgan ihc process ofappl)"ine to Ihc PriNT Council for Chartered stsius frir Members ond Fello¥v ¢iiid at the same time updaied or Governance dIlEentatiO. 'Fhe institirtion set up an IDdustr%. Roundi?( ble designed lfr address a ¥Awnber of issues, including pay disparil), itr"itkin the cii.il eDgine¢ting ittdustry brtwten male aad fffikAle emploveffj pay"diipariry brtweea civil engineers, quantity 57srveyot5 aDd tseovial sur¥.e¥oTS and WQTk' Io Ttnprove the btsnding aDd recognits.on of"IhgprL)fession on 1¢ global b8sÉS C',oMI &ore¢d to e51ablish a C.lifflit-Led Infrastructure Group Advisory Board address leadership in Cominercittl anftgemellt. prolde Slrdtegic directt'on for IrLfta5tnJciure C.OnFtnercial staff. focusillg on skills tJevel(ypm¢n¢ recruitinenL and irdining and to"conknl)ute io the development ofnew at(d exiiug cotnpetencKs within th¢ field. 'J"l)¥ InstitlOn e51a"bli5hed the. &.ers' first Il'omcn s X'ettyork th'ith ihe kLJ objcctitre Df"empoierin& conneLliiig and adi'an¢sn¥ iomeii in the c(?nslruction and engineeri prolession.. The lilomen's fyetiork foslers mrnioring, per4vnJl developmenc and a.stroThg sense. of communilv io drii'.e careergrowth aud equiry Fri the field. TIIL inslilutson enEa(yed &uccessfull%" MiTr-L Kanc li ,IP who Iw.offLted io supptsrt our lobbving ¥lFI)ns in Westtninster. eli mtmbers alld llpdated A tot21 of 486..ne. membetg were admitted during the. period (inc.luding studen" ts). A tothl of 97 members succcssfullyupgrdded during the Ferio(L Page 3
Chartered 1nstithth.on of Civil Engineering Surveyors Trustees, Report Trustees and Offiters The and officers sffving diirlng the year.an"d 1ce the sear K'ere as follow.s: Trultees: Lewyis jeffe Mr Nq?rk (appoiDted 21 September ?OJ) Russell Welsh Daniel Il'ai Sum {appointrd 21 september.?3> areL- Suchoeki Alexalldrd Peatsall Andre%. Evans Alison W.atson. Adlie[eYaTh'110d Micha¢l Mclhatton Johii Fr Batsetswe MotsNmi Afsheen Ul-Haq (appointed ?1 Swtember ?0231 Robeft Hubb2Td chri.s Birchall P¢t¢i" Hallsw'orth. l.axmaD Ghin7ire C'hTef EecuiiTre Officer.: Mr S¥ron Himl>.u Page 4
Chartered Institution of Ci3ql Engilleerintr Surveyors Trusteesl Report 'oi? approiTd development scbemes Betiyeen Marelk2023 and Febrnary 2024. A15'tom jac.obs Malcolm llugh. .%irahag Bal four B"eallv P4'TL4 .%ur¥eJs iinilea Liviog. Group BUpoInt RP< (iTouP Buckingham Gr(wp Aiiiey KLlibra¥' ,M14'H Kemp Tri-TeLh 7"ran.%POEtforLondoD Landscope Sapphire LTtility Slstems Ivsp STRATEGIC REPORT Financial Reviei Annual Budgeting.PolTe)' A I)ULl£et is prq)aredinnually to forecasi all"iiems of in¢ome and penditure. Each yw li ib th-e inteniion ol tlie In5titUlioo to balance incoEDC wjth expendiiu Reserves poliry "riiL "frnslce4- aim to r&ain a ofliqurd.reseTr"es that pro¥ide suffic.ienr ¥i""or.king capital to coi'er the C.kariii".'s dai, to day ac.tiiiilieb togethèr .)th"an amouni.for Conttnoencj. I""or the.peFiod l ?IPJ to 28 Febniarv 2.024: &kperditure excttded income b.y £1? 032 A$ a%ouots sboiv. thepriucipal funding 5trehms are from mLThlxrship 5u65criptionb and some rental ittLome. T'lle policv for invcstments i% for any. Su7S Thonies to be placed ivith the i}Trei 10 tatn maximum intLrest at iio ri%L io the Charity. This is in accordance th UK C leg.islation guid.elines. Page 5
Chartered Instithtion of CiTril Engineering Survevors Trustees, Beport STRucfiRE, GoER'ANCK AIND Mkn'AGEN.IL744T Object As staled in Article 4 of the ChaTter_ rhv object fi)r w.hicb thelniwtion is esioblished (hereinafier referred lo.as the ":ObJect-" ) is to sdvènce. IhL %LiLnLe and art of ci¥il engfneering sm'¢ying ill all gspects of the speeielisations of geospat.&.al enBineenn&i tlld ¢omn)eYcial management-Hrythin ¢iTr'il engineering for the benefit of thepubliE in particular. but not ¢xclusifv'elv 6v Iipholding aijd adi'8ucing the. standar(1s"of educatio compeience. Practiand ¢oDduGt of membu%ofthe Histrjry 'rhe In.stitutioll established in 1969 as the Association of SurYevor% in Ciiil EllgstteeriDo and '2s ¥ncorporalLd as a C.oillpanv L"imited b)". Guardntee j4lumber 104J• 64) on 16 February 19P. IE changed its.name to thL Institution ofc.ivil Engineering"SuT4'ey.ors UCES) Ori 31 December 11)80, Tbe Institution of Civil EagiDeaing.Sun-evor. became a R¢gis*red Educational d]ariiy"aod entera on the central Tegisterfjf charities OD 14.&kn.t l<)Q? r¢gi%tration number 1013672. On ? S"epteEDber 21K>g. theln>titutioD ofcivil Lngineering Survaioib i&'as"gr4nied a Rojttl Charter of Inton)ordtion and b¢caro¢ a new legal entitTr knowu as ihe Charter¢i] Ins£iturioD of Civil Engineering Surveyors. An A.4.%el Tran%fer Agreemeiir iykn iigned on the 3 September %19 trao4terriL)g the a55eti to the Chancrcd Tnstiiuiioii ot C'ikil Engiveenng suTre¥r5 (hereillafter refeed to as rhtt InshtUtioDI. The CharityC"ommi55ion granted chari¥able lo the CharreTed.InstiiVtiOn4)fCivil EoDineering SuTrevors on 2 Septcinber 21m. regi51rdiion aumber.1131469. Opergtioual strnetmre The. organogrdm on FdgeÉ sbows Ihe organisational and decision-making strnctUTe of the In5tituriDn. The ileci4ions or rectrmn)tJsdthions made. bTr" the various corornitteei are submitted to Council of ktaDogement for endor.%einent oi" ¢ipproi'al clPIlaDI the Charteran"d Bye-lails. c.omm itte& Panels and w-ing Groups"aTe CDmprised or InembeTS wÈth speci"fickuoi¥ledge.and exTerti5e in the relei.tttl area forTh'hicb. they are e5ta"blished. Th¢ InstiilltiOA ha5 a detailed aTJd Enforceable Rul(¥ of Protts-%lODal Conduci_ Tlie Council of mageMent (Co.1 Tli¢ goi'emance and control ofthe In5tiwtioll and its atTairs is Yeed in the Com in accordan¢¢ ii'ith Article l O. L of tlie C..httrter. c.om iriecis at Ic&%t"3" tiuies eath year io collfider and approve bu5ineb&' generated by the Iiisliiulion'5 ci)mmittce& wdnelx and iivrkino q'l)e Co>A comprises the President: a.Senior.Vice Prident. I,'ice. Presiilent and Immediate P.ast Prth-ldL ia aLcorclaTh iTr'ith Be-laS 35 - 37: and fourte£n memberi eiiher Llertcd b>" pl1 ballotofthe Inslil]¥tlinn's corporate mcmber>bip or appointed or co-op.tcd b¥. Com occordanc¢ B>".e-laws 41 and 4) - 47. Page 6
All niembers of C.OJ¥l 8.re direotots" and trustees ot the Insi¥tutiOD. Those who held office during J~20?4 aiy showh on page 4. Memirs of ih"e InsÉithtlQD their lime to Co%1 l and comn)itlees on a 3'oluntary basis. Tbe success of ihe InstituiiQ%S ib dq)endeD¢ upon th¢ etrotts of tts rnernbers supportcd by protessional staff. The Chief Exeaitive Otficer (C.EO) is Tesponsibleto the c1 for all aspttts ol the day-to-das bu&in&gs operatioDs of the"Instiliiiion. Region5 of the Institution 'ro pYi)%i(le for members"" requirements ihe Lin]1 Kingdom 15 divided.into 8"regions ith a region in.Ittaand and, Honq Kong. l¥la(*u: L.'n"itcd tknb E.mirates. inc. Dubai. lyotth America lIAStrali lach reLYiOTh appoints" its oivii.Chairand r£gional co?nmittee Tjembers and operaT¢S ou subvenrions b&sed OD budgeled acuvitie& Page 6
Chartered Institution of Ciiql Engineering Survevors Trnstees, Report Relutiollship Iiith other professional org1$tionS The Insiilvtion CUTrently" operdt¢fi I1th other iJ'K-based ConNtruI0rt onentated oryanisation¥ inaDy of ivhiL"h also up¢r4tL worldw'ido includinu: 'rhe Ins£ithlionis an"aclii"e member of the IIL CorL¥tnJclioti Jndtssty Lowicil ICIC) . TIIL (nstitution is.a full member of the Federalliin Iniemalionale de Geometres (FIG) an Internatioffai fL'£lLralion ol" Surn',evor 'rhe Instilulion 15 dclii."e in joinilfv prowiding membLr.¥hip and expffli io thL Geospatial Eneineering Paiiul and the ManagemeTht Panel with the Insti"Ivlion of C.i3ry1 En(riueers l-l)e InsliLutioTr has a Th-holl& oi¥Thcd tradinu subsidiary, SL'RCO Llniited ii-.hich operafrs in atcordance ik'iih I IK Charitie5 legislation 'l-l)L InstituÈion 153 liceiised member of ihc Engineering C'ouncd (EC) "I"hL Instiiulion is a membLY. of the Iniemationul CO EnuineLring' Council (ICEC) 'I"lie InsLiiutinn is a member ofthe Profegsional neorino Cnmniiliee {.PEC) In addiliiml lo the foregoingihe Institutio"n httb close and Tegular liaFson amorygst other& iDcluding: 'I"hti I$t1110n of C.harteTed Surtreyoys (RILS) . Tlic Clittrtered IDstithle of Building (CIOB) . 'I'h# C,hurtered Insiituie ofAthitrators (CIATbl . Cl?aJ'iered Inimie of Architectural Technologists IL"L4T] riiL Suryie¥.knociation of the iJ'niied Kingdom (TS.4) . In%iiluiion ollncoTP.ofdtul 0nCerS Sri.Lanka (LIESLI. . Kong knsiituie ofsuThvJ'ofs (HKIS) Flong Kont ]nsts"tuie of Conimerci8lh.lJnaoemeiit IHKIC"IM) kIing kÈvng Insiitute.ofL'iÉlities SpecialibtN {HLTl . lE1caU S%xieii ol"Cosl Engxryerfs1I48CF.] Getsspaiittl c.ouncil ol¥iustralia IGCA] . Ci)n.4twction Industry ReSeah aod lDforniation .45$0ciatiory [CJRIA] . IliiyJl Éleam5 of LnginecFin£ (E"ng) .IlllVI'.r55h." ofE5tak 2trlanaoemeni tUC.Ll..l] • ChariLfL'd Surn'otrors TraFning Tn [csrr] .Qb.41?ciation for Prvje¢.L.M4inageineni [AP_¥I] . chai1ered.45soclIOA of Buildinv Fthoinccrn (CEC-AI Tnslitute of ..Or&place and Faciliue5 F¥fanduemenl (JIII&FKI} . Jn51ituti(m ofcivil E.ngineeJs (1. ) . C.onstwttffitsn A&sociwion ofBuilding Engineers (C,4BF.} SuThieK Liaison Group (SLG j . 'rhu S'me%. A&SoCi1< trs?l] Ili))'al GLogrdphic Society tRGS"] . Amei'FC4in.Socieli"" of Ci%"il Enoineers l.ISCEI . C.liilltL7d In51iluiion of HiJkiiWfS andlranspon [CtEITJ . Building SfvL4RT Hoing Kong IBSHK] . BKSLIRCO Pagre 8
chartered.ltlltioll of Civil Engineeringsurs'eyors Trustees, Report Org(tiiis1•nI$trUCtMre Ices Clmrtered Instilutson of Civil EneIng SurveJDrs COLryCIL CFFIJV liinantial In5trnments Obj'i'ciives alidpolIrt¥ The gtoup's aciiviiieb expThse it to & number of financial ribks incltsding credit risk: cash tl(iiv risk and liquidit risk. "riit usc OY fiancIal deTiwJiivc% is eoi'eiDed b). t]ie eroup's liLIeS approved b!-' t]ie. hoard ofiriJ5*e& iNhieli i)roi'idL ii.'riiien principlvi on the we" of. financial deriiitii'es to manage thttse ri5k5. The group does not knse derii'ative financial instrnn)enti for speculatieputP0sc$. Page 9
Cu.¥liJToM¥ ri5A- 'riiL i¥roup-'s aGliw"ities &Np05C it primarili io Ihe linancial Tisks ofchanges in foreign clwrenvw LThchang2e raiub and inrerLst rdtes. The group vse5 foreign exCha0e forlvard contracts an.d inierebi Tate sivap contrdets to hedge Ihebe &NPO.4ur Interest Iwing assets and liabil(ties ale held at.fjxed rate lo ery5re Ctttsinty of $h flows. Credii risk -I'li# eroup s principal iinancial assets are bank" banleS aDd cash. trade and her rECeiklle& ana investments. ThL &kTOUP-"s credit risk- is primaril¥ atttibut&ble to ils Irade receii'ablès. lThc amounts presented in the bulancc sliee.t 4ire nel of for doubrful receivabl, An alloivan¢e for imptiirnieut is madè where there is an idenlificil loss event which. based oll preyiovs aperieoce, is evidence of a reduction in therecover4bility olthe ca%h fioi¥%. Tlie credit Tisk liqllid funds aiid detiNative fiDancial instrutnents is limited because. the COUDiewanies are banks vith higli creair-ratings &%signed b) international ereait-raiiatt agencieb. I'he group b&% no sign.ific4nt cOntration of cre3]ii ri,sL with ekposiire d.over a large niimber of èounlerpartie.% and custi)mers. Liqiiidity risk In ol.der to illainlain liquidiiv to ensure. thai s7]fficienl furids are available for ongoiDg operntions and future d¢eloPMen1s. the ETOUP a mixture of lon(s.ierm aud short_tm Ikl)tfinancc. Fiirther detail& regarding liquidity" Yisk can be. fotsud in the Statelljent of actountiDg policies in the fittancial .%lalefftents:. Page 9
Chartered Institution of Ciiql Engineering S.urvryors Trustees, Report Statement of trust", responsibilities Tlie trit$e$ (ii.ho are also the dsrectots of c.hartered IDstitutiott ol C.ikil" Enginewing SllrveyoTS"for ihe i)un)o%e.s of company law)" are reSpon]e foT" preparing the trustees, report 2nd the financial statements in accoi'dunc¢ iviili appl(cable law ond" bniled Kingdom "Accounting Standardg IL'rLited IfinEdom GeDcrnllv Accepled Accounting Prdclioe). including FRS" 102 Yhe FinaclaI Reporting Siandard applicable.in th.e and R¢public of li'elttnd" "rh¢ report 41nd 2n"t$ hol'e beell prepared in accordance with the pri7iii5iOnS ill the Companies Act ?1)06 I'clbling" to Companv la. rcquirts the Arn5tCp.¢0.PrePare.finanC1aI Statemen for each financial vear. L""nder compally laiw Ilie i1.41ee must not approve the"financ.ial .walemenls unle¥b the%, are saiisfied that tbev give a mie and.fair iiieTh of Ilie L?te of thirs of tbe parent chaTitable compank and the group and of the incoming resources and #pplicalion or resoiii'ces: including its i&come Jnd axp¢ndilurq of the cbaritshLe gmup. for that period In preF)Jring Iliese fsndnciHI taic.tnenty" the trustee5 are required ... belect slb)e acrounting lic.}eS and apply thetn con.8tstentlv' Obse.¢ the meth(7ds and"PriDcipIL% in the"Charilies SORP. Make judgements and tiMateS Ihat are reasonable and pTudent-. .lats wheth-er. pppliczbleaccovutsng stsndards., eoniprising FRS.102 have been followe- d. sllbject m aThy material leparturts.disclosed ond oxplained"iN. the financial Slal¢ments: and prepare the finJn¢ial staiemenis ou tbe going Concern b&8L unlekn il is inap"prowi3tc to JJre>ume th* the pareni. chaE5table cDJnpany will continue iA"busine&k I'he [i'u51e are responsible:forke¢ping.proper accounting Tecords" that can.diiclosc with reasonable accuracy at any linie the financial w)sition of .the pareDE cbaritable cotnpany and the grijup and cnablc thryii io ensure Il?at Ih financial 5latem" ets comply with the Companies Act ?(K16. They 8re.also rospo" Dsible for safeguardi the a,siets ot the parent LhaTitable cotnpanv arid thè group aod hLTce for laking.Teaionable steps for the prevtDtiOn and detection of frauil w)d Dther irregulanries. Thc I51e"are Tthponsible for the maiDienance and integripv of the coQte and.finan¢i41 informatioD inLluded the charitable cOMpanS iFebsit& Le.gislaiion goi'eming The pre.parauDD and dissemioaiion of fu¢11 slaienienls In8Y dtffer from legislation in other jUri1CtiOnb. Di$closure of inforniition to auditor racli trus¢ has taken st¢is that they ought to haTr-e taken as a trusEee"in order to make th"anselves awdro of any relL'I'ani audii inforniatioD aod to establish that the cbaritvs audiior is .aware of that infi)nnation. Tlie trU%lee4 r,onfJnD Ihat there 15 no releyant informatioo thai Ih¢k- knoiv of aud 0[.hich they know the auditOT Is.unau°are, The annual rert was app"Yoi"al by the mistees of the chariry, on J October"?0?4 alld signed.on its behalfby: .4dam Holmes Ilonorarj. Secretarv Page 10
c.hartered lustitution of Civil EngAneerillg Surveyors Independent Auditor's Reportto the Members of Clwtered Institution of Civjl Engilleering Suryevors Opinlon W¢ ha¥'e audited tbe.financial sts[eMen OF Cbartered Jnsiitulion""of Civil EffgineerintF Surv¢yots (the 'charitahle pyrent coTrpatEY) and its subsidiaries (the 'groupl for the veot eftded 29 february 20?4. which comprise the C.tsnsoli41ated S"iatement of Financial Activities. c.onsolidated Balance "S"heet. Balance SheeL C.on501idated S't41tement cf Cash F]ows and Tr4"Otes to. the Financial Stalemenls, includiniF a summary of.signiScant accounting poli¢iei. 'The fmaacial rep>rtino. "framS..0rk that ha.q beeD applied in their preparation is b'niLed Kingdom AL¢ounti#g SiaDdard4 comprisinu c.[{lieS SORP - FRS 10? Thc faliCi81 Rq)orting Stsndard appliciil)le irs the Uli and Republic ofITeland' Mnd applicable law [l}nit Kingdom Gen¢nlly Acc¢pied Accounting PCtice}. In our opinion the financial stsiemeDt&' give r6 true and fair of lhe state.of the ¥Youp's and pareot c.baritgs affaits ès.at."?J February 20?4 and of ?tg inioimÈtTrg resott and 8ppli{lOft oftesources: including its iticome.jnd pendin@ for the ¥ear tl)eii eiide(I; h¢l¥¢ been properfy prepared in a¢cordanc¢ M'iih Lèoiied Kingdom Gen]11. Accepto4 Accowiting Pthclice; and hatre been.prepared in 7C.COTdancewith the rtquiremenls of the Companie%.Act ?1)06. B4sis for opillio"n M'e ¢on(IucEed our avdii in aCcordCe. with" International standa.rdg on .4"uditiDg (UK".) IISA.s IU.K)J and applicable laK¥'. Our zw"onsibilitiei uDdcr.those 5tan"dan15" are further deS)bed the audito.r respon.1}111¢s for ihe audir of the financial statements" 5ecti.on of our Tepon. We ere inLlependent of tbe group in. 0ccinla#ce WAth the eiliiLal roquirL-Inents thal releb'ani io our audit of the fancial stalLmenls in ihe LK, including "the FRI':s l=tliiLal sian(lar and we havt. fulfilled our other ethic£l reipoll5ibilities in aecordantt with these. wuireinenL%. W'e believ¢ that the audst ei'idence ive bave obtained is suffi¢i¢Df and 3ppropriateto proirydea ba¥15 opinion. L"onclusions relating to goiDg concern In uu¢liLing ihe finaocial staiements. we bave coneluded that the t1% use of the.EOtng c(>llcem ba5i>"ofaccouniing in thc i)reparntion ofthe financial statemenL< is appropriat Based on the work we hai'e perfornied: iY.e haNtre not identifted any material ullcertaiuties relaiiug to ev¢ni% or condiiion&a th2L individually orwllectii"eh'. Tnay c&$£ qignificant doubt.on theEroup's"abil"ity..to contsn4e as a going coiieem for a period of at least twelve month) from IF'hen the original fmancial ststhents wcre authorised for issue. 0431. rt5ponsibilities and the responsibiliiie> of the trui> ees with respect to.going concern.are described in the relevant .%eclions of this repori. Otlirr iDformation 'l-h¢ irusleis •re rcsponsible forthe ather.infomiation. The other inforniati(Ki compri*s ihe Infonnation included in Iliu annu32 rqM)TL oiher than the financial stalumerjts and our auditors repDrt.thereoL.Our op.inion on thc. fiiiai)cial .sthtem¢iits does not cokrr the other infoTmai£oo ¢xcept to the extent otherwi&e exylicitly smted in our report: IVL Il<) noi express aus. forni Of•s5uIce COD"cIusion thereon. Pagell
Chartered InstAtution of Civil EnDeerIn0 Survel'ors
Independent Auditor's Report to the Membcrs of Chartered. Institution of Civil
Engineen'nts Suneyors
IT? corfjntctioTh with OUT audit of the financial itaiements. our rPOnsibl11ty- IS to r£ad the other infoTmaiioTr and: in
doinu so, consider lbether the other informaiioll is meteriall!, Inconsistent wi.th the fiuancial staments our
ki)oiN'Jedge olained iD the audit or othen&ise appr& 10 be. rttaterially mi&stated. If we idetitify, such m
Chartered Institution of Ciyjl EllDeerIng SurYe>'ors
IndependentAuth-tor's Report to the Members of Chartered Instttutioll of Civil
EDdO neeritkg Suri'eyors
Auditor Tesponsibilities for the audit of the fittancial statements
Our objectii'es are to ohthin reasonable assuranee about ivbether the fin8Dcial ststemcllL%".a5 a whole are frLe fml
l)lalLri
Chartered l]astitution of CiTrit EngineeriDg SuTh"eyors Independent Auditor's Report to the TrIembers of Chartered Institution of Civil Engineering Surn'eyors lin Saxon and oll be ta"iutory Audtior)" rof The.14offatts Partner&thip LLP. Statuttsry Auditor .%uitr 1.1. Fu5t Floor Jdck%on House" Sibson Road M33 7RR Page 14
Chartered Institution of CIvil Engineering Surveyors ConsolTdated Statement of Finamtial Activities for the Year Ended 29 Febniary 2024 LlneludiDg Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Lfllrestritted fund5 Total 2024 Total 2023 Restricted fuDds Note Income and Eudowments from: C.baritable a¢tiTritieg .Invesimeiitincome Oilier income 1.133,658 ?0,64 l.li3.6i8 ?0,644 J.Oi9,788 Toial iThcomè 1.184.JOI 1.184.307 L'xpL'nditsrc on: C:hJiiL4ble. activiiies 1,195.V6i L195 726) 1,06?,434J. 1.1169,434 Tolal upenditure 1,195.7?6) 11.195V6 Nel (expenditure)fin¢om I'ransfers b"ween thnds {1 I,4l9) (_11.419) 58,3R Other recogDiSed gaios and 105ses Oiher gainw1£x%ses" (113 'et mo¥'ementin fi)nd5 {4.D551 17.677) (12.032) 58,i88 ReconciliAtion of fullds Total fvnds broughtforTr7rd ? 193.894 ?04 786 ? l4().40(1 Total futt.ds carried fornwd 19 189.739 ? }9?754 ? ?114.7¥8 All of the.p.'S activitiLs deri%'e from CODlimiinu opernrioDs durinfT thembove two periods. Ttie fi&n£ls break.doit.ri for2013 is showo in.note l Y. The notes on page5 19 to 38.form On integral pR"rt"of.thesè. fmaneial statements. Page 1%
Chartered Institution of Civll Engineerimg surveir5 [RestratiOll number: RCIM0832) Consolidated Balance Sheet as at 29 Febntan. 2024 2024 Note rixed ossets 7angibEe ass¢1 1,017,342 111,962 I.I49.304 111.9<8 IJIS?81 C"iirreDt4ssets" Slock-ts Debtor C'..as11 at bank.and"in hand 14 00 701 B8.4U6 1383.493 1.47? 51)9 16 1..3£1.474 1,417,424 C.reditors= Ajllounts fallingdue within vear 17 98.631 L341:9411). Net cmrreut assets l.Q73.9&8 1,075,484 et assets .2.19? 7)4 ?.204,7¥ riinds of the Erovp: Rc$tri¢ed tocome funds RostriLd fund5 321) 10.81)2 I,'nrestriCted ineome fuiid5 LjnresLrÉd fimdg Revaluotioikrtherve 1.968.1?4 ?1.41£ 1,972,481 211.41S Tolal unrestricsed fuuds 2.189.539 2 191.496 Totul 19 ?.J9? 754 2,104.788 These fitwocial. siatements hait beeo prep in accorn¢¢ with the special provisions relating to. companiL's subject to the. snyall companies Tegime.within Part 15 ot.the Compaoies Actl006. -I"h¢ tinatsc.ial oll pages IS ro 38 11.u¢ 8pproN'ed th¢ trusteex 8llthorised.for i55ue on . and ¥igned on thelr beha]Fbv: Nlr Simon Hamlyn c.hief eKeeuÉive officer '110/24 The notes on pags19. to 3g forrn an Tntegral part of these.fitwieial statemcnis. Page 16
Chartered Inst¥tution of CiTril Engineering Surveyors (Registration number: RC000832} Balance Sheet as at 29 February 2024 2024 2023 'ote Fixed assels Tangible. JsseL 12 1.005D79 .01 %,46<} Current a55ets 14 ?00 I.9] ?00 Dcbioi% (.'.J.4h Ètt baDk and in.hand 16 1,324.%40 1_163,535 1.450.314 Creditors: Amounts falling due M'ithin one year 17 400 4&41 1?3,446J L'et current a5ts i.9.830 1.1}4(}.Q8¢) Iyet &%%eL ?.OSj.4119 2,1155,5i8 Funds of the ehaTity= Restricted intome funds l<estri¢L¢d fuLds 10,89? L'nrestrirted ineome funds tjnrestricted fi7n&- RevaluilKionièserye 1.830,779 1.8?3.251 ?21.41fj Total MIIIL4trietrd fijnds ?..052:194 2,04,1,()(16 Total funds ? 04.409 "Ili¢se finattcial 5tatenJents hai'e been prcpared in accordance H'iih the. ¥la1 proii" sioo5. Telating Io COLupanie5 subjeLi to the. sm3Jl 1MpanieS ¥m¢ iviihin Part Ji oftbe CompatLi&S Att 2006. 19 'I"h¥ fiDancial svdtements on yages 15 to 38 'ere upproi'ed bk the.trustees. and authorised for issue OA .. . aiid bigned OD th"eFrbeholFh.: J[Llp, its .Mr SinioEk C'.hief e,xeeulii'¢ offittr Thenotcs on page% 19 to 38 fonn an integral part ofth&se fintsncial statem¢ois.
Chartered Institution of Civil Engineering Surveyors Consolidated Statement of Cash Flows for the l'ear Ended 29 Febrnary 2024 2024 ott Cash from operating ach-vitie5 ""Lt casb lexpeaTelJnCom¢ {41.)J?) i$.388 Adjustmellts to cash IIow5 from noll-ca5h items Depreciati¢)n. Joint venture profit InN'eslMent IDC(>me l=oreiyu k CUZTeney translation l_Ok on disposal of tangible-fixed assets- 30.1fi6 2.?,S)? {?6,818) (4,797) (16.5il) (613) 1236 50,()73 Vorking caprfal adjTtstments Increa%e in debtors Increxse ID cre¢lilor5 jA,y3?) 17 )6.69-1 Nel tloivs from opwating a.ctivities 5.627 70 ?()7 Lash Ilows from in%'cstiUE ucti*ilies Interest rèceived Acquisitions of tsnwble ats 46.Oi6 let cash Ilo.w3 frooi Inv110 activ.ities ?6J9? Net increase In cash and cash.eq¥ivalents 74 1)t)4 C'<lsh and cash ¢(Jvii".alents ai l Marcb 1.3il 474 ry76 480 Cash and sh equivalents at 29 Febrnary lJ83.493 1.341.474 All oi the cash floiN'& are derived from c.ontinuing oper31ioDS during the above.Th¥o peTiods. The. notes on pa.19 10 38 form an integral part of these fjDancial.sthtements. Page 18
Chartered Institution of Civil Engineeriug Survevors Notes to the F.inancial Statetnellts for the Year Ended 29 February 2024 I Charih'.stAtss Tlie ch8rity is lim.ited b}". guardntK incorpoTated ID Englattd. and .Wale4 and" consequeDtly d{> not" have share C¢ipilal. Thi. ac1thS.of.its Tegistered office 1%: Domininn Elous Sib%oll lii)a(I Sale Maiiehe.%ter M33 7PP 2 Atcovnting policies Sumninrv of 5iguificxnt aeeounting polieies aiid k"eJ accounting estimates Tli¢ princip21 accOlJI1ng policie5 applied in Ibe preFYardlion of thcse financial sratements 8.$et out. beloiv. The%e policies have13 consistently. applied tcf all ihe years prt¥enied. othenvise srate(L Statement of compliance The financial )%atements hai'e"beeD prepared iD"accord8nce with _4ccounting aad.".RqKJrting by Cha¥ities: Siatement of Recommellded Practice (applicable to Charities prepoyilltt their accounts in accoTdance witb the Financial Reporting StsDdard applicable in she LIK and Republic of treland [FRS 102}j rUtd in Octokn 20191- (C.harili&% SORP IE--RS 102)). the Financial Reporting Si8ndJrd applicable in Ihe tiK and Republic of Jrel8ud (F_lis IU? Ibe co1upleS Aci 20n6. Basis of preparation (;hartcred InbtiMtson of Ci&il Engineerille S"uTreyors u]eets the definition of a public benefil entit). under rL% iii? AsseLS ana liabÉlitie5 are initially recognised at biblorical cott Dt transacts"o"n value Unle Dtbmvise 5taied In thL rolei'aAI tsc4ounting policv notes. Basis of colls01idation The, con%olid*ed finallcial Sfatements c.oDsolidate the financial statements of ihe. tharity and its subsidiary undertak'ings drawn up 29 FebnuTr 24. No statenieni of fJDancial activiiies is presented for the ch8riiy ag permitted b>" section 408 Of the Companies Act 2006. The charity. made a profit for the fiuaDcial year of £464 (20J? _10ss of£5.850}. Page 19
Chartered Institution of Cii'il Engineerino Surveyors Notes to tbe Financial Statements for the y.ear Ended 29: February 2024 ,1 substdiary Is an eniity. controlled by th¢.chariiir. Control is achieiTed" V¥here. the cbarity the io govern the fiDaDcial.and operntiug policies oran entitv so to obtain be[l from" its ac.iiiTitie Tlie results ol.subsidian'es acqui¥ed or disposed of ¢Jwyng the vear are included in the statement of finai)Lial aLtii'ities fTom the effects"Ire date of acquisitioD or up Lo the effcthive. datè of di5posBI. a& appropr5at¢. IIFhe.re n¢¢eN%7c r¥. adJiL1meuts are made. to ihe financial 4ts1ements of subsidiaries TO bring their accouniittg poliLieb ini liAe i¥kth those Used hy the youp. Th¢ purchase method of accountinE 1% U>ed lo a¢count tor bu>iness combiAaiion¥. Ehat rUlt in the 1¢ ¢qUl>ltioN ol 5uIi.4idiarits bv. the group_ The cost of a busin&iS combination } measwred a the .fair i'alue of the asset% gii'en, e(ittity InstMents I5&ed 2nd liabiliiies Incurred or sUmed ai the date of exchane¢ plus co$ directly aiiyibuiable lo the busitteqs ¢ombillOtiOD. Identifiable. &KseLS acqutred an¢J lijbilities and rooting"11. liab.ilities &45um¢d irn a l)U%illCSS ¢OEDbiDation are llyeasurcd initially at their fair Tr'alue% al the acquisition daia Any acess of ihe cotl of the I?uSinL. LombI1[0D the acquiter's inlLresi in Ilie nel fair value ol Ihe idcniifiable asse1& lialiilitie% aiid contingeni libilitie5recognisei] is recorded as goc¥Jli"ill. liiier-compan) transactions: balanc and. unrealibea gain on trans"action$.betwe£n thè charity and its subbidiaries, ..hich are.lated pariiw aretllminated in full. Intrn-.tsrfftEP losses are. also elimiDated but may" indicate an impairnient tbat requires recogniriffli in the consolidattd riiianeial %ta(emcn AccouTtt2ng poliaes .oF svbsidiaTie% have bee cbaDged F,hcre llece55ary. to. al&ure )nsistenc}, with the pDlicie.% adopted bv £he"group. N'on-cimtrollinginteresLs in tbe net asse15 ofconbolidated subsidiarie5 are identified separately l.rom Ilie group-'.s eqllily iherein. Nun-controllin¥r lnier' Collslbn of" the ftmovni of those interests ai the date ot. the origui<il ciimbinaiion and the.non-conirolling shareholder's sht ofchanges ID equilTr since thc dale of thL Mbinatio Total compreheDsiFe income is attributal to nou-CODtrolling inieresls even if tha4 re4uli% in tlie non-LontrollinE inlertsts h,n a deficit balanee. Goiiig Concern The Iru%ttL¥ consider that.there are no material uncertainti& ahoui th.e gr(¥up% abilitv to continue as & going CnCe[lI nor any &5gtiRficanl are3i of Uncertaint that affect the ¢arry4ng value ofa&%ets heTdbY the group. Income and endowments Deferredineome Dcfen'ed tncotD¢ Tepre5eDts.anioun¥s.rèirivcd for fuiure swiods and is. relwed io incoming rwurces in thL period for ivhllth,.It has beeD rtteived. Sue:h.income i) onlv deferroj iphen: - 'Thc tFonor specifies that ihe grant or donation niut only be uscd in"fiJture accouutingpenods" or - I"bL floOr has imposed coBdÉti011s ivhicb musi be met before the chanty. h& W)conditioDa] entitleI.
Chartered Institution of Civil Engineering Surveyors Notes to the Financial Statements for the Year E.nded 29 FebrnaTh 2024 xpenditure All expLDditure is recognised once thece. is f4 legal or constructive obligatlon lo that eKpenditsJre, at 2% pri)biible setilemenl is requiTed attd.il)eamount be mtrdsured reliably. All costsare.allocated io thE".8pplaca6le expenditure heading that aggregaf¢ sirntlar costs.to that caregorF. IVher¢ costs &7101 be"directly.attTibuted io particular lieadTng% Il)ev hale been alli)cated on a basis Wnsistenz iyith ihe use of resource4 with central $ff costs a]locate£l on thc ba41% of 4)e.nL and depreciation charges allotralcd on Ihc portion of ihe asset""4"use. Other. support casL% Allocated based oo the spread of J-kff cos[ Cliarit¢thle aclivilie C;hMritabl¢ e¥pendiwre compnses those cost5 Incuta by the charity in the delivw of" actSVities and )ei'vires tor its helieficlarie. It includes both costs that Lxn be Allocated dir(£Lly to such activities alld those costs of indireLI na(ui'e nece5>arv to support them. Governance costs 'riiL%L in¢lvde the ciists trIbUble the clTrarit5 % o()mpliwice with constitsltional aDd" stsiulDrY requireiiiLnl%', inclu(1sn¥ audiL strategic Man3geMll and tee5 meetings aad reimbutsed.expeDses. Txxstion 'rhL cbarlly is eonsidefed to pa5S tbe ie5ts Set oui in Paragraph I S"chedule 6.of the Finallce.Aci ?010 o1)d th¢refore it me¥l.s the dcfinition of a ch2ritsble company for UK cOration tax PLtTPOS¢S. A¢cordinEI)"- Ihe c.hatity 1% Iioteniii111y e.¥Lp1 from taxation in respect of incoEÈie or capital garns ¥ee¢i¥'ed i¥5thin categories Covered bv Chaptttr 3 Part I I of Ilie Co4)ttration Tax. .4è.t 10 (¥r Sectton 6 of the Taxation of Chargeable Gains Act IW_ to the extetkl that sucl) iKcom¢ or Ill$ are applied exclusi&el}A to caaritable purposth. Tanuible fjxcd assets IndiNidual fixed &5sets cosiinE £0.00 or more. are initiall%, recorded at COSL less an>. svbsequent. aCCniU}i led depreci<1ts1th and gubsequent accumulated impairn]ent losse5. Depretialion and amortisation DeprecÈ2uou is providal on.t3ngible fixed assets bo as io MTirc off ihe cosi".or i*lUatiO ILss 0n5' estimated residual vxIu4 olir their £xpected useful economic life as folloTh's." .4sset tla5S Freelioltl propertie5 (excluding land) Fixture.% & Fiitinus" Comi?1Iter equipment Websi Depreciation method and rate 2.5Yo Stsaigbt Jine - 20% Straioht lute basis .?5Vo StraiJt line bkn-is / Straiabi lineba5i5 PLtse 21
Chartered Instithtkoll of Engineering Surveyors Notes to the Financial Statements for the Year Ended 29 Februarv 2024 Business combiDation$ Bu%1ntt. comb"iDations •ce¢iunted for under the purchase method. l¥here mectssary: adjustwellts 2rL madc 10 Ihc tinxttcial sktcmtnts4)f subbidirrits.to bring tbe accouoting polithes used into"Jine ivith those used by the lDup. All inl¥a-LY0P msactions, balaft. income and eTpellw are elirninated.on consojidaiion. IJJ accordance ivith SeLiion 35 of FRS 101 Section 19 of F.RS. 102 I5 noi been applied in these finan¢Jal Maten]ents ID Tespect of bu%ine8s Combinatio effected PFior to thè.date of.trA1È10D. fi iAed asset investments l.'ixed in¥esbnents, other than programme relatt(l ini'¢sMenl are included al mark-etvalueal the baldncu Sheet (late. Realised Wdins aad l(ksses on 'eStMentS are L7lcu18ted as the difference. berween 5a]es pro¢eLd.4 and tl)Lll Inarket i*2ue. at the sthrt o.f the year: or theiF qub%e(Tuent cosL 3nd arè ch"arg¢d i)r credited to the .Stalement of rittanci81 Adi¥'ities"in theperiod ofdisposal. L5iirealiseit gains and 105ses Tepresent the mo¥¢ent in tnark¢N iaLue5 during the vear and are crcdiwf or charg¥d to thL' Svdlemenl of fiuanctal ActiN'"itieb based on the ni2rkct salueéi the vear en(L Stock 15 valucd •t thc loiver of cosi and cstimated selling price less rods to complete and sell: afier due rLg>ard for ohsoleie and sloTh 5tocLs. Cost is detcrnitked sIng the.fiTht-in: fiThf-our (FIFOI. Trade dehtors Trade debtor% are aDiounls due from customers lo¥ mewhandis¢ sold or scrvicets performed the or.dinaTh' CDurbe of b(Isiness. -Fn4de debtOFS are. recognised iniually At tht"transaction price. They.aTe .%ubsequ¢nily meJSUTed ai amonityed cost Iisiiigy the eiTeetive interest meihod. less pro&"ISlQD for inJpairryienr._A proi"Ision for the impaiTmen¢ of tyade debtor.s IS establtshed when tbere is.objeciive evid1¢¢. that the charFiy wi.ll not be 8blè.to collect aTI amounrs due accordin&i lo the oriwnal ietms of the¥eceiYabl¢s. C'oih and cask equivalents Ctssli artd c&%h"cqUivEnts wnprise cash on hand and t3114]eposI a.nd other sh"OTr-tern] h.ighly liqwd ioi'¢slinent tliat are readily contrertiblt to a kllown"amount tsf ¢asb and are subject.to an insignifrcant nsk of ebonge tti valu. Trade creditors 'I'radL' cred¥ts are obliwdtioDs to pay for goods or serni¥e? Èhat. ha&e been acquired in the ordiiiapi Loiirse of business from supplie4& Accoull pay.able 3PL elassified as current liabilities if the chaTity-. does noi Iiave unconditional righi ai th.e end of the reportino p¢rio(L to defer 5etdement of the Creditor for at leoSI Iv4rlve moIiihs' after Iht rcporting date. I-f there 15 Jn un¢onditional right to defer"settlcment. for at Icast" twelv¢.months alter the repor£in¥ £lat¢ the.v are. pt&$ented as DOu-cuThent 3iabilities. 'I'i'a(le CTeditots" are recognised initially. at the traNsaclion price. aDd.bUbSeqUIIY MeasUd al" amorlisd c()$1 vsiiTrg Ilie eflectiv"e Illtere metbod.
Chartered lllstitution of Ciiql EngineeringSuTh'evors Notes to the Financial Statements for the Year Ended 29 Febrw 2024 Bornmines Tntere¥t-bcanng Ix¥rroi%ings are Initially rccorded ai fair i'.#lue, t>et of trdnsaction coski. Intertst-beatitt&T borrowings are siibseqtEentTI' carried at amortised co)X the diffcrence betw)een.IheproceeLl ne£ pf.nsaCtion cost), <1TJd the dinouni due on redemption b"cing. re¢Dgnised a charge to The StalemeEtt of Finwicthl. Acti11 0eT the period of the reéetrantborroivin Intercst expense 15 recoguiseo on the basis of the eff&live interest meth(Kl and.is included in iDterest payable aiiil similar rharges. Borroiings are classified.as current liab.ilities unless the Ch ritj" has aD.IlryCDndiuonal right to defer setilemeni Df Ih liability for at lea>1 ttielve nlonths after the reporting date. Foreign exchange Transaciioms in""foreign cu¥reoctes are recorded at the rate of erchauge atthe date of-thelransactii)n.. Monètary as.set and liabilili¢s deriomioaied in foreign currencies al the balaace shett "date are reported at the. of preiTailinv t ihat dai Tlie res(ilts olover4ras operation5 are translated at the ai'.grn¥c rates ofexchttnge dutwI"g"Ihe period and their balance heel% at the rates n)ling"at the balance sheel date. Exchange differeiicts aTiSing on translation of the. opening llet aiseL% an41 results of overse8S operlOn5 are reponed In other coii1prebSve income and aCMula[ed in ¢quily {atlributeO to llon-controlling toiere5ts a5.appropriate). OihLT exchknge differences Ore recognised in the StateMt of Financial .ACtltieS the period in which tliey krise ex¢ep ior. I l £Kehangè differèuce> o.n transactiODS entered" inio to hedgc cetfdill foreign turmicj risks. I"see abDi'e)" ?) e.xch3rrge th"ffcrences ansing on oains or losses otr non-moncw item% whith wt recogni8ed in other COIDprehensive.income" and 31 iii Ihe case of" the consolidated financial siatemellls. exchange differenees on monetary" iteius receii.'¢iblt fi'om or pBJal)le to a.foreign operzts.on for ivhsch SLJttlem¥rAt is neither p13nned nor likely io occur {sherefore forniing part uf thL net £nYe5tmeDt ill ihe lorelgn operdtionk ivhich are reco}ed in other comprehenblfv'e inc(•me 3nd report¢d uudL'r tquity- i und structure LllnrLslI'icted tocome fuadg arc genernl funds that ore al'ailahle foru%e. at the trustces discretioD in fitrtherdnctt ot" the obj¢cLives of"thegrotsp. D&%ii?nated tunds ore unrestrictd funds set aside for sp¢xifiL pu05& at the discretion of the trustc RL¥tTiCted incojne are ihoge donated for.use In a particular area or for specifie pu.10&e5, Ihe use uf ivhich 15 Te%iri¢ted to that &rea w purpo Page24
Chartered Instithtioll of cIF Engiueering SuTh"evors
Notes to the Financial Statements for the Year. Ended 29 Februar), 2024
l%inaucial illstrument5
C141ssifieolioiL
Fii?an¢ial assets.and finan81 liabilitie4 ate recogni ivhert thegroup becomes a party to the ci)nitaL2ual i)rovi%ions
ol'ilie i1meL
Fitjancial liabilities and equitv instrumcDLi are classified aordIn0 to the sub5tsDce of the contr8Ltsal 3rranL>¢uient
Lntered it..All cquits* instrument 1> ariv.conlract that ei'ideDces a rèi> dual inlere5t in the assets of d)¢ group after
deduL'tivg all of it> Imbilities.
ReLOXVition"lliid metssi!reméHÈ
.411 finau¢ial 35s&> and liabilitie% are ioiliallJ"measuroJ al tra]wctitin"price (includiiig ttansDction"cosL%). except for
thotse financial &ssets classified as ar fmir value through profit or los% which are iDitially measurcd al fair i'alue
(w,Iiich i%mOTmaUy the troiisactiott price excludinLI tran&icrioo Losts). ullle&5 the arrannement con5tituie$ 4 finantsing
tran.sJerion. lf.an aTrdngeMt c.on&ttituies a f nanetog trdnsaction, the fJnan¢i31 asset or fin&llcial liability is Lnea%ured
at thc iircseElt value of the tr
Chartered Institutton of Ciiql Engineering Suryevors Notes to the FiDancial Statements for the Year Ended 29 Febrnary 2024 Debt Debt intstrUment. wth.ich meet.lhe following.. colldiEions are sub5equeDtly meas7(red at" amonised cost. Using the ¢lf¢¥litr¢ )teSt nieth"od. (a) The corÈtr2ctual YeIE1.tO the hT)Ider is.lil a fixed amounr: (ul a p)sittve fed rate Dr a positive variable raie; oi" jiii} A eoiiibination of a posiiii'e ora neg8tiYe 'ed rale and a positive vanablerate. Ib! ThL Contrnci may pr.ovide forrepavmcnts of the Principal or the reluin tt¥ the holder {butnor boih) lo be lii)ked lo B single relevani observable" index. of gèneral price infl81ion of tb¢ currenov in Ikhich the debt inslruinenl deDoniÉnated.. ptovided such links are not lei'ernged. (cl The contract may provide for a deterniiD?ble Tr?rialion of the rettTrn to the holderduri&g the life Ofibe inrMent. proi'ided Lhai (i} thè rait satisfies condition {_al and the variatlOlJ 55.IlOt contingent fut4re elnts other than (l ) a chai)ge of a contractual 17ars&ble [81_2).10 prote¢l the holder a0alt credii d¢t¢rioration ofthe Issuor, {3) in lei'iets applied by a central banL".or aEisiug"fiDm change5 Tu rel¢Nwit tax&ion or law- or.(iil the rte, rate is a mHI'kLt raie (if inleresi and saiisfies.condition (a). {d) I'htre is no coutraclual proi."jblOD thal couliL bv itb ieIms, rt5ult in the holder losing the prinopal amollnt or any nlerL41 aEttibvtsble ttrthe cu1 period or priorperiod5. (e'l Contractual provision& that pernjit the i55uer to prepas a debt instrument orpeEmit Ebe holdcr to pui *[ baek. to Il)e issuLr beloTe maturii). are no.t contingent on tuture eK'ents, other than to protect the" holder ag4iJ¥l the eredil eterioratioll of the issuer or a change in CO"Drrol of the issuer, or to protect" the holder or isxuer tgain%l chdngtts iii levies applied by a central banL or ari5iog fr(ll cbanges in rele.vam faxarion or laii". {1) L~outractual.proTrisiDtis may pennit Ihe extension of the terni of thc debt inStru"meht: protrided thai the rettirn to Ilic boldLT and 8n>" oiher coatrdctual proN"laiolls applicable duriDO the extended "i¢rnJ 57tth ibe conditions of iTraiAgkraphs (a) to (c.). Debt illstrnments ihal are. c.lasstfied as payable or receii'able w'ithin ODe vear. on tllllial recognition 8nd.vhi¢h meet lh¢ 1< boi'e conditions are measured ai the. undiseounted amounr of the cash or other considerdiion ¢¥peaed to he paid or received, net of impairn)ent. With the exception of some hedgin¢F instrumaits, other debt ir&%trumeDts Dof likefflin(T these cooditions are meifured at fair value thToyglLprofit or loss. Con1Initm to maL-e"aud Tee.eiYe loans which meet tbe Lryjnditions mentioned?boYe are measured at cost {Ivhicli may b¢ nilj less impairn?enL liifv'c.¥tmeniS Inve%Émenis in Don-confvtrtible prefffence shares attd non-puttable ordinorys orp.reference shates (iyhere shil fls #re piibliLlY rraded or Iheir fair"&e is reliabli. measurnble) are measured at fair N'alue througb profil or loss.. Where fair 171u¢ cannot be mthts-ured r¢liablJ, Inve51ment& Art measured aLcost less illjpainneni. Initre4tments. in 5Dbsidiaries and associale5 aTe measured at ist less imp3iTment. For inV&%1men in siib¥idiarie aciiuirLd for cousideralion incllldln the issue of 5bare% 4ualifving for mergerTeli¢(.cost is Mured by refcrence tL the. nomin&l value of the shartS issued plus fair I'alue of other CO%]de[an0n. Any preniium Trs ignored. Page 2%
Chartered Institution of Cil'i] Engineenng Sun'eyors
Notes to the Fjnaneiat Statements for the Year Ended 29 Februar) 2024
D#rrt'niiiYfiiiunciul Instruments
The ¥roup uses" derivatikt finftncial instrllments to reducc exp05ure..ro foteigD. excbauge risk a#d iniere5t rnte
Inovements. The gmup doL5 not holdor issut deF51.1ve fiJ]ancial instrulllents for bpe0ulatlvepu0str.
DLrii'alives are initially rccogoised at fair 18lue ai the dale a dèri%'atifv"e Colltrdct is entered into.èlld are siilJseLiuently
?'Lii)easured lo.theiY fairi.alue at each reponing dat& The resulting gaiu or Ioss iS..Fec()gDis¢d in 51at¢meiit t)f financial
aciivilies imin¢dialel unless the d¢ti,e 1> de%ign31ed and effeciiTre"as a hedging iDstrumenL in which Lvent Ihe
i jTriutp of.the ¥ecogniti"onin swteffieDt of financial activitids depends oo the Dature of the hedgerelauonship.
The b¢51 ev.idenct of fair i•lu¢ is a quotthl price for an identical &%set in ao a¢t1vEThaTkeL.whe quoitd price4 al'e
LifEaVatlabl& the price" of a ieceiil trnnsactt¢JD for an iikDti¢al puivides thidènce. of frdir N*lue as long
Chartered. Institution of Civil Engineering Surveyors Notes to the. Finaneial.Statements for tbe Year Ended.29 February 2024 4 Investment illcome Unrestrieted funds General Tot#1 2024 Oiher income Ine.ott]e. fronTr rents 16,5.51 4.09_7 20.644 LI41Cted funds General Total 2023 Olher iAI'e5tment inc(Kne Income froTn" rents" 4,727 8.688 8.(J88 5 Li xpenditure OD charitobleactivities restricted fuDd5 General Total 2024 ExpendÈ¥iire OD the advanc¢menl of ihe. science aDd art of Cli'"il EngiDeering SurYe¥'iJrg AdLrti%jng.4nd training P¢r4onnd AdminisÈrntio Pren7itses Miscellaneous Depr¢¢i&tion 158.282 1.58,2S? 673.728 99.511 94.415 671.7?8 99,411 3:1.402 1.156.0?8 31,402 l.l.f6.11•4
Chartered Instittitlon of Cii4R Ellneering Surve.v.ors 14otes to the Fiffancial. Statements for tbe Year Ended 29 Febrnary 2024 L:nrestricted fnnds General 2023 rNpendAiurc on."the adin¢èment of the..science and art of Civil EnoiDeer4n Su¥N'eying Ad&trtiJing ai)d.training pers(>¢1 .Admini%tration Premi.ses ,Mi8¢ellwheous DeL)re£iation 144,214 596.03 liQ461 64J5i 3@95? -i(j,()52 13,8311 1.113l,717 1.031.717 In addition to the. pendI(ure analvsèd aboe, there are a150 qOTrtEtwice costs of L27,(M8 1?"0?3 _ £21,901"I Ivhich rclait Jirec.tly to eharitsble ae.tivities. See note 6 for fijrther det&kl5. 6 Amalysis ofgovèrnanee.8Hd supporl costs Go¥trnaiice costs l!llrestri¢tèd funds Gelleral Tot81 2024 AiidiÉ feek Audit of the finanua] 51atements" Otl?er fees paid to auditors Oihcr governance costs 8.081 7.?81 27.U48 Unreslrieted funds Geueral TDtAI 2023 Audit fces Audit ol'the financial statemen ()ther tee paid io auditor> Odiei. bioi'crnance cos 7.1 (1 31.001 71.001
Chartered Institution of Cii7il Engineering Surveyors Notes to the Fillancial SÉatements for the Year Ended 29 Febrn 2024 7 N'et incomtngloulgoing resource5 NLt incomin'{ovIEO1Dg) resources for the year include: ?024 2023 Iludil fe&• Other no1)dIt servitts Loti% on tlispo%al o"f"tangible fixed as'sets DepreLiatioD of fixed a5seSS 8.083 7.?81 1.236 iO.166 23,8.?1! 8 Trustees remulleration and eipen5e5 N'.0 tru4t. J]or any petsons c(Innected ii'ith them_ hal'e receii'ed aDy remunerdliortfrom the. group during the >ear. N'o Iriisfees ha!Te received any reimbutsed expen.sts or any other ben"efits" from the chariiy during thevear. 9 St&ff costs The yE¥.e8Èe payroll costs wère as tollows: 1.he monthlv ai'ernge number of p¢Thons lincludin£ sellior manaEaneDf.K lèadet5hip team) emploiod b>- the group during the".yw expr&%sed as fv"Il time equii¥alcnts B'as as folloiv&. 2024 2023 .,Xdm%llistion and bupfK)IT 14 12 The iiumber of employees wthose. emolurrients fell ivithin the folloThine band5 11.7s: 2024 2023 £70,1]01- £80.IM)U 10 Aiiditors. Temllneration 2023 Auilit of.the fiDancial statements 8.083 Other fees to auditOf5 .411 othernon" audit ser4.ices 7281
Chartered Illstitutioll of Ci141 Engineering SHn'c}Fors Notes to tbe Financial Statements for the Year Ended 2.9 FebrnaTV 2024 I l T&¥atioa "riiL group is attgistered ¢harii}' and is therefore eAeropl fro taxatio l? Tanyl>le fixed assets Group Land Jnd bvildiDgs Furnithre and equipmellt Total .41 l March 2023 Additions Disp(Fsal% 13?.J89 20,888 1,38? 389 4).*9%) A i 29 Februarv"7024 107.679 1,757 67() Depreciation At l Cbarge for the year E-'liminated disposal?1 10? 363 IOJ57 (43.119) 1É>4.8()_I 29,107 4a,119) Al 49 February 2024 69.601 350.851 'et book i'alue 968.750 78.078 1.1106.8" At 78 Febary ?JJ?3 987.5(X) 1,017,5?6 Page 30
Chartered Institution of Civll Engilleering Surveyors Notes to the Financial Statemeuts for the Year Ended 29 Febrnary 2024 Ch#rits Land 2nd building¥ Furniture and equipment Total 1.250.000 134.389 0.888 45.598} 138? 189 A(Iditions DiSPOSI11s 4Th 5(J8) 1.2iO.000 107.679 l.J57.679 DepreciAtlon At l March ?O7- 3 hai'bye. foF the year Eliminllted VD disposals At ?9 Febn3an. ?0?4 IOL36) 10.357 43.119) 364,81)3 29,ID7 4J,119} 18.750 9.601 3508Jl Net book value At ?9 Fcbruary 2024 •S February. ?0?3 968.750 38.078 l.U(J6.142S 987.iOO 30.026 1.{117,)*6 Include withio thcnd b(k value of land and building> aknve is £968,-150 I202) - £987:493) io ra5pect of freehold land and buRldings apd £hfjl (?L. - £Nil) ID re>pect of lusebold¥'. ,111 tangffible fLxed asets wiere used for ch8r5table. purpo&e.s. breehold land and buildinS were valued on an open market bagib on 14 Septen)ber 2(109 bv 8cmlark Ll.P, Cbariered S"urveiors. The Tnstetts are ofihe opinion that the matketvalue bas not cha.nged since ih.js date, 13 Fised 055et inyestrients Cjroup 2024 2023 %lJares in oroup undertakingi and parttcipaungintetLSt% 111.958 111.96? Details of undertaking5 DetAFlt of"thG invesunents io i&hich thc group.holds ?O)rfO or tnore of the nominal iylue.of 8n>' class of shai'e capital are as lollow"s". Page31
Chartered Institution of CiTril Engineering Surveyors Notes to the Financial Statements for tbe Year Ellded 29 Febrllarv 2024 Country of incoryoratio PToportion of voting rights and shares held Principal activity iiidertaking HoldiFJg 2023 Sul)sidiary undertak-in Publications. adi'erlising, Suiro Limited England and Wales OrdinaTr share Lxpital corlerelictt. Joint Yentures Ordinarv share capital conducting BK Surco Limited Hong Kon 5(V. consknwction Subsldi#riEs 'riie loi5 t.or the..financiftl p¢rÈod of Surco L.iFnited was 11 S:S8?1?01. _ £.66.298) and {heaale amowit ofuai)itAI 3rnd re%eTr"'es at thea of the period ivas £(?9? 8(W) 12023 - L(.280.92?}). .loint ventures The sul)sidiary Surco.LimiletL oins 50Yo of the ordinaTr Sh witsl of BK Surco"L.imiial i¥hich Is registered in 14()ng. Its regi5tered."office. is Suite l 901 fj 19ih floor, IltspLi'ell 1.83 Queen"s R{)ad I'"%lSi: IY<iii¢h¢li. 14ong Kong and its" princip81 i5 conduclintr seiniiiarty on COD5iruction managemeni. 14 Stock Gronp Charity ?024 2023 2024 700 700 200
Chartered Jnstitution of Civil EllDeerig S.urvevor&
Notes to the Financial Statements for the Year Ended 29 Februar) 2024
15 Debtors
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2024
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2024
2023
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Chartered Institittion of CiTril Engineering surn.0T5 Notes to the Finaneial Statements for tbe Year Ended 29 February 2024 18 Obligations under1&7se5 Und hire purchase eontrnct¥ Operalfng lease commitments 'rotèl fulrein1 lease pajments undernon-caDcellable operating lease5 ate.as follows: Group Charitt. 2024 7023 2024 20?.3 Other Wiihth one year BetiK"'eeo one and fil-e yea After fii""e years ?9.048 6.91) 6.91* 6_915 37.149 Page 34
ChRrtercd.Institirtion ofcivil EngineeringSuThrYo to the Fmancial Ststemwts for the Year Eoded29 FebruarY2L4 Ciruup larth 2023 expend¢d gal1*} &L'hruao' 2024 L.511'ictca Griieral O¢Dal I""utx 11.194.726) SL?79 1,931,621 Je.¥l¥lTur¥d 1.97J.48] Cl 195.726 (6131 Tknttsl r&sirlclgd 1613j nther )71.4A5 ?71,41 Trfjlal furtds 2JK768 1.174.80? 1.19i..PJl 16131 Page 35.
ChaTrered.iDstitution of Ciiil E.gineer171g Survo•rs
hotes to.tbe FmaneRal Statcmcnts for the YeAr EHdcd29 F¢brn. 21L?4
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Cjwtered Institution of Cl¥il E.n%ioeeriug Survevors -oteS to tht vit1nl"stateM¢llts for the Year Ended.2"9 February 2024 'I'lic, Piic fut#l wts ¢stab]ithtO iY¢ 1981 pi7. (o studt2Trt5 it1}1R IT¥4Èwuom Thi&. Th'Js Iran¥fr£%% unT'L%Erithed full.dsiikitspttxofwi•pid4wiollhioitser¥e. C¥roup .b'nrt5tr1riril. 14Jt¥l funds JI 29 Pebryari, Gextrtil I.thK.828 614*J 1.0116,%?8 Fix¢d abSL't (".urrtni CuiTI'nl Itihiliti£>- 1.47? 1163249 }6_1.?4y t¥&1 fuJid.s st • Februar j1.34: IJIg58 1,01134? C.urreMt as¥ets- 32 Ji 1.411y,75? 1341.¥4(11 1-Olal nit8&¥eE5
Chartered Institution of Clvil Engineeringsurvel'ors Notes to the Finan1 Statements for the Year Ended 29 Februarv 2024 21 Related pThrtTr transactions roup 'rheTe ivere no related party tra05actions ia tbe vear. Charity Duringthe}'ur the chori. made the folloiying related partv trisaCtiOnS. Sureo Liniited {Subsi(]iary'} Diiring Èhe year ibe"ch8ritY proTrided and received ini.'oieed services from Surm Limired. At the balante sheei d£lt¢ tlie aML)u£ due to Surco L.imiled *as Il 1,6t)7 1?0?3 £Nil). Amounts written off in the.peTiod ip re.4pect ol ainount5 due to or fmm Telated parties was £Nil (2023 - £1 (lJ.¢ IS). Page 78