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2025-12-31-accounts

Incorporated by Royal Charter Charity Registration No. 1145678 Royal Charter No. RC000851

ANNUAL REPORT AND ACCOUNTS

of the Council of the Institution of Engineering Designers 1 January 2025 to 31 December 2025

Incorporated by Royal Charter Charity Registration No. 1145678 Royal Charter No. RC000851

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025

THE INSTITUTION OF ENGINEERING DESIGNERS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees at as 31 December 2025

Professor K Bond BEng(Hons) PhD CEng FIMechE FIED MIET[1] D T H Castle IEng RCADMan FIED(PCh) MBCS CITP (Immediate Past Chair)[2, 3] T N Channell MEng CEng MIED D Farrell BSc(Hons) MTech CEng CTPD FIED J Harrison-Furse BA(Hons) EngTech MIED[6 ] P Jeffries MEng CEng MIED A T A Keegan CEng FIED(PCh)[2] M Lynch BSc(Hons) MSc CEng MIMechE MIED[5] Dr M Mohammed EngD MPhys MIED[5] Dr E Pei BA(Hons) MSc PhD CTPD CEng CEnv FIED A Penn BSc(Hons) MSc CTPD MIED[3, 5] N Phelps IEng MIED MIET[2, 3] J Roberts MEng CEng MIED[ 5 ] Professor P J Sewell BEng(Hons) PGCert PhD MIMechE FHEA CEng FIED[1, 2] E Tarrant BSc(Hons) STEM EngTech RCP MIED R Timbrell CEng MIED (Vice-Chair)[2] Dr G A L Tizzard BSc MPhil DIC PhD MIEEE CEng MIED FHEA (Vice-Chair)[1, 2] I Treacy BA MSc IEng MIED MIET Eurlng S P Vaitkevicius BEng(Hons) MSc CEng FIED (ViceChair) Dr B Watson MDes(Hons) PhD LCGI CEng CEnv CTPD FIED R Yuen MEng CEng FIED MICE MAPM (Chair)[2]

Trustee & Honorary Treasurer

S J Benfield CEng CEnv CTPD FIED(PCh) MAPM[2, 3, 4, 5 ] 1 Education and Training Committee 2 Membership Accreditation Board 3 Membership Committee 4 Editorial Committee 5 Inclusion, Equity and Diversity Committee 6 Communications Committee

Secretary Mrs E K Meyrick BSc(Hons) FRSA Charity number 1145678 Principal address Courtleigh Westbury Leigh Westbury Wiltshire BA13 3TA Independent Examiner Martin Gurney FCA Haines Watts Swindon Limited Old Station House Station Approach Swindon Wiltshire SN1 3DU

THE INSTITUTION OF ENGINEERING DESIGNERS

LEGAL AND ADMINISTRATIVE INFORMATION

Bankers Lloyds Bank
64 Fore Street
Trowbridge
Wiltshire
BA14 8EU
Solicitors Thrings LLP
6 Drakes Meadow
Penny Lane
Swindon
Wiltshire
SN3 3LL
Accountants Haines Watts Swindon Limited
Old Station House
Station Approach
Swindon
Wiltshire
SN1 3DU

THE INSTITUTION OF ENGINEERING DESIGNERS

CONTENTS

Page
Report 1 – 8
Statement of Responsibilities 9
Independent Examiner's report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the accounts 13 - 24

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees present their report and the financial statements for the year ended 31 December 2025.

The accounts comply with the Charities Act 2011, the charity's governing document and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Structure, governance and management

a. Constitution

The charity is controlled by its governing document, the Royal Charter, By-laws and Regulations.

The trustees who served during the year were:

S J BenfieldCEng CEnv CTPD FIED(PCh) MAPM (Councillor and
Honorary Treasurer)
Professor K BondBEng(Hons) PhD CEng FIMechE FIED MIET
(Councillor)
D T H CastleIEng RCADMan FIED(PCh) MBCS CITP (Immediate Past
Chair)
T N ChannellMEng CEng MIED (Councillor)
D FarrellBSc(Hons) MTech CEng CTPD FIED (Councillor)
J Harrison-FurseBA(Hons) EngTech MIED (Councillor)
P JeffriesMEng CEng MIED (Councillor)
A T A KeeganCEng FIED(PCh) (Councillor)
M LynchBSc(Hons) MSc CEng MIMechE MIED (Councillor)
Dr M MohammedEngD MPhys MIED (Councillor)
Dr E PeiBA(Hons) MSc PhD CTPD CEng CEnv FIED (Councillor)
A PennBSc(Hons) MSc CTPD MIED (Councillor)
N PhelpsIEng MIED MIET (Councillor)
J RobertsMEng CEng MIED (Councillor)
Professor P J SewellBEng(Hons) PGCert PhD MIMechE FHEA CEng
FIED (Councillor)
E TarrantBSc(Hons) STEM EngTech RCP MIED (Councillor)
R TimbrellCEng MIED (Vice-Chair) (Elected as Vice-Chair 12 July 2025)
Dr G A L TizzardBSc MPhil DIC PhD MIEEE CEng MIED FHEA (Vice- (Elected as Vice-Chair 12 July 2025)
Chair)
I TreacyBA MSc IEng MIED MIET (Councillor)
Eurlng S P VaitkeviciusBEng(Hons) MSc CEng FIED (Vice-Chair)
Dr B WatsonMDes(Hons) PhD LCGI CEng CEnv CTPD FIED (Resigned as Vice-Chair 12 July 2025)
(Councillor)
R YuenMEng CEng FIED MICE MAPM (Chair)

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

b. Method of appointment or election of Trustees

The Officers of Council - Chair and Vice Chairs - are elected annually by the Council. An election to Council is held annually in which up to one third of Council are obliged to stand down. They may be re-nominated by Council. Any three Corporate Members may also nominate a qualifying Corporate Member. A postal ballot of all Corporate Members is held where the total number of nominations exceeds the number of vacancies.

The appointment of officers and election of Council is governed by By-laws 40 to 46 of the Institution's governing document. The Honorary Treasurer shall be elected to the post annually by Council.

c. Policies adopted for the induction and training of Trustees

New members of Council are inducted with the appropriate NCVO guidelines.

d. Organisational structure and decision making

Organisation and Structure

To ensure the efficient use of the elected Councillors a Board and Committee structure is in place which involves the commitment of as many of the elected Councillors as possible in the ongoing affairs of the Institution. A small permanent staff headed by the Secretary is employed by Council to deal with the day-to-day administration of the membership, Engineering Council registration matters, the publication of the Institution's journal Engineering Designer, financial matters and the administration and organisation of its course and conference activities.

Events since the end of the period

Information relating to events since the end of the period is given in the notes to the financial statements.

Staff

As the financial year closed the Institution employed five full-time and four part-time members of staff, including the Secretary. Mr David Osborne - Accounts Officer, Mrs Linda Parry – Membership Officer, Mrs Nadine Pearce - PA to the Secretary, Mrs Jo Winslow - Education and Training Officer and Mrs Denise Watson - Administrative Assistant, Miss Molly Kerr and Mr Harrison Stocker - level 3 apprentices, Ms Eleanor Fosberry, Project Courtleigh Manager, continue to give the Institution invaluable service.

The Secretary's remuneration is set at annual review by the Trustees.

Wider network

At present the Institution does not consider itself to be part of a wider network.

Engineering Council/EngineeringUK

The Institution's relationships with the Engineering Council and EngineeringUK remain the most important of all its relationships with other charities and organisations. The Institution continues to work closely with both bodies, EurIng Simon Vaitkevicius and Mr Neil Phelps represent the Group B college on the Engineering Council Board and other members of Council represented the IED as Liaison Officers and on the Engineering Council's Quality Assurance Committee (QAC).

The Design Society

The Design Society is an international body dedicated to promoting the best in design practice and education. The Institution has co-operated with the Society in the past and the two bodies again came together to collaborate during 2026 as partners in the very successful Engineering and Product Design Education Conference, hosted by University of Malta.

The Royal Academy of Engineering

The IED continues to work to the Diversity Concordat, with a view to working towards encouraging membership from a wider range of backgrounds. The Secretary also sits on the ‘Professional Engineering Committee' administered by the Academy and the Academy’s National Engineering Policy Centre. In addition, members of the IED contributed to reports drawn up by the Academy during the year and the Secretary concluded her role as Chair the EECG (Engineering Ethics Coordination Group), an ongoing project overseeing the implementation of the recommendations of a report into ethics in engineering.

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

The Society for the Environment

The Institution has a licence to award Chartered Environmentalist (CEnv) and Registered Environmental Practitioner (REnvP) status to suitably qualified and experienced members. A volunteer member continues to serve on the Council and Registration Authority of the Society.

e. Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Key risks include: IT breaches, loss of licences from Engineering Council and Society for the Environment, loss of key members of staff, loss of tenants at Courtleigh, lack of income from sponsors, seminars or registrations, fire or flood. These and other risks are included on a risk register, with mitigation, actions, response and responsibilities allocated accordingly.

Objectives and activities

a. Policies and objectives

Mission Statement

We work to inspire, develop and promote professionals working in engineering and product design. Setting standards and competencies for our members who advance and progress society by providing technical products and solutions.

Objects

The main objects of the Institution are to:

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Notes:

  1. The remaining supporting objects are printed in the Royal Charter of the Institution, a copy of which is available on request from the Institution's Headquarters tel: +44 (0) 1373 822801, email ied@ied.org.uk and on the website www.ied.org.uk.

b. Strategies for achieving objectives

Strategy

The Institution's Strategy Document is updated on an annual basis following review by the Council. This document provides the basis from which the objectives in the Mission Statement are developed for the furtherance of the Institution

Risk review

The Council has conducted its own review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Significant external risks to income have led to the development of a strategic plan

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

c. Activities for achieving objectives Significant activities

The following projects were progressed:

d. Volunteers

Other than trustees, assessors and committee members the Institution does not rely on volunteers.

Achievements and performance

a. Review of activities General Progress

Objectives

The main objective for 2025 was to continue to provide membership and registration services and support to IED members. The development of the Communications Committee and employment of the apprentices is aimed at addressing some of the challenges of attracting and retaining members.

Membership

The fluctuations in membership over the period covered by this report are as follows:

Dec
2025		 Dec
2024
Fellows 143 141
Members 1,145 1,200
Students(includingOU) 2,027 1,868
Affiliates 10 11
Associate 33 61
Total 3,358 3,281

Efforts are being made to attract more Member grade professionals to replace those coming to the end of their careers. A new, more personalised, method of signing up students from accredited courses has been introduced which is proving popular, and will create a more personalised relationship with students. The new method is also more GDPR compliant.

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Continuing Professional Development

The 'MyCareerPath' CPD scheme run by the Engineering Council has been available to IED Members since 2013 with all new members encouraged to enrol. The competencies for MIED, CEnv, REnvP, CTPD and RProdDes have been uploaded to the system. The Engineering Council have introduced mandatory CPD monitoring for all PEIs. The IED developed a monitoring and feedback process to meet this requirement which was further refined in 2025. 10% of registrants were randomly sampled and asked to provide up-to-date CPD records for the previous 12 months, of these 10% were reviewed by the Membership Committee and feedback given to responders. This is in addition to all CTPD, RProdDes and CEnv registrants who are obliged to submit CPD records annually.

Publications

A further four issues of Engineering Designer were published during the period covered by the report. Once again the policy has been to publish as many articles written by members as possible covering a wide range of subjects. In addition to automatic circulation to its members the magazine remains available by subscription and is circulated free-of-charge to a number of educational establishments. The publication is available electronically to all members including those who live internationally and non-paying students. In addition to the four printed copies there were also 12 monthly digital publications, available online to members and the wider public, as well as weekly digital newsblasts.

Charitable activities

The following activities took place:

The IED works with a number of other bodies to further the promotion and development of Engineering and Design:

Other Activities

The Institution either ran or participated in the following events during the year:

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Awards and Prizes

The Institution continued to run the IED Prize aimed at accredited Degree and HNC/D graduates. 29 Individual Prizes were awarded during the year. In each case the nominated student/graduate had to show that he or she had attained outstanding results on their chosen course, with particular reference to the design related subjects within the course.

The IED collaborated with the David Peacock Trust in 2025, to distribute funds from the trust to Masters level design students. Nine grants were awarded during the year.

The Institution's annual awards were presented following the AGM at ThinkTank Birmingham Science Museum.

The Institution's most prestigious design award, the Gerald Frewer Memorial Trophy was awarded to Professor Eujin Pei for his contributions to developing and advancing additive manufacturing.

The Hornsby Cup, given for the best article published in the Institution's magazine during the previous year, was awarded to Dr Lee Styger for his article ‘Cracking the Great Plastics Swindle’ which appeared in the October 2024 issue.

The Chair's Award was presented to Molly Kerr in recognition of her enthusiasm and competence in her apprenticeship at the IED.

Six medals of appreciation were awarded:

The Promotion of Design Award is presented to an individual or team for their work in promoting engineering design to a wider audience. The Award for 2025 was presented to Dominic Chinea and Steve Fletcher of ‘The Repair Shop’.

The Geoff Kirk Young Members Award is aimed at recognising promising new members starting on a career in engineering design. The 2025 winner was Thomas Lemon.

The Kathbert Trophy, awarded to the most promising new member, was awarded to Oliver Morgan.

The Alex Moulton Award is awarded to recognise outstanding innovation. The award was not presented in 2025.

The Founders Award was presented to Richard Timbrell in recognition of his service as the first ‘Project Catalyst’ volunteer.

The Hills Millennium Award was awarded to Professor A Balasubramaniam from India.

Three new awards were presented for the first time in 2025:

The Sustainable Design Award was created to acknowledge innovation in sustainability, with the inaugural winners ‘Design for Good’.

The Inclusive Design Award is aimed at providing and celebrating design, with the winners of the first ever award ‘James Leckey Design’.

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

The Colin Ledsome Award, founded in memory of the former Chair and great promoter of the joy of engineering and design, was presented to Rob Bennett.

Full details of the awards celebration appeared in the October issue of Engineering Designer .

Volunteers

The Institution continues to rely heavily on member volunteers to assist in its activities, particularly in the following areas:

The membership database contains details of those members who are trained to undertake interviews of potential and existing members or who act as mentors in respect of the following requirements:

There are 16 volunteers on the Membership Committee and 19 volunteers on the Education and Training Committee.

b. Investment policy and performance

The trustees are currently satisfied with the investment performance of the assets and at present do not have any plans to expand its portfolio or feel it necessary to dispose of those currently in use.

c. Factors relevant to achieve objectives

The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.

Financial review

a. The Statement of Financial Activities (page 11) shows that for this year there was a deficit of £(115,671) (2024: deficit £(40,285)).

Total resources expended amounted to £425,104 (2024: £337,246).

b. Reserves (restricted and unrestricted)

Total reserves amount to £514,916 (2024: £505,587). General reserves (excluding restricted and endowment funds) stand at £491,102 (2024: £489,773).

It is the IED's policy that unrestricted funds not presently committed or invested in tangible fixed assets should not be designated for specific future expenditure.

THE INSTITUTION OF ENGINEERING DESIGNERS

REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Restricted reserves stand at £23,814 (2024: £15,814).

Unrestricted reserves stand at £164,821 (2024 £287,952) of which £500,731 (2024 £503,284), excluding the revaluation reserve (see below), are held as fixed assets with the balance represented by net liabilities of £(333,898) (2024: £(168,687)).

As can be seen from the above, free reserves (unrestricted reserves not tied up in fixed assets) are currently in deficit. The Trustees have a three-tiered plan to address this situation, with management of expenditure to help minimise the immediate gap, intermediate plans to realise some of the assets that are within Courtleigh and longerterm plans to raise capital for the development of the Institution in the not too distant future.

The financial statements have been prepared on a going concern basis. The timing of receipts of subscription income means that working capital requirements can fluctuate significantly during the year. The Institution has access to both short term (overdraft) and medium-term funding (loans) to address this. It also has longer term (realisation of asset) plans in place.

c. Revaluation reserve

The revaluation reserve represents an unrealised gain on the revaluation of the freehold land and buildings. The reserve is £201,821 (2024 £nil). The freehold land and buildings of £825,000 comprises £535,921 cost and £164,079 revaluation of cost.

Total fixed assets of £702,552 (2024: £503,294) comprises £500,731 of assets at cost net of depreciation (see above) (2024: £503,284) and £201,821 (2024: £nil) unrealised revaluation surplus.

d. Principal funding

The Institution's principal source of funding is its subscriptions from its members.

Plans for the future

Future developments

The staff, Trustees and wider volunteers at the Institution are working hard on a number of initiatives to improve the services to the membership, to promote professional registration, attract new members and improve communications, as listed in this document previously. The expected fruition of Project Courtleigh will help towards funding these activities and volunteers are actively being recruited to help with the development and delivery of the projects.

Gift Aid

The Institution approached members asking them whether they would be prepared to sign a gift aid declaration so that income tax relief could be claimed on their subscriptions, Benevolent Fund contributions and Education Fund contributions

On behalf of the board of trustees

.............................. Mrs E K Meyrick BSc (Hons) FRSA Secretary

Dated: .........................

THE INSTITUTION OF ENGINEERING DESIGNERS

STATEMENT OF RESPONSIBILITIES

The trustees are responsible for preparing the Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE INSTITUTION OF ENGINEERING DESIGNERS

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE INSTITUTION OF ENGINEERING DESIGNERS

I report on the accounts of the charity for the year ended 31 December 2025, which are set out on pages 11 to 24.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of the ICAEW.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

......................... Martin Gurney FCA Haines Watts Swindon Limited Old Station House Station Approach Swindon Wiltshire SN1 3DU

Dated: .........................

THE INSTITUTION OF ENGINEERING DESIGNERS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2025

Unrestricted
Restricted
Total
funds
funds
2025
Notes
£
£
£
Incoming resources from generated funds
Donations and legacies
2
261,638
10,000
271,638
Activities for generating funds
3
29,257
-
29,257
Investment income
4
-
-
-
290,895
10,000
300,895
Incoming resources from charitable activities
5
8,538
-
8,538
Total incoming resources
299,433
10,000
309,433
Resources expended
6
Costs of generating funds
Costs of generating donations and legacies
236,894
-
236,894
Net incoming resources available
62,539
10,000
72,539
Charitable activities
Other costs
186,210
-
186,210
Benevolent Fund
-
-
-
The David Peacock Trust
-
2,000
2,000
Total charitable expenditure
186,210
2,000
188,210
Total resources expended
423,104
2,000
425,104
Net income/(expenditure) for the year
(123,671)
8,000
(115,671)
Transfer of funds
17
-
-
-
Net movement in funds
(123,671)
8,000
(115,671)
Fund balances at 1 January
287,952
15,814
303,766
Fund balances at 31 December
164,281
23,814
188,095		 Total
2024
£
247,235
34,652
-
281,887
15,074
296,961
176,426
120,535
158,180
2,640
-
160,820
337,246
(40,285)
-
(40,285)
344,051
303,766

THE INSTITUTION OF ENGINEERING DESIGNERS

BALANCE SHEET

AS AT 31 DECEMBER 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 14 825,000 702,552
Current assets
Stocks 4,474 4,474
Debtors 15 - 2,813
Cash at bank and in hand 14,602 14,702
19,076 21,989
Creditors: amounts falling due within
one year 16 (329,160) (218,954)
Net current (liabilities)/assets (310,084) (196,965)
Total assets less current liabilities 514,916 505,587
Income funds
Restricted funds 17 23,814 15,814
Unrestricted funds 164,281 287,952
Revaluation reserve 14 326,821 201,821
514,916 505,587

The accounts were approved by the Trustees on .........................

..............................

Mrs E K Meyrick BSc (Hons) FRSA Secretary

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

1.1 Basis of preparation

The Institution of Engineering Designers is a registered charity in England / Wales established under Royal Charter. The address of the registered office is given in the charity information at the start of these financial statements. The nature of the charity’s operations and principal activities are set out in the Trustees Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 1A) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charites Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements have been prepared on a going concern basis. The timing of receipts of subscription income means that working capital requirements can fluctuate significantly during the year. The Institute has access to both short term (overdraft) and medium term funding (loans) to address this. It also has longer term (realisation of asset) plans in place. Accordingly the financial statements have been prepared on the going concern basis.

1.2 Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

1.3 Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resource.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

1.4 Tangible fixed assets and depreciation

Freehold land is not depreciated

Freehold buildings

Plant and machinery

nil

at varying rates on cost

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.5 Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6 Stock

Stock is valued at the lower of cost and selling price less net realisable value.

1.7 Pensions

The charity operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.8 Funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

1.9 Debtors

Trade and other debtors are recognised at the settlement amounts due. Prepayments are valued at the amounts prepaid.

2.0 Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

2 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts (including Gift Aid)
21,713
9,000
Subscriptions and membership income (see below)
239,925
-
261,638
9,000
Subscriptions and membership income receivable
Unrestricted funds:
Subscription and fee income from members
Members joining fees
Accreditation fees
3
Activities for generating funds
Activities for generating funds (rent, journal advertising etc)
Net Activities for generating funds
4
Investment income
Bank interest		 Total
2025
£
31,713
239,925
271,638
2025
£
215,840
10,763
226,603
13,322
239,925
2025
£
29,257
29,257
2025
£
-		 Total
2024
£
29,424
217,811
247,235
2024
£
192,198
13,361
205,559
12,252
217,811
2024
£
34,652
34,652
2024
£
-

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

5
6		 Incoming resources from charitable activities
2025
2024
£
£
Seminar and course income
8,538
15,074
Total resources expended
2025
2024
£
£
Costs of generating funds
Costs of generating donations and legacies (note 7)
236,894
176,426
Included in costs of generating funds are Project Courtleigh costs which have increased and are as shown in
note 11.
Charitable activities
2025
2024
£
£
Other costs
Activities undertaken directly (note 8)
83,401
80,657
Grant funding of activities
-
-
Support costs (note 11 – investment, governance & education)
102,809
77,523
Total
186,210
158,180
Benevolent Funds
Costs
-
2,640
The David Peacock Trust
Costs
2,000
-
188,210
160,820
425,104
337,246

Included in support costs are payments to the Independent Examiner of £4,230 (2024: £4,027).

Also Included in support costs are Project Courtleigh costs which have increased and are as shown in note 11.

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

7 Costs of generating donations and legacies (see note 6)

Costs of generating donations and legacies (see note 6)
2025 2024
£ £
Other costs comprise:
Advertising - 175
AGM/EGM expenses 8,476 3,967
Awards 2,033 1,339
Branch expenses reimbursed - -
Councillor expenses 54 940
Exhibitions costs 2,103 2,586
Marketing & promotions - -
New members expenses 1,338 494
Secretariat expenses 1,419 1,187
80thAnniversary 1,668 -
Support costs (note 11 – including Project Courtleigh) 219,803 165,738
236,894 176,426
Project Courtleigh costs have increased and are as shown in note 11
Activities undertaken directly (see note 6)
2025 2024
£ £
Other costs relating to IED comprise:
Journal publishing costs 50,659 52,216
50,659 52,216
Support costs 31,910 24,053
82,569 76,269
University accreditation costs 832 4,388
83,401 80,657
Grants payable
2025 2024
£ £
IED - -

8 Activities undertaken directly (see note 6)

9 Grants payable

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

10 Support costs (see note 11 for detail)

Support costs (see note 11 for detail)
Administration (including Project Courtleigh)
Staff costs (note 13)
Depreciation		 IED
Restricted
funds
£
£
137,918
-
216,604
-
2,552
-
357,074
-		 Total
2025
£
137,98
216,604
2,552
357,074		 Total
2024
£
89,563
177,751
2,553
269,867

11 Support Costs – allocation

Description
Costs of
Generating
Voluntary
Income
Investment
Management
Costs
Governance
Costs
Educational
Schemes
Percentage
62.00%
0.50%
1.50%
27.00%
£
£
£
£
Accountancy fees
1,527
12
37
665
Bank charges
4,917
40
119
2,141
Computer equipment depreciation
1,582
13
38
689
Computer expenses/IT support
6,421
52
155
2,796
Employer’s National Insurance
8,074
65
195
3,516
Employer’s pension contributions
3,838
31
93
1,671
Equipment maintenance
-
-
-
-
Fixtures & fitting depreciation
-
-
-
-
General expenses
1,223
10
30
533
Insurance
3,367
27
81
1,466
Interest payable
2,783
22
67
1,212
Irrecoverable VAT under Partial
(866)
(7)
(21)
(377)
Legal & professional fees
2,631
21
64
1,146
Light & heat
17,331
140
419
7,548
Office refreshments
163
1
4
71
Postage
2,289
18
55
997
Printing & stationery
1,293
10
31
563
Project Courtleigh
29,314
236
709
12,766
Property maintenance
8,631
70
209
3,759
Rates & water
1,601
13
39
697
Staff training
820
7
20
357
Subscriptions payable
136
1
3
59
Telephone
345
3
8
150
Wages & salaries
122,383
987
2,961
53,296
Total
219,803
1,772
5,316
95,721		 Journal
9.00%
£
222
713
230
932
1,172
557
-
-
177
490
405
(126)
382
2,516
24
333
189
4,255
1,252
232
118
21
51
17,765
31,910

Continued on next page

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

11 Support Costs – total

Description
Accountancy fees
Bank charges
Computer equipment depreciation
Computer expenses/IT support
Employer’s National Insurance
Employer’s pension contributions
Equipment hire
Fixtures & fitting depreciation
General expenses
Insurance
Interest payable
Irrecoverable VAT under Partial Exemption rules
Legal & professional fees
Light & heat
Office refreshments
Postage
Printing & stationery
Project Courtleigh
Property maintenance
Rates & water
Soc. For Environment
Staff training
Subscriptions payable
Telephone
Wages & salaries
Total		 Total
2025
£
2,463
7,930
2,552
10,356
13,022
6,190
-
-
1,973
5,431
4,489
(1,397)
4,244
27,954
263
3,692
2,086
47,280
13,921
2,582
940
1,322
220
557
197,392
354,522		 Total
2024
£
4,027
6,647
2,553
12,295
8,925
4,247
-
-
1,561
4,180
1,245
867
2,329
18,572
219
3,717
2,128
6,174
18,229
1,988
-
604
2,132
96
164,579
267,314

12 Trustees

Except in relation to the appointment of a consultant for Project Courtleigh which incorporated a full due diligence process, none of the trustees (or any persons connected with them) received any remuneration during the year, but were reimbursed a total of £1,973 for expenses (2024: £1,851). This included £234 (2024: £18) in relation to accreditation expenditure £1,578 (2024: £0) for meetings and the remainder £161 (2024: £1,833) was for other expenditure.

Members loaned a further £135,000 (2024: £30,000) to the charity during the year as short-term working capital. Loan interest at 9.00% (2024: 5.00%) per month was payable on the loans. The loans outstanding at the year end were £165,000 (2024: £60,000). No other related party transactions took place during the year.

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

13 Employees

Staff Costs

Wages and salaries
Employer’s National Insurance contributions
Pension costs		 2025
£
197,392
13,022
6,190
216,604		 2024
£
164,579
8,925
4,247
177,751

There were no employees whose annual remuneration was £60,000 or more.

The average monthly number of employees during the year was 7 (2024: 7).

14 Tangible fixed assets

Land and Computer Fixtures and Total
buildings Equipment Fittings
£ £ £ £
Cost or valuation
At 1 January 2025 700,000 26,180 6,655 732,835
Revaluation 125,000 - - 125,000
At 31 December 2025 825,000 26,180 6,655 857,835
Depreciation
At 1 January 2025 - 23,628 6,655 30,283
Charge for the year - 2,52 - 2,552
Revaluation - - - -
At 31 December 2025 - 26,180 6,655 32,835
Net book value
At 31 December 2025 825,000 - - 825,000
At 31 December 2024 700,000 2,552 - 702,552

Included in land and buildings is freehold land of £165,000 (2024: £165,000). As part of Project Courtleigh, planning permission has been granted on part of the freehold property. In May 2025, the Trustees obtained a professional valuation of the land and property of £825,000 from Cooper & Tanner LLP, a member of the Royal Institution of Chartered Surveyors (RICS).

15 Debtors

Debtors
Trade debtors
Other debtors		 2025
£
-
-
-		 2024
£
2,813
-
2,813

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

16
Creditors: amounts falling due within one year
Accruals
Bank overdraft
Deferred income
Engineering Council
Loans from Trustees
Other creditors
Other taxes and social security costs
Trade creditors
VAT		 2025
£
4,230
62,676
-
35,603
169,717
48,872
5,548
920
1,594
329,160		 2024
£
4,027
60,409
-
36,103
61,684
15,652
3,521
24,027
3,531
218,954

The bank overdraft is secured by a fixed charge over the freehold property.

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at 1 Net movement Transfer Balance at 31
January 2025 December
2025
£ £ £ £
Benevolent Fund 6,814
-		 - 6,814
The David Peacock Trust 9,000
8,000		 - 17,000
15,814 8,000 - 23,814

Benevolent Fund – funded by donations from members and used to pay direct grants or, where specifically approved by Council, annual subscriptions on behalf of applicant members who otherwise cannot afford to retain their membership.

The David Peacock Trust – funded by the David Peacock Trust, and used to provide bursaries for students.

18 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted Restricted Total
£ £ £
Fund balances at 31 December 2025 are represented by:
Tangible fixed assets 825,000 - 825,000
Current assets (4,738) 23,814 19,076
Creditors: amounts falling due within one year (329,160) - (329,160)
491,102 23,814 514,916

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Detailed Income and Expenditure account
Income
Incoming resources from generated funds
Donations and gifts
Gift Aid
Members joining fees
Sponsorship and commissions (accreditation)
Subscriptions & fee income from members
Activities for generating funds
Journal advertising and non-member subscriptions
Rental income, room hire charges & sundry income
Investment income
Bank and building society interest
Incoming resources from charitable activities
Seminar and course income
Total Income
Expenditure
Costs of generating funds
Advertising & marketing
AGM/EGM expenses
Awards
Branch expenses reimbursed
Councillor expenses
Exhibitions costs
(Increase)/decrease in stock
Marketing & promotions
New members expenses
Secretariat expenses
80thanniversary		 2025
£
13,083
18,630
10,763
13,322
215,840
271,638
9,880
19,377
29,257
-
8,538
309,433
-
8,476
546
-
54
2,103
-
-
1,338
1,419
1,668
17,091		 2024
£
10,014
19,410
13,361
12,252
192,198
247,235
11,537
23,115
34,652
-
15,074
296,961
175
3,967
1,339
-
940
2,586
-
-
494
1,187
-
10,688

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Detailed Income and Expenditure account
Charitable activities
Journal publishing costs
University accreditation
Grants provided
Other resources expended (restricted)
Benevolent Fund
The David Peacock Trust
Support costs
Accountancy fees
Bank charges
Computer equipment depreciation
Computer expenses/IT support
Employer’s National Insurance
Employer’s pension contributions
Equipment maintenance
Fixtures & fitting depreciation
General expenses
Insurance
Interest payable
Irrecoverable VAT under Partial Exemption rules
Legal & professional fees
Light & heat
Office refreshments
Postage
Printing & stationery
Project Courtleigh
Property maintenance
Rates & water
Staff training
Subscriptions payable
Telephone
Wages & salaries		 50,659
832
51,491
-
51,491
-
2,000
-
2,463
7,930
2,552
10,356
13,022
6,190
-
-
1,973
5,431
4,489
(1,397)
4,244
27,954
263
3,692
2,086
47,280
13,921
2,582
1,322
220
557
197,392
354,522		 52,216
4,388
56,604
-
56,604
2,640
-
2,640
4,027
6,647
2,553
12,295
8,925
4,247
-
-
1,561
4,180
1,245
867
2,329
18,572
219
3,717
2,128
6,174
18,229
1,988
604
2,132
96
164,579
267,314

THE INSTITUTION OF ENGINEERING DESIGNERS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Detailed Income and Expenditure account(continued)
Total expenditure
425,104
Total movement in Funds
(115,671)		 337,246
(40,285)