Company registration number: 01923559 Charity registration number: 1161870 ## Chartered Institute of Ergonomics & Human Factors (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2020 ## **Chartered Institute of Ergonomics & Human Factors** ## **Contents** |**Contents**|| |---|---| |Reference and Administrative Details|1| |Strategic Report|2 to 5| |Statement of Trustees' Responsibilities|6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Notes to the Financial Statements|10 to 19| ## **Chartered Institute of Ergonomics & Human Factors** ## **Reference and Administrative Details** ## **Executive Committee (Trustees)** Robert Bridger (President to April 2020, Past President from April 2020) Amanda Widdowson (President Elect to April 2020, President from April 2020) Chris Ramsden (President Elect from April 2020) Neil Mansfield (Past President to April 2020) Jon Berman (Treasurer, co-opted to April 2020, elected from April 2020) ## **Council (Trustees)** Fiona Cayzer (co-chair of PAB) Barbara Haward (co-chair of PAB) Rebecca Charles Mark Young Barry Kirby Byron Edwards (from April 2020) Mark Sujan (from April 2020) Brian Edwards (Associate Member Representative) Ella-Mae Hubbard (Technical Member Representative) Rebecca Cooke (Graduate Member Representative to April 2020) Kirsty Angerer (Graduate Member Representative from April 2020) ## **Chief Executive** Noorzaman Rashid **Registered Office** 7 The Courtyard Wootton Park Wootton Wawen Warwickshire B95 6HJ ## **Company Registration Number** 01923559 **Charity Registration Number** 1161870 The charity is incorporated in England and Wales. **Accountants** Ask Accountancy Limited Chartered Certified Accountants 154 Rothley Road Mountsorrel Loughborough Leicestershire LE12 7JX Page 1 ## **Chartered Institute of Ergonomics & Human Factors** ## **Strategic Report for the Year Ended 31 December 2020** The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 December 2020, in compliance with s414C of the Companies Act 2006. In common with all organisations, the Chartered Institute of Ergonomics & Human Factors has had to confront a year like no other, with restrictions affecting every aspect of our operations and activities. Despite this, we came to the end of the year having risen to those challenges, and delivered a diverse range of events and publications, whilst maintaining and enhancing our member services. This report sets out how we have achieved this. The Chartered Institute of Ergonomics & Human Factors is recognised through its Chartered status as the professional membership body for ergonomics and human factors in the United Kingdom. We are now seen as one of the most vibrant professional bodies for people working as ergonomists and human factors experts anywhere in the world. This is reflected in a three-fold increase of new members from around 100 to 335 in 2020, and an increase overall in membership numbers from 1775 in January 2020 to 1865 at the end of the year. This is against a general trend of a loss of 5-10% of members from other bodies (according to Memberwise). In addition, we are continuing to attract senior researchers, academics and practitioners from around the world, both to join us as members and to participate in our events. In 2020, we curated and broadcast over 40 live online events and published over 30 reports, guides and white papers engaging over 200 volunteer members and non-members. We completed the first year of our ambitious new five-year strategic plan “The Future Human”, which comprises four strands: creating a world-class organisation; supporting our members; the Future Human; the partner of choice. We re-stated our vision, ‘A world where integrated design improves life, wellbeing and performance’ and our mission ‘To become the pre-eminent professional home and voice for human factors’. Just as importantly, we reframed our core values that drive the way we work: - **Professional -** maintaining the highest professional standards and ethical behaviour in - • research and practice. - **Inclusive** - welcoming and respecting difference, recognising that diversity contributes to - • innovative thinking, design and solutions. - **Collaborative** - generating and sharing knowledge and expertise to enhance integrated - • design. ## **Rising from the pandemic** The Institute has weathered the impacts of Covid-19 very successfully. The pandemic and resulting first lockdown in England announced in March 2020 gave our small, well-organised staff team less than five weeks to convert our annual Ergonomics & Human Factors Conference, for the first time also in conjunction with ODAM (Organisational Design & Management), from an in-person event to an online event. This culminated in a successful conference with almost 500 participants from around the world and it became the benchmark for other allied professional bodies. Our agility, the generous time of volunteers and the collaborative nature of our community contributed to this success. Ensuring that our systems, services and processes are resilient has enabled the CIEHF to operate to maximum effect whilst engaging and supporting members during long periods of lockdown. Predicting that the impact of the pandemic would be longer lasting than others had suggested led us proactively to plan and invest in creating a more agile virtual organisation. This was complemented with a significant member engagement programme revitalising our Regional Networks, Sector Groups and Special Interest Groups. Page 4 Increased social media activity and digital campaigns have made a significant contribution to raising our visibility. Our online events regularly attract international audiences in excess of 200 people and overall, from March 2020, resulted in almost 5400 registrations by the end of the year. We will continue to provide high quality, low cost and free to attend accessible online events open to all. ## **Ensuring financial resilience and stability** The onset of the pandemic at the start of 2020, meant many plans had to undergo sudden change and alongside, the budget for the year underwent a major review. Despite loss of income from cancellation of in-person events, prudent management of the budget by our Chief Operating Officer Tina Worthy, an increase in membership subscriptions, and income from Corporate Membership and commissioned projects has left us with an operating surplus of £20k. Our royalty income from our two associated journals, ‘Ergonomics’ and ‘Applied Ergonomics’ continues to hold steady and the potential to attract additional income from course accreditation, from paid-for online events such as Masterclasses, and from subscriptions to Learning Pathways is growing. Our Financial Accounts are presented later in this document. In addition to achieving an operating surplus, despite the impact of the pandemic our income has remained unchanged from last year, and we have been able to commit expenditure to support the diverse range of activities reported here. This has given us confidence to plan for continued growth in the coming year. Our successful management of the financial impact of the pandemic has allowed us to freeze membership subscriptions for 2021 as a means of helping members through financial difficulties they may have experienced. We recognise that our strategy for future growth must include investment in our people and our infrastructure and much work has been done this year to investigate and select systems that will allow us to deliver improved services to our members and to the wider community. These systems include a learning management system, a new member database and a more engaging website, which are planned to be implemented during the coming year. ## **Creating a world class organisation** This is a strategic objective for the CIEHF and it has meant setting the bar very high in all that we do. It has also meant ensuring we are in a financially robust position, as outlined above. During 2020 we ran a significant number of social media campaigns to accompany key publications and events lifting our visibility. This included high profile recruitment videos involving members aimed at attracting academics researchers, authors and practitioners adding to our capacity to produce thought leadership. We published two major White Papers. ‘Learning from Adverse Events’, led by Professor Ron McLeod, and ‘The Human Dimension in Tomorrow’s Aviation System’, led by Barry Kirwan, that have been downloaded more than 3500 and 2000 times since their launch in June and August respectively. In response to the pandemic, CIEHF established a Covid19 Response Team, chaired by our Chief Executive, with Professor Sue Hignett, Professor Paul Bowie, Dr Mark Sujan and Dr Peter McCulloch and our President Elect Chris Ramsden, a designer and practising clinician. They were supported by over 100 international volunteer authors and expert advisers. In response to demand, this team produced advice in a few weeks and sometimes days. Our work on the design and operation of ventilators appeared to influence government policy on the manufacture of ventilators and made national news (http://bit.ly/IndependentVentilatorReport). The focus on creating user friendly publications combined with the use of interactive infographics has taken our communications to a new level. Page 4 ## **Supporting our members** The investment in a full-time Membership Manager, Iris Mynott, has made a significant difference in how we are able to communicate with and respond to members, particularly for those looking for a way into the discipline from other fields and for those wanting to achieve Chartership. Our Professional Affairs Board, led by Fiona Cayzer and Barbara Haward, continued its valuable work in supporting members through increased opportunities for professional development whilst also maintaining and developing professional standards. Activities included support for development of new Learning Pathways, improving mentoring information and investigating competency frameworks across different organisations. We established a shared leadership approach for our Sector Groups ensuring that they were not dependent on one individual, which has made a big difference. New Sector Groups established include Workplace and Defence. New Special Interest Groups include AI and Digital Health, Children’s Ergonomics and Automotive. Regional Networks are meeting more regularly and are provided with direct support to run online events. Online personal development training in social media, consultancy and selling skills have gone some way in helping members hone their skills, alongside a new series of Masterclasses in human factors tools and techniques. All of this training is available on demand through our events website. The launch of the ‘Communities’ discussion forum as a platform for members to exchange thought leadership, research and best practice has been a major success and is now seen as a principal benefit of membership. Our weekly email communications to members, monthly digital newsletter ‘Think’ and bimonthly membership magazine, ‘The Ergonomist’, continue to be platforms for us to share information with members and others on a frequent basis, helping them to keep in touch with developments in the discipline. Members are constantly encouraged to contribute to our publications, to consultations and to our events. The Institute has always strived to be diverse and inclusive. This year we have taken the opportunity to ensure that we actively seek to be inclusive and to reflect our broader membership. An action plan was agreed by Council, which takes steps both to understand and to address potential barriers to inclusivity. As a result of our work in this area, our Chief Executive now chairs the Equalities, Diversity and Inclusion Group for PARN, the Professional Associations Research Network. ## **The Future Human** The ‘Future Human’ is the third strand of our strategic plan. It is about innovative and disruptive thinking that can make a significant contribution to life, well-being and performance. It’s also about raising awareness of the contribution of ergonomics and human factors across industry and society. We have successfully used the concept in ‘The Ergonomist’ to attract wider thinking and this includes areas such as neuroergonomics, AI and digital health, autonomous vehicles and more. At the same time the launch of the President’s Project on ‘Design for Everybody’ highlighted the need for basic anthropometric data for design to be more inclusive, better meeting changing demographics. The ongoing project has succeeded in raising the profile of human factors and has received international support, such as from Caroline Criado Perez. A new armed forces anthropometric survey was also supported. Work being carried out by Sector Groups is focusing more closely on issues for the future. This includes the human factors in architecture and design, the future workplace and implications for employers. ## **The Partner of Choice** Collaborating and working with professional and occupational institutes, trade bodies, research entities, government departments, agencies and others to influence how integrated design can improve life, well-being and performance is the fourth strand of our strategic plan. Page 4 We believe that working with others will contribute to the CIEHF broadening and strengthening its influence and its ability to deliver all the elements of our strategy, including becoming a world-class professional body. This year we have contributed to a number of important consultations. The most significant being the Patient Safety Syllabus which will impact all training within the NHS. This has culminated in a Healthcare Learning Pathway, created with Loughborough University, that will be launched in 2021, targeting patient safety professionals within the NHS. Our Automotive Special Interest Group helped to create a response to a consultation document from the government on Automated Lane Keeping Systems, providing a perfect example of how members can use their human factors expertise to influence policy. During 2020 we collaborated with a wide range of allied professional bodies including the Institute of Occupational Medicine, the British Occupational Hygiene Society, the British Psychological Society, the Royal Academy of Engineering, the Chartered Society of Personnel and Development, the Chartered Society of Designers and many more. As a result of our response to the pandemic, there has been a growth of collaboration with health entities including Health Education England, NHS Education for Scotland, the Faculty of Intensive Care and Medicine, the International Society for Quality in Healthcare and the Royal College of Nursing. Overall, we have had a successful year, managing the business through difficult times and supporting members, organisations and the wider public. We would like to thank our staff, partners, volunteers and all our members for helping to make 2020 one of our most productive years for growth and production of thought leadership. In 2021 we will focus on building our infrastructure to support our increasing membership and look forward to another exciting year in our journey to becoming a world class membership organisation. The strategic report was approved by the trustees of the charity on 15 March 2021 and signed on their behalf by: ......................................... Jonathan Berman Treasurer, Trustee Page 5 ## **Chartered Institute of Ergonomics & Human Factors** ## **Statement of Trustees' Responsibilities** The trustees (who are also the directors of Chartered Institute of Ergonomics & Human Factors for the purposes of company law) are responsible for preparing the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charity on 4 March 2021 and signed on its behalf by: ......................................... Jonathan Berman Treasurer, Trustee Page 6 ## **Chartered Institute of Ergonomics & Human Factors** ## **Independent Examiner's Report to the trustees of Chartered Institute of Ergonomics & Human Factors** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 8 to 19. ## **Respective responsibilities of trustees and examiner** As the charity’s trustees of Chartered Institute of Ergonomics & Human Factors (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of Chartered Institute of Ergonomics & Human Factors are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** Since Chartered Institute of Ergonomics & Human Factors' gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of Chartered Institute of Ergonomics & Human Factors as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. > ...................................... A Hurd Chartered Certified Accountant, ACCA 154 Rothley Road, Mountsorrel, Leicestershire, LE12 7JX > 4 March 2021 Page 7 ## **Chartered Institute of Ergonomics & Human Factors** ## **Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** |**Statement of Financial Activities for the Year Ended 31 December 2020**
**(Including Income and Expenditure Account and Statement of Total Recognised Gains**
**and Losses)**|**Statement of Financial Activities for the Year Ended 31 December 2020**
**(Including Income and Expenditure Account and Statement of Total Recognised Gains**
**and Losses)**| |---|---| |**Unrestricted**
**funds**
**Restricted funds**
**Total**
**2020**|| |**Note**
**£**
**£**
**£**|| |**Income and Endowments from:**|| |Charitable activities
3|489,058
-
489,058| |Investment income
4|201
-
201| |Total income|| ||489,259
-
489,259| |**Expenditure on:**|| |Raising funds
5|(7,399)
-
(7,399)| |Charitable activities
6|(468,880)
-
(468,880)| |Total expenditure|| ||(476,279)
-
(476,279)| |Net income|| ||12,980
-
12,980| |Net movement in funds|| ||12,980
-
12,980| |**Reconciliation of funds**|| |Total funds brought forward|| ||285,637
23,722
309,359| |Total funds carried forward
17|| ||298,617
23,722
322,339| ||**Unrestricted**
**Total**| ||**funds**
**Restricted funds**
**2019**| |**Note**|**£**
**£**
**£**| |**Income and Endowments from:**|| |Charitable activities
3|491,106
-
491,106| |Investment income
4|396
-
396| |Total income|| ||491,502
-
491,502| |**Expenditure on:**|| |Raising funds
5|12,445
-
12,445| |Charitable activities
6|(474,864)
-
(474,864)| |Total expenditure|| ||(462,419)
-
(462,419)| |Net income|| ||29,083
-
29,083| |Transfers between funds|-
(972)
(972)| |Net movement in funds|| ||29,083
(972)
28,111| |**Reconciliation of funds**|| |Total funds brought forward|| ||256,554
24,694
281,248| |Total funds carried forward
17|| ||285,637
23,722
309,359| All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 17. The notes on pages 10 to 19 form an integral part of these financial statements. Page 8 ## **Chartered Institute of Ergonomics & Human Factors** ## **(Registration number: 01923559) Balance Sheet as at 31 December 2020** ||**2020**
**2019**| |---|---| |**Note**|**£**
**£**| |**Fixed assets**|| ||| |Tangible assets
11|1,437
551| |Investments
12|139,335
146,734| ||140,772
147,285| |**Current assets**|| ||| |Debtors
13|8,513
13,978| |Cash at bank and in hand
14|214,688
166,261| ||223,201
180,239| |**Creditors: Amounts falling due within oneyear**
15|| ||(41,634)
(18,165)| |**Net current**assets|| ||181,567
162,074| |**Net**assets|| ||322,339
309,359| |**Funds of the charity:**|| |**Restricted income funds**|| ||| |Restricted funds|23,722
23,722| |**Unrestricted income funds**|| ||| |Unrestricted funds|298,617
285,637| |**Total funds**
17|| ||322,339
309,359| For the financial year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements on pages 8 to 19 were approved by the trustees, and authorised for issue on 4 March 2021 and signed on their behalf by: Jonathan Berman Treasurer, Trustee The notes on pages 10 to 19 form an integral part of these financial statements. Page 9 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **1 Charity status** The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The principal place of business is: 7 The Courtyard Wootton Park Wootton Wawen Warwickshire B95 6HJ ## **2 Accounting policies** ## **Summary of significant accounting policies and key accounting estimates** The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **Statement of compliance** 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. ## **Basis of preparation** Chartered Institute of Ergonomics & Human Factors meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. ## **Exemption from preparing a cash flow statement** The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. ## **Income and endowments** ## _**Deferred income**_ Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement. Page 10 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## _**Investment income**_ Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. ## _**Raising funds**_ These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. ## _**Charitable activities**_ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Support costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## **Governance costs** These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses. ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: **Asset class Depreciation method and rate** Furniture and fittings 25% cost Page 11 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **Fixed asset investments** Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## **Trade creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. ## **Fund structure** Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. ## **Financial instruments** ## _**Investments**_ Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Page 12 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **3 Income from charitable activities** |**3**
**Income from charitable activities**|**3**
**Income from charitable activities**| |---|---| |**Unrestricted**|| |**funds**
**Total**
**Total**|| |**General**
**2020**
**2019**|| |**£**
**£**
**£**|| |Member subscriptions
214,794
214,794
210,646|| |Professional application fees, Registered consultancy|| |and CREE
13,163
13,163
11,657|| |Journal royalties and purchases
185,897
185,897
151,850|| |Course accreditation (applications and licences)
4,200
4,200
5,400|| |Knowledge and content sales
180
180
580|| |Event delegate fees
36,787
36,787
75,179|| |Advertising, sponsorship and exhibitions
12,616
12,616
15,794|| |Projects
21,419
21,419
20,000|| |489,056
489,056
491,106|| |**4**
**Investment income**|| |**Unrestricted**|| |**funds**
**Total**
**Total**|| |**General**
**2020**
**2019**|| |**£**
**£**
**£**|| |Interest receivable and similar income;|| |Interest receivable on bank deposits
201
201
396|| ||**Unrestricted**| ||**funds**
**Total**| ||**General**
**funds**| ||**£**
**£**| |Interest receivable and similar income;|| |Interest receivable on bank deposits|201
201| |**Total for 2020**|| ||201
201| |**Total for 2019**|| ||396
396| Page 13 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **5 Expenditure on raising funds** **Investment management costs** |**Investment management costs**||| |---|---|---| ||**Unrestricted**|| ||**funds**|**Total**| ||**General**|**funds**| |**Note**|**£**|**£**| |Loss\(Gain)on investment
7|7,399|7,399| |**Total for 2020**|7,399|7,399| |**Total for 2019**|(12,445)|(12,445)| ## **6 Expenditure on charitable activities** |**6**
**Expenditure on charitable activities**|| |---|---| ||**Unrestricted**| ||**funds**
**Total**| ||**General**
**funds**| |**Note**|**£**
**£**| |Member subscriptions|220,886
220,886| |Allocated support costs
7|241,876
241,876| |Governance costs
7|6,118
6,118| |**Total for 2020**|| ||468,880
468,880| |**Total for 2019**|| ||474,864
474,864| In addition to the expenditure analysed above, there are also governance costs of £6,118 (2019 - £18,840) which relate directly to charitable activities. See note 7 for further details. Page 14 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **7 Analysis of governance and support costs** ## **Governance costs** |**7 Analysis of governance and support costs**
**Governance costs**||| |---|---|---| ||**Unrestricted funds**|**Total**| ||**General**|**funds**| ||**£**|**£**| |Allocated support costs|6,118|6,118| |**Total for 2020**|6,118|6,118| |**Total for 2019**|18,840|18,840| |**8 Net incoming/outgoing resources**||| |Net incoming resources for the year include:||| ||**2020**|**2019**| ||**£**|**£**| |Other non-audit services|2,700|3,700| |Depreciation of fixed assets|1,030|804| ## **9 Staff costs** The aggregate payroll costs for the year were £174,445 (2019 - £159,322). The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows: |The monthly average number of persons (including senior management
the year expressed as full time equivalents was as follows:|team) employed by the charity during| |---|---| ||**2020**
**2019**| ||**No**
**No**| |Average number of employees|3
3| 3 (2019 - 3) of the above employees participated in the Defined Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £7,625 (2019 - £6,787). No employee received emoluments of more than £60,000 during the year. Page 15 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **10 Taxation** The charity is a registered charity and is therefore exempt from taxation. ## **11 Tangible fixed assets** |**11**
**Tangible fixed assets**|| |---|---| ||**Furniture and**| ||**equipment**
**Total**| ||
**£**
**£**| |**Cost**|| ||| |At 1 January 2020|9,101
9,101| |Additions|1,916
1,916| |At 31 December 2020|| ||11,017
11,017| |**Depreciation**|| ||| |At 1 January 2020|8,550
8,550| |Charge for theyear|1,030
1,030| |At 31 December 2020|| ||9,580
9,580| |**Net book value**|| |At 31 December 2020|| ||1,437
1,437| |At 31 December 2019|| ||551
551| Page 16 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **12 Fixed asset investments** |**12**
**Fixed asset investments**|| |---|---| ||**2020**
**2019**| ||**£**
**£**| |Other investments|139,335
146,734| |**13**
**Debtors**|| ||**2020**
**2019**| ||**£**
**£**| |Other debtors|8,513
13,978| |**14**
**Cash and cash equivalents**|| ||**2020**
**2019**| ||**£**
**£**| |Cash on hand|11
12| |Cash at bank|214,677
166,249| ||214,688
166,261| |**15**
**Creditors: amounts falling due within one year**|| ||**2020**
**2019**| ||**£**
**£**| |Other taxation and social security|-
4,502| |VAT grant repayable|-
2,886| |Accruals|3,999
3,999| |Deferred income|37,635
6,778| ||41,634
18,165| Page 17 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **16 Contingent assets** The Institute holds a 50% equity holding in the journal 'Applied Ergonomics' which was valued in 2015 at £1,200,000. A longstanding contractual relationship exists with the journal 'Ergonomics' but without an equity holding. Both journals together generate the royalty income shown in the SOFA. . The total value of contingent assets is £1,200,000. ## **17 Funds** |**17**
**Funds**|||||||| |---|---|---|---|---|---|---|---| ||**Balance at 1**||**Incoming**||
**Resources**||**Balance at 31**| ||**January**|**2020**|**resources**||
**expended**||**December 2020**| ||**£**|||**£**||**£**|**£**| |**Unrestricted funds**|||||||| |General|285,637|||489,259||(476,279)
298,617|| |**Restricted funds**||23,722|||-|-|23,722| |**Total funds**|309,359|||489,259||(476,279)
322,339|| ||||||||**Balance at 31**| ||**Balance at 1**|**Incoming**||**Resources**|||**December**| ||**January 2019**|**resources**||**expended**||**Transfers**|
**2019**| ||**£**||**£**||**£**|**£**|**£**| |**Unrestricted funds**|||||||| |General|256,554||491,502||(462,419)||-
285,637| |**Restricted funds**|24,694|||-|-|(972)
23,722|| |**Total funds**|281,248||491,502||(462,419)|(972)
309,359|| ## **18 Analysis of net assets between funds** ||**Unrestricted**
**Total funds at 31**| |---|---| ||**funds**
**December**| ||**General**
**2020**| ||**£**
**£**| |Tangible fixed assets|1,437
1,437| |Fixed asset investments|139,335
139,335| |Current assets|223,201
223,201| |Current liabilities|(41,634)
(41,634)| |Total net assets|| ||322,339
322,339| Page 18 ## **Chartered Institute of Ergonomics & Human Factors** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ||**Unrestricted**
**Total funds at 31**| |---|---| ||**funds**
**December**| ||**General**
**2019**| ||**£**
**£**| |Tangible fixed assets|551
551| |Fixed asset investments|146,734
146,734| |Current assets|180,239
180,239| |Current liabilities|(18,165)
(18,165)| |Total net assets|309,359
309,359| |**19**
**Analysis of net funds**|| ||**At 1 January**
**Financing cash**
**At 31 December**| ||**2020**
**flows**
**2020**| ||**£**
**£**
**£**| |Cash at bank and in hand|166,262
48,426
214,688| |Net debt|| ||166,262
48,426
214,688| ||**At 1 January**
**Financing cash**
**At 31 December**| ||**2019**
**flows**
**2019**| ||**£**
**£**
**£**| |Cash at bank and in hand|153,411
12,851
166,262| |Net debt|| ||153,411
12,851
166,262| Page 19