Charty règi$tration nurnr 1161870 Company registration number 01923559 (England and Wales) INSTITUTE OF ERGONOMICS & HUMAN FACTORS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
INSTITUTE OF ERGONOMICS & HUMAN FACTORS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms A J Widdowson Mr B Edwaids MrlBa Mr B Kirby Ms E Ridsdale Mrs JAAvery Dr R Bridger Dr W Gibson Mr S Harmer Mr T Lansdown Ms M Sen Gupta Mrs L E Sutton Dr M Young Mr M Carey Mr M Thody Mr R Baby Ms S E Broadbenl Mr S J Franklin Professor M A Sujan {Appoinled 17April 20231 {Appointed 17April 20231 {Appointed 17April 20231 (Appointed 17April 2023) (Appointed 17 April 20231 {Appoinled 15 April 20241 (Appointed 15 April 20241 IAppointed 15 April 20241 (Appointed 15 April 20241 (Appointed 15 April 20241 Senlor management Mr B Peachey {Chief Executive Officer) Charity number 1161870 Company number 01923559 Rogl$tgrgd office 7 The Courtyard Wootton Park, Alcester Road Wootton Wawen Henley-In-Arden Warwickshire B95 6HJ Audltor Ormefod Rutter Lirnited The oakley Kiddeminster Road Dro1ch Worcestershire WR9 9AY
INSTITUTE OF ERGONOMICS & HUMAN FACTORS CONTENTS Pagg Trusle9s' report Independent auditor's report 8-10 Statement of finana31 a¢tiwties 11 Balan¢9 shget 12 Statèmènt of cash flows 13 Notes to the financial statements 14-24
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees piesent Ihelr annual report and finanaal statements lor the year ended 31 December 2023. The financial slalemenls have been prepared in accordance with the accounting policies Set out in note 1 to the rinancial statements and compty with Inslilule's Royal Charter, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement gf Recommended Practice applicable to charities preparing their accounts fti accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. (effective 1 January 20191. Objectives and activities Our objectives are ¢enlred around four external-facing pillars (Members. Loarning, Engagement and Professional Standards) supported by three inlernal-facing foundations IOp8iations, Digital and Data & Insights}- The activity outlined for each of the foLtr pillars is linked by four cross-cutting Ihernes., Chartèrship- lo enhanc6 thè institute's value and 5UPPOrt our professional network. SèctOf5 - to expand the human factors profession in key areas Topi¢$- lo boost membèr impact in relevant discussions Career pathways- to open access lo the human factors profession and aid carefyr progression Our purpose, ambition and values arè bUt on our tharilable purposes as slated in the in51ilule's Royal Charter.. To piomole learning and advance the education and knowledge in the subject ol. and with regards lo, ergonornics To promote human wellbeing by increasing the awareness and use of ergonomics knowledge., in the interests of the 9eneral public benefit Public b8n8fit The trustees have paid due regard lo guldance Issued by the Charlty Commission in deeidlng what activities the ¢harty should undertake.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achi•v¢m•nts and perfomiance In 2023. we served the Institute's members and Ihe profession through a full programme of actiwty and continuous communication, contributing to another suesSful year. This report sets out how we have achieved this. One of our core priorities in 2023 was to get a better understsnding of where we are as an organisalion. Central lo Ihis was a rnember sutvey that we tsrrfed out In the second half of the year. The final total survey Invlte population was 1909 with 626 respondents cA)mpleting it - a response rale of 32.8%. The survey closed with a cornpletion rate of 92°A, showing particularty high engagement and inveslment in those completing it. 11 revealed details about who our members are. the challenges they are facin9 and how we can make sure we ara focusing on what matters to them. One of the most satisfying findings was that CIEHF is regarded poSivelY by spondentS. wlth 74QA rating u5 al loasl four out of five. We revièwed the results with our Iruslee5 at their November 2023 meeling - ovwall. we've been delighted with the insights that the survey provided, whi151 recognising it does not present a full picture of the ew5 of the whole m8mbership. One of the key priorities for our new Chief Executive, was to refresh the organisation's strategy and much of this Statement reflec15 this important initiative. The results of the survey have been a key input alongside our work lo improve how we capture and analyse member engagement data, and our work to enhance how we make sens8 of the extèrnal drivers that impact our work. During the course tsf 2023, thè Chief Executive has worked with a group of metnbei volunteers led by our Presidènt Elact Mark Young lo develop tho new $lralegi¢ plan that will be presented to our Coundl ol Trustees in early 2024. There has also been a lot of othèr work going on behind the scenes. The In51ilule achieved ISO 9001 certification in May and we are already seeing improvements in efficiency and effectiveness. In parallel, we have a150 undertaken a financial rnanag¢ment ieview- rnore details on that in the operations report below. Together, these two iniiiatives are helping us lo piovide better reports for govemance purposes.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Memb&rs Our membership nUmrS have stayed at around 1.900 for the la515 years or so, with overall member numbers al 1914 al year end la drop from 1967 al the end of 20221. We attract new members bul105e members al roughly the sarne rate, mainly in our associate and 51udenl categories. Attracting more people and helping new members on the path to Chartership is a core focus and in 2024, we wlll be working on demonslraling the value of Chartership so mèmb81s feèl thè bènefit of going through the procèss and keeping their CPD records up to date. This will drive a virtuous arclè thè more ¢hartered members we have, the greater the qualty and quantity of human factors oulpuls and outcomes we see. Thi5 IS supported by the member survey results that showed that driving recognititsn of the Val that human factors professionals bring is ol high importance. Those who rated CIEHF highly in Ihe member survey cited the sense of community, the desirability of nètt¥orking opportunities, and the qualty of CIEHF communications as key value drivers for their membership. We curiently have seven Seclor-focused groups (Dèfenee, Healthca. Nu¢lear, Autr>motivè, Workplace, Pharma. Aviation & Aerospacel. Nvo speaal interest groups ISIGI (Al and Digital Heamh. and Children's Ergonomics) and eight regional groups. 347 mÉtnbers look part in group tneelings duTing the course of the year. In the Survey, three- quarters of members who have taken part in a group rale Ihern as good and very few rale them a5 being bad. Al the same lime, 29 /0 of respondents said they were unaware of the groups and events that were available lo them. We will be encouraging more members lo take advantage of this key member benefit in 2024. We have a range of digital resour$ for members induding print and online versions of our quarterty magazine 'The Ergonomisl,; access lo journals., the 'Communiti&s' discussion forum which is a plattomi for mgmb$rs lo exchange thought leadership. research, insight and best practice." and a weekly email communication to members whi¢h ¢onsistenlly achieves open rates of over S0¢/0. In 2024. we plan to develop actiwties 8nd resour¢ès lo encourage and support exlsling members In upgrading lo our profes5i0nal mèmbership grades Ilechni¢al, gIStered and fellow). To increase the opportunities for online netsvorking and knowledge ex¢h8nge, we will be upgrading the current Communilies foTum. lo enable member-Io- member messaging and the abilty for member5 to create their own discussion group5. Learnlng Our investment in learning continues to make a signifieant impact. In 2023, we laurhched three lèarning p*hway products (rail, construction and eross-S8Ctor} on our website alongside the managed palhw8ys for healthcare and energy run respectively by our partngrs Loughborough University and The Energy In51ilule. We also continued lo develop mining and nudear learning pathways with industry partners. Not only has this investment created a wealth of leaming contenl lo help build the skills of learners in applying uman factors lethniques. il has also {through the generation of a new income stream) given us the ability lo think strategically about future investments that can drive the growth of our disupline in sectors where we feel we are currently under-represented. in line with one of our charitable purposes Yo piomote leaming and advance the educatlon and knowledge in the subject of. and wlh regard lo. ergonomics.. In 2024. we will focus our efforts on bringing leamers onto the pathways and 5UPPtsrting them on their learnerjourney. The Learning Pathways are divided into three levels, beginning with foundational concepts lo ensure everyone can establish a solid b85e of understanding. Certificates of completion are issued at each level and on completion, learners receive certification equivalent to an RQF (Regulated Qualrfications Framework) Level S allowing them to apply ft)r Technical Mernbership of the CIEHF. The support and guidance offered to leamers Ilhrough mentorship, workshops or fonJms1 ensures they can continually evolve in their professional journey. In addition to the pathways, we launched the Discover module {a free 60-minute introdLKtion to human factOTsI and a range of short courses available to purchase on our website on topics including tssk analysis, assessing human factors risk and workload assessment.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Engagement Social media Our social media presence is continuing to improve and a ¢onsultsncy w85 hired in the last quarter of the year to help set objective5, define audienc6s, and select and make the best Use of appropriale plattornis. This new stratogy is being implemented in 2024 to strengthen the impad of our Social media content. In 2023, our Linkedln follower number5 continued lo inuease and the target of 7,000 was reachad by year-end. The posts receiving the most eng8gemenl lend to involve healthcare, accident investigation and 'What is ergonomic5?' On Twitterlx, the lolal number of followers continued to risè and thè all-importanl engagernenl score increased during the year. Fol¢Mng evolwng good practice, posts ha changed 50 ir5 easier lor followers lo take up our call- lo-actions. Publications We published a new guidan¢9 document in April. How to carry out hurnan factors assessments of critie21 la$k$'. Guidancè for COMAH establi5hmenls. It was downloaded almost 1,250 times in the first weèks. In mid-July, we published a new infographic ¢alled Good Work Design, followin9 a successful webinar on the samè lopi¢. 11 was downloaded 1292 time$ in 2023. We updated our Careers Guide which was made availabl@ for download in September 2023 ready for careers events planned for earfy 2024. We also contiibuled lo UK government inquiry on Prevention in Heahh and Social Care. Our 750-word submission focussed on two theme5 equity of access lo health and care information, and analysis of public health signals and intelligence. Furthef work in this area will be undertaken in 2024. Ev8nts Our flagship event is oui annual Conferen. EHF2023 - held in Kenilworth in April 2023 - was onè of our large51 events ever organised. It in¢luded a Careers day, maslerclasses and a doctorial consortium in addition lo the tnain confeience programme. There were 319 attendees, 15 exhibitors at the eareers day, and 69 keynole5, presentations and special sessions. The feedback was excellent with an averag8 ratin9 014.S out of 5 for the overall experience with the overwhelming rnajority saying they would recommend the conferen¢e to friends and colleagues. We are also encouraged that EHF2024 will be a great event a$ we ieTrived more paper 5ubmi5sions than ever in the call for papers in late 2023. CIEHF also hosted seven webinars in 2023, wth a lo181 of 1184 registration5. In October. a warship design w&binar with five presenters received 264 registrations, the most of any webinar in 2023. In the background, we made progress with the planning phase for our 75th anniversary axhibition $¢heduled to lake place in September 2024 al the Museum of Making in Derby.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Financial reviow Our lolal revenue for 2023 was £1,041,983 which was a significant increase on our 2022 revenue of £680,249 plus an investment gain of £17,006. As reported above, this step changè is laigely a result of our inve51menl in learning. Once we have approved Ihe next strategic plan in 2024, the Iruslee5 will identify investment projects using designated funds lor investment. At the current timè, OUT best assessment is that investing in digital infrastructuie and expanding our learning programme will be of most benefit in supporting our strategic intent The royalty income from our two 8ss0cialed journals, 'Ergonomics' and 'Applied Ergonomics, remained healthy in 2023 and is expectod to Continue into 2024. The financial risks identified with Ih8 move lo open-ac¢e$s publishing have not had a detriment81 impact on oui income to date. but we will continuè lo monitor the situation. The Executive Committee approved a financial management VIeW al their July meeting and Keegan & Webb were duty appointed. starting work in September 2023. We have implemented changes in four key areas.. The Chart ofAccounls.' This has been reformatted lo enable detailed analysis and reporting including new codes for expenditure and incomè. Importanuy. incomè ¢ode5 have been split into categories that match the product and setvice categories defined in the Operations Pro¢ess document produced as part of the Institute's ISO 9001 implementslion. The new stw¢lure for the Chart ofA¢counls is reflected in this set of accounts. Reporting.. The proposed Profil and Loss report slruciure has boen built within our accounting sofiware tool, Xero. It can be dynarnically filtered by project andlor sectoi and is the first in a surte of seK-help, on4emand reports. The staff team can now a$5 and run various tracking scenarios over a desired dale range. Bookkeeping and financial managementproG8ss Nfftprovements.. book-keeping practices have been introduced lo improve efficiency, eflectiveness. and reduce expenditure. Further improvements are planned for 2024 including a Purchase Order system to bettèr support cash flow forecasting. ReseNes polKy.' The reserves policy ensu$ that the In51ilute can continue to deliver on its Charitable purpose and strategic plan in the event of signffjicanl disruption lo its funding sources. The policy Is designed lo enable the Institute lo function foi six month period to enable the trustees to refl8¢t on the fvlure viability of the Institute whilst meeting its short-term commitments.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure. govèmanc• and management The Chartered Institute of Ergonomics and Human Factors was established in 1949. 11 was illcoiporaled on 18 June 1985 as a company limited by guarantee, not having share capital.. the cornpany is registered a5 a charity, number 1161870. It is govemed by its Royal Charter. Our governance and management structure The Charity is governed by Ihe Board of Trustees. The trustees delegat& the day to day running of the charity to the CEO- Benjamin Peachey. Further responsibilities arè as ftsllow5'. Council is responsible for ensuring CIEHF manages financial resources responsibty and that activities are in line with our charitable purposes and strategic plan. The Treasurer 15 responsible lor monitoring the current and future financial position of th& Instilute and raising any concerns lo the Executive Committee. The Executive Committee is résponsiblè for assèssing the ¢urrenl and fvlure financial pos11ion of thè In$lilule's risk register. The trustees who served during the year and up to the date ol signature of the financial slalemenls were.. MSAJ Wddowson Mr B Edward5 MrlBa Mr B Kirby Ms E Ridsdale Mrs J AAvery Dr R Bridger Dr W Gibson Mi S Harmer Mr T Lansdown Ms M Sen Gupta Mrs L E Sutton Dr M Young Mr M Carey Mr C Grant Mr M Thody Mr R Baby Ms S E Broadbenl Mr S J Franklin Professor M A Sujan (Appointed 17 April 20231 IApw)Inleil 17 Aprfl 20231 [Apted 17 April 20231 IAppointe(117 April 20231 {Appoinled 17 April 20231 {RÈsigned 15April 20241 {Appoinl6d 15 April 20241 {Appoinled 15 April 20241 {Appoinled 15 April 20241 IAppointed 15 April 20241 IAppointed 15 April 20241
INSTITUTE OF ERGONOMICS & HUMAN FACTORS TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statèment of truste•s' r•sponslbilltl•s The trustees are responsible for preparin9 the Trustees, Report and the financlal slalements Sn a¢COrdan with applicable law and United lfjngdom Accounting Standards (United Kingdom Generally A¢ceplÉd A¢¢ounling Praelicel. The law applicable to charities in England and Wales requires the trustees to prepare financial stslernents for each financial year which glve a true and fair view of the state of affairs of the charty and of the incoming resources and application of rèsoUrS of the charity for that year. In praparing these financial statements. the truste6s are r8quir6d lo.. select suitable accounting poli¢ies and then apply them consSslendy', observe the methods and principles in the Charities SORP., make judgemènts and eslimales that are reasonable and prudent.. state whethei applicable accounting standards have been followed, subject lo any material departures disclosod and explained in the financial statements.. and prepare the financial statamanls on the going ¢oncem basis unless h Is Inapproprlale lo psUm that the charity will contlnue in operation. The trustees are responsibk for keeping sufficient accounting records that disclose with reasonable accuracy al any time the financial position of the charty and enable thern lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Ihe provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevenlion and dele¢lion of Iraud and other irregularities. Con¢lu$lon Overall, we have had a very successfvl year supporting members. organisations and allied professionals. We would like to thank the CIEHF team who work tirelessly to ensurè we achieve what we set out to do. We also thank those members who volunteered thelr Ilme and effort In many roles - we could not futhl our aims Ihoul their dedication and ¢ommkTnenL As we look lo 2024, we celebrate our 75th anniversary and 10 years with a Royal Charter- $pJnificant milestones of which we are jusbfiabty proud. The trustees, rgport was approved by the Board ofTru51ees. ridger Trustee Dal8'. September 12, 2024
INSTITUTE OF ERGONOMICS & HUMAN FACTORS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INSTITUTE OF ERGONOMICS & HUMAN FACTORS Opinion We have audited the financlal st8lemenls of Inslilule of Ergonomics & Human Factors Ilhe 'charily'l for the year ended 31 December 2023 which comprise the 51alemenl of financAal activities, the balance sheet, the slaternent of cash flows and notes lo the finanrial slalemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicabla law arKI United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standartl applicable in the UK and RepublNc of Ireland (United Kingdorn Generally Accepted Accounting Pra¢ticel. In our opinion, the finanaal stemenl5'. give a true and fair view of the stste of the charity5 affair5 as al 31 December 2023 and of its incoming reSoUrS and application of resources. for the year then ended.. have been properly prepared in accordance with United Kingdom Generalty Accepted A¢¢ounting Practice.. and have bfyen prepared in accordance with the requirements of the Charities Aet 2011. Ba$1$ for opinion We conducted our audit in accordance wrth International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities forlhe audit of thè fAnancial statements section of our rèport. Wè arè indèpendetrt of the ¢harily in aeeordancè with the ethical requirements that are relevant to our audit of thÈ financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olhei ethi1 iesponsibilities in accordance with these requiiemenls. We believe that the audit evidence wè have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, w& have concluded that the trustees, use of the going concern basis of accounting in the preparation of the Iinancial statemen15 15 appropriate. Based on the work we have perforrned, we have not identified any material uncertainties relating lo events or conditions that, individually or colledively, may cast significant doubt on the charity's ability to continue as a going concem for a peiiod of al least e1ve months from when Ihe financial statements are authorised for issue. Our SponsIbl1111es and the responsibilrties of the trustees with respe( to going concem are described In the relevant sèction5 of this report. Other inforniatlon The other information comprises the infomi81ion included in the annual report other than the financial statements and our auditorfs report Ihereon. The ItU51ees are responsible for the other inforrnalion contained within the annual repori. Our opinion on the financial 51alemenls doe5 nol cover the other information and we do not express any fom) of assurance conclusion Ihereon. Our responsibility is to read the other inforrnalion and, in doing so, consider whèther the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misststed. If we identify such material inconsistencies or apparent material misstatements. we are required to detem)ine wh6ther this gives rise to a material misslalement in the financial statements themselvès. If, based on the work w8 havè performed, wè conclude that there 1$ a materf81 misstalement of Ihis other infornialion. we are requlred to port th81 fact. We have nothing to report in thi5 regard. Mattèrs on vthich we are required to rèport by oxeoptlon We have nothing lo report in respect of the following matters in relation to which the ChaTlties IAc¢ounls and Reports) Regulations 2008 require us to report to you if. in our opinion.. the infomialion given in the financAal statemenls is inconsistent in any material respeci with the trusteès, report.. or sufficient accounting records have not been kept.. or the financial statements are not in agreement with the accounting records,. or we have not racaived all the information and explanations we require for our audit.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF INSTITUTE OF ERGONOMICS & HUMAN FACTORS Re$ponsibilitle$ of trustse$ As expl8ined more fully in the statement of Iruslees, Tesponsibililies, the tru51ees are responsible lor the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees detemine is ne¢e55ary lo en8ble the preparation ol financial statements that are free from material misstatement, whelhei due lo fraud or error. In preparing the financial statements. the trustees are responsible for assessing the eharity's ability lo continue as a going concem. disclosing, as applicablè, mattèrs relatad lo going concem and using the going concerrs basis of accountsng unless the trusteès erthei interKI tr) eèase operations, or have no realistic alternative but to do so. Auditorfs responslbllltlès for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan with the Aci and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due lo fraud or error. and to issue an auditor's report that includes our opinlon. Reasonable assurance is a high level ol assuran but is not a guarantee that an aLJdil conductéd in accoidance with ISAS IUKI will always detect 3 material misstatement wh&n il exists. Misstalemenls can arise from fraud or error and are considered material rf, individually or in the aggregate, they Could reasonably be expected lo inlluence the economlc decisions of users taken on the basis of these financial slalemenls. The extent lo which our procedure5 are capable of detecting irtegularilies. induding fraud, is detailed bek)w. Basgd on our understanding of the charitable company, we identified the prinelpal risks of non-¢omplIan wilh18w5 and regulations including those that have a direct impact on the preparation of the financial staletnenls and the extent to whith non-cornpliance might have a material effect on the finandal st*emenls. Audit procedures pèrfortned included discussions with management, review of board meeting minute5, lesling of journals, designing and performing audit procedures and challenging assumptions and judgernents made by rnanagemenl in relation lo accounting estimates. There are inherènt limitations in the audrf( procedures described above. We are less likely to becoTne aware of instances of non-¢ompliance with laws and regulations that are not closely related to events and transactions reflected in the financial stalemenls. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not delecling one resulting from error, as fraud may involve deliberatè eoncealment by. for example, forgery or intentional rnisrepresentations. or through collusion. A fvrther description of our responsibilities is avalable on the Financial Reporting Counul's website at= https'.11 www.Irc.org.uklauditorsrèsponsitrA"lrties. Thi5 description fomis part of our audilorfs report. other matters Your attenllon 15 drawn lo the fact that the charity has prepared financi81 $18temenls in ac¢ordan¢e wilh"Accounling and Reporting by Charities". Statement of Recornmended Practice applicable lo charities preparing their accounts in accordance with the Finan¢i81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1 Q21" las amended) in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Pracli¢e issued on 1 April 2005 whith is referred to in the extant regulations but has now be&n withdrawn. Thi5 has been done in order for the financial stslements lo provide a true and falr vlew In ac(x)rdan¢e with current Generally Accepted Accounting Practice.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS INDEPENDENT AUDITOR'S REPORT {CONTINUED TO THE TRUSTEES OF INSTITUTE OF ERGONOMICS & HUMAN FACTORS Us• of our report This report is made solely to the ¢harily's Iruslees, as a body. in accordance with part 4 of the Gharilie5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees those matters we are required tt> slate lo them in an audilorfs report and for no other purpose. To the fullest extent peirnitted by law. we do not accept or assume responsibilily to anyone olher than Ihe charity and the chariws trustees as a body, for our audit work, for this report, or for the opinions we have formed. Colm McGrory FCA (Senior Statutory Auditor) for and on behalf of Omierod Rutter Limited .1.6..1.o.q.1.9fj2+ Chartered Accountants Statutory Auditor The Oakley Kidderminsler Road Dro1ICh Worcestershire WR9 9AY 10-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrictsd Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Incomè from: Charitable activities Investments 1.038,e60 3.323 1.038.660 3,323 880,148 101 680.148 101 Total Income 1.041.983 1.041,983 680,249 680,249 Expenditure on: Charitable actmlies 919.071 296 919,367 626,016 626.016 Total expenditur 919,071 919,367 626,016 626,016 Nel gainslllosses) on investments 10 17,006 17.006 (23,6961 123.6961 Net incomellexpènditurel and movement in fund$ 139.918 (2961 139.622 30.537 30.537 Reeonelllatlon of funds: Fund balan$ at 1 January 2023 356,654 23.722 380.376 326.117 23,722 349.839 Fund balancès at 31 Decembor 2023 496.572 23,426 519,998 356.654 23,722 380,376 The ststement of financial activities iludeS all galns and losses regnISed in the year. All Income and expenditure derive from conlinuing actiwties.
INSTITUTE OF ERGONOMICS & HUMAN FACTORS BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Inveslm&nts 12 13 699 126.849 479 109,843 127.548 110,322 Current a88ets Debtors Cash at bank and in hand 14 290.545 340,724 17.267 307.545 631,269 324.812 Creditors: amounts falling due wlthln onè yèar 15 1238,8191 154.758) Net current ass•ts 392,450 270.054 Totsl assets less current liabilleS 519.998 380,376 Net assets excluding pènslon liability 519,998 380,376 Thè funds ofthe charity Restricied income funds Unresliicled funds 17 23,426 496,572 23,722 356,654 519,998 380,376 Thè financial ststements were approved by the trustees on septem.bèr 12, 2024 Dr Trustee 12-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Ca$h flows from opèrnting activities Cash generated from oporalions 21 30,789 95.524 Investing actlvltl•$ Pur¢hase of tangible fixed assets Investmènt income reiVed 1933) 3.323 101 Net cash generated from investing activities 2.390 101 Net cash used in financing aetivitles Net increase in eash and ea$h equivalents 33.179 95.625 Cash and cash equivalents al beginning of year 307,545 211,920 Cash and Cash equlvalents at end olyear 340.724 307.545 13-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity inforn)atlon Institute tsf Ergonomics & Human Factors is a charlty lirniled by guarantee, incorporated in England and Walès, and consequently doès not havè share ¢apital. Each of the Iruslees is liable lo contribute an arnounl not exceeding £1 towards the 355els of the charity in the event of liquidation. The principle placè of busine55 15.. 7 The Courtyard Wootton Park Wootton Wawen Warwtckshire B95 6HJ. 1.1 Accountlng convèntion Th8 financial statements have been ppared accordance with the Charits Igoverning documentl. the Charities Act 2011. FRS 102 The Financial Reporting Standard ap1¢able in the UK and Republic of Irelan(f' I'FRS 102.} and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recomtnended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The Charity is a Public Benefit Entity 8$ defined by FRS 102. The finanrAal statements have departed from thé Charities (Accounts and Report51 Regulations 2008 only to the èxienl required to provide a true and fair view. This departure has involved following the Statement of Recommended Practica for d)arilies applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations bul which has since been withdrawn. The finaneial statements are prepared in sterling, which is th• lunctional curr9ncy of Ihtr charity. MorElary amounts in these financial statements are rounded to the neast £. The financial statements have been prepared undèr th8 histor81 cost wnvenlion, Imodified lo include the revaluallon of freehold properties and to include investment properties and Certain financial instruments at fa valuel. The principal accounting policiès adopted are sel out below. 1.2 Going conc•rn Al the lime of approving the f(nanelal stslemenls, the trustees have a reasonable expectation that the charity has adequate rèstsurces to continue in operational e$tence lor the foreseeable fijture. Thus the tiustees continue to adopt the going concem basis of accounting in preparing the financial statemènts. 1.3 Charitable lunds Unrestiicled funds are available for use al the d15crelion ol the trustees in furtherance of their tharitsble oblectlves. Rèslri¢ted funds are subject to speclfic )nditIOnS by donors or grantors as to how they may be used. The purpose5 and uses of the restricted funds are sel out in the notes to the financial statements. Endowment funds are sublect 10 specific conditions by donors that the capital must be maintained by the charity. IA Income Income is recognised when the eharlty Is legally entitled lo rf( after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be reived. 14-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollel•$ Icontlnuedl Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in ralation lo donations received under GiftAtd or deeds of covenant is reeognised at the time of thè donalK)n. Legacies are recognised on receipt or otherwise Ef the charity has been notified of an impending distribution, thè amount is known, and receipl is expecied. If thè amount is not known. thè legacy is trèated as a ctsnlingent asset. 1.5 ExndItUre Expenditure is recognised On there is a legal or conslfuctive obligation to transfer economic benefrt lo a third paty, il is probable that a transfer of economic benefits will be required in settlement. and thè amount of the obligaliorn can be measured reliably. Expenditure is classified by 8Ctwty. Thfy ¢osts of e8¢h actiV7ty are made up of the lolal of direct Costs and shaied costs. including support costs involved in undertaking each activty. Direct costs attributable lo a single activty are allocated direclty lo that activity. Shared cos15 which contribute lo more than one activity and support costs which are not attribul8ble lo a single actiwly are apportioned between those ath'vilies on a basis consistent wrth the use of resourS. Central staff costs are allocaled on the basis of time spent. and depreciation ¢harges are allocated on the portion of the asset's use. 1.6 Tangible fix•d a$ts Tangible fixed assets are initsally mèasured at cost and subsequently measured al cost or valuation, net of depciatIon and any impaimènt lossès. Dapreualion is recognised so as to write off the cost or valuation ol assets18ss their residual valu8s over their useful lives on the following bases.. Fixtures and fittings Compulers 25°A straight line 25°A straighl line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the cartwng value of the asset. and is recognised in the statement of financial activities. 1.7 Fixed asset Invèstments Fixed asset investments are inib811y measured al Iransaction pri¢e excludin9 transaction ¢0sls, and are Subsequently measurèd 81 fair value al each reporting date. Change5 in fair value are recognised in net incomellexpendilursl foT the year. Transaction costs are expensed as incurred. 1.8 Impainnent of fixèd as$ots Al each reporting end date, the charity Yew$ the carrying amounts of ts tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverablè amount of the as5el is eslimaled in order lo determine the extent of the impairment loss lif any}. 1.9 Cash and eash èquivolents Cash and cash èquivalents include cash in hand, deposits held al call with banks. other short-leTrn liquid investments with origin81 malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 15-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policlos Icontlnuedl 1.10 Financial Instrumènts The charity has elected to apply the prowsion$ of Se¢lion 11 'Basi¢ Finan¢ial Inslwmtrnls, and Saclion 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial Instrurnent5 are recogni5ed in the charity's balance sheet when the d)arity becomes party lo the contractual provisions of the inslrumenl. Flnanaal assets and liabilities are offset, with the net amounts presented in the financial statements, when the is a legally enforceable right to sel off the ie¢ognised amounts and there Ss an intention lo settle on a nel bas19 or lo realise the asset and settlè the li8bility simultanèously. Basic finanelal assets Basic financial assets. whS¢h Include debtors and cash and bank balances, are Inlllally measured al transaction price including Iiall5aclion costs and are subsequently carried al arnortised cost using th8 effective interest melhod unless the arrangement con51ilules a financing transaction. where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial asse15 classified 85 receivable wlhin one year are not amortised. Basie financialliabilities Basic finan¢kAI liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslilules a financing Iransaclion. where the debt instrument is measured al the present value of the future payrnenls discounted at a market rate of interest. Financial liabililies classiffied as payable within one year are nol amortised. Debt instruments are sUbSequant carried at amorti$e(I cost, using the eftectNe interest rata m&thod. Trade creditors are obligations lo pay fw goods or seNt¢es that have been acquired in the ordinary course of operats'ons from suppliers. Amoun15 payable are classified as current liabile$ if payrnenl is due within one year or less. 11 not, they are Presented a5 non-currenl liabilities. Trade cred((ors are recognised initially at transaction price and subsequently measured al amortised CL)s1 using the effective interest method. Derèeognition of financial liabilities Financial liabilities are derecognised when the charitys c£Jntsaclual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are re¢eived. Termlnalion benefrts are recognised immediately as an expense when the charity is demonstrably commttted to terminate the employment of an employee or lo provide lerrninalion benefts. Crltlcal a¢¢ounting estimates and judgements In the appliGalion of the charity's a¢counling policies, the Iru51ees are required to makè judgemÈnts, e51im8les and assumplir)ns aboLrt the carrying amount ol assets and liabilities that are not readily apparent frorn other sources. The eslimales and assoualed assumptions are based on historical experience and other factors that ore considered lo be relevant. Actual results may differ from these estimates. The eslirnales and underfying assumptions are r&viewed on an ongoing basis. Revisions to accounting eslimales are recognise(l in the period in which the eslirnale is rewsed where the revision affects only that period. or in the period of the revision and future periods where the revision affects both cvrrenl and future periods. 16-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incom8 from charitable actIvI•S Totsl 2023 Total 2022 Membership Products 204.872 220.271 AcCdIts110n SeNces 21,803 15.548 Learning Products 337.910 96,051 Events Sponsorship and Royaltie$ 474.075 348,278 1.038.e60 680.148 Incom• from investmonts Unrestricted Unrestricted fund$ funds 2023 2022 Interest receivable 3.323 101 17-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expendlknr• on charitable activities Total 2023 Total 2022 DiTect costs Diièet travel and subsistenc¥ Direct equipment Direct exiemal services Other direct costs 14,779 23.426 193.048 165,447 4.181 3,161 182,371 66.400 396,700 256,113 Share of support and gov•mane• costs {s•• notè 61 Support Govemanc8 502.841 19.826 365,471 4.432 919.367 626,016 Analysis by fund Unrestiicled funds Restricted lunds 919,071 296 626,016 919.367 626,018 Support costs allocated to a¢tlvltles 2023 2022 Staff costs Overhead staff costs Overhead travel and subsbstence 0rhad equipment Overhead extemal services Overhead office njnning costs Overhead other Goveinance costs 328,389 2,011 11,382 120.758 16,989 16,578 6,734 19,828 231,251 3.586 10,228 97,595 14,276 2.848 5,689 4,432 522,667 369.903 18-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to activiti•s (Continued) 2023 2022 Goveman¢e costs comprise: Auditors, remuneration Venue hire Travel costs and subsistence Other Indepèndent examinefs fees 8,495 6,647 3,432 1,252 1.061 871 2.700 19,826 4,432 Net movèmènt in funds 2023 2022 The nel movement in fvnds is slated after charglngll¢reditingl.' Fees payable for the audit of the charity's ffin8ncial slalemenls Depreciation of owned tangible red ass&t 8.495 712 479 Trusts•$ None of the trustees lor any persons Connected vthh them) received any remuneration or benefrts from the charity during tho year. During Ihg year ended 31 Dember 2023. a total of £8.705 in expenses was re1Mlr$e lo 15 Iruslees for travel expenses. Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Employm•nt costs 2023 2022 Wages and salarie5 Social security costs Ernployers pension costs Olher stsff costs {non payroll) 281.135 25.716 17.133 2,382 199.522 17.897 10.946 1.851 326,366 229,816 512022- 51 of the above employe&s participat8d in the Defined Corrtribulion Pension Schemes. Conlribvlions to the employee pension sc*eme5 for the year totalled £17.133 {2022- £10,946)
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Employèes Icontinuedl The number of employees whosè annual Temuneration (excluding pension) was £60,0(X) or mts We.. 2023 Numb¥r 2022 Number £60.001 to £70,000 £70.001 to £80.OCXJ The key managèmant personnel are represented by 2 employees. The lotsl employee benèfits of the key rnanagement personnel lexcluding pension conlribulionsl is £146,098. 10 Gains and losses on investments Unrostrlctsd Unrostrf¢tsd funds funds 2023 2022 Galnslllossesl arising on-. Revaluation ol investmen15 17,006 123,6961 11 Taxation The charty is exempt from taxation on its aCtItieS because all its income is applied for charitable purposes. 20-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 12 Tangiblè fixed assets Flxturas and rittlng5 Computers Totsl Cost At 1 January 2023 Additions Disposals 9,101 1,915 933 11,016 933 19.1011 19,1011 Al 31 Deeember 2023 2,848 2,848 Depreciation and impairment At 1 January 2023 Depreciation charged in tho yaar Eliminat&d in respect of disposals 9,101 1.437 712 10,538 712 19,1011 19,1011 Al 31 Decernber 2023 2,149 2,149 Carrying amount Al 31 December 2023 699 699 At 31 December 2022 479 13 Fixed assèt IVn List•d investments Cost or valuation Al 1 January 2023 & 31 December 2023 Valuation changes 109.843 17.006 Carylng amount At 31 Decembèr 2023 126.849 At 31 December 2022 109,843 14 Dèbtors 2023 2022 Amounts falllng due wlthln one year: Trade debtors Other dèbtors Prepayments and accrued income 64,761 1.584 833 14.850 225,784 290,545 17,267 21
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 IS Creditors= amounts falling due within on& y•ar 2023 2022 Notes Other laxalion and social security Deferred income Trade Creditors Other creditors Accruals 58.789 131,433 29.911 2.548 43.613 16 4.598 3.999 18,fj86 238.819 54.758 16 D•f•rred income 2023 2022 Oiher deferred income 131,433 43,613 Deferred Income is included in the financial stst¢menl$ 85 follows: 2023 2022 Deferred income is included within.. Current liabilities 131,433 43,613 17 Restricted fvnds The restricted funds of the charity comprise the unexpended balances of donatKJns and grants held on trust subject to spe¢ific conditions by donors as to how they may be used. At 1 January 2023 Resources expended At31 Deeembèr 2023 John Wilson Mèmorial Fund Members Liberty Award Op EK IEHFArchive 11.032 11.622 1,068 12961 10.736 11,622 1,068 23.722 12961 23,426 -22-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 RÈstrl¢ted fijnds IContinu•dl Previous year: At 1 January 2022 Resources expendéd At31 Deeèmber 2022 John Wilson Memorial Fund Mernbers Liberty Awaid Op EK IEHFArchive 11.032 t1.622 1,068 11.032 11.622 1.068 23,722 23,722 John Wi150n Memorial Fund - A donation givèn to establlsh 3 fvnd In memory of fomer Inslilule Pre5idenl. Professor John Wilson, to promde student travel bursaries. Mèmbèrs Liberty Award- Established to finance an annual award lo the author of the best artKle published in 'Eigonomics'. Op Ex IEHF Arehlve - A fund lo support the establishment, preservation and presentation of publications, artefacts and images petsining lo the hi510ry of IEHF. it5 antecedents and of ErgonomicslHuman Fadors generally. 18 Unrestrietsd funds Thè unrestricted funds of thè ¢harily comprise the unexpended balances of donations and grants which a not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds whith have been Sel aside out of unrestricted funds by the trustees for specnlc purposès. At 1 January 2023 Ineomlng r•$our¢e$ R¢$our¢e$ gxpended Gain$ ond At31 December 2023 Ganèral funds 356,654 1,041,983 {919.071) 17,OC6 496.572 Prevlous year: At 1 January 2022 Incoming resources Resources expended Gains and losses At31 D•c•mbèr 2022 Genaral funds 326.117 680.249 (626.016) 123.6961 356.654 23-
INSTITUTE OF ERGONOMICS & HUMAN FACTORS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Anafysis of net assets batw•&n funds Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023.. Tangible assets Investments Current asselsl{liabilities} 699 126,849 369.024 699 126.849 392.450 23,426 4,572 23,426 519.998 Unrestrlcted funds 2022 Restrleted funds 2022 Total 2022 At 31 December 2022: Tangible assets Investments CLtrrent assetsllliabilitsesl 479 109,843 246,332 479 109,843 270.054 23,722 356,654 23,722 380,376 20 Related party transactions Tre were no disclosable ielaled party transactions during the year12022- none>. 21 Ca$h generat from opèrations 2023 2022 Surplus for the year 139,622 30,537 Adjustmen15 for Investment income recognised in stat8mènl of financlal aclNilies Fair value gains and losses on investments Depre¢ialion and impairment of tsngible fixed assets 13,323) 117,006} 712 11011 23,6 479 Movements in worksng capital.. Ilncreasel in debtors Increase in creditors Increase In deferred income 1273,278} 96,242 87,820 (9,8261 7,146 43,593 ash generatèd from operations 30,789 95,524 22 Analysis of changes in n8t funds The charity had no material debt durlng the year. 24-