Ch•rlty regl*trallon nuM￿r 1162712
Comp*ny r•gS#tr*llon Thumb•r RC0008771England and W*l•*l
CHARTERED INSTITUTE OF CREDIT MANAGEMENT
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
LEGAL AND ADMINISTRATIVE INFORMATION
Prwld•nt
S Balster
G Bumivanl ffreasurerl
L Cohman
N Jbnks Ichalrl
A Poole
P Swain
P Gonl
(Appointed 10 Septemkr 2024)
<Appoinl•d 10 Sgpt¢mbgr 2024)
Chlef Execullv•
S Chapplg
Charlty numb•r
1162712
Company numb•r
RCIJ00877
Prlnclp*l •ddM••
l A￿OnI Park
Bak8weM Road
Orton Soulhgate
Pelerborough
Cambridgeshire
Uni18d Kingdoffl
PE2 6XS
R•gl•t•r•d offlc•
1 Accent Park
Bakewell Road
Orton Southgate
Peterborough
Cambridgeshirè
United Kingdom
PE2 6XS
Audltor
Azels Audit SèM¢es
Weslpoint
LynGh Wood
Pgtgrborough
Cambridgeshire
United Kingdom
PE2 6FZ
8•nk•rn
N4lion81 ￿￿lMin$l•f Bank
POBox4
69 Bridge Street
Worksop
Nottinghamshlro
Unilgd Kingdom
S80 1DG

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
CONTENTS
P•g•
Truslee$' report
Sl818ment of truslegs. rèsponslbllilies
Indepèndent audito¢s report
Slalem•nt of financial activitiès
9-10
Balance shoet
Slal&rn&nt ol cash fl¢)w5
15
Note8 to lh8 finandal stalament8
16-30

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Iruslees present their annual r&port and financial statements for the year ended 31 December 2024.
The financial siatements have been Prepared accordance with the accounting poli¢ie$ Set out in note 1 to the
financial statemenls and compty with the chaTty's goveming docurnenl. the Companiès Act 2006 and 'Accounting
and Reporting by Charities.. Statement of Recommended Practice applic8ble lo ¢harilies preparin9 their a¢¢ounls in
acwrdance with the Finanoal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 lefftrdive
1 January 20191"
Oblectlves and activities
The Inslilule'5 charrt8ble objectives arè111 to advance the education of the public concerning credit management
and to encourage the study Ihereol. 121 to establish a hardship fund for the beTrefft of members or former members
of the institute allowing the instrtule lo make paymenls andlor assist suth members or former members or their
dependanls who are in conditions of need hardship or distres$.
The main activities undertaken in relation lo these objectives are..
Being th& ¢&ntre ol expertise for credit management.
Raising awarèness of thè impact of late payment and working with govemmenl and other business bodies
lo drive a change in Culture
Gaining universal recognition that sound credit management is vital lo business.
Maintaining relevant and up-Io-d&lè qualifications and occupabonal standards.
Making best prath'ce adwce available lo business and the wider community
Bèing recognised and respected as the vgice of the profe$$ion.
Supporting the career development of all people who work in Credit management.
Improving skills and standards Ihrough a growing membership.
Continuously impiowng ils products and services and being the first-choice provider.
Prornob"ng fftdrt management through local, national and international ne￿orkS.
The trustees have paid due regard lo guxlan¢e issued by the Charty Commission in deading what activitie5 the
charity should undertake.
A¢hiÈvomènts and pèrforn￿ne•
During 2024 the Institute..
Collaboraled with bu$iness organisations and the media to provide inforrnalion arKI education on basi
credit managemènt principles to the wider business cornmunrty.
Continued the promotion of thè benefits of good credit management through webinars. roadshows and
Corporate Partnerships.
Continued to increase re￿gn(fron ol best practice through the development and growth of rts CICMQ
quality accreditation scheme through which organisations have been recognised. This is being achieved by
active engagement at grass roots level in conjunction with corporatè attainménl.
Continued to provide and improve rts range of Ofyual regulated qualifi¢ations in Credit Management.
H&ld further meetings of the forward thinking and thought-leading Think-Tank consideiing and di$¢us$ing
unent issues and tr8nds lacing the profession, and comrnissioning research among the credit profession
lo infom discussion and debate.
Further inlegraled new IT membership sofvare into everyday activrties. This allows Customers more
visibilrty of their ac¢ounl.
The Instrtute measures rts achievements and performance using 8 range of KPIS and SLAS. These indude bul are
nol11mrted to thè analysis of membership numbers. rneasuremenl of mernber retention rates and tsrgele(I response
limes lo member ¢onla¢l. Activity on social media channels is also keenly measured, and the Inslilule monitors
coverage by third party oiganisats'ons of its actiwty.

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnancial r•vi•w
The net expenditure of the group for the 12-month period was1£46,0541, reducing lolal charity funds to £1.049.824
8131 De￿mber 2f)24. The trading subsidiary ietumed a profit of £526.962 which was gift aided to the charity. The
E¢onomic dimatè continues lo be a challenge for our members and our industry, and wè continue lo evolve our
seNice$ to bettef fft the members. needs.
Rèserves Policy". Much of the income received and generated by the Institute is of an unrestricted nature, but
certain reslricled funds and reservès are recognised within the accounts. It is the Institute's poli¢y to relain a lèvèl of
genefal rèserve that lakes in to account future caprtal investment. unexpeded ffl8intenar￿e expenditure and, in the
event of a winding down of the Instit￿e'S acts'wtie5, sufficient reservès to develop. deliver and award the Instilule's
qualifications. Based on thè above criteria, the trustees consider an appropriate level of reserve5 to be £255,0(XJ
12023.. £220,000). At 31 December 2024 the level of general reserves of £256.704 was consistent wlh the policy.
Benevolent Fund.. This was sel up by the Institute lo help members or forrner members of the Inslitule, or thèir
dependanls, in need. hardship OT distress. Applic81ions for a5s1$1ance are considered by a Benevolent Fund
Committee which is comprised of four Wi¢e Presidents {previous Chairs) of the Inslilule. Payrnenls lotslling £925
were made during the period.
Branches.. The bran¢hes are funded partty by thè Inslrtute and partly by fundraising actNrtles Carried out by th8
brariches themselves.
Funds in IICM." This is Surplus fvnds donated by the IICM on its winding up and is ring fencgd for development of the
Iieland branch of CICM.
Investment Policy and Financial Relums.. Under the Inslitule's Chartar and By-laws the Executive Board has the
power to invest, as il thinks ffit. any monies nol irnmedialély required after considering the Charity's future spending
¢ommttments and planned Capital investmènt. Current investment policy demand5 a proports'on of surplus funds as
designated by the trustees from time to lime ara held in readily realisable investments designed to geneiale a return
in the short lo Th￿l￿M lerm that will at lea51 maintain the real value of the asset.
The charity maintains an operational register of risk which is reVi￿ad and updated on a regular basis. Possible
risks Ident￿&d include
Financial perfom)an¢e.
Compeliloi activity.
Inclusion, equality and diversity.
Heatth & Safety.
Apprenticeships.
Cyber security.
Each risk is scored according to potential impact and likelihood of o¢wrrence. Appropriat8 actions arè recorded in
the risk register for each risk identrfied and monitored until implemented. The Executive Board delegates day-to-day
responsibility for risk managemenl to the Chief Executive who has responsibility lor identsfying and evaluating risks
and implementing appropriate controls.

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for future periods
The Institute's objectives for the future continue as PTeviously. and speciffic plans indude..
Conlinuing lo promote lo businesses ils CICMQ quality accredrtalion scheme which identifies and
recognises best practice in uedit managemenl.
Continue to put our m8mbers at Ihe forefront of all we do by focussing on the delivery of &xcoptional
mèmber valué.
Working Wrth govefnmènl to identify opportunities whère it can support and advise on policy dir&¢tion.
Continuing the review and devèlopment of 11$ Èducation schèmè, qualificats'ons and systems.
Providing thought-leadership in credf( management through the CICM Think-T8nk.
Complelion of the digital Iransformalion of the web511e and 5UPPOrting systems
Increasing marketing and PR activity to raise awareness of the importance of effeclNe cash ft)w
management among the wider business community.
Continuing to develop virtual ￿arning.
Growing thè CICM Member Panel, a group of CICM members, customers and credit professionals across
industries and Countries, providing feedbad(, input and ideas on current and propos¥d products and
services. membeTship beneffts, training and qualffi¢ations, and govèmment consultath'ons.
Structurn. governance and management
The charity was incorporated as 8 Royal Chartet ¢ompany on 1 January 2015 (Company Number RC000877
Charity Number 11627121.
The members of the Execulive Boafd are the directors of the charitable company and its trustees for the purposes
of charity law, They are elected by the Advisory Council for a period of years and meet quarterty. New trust6es
are provided with an indu¢t¢on pack outlining their dutiès and responsibilities. Ongoing trustee training is provided
from lime lo lime. There are Commthees dealin9 wilh the bènevolent fun¢J. education, and tè¢hni¢al matters.11 is thé
Executive Board's role lo determine the overall direction and development of the chaiity Ihiough good governance
and effective strategic planning. The Executive Board is also Te5pon5ible fof $8feguarding and protecting the assets
of the charity, identifying its principal business risks. and ensuring that appropriate syslerns ale in place for Iheir
management and mitigation. In addition, the Executive Board oversees the admission and conduct ol members,
also the procedure at general meetings of the Institule. The Executive Board delegates day-lo-day responsibility for
gov¢rnan¢e, strategic planning, risk management and g&neral day-104ay operations to the Chiel Exacutive. The
Chièf Executive is appointèd by the Executivè Board.
The Inslilule has a wholly owned subsidiary. CICM {SeMcesl Limited. which promdes uedil related services
including training, events, and the supply of learning materials. The accounts show the consolidated pts5th.on of both
companies. The subsidiary gifts all its profits lo the charity.
AS 8 means of meeting Its prineipal objectives, the Institute runs branches throughout the United Kingdom. Eath of
these branthes 1$ 8 geographic grouping of CICM membèrs who èloct a committèe to Pfomotè the Institute at lo¢al
level. to prowdè meeting5 01 an educational and training naturè, to èncourage thè exchangé of prolèssional vièws
beiween people Working in credit management and lo provide a network ol help, advice, and support. Members of
branch committees act in a voluntary capacity and operate within guidelines sel by the Executive Board. In relation
to the activrties of the Institute as a whole, the £ value of the voluntary work is not 8 significant percentage.
The trustées, who are also the dirèctors for the purposè of company law, and who served during the year and up to
the date ol signatL¢re of the fjnancial statements were..
G 8ullivant (Treasuiwl
L Coltrnan
N Jink5 IChaii}
D Nolan
A Poole
P Swain
P Gent
(Resigned 10 Seplember 20241
(Appointed 10 September 2024)
(Appointed 10 Soptèmber 20241
None of the irustees has any benefscial interest in the cornpany. All of the Iru51ee5 are mernber5 of the company and
guarantee to contribute £1 in the event of a winding up.

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Quallfylng thlrd party Ind•mnlty provl•lon•
The tharity prowde8 qualifying third paty ind•mntty insurance for the b•nefrt of dlrectors and truslo9$.
The pay and remuneration of key management peT8onnel (Chief Exe¢)Jtiv81 1$ dolerniined by the Iruslees taking into
account performanco and b8n¢hmartgd data for th8 sector.
Audltor
In accordanc8 with the ¢ompanVs articles. a resolution proposlng that Azels Audit SeNl¢es be reappointed as
ouditor of the company S￿11 bo put al a General Meeting.
The trustees, report wa5 approved by thtr Board of Tru8le&s.
ILL LLLL L4
N Jinks (Ghair)
Dale..

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees, who are also the direclois of Chartered Institutè ol Credit Management for the purpose of company
law. are responsible lor preparing the Truslees, Rep(irt and the finanual statements in accordance with applicable
law and Unrted Kingdom Accounting Standards (United Kingdom Generally Ac¢epled A¢￿unting practi￿).
Company Law rèquirès the trust88s to prepare financial statements for each financial year whi¢h give 8 twe and fair
vlew of the slate of affairs of the charity and of the incoming reSOur￿S and application of iesources. induding the
Ir￿ome and expendiluie. ol the charrtable ¢ompany for thal year.
In preparing Ihese financial Statements. the Iruslee$ are rèquired to-.
select surtable accounting poliues and then appty them consislenlly..
- obseNe the methods and prirriplas in the Charities SORP.,
make judgements and eslimales that arg reasonable and prudent., and
prepa￿ the financial statements on the going ￿nCern basis unless it is inappropriate to presume Ihal the charty
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose wrth r8ason8bl8 a¢¢ura¢y at
any lime the financial position of the charity and enable them to ensure that the financial stslemenls with the
Companiès Act 2006. They are also responsible for safeguarding the assets of the ¢harty and hence for taking
roa50nable steps foi the preventson an¢J deleetion of fraud and other irregulariti'e5.

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF CHARTERED INSTITUTE OF CREDIT MANAGEMENT
Opinlon
We have audited Ihe financial slatements of Chartered Institute of Credit Management Ithe 'ch8rily'l for the year
ended 31 December 2024 which comprisè the Group Statement of Financial Activities, the Group & Parent
Charitable Company Balance Sheet's, the Group Cash flow Statement and the notes lo the finanaal slatemenls.
includin9 a sumtnary of significant accounting pglicies. The finanual reporting framework that has been applied in
their pieparation is applicable law and United Kingdom Accounting Standards, includin9 Finanaal Reporting
Standard 102 The Finanaal Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally A¢¢epled Accounting Praclicel.
In our opinion. the financial slalemènts..
give a true and fair wew ol the state of the Group and Parent charitable company's affairs as at 31 December
2024 and of 11$ incoming res(trurces and application of resources, for the year then ended.
have been properly prepared in accordan¢e wilh United Kingdom Gènerally Accepted Accounting Practicg..
and
have been prepared in accordance wrth the requirements ol the Companies Act 21%J6.
8asis for opinion
We conducted our audit in acctsrdance with International Standards on Auditing IUKI IISAS IUK)l and applicable
law. Our responsibilities under those standards are further describèd in the Auditors ￿spOnsIbl11t1eS for Ihe audil ol
Ihe fingncial statements section ol our report. We are independent of the tharrty in accordan¢e with th• ethical
requirements thal are relevant to oui audit of the financial slalements in the UK, including the FRC'S Ethical
Standard. and we have fulfillèd our olher ethical responsibilrties in accordance with Ihese requirements. We believe
that the audrt ewdence we havè obtained Is suffi¢ient and appropriate to provide a basis for our opinion.
Conclu¥ions relating to golng concèm
In auditing the finanaal Statemènts, we have concluded that the truslees, Ltse of the going cL*ncem basis of
accounting in the preparation of the ffinancial Statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions Ihal, individualty or collectively, may cast signffjcant doubl on the charity's ability to continuè as a 9oing
¢oncem for a period of al least ￿e1ve months from when the financial stslements are authorised for issue.
Our responsibili¢iès and the responsibilities of the trustees with respect to going con¢&m are described in thè
relevant sections of this report.
Other inforniation
The other inlormabon comprises the information included in the annual report other than the financial statements
and our auditorfs report thereon. The trustees are ￿sponsible for the other inloTmation conlaineij within the annual
report. Our opinion on the finanaal s18lements doe5 not cover the other information and we do not Èxpress any form
of assurance conclusign thereon. Our rèsponsibilty Is to read the other information and. in doing so. consider
whether the olher infomalion is mat81ially inconsislenl with the financial statements or our knowledge obtained in
the course ol the audit. or othewise appears lo be materially misstated. If we identify such material inctsnsistencies
or apparent rnaterial misstatements, we are required to determine whether this gives rise to a material misstatement
in the financial statements thèmselves. If. based on the work we have performed. we ¢ondude Ihat there 1$ a
material missialemenl of this other information. we are required lo report that fact.
We have nothing lo report in this ￿gard.
Matters on which we or• required to r•port by exception
We have nothing lo report in respect ol the following matters in relation lo which the Charitses (Accounts and
Reports) Regulations 2008 require u$ lo report lo you if, in our opinion..
the infomation given in the financial slalements is ineonsistent in any material fespect with the Iwslees.
ceport., or
sufficient accounting records have not been kept., or
the financial statements are not in agreement with the accounting records.. or
we have not re¢eived all Ihe information an(J explanations we require for our audit.

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
INDEPENDENT AUDITOR'S REPORT ICONTINUED)
TO THE TRUSTEES OF CHARTERED INSTITUTE OF CREDIT MANAGEMENT
Rgsponsibiliti•$ of Irusttres
A$ explainèd more lully in the slatement of truslees, respon5ibilitie5. the Iruslee5. who are a150 the directors of the
charity foi the purpose of company law, are responsible for the pieparalion of the financial statements and for being
satisfied that they give a Iwe and fair view, and for such intemal control as the trustees determine is necessary to
enable the preparation of financial slalemenls that are free from matèrial misstalement, whether due to fraud or
error. In preparing the financial statements, thè trustèès a￿ responsib￿ for assessing the charity's ability to
continue as a going concern. disdosing. a5 applicable. matters rèlated to going ¢on¢ern and using the going
concern basis of accounting unless the Iruslees either intend lo liquidatè the charitable company or to cease
operats'ons, or have no realislic altemative but to do 80.
Auditoe$ r￿pOnsibl1111es for the audit of thè financlal stat•m•nts
We hav$ been appoinled a$ auditor under section 144 01 the Chaiilies Act 2011 and report in accordance wilh the
Act and rèlevant regul81ions made or hawng effect thereunder.
A further description of our respon5ibilitie$ 1$ available on the Finanaal Rèporting Councif$ w&bsi¢o al.. http$..11
www.frc.org.ukJauditorsresponsibilities. This description foms part of our audilo¢s ￿pOrt.
Ext•nt to whlch th• audlt was conslderèd capabl• of d•t•cting irregularities, including fraud
Ir￿gUlaritIes, induding fraud, arè instsnces of non-compliance with laws and regulations. We design procedures in
line with tsuf responsibilities. oullined abov& and on the Financial Reporting Counal's web$il¢. to dele¢t material
misstslemenls in respect ol irregulaiities, induding fratjd.
We obtain and update our understanding of the enlily, its activili&s, 11$ Control onvironmenl, and likety fvlure
developments, induding in relation to Ihe legal and regul810ry framework appli¢able and how Ihe entity is comptying
with thal framework. Based on this understanding, we identify and a55ess the risks of maleiial misstalement of the
financial statemenls, whethèr due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidènce that is Suff￿lent and appropriate to provide a basis for our opinion. This includes
Consideration of the risk of acts by the entity that wère contrary to applicable laws and regulations. induding fraud.
In Tesponse to the risk of irregularities and non-￿mplianCe with laws and regylalions. induding fraud, we designed
procedures which induded..
Enquiry of management and those charged with govemance around actual and potential litigation and
daims as well as actual, Suspecied and alleged fraud..
Rewewing minutes of mèetings of those charged with govemance.,
Assessing the exlenl of ¢omplianee with thè laws and regulations considered to have a diract material
effed on the financial 51alernen15 01 the op&ralitsn$ of the entity through ènquiry and inspèction",
Rewewing financial statement disclosures and testing to supporting do¢umenlatfjon lo assess complian¢e
wilh applicable laws and regulations..
Perfomiing audil work over the risk of management bia5 and overTide of controls. induding lesling of
journal entries and other adjustments for approprialeness, evaluating the busine55 rationale of significant
transactions oulsid& the nomial course of business and reviewing arLounling estimates for indicalors of
potèntial bias.
Because of Ihe inherent limitations of an audit. there 1$ a risk that we will not detect all irregularities, includrng thostr
leading lo a material mi5s1atemenl in the financi81 ststements or non-complianee wrth regulation. This risk
increase5 the more that compliance with a law or regulation is removed from the events and Irans8¢tions reflected
in the financial slalemenls, as we will be le55 likety lo become aware ol instan￿5 of non-wmpliance. The risk of
not detecting a material misstatement resulting from fraud 15 higheT than foi one ie5ulling from error. as fraud may
involve collusion, forgery. intentional omissions, mi5repre5eniations, 01 the ovettide of Internal control.

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
INDEPENDENT AUDITOR'S REPORT ICONTINUEO)
TO THE TRUSTEES OF CHARTERED INSTITUTE OF CREDET MANAGEMENT
of our r•port
This report 1$ made 801ely lo the charrty's Iru$lees. as a body, in accordance with part 4 of the Charities {Accounts
and Reports) Regulations 2008. Our audit work has been undertaken $0 that we might slate lo tho Gharivs trustees
those matters we are required to stste to them In an audilofs report and for no other purpose. To the fulle51 extent
permitted by law. we do not accept or assuffle responsibility to anyone other than Ihe charity and the charrty's
trustee$ as a body. for our audit work, for this feport, or for the oplnbns we have fomod.
Mr Mark Jackson FCA DChA IS•nlor Statutory Audftorl
for and on bohalf of Azets Audlt S•rvlt••
Ch*rt•r•d A¢¢ountsnt•
Stslutory Audltor
Wèslpoint
Lynch Wood
Pelerborough
Carnbridgeshlre
United Klngdom
PE2 6FZ
zets Audit Servic*s Is eligible for appointment as aud6tor of the Chadty by ¥4rtue of Ils ?ligibility for appoinkngnl as
auditor of ? company under section 1212 of the Companies Act 2006.

v(OWJ
*£
11-

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7J
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CHARTERED INSTITUTE OF CREDIT MANAGEMENT
CONSOLIDATED BALANCE SHEET
AS AT31 DECEMBER 2024
2024
2023
Not••
Flxed 4••ots
Intangible assets
Tangible assets
13
14
142,997
591,666
180,387
634,332
734,663
814,699
Stocks
Debtors
Cash at bank and In hand
1$
16
2.201
204.383
592.27S
3.542
207,828
$51.936
798,859
763,306
Crèdltors". amounls falllng duo wlthln
one ye4r
17
1477,1981
{466,348)
Nat currant assets
321,861
296,958
Tot*1 a•8•ts l••• cuvrnnt Ilabllltl•s
1,056,324
1.111,657
Cr•dltor*: amounts falllng du• aft•r
mor• than on• y•ar
18
I6,SL￿)
115.7791
1,049,824
1,095.878
Incom• fund•
RgslfiGtfjd funils
Designated funds
Unre8trfct¢d funds
21
22
23
58.457
734,663
256.704
59,426
814.699
221.753
1,049,824
1,095.878
11

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
CONSOLIDATED BALANCE SHEET (CONTINUED)
ASAT31 DECEMBER 2024
The company Is enlilled lo the exemption from thé audit requirement contained in section 477 of the Compani8$ A¢1
2006, for the year ended 31 December 2024, although In audit has baon earri8d out under section 144 of the
Charities Act 2011.
The directors acknowledge thelr responslbllitles for complying with the r8quir8rn8nis of the Companies Act 2006
with regpe¢t lo a¢¢ounting reMrds and the preparation offinanaal ststements.
These ffn
tothes
naal $t4ternent$ have b8en prepared in acoordance wlth tha provlslons applicable lo companies subject
11 companies ragima.
Thèfing
'8181atemenl8 wèrè appfoved by the Truslegs on ... .
' LLG LLLLA
vanl (Trea$ur&rl
ru•ts•
N Jinks (Chairl
Tru•t••
Company R•gistrltion Ilo. RC000877
12-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
BALANCE SHEET
AS AT31 DECEMBER 2024
2024
2023
Flx•d auets
Intangible ass8ls
Tangible assets
Inveslmènls
13
14
142,997
591,686
100
1BO,367
634,332
100
734,763
814,799
Curr•nt *•••ts
Slod($
ogbtgrs
Cash al bank and In hand
16
16
2,201
94,191
592.27S
3,542
64,552
$51,938
688,067
620,030
Crndttorn: amounts f*lling du• wlthln
on• y••r
17
1367.1081
1323,1721
Net cuttent assets
321,561
298,858
Totsl a850ts l••• turrnnt Ilabllltl•s
1,056,324
1,111.657
Cr•dltoY¥: amounts lalllng du• aft•r
mor• than one y••r
16,5WI
{15,7791
N•t •M•ts
1.049,824
1,095,878
Incomtr fund•
Reslrtded funds
Designated funds
Unr89tricted funds
21
22
23
58,457
734.863
256.704
59,426
814.699
221,753
1.049.824
1,095.878
13-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
BALANCE SHEET (CONTINUED)
AS AT31 DECEMBER 2024
The company entitJ8d to the gxgmplion from the gudit requlrement contalned In sectlon 477 of the Companieskt
2C>06, for Ihg y9ar gnded 31 December 2024, ahhough an audit has been Ca￿led out under Section 144 of the
CharftiesAct 2011.
Th8 directors acknowledge Ihgir rgspon$ibilitlg$ for cornplying with the fequiremenls of the Companies Act 2C#)6
with respect 19 a¢¢ounting records and the preparation of financial slalements.
Th08e financial slalements have been prepar8d in acrLTrrdanc8 with thg provisions applicable to Gompanles subject
to the Small
mpanie5 regime.
The finan
1gmenl$ were approved by the Trustees on ....
VLLLLLLL
(Treasurer}
N Jink5 Ichairl
Trn8ts•
Tru•tsg i
Company R•giBtration RC000877
14-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Nots8
C•$h flows from op•r*tlng actlvltl••
Cash generated froml{gbsorbeil by)
operations
27
40,81B
185.2201
Inv•stlng actlvttle•
Purchase of intangiblè a$set8
Pur¢hase of langiblg fixed assets
Pro¢eed$ fr¢)m disposal of in￿StMentS
Invg$tmenl income receivèd
1186,850}
12,7381
289,187
13.796
13,793
13,834
N•t c••h g•Mrnt•d from Inv•stlng
10.041
113.375
Fln•nclng aGti¥iti••
Rtrpayment of bank108ns
Payment of obligations und&r finance leases
19.2791
11.241)
110.0541
11.957)
N•t cash ui•d in fln*ncing *¢tlvltl¢8
110,5201
112.0111
Net Incr•a¥e In u¥h •nd ¢•¥h •qulvaknits
40,339
16,144
Cash and cash èquivalents at beginnkng of year
551,936
S35,792
C•$h and cash •qulvalonts at •nd of y••r
592,275
551,936
15-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ounting poll¢le8
Charity inforniatlon
Chartered Institute of Credit Managem8nt is a privata company limited by guarantee Fn¢owiraled in England
and Wales. The registered office is 1 Aecenl Park. Bakèwell Road. Orton Southgale. Pelerborough,
Cambridgeshire. PE2 6XS. United Kingdom.
1.1 Accounting convention
The fiftanaal 5talemenls have been prepared in accordance with the charl￿$ governing documènt, Ihtr
Companies Acl 20(￿ and "AcLounling and Reporting by Charities.. Stalemenl of Recommended Practice
applicable to charitses preparing their accounts in a￿Ordance with Ihe Financial Reporting Standard
applicable in the UK and Republic of Ifeland IFRS 1021 Ieffèell￿ 1 January 20191" The charty is a Public
Egnefrt Entity as definèd by FRS 102.
The financjal slalernents are prepared in sterfing, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The ffinancial sl*emenls have been prepared under the histor￿al cost convention. The principal accounting
policies 8dopletJ are sel out below.
1.2 Going concem
Al the lime of approving the financial statements, the trustees have a reasonable èxpectation that the charty
has adequate resources lo continue in operational existence for the foreseeable future. Thus the Iruslees
continue to adopt the going concern basis of accounting in preparing Iho finan¢i81 slalemenls.
1.3 Charitsble funds
Unre5tricled funds are available for use at the discret¢'on of the trustees in furtherancè of their ¢harilable
objectives.
Restricted funds are subject lo specific conditions by donors as to how they may be usèd. Thè purpc*se$ and
uses of the restricted funds are set out in tha notes to the financial slat8menls.
Endowment funds are subject lo specAfic conditions by donors that the capital must bè maintained by the
charity.
1.4 Income
In¢omè is recognised whèn the charity is legally entitled to it after any performance conditions have béen mèt.
the amounts can be measured reliably. and it is probable that income will be received.
Cash donations alè reeognisèd on receipt. Other donations are recognised once Ihe charity has been notified
of the donation, unless performance condition5 require deferral ol the amount. Income tax recoverable in
relation lo donations received under Gift Aid oi deeds of covenanl is recognised al the lime of the donation.
Legacies are recognised on receipt oi Othe￿iSe if the c*arity has been notified of an irnpending distribution,
the amounl is known, and receipt 15 expected. If the amount is not known, the legacy is trgated as a
conlingenl asset.
Membership fees received by the charity are recognised on receipt. A provision 15 made in the ac￿unt5 for
the ¢05t5 associated with providing a Monthly magazine to members lor the remaining period of their
membership. The element ol the membership income that relates to training is recognised when the training
15 delivered.
16-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
IContlnu•dl
1.5 Expenditure
Expenditure is re￿gnIs￿d once thare is a legal or o)nslructive obligation to Iiansfèr economic benefit to a
third party, it 1$ probable that a tiansfer of economic benefits will be required in settlement. and the amount of
the obligalion can be mea5ufe(J reliabty.
Expenditure is classified by activity. The costs of ea¢h adiwty are made up of the total of direct costs and
$har&d costs, including support cos15 inVo￿ed in undertaking each activity. Direct costs attributable to a single
aCti￿lty are allocated directly to that activty. Shared costs which contribute to more than one activity and
support costs which 3r8 not altributable lo a single activity are 8PPOrtionèd b&lwgen those aciivities on a basis
con51slent with the use of rèsources. Central slaff cos15 are allocated on thè basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
All expenditure 1$ ac¢ounted lor on an accruals basis and has been da$$ified under headings that aggregate
all costs related lo the category. ￿ere costs cannot be directly attributed Its p8rti¢ul8r heading$ they hav8
been allocated lo activities on a basis consistent wilh use of resources.
{il Expenditure by subsidiary includes training & èducational serwces expenditure.
(ill Services to members expendf(ure in¢lude$ membership, examinations. c￿dit Mana9emenl magazine.
advertising, committee services and publicrty expendrture.
liiil Branch activities include all branch expendrture.
livl Benevolent Fund expenditure include5 Benevolent Fund grants and $¢holar$hip$.
Iv) Support Costs are those incurred in connection with service5 and administration enabling the day-tO&day
functioning of the charity.
Ivil Governance c051s include relevant legal, trustee, committee and audit expenditure.
1.6 Intangible fixed •s¥ets oth•r than goodwill
Intangible assets acquired separately from a business a￿ recognisèd at cost and are subsequently measured
al cost less 8¢¢umulaled amortisation and accumulated imp8tment losses.
Amortisalion is recognised so as to write off Ihe cost tsr valuation of assets less their residual values over their
usèful lives on the following bases..
Software devèlopment
20•h Stra￿ht linè
1.7 Tanglbla Ilx•d assets
Tangible fixed assets are ini11811y rneasured at cost and subsequently measured al cost OT valuation, nel of
dep￿CiatIon and any impairmenl10sse5.
Depfeciats'on is recognised so as lo write off the cosl or valuation of assets less their Tesidual values over their
useful lives on the following base5.'
F￿hold land and buildings
Fixtures and ￿tting$
Computers
2% straight line
15.kn straight line
250A straight line
The gain or loss arising on the disposal of an a$$et is detemiined as the difference between the sale
proceeds and the carrying value of the as5el. and is rèwnised in the statement ol financial activities.
1.8 Impalrn)ant of fixed assets
At each reporting end dale. tre charty reviews Ihe carrying amounts of its tangible and intangible assets lo
determine whether Ihere is any indicats.on that those assets have suffered an impaimienl loss. If any such
indication exists. the recovefable amount of the asset is estimated in order to determine the exleni of the
impaimènt loss lif any}.
17

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.9 Stocks
Stocks are slated at the lower of cosl and estimated selling price léss cost5 lo COMp￿te and sell. Cost
comprises direcl materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing Ihe stocks lo their presènt location and condition. Items held for distribution al no or
norninal con$Kleralion are measured the lower ol replacement cost and cost.
Nel realisable value is ihe estimated selling price less all estimated costs of completion and costs lo be
incurrèd in marf(8ting, salling and distribLrtion.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held 81 c811 with banks. ott)er short-lerm liquid
investments with original rnalurilies of three mtsnlhs or less. and bank overdrafts. Bank overdrafts are shown
thin borrowings in Current liabilities.
1.11 Financlal Instrumènts
The charily has elected to apply the provisions of SecUon 11 'Basic Finanaal Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of rts financial instruments.
Financial in51rumenls are fecognised in the chaiity's balance sheet when the charity becomes party lo the
contractual provi5N)n5 of the Inslrumenl.
Financial assets and liabilities are offset, with the nel arnoLtnts presented in the financial stalemenls. when
the￿ is a legally enforceable right to set off the recognised amounts and there 15 an intention to settle on a
net basis or lo realise Iha assèt and settle tha liability simultaneously.
Bas1¢ finan¢lal assets
Basic financial assèts. which indude debtors and cash and bank balancès. are inth'ally measured 81
transaction pfice including Ifansaction ¢osl$ and are subsequently ¢affied al amortised cost using the
effective interest method unle55 the arTangemenl conslilules a financing transaction, where the transaction is
measured al the present value of the future receipts discounted at a mawket rale ol interest. Financial assets
classified as receivable within one year are not amortised.
Basle finanelal liabllllles
Basic financial liabilities, induding creditors and bank loans are initiaNy recognised at transaction pr￿* unless
the arrangement constitutes a financing transaclion, where the debt instrument is measured at the present
value of the future payments discount•d at a market rale ol interest. Financial liabilili&s classified as payabla
within one year are not amortised.
Debt instruments are subsequènlty ¢arried al amortisèd cost, using thè effè¢tive interest rale method.
Trade creditors are obligations lo pay for goods 01 services that have been acquired in the ordinary o)urse of
operations from supplieTs. Amounts payable are cl85sified as current liabilities if payment is due within one
year or less. 11 not. they are presented as non-current liabilities. Trade creditors are recognised initsally at
transaction price and subsequentty measured at amortised cost using the effedive interest method.
Dere¢ognftlon of finanelalllabllltles
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
¢ancelled.
18-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢¢ounting poli¢le$
Icontlnuèdl
1.12 L•a¥•s
Leases ale classified as finan￿ leases whenever the tem)s of the lease transfer substantially all thè risks and
reward5 of ownership lo the lessees. All other ltrast$ artr ¢la$$ifitrd as operating leases.
Asset5 held under finance leases are recognised as assets al the lower of the assets fair value al the dale of
inception and the present value of the minimum lease payments. The related liability is included in the
balance sheet as a finance lease obligation. Lease payments are treated as consisting ol capital and interest
elements. The interest is charged to net incornellexpenditure) for the year so as lo produ￿ a constant
periodic ratè of interest on the femaining balanc8 of the liabilty.
1.13 Fund a¢¢ounting
Unrestiicted fvnds are 8v8ilable lo spend on acliviliès that further any of the purposes of the Institule.
Designated lunds are unreslTi¢ted funds of the Insts"lute whid) the Iwslees have deoded al their dis¢relK>n lo
set aside to use for a specific puipose.
ReStr￿ted funds are donattons fof which the donor has spe¢rf￿d are lo be solely used for particular areas of
the Institute's work.
crftlc41 a¢¢ountlng estlmats¥ and Judg•ments
In the application of the charrty's accounling policies, the Iruslee5 are required lo m8ke judgemen15. eslimales
and assumptions about Ihe carrying amount of assels and liabilities that are not readily apparent from other
sources. The estimates and associated assumplions are based on historical experience and other factors that
are considèred to be relevant. Actual results may drffer from these estimates.
The eslimales and undèdying assumptions are revi•wed on an ongoing basis. Rèvisions to accounting
eslirnale5 are recognised in the period In which the èslimale is revised where the revision affects only that
period. or in the perK)d of the revisitsn and lulure ￿n0￿$ where the r&vislon affects both Cur￿n1 and future
periods.
19-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
¢)th•r tradlng actfvlll••
Unyo•trktsd Unrestricted
lunds
funds
2024
2023
CICM ISeNicesl Llmited
908,S74
733,615
Charltsble *thit
Tot*1
2024
Total
2023
Adveth'sin9, subs and royalties
Education and examinations
Membership subsulpllons
Other Income
54.118
227.220
643.911
1.800
52,661
248,818
663,749
10
927.047
965,238
Investment In¢om•
Total
Total
2024
2023
Investmenls
Interest receivable
74
13.760
4,940
8.856
13,834
13,796
21

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitsblè activitie$
2024
2023
Expendrture by subsidi8ry
Investment management fees
Advertising, subs and royaltps
Education and examination5
Committee seNices and publicbty
Benevolent fund
381,609
420,714
2,135
148,551
404,337
213,908
342
172,346
429.897
242,378
2,520
1,228,750
1,189,987
Share of support costs (see note 81
Share of governance costs (see note 8)
656.763
13.352
561,362
12.656
1,898,865
1.764,005
Analys59 by fvnd
Unrestricted funds
Designated funds
Restricted funds
1.812.515
83,830
2,520
1.712.383
51,280
342
1,898,865
1,764.005
Support costs
Support GoYemanc•
tosts
¢o$ts
2024
Support Govemance
costs
cost$
2023
Depreaation
Govemance
Legal and professional
Property expenses
Insurance
Printing and stationery
Postage
Telephone & IT
Staff costs
Staff expensès
Other
83,830
83,830
13,352
15,723
23.311
5,564
5,960
7.597
87.540
398,346
20.193
8.699
51,280
51.280
12.656
12.586
24,181
5,663
10.401
8,354
82,549
335.940
20.987
9,421
13,352
12,656
15,723
23.311
5,564
5,960
7,597
B7,540
398,346
20,193
8,699
12,586
24,181
5,663
10,401
8.354
82.549
335,940
20,987
9.421
656.763
13.352
670.115
561.362
12.656
574,018
Analysed belweèn
Charitablè actIv￿.e5
656.763
13.352
670.115
561.362
12,656
574,018
GoveTnan¢e costs indudgs payments to the auditors of £10,5401202> £10,4C¥)I for audit fees.
-22-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR TrIE YEAR ENDED 31 DECEMBER 2024
TnMt••s
A total of £1,710 12023 - £3,948) wa$ paid to trusleeg in respect of reimbursed expenses for travel and
subsi$ten¢e when ¢arrying oul busin•$$ on b8haW of the Institute. None of the tru51ees have been paid any
remuneration or received any other beneffts from any empkjyment within the Institute.
10 Employ•
Numb•r of •mployw•
The averag• monlhty numbgr of gmploy•es during th8 year was..
2024
Nymhr
2023
Number
24
Employm•nt ¢wts
2024
2023
Wage8 and salarfes
Social security costs
Oth8r pension cos16
851.256
83,747
38,359
792.469
84.782
38,311
973,362
913,562
Th& number of employegs whose annual remuneration was £60.000 or ￿￿ were..
2024
Numb•r
2023
Numb8r
£60.001- £70.000
£70.001- £80,000
£W,001- £100,000
11 Tax•tlon
Thè Inslttule Is a reglslered charfty and Ihg ITu$l89s cons*Jer that its does not fall wthin the scope of
ts)rporalKin tax.
12 N•t ga1Th611108••81 on Inv•8tm•nts
Unr•8trl¢tsd
lund•
2024
Total
2023
Revaluation of investments
17.9001
-23-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Intsnglbl• flx•d assets
Total
Cost
Al 1 January 2024 and 31 December 2024
186.850
Amortisation and Impalm*nt
Al 1 January 2024
Arnorlisalion charged for the year
6,483
37.370
Al 31 December 2024
43.853
Carying amount
Al 31 December 2024
142.997
Al 31 De¢wnber 2023
180,367
14 Tangible fix*d a$$ets
Group #nd Charity
Freehold Fixtures and Computsrs
land and
fittings
buildlngs
Totsl
Cost
At 1 January 2024
Additions
503.186
176,189
228.941
3.793
908.316
3.793
Al 31 December 2024
503,186
176.189
232,734
912,109
D•pr•¢latlon and Impalrnwnt
Al l January 2024
DèpiÈiiation chaiged in the year
20.004
10.064
46,113
26.428
207,868
9.966
273.985
46,4S8
Al 31 December 2024
30,068
72,541
217,834
320.443
Carying amount
At 31 December 2024
473,118
103,648
14.9LX)
591,666
Al 31 Deeèmbei 2023
483.181
130.078
21.073
834,332
15 Sto¢k$
Group and Charlty
2024
2023
Finished goods and goods for cesale
2,201
3,542
.24-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Debtors
Group
Amounts falling du• wlthln one year.
2024
2023
Trade debtors
Prepayments and a¢¢ru•d incom•
99,756
104,627
120,064
87,764
204,383
207,828
Charlty
Amounts falling due within one year.
2024
2023
Trade debtors
Prepayments and accrued income
30,925
63,266
16.242
48,310
94.191
64.552
17 Creditors: amounts tslling due within on• yèar
Group
2024
2023
Nots$
Bank loans
Obligations under finance leases
Other taxation and social securty
Trade eAedilors
Awiuals and deferie<l income
19
20
10,000
10.000
1.241
35,842
34.492
384.773
45.370
71,807
350.021
477,198
466.348
Charfty
2024
2023
Notes
Bank loans
obl￿atIOnS under finance leases
Other taxation and soaal $èeurrty
Trade creditors
Amounts owed to subsidiary undertaking$
Accruals and deferred income
19
20
10,000
10,000
1,241
35.842
21,363
104,764
149,962
45,370
38.971
121,250
151,515
367,106
323,172
18 Crndltors: amounts falllng du• after more than one year
Group and char5ty
2024
2023
Notes
Bank loans
19
6,500
15,779
25-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Loans and ov•rdr•fts
Group and charfty
2024
2023
Bank loans
16,500
25,n9
Payable within one year
Payable after tsne year
10.000
6.500
10,CM)O
15.779
20 Flnance lease commltments
Group and ¢harfty
Futu￿ minimum lease payments due undèr finance leases..
2024
2023
Wthin one year
1.241
21 R•strICt￿ funds
The income of the group and charity includes restricted funds comprising the following unexpended balances
of donalions and gran15 held on trust for specific purposes..
Movement in funds
Incomlrbg R•8ourco$
Balance at
oxpondèd1 J•rbUJry 2024
Movèm•nt in fund$
Balanco at
1 January 2023
Incoffling R¢¥ource¥
resourcos 8XPgndod
Bolanco at
31 D•c•mb•r
2024
Mombei
support ftjnd
Ireland
branth
56,062
566
13421
56.306
1,551
{2,5201
55.337
3,120
3.120
3,120
59,202
566
13421
59,426
1,551
12,5201
58.457
The Member Support Fund was set up by the Institute to prowde a$sislan¢e lo rnernbers or forrner members
of the Institute, or their dependants, in need, hardship or distrèss Applications for assistance are considered
by the Memb¢r Support Fund Committee which is ￿mpriSed offour Vice Presidents.
The Ireland branch fund was sel up from surplu5 lunds donated by the IICM on its winding up and is ring
fenced for development of the Ireland branch of CICM.
26-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 D•sSgnat•d fund#
The Income of the group and tharity in¢￿deS the fdltrwing designated funds whi¢h have bgen set asidg of
unrestricted funds by Ihg trustees for sp0Qf￿ purposes:
8il*n¢• at
1 J•nuqry 2023
TraMf•
B•lonc• •t RMour¢
f J•ny•ry 2024 oxpended
n¥f•
B•l•n¢•
3108¢￿b•r
2024
•xp•nd•d
Branch
Fixed as$¥t
fund
19,749
{19.7491
676.391
151,280)
189,$88
814,699
183.8291
3,793
734,663
infrastructurè
fiJnd
150.[
1150.CWI
846,140
151,2801
19,839
814.699
183,8291
3,793
734,003
The branches are funded partty by Ihg In$titut8 and partly by fundraising actiwlies carried out by the branches.
During the prior year all branch accounts were dosed and funds transferred.
The fix•d asset fund has been sel up lo assist in Id•nlfyin9 those funds Ihal are not free frjnds and it
represents tho nat book value of tangible assets.
The IT infr8slrudur¥ fLtnd was up for the purchase of IT equipment and development of the wobsile whith
has now bèen compbele(l.
-27-

¢DN-

CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Operating lease commitments
Al the reporting end dale the charity had outstanding commiiments for future minimum lease payrnenls under
non<ancellable operating le8se5, which fall duè as follows..
2024
2023
thin one year
Between fv40 and five years
5,601
9,539
5.601
15.139
15,140
20.740
25 R•lat•d party transactions
Remuneration of key manag•m¢nt ￿l$onn•1
The remuneration of key managgmgnt personnel is as follows.
2024
2023
Aggregate cornpen5alion
333,864
338,622
Key management personnel consists of S employee$12023- 51.
The trusleès are elected from the members of the charity. They therefore have Iransactitsns wilh the charity in
the nomal ¢oursa of the charity's business. including rnembership fees and participation in training. These
transactions are On thè same tèms as loi other members.
During the year a donation tolalling £2.87812023." £8,025> was received from Coltman Warn&r Cranston LLP,
an entity in which a Trustee has an Interest.
26 Subsldlartes
These financial statements are consolidated chaiity finan¢i31 stslemenls for Chartered Inslilule of Credrt
Managem¢nt and its subsidiary.
Details of the ¢hatiVs subsidiaries al 31 DÈ¢ember 2024 are as follows..
Nam• of undertaking
Registered
Notur¢ of bu$inè$$
cla￿ ot
'A Hèld
shar•s h•ld Direct Indir•ct
CICM (Servicesl Limited
UK
Educational courses and
training
Ordinary
loo.00
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CHARTERED INSTITUTE OF CREDIT MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
27 Cash genernt•d from operallo
2024
2023
DèfScil for the year
148,054)
(49.9751
Adjuslmenls for..
Investment income ￿cognised in statem&nt of fin#wal act￿￿&5
{Gainlno$s on disposal of tangibl& fmod assèts
Fair value gains and1055es on investments
Depreciation and impairment of tangible fixed assets
113.834)
(13,7961
17.431
3.771
51,280
83,830
Movemgnl$ in worklng Capital..
Oecrea$81lin¢rease) in slo¢ks
Oe¢roasellinu•asg1 in debtors
Increaselldecreasel in c¥&drtors
1.340
12181
122.6271
{49,8841
12.091
C••h g•n•rnt•d froml{ab#orbod by) operntlon•
40,818
(64,0181
28 Anafy#l• of ¢hanll￿ In n•1 fvn
Al 1 JITh￿ry
1024
C••h fflow• At 31 D•comb•r
24
Cash at bank and in hand
551,936
40,339
592,275
Nots•
20
20
21
Loans falling due wthin one year
Loan5 falling due after more than one yoaf
Obligations undw finance leasès
{10,IKJOI
115.7791
{1,2411
110,¢)00}
16,5001
9,279
1,241
524.916
50.859
575,775
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