Midland Institute of Mining Engineers **P O Box 101** Tadcaster North Yorkshire LS24 0BU Tel: 07305 255606 Email: office@themime.org.uk
## **Midland Institute of Mining Engineers Charitable Incorporated Organisation**
## **Registered Charity No. 1177100**
## **Trustees’ Report and Financial Statements For the year ended 31 July 2021**
The Charity Trustees of the Midland Institute of Mining Engineers are responsible for the preparation of the accounts in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
An independent examination of the Trust`s accounts, carried out under section 145 of the 2011 Act under section 145(5) (b) of the act, is attached as part of this report.
## **Objects**
**1.** Midland Institute of Mining Engineers (the Institute) is incorporated as a charity for the purposes of operating as an educational learned society, including the provision of relevant financial support to those engaged in mining engineering education. Its unincorporated but charitable predecessor registered three other charities (see below) for the making of related donations and these charities have been merged with the Institute. It should be noted that the term ‘mining’ is used to cover all forms of extraction.
**2.** The funds of the Institute are invested by the Trustees at their discretion but are divided in the records of the Institute into three separate designated funds and one unrestricted general fund. All funds are managed by a sub-committee of Trustees for the Institute which recommends to the Institute Trustees how the interest earned by their fund (and exceptionally part of the capital should be used for the charitable purposes of the fund). The investment of all funds is managed by the Institute’s Trustees.
The Trustees pay due regard to the Charity Commission’s general guidance on public benefit when considering grants, for example the Safety Seminar, Technical Meetings, Supporting Engineers, Paper Competitions, and visits at home and abroad to various sites.
## **3. Within the Constitution there are four funds:**
## **3.1 The Midland Institute of Mining Engineers Trust Fund (Unrestricted)**
The General Fund managed by the Institute’s Trustees for meeting the expenses of operating the Institute as a learned society, including salaries, Trustees’ expenses, publishing, supporting research and arranging meetings for members. (Refer to Financial Statements reports) Annual contributions from this Trust Fund enable the effective day-to-day operation of the Midland Institute of Mining Engineers.
## **3.2 The AMCO Bursary Fund (Designated)**
The AMCO Bursary used for the advancement of education in the science and practice of mining, or such other subject areas as may be defined by the Institute’s Trustees and particularly for short-term work-related training for mining engineering students who may have difficulties in undertaking practical instruction and work-related participation.
Rules and Conditions for the Bursary have been published and are available from the Honorary Secretary. Any student member wishing to apply for support from the Bursary should contact the Honorary Secretary for an application form or download from the website www.themime.org.uk
## **3.3 The Noel Webster Travelling Prize (Designated)**
The Noel Webster Travelling Prize used for the award, from time to time, of a prize to support travel in accordance with Schedule 2 of the Constitution.
No applications for full travelling scholarships in 2020/2021 were received.
## **Additional Awards**
The Noel Webster Travelling Scholarship provided support and part sponsorship to a value of £500.00 for the Institute of Materials, Minerals and Mining Young Persons’ Lecture Competition.
The Trust actively supported the membership initiative, resulting in 28 student members. (At a cost of £560.00)
£400.00 was donated to the J F Tunnicliffe paper competition – C S Littlewood Memorial Award.
Any person who is a member of the Midland Institute of Mining Engineers, subject to the conditions outlined in the current Year Book, may request an application form for a scholarship or additional award from this fund.
## **Noel Webster Medal**
The Webster Medal for 2020/21 was presented to Bill Tonks for his paper entitled “What is your ventilation for?” at the AGM held on 14 January 2021 by Video Conference.
## **3.4 Peake Travelling Scholarship**
The Peake Fund is used for the award of a travelling scholarship or for such other charitable purposes as the Trustees shall decide, for the advancement of education in the science and practice of mining.
No applications for full travelling scholarships in 2020/2021 were received.
## **Additional Awards**
The Peake Travelling Scholarship gave support and part sponsorship to a value of £500.00 for the Institute of Materials, Minerals and Mining Young Persons’ Lecture Competition final.
The Peake Travelling Scholarship gave support and sponsorship to a value of £1000 to The North of England Institute of Mining & Mechanical Engineers for their conference (including the reopening of Neville Hall) to be held later in the year of 2021.
Any person who is a member of the Midland Institute of Mining Engineers, subject to the conditions outlined in the current Yearbook, may request an application form for a scholarship or additional award from this fund.
## **3.5 O H Schmill Medal**
The award originated in 1999 through the generosity of Mr Henry Schmill. It is in the form of a double-sided medal suitably inscribed. Conditions of award are outlined in the Year Book.
No nominations for the receipt of this medal have been received for this year.
## **3.6 J F Tunnicliffe Medal**
Several meetings have taken place with the North of England Institute of Mining and Mechanical Engineers (NEIMME) to forge closer ties between our two organisations. This has cumulated in the joint funding and the striking of the John F Tunnicliffe Medal. This award will be made jointly by the two organisations to younger engineers from within their membership.
2
A medal was cast, named the J F Tunnicliffe Medal, at a cost to the MIMinE of £1,405.71
This medal will be awarded for the first time during 2021/22.
## **3.7 Review of activities**
Charity activities to financially support the Midland Institute of Mining Engineers, which is affiliated to the Institute of Materials, Minerals and Mining (IOM[3] ) Due to exceptional and unprecedented times brought about by the Covid-19 pandemic and the restrictions regarding social gatherings imposed by the Government:
The Trustees postponed the AGM and associated Members’ dinner which would normally be held in October. The AGM was held on 14 January 2021 by video conference with just an AGM agenda. It is hoped that a normal calendar of events, including the AGM and the Members’ dinner will resume in October 2021.
These extraordinary circumstances prompted the Incoming President to question the validity impact of his Presidential year, and so the Trustees decided that the incumbent President and Ex Officio Trustees would remain in post for a second year. The President and Ex Officio Trustees graciously consented to this request and will therefore hold office until October 2021.
Our Constitution allowed for the ballot and AGM to be moved to January 2021.
Members were given the opportunity to object to any of the above proposals, but no objections were raised to the Honorary Secretary.
The Members held General and Technical Meetings throughout the year. There were 11 Trustees’ Meetings and four General Meetings held, including the Annual General Meeting, all of which took place via video conference.
The subject matter was of mining engineering, metallurgy and minerals, including the training and development of young engineers.
The Annual Safety Seminar, scheduled to be held in April 2021, in Sheffield, was again postponed due to the corona virus pandemic and the UK Government’s lockdown rules.
The Midland Institute of Mining Engineers in 2021 were IOM3 Awards & Prizes Local Society of the Year Award winners, a very huge thank you and everyone who contributed to the submission.
Advice regarding Charity Law was, from time to time, sought from Keith Lawrey the representative of the Foundation for Science and Technology.
## **Other activities affecting the Midland Institute during the past year**
During mid to late 2020, the Institute of Materials Minerals and Mining (IOM3) issued a revised Memorandum of Understanding (MOU) for all Affiliated Local Societies (ALS) to accept and sign, so as to continue to receive support from IOM3, both financially and in kind. This MOU and the associated Data Sharing Agreement was not found to be compatible with the Midland Institute’s (MIMinE’s) Constitution, aims and objectives, especially in the case of MIMinE’s legal requirement to communicate with its membership. (For several years IOM3 has declined to supply fully detailed membership lists to MIMinE and other Affiliated Local Societies (ALS)). Under the Chairmanship of Ian Dixon, the Governance Committee of MIMinE and also representatives of the North of England Institute of Mining and Mechanical Engineers (NEIMME) and Mining Institute of Scotland (MIS) held several joint meetings, assisted by Keith Lawrey of the Institute of Science and Technology, to draw up a more relevant MOU. To this end; several meetings were held via VC, some with Colin Church, Chief Executive of IOM3, with the objective of resolving these issues. Whilst MIMinE, NEIMME & MIS are now comfortable with the revised MOU, IOM3’s more concrete proposals on the sharing of our members’ details are awaited.
Sincere thanks should be extended to all members of this working group, especially Ian Dixon, for their time and effort on this subject.
In the interim, we encourage all members of MIMinE to contact me or Claire Stapleton with your up to date contact information so that we can communicate with you, our membership, more effectively and also, as part of our GPDR responsibilities, to enable us to keep our records up to date and accurate.
3
Our email address is: - office@themime.org.uk
## **Management of the Trust Funds**
During the last year, MIMinE has also undertaken a review of its financial and funding requirements to provide the necessary services offered, and in recognition of the reduction in investment income from financial markets as a consequence of the Covid-19 pandemic. Under the guidance of the Chairmen of the Investment and Finance Committees and in conjunction with our investment management advisers (Investec), it has been decided to move to a discretionary investment portfolio, managed by Investec. This is to be followed in accordance with guidelines drawn up by MIMinE for the rates of expected return and financial risk to achieve a suitable return of capital to fund the activities of MIMinE for its day to day operations, as well as for the three endowment funds.
Many thanks also to Bill Tinsley and Peter Hetherington, Chairmen of their respective Committees, and also to the members of those Committees, for their help, support and advice.
## **Trustees Meetings**
|**Date**|**Venue**|
|---|---|
|27 August2020|Video conference|
|17September 2020|Video conference|
|15 October 2020|Video conference|
|12 November 2020|Video conference|
|10December 2020|Video conference|
|14January2021 - AGM|Video conference|
|11 February2021|Video conference|
|11 March 2021|Video conference|
|8April 2021|Video conference|
|13May2021|Video conference|
|8 July2021|Video conference|
## **Trustee Matters**
The MIMinE Trustees continue to promote close relationships between the MIMinE and other Mining and Minerals related Local Societies of the Institute of Materials, Minerals and Mining (IOM3). The MIMinE is also very involved with the Mining Technology Division (MTD) of the IOM3 and has several members who sit on its Board.
Administrative duties and office facilities were provided by **Claire Stapleton:** Administration Services **Midland Institute of Mining Engineers** PO Box 101 Tadcaster LS24 0BU Telephone: 07305 255606
Following the request for permission to use Members’ contact details for specified purposes, as per the Data Protection Act, there are now 763 members of MIMinE who have given written permission for their details to be used for mailing and/or in the Yearbook. We strenuously encourage all members of the MIMinE to give their contact details to the MIMinE, by email if possible. Our email address is: - office@themime.org.uk
Five John F Tunnicliffe Medals were purchased during the year from Thomas Fattorini’s of Birmingham, using monies to the value of £1405.71.
## **General Meetings**
4
At the Annual General Meeting held by video conference on 14 January 2021, the President, Duncan Kilbride, and Ex Officio Trustees were elected and are listed below, along with Trustees from that date to the date of the next AGM:
|**Ex Officio Trustees**|**Trustees**|
|---|---|
|Duncan Kilbride (President)|Peter Hetherington|
|Norman Riley (HonoraryTreasurer)|Ian Dixon|
|Steve Straw(Honorary Secretary)|John F Tunnicliffe|
|StewartBullock(VicePresident)|Alan Kirk|
|Neil Battison(PastPresident)|CharlesRhodes|
||William Tinsley|
||Wyn Griffith|
||Paul Lowery|
||BobLeeming|
||Elizabeth Klinkenberg|
||LeeRawson(Junior VicePresident)|
The Governing Board Members invited four members to attend Trustees’ meetings until the next AGM: Alan Auld, Paul Bradley, Darron Dixon Hardy, Robert Siddall.
There are also two Younger Members’ Representatives: Sharon Strugnell and Alex Duff
## **General and Technical Meetings held during the year (all by video conference)**
|**DATE**|**MEETING**|**SPEAKER**|**VENUES**|**ATTENDANCE **|
|---|---|---|---|---|
|12 November
2020|Repurposing of
abandoned coal
mines as a source of
sustainable energy|Jeremy Crooks
Coal Authority|Video conference|32|
|10 December
2020|Bringing Underground
Blasting into the 21st
Century|Malcolm Ingry
MJI Associates|Video conference|30|
|11 February
2021|The use of heavy-
duty miners in
Industrial minerals
and the introduction
of automation”|By Adrian Carley,
Chief Mining
Engineer, and Ady
Blythe, Product
Performance
Manager – Smart
Solutions, Komatsu
Mining Corp. Group.|Video conference|43|
|11 March
2021|Subsurface laser
scanning & multi
beam sonar survey of
voids, mines, and
shafts|Mark Hudson of
Geoterra|Video conference|26|
|30 April 2021|Safely Managing the
Challenge of Change
Full Day Seminar|Various|Victoria Holiday Inn
Victoria Station Road
Sheffield
S4 7YE|Cancelled
Due to UK
Lockdown|
## **Membership**
Most members of the Midland Institute of Mining Engineers are also members of the Institute of Materials, Minerals and Mining (IOM3). The table below shows the number of members of the Midland Institute of Mining Engineers and the grades of membership they hold in IOM3. (Figures obtained from IOM3 Membership Department, relating to IOM3 members who select MIMinE as their preferred Local Society)
5
|**Grade**|**August**
**2020**|**August**
**2021**|**Change**|
|---|---|---|---|
|**Corporate Members**||||
|HonoraryFellows|8|7|-1|
|Fellows|192|168|-24|
|Members|200|170|-30|
|Associate Members|14|17|+3|
|Technician Members|17|14|-3|
|**Total Corporate Members**|**431**|**376**|**-55**|
|||||
|**Non-Corporate Members**||||
|Affiliates|46|47|+1|
|Professional Graduate|23|11|-12|
|Graduate|52|10|-42|
|Student|202|201|-1|
|**Total Non-Corporate Members**|**323**|**269**|**-54**|
|||||
|**Non IOM3 Members**||||
|Life Members|9|18|+9|
|||||
|**TOTAL**|**763**|**663**|**-100**|
The Midland Institute of Mining Engineers has been actively supporting students at the Universities of Leeds, Derby, Portsmouth and Camborne School of Mines for several years as well as supporting apprentices in a number of organisations,
The overall membership for the year decreased by 100; this is very concerning, and a greater effort is required to encourage support for MIMinE membership across the whole range of membership grades in an effort to reach a wider industrial base.
The Midland Institute of Mining Engineers remains a viable organisation, offering support to members in the current economic climate. It is also worth noting that some members have opted to take up the opportunity of membership of MIMinE without membership of IOM3 and this number has doubled in the past year, making it clear that this offering is a valuable means of continuing to provide the opportunity for more people to maintain their contact with MIMinE.
Members of MIMinE can be supported with their professional development; this includes assisting members through applications for IOM3 membership, upgrades in membership and/or Engineering Council registrations. I would like to thank the Membership Committee and its Chairman, Mr Wyn Griffith, for its professionalism and support towards the membership, and also those who conducted any professional review interviews.
## **J F Tunnicliffe Paper Competition – C S Littlewood Memorial Award**
This competition also serves as a local heat of the IOM3 Young Persons’ Lecture Competition. The competition was held by video conference on 17 February 2021. The following Young Members submitted papers:
Chad Davies Horia Murariu Boatca.
The winners of the J F Tunnicliffe paper competition – C S Littlewood memorial award.
|**POSITION**
|**NAME**|**AWARDED**|
|---|---|---|
|1~~st~~|Chad Davies|YPLC winner|
6
|||J F Tunnicliffe paper competition – C S
Littlewood memorial award|
|---|---|---|
|2~~nd~~|Horia Murariu Boatca||
Prize money totalling £400.00 was distributed to those taking part.
The above competition is an annual event and entries should be made through the Younger Members’ Section as per competition rules and conditions in the current Year Book.
## **Young Persons’ Lecture Competition**
The National Lecture Competition is an annual event organised by IOM3 with prizes.
Due to the Covid-19 pandemic and the UK Government Lockdown, several local and regional heats took place by video conference.
The 2021 YPLC UK National Final was held by video conference on 5 May 2021. The Vice President of the Midland Institute of Mining Engineers, Mr Stewart Bullock, was one of the judges at the Final.
One of the objects of the Midland Institute of Mining Engineers is “to encourage and monitor the development of quality skills in engineering in mining through the provision of support and training for members, particularly the younger members, to achieve and maintain professional qualification”. To further this object with younger members, the Midland Institute of Mining Engineers was pleased to continue support for the National Final with part sponsorship from the Peake and Webster Funds totalling £1000.00.
## **Younger Members’/Students’ Section**
Support for the younger members’ and students’ section is provided in the form of payments of student registration fees to the Institute of Materials, Minerals and Mining. In addition, financial support for the organisation of meetings, competitions and visits is also given.
## **Members’ Dinner**
The Members’ Dinner was to be held at the Holiday Inn, High Road, Warmsworth, near Doncaster on Friday 9 October 2020, but was postponed due to the pandemic.
The MIMinE AGM, scheduled to be held in October 2020, was postponed due to the ongoing Covid-19 pandemic and was held on 14 January 2021 by video conference with 25 people in attendance.
## **Advisers to the Trust are as follows** :
Independent Financial Examination, Vogan Accountancy Chartered Accountants 2 Chancery Lane Wakefield WF1 2SS
Investment Management Investec Wealth & Investment Ltd, Beech House 61 Napier Street Sheffield S11 8HA
The Investment Policy document (WIP) is under review due to a change in fund management.
## **Banking**
HSBC UK Workshop Nottingham
7
The Charity Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
Trustees are responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal operating address of the charity is: Claire Stapleton Administration Services Midland Institute of Mining Engineers PO Box 101 Tadcaster LS24 0BU Telephone: 07305 255606
The Trustees have approved the Trustee’s report above.
Signature Date Steve. J. Straw Honorary Secretary Midland Institute of Mining Engineers
8
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **TRUST FUND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 JULY 2021**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
**31 JULY 2021**
|**CONTENTS**|**PAGE**|
|---|---|
|Independent examiner's report|1|
|Income and expenditure account|2|
|Balance sheet|3|
|Notes to the financial statements|4|
**1.**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **INDEPENDENT EXAMINER'S REPORT TO**
## **THE TRUSTEES OF MIDLAND INSTITUTE OF MINING ENGINEERS TRUST FUND**
## **ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
We report to the Trustees on our examination of the financial statements of Midland Institute of Mining Engineers Trust Fund for the year ended 31 July 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 ("the Act").
We report in respect of our examination of the Trust's financial statements carried out under section 145 of the 2011 Act and in carrying out our examination we have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any respect:
- (1) accounting records have not been kept in respect of the Trust as required by section 130 of the Act; or
- (2) the financial statements do not accord with those records.
- (3) the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Vogan Accountancy Limited**
## **Chartered Accountants**
2 Chancery Lane Wakefield WF1 2SS
14 September 2021
**2.**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 JULY 2021**
||**2021**||**2020**||
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**INCOME**|||||
|Investment income||44,207||48,396|
|AGM Dinner||-||1,788|
|Seminar||-||3,330|
|Life Membership Fees||75||75|
|IOM Grant||3,233||3,211|
|JFT Medal||1,406||-|
|**BANK INTEREST**|||||
|HSBC|-||6||
||-----------||-----------||
|||-||6|
|||-----------||-----------|
|||48,921||56,806|
|**EXPENSES**|||||
|Accountancy|1,192||780||
|Investment management fees|2,808||3,024||
|Printing, postage and stationery|1,973||1,628||
|Storage|-||533||
|Meeting expenses|72||431||
|Secretary expenses|3,801||3,600||
|Administrative expenses|18,079||16,015||
|Year book|206||3,810||
|Medals|2,859||595||
|AGM dinner|-||4,007||
|Peake awards|500||4,232||
|Webster awards|2,460||5,766||
|Video conferencing|144||11,681||
|Miscellaneous|366||228||
|Equipment|1,593||-||
||-----------||-----------||
|||36,053||56,330|
|||-----------||-----------|
|**Excess of income over expenditure for the year**||12,868||476|
|||-----------||-----------|
**3.**
**MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **BALANCE SHEET**
## **AS AT 31 JULY 2021**
||||**2021**||**2020**|
|---|---|---|---|---|---|
||**Note**|**£**|**£**|**£**|**£**|
|**INVESTMENTS**|1 & 2|||||
|Main Trust||793,678||1,214,588||
|Combined Dedicated Funds||701,463|||-|
|||------------||------------||
||||1,495,141||1,214,588|
|**CASH AT BANK**||||||
|HSBC accounts||48,653||61,738||
|Investec Wealth & Investment||70,320||100,796||
|||------------||------------||
||||118,973||162,534|
||||--------------||--------------|
||||1,614,114||1,377,122|
||||--------------||--------------|
|Financed By:||||||
|**CAPITAL ACCOUNT**||||||
|Balance brought forward|||1,377,122||1,545,914|
|Excess of expenditure over income||||||
|for the year||12,868|||476|
|Revaluation of investments||224,124||(169,268)||
|||------------||------------||
||||236,992||(168,792)|
||||--------------||--------------|
|Balance carried forward|||1,614,114||1,377,122|
||||--------------||--------------|
The financial statements set out on pages 2 to 4 were approved by the Trustees on 14 September 2021 and signed on their behalf by:
P Hetherington
N Riley
**4.**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 JULY 2021**
## **1. GENERAL INFORMATION**
The Trust Fund is a Charitable Incorporated Organisation registered with The Charity Commission for England and Wales.
## **2. ACCOUNTING POLICIES**
## a) Basis of preparation
The financial statements have been prepared on the receipts and payments basis.
- b) Investments
Investments are stated at their market valuation as at the close of trading on the balance sheet date.
## **3. INVESTMENTS**
**£**
Valuation at 31 July 2021 1,495,141 --------------
## **4. CONTINGENT LIABILITIES**
During the prior year the Trust received £3,280 from delegates to attend a health and safety seminar that the Trust organises. As a result of restrictions put in place due to the Covid-19 pandemic the seminar did not take place. Delegates have been offered a choice of claiming a refund of their fee or using the payment to claim a place at the seminar in April 2022.
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **TRUST FUND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 JULY 2021**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
**31 JULY 2021**
|**CONTENTS**|**PAGE**|
|---|---|
|Independent examiner's report|1|
|Income and expenditure account|2|
|Balance sheet|3|
|Notes to the financial statements|4|
**1.**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **INDEPENDENT EXAMINER'S REPORT TO**
## **THE TRUSTEES OF MIDLAND INSTITUTE OF MINING ENGINEERS TRUST FUND**
## **ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021**
We report to the Trustees on our examination of the financial statements of Midland Institute of Mining Engineers Trust Fund for the year ended 31 July 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 ("the Act").
We report in respect of our examination of the Trust's financial statements carried out under section 145 of the 2011 Act and in carrying out our examination we have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any respect:
- (1) accounting records have not been kept in respect of the Trust as required by section 130 of the Act; or
- (2) the financial statements do not accord with those records.
- (3) the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Vogan Accountancy Limited**
## **Chartered Accountants**
2 Chancery Lane Wakefield WF1 2SS
14 September 2021
**2.**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 JULY 2021**
||**2021**||**2020**||
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**INCOME**|||||
|Investment income||44,207||48,396|
|AGM Dinner||-||1,788|
|Seminar||-||3,330|
|Life Membership Fees||75||75|
|IOM Grant||3,233||3,211|
|JFT Medal||1,406||-|
|**BANK INTEREST**|||||
|HSBC|-||6||
||-----------||-----------||
|||-||6|
|||-----------||-----------|
|||48,921||56,806|
|**EXPENSES**|||||
|Accountancy|1,192||780||
|Investment management fees|2,808||3,024||
|Printing, postage and stationery|1,973||1,628||
|Storage|-||533||
|Meeting expenses|72||431||
|Secretary expenses|3,801||3,600||
|Administrative expenses|18,079||16,015||
|Year book|206||3,810||
|Medals|2,859||595||
|AGM dinner|-||4,007||
|Peake awards|500||4,232||
|Webster awards|2,460||5,766||
|Video conferencing|144||11,681||
|Miscellaneous|366||228||
|Equipment|1,593||-||
||-----------||-----------||
|||36,053||56,330|
|||-----------||-----------|
|**Excess of income over expenditure for the year**||12,868||476|
|||-----------||-----------|
**3.**
**MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **BALANCE SHEET**
## **AS AT 31 JULY 2021**
||||**2021**||**2020**|
|---|---|---|---|---|---|
||**Note**|**£**|**£**|**£**|**£**|
|**INVESTMENTS**|1 & 2|||||
|Main Trust||793,678||1,214,588||
|Combined Dedicated Funds||701,463|||-|
|||------------||------------||
||||1,495,141||1,214,588|
|**CASH AT BANK**||||||
|HSBC accounts||48,653||61,738||
|Investec Wealth & Investment||70,320||100,796||
|||------------||------------||
||||118,973||162,534|
||||--------------||--------------|
||||1,614,114||1,377,122|
||||--------------||--------------|
|Financed By:||||||
|**CAPITAL ACCOUNT**||||||
|Balance brought forward|||1,377,122||1,545,914|
|Excess of expenditure over income||||||
|for the year||12,868|||476|
|Revaluation of investments||224,124||(169,268)||
|||------------||------------||
||||236,992||(168,792)|
||||--------------||--------------|
|Balance carried forward|||1,614,114||1,377,122|
||||--------------||--------------|
The financial statements set out on pages 2 to 4 were approved by the Trustees on 14 September 2021 and signed on their behalf by:
P Hetherington
N Riley
**4.**
## **MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 JULY 2021**
## **1. GENERAL INFORMATION**
The Trust Fund is a Charitable Incorporated Organisation registered with The Charity Commission for England and Wales.
## **2. ACCOUNTING POLICIES**
## a) Basis of preparation
The financial statements have been prepared on the receipts and payments basis.
- b) Investments
Investments are stated at their market valuation as at the close of trading on the balance sheet date.
## **3. INVESTMENTS**
**£**
Valuation at 31 July 2021 1,495,141 --------------
## **4. CONTINGENT LIABILITIES**
During the prior year the Trust received £3,280 from delegates to attend a health and safety seminar that the Trust organises. As a result of restrictions put in place due to the Covid-19 pandemic the seminar did not take place. Delegates have been offered a choice of claiming a refund of their fee or using the payment to claim a place at the seminar in April 2022.