Midland Institute of Mining Engineers c/o 74 Newsam Road Kilnhurst, Mexborough South Yorkshire S64 5UN office@themime.org.uk Tel: 07305 255606
Midland Institute of Mining Engineers (MIMinE) Charitable Incorporated Organisation (CIO)
Registered Charity No. 1177100
Trustees’ Report and Financial Statements For the year 01 August 2021 till 31 July 2022
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.
Each of the designated funds contributed £1000.00 to the General Fund to cover administration costs associated with the fund activities.
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
Registered Charity No 1177100. Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 1
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 2021/2022 were received.
Additional Awards
The Noel Webster Travelling Scholarship provided support and part sponsorship to a value of £750.00 for the Institute of Materials, Minerals and Mining Young Persons’ Lecture Competition.
The Trust actively supported the membership initiative resulting in 62 Undergraduate & Graduate Student members (At a cost of £870.50).
The Midlands Institute of Mining Engineers provided funding from the Noel Webster Trust to cover the expenses of the John F Tunnicliffe (JFT) medal winner the sum being £82.60. Purchases of Webster medals £378.88 debited from Webster Fund
Two members visited Camborne School of Mining (CSM) on a recruitment drive, £545.00
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 2021/22 was presented to Adrian Carley and Ady Blyth of Komatsu for their paper entitled “The use of heavy-duty miners in industrial minerals and the introduction of automation” at the AGM held on 8 October 2021.
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.
Delegate registrations were supported for several members to attend The British Mining Trade Association (ABMEC) Annual Conference held at The Nottingham Belfry, Nottingham on Thursday 25th November 2021.At a cost of £1299.90) – this included travel & accommodation
Seven members of the Midland Institute of Mining Engineers attended the North of England Institute of Mining and Mechanical Engineers (NEIMME) conference (Mining Technology technical community (MTG) within the Institute of Materials, Minerals and Mining (IOM3) ‘Legacies of Mineral extraction and sustainability opportunities’ held at Neville Newcastle on 10, 11 November 2021. £1502.49 was debited from the Peake Fund to cover the expenses for the 2-day event.
Additional Awards
The Peake Travelling Scholarship gave support and part sponsorship to a value of £750.00 for the Institute of Materials, Minerals and Mining Young Persons’ Lecture Competition final.
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.
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.
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 2
Keith Lawery and J F Tunnicliffe were awarded this medal at the annual general meeting (AGM) on Friday 8 October 2021.
3.6 J.F. Tunnicliffe Medal
It is with great sadness that the Institute also says good bye to Professor Johnathan Frederick Tunnicliffe FREng CEng Hon FIMMM who passed away on Wednesday 15th December 2021. He was in his 93rd year. The Trustees of the Midland Institute of Mining Engineers and the North of England Institute of Mining and Mechanical Engineers in recognition of the long and outstanding contribution Professor Jonathan Tunnicliffe had made to the Institutes with over 50 years of service, agreed to strike a medal in his honour and award it annually to an outstanding young engineer. The first competition was held in 2021 and the medal was presented by Professor Tunnicliffe personally to the winner James Heslington at the Mining Technology Division conference at Neville Hall, Newcastle upon Tyne.
This medal will be awarded for the second time in November 2022.
Exceptional payments
£3705.76 – Fattorini’s (medal manufactures) – Thomas Adam Medals £395.20 to cover the President & Honorary Secretary’s expenses for attending the IOM3 Award Function held at Euston Road London (IOM3 HQ). The Midland Institute of Mining Engineers received this year’s Local Society of the year award and £1000 cheque.
£35.29 to cover President attending/judging the young person’s lecture competition (YPLC) Final
£1,500 – YPLC – Finals – sponsorship
Two members visited the Woodsmith mine in Whitby on a recruitment drive expenses £60.40 President attended the NEIMME annual dinner and donated a raffle prize £396.10 A member attended the Foundation for Science & Technology Lunch & expenses £203.50 The President attended the ABMEC networking event accommodation & expenses £213.25
3.7 Review of activities
The members hold General and Technical meetings throughout the year. There were eight Trustees meetings held via video conference and six General meetings held (one held by video conferencing only and the rest were hybrid, with video and face to face attendance), including the Annual General Meeting which took place in Doncaster with 24 persons present.
The subject matter was of mining engineering, metallurgy, and minerals, including training and development of young engineers.
The annual Safety Seminar was held on Friday 22 April 2022 in Sheffield with 172 registered delegates. Advice is sought from the Foundation for Science and Technology, from time to time, regarding Charity Law.
Trustees Meeting
-
7 September 2021 by Video Conference
-
8 October 2021 AGM at Doncaster
18 November 2021 by Video Conference
16 December 2021 by Video Conference
-
20 January 2022 by Video Conference
-
17 February 2022 by Video Conference
-
17 March 2022 by Video Conference
-
19 May 2022 by Video Conference
28 June 2022 by 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.
The administrative duties and office facilities were provided by Claire Stapleton: Administration Services
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 3
Midland Institute of Mining Engineers c/o 74 Newsam Road Kilnhurst Mexborough South Yorkshire S64 5UN 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 141 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.
General Meetings
At the Annual General Meeting, which was held at The Holiday Inn, Warmsworth, Doncaster on 8 October 2021, (in attendance 24 members) the President, Stewart Bullock and Ex Officio Trustees are listed below along with Trustees from that date to the date of the next AGM.
| ExOfficio Trustees | Trustees |
|---|---|
| Stewart Bullock (President) | Adrian Carley (Junior Vice President) |
| Lee Rawson (Vice President), | Alan Kirk |
| Peter Hetherington (Honorary Treasurer) | Bill Tinsley |
| Steve Straw (Honorary Secretary) | Charles Rhodes |
| Duncan Kilbride (Past President) | Ian Dixon |
| Stuart Walker replaced Jonathan Tunnicliffe | |
| Martin Cox | |
| Neil Jackson | |
| Paul Bradleyreplaced Peter Hetherington | |
| Paul Lowery | |
| Wyn Griffith | |
Due to the sad passing of Jonathan F Tunnicliffe, Stuart Walker was made a Trustee for the remainder of his term of office. With Peter Hetherington taking up an ex-officio position, Paul Bradley was made a Trustee. The Governing Board Members invited four members to attend Trustees meetings until the next AGM: Robert Siddall, Elizabeth Klinkenberg and subsequently John Hind and Darron Dixon-Hardy. There is also a Younger Members Representative: James Heslington
General and Technical Meetings held during the year.
| DATE | MEETING | SPEAKER | VENUES | ATTENDANCE |
|---|---|---|---|---|
| 18 November 2021 |
Energy storage for mining legacies – facilitating the green revolution |
Chris Yendell | Video Conference | 29 |
| 9 December 2021 |
Planning, design & construction of mine shafts and surface drifts |
Alan Auld | Video Conference & face to face |
37 |
| 13 January 2022 |
Mineshaft access – a new approach |
Alun Jenkins | Video Conference & face to face |
42 |
| 10 February 2022 |
Establishing a battery raw materials supply in the UK |
Jeremy Wrathall | Video Conference & face to face |
31 |
| 10 March 2022 |
Battery haulers in BritishGypsum |
Richard Ogle | Video Conference & face toface |
49 |
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 4
| mines | ||||
|---|---|---|---|---|
| 22 April 2022 | Safely Managing the Challenge of Change |
Various | Victoria Inn Victoria Station Road Sheffield S4 7YE |
150 |
| 12 May 2022 | No4 Shaft Lift Upgrade and the Complications of Fitting Lift Compliant Safety Gear to a Mine Lift System |
Gary Sinclair | Video Conference & face to face |
34 |
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 the IOM3. (Figures obtained from IOM3 Membership, Stoke. (IOM3 members indicating MIMinE as their preferred Local Society)
| Grade | August 2020 |
June 2022 |
Change |
|---|---|---|---|
| Corporate Members | |||
| HonoraryFellows | 8 | 3 | -5 |
| Fellows | 192 | 32 | -160 |
| Professional Members | 200 | 20 | -180 |
| Associate Members | 14 | 4 | -10 |
| Technician Members | 17 | 2 | -15 |
| Total Corporate Members | 431 | 61 | -370 |
| Non-Corporate Members | |||
| Affiliates | 46 | 3 | -43 |
| Professional Graduate | 23 | 3 | -20 |
| Graduate | 52 | 0 | -52 |
| Student | 202 | 50 | -162 |
| Total Non-Corporate Members | 323 | 56 | -267 |
| Non IOM3 Members | |||
| Life Members | 9 | 24 | +15 |
| TOTAL | 763 | 141 | -622 |
The Midland Institute of Mining Engineers has been actively supporting students at the University of Leeds and apprentices in a number of organisations.
The overall membership for the year decreased by -622: this is due to the change in sharing of data with IOM3, where members have not responded to the emails sent out by IOM3. A greater effort is required to encourage support for MIMinE membership across the 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 increased by 24 making it clear that this offering is a valuable means of continuing to provide the opportunity for more people to maintain their contact with the MIMinE.
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 5
Members of the 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. We would like to thank the Membership Committee and its Chairman, Mr Wyn Griffith, for its professionalism and support towards the membership.
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 9 March 2022. The following Young Members submitted papers:
Maria Negut Julio Vazquez Chavez Rithik Dhandapandi Lucas Diggins James Heslington
The winners of the J F Tunnicliffe paper competition – C S Littlewood memorial award
| POSITION |
NAME | AWARDED |
|---|---|---|
| 1~~st~~ |
Maria Negut | YPLC winner |
| 2~~nd~~ | Julio Vazquez Chavez | J F Tunnicliffe paper competition – C S Littlewood memorial award |
Prize money totalling £700.00 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.
The 2022 YPLC UK National Final was held on 4 May 2022 at The Armourers and Braziers Hall, London. The President of the Midland Institute of Mining Engineers, Mr Stewart Bullock, was one of the judges at the finals.
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 £1500.00.
University of Leeds – MIMinE Aviation Engineering Materials student prize
The Institute sponsors a prize award of £100 for best student achievement – 2 awards have been made this year as follows:
2020-21 – William Broadbent 2021-22 – Veronica Lee
Younger Members/Student 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.
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 6
Members’ Dinner
The Members’ Dinner was held at the Holiday Inn, High Road, Warmsworth, near Doncaster on Friday 8 October 2021.
The MIMinE AGM was held 8 October 2021 which 24 people attended.
The O H Schmill Medal was awarded to Jonathan F Tunnicliffe and Keith Lawrey.
MIMInE Honorary Fellowships were awarded to Jonathan F Tunnicliffe, Keith Lawrey and Norman Riley
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
Investment Policy document (WIP) is under review due to change in fund management.
Banking
HSBC UK Workshop Nottingham
During this year the Institute has established Internet Banking
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 take 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 c/o 74 Newsam Road KIlnhurst Mexborough South Yorkshire S64 5UN Telephone: 07305 255606
The Trustees have approved the Trustee’s report above.
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 7
Signature Date Steve. J. Straw Honorary Secretary Midland Institute of Mining Engineers
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 8
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
TRUST FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2022
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2022
| 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 2022
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 2022.
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
2.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME | ||||
| Investment income | 45,716 | 44,207 | ||
| Seminar | 2,460 | - | ||
| AGM | 830 | - | ||
| Life Membership Fees | 100 | 75 | ||
| IOM Grant | 4,820 | 3,233 | ||
| Local Society of the year prize | 1,000 | - | ||
| JFT Medal | - | 1,406 | ||
| ----------- | ----------- | |||
| 54,926 | 48,921 | |||
| EXPENSES | ||||
| Accountancy | 1,149 | 1,192 | ||
| Investment management fees | 12,495 | 2,808 | ||
| Printing, postage and stationery | 2,686 | 1,973 | ||
| Meeting expenses | 471 | 72 | ||
| Secretary expenses | 4,002 | 3,801 | ||
| Administrative expenses | 16,800 | 18,079 | ||
| Seminars | 5,992 | - | ||
| Year book | 2,087 | 206 | ||
| Medals | 3,836 | 2,859 | ||
| AGM dinner | 2,683 | - | ||
| Awards and prizes | 1,200 | - | ||
| Peake awards | 3,552 | 500 | ||
| Webster awards | 3,012 | 2,460 | ||
| Video conferencing | - | 144 | ||
| Miscellaneous | 1,019 | 366 | ||
| Equipment | 911 | 1,593 | ||
| ----------- | ----------- | |||
| 61,895 | 36,053 | |||
| ----------- | ----------- | |||
| Excess of income over expenditure for the year | (6,969) | 12,868 | ||
| ----------- | ----------- |
3.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
BALANCE SHEET
AS AT 31 JULY 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| INVESTMENTS | 1 & 2 | ||||
| Main Trust | 782,020 | 793,678 | |||
| Combined Dedicated Funds | 658,851 | 701,463 | |||
| ------------ | ------------ | ||||
| 1,440,871 | 1,495,141 | ||||
| CASH AT BANK | |||||
| HSBC accounts | 38,463 | 48,653 | |||
| Investec Wealth & Investment | 64,713 | 70,320 | |||
| ------------ | ------------ | ||||
| 103,176 | 118,973 | ||||
| -------------- | -------------- | ||||
| 1,544,047 | 1,614,114 | ||||
| -------------- | -------------- | ||||
| Financed By: | |||||
| CAPITAL ACCOUNT | |||||
| Balance brought forward | 1,614,114 | 1,377,122 | |||
| Excess of expenditure over income | |||||
| for the year | (6,969) | 12,868 | |||
| Revaluation of investments | (63,098) | 224,124 | |||
| ------------ | ------------ | ||||
| (70,067) | 236,992 | ||||
| -------------- | -------------- | ||||
| Balance carried forward | 1,544,047 | 1,614,114 | |||
| -------------- | -------------- |
The financial statements set out on pages 2 to 4 were approved by the Trustees on and signed on their behalf by:
P Hetherington
4.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
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 2022
£ 1,440,871 --------------
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
TRUST FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2022
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2022
| 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 2022
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 2022.
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
2.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| INCOME | ||||
| Investment income | 45,716 | 44,207 | ||
| Seminar | 2,460 | - | ||
| AGM | 830 | - | ||
| Life Membership Fees | 100 | 75 | ||
| IOM Grant | 4,820 | 3,233 | ||
| Local Society of the year prize | 1,000 | - | ||
| JFT Medal | - | 1,406 | ||
| ----------- | ----------- | |||
| 54,926 | 48,921 | |||
| EXPENSES | ||||
| Accountancy | 1,149 | 1,192 | ||
| Investment management fees | 12,495 | 2,808 | ||
| Printing, postage and stationery | 2,686 | 1,973 | ||
| Meeting expenses | 471 | 72 | ||
| Secretary expenses | 4,002 | 3,801 | ||
| Administrative expenses | 16,800 | 18,079 | ||
| Seminars | 5,992 | - | ||
| Year book | 2,087 | 206 | ||
| Medals | 3,836 | 2,859 | ||
| AGM dinner | 2,683 | - | ||
| Awards and prizes | 1,200 | - | ||
| Peake awards | 3,552 | 500 | ||
| Webster awards | 3,012 | 2,460 | ||
| Video conferencing | - | 144 | ||
| Miscellaneous | 1,019 | 366 | ||
| Equipment | 911 | 1,593 | ||
| ----------- | ----------- | |||
| 61,895 | 36,053 | |||
| ----------- | ----------- | |||
| Excess of income over expenditure for the year | (6,969) | 12,868 | ||
| ----------- | ----------- |
3.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
BALANCE SHEET
AS AT 31 JULY 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| INVESTMENTS | 1 & 2 | ||||
| Main Trust | 782,020 | 793,678 | |||
| Combined Dedicated Funds | 658,851 | 701,463 | |||
| ------------ | ------------ | ||||
| 1,440,871 | 1,495,141 | ||||
| CASH AT BANK | |||||
| HSBC accounts | 38,463 | 48,653 | |||
| Investec Wealth & Investment | 64,713 | 70,320 | |||
| ------------ | ------------ | ||||
| 103,176 | 118,973 | ||||
| -------------- | -------------- | ||||
| 1,544,047 | 1,614,114 | ||||
| -------------- | -------------- | ||||
| Financed By: | |||||
| CAPITAL ACCOUNT | |||||
| Balance brought forward | 1,614,114 | 1,377,122 | |||
| Excess of expenditure over income | |||||
| for the year | (6,969) | 12,868 | |||
| Revaluation of investments | (63,098) | 224,124 | |||
| ------------ | ------------ | ||||
| (70,067) | 236,992 | ||||
| -------------- | -------------- | ||||
| Balance carried forward | 1,544,047 | 1,614,114 | |||
| -------------- | -------------- |
The financial statements set out on pages 2 to 4 were approved by the Trustees on and signed on their behalf by:
P Hetherington
4.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
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 2022
£ 1,440,871 --------------