Midland Institute of Mining Engineers 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’ Annual Report for the year 1 August 2023 to 31 July 2024
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 minerals 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 workrelated 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 is 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 2023/2024 were received.
Additional Awards
The Noel Webster Travelling Scholarship provided support and part sponsorship to a value of £500 for the Institute of Materials, Minerals and Mining Young Persons’ Lecture Competition.
The Trust actively supported the membership initiative resulting in 16 Undergraduate & Graduate Student members (At a cost of £316.00).
Rithik Dhandapani attended the Hydrogen for Civil Aviation – H2 in the Aircraft course – 20-24 May 2024 at a cost of £503.
Rithik Dhandapani attended the applied Aerodynamics Conference – 16-17 July 2024 at a cost of £56.91.
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 2022/23 was presented to Peter Watson of EP UK Investments with a paper entitled “Modern Condition Monitoring Techniques Applied in Mining”.
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 three members to attend The Association of British Mining Equipment Companies (ABMEC- the UK Trade Association)) Annual Conference held at Delta Hotels by Marriott Nottingham Belfry on Thursday 22[nd] /23[rd] November 2023. At a cost of £1764) – this included travel & accommodation.
Three members attended the Ground Freezing Symposium held in London on the 10[th] -12[th] October 2023 at a cost of £1,847.
Additional Awards
The Peake Travelling Scholarship gave support and part sponsorship to a value of £500 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.
Adele Wilbraham was awarded this medal at the Annual General Meeting (AGM) on Friday 13 October 2023.
3.6 J.F. Tunnicliffe Medal
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
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 2
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.
This medal was not awarded in 2024/2024.
3.7 Thomas Adams Medal
This medal was not awarded in 2023/2024.
3.8 IOM3 Awards
Bob Leeming was presented with an IOM3 Certificate of Outstanding Service by the IOM3 President Kate Thornton at the AGM Dinner at the Mount Pleasant Hotel in October 2023.
Exceptional payments
Fattorini’s medal manufactures. No medals were purchased.
3.9 Review of activities
The members hold General and Technical meetings throughout the year. There were seven Trustees meetings held via video conference and face to face attendance. The Annual General Meeting took place in Doncaster with 79 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 12 April 2024 in Sheffield with 220 registered delegates. Advice was sought from the Foundation for Science and Technology, from time to time, regarding Charity Law.
MIMinE Fellowships were awarded to: Paul Lowery Steve Straw, Paul Bradley Elizabeth Klinkenberg Neil Battison Robert Fowell
Trustees Meeting
16 November 2023 21 December 2023 18 January 2024 15 February 2024 21 March 2024 16 May 2024 12 July 2024
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 Group (MTG) of the IOM3 and has several members who sit on that Board.
The administrative duties and office facilities were provided by Claire Stapleton: Administration Services
Midland Institute of Mining Engineers c/o 74 Newsam Road Kilnhurst Mexborough South Yorkshire S64 5UN Telephone: 07305 255606
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 3
Following the request for permission to use Members’ contact details for specified purposes, as per the Data Protection Act, there are now 261 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 Mount Pleasant on 13 October 2023, (in attendance 79 members) the President, Adrian Carley and Ex Officio Trustees are listed below along with Trustees from that date to the date of the next AGM.
| Ex Officio Trustees | Trustees |
|---|---|
| Adrian Carley (President) | John Hind (Junior Vice President) |
| Peter Hetherington (Honorary Treasurer) | Bill Tinsley |
| Steve Straw (Honorary Secretary) | Ian Dixon |
| Lee Rawson (Past President) | Elizabeth Klinkenberg |
| Stuart Walker (Vice President) | Neil Jackson |
| Paul Bradley | |
| Paul Lowery | |
| Richard Murrell | |
| Wyn Griffith | |
| Vince Fowler | |
| Sharon Strugnell |
The Governing Board Members invited four members to attend Trustees meetings until the next AGM: Robert Siddall, Kevin Sabin, Darron Dixon-Hardy and Ben Hodgetts. There is also a Younger Members Representative: James Heslington
General and Technical Meetings held during the year.
| DATE | MEETING | SPEAKER | VENUES | ATTENDANCE |
|---|---|---|---|---|
| 9 November 2023 |
Design, Engineering & Construction of the Grosvenor Metallurgical Coal Mine Drifts – Moranbah, Queensland, Australia |
Richard Murrell | Knottingley & Mansfield MRS and MS Teams |
51 |
| 14 December 2023 |
Wide head miner and crawler bunker boiler car system |
Michelle Burich | Knottingley & Mansfield MRS and MS Teams |
57 |
| 11 January 2024 |
Caving Behaviour – An approach based on scientific planning v/s actual |
A Gandhe | Knottingley & Mansfield MRS and MS Teams |
56 |
| 11 February 2024 |
Increasing continuous miners’ availability at CPL |
Dwight Mawoko | Knottingley & Mansfield MRS and MS Teams |
79 |
| 14 March 2024 |
Cost Benefit analysis of using electronic detonators in a large carboniferous limestone quarry in the North of England |
Bill Birch | Knottingley & Mansfield MRS and MS Teams |
44 |
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 4
| 12 April 2024 | Safely Managing the Challenge of Change |
Various | Victoria Inn Victoria Station Road Sheffield S4 7YE |
210 |
|---|---|---|---|---|
| 9 May 2024 | Dealing with natural hazards in Poland |
Andy Birtles | Video Conference & face to face |
29 |
MIMinE Fellowships were awarded to Bill Birch at the March meeting and Bob Leeming at the May meeting A certificate was posted out to Phil Baines.
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. (IOM3 members indicating MIMinE as their preferred Local Society)
| Grade | August 2023 |
August 2024 |
Change |
|---|---|---|---|
| Corporate Members | |||
| HonoraryFellows | 3 | 2 | -1 |
| Fellows | 53 | 63 | +10 |
| Members | 57 | 49 | -8 |
| Associate Members | 6 | 16 | +10 |
| Technician Members | 3 | 3 | 0 |
| Total Corporate Members | 102 | 133 | +11 |
| Non-Corporate Members | |||
| Affiliates | 9 | 12 | +3 |
| Student | 57 | 77 | +20 |
| Total Non-Corporate Members | 73 | 89 | +23 |
| Non IOM3 Members | |||
| Members | 1 | 6 | +5 |
| Life Members | 29 | 32 | +3 |
| TOTAL | 214 | 260 | +46 |
The Midland Institute of Mining Engineers has been actively supporting students at the University of Leeds and CSM and apprentices in several organisations.
The overall membership for the year increased by 46 following recruitment drives and contacting member, which is very encouraging. A greater effort is required to encourage support for MIMinE membership across the range of membership grades 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 8 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.
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.
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 5
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 on 21 February 2024 at Devonshire Hall, Leeds. The following Young Members submitted papers:
Chad Davies Elresalla Diada Dadum James Scott Rithik Dhandapani
The winners of the J F Tunnicliffe paper competition – C S Littlewood memorial award
| POSITION | NAME | AWARDED |
|---|---|---|
| 1st | Rithik Dhandapani | YPLC winner |
| 2nd | Chad Davies | J F Tunnicliffe paper competition – C S Littlewood memorial award |
Prize money totalling £450.00 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 2024 YPLC UK National Final was held on 15 May 2024 at The Armourers and Braziers Hall, London. The President of the Midland Institute of Mining Engineers, Mr Adrian Carley 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 is pleased to continue support for the National final with part sponsorship from the Peake and Webster Funds totalling £1000.00.
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.
Members’ Dinner
The Members’ Dinner was held at Mount Pleasant Hotel, Doncaster on Friday 13 October 2023. The MIMinE AGM was held 13 October 2023 which 79 people attended. The O H Schmill Medal was awarded to Adele Wilbraham.
MIMinE Fellowships were presented to Past Presidents still in membership as follows: Peter Hetherington 1996/97 Bill Tinsley 1999/2000 Alan Auld 2001/02 Kevin Sabin 2005/06 Darron Dixon-Hardy 2006/07 Wyn Griffith 2008/09 Elizabeth Klinkenberg 2010/11 Ian Dixon 2015/16 Lee Rawson 2022/23
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 6
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 change in fund management.
Banking
HSBC UK Workshop Nottingham
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 Midland Institute of Mining Engineers also has a reserve account which applies to General Fund expenditure only.
A cash balance of £10,000 is maintained in reserve to cover four months’ standing payments.
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.
Signature
Date 09.09.24. Steve. J. Straw Honorary Secretary Midland Institute of Mining Engineers
Affiliated to the Institute of Materials, Minerals and Mining (IOM[3] )
Page 7
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
TRUST FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
| 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 2024
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 2024.
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 2024
| ----------------------------- 2024 ----------------------------- | ----------------------------- 2024 ----------------------------- | ----------------------------- 2024 ----------------------------- | ----------------------------- 2024 ----------------------------- | 2023 | |
|---|---|---|---|---|---|
| MIDLA0216 | MIDLA0226 | MIDLA0227 | |||
| Restricted | |||||
| Unrestricted | Dedicated | Restricted | |||
| Total | Main fund | Fund | Acc Income | Total | |
| £ | £ | £ | £ | £ | |
| Income: | |||||
| Investment income | 41,813 | 23,107 | 18,706 | - | 42,632 |
| Seminar | 13,720 | 13,720 | - | - | 12,019 |
| AGM | 3,668 | 3,668 | - | - | 5,799 |
| Membership fees | 160 | 160 | - | - | 125 |
| Bank interest | 283 | 283 | - | - | - |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| 59,644 | 40,938 | 18,706 | - | 60,575 | |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| Expenditure: | |||||
| Investment management fees | 12,003 | 6,448 | 5,555 | - | 11,954 |
| Administration | 24,424 | 24,424 | - | - | 23,072 |
| Year book | 1,111 | 1,111 | - | - | 1,023 |
| Accountancy | 1,428 | 1,428 | - | - | 1,350 |
| Medals | - | - | - | - | 1,368 |
| Awards | 550 | 550 | - | - | 1,015 |
| Meeting & event expenses | 935 | 935 | - | - | 1,049 |
| Equipment & video conferencing | 2,001 | 2,001 | - | - | 49 |
| Membership | 85 | 85 | - | - | 228 |
| Miscellaneous | 293 | 293 | - | - | 2,767 |
| AGM | 5,294 | 5,294 | - | - | 5,488 |
| Seminars | 12,620 | 12,620 | - | - | 9,738 |
| Peake Fund awards | 6,137 | - | 6,137 | - | 4,030 |
| Webster Fund awards | 1,816 | - | 1,816 | - | 1,894 |
| Amco Fundawards | 3,404 | - | 3,404 | - | 6,688 |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| 72,101 | 55,189 | 16,912 | - | 71,713 | |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| Excess of expenses over | |||||
| income for the year | (12,457) | (14,251) | 1,794 | - | (11,138) |
| ------------- | ------------- | ------------- | ------------- | ------------- |
3.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
BALANCE SHEET
AS AT 31 JULY 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| INVESTMENTS | 2 & 4 | ||||
| Main Trust | 820,461 | 773,414 | |||
| Combined Dedicated Funds | 722,870 | 653,677 | |||
| ------------ | ------------ | ||||
| 1,543,331 | 1,427,091 | ||||
| CASH AT BANK | |||||
| HSBC accounts | 38,145 | 42,525 | |||
| Investec Wealth & Investment | 68,908 | 55,075 | |||
| ------------ | ------------ | ||||
| 107,053 | 97,600 | ||||
| -------------- | -------------- | ||||
| 1,650,384 | 1,524,691 | ||||
| -------------- | -------------- | ||||
| Financed By: | |||||
| CAPITAL ACCOUNT | |||||
| Balance brought forward | 1,524,691 | 1,544,047 | |||
| Excess of expenditure over income | |||||
| for the year | (12,457) | (11,138) | |||
| Revaluation of investments | 138,150 | (8,218) | |||
| ------------ | ------------ | ||||
| 125,693 | (19,356) | ||||
| -------------- | -------------- | ||||
| Balance carried forward | 1,650,384 | 1,524,691 | |||
| -------------- | -------------- |
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 2024
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.
4. INVESTMENTS
Valuation at 31 July 2024
£ 1,543,331 --------------
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
TRUST FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
| 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 2024
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 2024.
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 2024
| ----------------------------- 2024 ----------------------------- | ----------------------------- 2024 ----------------------------- | ----------------------------- 2024 ----------------------------- | ----------------------------- 2024 ----------------------------- | 2023 | |
|---|---|---|---|---|---|
| MIDLA0216 | MIDLA0226 | MIDLA0227 | |||
| Restricted | |||||
| Unrestricted | Dedicated | Restricted | |||
| Total | Main fund | Fund | Acc Income | Total | |
| £ | £ | £ | £ | £ | |
| Income: | |||||
| Investment income | 41,813 | 23,107 | 18,706 | - | 42,632 |
| Seminar | 13,720 | 13,720 | - | - | 12,019 |
| AGM | 3,668 | 3,668 | - | - | 5,799 |
| Membership fees | 160 | 160 | - | - | 125 |
| Bank interest | 283 | 283 | - | - | - |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| 59,644 | 40,938 | 18,706 | - | 60,575 | |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| Expenditure: | |||||
| Investment management fees | 12,003 | 6,448 | 5,555 | - | 11,954 |
| Administration | 24,424 | 24,424 | - | - | 23,072 |
| Year book | 1,111 | 1,111 | - | - | 1,023 |
| Accountancy | 1,428 | 1,428 | - | - | 1,350 |
| Medals | - | - | - | - | 1,368 |
| Awards | 550 | 550 | - | - | 1,015 |
| Meeting & event expenses | 935 | 935 | - | - | 1,049 |
| Equipment & video conferencing | 2,001 | 2,001 | - | - | 49 |
| Membership | 85 | 85 | - | - | 228 |
| Miscellaneous | 293 | 293 | - | - | 2,767 |
| AGM | 5,294 | 5,294 | - | - | 5,488 |
| Seminars | 12,620 | 12,620 | - | - | 9,738 |
| Peake Fund awards | 6,137 | - | 6,137 | - | 4,030 |
| Webster Fund awards | 1,816 | - | 1,816 | - | 1,894 |
| Amco Fundawards | 3,404 | - | 3,404 | - | 6,688 |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| 72,101 | 55,189 | 16,912 | - | 71,713 | |
| ------------- | ------------- | ------------- | ------------- | ------------- | |
| Excess of expenses over | |||||
| income for the year | (12,457) | (14,251) | 1,794 | - | (11,138) |
| ------------- | ------------- | ------------- | ------------- | ------------- |
3.
MIDLAND INSTITUTE OF MINING ENGINEERS (CHARITY NUMBER 1177100)
BALANCE SHEET
AS AT 31 JULY 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| INVESTMENTS | 2 & 4 | ||||
| Main Trust | 820,461 | 773,414 | |||
| Combined Dedicated Funds | 722,870 | 653,677 | |||
| ------------ | ------------ | ||||
| 1,543,331 | 1,427,091 | ||||
| CASH AT BANK | |||||
| HSBC accounts | 38,145 | 42,525 | |||
| Investec Wealth & Investment | 68,908 | 55,075 | |||
| ------------ | ------------ | ||||
| 107,053 | 97,600 | ||||
| -------------- | -------------- | ||||
| 1,650,384 | 1,524,691 | ||||
| -------------- | -------------- | ||||
| Financed By: | |||||
| CAPITAL ACCOUNT | |||||
| Balance brought forward | 1,524,691 | 1,544,047 | |||
| Excess of expenditure over income | |||||
| for the year | (12,457) | (11,138) | |||
| Revaluation of investments | 138,150 | (8,218) | |||
| ------------ | ------------ | ||||
| 125,693 | (19,356) | ||||
| -------------- | -------------- | ||||
| Balance carried forward | 1,650,384 | 1,524,691 | |||
| -------------- | -------------- |
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 2024
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.
4. INVESTMENTS
Valuation at 31 July 2024
£ 1,543,331 --------------