**Company registration number 02754293 (England and Wales) Charity registration number 1179558 (England and Wales)**
# **The Institution of Analysts & Programmers Annual report and unaudited financial statements For the year ended 31 May 2025**
## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Legal and administrative information**
**Trustees** Mr G Fenton Mr E J Keen Mr S Reed A J C Revell Mr Dinesh Chacko (Appointed 15 February 2025) **Secretary** Graham Fenton FIAP **Registered office** Boundary House Boston Road England London W7 2QE **Independent examiner** S Glass FCCA DJH Nantwich Limited 17 Alvaston Business Park Middlewich Road Nantwich CW5 6PF **Bankers** Starling Bank Limited London Fruit & Wool Exchange 1 Duval Square London E1 6PW **Legal advisors** WBW Solicitors LLP Church House Queen Street Newton Abbot Devon TQ12 2QP
## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Contents**
||**Page**|
|---|---|
|Director General's report|1 - 2|
|Trustees' report|3 - 9|
|Independent examiner's report|10|
|Statement of financial activities|11|
|Balance sheet|12|
|Notes to the financial statements|13 - 19|
## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Director general's report FOR THE YEAR ENDED 31 MAY 2025**
The Institution entered its second half-century during a period of continued economic uncertainty. This has had an effect on both the Institution and its membership that largely fund its activities.
While our membership revenue has dropped on the previous year, we began a period of re-structuring and examining our overheads and our ways of working.
Our webinar programme continues to perform strongly, consistently attracting good attendances across a wide range of topics that are open to members, non-members and the general public.
Our work to encourage high standards of professional and ethical conduct in software development is more important than ever, in light of recent high profile IT scandals in 2025. As society becomes increasingly reliant on software systems, public confidence depends on the quality and trustworthiness of these systems.
## **Finance**
The Institution has delivered an improved annual surplus compared to the previous year, supported by restructuring activities and reduced overheads. Although membership income declined, the organisation succeeded in strengthening its unrestricted funds. The Trustees remain mindful of one-off expenditure to improve our website and social media to ensure the Institution can fulfil its charitable mission effectively.
## **Influence**
The Institution continues to contribute to the development of the wider IT profession, particularly through its previous work as part of the Cyber Security Alliance.
The Institution has also been active in various standards committees during the year. This work is important in improving software for society. In particular, its work through its subsidiary, the Trustworthy Software Foundation, continues to influence developments around the BS10754 standard.
## **Membership**
Membership is an important focus for the Institution as ultimately it is through its members’ subscriptions and voluntary contributions that it delivers its societal impact.
The Institution continues to develop its 10Es programme to attract members:-
- Enhance: We will enhance what we offer to our members by focusing on career-oriented benefits that will help them develop professionally.
- Exchange: We will provide our members with opportunities to exchange ideas, both face-to-face and online.
- Encourage: We will actively encourage our members to develop their careers by finding them mentors from within our membership.
- Empower: We will empower our members, especially our Fellows, to have a greater voice within our profession.
- Ensure: We will ensure the quality of our membership remains outstanding by extending the peer review procedure that applications receive and by providing online verification of membership.
- Enable: We will enable members to contribute more to the running and development of the Institution by establishing opportunities for them to help the Institution flourish.
- Educate: We will continue to educate our members and the wider profession by publishing a learned journal and by developing a Body of Knowledge for the profession.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Director general's report (continued)**
## **FOR THE YEAR ENDED 31 MAY 2025**
- Enlighten: We will enlighten our profession, shaping its development by liaising more with government, academia and employers.
- Engender: We will engender the spirit of professional duty in our members so that they can evangelise the need for professionalism in the wider IT community.
- Evolve: We will evolve into a higher profile and more significant specialist professional body by increasing our relevance to our own members, the wider profession and Society at large.
## **Outlook**
The challenging economic climate is expected to continue into our next financial year.
However, the Trustees remain optimistic that recent decisions will strengthen the Institution’s ability in software development.
We will continue to expand opportunities for members to participate in our work, including launching new communities of practice and further developing our webinar programme to inspire greater volunteer engagement and support for our charitable objects.
Alastair Revell FIAP Director General Dated: 18 February 2026
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Trustees' report (including directors' report) FOR THE YEAR ENDED 31 MAY 2025**
The trustees present their report and financial statements for the year ended 31 May 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Institution's memorandum and articles of association, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)".
## **Introduction**
The Institution was established in 1972 as an unincorporated entity. It incorporated on 8 October 1992 as a company limited by guarantee, operating as a not-for-profit professional membership body. It was granted a Coat of Arms by Letters Patent issued by Garter Principal King at Arms under a warrant from the Earl Marshal on 13th March 1994. It formally registered as a charity with the Charity Commission on 15 August 2018.
## **The Institution’s objectives**
The Institution is incorporated as a company limited by guarantee and registered in England and Wales (under number 02754293). It is registered as a charity (under number 1179558) with the Charity Commission in England and Wales.
The Institution’s Objects are:-
- (a) to advance the science of the development of secure and carefully designed software and to promote public education therein; and
- (b) to advance the education of the public on the subject of software development and related disciplines as well as to promote greater understanding and appreciation of the impact of software on society for the public benefit.
The Institution serves those involved in the development of software and society at large.
## Delivering Public Benefit
The Institution delivers the charitable objects set out in its Articles of Association to provide public benefit through a programme of activities under the direction of its Trustees, which the Institution and its members facilitate, largely through its volunteer community and their subscriptions and other contributions.
The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the guidance published by the Charities Commission in deciding what activities the Institution should undertake as a charity.
The Institution has 234 fellows spread across the United Kingdom and further afield who contribute voluntarily to its work through attendance at Institution events as well as working with other groups engaging with government and academia to further its charitable objects.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Trustees' report (including directors' report) (continued) FOR THE YEAR ENDED 31 MAY 2025**
## **Activities**
The Institution’s Articles of Association permit twelve types of activity in achieving its charitable objects, which the Trustees have used below to structure their report on its activities during the year.
The Institution's activities all aim at benefiting the public by **improving software for society** .
_1. encourage and promote high standards of education, qualification, competence, leadership, management, knowledge and professionalism as well as high ethical standards amongst those involved in commissioning, developing, securing, installing, maintaining and testing software, adopting any lawful means conducive to maintaining the highest standards of professional skill and conduct amongst members of the Institution_
The Institution has continued to operate as a professional body, grading its members according to their professional qualifications and experience and ensuring that they are maintaining their skills through continuing professional development in what is a rapidly evolving profession.
Members abide by a Code of Conduct, underpinned by disciplinary regulations, which emphasises their duties to the public.
The Trustees believe that this benefits society by encouraging its members to develop software to the highest of standards at a time when the general public are increasingly aware of how much of their daily lives rely on well-written code.
The Institution continues to support the Trustworthy Software Foundation, which it controls. The Foundation signposts and promotes British Standard BS10754 on Trustworthy Systems and is the vehicle the Institution uses to engage on important work in evolving this standard into an international one and is actively engaged in developing verification schemes against the standard.
The Institution continues to work on its FURST guidance for software developers, which aims at enhancing their professional practice and so improving software for society.
_2. facilitate the professional development of those engaged in developing software to improve the quality, trustworthiness and security of software for the public benefit_
The Institution has continued to facilitate the professional development of those engaged in developing software during the reporting period.
The Institution continues to signpost valuable material for the development of trustworthy systems by supporting the work of its subsidiary, the Trustworthy Software Foundation. The resources that it makes publicly available through this initiative include videos and guides on building trustworthy and secure systems. This material helps facilitate the professional development of both new entrants and experienced practitioners alike. It enables them to improve the quality, trustworthiness and security of the systems they produce to the benefit of the public.
The Institution continued to run a series of free webinars aimed at enhancing the skills and knowledge of practitioners during the reporting period, which were open to members and non-members alike.
The Institution continues to signpost and develop its FURST programme, which aims to improve the technical practice of software developers.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Trustees' report (including directors' report) (continued) FOR THE YEAR ENDED 31 MAY 2025**
_3. liaise with government departments and other bodies concerned with statutory or other qualifications, and with universities and other educational institutes and authorities in the furtherance of education and training in the development, trustworthiness, security, installation, maintenance and testing of software_
The Institution continues to engage with government agencies such as DSIT and the National Cyber Security Centre though the Cyber Security Alliance. The Alliance is a collaborative body of 16 bodies with interests in the development of cyber security in the United Kingdom. These engagements have been around the education and development of professionals working in cyber security.
The Institution continues to liaise with several universities with the aim of encouraging the education and development of the next generation of practitioners.
_4. facilitate the exchange and publication of information and ideas on the development, trustworthiness, security, installation, maintenance and testing of software, to encourage research therein and to publish the results thereof_
The Institution’s webinar programme is designed to facilitate the exchange of information and ideas and is increasingly adopting an interactive and participative engagement model. The Institution invites speakers to its webinars who promote interesting and engaging themes in software development.
_5. promote and raise awareness within society about the need for high quality, trustworthy and secure software systems for the benefit of the public_
The Institution continues to signpost articles through its social media channels to raise public awareness around the importance of high quality, trustworthy and secure software systems.
Its involvement in programmes such as the CyberOSPA Awards helps promote the important and raise
awareness of the need for trustworthy and secure software.
The Institution also continues to publish articles aimed at promoting and raising public awareness in light of recent high profile concerns around the quality and fitness for purpose of some software trustworthy and secure software systems.
_6. promote and raise awareness of diversity and equality within the software development profession_
The Trustees are very mindful about the poor gender diversity within software engineering and related disciplines. They remain committed to doing much more in this space.
The Trustees are acutely aware that the Trustee Board lacks diversity and is actively working to address
this.
_7. promote, establish and support standards and codes of conduct, ethics and practice for the development, installation, maintenance and testing of software_
The Trustees keep the Institution’s own Code of Conduct under constant review as the profession
continues to evolve.
The Institution encourages its membership, through its Code of Conduct and grading criteria, to actively
work to the highest of professional standards.
The Institution has supported several Fellows in various ways in developing standards and other forms of guidance through their work with national standards and other similar bodies.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Trustees' report (including directors' report) (continued) FOR THE YEAR ENDED 31 MAY 2025**
_8. invite, receive, hear and publish communications relating to the science, teaching, application or use of software and to grant prizes or other awards in respect of them_
The Institution continues to run its academic prize scheme, which encourages outstanding performance by university students working towards their degrees.
The scheme awards recipients with a certificate confirming their outstanding performance, several years’ membership aimed at encouraging them to make a commitment to working to high professional and ethical standards in the public interest and a sum of money to assist them in the early stages of their career.
However, several of the Institution’s webinars invited, received, heard and published material about software development practice and have attracted a good number of attendees.
_9. hold or supervise examinations and award certificates, diplomas, prizes, bursaries or scholarships either alone or jointly with other educational or professional bodies in relation to the development or use of software_
The Trustees were pleased to continue the Institution’s academic prize scheme during the year. The Trustees do not consider the development of examinations or other accreditations to be a priority for the Institution at present with other bodies offering suitable accreditation.
_10. prepare, print and publish criteria for the teaching of and training in software development and its_
_related disciplines_
The Trustees have prioritised the Institution’s resources on other areas during the year satisfied that other bodies are serving this area.
However, their ongoing support of the Institution’s associated organisation, the Trustworthy Software Foundation, continues to sign post through its web site material beneficial to academic staff designing and teaching on software development programmes.
_11. confer, consult, communicate or collaborate with other scientific, professional, educational or technical bodies with a view to pursuing common objects in software development and related subjects as well as to represent the software development profession nationally and internationally_
The Institution continued to collaborate with its peer bodies in the Cyber Security Alliance during the year. These include the Institution of Engineering and Technology (IET), BCS The Chartered Institute for IT and the Chartered Institute for Information Security (CIISec), along with other bodies such as the Worshipful Company of Information Technologists (WCIT), ISACA and the Security Institute and a number of certification bodies such as ISC(2) and CREST amongst others.
The Institution has been involved in supporting Fellows working in both national and international standards through its subsidiary body the Trustworthy Software Foundation, particularly in work around the BS10574 standard.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Trustees' report (including directors' report) (continued) FOR THE YEAR ENDED 31 MAY 2025**
_12. enable and encourage those engaged in or interested in software and its development to meet and correspond in order to exchange ideas and information on its science, practice, teaching, application and use_
The Cyber Security Community of Practice (Cyber CoP) provides a mechanism for enabling and encouraging members interested in the cyber security aspects of software development to meet and correspond.
The Community of Practice comprises twelve Fellows (FIAP) and two Members (MIAP). The Trustees are pleased with the progress the group has made and are actively looking at other areas of practice where they could usefully establish other communities of practice.
The Trustees believe there are several areas where such groups could deliver public benefit by helping to advance thinking in these areas.
## **Financial review**
Unrestricted funds at the end of the year totalled £99,014, of which £15,000 is designated as planned expenditure to improve the website. The remaining £84,014 remains as undesignated funds. It is the policy of the trustees to maintain undesignated funds at a level equivalent to twelve months' expenditure. The trustees have continued to ensure that reserves are adequate and, in the event of a significant drop in income, they will be able to continue the Institution's current activities.
The trustees recognise that funds are held in excess of their reserves policy, and the intention is to utilise these to support the future growth and initiatives of the charity.
The trustees have assessed the major risks to which the Institution is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees are satisfied that sufficient funding will be available for the Institution to continue operating for the foreseeable future. The trustees have budgeted for a surplus position for the year to 31 May 2026.
## **Structure, governance and management**
The Institution is a charitable company limited by guarantee governed by its articles of association, which establishes that the Trustee Board is the ultimate governing body. Its constitution and powers are set out in its Articles of Association.
The Trustee Board comprises the following:-
- (a) up to six Elected Trustees elected at a general meeting by the membership;
- (b) up to three Lay Trustees appointed from outside of the membership by the Trustee Board; (c) an appointed Trustee to act as Treasurer as an Ex Officio Trustee;
- (d) the Director General as an Ex Officio Trustee (unless remunerated);
- (e) the Chair of the Council as an Ex Officio Trustee;
- (f) the Vice-Chair of the Council as an Ex Officio Trustee.
The Trustees elect the Institution’s President and Vice-President from the Elected Trustees on the Trustee Board to serve from their first meeting after an AGM until the first meeting after the following AGM. The Trustees also appoint the Treasurer to serve for the same period.
The constitution provides for an Advisory Council, elected by the membership. This is currently dormant but the Trustees remain committed to establish it once viable.
The Trustees are also the directors for the purposes of company law.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Trustees' report (including directors' report) (continued) FOR THE YEAR ENDED 31 MAY 2025**
The Trustees who served during the year and up to the date of signature of the financial statements are given below, including their attendance at Trustee Board meetings:-
|**Trustee**
**Attendance**
**Eligible**
**Present**|**Trustee**
**Attendance**
**Eligible**
**Present**|**Trustee**
**Attendance**
**Eligible**
**Present**|
|---|---|---|
|D Chacko (Appointed 15.02.25)|2|2|
|G Fenton|4|4|
|EJ Keen|4|4|
|PB Lynham (Resigned 15.02.25)|3|3|
|S Reed|4|0|
|AJC Revell|4|4|
The Trustee Board can co-opt individuals to be members of the Board if vacancies exist.
The Elected Trustees are members of the Institute, elected by the membership at the AGM to serve for a period of three years.
New trustees/directors are given training on appointment regarding:
- the Institution’s aims
- their legal obligations under company and charity law
- the operation of the Institution and the decision making process
- the Institution’s future development plans
- the Institution’s recent financial performance
None of the Trustees have any beneficial interest in the Institution. All of the Trustees are currently members of the Institution and guarantee to contribute £1 in the event of a winding up.
The Trustee Board approves ordinances, rules, regulations or byelaws that are subordinate to the Articles of Association to regulate the affairs of the Institution, as needed, from time-to-time.
The Trustees delegate the management of the Institution to the Director General who is empowered to form an Executive Board to assist in its management, which may comprise of paid staff and volunteers.
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
**Trustees' report (including directors' report) (continued) FOR THE YEAR ENDED 31 MAY 2025**
## **Compliance with legislation**
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The Trustees’ report was approved by the Institution’s Trustee Board.
Graham Fenton FIAP Trustee and Director Dated: 18 February 2026
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Independent examiner's report**
## **TO THE TRUSTEES OF THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
I report to the trustees on my examination of the financial statements of The Institution of Analysts & Programmers (the charitable company) for the year ended 31 May 2025.
## **Responsibilities and basis of report**
As the trustees of the charitable company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charitable company as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I 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.
S Glass FCCA DJH Nantwich Limited 17 Alvaston Business Park Middlewich Road Nantwich Cheshire CW5 6PF
Dated: 18 February 2026
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## **THE INSTITUTION OF ANALYSTS & PROGRAMMERS**
## **Statement of financial activities including income and expenditure account**
## **FOR THE YEAR ENDED 31 MAY 2025**
|**Unrestricted**
**funds**
**2025**
**Notes**
**£**
**Income from:**
Membership fees, etc.
**4**
44,748
Investments
**3**
3,183
**Total income**
47,931
**Expenditure:**
Total expenses
**5**
21,333
Other
**7**
8
**Total resources expended**
21,341
Net gains/(losses) on investments
**8**
344
**Net movement in funds**
26,934
Fund balances at 1 June 2024
72,080
**Fund balances at 31 May 2025**
99,014|Total
2024
**£**
48,063
2,138|
|---|---|
||50,201|
||44,860|
||-|
||44,860|
||1,460|
||6,801
65,279|
||72,080|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## **The Institution of Analysts & Programmers**
## **Balance sheet**
## **As at 31 May 2025**
|**Notes**
**Fixed assets**
Tangible assets
**12**
Investments
**11**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**14**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charitable company**
Unrestricted funds
**15**|**2025**
**£**
1,004
79,707
80,711
(2,549)|**£**
192
20,660
20,852
78,162
99,014
99,014
99,014|**2024**
**£**
**£**
297
20,316
20,613
935
54,770
55,705
(4,238)
51,467
72,080
72,080
72,080|**2024**
**£**
**£**
297
20,316
20,613
935
54,770
55,705
(4,238)
51,467
72,080
72,080
72,080|
|---|---|---|---|---|
|||||20,613
51,467|
|||||72,080|
|||||72,080|
|||||72,080|
The company is entitled to exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 18 February 2026
Mr G Fenton **Trustee and Director**
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## **The Institution of Analysts & Programmers**
## **Notes to the financial statements For the year ended 31 May 2025**
## **1 Accounting policies**
## **Charity information**
The Institution of Analysts & Programmers is a private company limited by guarantee incorporated in England and Wales, no. 02754293. The registered office is Boundary House, Boston Road, London W7 2QE.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charitable company's memorandum and articles of association, the Charities Act 2011, the Companies Act 2006, FRS102 (the Financial Reporting Standard applicable in the UK and Republic of Ireland) 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 (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention and include the results of the charity's operations which are described in the Trustees' Report and all of which are continuing. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees consider that there are no material uncertainties that may cast significant doubt on the charitable company's ability to continue as a going concern and they have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
The company does not currently have any restricted or endowment funds.
## **1.4 Income**
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Membership subscriptions are recognised on receipt.
## **1.5 Expenditure**
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charitable company to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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## **The Institution of Analysts & Programmers**
## **Notes to the financial statements (continued)**
## **For the year ended 31 May 2025**
## **1 Accounting policies**
## **(Continued)**
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment 33.33% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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## **The Institution of Analysts & Programmers**
## **Notes to the financial statements (continued) For the year ended 31 May 2025**
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Income from listed investments|1,207|1,147|
|Interest receivable|1,976|991|
||3,183|2,138|
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## **The Institution of Analysts & Programmers**
## **Notes to the financial statements (continued)**
## **For the year ended 31 May 2025**
|**4**|**Membership fees, etc.**|||
|---|---|---|---|
|||**Total**|Total|
|||**2025**|2024|
|||**£**|£|
||Membership subscriptions|44,748|48,063|
|**5**
**Total expenses**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**2025**
**2024**
**£**
**£**
Depreciation and impairment
96
148
Administration costs
4,150
24,110
Travelling expenses
530
487
Office rent
616
1,871
Telecommunications
773
1,343
Postage, mailing and pocket diaries
506
2,325
Printing and stationery
600
1,787
Marketing
6,600
3,600
Subscriptions
56
117
Computer expenses and software maintenance
1,877
2,156
Legal and professional fees
648
1,362
Accountancy
1,950
1,859
Bank charges
1,353
2,176
Insurance
1,329
1,225
Sundry expenses
249
294
21,333
44,860|**5**
**Total expenses**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**2025**
**2024**
**£**
**£**
Depreciation and impairment
96
148
Administration costs
4,150
24,110
Travelling expenses
530
487
Office rent
616
1,871
Telecommunications
773
1,343
Postage, mailing and pocket diaries
506
2,325
Printing and stationery
600
1,787
Marketing
6,600
3,600
Subscriptions
56
117
Computer expenses and software maintenance
1,877
2,156
Legal and professional fees
648
1,362
Accountancy
1,950
1,859
Bank charges
1,353
2,176
Insurance
1,329
1,225
Sundry expenses
249
294
21,333
44,860|**5**
**Total expenses**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**2025**
**2024**
**£**
**£**
Depreciation and impairment
96
148
Administration costs
4,150
24,110
Travelling expenses
530
487
Office rent
616
1,871
Telecommunications
773
1,343
Postage, mailing and pocket diaries
506
2,325
Printing and stationery
600
1,787
Marketing
6,600
3,600
Subscriptions
56
117
Computer expenses and software maintenance
1,877
2,156
Legal and professional fees
648
1,362
Accountancy
1,950
1,859
Bank charges
1,353
2,176
Insurance
1,329
1,225
Sundry expenses
249
294
21,333
44,860|
|---|---|---|
||**2025**
**£**
96
4,150
530
616
773
506
600
6,600
56
1,877
648
1,950
1,353
1,329
249
21,333|**2024**
**£**
148
24,110
487
1,871
1,343
2,325
1,787
3,600
117
2,156
1,362
1,859
2,176
1,225
294|
|||44,860|
Included in Accountancy are fees to the Independent Examiner of £1,050 (2024 - £1,000) and £900 (2024 - £859) for other services.
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year, but 1 trustee was reimbursed a total of £530 travelling expenses.
- 16 -
## **The Institution of Analysts & Programmers**
## **Notes to the financial statements (continued)**
## **For the year ended 31 May 2025**
## **7 Other expenditure**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Net loss on disposal of tangible fixed assets|8|-|
## **8 Gains and losses on investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|344|1,460|
## **9 Employees**
There were no employees during the year.
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Fixed asset investments**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 June 2024|20,316|
|Valuation changes|344|
|At 31 May 2025|20,660|
|**Carrying amount**||
|At 31 May 2025|20,660|
|At 31 May 2024|20,316|
- 17 -
## **The Institution of Analysts & Programmers**
## **Notes to the financial statements (continued)**
## **For the year ended 31 May 2025**
## **11 Fixed asset investments**
|**Fixed asset investments**||**(Continued)**|
|---|---|---|
||**2025**|**2024**|
|Investments at fair value comprise:|**£**|**£**|
|M & G Charifund units|20,660|20,316|
The investment is included in the financial statements at fair value, which is based on the market value of the units. The original cost was £20,000.
## **12 Tangible fixed assets**
|**Cost**
At 1 June 2024
Disposals
At 31 May 2025
**Depreciation and impairment**
At 1 June 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 May 2025
**Carrying amount**
At 31 May 2025
At 31 May 2024
**13**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Other creditors|**Fixtures, fittings and**
**equipment**
**£**
10,181
(3,102)
7,079
9,885
96
(3,094)
6,887
192
297
**2025**
**2024**
**£**
**£**
1,004
935
**2025**
**2024**
**£**
**£**
2,549
4,238|
|---|---|
- 18 -
## **The Institution of Analysts & Programmers**
## **Notes to the financial statements (continued) For the year ended 31 May 2025**
## **15 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At**
Website fund
General funds
**Previous year:**
**At**
General funds|**1 June**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 May**
**2025**
**£**
**£**
**£**
**£**
**£**
-
15,000
-
-
15,000
72,080
32,931
(21,341)
344
84,014
72,080
47,931
(21,341)
344
99,014
**1 June**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 May**
**2024**
**£**
**£**
**£**
**£**
**£**
65,279
50,201
(44,860)
1,460
72,080|
|---|---|
## **16 Related party transactions**
- There were no disclosable related party transactions during the year (2024 none).
- 19 -