## **Trustees’ Annual Report**
**Financial Year 2023/24 Period start date 01/04/2023 To 31/03/2024 Charity name: Association of Mountaineering Instructors Charity registration number: 1184567**
|Summary of the purposes of
the charity as set out in its
governing document|·
The advancement of education (including training)
·
The promotion of good health and wellbeing and the
saving of lives
·
The promotion of equality and diversity||
|---|---|---|
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Supporting the development of members: We have continued our charitable donation of £600 to to the Chris Walker Trust which provides AMI members with specific Avalanche Hazard Awareness workshops for WMCI's and WMCI Trainees, run In Lochaber and the Cairngorms. We have supported the Climb Out LGBT+ Climbing Festival by funding AMI Instructors to work on the event. AMI has funded Instructors to work on the inaugural Wanderers of Colour Climbing Festival – Europe’s first climbing festival by and for Black People and People of Colour AMI had an attendance at the Women in Mountain Training Conference, Womens Alpine Club Workshops and SheClimbs event AMI funded a Member to attend the Adventure for All conference We have maintained a welfare fund for members and their families when in distress We have again provided a fund for AMI members to access, so that they can further develop work which directly supports the AMI charitable aims for the General Public. To this end we have again secured match funding from the Alpkit Foundation for this work. Charitable undertakings by individual members provide important educational, healthy lifestyle and safety interventions for the end users. AMI’s support for other under-represented groups:
Supporting the development of members: We have continued our charitable donation of £600 to to the Chris Walker Trust which provides AMI members with specific Avalanche Hazard Awareness workshops for WMCI's and WMCI Trainees, run In Lochaber and the Cairngorms. We have supported the Climb Out LGBT+ Climbing Festival by funding AMI Instructors to work on the event. AMI has funded Instructors to work on the inaugural Wanderers of Colour Climbing Festival – Europe’s first climbing festival by and for Black People and People of Colour AMI had an attendance at the Women in Mountain Training Conference, Womens Alpine Club Workshops and SheClimbs event AMI funded a Member to attend the Adventure for All conference We have maintained a welfare fund for members and their families when in distress We have again provided a fund for AMI members to access, so that they can further develop work which directly supports the AMI charitable aims for the General Public. To this end we have again secured match funding from the Alpkit Foundation for this work. Charitable undertakings by individual members provide important educational, healthy lifestyle and safety interventions for the end users. AMI’s support for other under-represented groups:
AMI’s Equity and Diversity Working Group continues its work. This Group has representation on the British Mountaineering Council’s Equity Steering Committee. Mountain Training United Kingdom and Ireland also work with AMI in this arena. The British Mountaineering Council’s Womens’ ‘Ready to Rock’ courses continued, and are provided by an allfemale AMI instructional team. The AMI Charity tender fund has a focus on work with minority groups at grass roots level to encourage participation at the entry level of the activity. Individual Member charity work this year included: Womens Rock n Roots Community Group – this is a group of muslim women, women of colour and LGBTQ women. They took part in a course offering sport climbing, bouldering, top roping and abseiling The climbing hold re-setting of a community climbing wall in Devon An intro to Mountaineering weekend organised for Black Girls Hike members Work with Glasgow Queer Adventures Group to develop outdoor climbing opportunities A 3 day rock skills and navigation for Muslim Hikers
## **Additional information (optional) You may choose to include further statements where relevant about:**
|Policy on grant making|The AMI is currently not a grant making body.|
|---|---|
|Policy on social investment
including program related
investment|N/A|
|Contribution made by
volunteers|Many individual AMI volunteers donated their time
freely to many differing charitable causes during the
year.|
## **Achievements and Performance**
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|See the charitable undertakings section above.
Additionally, AMI Members have provided multiple
volunteer visits to schools, climbing clubs, and other
public groups, promoting the health and well-being
potential of the outdoors.||
|---|---|---|
## **Additional information (optional)**
## **You may choose to include further statements where relevant about:**
|Achievements against
objectives set|The Association delivered 15 out of 17 goals for the
year as outlined in the current Delivery Plan.|
|---|---|
|Performance of fundraising
activities against objectives
set|Fundraising has been targeted to gain match funding
from Alpkit Foundation for members charitable works.
This has been successful.|
|Investment performance
against objectives|Performance as expected against objectives.|
## **Financial Review**
|Review of the charity’s
financial position at the end
of the period|The Charity is financially secure in terms of operations
and has maintained it’s potential via Alpkit Foundation
relationship||
|---|---|---|
|Statement explaining the
policy for holding reserves
stating why they are held|Reserves are held to provide a financial safety net for
the Charity. There is a reserves policy to determine the
funds held.|
|---|---|
|Amount of reserves held|Reserves as of 31/3/24:
£134,141 investments as per the Reserves Policy and
with a Total Charity funds of £175,468|
|Reasons for holding zero
reserves|N/A|
|Details of fund materially in
deficit|N/A|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|No concerns|
## **Additional information (optional)**
## **You may choose to include further statements where relevant about:**
|The charity’s
principal sources of
funds (including any
fundraising)|Membership donations|
|---|---|
|Investment policy
and objectives
including any social
investment policy
adopted|The Trustees policy for investing the Reserves is as follows:
The 30% of peer to peer lending is being run down as loans
mature, and transferred to cash reserves
30% held in peer to peer lending to decrease as loans mature
70% will be invested in managed funds (by Hargreaves
Lansdown) of stocks and shares - the Trustees will decide the
investments. This percentage will rise as the peer to peer
lending diminishes.
Instant access Saffron Building Society savings account is
treated as cash for the purposes of investment.|
A description of the Lack of income funding other than membership donations principal risks facing the charity
## **Structure, Governance and Management**
|Description of charity’s
trusts:||
|---|---|
|Type of governing document|Articles of Association, from 17/6/20|
|How is the charity
constituted?|Incorporated Entity|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Trustees voted into place. Governed by Articles of
Association.|
## **Additional information (optional)**
## **You may choose to include further statements where relevant about:**
|Policies and procedures
adopted for the induction
and training of trustees|Trustees follow requirements of the Articles of
Association document, Trustee training and support
was new for 2019/20 and is reviewed each year. A
Trustee Information Pack exists.|
|---|---|
|The charity’s organisational
structure and any wider
network with which the
charity works|Trustees, Ordinary Committee.|
|Relationship with any related
parties|Working partners with Mountain Training United
Kingdom and Ireland, British Mountaineering Council,
Mountaineering Council of Scotland, Mountaineering
Ireland, Mountaineering Cymru and the Chris Walker
Memorial Trust.|
## **Reference and Administrative details**
|Charity name|Association of Mountaineering Instructors|
|---|---|
|Other name the charity uses|AMI|
|Registered charity number|1184567|
|Charity’s principal address|Siabod Cottage Capel Curig Conwy
LL24 0ES|
## **Names of the charity trustees who manage the charity**
|**Trustee name**|**Office (if any)**|**Dates acted if not**
**for whole year**|**Name of person**
**(or body) entitled**
**to appoint trustee**
**(if any)**|
|---|---|---|---|
|Robin Pugh|Trustee Chair|From 23rdApril
2022|AMI Membership|
|Nick Cannon Jones|Trustee Secretary|From 21stMarch
2021|AMI Membership|
|Karl Smith|Trustee Treasurer|From 6thJanuary
2024|AMI Membership|
|Anthony Eccles|Trustee|From 23rdApril
2022|AMI Membership|
|Anthony Halliwell|Trustee|From 6thJanuary
2024|AMI Membership|
|Steve Howe|Trustee|Stood down 6th
January 2024||
Corporate trustees – names of the directors at the date the report was approved - N/A Name of trustees holding title to property belonging to the charity - N/A
Funds held as custodian trustees on behalf of others – N/A
|Description of the assets
held in this capacity|N/A|
|---|---|
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|N/A|
|Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets|N/A|
## **Additional information (optional) Names and addresses of advisers (Optional information)**
|Shruti Soni|Shruti Soni Ltd, Charity Accountant, 117a St Johns Hill Sevenoaks,
TN13 3PE|
|---|---|
|Clive Vergnaud|Stone King LLP (Solicitors), 1 Park Row Leeds LS1 5HN|
## **Declarations**
## **The trustees declare that they have approved the Trustees Report above. Signed on behalf of the charity’s trustees**
Signature R. Pugh Full Name Rob Pugh Position AMI Trustee Chair Date 4th December 2024
Association of Mountaineering Instructors A Company Limited by Guarantee
Charity Registration No. 1184567 Company Registered in England No. 08014488
Report and Unaudited Financial Statements Year ended 31 March 2024
## Association of Mountaineering Instructors
Status: Company Limited by Guarantee No. 08014488 The Company's governing document is its Memorandum and Articles of Association dated 30 March 2012 as amended by a special resolution(s) dated 17 June 2019 and as further amended on 20 October 2020. Previous Charity with the same name and Registration No. 1145987 was amalgamated with this newly registered charity, Charity Registration No. 1184567. Registration date 24 July 2019. Registered Office: Siabod Cottage, Capel Curig, Conwy, Clwyd, Wales, LL24 0ES The Company does not have a separate principal office. Trustees: Robin Ford Pugh - Chair Nicholas Cannon-Jones - Secretary Anthony Ashley Eccles Stephen Howe - resigned 22 April 2023 Anthony Halliwell - appointed 22 April 2023 Karl Smith - Treasurer - appointed 6 January 2024 David Miles Tarquin Shipley - Treasurer - resigned 6 January 2024 Independent examiner: Shruti Soni FCCA FCIE Shruti Soni Ltd 117A St Johns Hill Sevenoaks TN13 3PE
1
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
The trustees present their report and the financial statements for the year ended 31 March 2024. This is also a Directors’ Report required by s417 of the Companies Act 2006 and all trustees are directors.
This Trustees Report and the associated Financial Statements have been prepared in accordance with guidance for preparing Charity Accounts and Reports presented in “Accounting and Reporting by Charities: Statement of Recommended Practice” and are therefore in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective 1 January 2019) – (Charities SORP FRS 102) together with The Companies Act 2006.
## Structure, Governance and Management
The Company's governing document is its Memorandum and Articles of Association dated 30 March 2012 as amended by a special resolution(s) dated 17 June 2019 and as further amended on 20 October 2020. Previous Charity with the same name and Registration No. 1145987 was amalgamated with this newly registered charity, Charity Registration No. 1184567. Registration date 24 July 2019.
## Trustee selection methods
Trustees are voted into place and appointments are Governed by Articles. Trustees remains at 5.
## Policies and procedures adopted for the induction and training of trustees
Trustees follow requirements of the Articles of Association document, Trustee training and support was new for 2019/20 and is reviewed each year. A Trustee Information Pack exists.
## Relationship with any related parties
AMI has a working partnership with Mountain Training United Kingdom and Ireland, British Mountaineering Council, Mountaineering Council of Scotland, Mountaineering Ireland, Mountaineering Cymru and the Chris Walker Memorial trust.
## Objectives
Summary of the purposes of the charity as set out in its governing document is as below
- The advancement of education (including training)
- The promotion of good health and wellbeing and the saving of lives
- The promotion of equality and diversity
## Activities
Summary of the main activities is as below
Supporting the development of members: We have continued our charitable donation of £600 to the Chris Walker Trust which provides AMI members with specific Avalanche Hazard Awareness workshops for WMCI's and WMCI Trainees, run In Lochaber and the Cairngorms.
- We have supported the Climb Out LGBT+ Climbing Festival by funding AMI Instructors to work on the event.
- AMI has funded Instructors to work on the inaugural Wanderers of Colour Climbing Festival – Europe’s first climbing festival by and for Black People and People of Colour
- AMI had an attendance at the Women in Mountain Training Conference, Womens Alpine Club Workshops and SheClimbs event
2
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
- AMI funded a Member to attend the Adventure for All conference
- We have maintained a welfare fund for members and their families when in distress
We have again provided a fund for AMI members to access, so that they can further develop work which directly supports the AMI charitable aims for the General Public. To this end we have again secured match funding from the Alpkit Foundation for this work. Charitable undertakings by individual members provide important educational, healthy lifestyle and safety interventions for the end users.
AMI’s support for other under-represented groups:
- AMI’s Equity and Diversity Working Group continues its work. This Group has representation on the British Mountaineering Council’s Equity Steering Committee. Mountain Training United Kingdom and Ireland also work with AMI in this arena.
- The British Mountaineering Council’s Womens’ ‘Ready to Rock’ courses continued, and are provided by an all-female AMI instructional team.
- The AMI Charity tender fund has a focus on work with minority groups at grass roots level to encourage participation at the entry level of the activity.
Individual Member charity work this year included:
- Womens Rock n Roots Community Group – this is a group of muslim women, women of colour and LGBTQ women. They took part in a course offering sport climbing, bouldering, top roping and abseiling
- The climbing hold re-setting of a community climbing wall in Devon
- An intro to Mountaineering weekend organised for Black Girls Hike members
- Work with Glasgow Queer Adventures Group to develop outdoor climbing opportunities
- A 3 day rock skills and navigation for Muslim Hikers
AMI has relationships as working partners with Mountain Training United Kingdom and Ireland, the British Mountaineering Council, the Mountaineering Council of Scotland, Mountaineering Ireland, Mountaineering Cymru, and the Chris Walker Memorial Trust.
3
# Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
## Achievements and Performance
In addition to the above, AMI Members have provided multiple volunteer visits to schools, climbing clubs, and other public groups, promoting the health and well-being potential of the outdoors.
The Association delivered 15 out of 17 goals for the year as outlined in the current Delivery Plan.
Fundraising has been targeted to gain match funding from Alpkit Foundation for members charitable works.
This has been successful performance as expected against objectives.
## Financial Review
The Charity is financially secure in terms of operations and has maintained it’s potential via Alpkit Foundation relationship. The total income for 2023/2024 is £112,700 (2022/23: £117,282) and the total expenses for 2023/24 is £115,364 (2022/23: £118,735). Due to expenditure on AGM costs, chair, development officer and Membership cost, the charity reports a net expenditure for the year of £2,664 (2022/23: £1,453). After net gain on investments of £20,131 (2022/23: net loss £3,095) the charity's reserves at the year end 2023/24 stood at £192,935, increased from £175,468 at the end of year 2022/23.
## Reserves Policy
The policy for maintaining Reserves for the Association is as follows: £10k – contingency for the emergency Working Groups. £30k – two year's running costs. £20k – contingency for failure to attract sponsorship. £40k – costs for two AGMs and Autumn Conferences.
The Association will therefore maintain a minimum Reserve of £100k and this Policy will be reviewed on an annual basis. The funds will be invested in accordance with the following Investment Policy. General reserves at the year end stood at £192,935 (2022/23: £175,468) of which those invested according to the investment policy of the charity and valued at market price amounted to £156,020 (2022/23: £134,141).
## Investment Policy
The Trustees policy for investing the Reserves is as follows:
30% will be held in peer to peer lending which is being run down as loans mature, and transferred to cash reserves. 70% will be invested in managed funds (by Hargreaves Lansdown) of stocks and shares. This percentage will rise as the peer to peer lending diminishes.
We have invested in a peer to peer lending scheme with a small amount of the reserve aiming to make the investment repay only enough to combat low interest rates and inflation and stabilise reserves. Instant access Saffron Building Society savings account is treated as cash for the purposes of investment.
The Trustees will either decide the investments themselves or seek professional advice as appropriate. Currently, reserves of £156,020 have been invested in a 32% - 68% split between peer to peer lending and stocks and shares respectively. The current investments largely adhere to the above percentages notwithstanding the fluctuation of the value of stock market investments on a daily basis.
4
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
## Managing risk of harm
The main risks facing the charity are lack of incoming funding other than membership donations and it being a young and inexperienced charity at this stage. However, these are considered to be minimal by the trustees. In carrying out the charity’s purpose to achieve public benefit the trustees have managed risk of detriment or harm to the charity’s beneficiaries or to the public in general. This has been achieved by identifying such risks where possible, minimising them and making sure any harm that might arise is of a minor consequence to the carrying out of such purpose.
## Public benefit statement
The Trustees confirm that they have had regard to the Charity Commission guidance on public benefit. All charitable activities are undertaken to further the charitable purposes for the public benefit. The Trustees took advice from the Charities Commission. We have retained a group of solicitors specialising in Charities to review our Governance and have implemented those changes.
## Statement of Trustees' Responsibilities
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditureof the charitable company for that period. In preparing these financial statements, the trustees are required to:
a) select suitable accounting policies and apply them consistently;
b) observe the methods and principles in the Charities SORP;
c) make judgments and accounting estimates that are reasonable and prudent;
d) state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
5
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report, which has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, was approved by the Board on _______ December 2024 and signed on its behalf.
___________________________________ Trustee
____________________________________ Name
6
## Independent Examiner’s Report to the Trustees of Association of Mountaineering Instructors Limited
I report on the financial statements of the company for the year ended 31 March 2024 as set out on pages 8 to 17.
## Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
I have completed my examination. I confirm that no material 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 accordance with section 386 of the Companies Act 2006; or
2. the accounts do not accord with such records; or
3. the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or
4. the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 accounts to be reached.
Shruti Soni FCCA FCIE Date: Shruti Soni Ltd ● Chartered Certified Accountants 117A St Johns Hill, Sevenoaks TN13 3PE
7
## Association of Mountaineering Instructors
Statement of financial activities (incorporating an income and expenditure account)
**----- Start of picture text -----**
For the year ended 31 March 2024
2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations and legacies 2 6,000 720 6,720 4,333 785 5,118
Charitable activities
Advancement of education
in mountaineering 3 98,607 - 98,607 105,152 - 105,152
Other trading activities 4 685 - 685 507 - 507
Investments 1,513 - 1,513 1,044 - 1,044
Other income 5,175 - 5,175 5,461 - 5,461
Total income 111,980 720 112,700 116,497 785 117,282
Expenditure on:
Raising funds 5 3,495 - 3,495 637 - 637
Charitable activities
Advancement of education
in mountaineering 5 111,149 720 111,869 117,313 785 118,098
Total expenditure 114,644 720 115,364 117,950 785 118,735
Net income / (expenditure)
- -
before net gains / (losses) on (2,664) (2,664) (1,453) (1,453)
Net gains / (losses) on
investments 20,131 - 20,131 (3,095) - (3,095)
Net income/(expenditure) for
- -
the year 17,467 17,467 (4,548) (4,548)
Net movement in funds 17,467 - 17,467 (4,548) - (4,548)
Reconciliation of funds:
- -
Total funds brought forward 175,468 175,468 180,016 180,016
Total funds carried forward 16 192,935 - 192,935 175,468 - 175,468
**----- End of picture text -----**
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.
8
## Association of Mountaineering Instructors
## Company no. 08014488
## Balance sheet
## As at 31 March 2024
|Note
£
Fixed assets:
9
10
Current assets:
11
747
12
24,515
38,606
63,868
Liabilities:
13
27,556
15
192,935
Total unrestricted funds
16
Total assets less current liabilities
Stock
Debtors
Unrestricted income funds:
General funds
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets / (liabilities)
Total net assets / (liabilities)
Total charity funds
Investments
Cash at bank and in hand
Tangible assets|2024
£
603
156,020
156,623
36,312
192,935
192,935
192,935
192,935|£
1,792
24,774
48,900
75,466
34,139
175,468|2023
£
-
134,141
134,141
41,327
175,468
175,468
175,468
175,468|
|---|---|---|---|
-
For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Trustees’ Responsibilities:
- 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
- The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements, which have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), were approved by the Board on _______ December 2024 and signed on its behalf by:
Trustee
Name
9
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
- 1 Accounting policies
## a) Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Association of Mountaineering Instructors is a charitable company limited by guarantee registered in England with registration number 08014488. Its registered office address is Siabod Cottage, Capel Curig, Conwy, Clwyd, Wales, LL24 0ES. The accounts are presented in GBP rounded to £1.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
- b) Public benefit entity
The charitable company meets the definition of a public benefit entity under FRS 102.
- c) Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
Key judgements that the charitable company has made which have a significant effect on the accounts include calculation of deferred income, prepayments and valuation of investments.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
- d) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
- e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
- f) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
10
## Association of Mountaineering Instructors
## Notes to the financial statements
## For the year ended 31 March 2024
## g) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
- Expenditure on charitable activities includes the costs of activties undertaken to further the purposes of the charity and their associated support costs
- Other expenditure represents those items not falling into any other heading
## h) Allocation of support costs
- Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time.
## i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
## j) Listed investments
- Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.
## k) Stocks
- Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## l) Tangible fixed assets
- Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- Computer equipment 3 years (33.33% on the cost)
## m) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
11
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
## n) Cash at bank and in hand
- Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.
## o) Creditors and provisions
- Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
- 2 Income from donations and legacies
|Sponsorships
Donations|Unrestricted
£
2,500
3,500
6,000|£
720
-
720
Restricted|2024 total
Total
£
3,220
3,500
6,720|2023
Total
£
3,285
1,833
5,118|
|---|---|---|---|---|
- 3 Income from charitable activities
|Membership Fees
4
Sale of Merchandise
Advancement of education within
mountaineering
Training & Workshops
Total income from charitable activities
Income from other trading activities|Unrestricted
£
76,988
21,619
98,607
Unrestricted
£
685
685|£
-
-
-
£
-
-
Restricted
Restricted|2024
Total
£
76,988
21,619
98,607
2024
Total
£
685
685|2023
Total
£
74,957
30,195
105,152
2023
Total
£
507
507|
|---|---|---|---|---|
12
## Association of Mountaineering Instructors
## Notes to the financial statements
For the year ended 31 March 2024
5 Analysis of expenditure 2024
|Membership & Affiliate Costs
Cost of goods sold
Magazine Costs
Trainer Fees & Workshop Cost
Donations
Committee & Trustee Expenses and AGM costs
Printing, stationery, postage & telephone
Bank charges and sundry
Chair, Development Officer, Administration
Charges
Computer and Software Cost
Accounting & Independent examination
AMI Working Group Expenses & Welfare Fund
Depreciation
Marketing & PR
Support costs allocated to charitable activities
Total expenditure 2024
Total expenditure 2023|Cost of
raising
funds
£
-
439
-
-
-
-
-
-
-
-
-
-
-
3,056
3,495
-
3,495
637|Advancement of
education in
mountaineering
£
23,118
-
4,458
3,378
6,680
-
-
-
13,217
-
-
720
-
-
51,571
60,298
111,869
118,098|Support
costs
£
-
-
-
-
-
31,547
1,945
3,854
21,186
692
1,020
-
54
-
60,298
(60,298)
-
-|2024 Total
£
23,118
439
4,458
3,378
6,680
31,547
1,945
3,854
34,403
692
1,020
720
54
3,056
115,364
-
115,364
118,735|
|---|---|---|---|---|
Of the total expenditure of £115,364 (2023: £118,735), £720 (2023: £785) was restricted and £114,644 (2023: £117,950) was unrestricted.
Analysis of expenditure 2023
|Membership & Affiliate Costs
Cost of goods sold
Magazine Costs
Trainer Fees & Workshop Cost
Donations
Committee & Trustee Expenses and AGM costs
Printing, stationery, postage & telephone
Bank charges and sundry
Chair, Development Officer, Administration
Charges
Computer and Software Cost
Accounting & Independent examination
AMI Working Group Expenses & Welfare Fund
Marketing & PR
Support costs allocated to charitable activities
Total expenditure 2023|Cost of
raising
funds
£
-
517
-
-
-
-
-
-
-
-
-
-
120
637
-
637|Advancement of
education in
mountaineering
£
22,905
-
4,080
9,971
20,100
-
-
-
34,074
-
-
785
-
91,915
26,183
118,098|Support
costs
£
-
-
-
-
-
18,881
1,343
4,419
-
820
720
-
-
26,183
(26,183)
-|2023 Total
£
22,905
517
4,080
9,971
20,100
18,881
1,343
4,419
34,074
820
720
785
120
118,735
-
118,735|
|---|---|---|---|---|
13
## Association of Mountaineering Instructors
Notes to the financial statements
For the year ended 31 March 2024
## 6 Trustee remuneration and expenses
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). Robin Ford Pugh was remunerated for services as Chair supplied to the charity of £6,000 (2023: £6,000). Of this £1,500 (2023: £1,500) was due at the end of the year. This was duly agreed by the other Trustees and Charity Commission. No other trustees were paid or received any payments for services provided to the charity.
No trustees were reimbursed any expenses incurred in relation to their duties as trustees. All trustees are also members of the Association and take part in activities of the Association. Expenses relating to associations like travel and accomodation are paid by the Charity in line with agreed policies.
## 7 Related party transactions
Aggregate donations from related parties during the year were nil (2023: £nil).
## 8 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## 9 Tangible fixed assets
|At the end of the year
At the start of the year
Net book value
Cost or valuation
Depreciation
At the end of the year
At the end of the year
Charge for the year
Additions in year|Computer
equipment
£
658
658
55
55
603
-|Total
£
658
658
55
55
603
-|
|---|---|---|
14
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
|10
Fair value at the start of the year
Additions
Disposal proceeds
Net gain / (loss) on change in fair value
Fair value at the end of the year
Historic cost at the end of the year
11
12
Investments
Cash
Stock
Listed investments
Other
Investments comprise:
Debtors
Goods for sale
Trade debtors
Prepayments and Other debtors||2024
£
134,141
1,748
-
20,131
156,020
118,619
2024
£
105,909
50,007
104
156,020
2024
£
747
747
2024
£
3,555
20,960
24,515|2023
£
136,192
1,044
-
(3,095)
134,141
115,930
2023
£
86,703
47,319
119
134,141
2023
£
1,792
1,792
2023
£
9,590
15,184
24,774|
|---|---|---|---|
15
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
- 13 Creditors: amounts falling due within one year
|Accruals and Deferred income
Trade creditors|2024
£
2,421
25,135
27,556|2023
£
4,808
29,331
34,139|
|---|---|---|
## 14 Deferred income
Deferred income comprises membership fees for next accounting year received in advance.
|Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year|2024
£
28,634
(28,634)
22,097
22,097|2023
£
27,920
(27,920)
28,634
28,634|
|---|---|---|
15 Analysis of net assets between funds
|Analysis of net assets between funds
Investments
Net current assets
Investments
Net current assets
Net assets at 31 March 2024
Net assets at 1 April 2023|General
unrestricted
£
156,020
36,312
192,935
General
unrestricted
£
134,141
41,327
175,468|£
-
-
-
£
-
-
-
Designated
Designated|Restricted
£
-
-
-
Restricted
£
-
-
-|Total funds
£
156,020
36,312
192,935
Total funds
£
134,141
41,327
175,468|
|---|---|---|---|---|
16
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
|16
Total restricted funds
General funds
Total restricted funds
General funds
Total unrestricted funds
Movements in funds
Total funds
Total funds
Restricted funds:
WMCI bursary fund
Total unrestricted funds
Restricted funds:
WMCI bursary fund|At 1 April
2023
£
-
-
175,468
175,468
175,468
At 1 April
2022
£
-
-
180,016
180,016
180,016|Incoming
resources &
gains
£
720
720
132,111
132,111
132,831
Incoming
resources &
gains
£
785
785
116,497
116,497
117,282|Outgoing
resources &
losses
£
(720)
(720)
(114,644)
(114,644)
(115,364)
Outgoing
resources &
losses
£
(785)
(785)
(121,045)
(121,045)
(121,830)|Transfers
£
-
-
-
-
-
Transfers
£
-
-
-
-
-|At 31
March
2024
£
-
-
192,935
192,935
192,935
At 1 April
2023
£
-
-
175,468
175,468
175,468|
|---|---|---|---|---|---|
## Purposes of restricted funds
WMCI bursary fund is used to cover the cost for one AMI member a year to undertake their WMCI
## 17 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
17
Association of Mountaineering Instructors A Company Limited by Guarantee
Charity Registration No. 1184567 Company Registered in England No. 08014488
Report and Unaudited Financial Statements Year ended 31 March 2024
## Association of Mountaineering Instructors
Status: Company Limited by Guarantee No. 08014488 The Company's governing document is its Memorandum and Articles of Association dated 30 March 2012 as amended by a special resolution(s) dated 17 June 2019 and as further amended on 20 October 2020. Previous Charity with the same name and Registration No. 1145987 was amalgamated with this newly registered charity, Charity Registration No. 1184567. Registration date 24 July 2019. Registered Office: Siabod Cottage, Capel Curig, Conwy, Clwyd, Wales, LL24 0ES The Company does not have a separate principal office. Trustees: Robin Ford Pugh - Chair Nicholas Cannon-Jones - Secretary Anthony Ashley Eccles Stephen Howe - resigned 22 April 2023 Anthony Halliwell - appointed 22 April 2023 Karl Smith - Treasurer - appointed 6 January 2024 David Miles Tarquin Shipley - Treasurer - resigned 6 January 2024 Independent examiner: Shruti Soni FCCA FCIE Shruti Soni Ltd 117A St Johns Hill Sevenoaks TN13 3PE
1
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
The trustees present their report and the financial statements for the year ended 31 March 2024. This is also a Directors’ Report required by s417 of the Companies Act 2006 and all trustees are directors.
This Trustees Report and the associated Financial Statements have been prepared in accordance with guidance for preparing Charity Accounts and Reports presented in “Accounting and Reporting by Charities: Statement of Recommended Practice” and are therefore in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective 1 January 2019) – (Charities SORP FRS 102) together with The Companies Act 2006.
## Structure, Governance and Management
The Company's governing document is its Memorandum and Articles of Association dated 30 March 2012 as amended by a special resolution(s) dated 17 June 2019 and as further amended on 20 October 2020. Previous Charity with the same name and Registration No. 1145987 was amalgamated with this newly registered charity, Charity Registration No. 1184567. Registration date 24 July 2019.
## Trustee selection methods
Trustees are voted into place and appointments are Governed by Articles. Trustees remains at 5.
## Policies and procedures adopted for the induction and training of trustees
Trustees follow requirements of the Articles of Association document, Trustee training and support was new for 2019/20 and is reviewed each year. A Trustee Information Pack exists.
## Relationship with any related parties
AMI has a working partnership with Mountain Training United Kingdom and Ireland, British Mountaineering Council, Mountaineering Council of Scotland, Mountaineering Ireland, Mountaineering Cymru and the Chris Walker Memorial trust.
## Objectives
Summary of the purposes of the charity as set out in its governing document is as below
- The advancement of education (including training)
- The promotion of good health and wellbeing and the saving of lives
- The promotion of equality and diversity
## Activities
Summary of the main activities is as below
Supporting the development of members: We have continued our charitable donation of £600 to the Chris Walker Trust which provides AMI members with specific Avalanche Hazard Awareness workshops for WMCI's and WMCI Trainees, run In Lochaber and the Cairngorms.
- We have supported the Climb Out LGBT+ Climbing Festival by funding AMI Instructors to work on the event.
- AMI has funded Instructors to work on the inaugural Wanderers of Colour Climbing Festival – Europe’s first climbing festival by and for Black People and People of Colour
- AMI had an attendance at the Women in Mountain Training Conference, Womens Alpine Club Workshops and SheClimbs event
2
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
- AMI funded a Member to attend the Adventure for All conference
- We have maintained a welfare fund for members and their families when in distress
We have again provided a fund for AMI members to access, so that they can further develop work which directly supports the AMI charitable aims for the General Public. To this end we have again secured match funding from the Alpkit Foundation for this work. Charitable undertakings by individual members provide important educational, healthy lifestyle and safety interventions for the end users.
AMI’s support for other under-represented groups:
- AMI’s Equity and Diversity Working Group continues its work. This Group has representation on the British Mountaineering Council’s Equity Steering Committee. Mountain Training United Kingdom and Ireland also work with AMI in this arena.
- The British Mountaineering Council’s Womens’ ‘Ready to Rock’ courses continued, and are provided by an all-female AMI instructional team.
- The AMI Charity tender fund has a focus on work with minority groups at grass roots level to encourage participation at the entry level of the activity.
Individual Member charity work this year included:
- Womens Rock n Roots Community Group – this is a group of muslim women, women of colour and LGBTQ women. They took part in a course offering sport climbing, bouldering, top roping and abseiling
- The climbing hold re-setting of a community climbing wall in Devon
- An intro to Mountaineering weekend organised for Black Girls Hike members
- Work with Glasgow Queer Adventures Group to develop outdoor climbing opportunities
- A 3 day rock skills and navigation for Muslim Hikers
AMI has relationships as working partners with Mountain Training United Kingdom and Ireland, the British Mountaineering Council, the Mountaineering Council of Scotland, Mountaineering Ireland, Mountaineering Cymru, and the Chris Walker Memorial Trust.
3
# Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
## Achievements and Performance
In addition to the above, AMI Members have provided multiple volunteer visits to schools, climbing clubs, and other public groups, promoting the health and well-being potential of the outdoors.
The Association delivered 15 out of 17 goals for the year as outlined in the current Delivery Plan.
Fundraising has been targeted to gain match funding from Alpkit Foundation for members charitable works.
This has been successful performance as expected against objectives.
## Financial Review
The Charity is financially secure in terms of operations and has maintained it’s potential via Alpkit Foundation relationship. The total income for 2023/2024 is £112,700 (2022/23: £117,282) and the total expenses for 2023/24 is £115,364 (2022/23: £118,735). Due to expenditure on AGM costs, chair, development officer and Membership cost, the charity reports a net expenditure for the year of £2,664 (2022/23: £1,453). After net gain on investments of £20,131 (2022/23: net loss £3,095) the charity's reserves at the year end 2023/24 stood at £192,935, increased from £175,468 at the end of year 2022/23.
## Reserves Policy
The policy for maintaining Reserves for the Association is as follows: £10k – contingency for the emergency Working Groups. £30k – two year's running costs. £20k – contingency for failure to attract sponsorship. £40k – costs for two AGMs and Autumn Conferences.
The Association will therefore maintain a minimum Reserve of £100k and this Policy will be reviewed on an annual basis. The funds will be invested in accordance with the following Investment Policy. General reserves at the year end stood at £192,935 (2022/23: £175,468) of which those invested according to the investment policy of the charity and valued at market price amounted to £156,020 (2022/23: £134,141).
## Investment Policy
The Trustees policy for investing the Reserves is as follows:
30% will be held in peer to peer lending which is being run down as loans mature, and transferred to cash reserves. 70% will be invested in managed funds (by Hargreaves Lansdown) of stocks and shares. This percentage will rise as the peer to peer lending diminishes.
We have invested in a peer to peer lending scheme with a small amount of the reserve aiming to make the investment repay only enough to combat low interest rates and inflation and stabilise reserves. Instant access Saffron Building Society savings account is treated as cash for the purposes of investment.
The Trustees will either decide the investments themselves or seek professional advice as appropriate. Currently, reserves of £156,020 have been invested in a 32% - 68% split between peer to peer lending and stocks and shares respectively. The current investments largely adhere to the above percentages notwithstanding the fluctuation of the value of stock market investments on a daily basis.
4
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
## Managing risk of harm
The main risks facing the charity are lack of incoming funding other than membership donations and it being a young and inexperienced charity at this stage. However, these are considered to be minimal by the trustees. In carrying out the charity’s purpose to achieve public benefit the trustees have managed risk of detriment or harm to the charity’s beneficiaries or to the public in general. This has been achieved by identifying such risks where possible, minimising them and making sure any harm that might arise is of a minor consequence to the carrying out of such purpose.
## Public benefit statement
The Trustees confirm that they have had regard to the Charity Commission guidance on public benefit. All charitable activities are undertaken to further the charitable purposes for the public benefit. The Trustees took advice from the Charities Commission. We have retained a group of solicitors specialising in Charities to review our Governance and have implemented those changes.
## Statement of Trustees' Responsibilities
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditureof the charitable company for that period. In preparing these financial statements, the trustees are required to:
a) select suitable accounting policies and apply them consistently;
b) observe the methods and principles in the Charities SORP;
c) make judgments and accounting estimates that are reasonable and prudent;
d) state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
5
## Association of Mountaineering Instructors
Trustees' Report for the year ended 31 March 2024
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report, which has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, was approved by the Board on _______ December 2024 and signed on its behalf.
___________________________________ Trustee
____________________________________ Name
6
## Independent Examiner’s Report to the Trustees of Association of Mountaineering Instructors Limited
I report on the financial statements of the company for the year ended 31 March 2024 as set out on pages 8 to 17.
## Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
I have completed my examination. I confirm that no material 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 accordance with section 386 of the Companies Act 2006; or
2. the accounts do not accord with such records; or
3. the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or
4. the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 accounts to be reached.
Shruti Soni FCCA FCIE Date: Shruti Soni Ltd ● Chartered Certified Accountants 117A St Johns Hill, Sevenoaks TN13 3PE
7
## Association of Mountaineering Instructors
Statement of financial activities (incorporating an income and expenditure account)
**----- Start of picture text -----**
For the year ended 31 March 2024
2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations and legacies 2 6,000 720 6,720 4,333 785 5,118
Charitable activities
Advancement of education
in mountaineering 3 98,607 - 98,607 105,152 - 105,152
Other trading activities 4 685 - 685 507 - 507
Investments 1,513 - 1,513 1,044 - 1,044
Other income 5,175 - 5,175 5,461 - 5,461
Total income 111,980 720 112,700 116,497 785 117,282
Expenditure on:
Raising funds 5 3,495 - 3,495 637 - 637
Charitable activities
Advancement of education
in mountaineering 5 111,149 720 111,869 117,313 785 118,098
Total expenditure 114,644 720 115,364 117,950 785 118,735
Net income / (expenditure)
- -
before net gains / (losses) on (2,664) (2,664) (1,453) (1,453)
Net gains / (losses) on
investments 20,131 - 20,131 (3,095) - (3,095)
Net income/(expenditure) for
- -
the year 17,467 17,467 (4,548) (4,548)
Net movement in funds 17,467 - 17,467 (4,548) - (4,548)
Reconciliation of funds:
- -
Total funds brought forward 175,468 175,468 180,016 180,016
Total funds carried forward 16 192,935 - 192,935 175,468 - 175,468
**----- End of picture text -----**
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.
8
## Association of Mountaineering Instructors
## Company no. 08014488
## Balance sheet
## As at 31 March 2024
|Note
£
Fixed assets:
9
10
Current assets:
11
747
12
24,515
38,606
63,868
Liabilities:
13
27,556
15
192,935
Total unrestricted funds
16
Total assets less current liabilities
Stock
Debtors
Unrestricted income funds:
General funds
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets / (liabilities)
Total net assets / (liabilities)
Total charity funds
Investments
Cash at bank and in hand
Tangible assets|2024
£
603
156,020
156,623
36,312
192,935
192,935
192,935
192,935|£
1,792
24,774
48,900
75,466
34,139
175,468|2023
£
-
134,141
134,141
41,327
175,468
175,468
175,468
175,468|
|---|---|---|---|
-
For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Trustees’ Responsibilities:
- 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
- The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements, which have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), were approved by the Board on _______ December 2024 and signed on its behalf by:
Trustee
Name
9
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
- 1 Accounting policies
## a) Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Association of Mountaineering Instructors is a charitable company limited by guarantee registered in England with registration number 08014488. Its registered office address is Siabod Cottage, Capel Curig, Conwy, Clwyd, Wales, LL24 0ES. The accounts are presented in GBP rounded to £1.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
- b) Public benefit entity
The charitable company meets the definition of a public benefit entity under FRS 102.
- c) Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
Key judgements that the charitable company has made which have a significant effect on the accounts include calculation of deferred income, prepayments and valuation of investments.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
- d) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
- e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
- f) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
10
## Association of Mountaineering Instructors
## Notes to the financial statements
## For the year ended 31 March 2024
## g) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
- Expenditure on charitable activities includes the costs of activties undertaken to further the purposes of the charity and their associated support costs
- Other expenditure represents those items not falling into any other heading
## h) Allocation of support costs
- Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time.
## i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
## j) Listed investments
- Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.
## k) Stocks
- Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## l) Tangible fixed assets
- Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- Computer equipment 3 years (33.33% on the cost)
## m) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
11
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
## n) Cash at bank and in hand
- Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.
## o) Creditors and provisions
- Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
- 2 Income from donations and legacies
|Sponsorships
Donations|Unrestricted
£
2,500
3,500
6,000|£
720
-
720
Restricted|2024 total
Total
£
3,220
3,500
6,720|2023
Total
£
3,285
1,833
5,118|
|---|---|---|---|---|
- 3 Income from charitable activities
|Membership Fees
4
Sale of Merchandise
Advancement of education within
mountaineering
Training & Workshops
Total income from charitable activities
Income from other trading activities|Unrestricted
£
76,988
21,619
98,607
Unrestricted
£
685
685|£
-
-
-
£
-
-
Restricted
Restricted|2024
Total
£
76,988
21,619
98,607
2024
Total
£
685
685|2023
Total
£
74,957
30,195
105,152
2023
Total
£
507
507|
|---|---|---|---|---|
12
## Association of Mountaineering Instructors
## Notes to the financial statements
For the year ended 31 March 2024
5 Analysis of expenditure 2024
|Membership & Affiliate Costs
Cost of goods sold
Magazine Costs
Trainer Fees & Workshop Cost
Donations
Committee & Trustee Expenses and AGM costs
Printing, stationery, postage & telephone
Bank charges and sundry
Chair, Development Officer, Administration
Charges
Computer and Software Cost
Accounting & Independent examination
AMI Working Group Expenses & Welfare Fund
Depreciation
Marketing & PR
Support costs allocated to charitable activities
Total expenditure 2024
Total expenditure 2023|Cost of
raising
funds
£
-
439
-
-
-
-
-
-
-
-
-
-
-
3,056
3,495
-
3,495
637|Advancement of
education in
mountaineering
£
23,118
-
4,458
3,378
6,680
-
-
-
13,217
-
-
720
-
-
51,571
60,298
111,869
118,098|Support
costs
£
-
-
-
-
-
31,547
1,945
3,854
21,186
692
1,020
-
54
-
60,298
(60,298)
-
-|2024 Total
£
23,118
439
4,458
3,378
6,680
31,547
1,945
3,854
34,403
692
1,020
720
54
3,056
115,364
-
115,364
118,735|
|---|---|---|---|---|
Of the total expenditure of £115,364 (2023: £118,735), £720 (2023: £785) was restricted and £114,644 (2023: £117,950) was unrestricted.
Analysis of expenditure 2023
|Membership & Affiliate Costs
Cost of goods sold
Magazine Costs
Trainer Fees & Workshop Cost
Donations
Committee & Trustee Expenses and AGM costs
Printing, stationery, postage & telephone
Bank charges and sundry
Chair, Development Officer, Administration
Charges
Computer and Software Cost
Accounting & Independent examination
AMI Working Group Expenses & Welfare Fund
Marketing & PR
Support costs allocated to charitable activities
Total expenditure 2023|Cost of
raising
funds
£
-
517
-
-
-
-
-
-
-
-
-
-
120
637
-
637|Advancement of
education in
mountaineering
£
22,905
-
4,080
9,971
20,100
-
-
-
34,074
-
-
785
-
91,915
26,183
118,098|Support
costs
£
-
-
-
-
-
18,881
1,343
4,419
-
820
720
-
-
26,183
(26,183)
-|2023 Total
£
22,905
517
4,080
9,971
20,100
18,881
1,343
4,419
34,074
820
720
785
120
118,735
-
118,735|
|---|---|---|---|---|
13
## Association of Mountaineering Instructors
Notes to the financial statements
For the year ended 31 March 2024
## 6 Trustee remuneration and expenses
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). Robin Ford Pugh was remunerated for services as Chair supplied to the charity of £6,000 (2023: £6,000). Of this £1,500 (2023: £1,500) was due at the end of the year. This was duly agreed by the other Trustees and Charity Commission. No other trustees were paid or received any payments for services provided to the charity.
No trustees were reimbursed any expenses incurred in relation to their duties as trustees. All trustees are also members of the Association and take part in activities of the Association. Expenses relating to associations like travel and accomodation are paid by the Charity in line with agreed policies.
## 7 Related party transactions
Aggregate donations from related parties during the year were nil (2023: £nil).
## 8 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## 9 Tangible fixed assets
|At the end of the year
At the start of the year
Net book value
Cost or valuation
Depreciation
At the end of the year
At the end of the year
Charge for the year
Additions in year|Computer
equipment
£
658
658
55
55
603
-|Total
£
658
658
55
55
603
-|
|---|---|---|
14
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
|10
Fair value at the start of the year
Additions
Disposal proceeds
Net gain / (loss) on change in fair value
Fair value at the end of the year
Historic cost at the end of the year
11
12
Investments
Cash
Stock
Listed investments
Other
Investments comprise:
Debtors
Goods for sale
Trade debtors
Prepayments and Other debtors||2024
£
134,141
1,748
-
20,131
156,020
118,619
2024
£
105,909
50,007
104
156,020
2024
£
747
747
2024
£
3,555
20,960
24,515|2023
£
136,192
1,044
-
(3,095)
134,141
115,930
2023
£
86,703
47,319
119
134,141
2023
£
1,792
1,792
2023
£
9,590
15,184
24,774|
|---|---|---|---|
15
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
- 13 Creditors: amounts falling due within one year
|Accruals and Deferred income
Trade creditors|2024
£
2,421
25,135
27,556|2023
£
4,808
29,331
34,139|
|---|---|---|
## 14 Deferred income
Deferred income comprises membership fees for next accounting year received in advance.
|Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year|2024
£
28,634
(28,634)
22,097
22,097|2023
£
27,920
(27,920)
28,634
28,634|
|---|---|---|
15 Analysis of net assets between funds
|Analysis of net assets between funds
Investments
Net current assets
Investments
Net current assets
Net assets at 31 March 2024
Net assets at 1 April 2023|General
unrestricted
£
156,020
36,312
192,935
General
unrestricted
£
134,141
41,327
175,468|£
-
-
-
£
-
-
-
Designated
Designated|Restricted
£
-
-
-
Restricted
£
-
-
-|Total funds
£
156,020
36,312
192,935
Total funds
£
134,141
41,327
175,468|
|---|---|---|---|---|
16
## Association of Mountaineering Instructors
Notes to the financial statements
## For the year ended 31 March 2024
|16
Total restricted funds
General funds
Total restricted funds
General funds
Total unrestricted funds
Movements in funds
Total funds
Total funds
Restricted funds:
WMCI bursary fund
Total unrestricted funds
Restricted funds:
WMCI bursary fund|At 1 April
2023
£
-
-
175,468
175,468
175,468
At 1 April
2022
£
-
-
180,016
180,016
180,016|Incoming
resources &
gains
£
720
720
132,111
132,111
132,831
Incoming
resources &
gains
£
785
785
116,497
116,497
117,282|Outgoing
resources &
losses
£
(720)
(720)
(114,644)
(114,644)
(115,364)
Outgoing
resources &
losses
£
(785)
(785)
(121,045)
(121,045)
(121,830)|Transfers
£
-
-
-
-
-
Transfers
£
-
-
-
-
-|At 31
March
2024
£
-
-
192,935
192,935
192,935
At 1 April
2023
£
-
-
175,468
175,468
175,468|
|---|---|---|---|---|---|
## Purposes of restricted funds
WMCI bursary fund is used to cover the cost for one AMI member a year to undertake their WMCI
## 17 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
17