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Company number: 481522 Charity number: 209677

The International Institute for Conservation of Historic and Artistic Works

Report and financial statements For the year ended 30 June 2021

For the year ended 30 June 2021

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor’s report ....................................................................................................... 21 Statement of financial activities (incorporating an income and expenditure account) ................... 25 Balance sheet ............................................................................................................................... 26 Statement of cash flows ................................................................................................................ 27 Notes to the financial statements ................................................................................................. 28

The International Institute for Conservation of Historic and Artistic Works

Reference and administrative information

For the year ended 30 June 2021

Company number	481522
Country of incorporation	United Kingdom
Charity number	209677
Country of registration	England & Wales
Registered office and	3 Birdcage Walk
operational address	London
	SW1H 9JJ
Council members	The council members during the year were as follows:
President:	Julian Bickersteth
Vice-Presidents:	Amber Kerr#
	Sandra Smith
	Austin Nevin
Secretary General:	Jane Henderson
Treasurer:	Juergen Vervoorst
Director of Publications:	Joyce Townsend***
Director of Communications:	Amber Kerr
Director of Membership:	David Saunders##
Ordinary Members:	Rachel Sabino***
	Thomas Learner#
	Stephen Koob#
	Alice Tsang
	Eleanora Nagy
	Helen Griffiths
	Isobel Griffin
	Satish Pandey
	Lorinda Wong
Honorary Member:	Dr Jirong Song (co-opted in 2019)
President Emeritus:	Sarah Staniforth (re-appointed in 2021)

Retired In this role at the Annual General Meeting of 19 April 2021 ## Resigned at the Annual General Meeting of 19 April 2021

Elected at the Annual General Meeting of 19 April 2021
** Re-elected for a second term at the Annual General Meeting of 19 April 2021 *** Co-opted 19 April 2021

The International Institute for Conservation of Historic and Artistic Works

Reference and administrative information

For the year ended 30 June 2021

Bankers National Westminster Bank PLC 38 Strand London WC2N 5JQ Investment Managers Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD Solicitors Slaughter and May One Bunhill Row London EC1Y 8YY Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane LONDON EC1Y 0TL

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Our Purpose

IIC is an independent international organisation supported by individual members and institutions. It serves as a forum for communication among professionals with responsibility for the preservation of cultural heritage.

“Our vision is to make IIC an inspirational, relevant, distinctive and dynamic organisation”. Sarah Staniforth CBE, IIC President Emeritus

The objectives of IIC are to advance knowledge, professional practice and standards for the preservation and conservation of historic and artistic works. By encouragement of the study of conservation practice and the nature and properties of materials used in objects of cultural heritage, or in their treatment, towards furthering the understanding and control of the causes of their deterioration and the improvement of their condition. It encourages education, study and research in the field of conservation and branches of science that further the objectives of The Institute. This is achieved through its publications, initiatives and conferences. IIC promotes professional excellence and public awareness through its awards and outreach efforts.

Our aim is to bring together conservators and heritage professionals from around the world within a shared and independent arena, educating, enabling and recognising excellence. This commitment drives everything we do.

Our Approach

The Strategic Plan 2018-2021 has evolved from previous strategic plans, most recently informed by a perceptions survey supported by branding and marketing consultants and strategic planning exercises. The objectives and activities of the Institute are developed under tangible strands covering Strategy, Membership, Communications, Publications, Professional Development, Fundraising and Governance. The priorities for 2020-21 were to extend our reach and partnership working with our Regional Groups internationally, to deliver a successful biennial Congress, grow our early career and Fellowship network, explore a new online masterclass and professional development programme incorporating mentoring activities and establish a basis for fundraising to activate supporters, enhance our resilience as an organisation and diversify our income streams.

Achievements and Performance of IIC

IIC achieves its objectives through the activities carried out during the year, which have contributed towards the advancement, education or professional development of conservators and those in related professions.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Strategic Partnerships

IIC maintains good relationships with other conservation organisations, both international and those based in the UK. We have welcomed representatives of the ICCROM Council as observers at IIC Council meetings and, similarly, IIC representatives have attended General Assembly for ICCROM as well as liaising with ICOMOS and the ICOM-CC Directory Board. IIC is an international organisation, and the Council usually aims to have one meeting annually in the country of one of the Council members or IIC events, to enable it to meet local conservators; because of the pandemic our meetings with members were all online. Our relationship with the Palace Museum, Beijing was maintained with a video presentation to IIC members at IIC’s first fully virtual AGM, followed by an AGM talk delivered by Dr Jenny Newell from the Australian Museum focusing on sustainability and reaching net zero.

Membership

At the January 2021 Council meeting it was proposed to retain the subscription and discount levels as before with discount extended to include students, in line with Fellows, Early Career and Individual members who are offered a discount if they live or work in countries that are recognised as band 2,3 or 4 countries, which are based on the categories of per capita income used by UNESCO and the International Council of Museums (ICOM). On this basis, there will be a 25% discount for band 2 countries and a 50% discount for those from band 3 or 4 nations. In addition, it has been agreed that Fellows and Individual members of IIC, who are members of IIC Regional Groups or certain affiliated national heritage conservation organisations, will continue to receive a 10% discount on IIC membership. IIC will undertake further work in support of IIC Regional Groups to offer reciprocal benefit packages to members of IIC Regional Groups, for example by extending access to key IIC initiatives and grant programmes, such as Congress and the Opportunities fund.

By making improvements to our communications and by offering good value by holding rates at an affordable level, we have finally started to reverse the historic decline in the overall number of members joining IIC, with good growth in the number of new students, early career and Fellows joining IIC for the first time. By taking the decision to pivot the Congress online, and to make it free to IIC members in 2020, ensured member retention was again high at 90% (90% in 2019/20). Whilst the overall number of members has improved (up 2%) on last year, the membership mix is very different. The decrease in individual membership income is due to a larger take up of discounts in Band 2,3 and 4 countries and conversion of individual members to Fellows, early career, and retirement categories (which benefit from lower subscription fees). However, there was a significant decrease in institutional subscription income, which was largely due to institutions being closed due to the pandemic or with department staff furloughed and key individuals becoming uncontactable during various periods of lockdown. The drop in membership income was modelled and predicted at an early stage in the financial year as part of IIC's cashflow forecasting and going concern review. By taking early decisions regarding the congress and through a combination of implementing certain operational efficiencies whilst attracting good levels of sponsorship, advertising and fundraising income, meant that IIC was not only able to off-set the membership income drop but also retained a positive cashflow position throughout the period of

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

the pandemic. IIC was also able to extend and direct its grant programmes and support activities to benefit a greater number of members internationally.

Membership Engagement and IIC Community

IIC has moved towards a more participatory membership model, to ensure our communications with members extends beyond payment prompts as well as expanding our reach with new audiences and communities of conservators internationally.

IIC also completed several major campaigns during the pandemic period, including through our major biennial Congress Edinburgh 2020 which went entirely online for the first time and resulted in significant increase in engagement with our Regional Groups through ‘live hub’ events, as well as more generally through social media compared to previous events. Our social networking platforms (Facebook, Twitter, Instagram and LinkedIn) continue to be accessed by a very large and international audience. IIC’s social media presence has grown to over 45,000 Facebook followers, nearly 10,000 on Instagram (again doubling on last year), 13,700 on Twitter and a growing LinkedIn group of members at nearly 2,000, thus enabling IIC to distribute news on its work and on important heritage conservation work very widely. Facebook statistics reveal that links, photos and shared video postings were found particularly interesting.

A great many followers are based in India, Mexico and other countries where conventional membership of IIC (or other conservation organisations) is low. National heritage plays an important role in the lives of people; in many parts of the world, the freely accessible information provided by IIC through its various channels is the only way people can learn about heritage conservation. The number of supporters in South America and India continue to be high, and with a continued growth in Spanish-speaking countries.

IIC’s Community platform and website with its linked social networking, contributes towards the interchange of ideas. The IIC Community platform has evolved to become more of a virtual learning environment and home to our Special Interest Communities covering Leadership, Sustainability, Conservation Data and Authenticity and Ethics. These groups have been shaped over time by members’ changing ideas and emerging issues relevant to the profession and field of conservation with key outcomes, from symposiums to publications, summarised as follows:

Authenticity and Ethics. Led by IIC Fellows Jonathan Ashley-Smith (focusing on ethics) and David Scott (authenticity) are exploring the current state of debate in the profession. They will also ask questions such as how we make judgements when forced to choose between preserving original material and the traditional appearance of objects. An online symposium took place on 26 - 27 November 2020, ‘Conservation and Philosophy: Intersections and Interactions’, with papers published in a special issue of Studies in Conservation planned for 2022. Further Socratic dialogues with students and early career conservators are being planned and organised by IIC Fellow, Bill Wei.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Leadership. IIC's Executive Director Sarah Stannage alongside notable figures from the profession including Debra Hess Norris from the University of Delaware, lecturer and facilitator in leadership Bob Norris, as well as IIC President Emeritus Sarah Staniforth, share insights and encourage discussions with members on leadership as well supporting members through the peer-led International Leadership Mentoring Programme
Conservation Data . Like every area of life, conservation is being transformed by the digital world and the insights of Big Data. At the same time, far too much knowledge is fragmented, inaccessible in institutions across the world. IIC Fellow and Reader in Documentation, Athanasios Velios from the University of the Arts London, led a discussion with Kristen St.John, Stanford University, on how we can use data more effectively to the benefit of conservation projects and our profession, resulting in consultation for a new policy document for 2021 with workshops hosted as part of the IIC Edinburgh Congress online. The project, Linked Conservation Data project funded by UKRI-AHRC and is delivered in partnership with other organisations including AIC and Icon.
Sustainability and Climate Action . Championed by IIC's Environmental Sustainability Associate Editor, Marina Herriges, and IIC Executive Director, Sarah Stannage, IIC has organised a series of meetings, webinars and initiatives throughout 2020 and into 2021, including IIC’s AGM talk with the Dr Jenny Newell from Museum of Australia. IIC has been chosen to exhibit in the Green Zone at COP26 in Glasgow in November 2021 and plans to run an international edit-athon event #IICEditsClimate #TogetherForOurPlanet.

Membership Training and Development

IIC’s Point of the Matter Dialogue: 'Climate Change and Covid-19: What is the heritage impact?'

The speed with which governments have responded to the COVID pandemic shows how an existential threat to humanity such as climate change could be dealt with. But in the short term what are the effects of the pandemic on heritage? The significant reduction in air pollution is helping preserve historic building fabric, the massive downturn in tourism is allowing a reassessment of sustainable visitor numbers for heritage sites, the need for couriers to travel in person rather than virtually for block-buster exhibitions is being questioned.

This Dialogue, organised in collaboration with Historic Environment Scotland, as part of IIC's 2020 Edinburgh Congress explored these crucial questions, chaired by Dr Ewan Hyslop (Historic Environment Scotland and Co-Chair Climate Heritage Network) with panellists: Lisa WestcottWilkins (DigVentures, UK), Keith Jones (National Trust, UK), Amanda Pagliarino (QAGOMA Head of Conservation & Registration, Australia). The Dialogue attracted a large online audience for live viewing with the recording attracting over 3,000 views.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

– Heritage Conservation Learning in the Times of Covid Opportunities and Challenges

During the pandemic, many heritage conservation training programmes around the world faced an abrupt shift from face-to-face to remote teaching and virtual learning. IIC was pleased to support ICCROM and Athabasca University with a webinar in September 2021 and worked closely with these key partners to encourage critical discussions on the challenges and opportunities of heritage conservation learning in the Covid-19 world.

Early Career Zoom Talks

During the IIC Edinburgh Congress, multiple participants expressed their interest in talking about PhDs in our profession. Students and emerging conservators were particularly interested in meeting face-to-face virtually in order to network with other participants and to discuss this specific topic, PhDs, in more depth.

This sparked the creation of the Emerging Conservator Zoom talks. Similar to the Student and Emerging Conservator Conferences these talks will focus on networking with other students and professionals as well as sharing thoughts and ideas with other experienced conservators.

Pursuing a PhD (10 February 2021)
Studying in an International Context (28 April 2021)

These online talks were linked to IIC’s core activities around education and training, offering opportunities for development and networking. The series has supported over 450 students and early career professionals, providing the knowledge and skills necessary to help advance their learning and professional development. The talks are now hosted as accessible online learning resources on the IIC Community platform.

International Leadership Mentoring Programme

The mentoring programme continued in 2020-21 under the guidance of IIC Council member, Rachel Sabino, with support from IIC Council Member and IIC Fellow, Tom Learner alongside sector leading professionals supporting the mentoring program for individual members who need help or advice to start or develop their careers. In light of the Covid-19 impact and responding to feedback, we refined the programme to bring together a cohort around a single theme, leadership. The programme was kindly supported by Tru Vue Inc. Given the interest in the initiative, we were able to expand the programme to support 3 cohorts per year with around 9-10 participants per cohort. We believe this is crucial to the current global crisis, which means that more than ever members of our profession need additional support in developing potential to lead. It also allows a whole group of IIC mentees through a form of learning action sets, to share their experiences with each other as they develop their skills in the same area.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Congress and Conference Events

Edinburgh Congress 2020 – online

Our major event for 2020 was our Congress, IIC’s 28th biennial congress - ‘Practices and Challenges in Built Heritage Conservation’, devised to bridge the divide between built heritage and in-situ collections. Since we first started planning in 2019, months of lockdown, uncertainty, reduced travel and social distancing have meant we have had to bridge not just disciplines, but fissures in the world as we know it. It was inevitable that our Edinburgh Congress would need to go largely online. This event has been made possible through the commitment of our members, partners, funders, and sponsors that have stayed with IIC because they know our Congresses are renowned for the quality of papers, content and discussion, providing an ideal forum for the exchange of ideas and the development of conservation during an incredibly important period of change for the profession. In addition, we have been able to make the event free for IIC members by securing grants and funding to support a high number of places for conservators to attend regardless employment circumstances or career stage.

We have learnt a lot about how our community around the world engages with digital content and can benefit from taking part in an online IIC Congress. Overall, we recorded nearly 2000 people, representing over 89 countries across 5 regions attend the online. We always work hard to reduce the barriers to attendance where possible, and this time our attendance grants supported people to overcome digital barriers rather than just travel. We averaged 150-180 people actively taking part in the live programme and shorter Q&A sessions during the week, whilst the 30 day ondemand access proved popular with a significant number of registrants (over 95%) engaging with content post conference, with a significant number of individuals (700 people) located in Band 2, 3 and 4 countries. Over 97% of survey respondents reported that the congress contributed to the advancement of conservation internationally with high impact papers, networking opportunities and learning activities.

There were a great many reasons to embrace a virtual conference. Not least was the fact that an online Congress would give many more people the opportunity to attend but also provided a climate and covid friendly option. We remain grateful to our supporters and funders in helping us transition online, their early commitment enabled creativity and a greater appetite for experimentation to flourish.

Publications

Studies in Conservation

IIC’s Studies in Conservation, the premier international peer-reviewed journal for the conservation of historic and artistic works, records and publishes the latest developments in the field. IIC’s freely downloadable digital e-Magazine, News in Conservation, publishes information on IIC activities, as well as international news on conservation projects and short articles.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Success is assessed in each of these activities in different ways. For Studies in Conservation, it is gauged by the number of submissions to the journal, the number of article downloads from the website of its publisher, Taylor and Francis Routledge, and a measured impact factor that is consistently high by comparison with other journals in its field and has maintained a top 10 ranking out of 69 for international journals. This year, despite the uncertainty around delivering a physical IIC Edinburgh Congress, IIC committed to producing the Congress preprints as an online /digital publication with an option to purchase a printed version. This represented a step change in both demand from our members and wider community in reducing negative environmental impacts associated with printed material as well as recognising the important contribution of our authors and editors to the topic of built heritage conservation through a digital publication.

According to the metrics online, the journal received 121,000 downloads in the year, an increase of 27% on last year, which is recorded by our publishing partner Taylor and Francis.

News in Conservation

The success of News in Conservation is measured by the number of downloads from the website, as well as the number of times articles are viewed on other sites and by the range of countries where these downloads have taken place, measuring the geographical spread of IIC’s message and awareness of IIC’s activities. Average readership continues to grow with subscribers is steadily growing with over 3,000 readers per issue.

Public Benefit and Impact

We believe the conservation profession gives all our lives richness and meaning by preserving the diversity of our cultural heritage and our own and others’ cultural identity for the common good. We achieve this by helping to advance knowledge and practice through our publications, initiatives, events and outreach efforts that seek to promote professional excellence and public awareness. Our awards and prizes recognise and celebrate the greatest achievements in conservation. Friendship, co-operation and a welcome generosity in sharing knowledge are at the heart of IIC's Fellowship and member network, educating, enabling and recognising excellence - this commitment drives everything we do.

Every year we are grateful to receive donations from our members to the funds we use to support those who need our help most or to reward those that have made a special contribution. Our funds make a difference, we support conservators in over 70 countries including individuals working in extremely difficult conditions, often with limited resources, where we target up to 75% of IIC’s funds to support members in UNESCO Band 2 – 4 countries.

The Trustees have given due regard to ‘PB2’ and the Charity Commission guidance on ‘PB2’ and the Charity Commission guidance on Public Benefit.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Awards, Prizes and Grants

Honorary Fellowship acknowledges the status and contribution of the highest achievers of the profession and is made to those who have made an outstanding contribution to heritage conservation is given in recognition of those who are not necessarily working in the heritage conservation field, but who use their influence, resources and talents to support the efforts of heritage preservation: they recognise the value of heritage to the future and the need to care for that heritage in a sustainable way. Candidates to receive Honorary Fellowship or the Advocate Award are put forward to Council by the Awards and Grants Committee. For 2020 , Joyce Hill Stonor was awarded an honorary Fellowship for her exceptional contributions to the field as a painting’s conservator and educator.

The Forbes Prize Lecture was set up in recognition of Edward W. Forbes, former Director of the Fogg Art Museum, Harvard University and founder of the Strauss Centre for Conservation and Technical Studies, and his services to conservation. Since 1960 the award has been made to a person who has made an outstanding contribution to the field of conservation and is given in the form of a fee for an invited Lecture given at the biennial IIC Congress by the recipient of the Award. This year the prize was awarded to Norman H. Tennent , and the lecture will be delivered at the IIC Edinburgh Congress on the topic of built heritage conservation.

The Keck Award is a cash award presented every two years at the IIC Congress to the individual or group who has in the opinion of the Council contributed most towards promoting public understanding and appreciation of the accomplishments of the conservation profession. Applications for the award are invited early in the Congress year and are assessed by the Awards and Grants Committee, who then make a recommendation to Council. The 2020 award was presented to Sport Lisboa e Benfica Cultural Heritag e for their public outreach project and guided tours from the Storage, Conservation and Restoration Department.

The Brommelle Memorial Fund is used to provide assistance for students of conservation who are IIC members and wish to attend the Institute’s international Congresses. Applications for grants, which must be supported by a letter from a student’s supervisor in the training centre, university or college, are invited early in the Congress year and assessed by IIC’s Secretary-General, the Treasurer, the head of the Congress Technical Committee and one other person. This year grants a limited number of grants were awarded for the Edinburgh Congress 2020 online, with further support committed for S&ECC 2021 and the Young Professionals Forum hosted in partnership with CCR and University of Turin in 2021.

The Opportunities Fund was established in 2010 (it was formerly known as the Professional Development Fund when it only assisted individuals), through the generosity of members’ donations to provide membership primarily to institutions who cannot easily afford the annual subscription fees; those donating to the fund are designated World Members. Institutional membership of IIC is awarded for up to two years with the possibility of renewal for a further two years, subject to funds being available. These institutional members are selected and supported by the Opportunities Fund Committee to ensure that the fund’s expenditure delivers quantifiable

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

tangible and intangible benefits for IIC, for the World Members upon whose donations the fund is based, and for its recipients. The terms and objectives of the fund were extended by IIC Council in January 2020, the changes have proved timely as the fund has the flexibility to support our members during times of crisis as well as stimulating projects that nurture resilience, adaptability and sustainability within the sector.

There is increasing awareness that alongside the global economic, social and health crisis caused by the Covid-19 pandemic, we are still facing a climate emergency. Between 2020 and 2021, over 26 grants were awarded to IIC members – ranging from students applying for learning based grants to IIC Fellows’ seeking seed funding for collaborative projects; reports detailing the impact of the funding is due to be published later in 2021.

Essay Prize for First Time Authors this prize for 2020-21 is supported by our publishing partner Taylor and Francis, where we will select a winning work from a first-time author published in our sector leading journal, Studies in Conservation. Over the past year, all major papers accepted by Studies in Conservation were considered for the prize where the lead author was being published in the journal for the first time. Papers were judged by Director of Publications Joyce Townsend, Executive Director Sarah Stannage and News in Conservation Editor Sharra Grow.

Ann Marlene Gagnon was selected from a strong field of authors for her research paper “Fabrication of an Ultrasonic Nebulizer: Rate of Flow and Performance Studies”.

Attendance and Travel Grants IIC also administers attendance grants to its biennial Congresses, which are supported by Tru Vue Inc., and also a grant given by the Getty Foundation to enable people living in under-represented countries for whom attendance at IIC biennial Congresses is too expensive or where there are digital access barriers to participating in the event online. Application is made by IIC to the Getty Foundation for the grant money in advance of the congress. The grant is intended to cover registration and support costs to encourage participation in the congress. Applications for support are made to IIC by the candidates early in the Congress year and assessed by IIC’s Secretary-General, the head of the Congress Technical Committee and at least one other person, assisted by the Executive Director. This grant is held by IIC for the 2020 Congress; the funds previously received were administered in 2020-21.

For this Congress, IIC was able to provide free access for IIC members, making up over 60% of online attendance, with member institutions, universities and partners also benefiting through free places for their students and staff teams. In the survey a significant number of members indicated that because the congress was free, they were able to justify attendance, even though the topic was not immediately relevant to their practice or specialism. Through securing funding from Getty Foundation and Tru Vue, IIC was able to provide a high number of fully funded places to nonmembers enabling over 350 people to participate and benefit from having free access to the congress site. The Getty Grant programme supported 30 individuals representing 27 countries, plus access for 10 university and institutions (including 56 staff teams and students) and a further 110 individuals through a dedicated live hub for India. Our Tru Vue funded places supported a mix of individual and university places plus institutions located in over 15 countries ranging from

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

South Africa to Mexico and the Philippines. Our Regional Group and Partner Live Hubs provided discounted places to a further 145 individuals.

Plans for the future

The changes that we face, both now and over the next few years, are going to be among the most challenging – and interesting – in our history. It is, therefore, all the more essential that we focus on our resilience as an international charity and we equip a new generation of our members to become confident about managing change, responding to new science and digital transformation, but also bringing flair, courage and imaginative thinking to the big societal issues that will affect the profession, from Covid to Climate Change. Through our programmes and initiatives, including the International Leadership Mentoring programme, we remain committed to helping our members to develop their full potential as future leaders and to contribute to the profession for the common good.

Our strategic partnerships with like-minded organisations around the world will play an increasingly important part as IIC takes a critical and leading role in helping our sector and our community change as the world changes. Together with our friends at ICCROM and ICOM CC we will find ways to draw attention to the climate crisis in our profession as part of COP26. And through our relationship with the Climate Heritage Network and wider collaborative groups of organisations involved in activating and championing change, equality, and diversity, we will put our shoulders to the grindstone with them to ensure there is a rapid, greener, more sustainable and just recovery for our sector.

One of our key priorities continues to be, growing an inclusive and diverse membership and Fellows network by taking an open and participatory approach to delivering on our objectives as a charity and learned society. In terms of future programming and initiatives – the Students and Emerging Conservator Conference 2021 in Lisbon, Portugal will be held online with a full 3-day programme of panel sessions, networking events and tours to be delivered by the student organising committee. Moving our biennial Congress to a hybrid event in 2022 will require significant planning and will present new and different challenges – as ever having a strong delivery and organising team in position early will be important to ensure 2022 builds on the success of our first major Congress online. Increasing investment in IIC’s website and digital engagement, staffing and learning platforms for 2021/22 will be important if we are to deliver our ambitious programme for next year and beyond.

Having reviewed our investment strategy IIC is in a strong position to ensure we can continue to increase our grant making ability and fund core activities in the medium to longer term – alongside our annual peer-to-peer donation initiative, this means that IIC can further extend its grant giving through the Opportunities Fund to the benefit of its members and the wider conservation community around the world. IIC’s invested funds will also follow ESG – Environmental, Social and Governance objectives.

As a self-funded organisation, we have already started to diversify our income with increased sponsorship and advertising revenue to make sure we are not reliant on one source of income.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Following our Governance Review IIC will be reshaped to make sure it is in the best position to deal with the opportunities and challenges ahead and hopefully with the support of a Fundraising Committee, we are aiming to introduce a more structured approach to fundraising with plans for a major appeal in the lead up to our 75th Anniversary in 2025.

Financial Review

The overall financial situation for 2020/21 reflects our continued commitment to investing in IIC’s long-term future. Through the appointment of an Executive Director, we have implemented strategic changes, we have expanded our membership and reach internationally. IIC has retained membership subscription rates and discounts at the same level for four years in order to support our objective to reverse the long-term decline in membership numbers and has worked hard to increase the level of engagement with IIC members. Significant work continues in improving and processing membership renewals and improving our methods for reconciling any discrepancies with our membership database and financial systems, which has proved problematic in the past. IIC has also introduced incentive campaigns and discounts for joining IIC at different points of the year and continues to offer significant discounts (up to 50%) for individuals located in UNESCO Band 2-4 countries. Therefore, despite the decline in membership income, achieving membership growth in priority regions such as South America and Africa as well as in key categories, such as Fellows, is particularly pleasing to note as IIC works towards reversing the long-term decline in membership numbers.

We have deployed our resources strategically over the past year and this is reflected in the set of figures presented in these accounts. Our activities produced a net surplus £62,949 and our net assets at the end of the year amounting to £588,012. The 2020/21 outturn represents and reflects our progress this year in securing efficiencies in our operations and managing our costs prudently across the final two quarters of the financial year. Through our previous focus on digital infrastructure, our website and communications systems during 2020/21 we have managed to transition our programming online for our members and we will continue our commitment to investing in IIC’s digital capacity as well as increasing our capability to deliver longer term member benefit and public impact.

We are also fortunate that Council members have continued to give their time and efforts so generously to IIC during the year.

Investment policy

IIC manages its assets by splitting them between cash held in interest-bearing accounts and equities-based funds with funds invested in line with the aims of IIC and in a way that does not conflict with its aims.

With the considerable fall in interest rates on cash deposits and the consistently good returns from equities the charity has adjusted its investment policy. The cash holding is being adjusted to a level that provides flexibility and sufficiently rapid response. The remainder of the assets are being

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

invested in equities and securities where long-term returns are historically far greater. Our investment managers, Brewin Dolphin, continue to provide appropriate advice and timely reporting during the pandemic. Income from the investments is reinvested within the managed portfolios to build IIC’s reserves.

This financial year has low returns from cash holdings but there has been a good increase in the market value of our investments managed through Brewin Dolphin, this year we saw an increase from £406,786 (2019-20) to £474,425. It is anticipated that movements up and down of the stock market will continue, particularly in the short term.

Reserves policy

The charity has previously held a policy of maintaining unrestricted reserves at a minimum of one year’s core expenditure, however IIC Council adopted a policy on 30 May 2020 to maintain unrestricted reserves at a minimum of six-months core expenditure at around £150,000 in order to release reserves to support operational activities and funds to support members during this time of international crisis.

Core operating expenditure is determined as expenditure that excludes one-off costs such as website redesign work, this is to ensure the charity can continue productive operations in the continued exceptional financial demand caused through the pandemic. Reserves of the charity (reserves not tied up in restricted funds, designated funds or fixed assets) amounted to £382,656 at year end and are well above the target reserve level.

Response to Risks

Council and IIC’s Executive team believe that sound risk management is integral to both good management and good governance practice. IIC has a formal risk management process through which the major risks to which the organisation may be exposed are identified. All significant risks, along with their mitigating actions, are regularly reviewed and Council are satisfied that systems are being put in place to mitigate risks to an acceptable level.

This work has identified key risks including financial resilience, whereby IIC is working towards ensuring IIC’s congresses are well managed and reducing its dependence on membership subscriptions, which has been in decline, by diversifying revenue streams through, for example, increasing sponsorship and unrestricted donations. Attention has also been paid to non-financial risks including Covid-19, cyber, data and terrorism attacks ensuring IIC has robust systems in place to support business continuity through virtual and remote working. IIC has also worked hard to ensure adequate succession planning is undertaken to enable Council has the appropriate skills and structure in place to operate effectively, including totally online Council meetings, during times of crisis.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Going Concern Assumption: Covid-19 Impact Statement

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of the financial statements. In particular, the trustees have considered the charitable company’s forecasts and projections and have taken account of pressures on investment income and grant income.

In making this assessment the trustees have considered the impact of Covid-19 and whilst membership income streams have been affected, the impacts have been mitigated and will not affect the charity’s ability to continue its charitable objects.

Annual budgets have been revised taking this into account with prudent figures for both income and expenditure, including modelling best case/worst case scenarios with a reduction in annual membership income. Having implemented short term efficiency savings and taking decisions early, including relinquishing the office lease and moving to remote working with limited storage for the archive retained for a flexible 12-month arrangement, has put IIC in a good financial position to face future challenges.

For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements.

Appointment and Induction of Trustees

Council members are elected by the membership and at each Annual General Meeting members retire from office as defined by the Institute’s Articles of Association. The Articles of Association provide for a Council whose members are the current President, Vice-Presidents (at present a maximum of three), Secretary-General, Treasurer, Director of Membership, Director of Publications and Director of Communications, together with a maximum of twelve other people plus up to three people (who may be non-Members) who may be co-opted pursuant to Article 87 of the current Articles of Association. For the purposes of company law, the Council members are deemed to be the directors of the company. Council members are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the Council and the decision-making processes and the recent performance of the Institute.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

IIC Council members have a responsibility to understand the environment in which IIC is operating and to lead the organisation in fulfilling its purposes as effectively as possible with the resources available. In October 2020, IIC Council established a Governance Review committee to consider various changes to the environment in which IIC operates and how the constitution and governance structures of IIC might be re-shaped in order best to meet the challenges and opportunities arising from those changes. IIC members were updated at the April 2021 AGM that the Governance Review is expected to conclude in late 2021 when an Extraordinary General Meeting (EGM) will be called with IIC members to consider the outcomes of the review.

Organisational Policy

There are many dimensions to the Covid-19 pandemic that have been enormous. The impact on the Institute, our staff, our volunteers, and our communities were immediate and while the lockdown occurred nine months into our financial year, its effects on our members and the economic disruption within our sector are still being felt.

Over the last two years we have invested in our digital infrastructure, which meant our ability to transition our Council meetings to virtual meetings, to working remotely and to supporting our members and community online, could be made with confidence.

Management and control of The Institute is vested in the Council, which has maintained three meetings in 2020-21 as virtual meetings. The Finance Committee comprising the Treasurer, Secretary-General and three other IIC members plus an invited external representative has the remit of reviewing IIC’s financial matters.

The Membership Committee has the responsibility of developing and monitoring membership structures and broadening its international reach and is headed by the Director of Membership, David Saunders. Additionally, the committee comprises four other members of Council, the Executive Director, Sarah Stannage, Head of Finance and Operations, Tom Asher (from April 2020 to June 2021), Membership Secretary, Tina Churcher. As an international membership organisation, IIC is reliant on attracting and retaining a broad range of members engaged in, and involved with, the conservation of cultural heritage. It is also essential that the membership reflects the profession, and its activities and concerns during this stage of change internationally, in cultures worldwide. The purpose of the committee is to develop and recommend policies and actions that: improve the attractiveness of membership; retain and engage existing members; expand the breadth of the membership base; improve the benefits of membership; and communicate the benefits of membership among and beyond the current members. The committee meets three times a year.

The Opportunities Fund Committee, a sub-committee of the Membership Committee was set up in January 2017. The terms and objectives of the fund were extended by IIC Council in January 2020, the changes have proved timely as the fund has the flexibility to support our members during times of crisis as well as stimulating projects that nurture resilience, adaptability and sustainability

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

within the sector. The sub-committee was chaired by Sandra Smith, taking over following Barbara Reeve's retirement in 2020.

The Awards & Grants Committee operated under the chairmanship of Stephen Koob and additionally comprises three other IIC Fellows and Council members. Its role is to propose and assess candidates for certain of IIC’s awards and grants, recognising and promoting excellence within the profession. We must extend our thanks and appreciation to Steve for championing and advocating international awards.

The IIC Communications Team, oversee and co-ordinate IIC’s digital and electronic communications and systems, during the year comprised, Amber Kerr Director of Communications as Chair; Sharra Grow, News in Conservation Editor; Kate Smith, Digital Engagement Editor; Kate Stonor, IIC Web Editor; Sagita Sunara, Social Networks Assistant for Linked In; Alexandra Taylor, Melissa King, Mariana Escamilla Martínez, and Olivia Stoddart as Facebook Coordinators; Isa von Lenthe and Ana Vega Ramiro, Social Networks Assistant for Instagram; Angela Cairo for Twitter; Jessica Lewinsky Community platform and Sarah Stannage, Executive Director. The Communications Team meets every six weeks.

The three temporary committees, customarily established during the preparations for the IIC’s biennial Congress, were in operation during the year: The Technical Committee under the leadership of Austin Nevin and the Congress Local Organising Committee, for Edinburgh in 2020, chaired by Isobel Griffin. The Congress Editorial Committee, chaired by Joyce Townsend, was also established in the year; all of these three Congress committees will be dissolved after the Congress once their work has been achieved.

No further sub-committees were formed this year. Terms of reference have been compiled for all committees. All members of IIC Council are annually provided with the Charity Commission’s Guidance - Public benefit: An Overview and the Essential trustee: what you need to know (CC3) along a summary of any updated guidance including IIC’s policies guiding and supporting Trustees, including the Code of Conduct, Schedule of Delegations and Conflicts of Interest policy. All new trustee and committee members are provided with an induction pack consisting of the governing documents, previous 3 years trustee’s annual reports and accounts, policies and procedures of the Charity as well as the Charity Commission’s guidance: public benefit: an overview and the essential trustee: what you need to know (CC3). Appropriate training courses are offered annually in charity law and administration, and the roles and responsibilities of trustees through our solicitor’s Slaughter and May.

IIC currently undertakes a limited amount of fundraising, where activities are focused primarily on member donations managed directly by the IIC Office. The Institute follows the guidance of the UK Fundraising Regulators’ Code of Fundraising Practice. IIC reviewed its fundraising activities in 2019/20 and updated its donation and legacy giving guidance available on the IIC website. There have been no complaints about IIC’s fundraising activities this year. IIC does not use professional fundraisers or involve commercial participators. This is expected to continue to be the case. IIC is

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

considering establishing a fundraising committee with the appointment of a Trustee with expertise in Fundraising to be co-opted to Council in 2022.

Charity Governance Code

The council is aware of the Charity Governance Code, which sets out the principles and recommended practice for good governance within the sector. The Council is satisfied that the IIC is predominantly in compliance with the principles of the code within its current governance arrangements. The Council will continue to review the governance code throughout the year as part of its commitment to good governance and to ensure ongoing compliance with the code.

Staff, contractors and volunteers

As a consequence of the pandemic the IIC Office was able to move to remote working and has shifted to delivering core activities and programmes completely online, including our major biennial Congress. Our ability to pivot was largely made possible due to the implementation of changes to IIC’s staffing structure through a formal review, to ensure IIC was better able to respond to external challenges experienced within the sector, as well as being nimble enough to respond to opportunities when they arise. The ability to adapt is a testament to the objectives for change agreed by Council and set out in the Strategic Plan adopted in 2018.

The paid staff of the Institute comprises the Executive Director, Sarah Stannage (1 FTE), Head of Finance and Operations, Tom Asher (0.6 FTE), the Membership Secretary (0.6 FTE), Tina Churcher. Following the resignation of the Head of Finance and Operations (June 2021), a staff restructure and change proposal was implemented. Following a consultation period, the Membership Secretary role was removed from the structure. In order to create a dynamic and agile operating structure with the necessary capability, skills and capacity, a financial outsource arrangement was put in place with Louise Rowe, taking on the role of Head of Finance and a new post created with Ellie Sweetnam, appointed as Fellowship and Member Engagement Manager (0.6 FTE).

Remuneration of our staff members is reviewed annually by the Finance Committee with staff salaries agreed by IIC’s Council and are independently benchmarked. IIC maintains a pension scheme in line with current legislation. A voluntary pay-cut of 15% was put forward by the Executive Director for her role in April 2020 at the start of the pandemic and was maintained throughout 2020 and into 2021.

The Editor of News in Conservation, Sharra Grow, is contracted to work for IIC on the production of the digital publication, alongside IIC’s Digital Engagement Editor, Kate Smith, providing support for IIC’s Community platform and various digital projects.

Every other person contributing time and expertise to IIC and its work – IIC Council members, IIC officers, those serving on committees and the Communications Team – is an unpaid volunteer: it should be noted that this includes the Editor-in-Chief of Studies in Conservation, Chandra Reedy, and the journal’s entire Editorial Board.

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

Throughout its history, the successes of IIC have been the result of consistent efforts of its members. Future successes will be created by current members imagining and implementing new responses to new challenges and opportunities that present. The bulk of our core activities – the ITCC, publications, congresses, website, social media etc – are supported by dedicated volunteers who rarely receive expenses for their contributions. All of us welcome offers of additional help that will increase or improve what IIC can contribute to support of the profession and by educating, enabling and recognising excellence.

Council members’ responsibilities in relation to the financial

statements

The Council members (who are also directors of the International Institute for Conservation of Historic and Artistic Works for the purposes of company law) are responsible for preparing the Council 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 Council members 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 expenditure, of the charitable company for that period. In preparing these financial statements, the Council members are required to:

Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charities Commission Statement of Recommended Practice
Make judgments and estimates that are reasonable and prudent.
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Council are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware
The Council Members have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

The International Institute for Conservation of Historic and Artistic Works

Trustees’ annual report

For the year ended 30 June 2021

The Council are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

Approved by Council and authorised for issue on 21 February 2022 and are signed on their behalf by:

Laura Jane Dargie Henderson Secretary General

Independent auditor’s report

To the members of

The International Institute for Conservation of Historic and Artistic Works

Opinion

We have audited the financial statements of The International Institute for Conservation of Historic and Artistic Works (the ‘charitable company’) for the year ended 30 June 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 30 June 2021 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The International Institute for Conservation of Historic and Artistic Works’ ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Independent auditor’s report

To the members of

The International Institute for Conservation of Historic and Artistic Works

Other Information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The trustees’ annual report, including the strategic report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
The financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of trustees’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
The directors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Independent auditor’s report

To the members of

The International Institute for Conservation of Historic and Artistic Works

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management and the Finance Committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance.
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud.
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.

Independent auditor’s report

To the members of

The International Institute for Conservation of Historic and Artistic Works

We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fleur Holden (Senior statutory auditor)

Date: 3 March 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

The International Institute for Conservation of Historic and Artistic Works

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 30 June 2021

Unrestricted £ 740 256,115 11,035	Restricted £ 58,985 223 713	2021 Total £ 59,725 256,338 11,748	Unrestricted £ 5,236 265,436 14,763	Restricted £ 7,930 8,956 1,199	2020 Total £ 13,166 274,392 15,962
267,890	59,921	327,811	285,435	18,085	303,520
3,534 252,004	504 69,484	4,038 321,488	3,701 277,469	368 9,356	4,069 286,825
255,538	69,988	325,526	281,170	9,724	290,894
55,648 12,352	5,016 (10,067)	60,664 2,285	(38,479) 4,265	(2,202) 8,361	(40,681) 12,626
68,000	(5,051)	62,949	(34,213)	6,159	(28,054)
68,000 476,550	(5,051) 48,513	62,949 525,063	(34,213) 510,763	6,159 42,354	(28,054) 553,117
544,550	43,462	588,012	476,550	48,513	525,063

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 17a to the financial statements.

The International Institute for Conservation of Historic and Artistic Works

Balance sheet

Balance sheet
As at 30 June 2021			Company	no. 00481522
Note Fixed assets: 11 12 Current assets: 13 Liabilities: 14 16a Total unrestricted funds Total charity funds The funds of the charity: Creditors: amounts falling due within one year Net current assets Net assets Restricted income funds Unrestricted income funds Investments Cash at bank and in hand Tangible assets Debtors	£ 39,580 151,171	2021 £ 428 540,338	£ 110,488 204,356	2020 £ 1,371 472,671
		540,766 47,246		474,042 51,021
	190,751 (143,505)		314,844 (263,823)
	544,550		476,550
		588,012		525,063
		43,462 544,550		48,513 476,550

		588,012		525,063

Approved by the trustees on 21 February 2022 and signed on their behalf by

Laura Jane Dargie Henderson (Secretary General) Trustee

The International Institute for Conservation of Historic and Artistic Works

Statement of cash flows

For the year ended 30 June 2021

£ £ (53,281) (53,281) 11,747 (4,038) (81,336) 73,749 (26) 96 (53,185) 204,356 - 151,171 At 1 July 2020 Cash flows £ £ 204,356 (53,185) 204,356 (53,185) 2021	£ £ (53,281) (53,281) 11,747 (4,038) (81,336) 73,749 (26) 96 (53,185) 204,356 - 151,171 At 1 July 2020 Cash flows £ £ 204,356 (53,185) 204,356 (53,185) 2021	£ £ (4,134) (4,134) 15,962 (4,069) (771) 104,673 (115,920) (347) (472) (4,606) 208,962 - 204,356 Other non- cash changes At 30 June 2021 £ £ 151,171 - 151,171 2020	£ £ (4,134) (4,134) 15,962 (4,069) (771) 104,673 (115,920) (347) (472) (4,606) 208,962 - 204,356 Other non- cash changes At 30 June 2021 £ £ 151,171 - 151,171 2020
	(53,281) 96 (53,185) 204,356 -		(4,134) (472) (4,606) 208,962 -
At 1 July 2020 £ 204,356		Other non- cash changes £
	151,171		204,356
	Cash flows £ (53,185)		At 30 June 2021 £ 151,171
204,356	(53,185)	-	151,171

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

1 Accounting policies

a) Statutory information

The International Institute for Conservation of Historic and Artistic Works is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address and principal place of business is 3 Birdcage Walk, London, SW1H 9JJ.

b) 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

Key judgements that the charity has made which have a significant effect on the accounts include. 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) Going Concern

The Council consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of the financial statements. In particular, the trustees have considered the charitable company’s forecasts and projections and have taken account of pressures on investment income and grant income. In making this assessment the trustees have considered the impact of Covid-19 and whilst membership income streams have been affected, the impacts have been mitigated and will not affect the charity’s ability to continue its charitable objects.

The charity holds adequate reserves and has liquid assets in the form of investments which are readily available to convert into cash if required. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements.out why the trustees believe this is the case or modify statement if not appropriate.

e) 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 from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) 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.

h) 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.

i) Expenditure and irrecoverable VAT

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 charity 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 delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs
Other expenditure represents those items not falling into any other heading
Where expenditure related to more than one functional category a reasonable method of allocation is determined.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Grants payable

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Fixed assets intended for ongoing use in the charity are capitalised at cost. Depreciation is provided on all tangible fixed assets at the rate calculated to write off the asset evenly over its useful life as follows:

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

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 and Office Equipment
Website

Straight line over 3 years Straight line over 3 years

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

1 Accounting policies (continued)

m) Investment properties

Investment properties are measured initially at cost and subsequently included in the balance sheet at fair value. Investment properties are not depreciated. Any change in fair value is recognised in the statement of financial activities. The valuation method used to determine fair value will be stated in the notes to the accounts.

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. 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.

Investments in subsidiaries

Investments in subsidiaries are at cost.

n) 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.

o) 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.

p) Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

q) Cash at bank and in hand

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.

r) 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.

s) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

t) Pensions

The IIC maintains a defined contribution stakeholder pensions scheme in line with current legislation.

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

For the year ended 30 June 2021
2 3 4 Congress income Donations income Grant income Income from donations and legacies Membership income Sale of publications, royalties and advertisements Income from charitable activities Income from investments Listed investment income Interest receivable Total income from charitable activities	Unrestricted £ 740 -	£ 2,486 56,500 Restricted	2021 Total £ 3,226 56,500	Unrestricted £ 3,408 1,828	£ 5,423 2,507 Restricted	2020 Total £ 8,831 4,335
	740	58,986	59,726	5,236	7,930	13,166
	Unrestricted £ 147,616 80,448 28,051	£ - 219 4 Restricted	2021 Total £ 147,616 80,667 28,055	Unrestricted £ 171,472 65,306 28,658	£ - 8,559 397 Restricted	2020 Total £ 171,472 73,865 29,055
	256,115	223	256,338	265,436	8,956	274,392
	Unrestricted £ - 11,034	£ - 713 Restricted	2021 Total £ - 11,747	Unrestricted £ 14,145 618	£ 1,171 28 Restricted	2020 Total £ 15,316 646
	11,034	713	11,747	14,763	1,199	15,962

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

5a Analysis of expenditure (current year)

Unrestricted £ 37,041 14,748 - 550 - - - 4,181 16,439 369 - 27,713 - 27,494 93,017 35 27,438 1,409 - - - 1,475 - 95	Restricted £ 11,925 - - 40 - - - 1,009 - - - 19,615 - 5,813 - - 6,532 - - - - 24,550 - -	Total funds £ 48,966 14,748 - 590 - - - 5,190 16,439 369 - 47,328 - 33,307 93,017 35 33,970 1,409 - - - 26,025 - 95
252,004	69,484	321,488
39,082	60,316	99,398
3,534	504	4,038
3,534	504	4,038

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

5b Analysis of expenditure (prior year)

Unrestricted £ 24,946 14,586 1,400 30,833 - - 6,031 - 1,849 - 19,178 436 2,064 30,345 1,980 19,250 97,267 9,181 654 7,390 365 1,720 (51)	Restricted £ - - - - - - 397 - - - - - - - - - 5,349 2,507 - - - 1,103 -	Total funds £ 24,946 14,586 1,400 30,833 - - 6,428 - 1,849 - 19,178 436 2,064 30,345 1,980 19,250 102,616 11,688 654 7,390 365 2,823 (51)
269,424 8,045	9,356 -	278,780 8,045
277,469	9,356	286,825
3,701	368	4,069
3,701	368	4,069

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

6 Net (expenditure) / income for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
	2021	2020
	£	£
Depreciation	943	1,849
Operating lease rentals payable:
Property	19,250	19,250
Auditor's remuneration (excluding VAT):
Audit	6,700	7,390
Other services	3,780	-

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages Redundancy and termination costs Social security costs Employer’s contribution to defined contribution pension schemes	2021 £ 87,108 - 4,159 1,750	2020 £ 91,887 - 7,860 2,869
	93,017	102,616

No employee earned more than £60,000 during the year (2020: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £78,125. (2020: £90,921).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £100 (2020: £579) incurred by 1 (2020: 1) members relating to attendance at meetings of the trustees.

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 3 (2020: 3).

9 Related party transactions

There are no related party transactions to disclose for this financial year (2020: none).

Aggregate donations from related parties were £420 (2020: £355).

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

11 Tangible fixed assets

Tangible fixed assets
All of the above assets are used for charitable purposes. Fair value at the start of the year Additions at cost Net gain / (loss) on change in fair value At the end of the year Cost At the start of the year At the end of the year At the start of the year Charge for the year At the start of the year Additions in year Common deposit and investment funds Balance at 1 July Cash (including Deposit Funds) At the end of the year Net book value UK Investments Investments comprise: Depreciation Disposal proceeds Fair value at the end of the year Listed investments Overseas Investments Net movement in year Balance at 30 June Total at 30 June	Office equipment £ 8,917 -	Total £ 8,917 -
	8,917	8,917
	7,546 943	7,546 943
	8,489	8,489
	428	428
	1,371	1,371
	2021 £ 406,784 81,336 (74,333) 60,638	2020 £ 436,218 115,920 (104,673) (40,681)
	474,425	406,784
	474,425	406,784
	2021 £ 65,887 26	2020 £ 65,539 348
	65,913	65,887
	540,338	472,671
	2021 £ 193,235 265,117 81,986	2020 £ 197,415 201,210 74,046
	540,338	472,671

12 Listed investments

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

13 Debtors

Debtors
Trade debtors Other debtors Prepayments and accrued income Taxation and social security Creditors: amounts falling due within one year Trade creditors Membersip income in advance Accruals Deferred income (note 15)	2021 £ 4,364 20,336 14,880	2020 £ 84,384 9,975 16,129
	39,580	110,488
	2021 £ 74,426 20,633 32,388 14,533 1,525	2020 £ 34,093 20,486 123,780 11,453 74,011
	143,505	263,823

14 Creditors: amounts falling due within one year

15 Deferred income Deferred income comprises:

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	2021 £ 74,011 (74,011) 1,525	2020 £ 56,500 74,011 (56,500)
	1,525	74,011

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

16a Analysis of net assets between funds (current year)

Unrestricted £ 428 498,920 45,202	Restricted £ - 41,418 2,044	Total funds £ 428 540,338 47,246
544,550	43,462	588,012
Unrestricted £ 1,371 435,608 39,571	Restricted £ - 37,083 11,430	Total funds £ 1,371 472,671 51,001
476,550	48,513	525,063

16b Analysis of net assets between funds (prior year)

17a Movements in funds (current year)

Movements in funds (current year)
Total restricted funds Total designated funds General funds Getty Foundation Keck Award Fund Opportunities Fund Tru Vue Bursary Fund True Vue Inc Mentoring Programme Brommelle Memorial fund Congress fund Unrestricted funds: Designated funds: Restricted funds: Total funds Total unrestricted funds	At 1 July 2020 £ 19 37,063 6,943 1,278 3,210	Income & gains £ 55,901 5,973 3,063 - -	Expenditure & losses £ (55,829) (3,019) (6,652) (1,278) (3,210)	Transfers between funds £ - - - - -	At 30 June 2021 £ 91 40,017 3,354 - -
	48,513	64,937	(69,988)	-	43,462
	80,000 73,601	- 10,377	- (712)	- -	80,000 83,267
	153,601	10,377	(712)	-	163,267
	322,949	313,160	(254,826)	-	381,284
	476,550	323,537	(255,539)	-	544,550
	525,063	388,474	(325,526)	-	588,012

The narrative to explain the purpose of each fund is given at the foot of the note below.

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

17b Movements in funds (prior year)

Movements in funds (prior year)
Total restricted funds Total designated funds General funds True Vue Inc - Congress preparation Tru Vue Bursary Fund True Vue Inc Mentoring Programme Prince Claus Fund Student conference Restricted funds: Keck Award Fund Total unrestricted funds Getty Foundation Unrestricted funds: Designated funds: Congress fund Brommelle Memorial fund Opportunities Fund Total funds	At 1 July 2019 £ - 38,162 5,589 - (1,397) - - -	Income & gains £ 19 1,471 2,457 5,349 2,675 3,210 2,507 397	Expenditure & losses £ - (2,570) (1,103) (5,349) - - (2,507) (397)	Transfers between funds £ - - - - - - - -	At 30 June 2020 £ 19 37,063 6,943 - 1,278 3,210 - -
	42,354	18,085	(11,926)	-	48,513
	80,000 78,461	- 2,951	- (7,811)	- -	80,000 73,601
	158,461	2,951	(7,811)	-	153,601
	352,302	282,485	(311,838)	-	322,949
	510,763	285,436	(319,649)	-	476,550
	553,117	303,521	(331,575)	-	525,063

Purposes of restricted funds

Getty Foundation

Grant from The Getty Foundation to support selected participants to attend Edinburgh Congress 2020. It was previously known as 'Getty Fund'.

Keck Award Fund

Created in 1993 by Sheldon & Caroline Keck to provide a cash award which is presented at the biennial congress to the individual or group who has, in the opinion of the Council, contributed most towards promoting public understanding and appreciation of the accomplishments of the conservation profession.

Opportunities Fund

Created in 2003 as the Member Sponsorship Fund and renamed in 2005 as the Professional Development Fund and then in 2010 was reformed into the Opportunities Fund. This fund is used to contribute towards membership fees of members from developing countries. In 2020 the objectives of the fund were expanded, it was agreed the fund would also support individuals and institutions with access to professional development and training opportunities alongside providing seed funding and grants to support members during times of crisis.

Tru Vue Bursary Fund

This fund is used to support selected participants attend IIC events including IIC’s biennial Congress. It was previously known as 'Tru Vue Fund'.

Mentoring Programme

Funding specifically for the continuation of IIC's Mentoring Programme established at the Turin Congress in 2018.

Prince Claus Fund

Funds relating to a one-off cultural exchange programme.

Student Conference

Funds specifically for student conference activities established from 2017 Bern Student Conference surplus to be used to support the Cologne Student Conference in 2019.

The International Institute for Conservation of Historic and Artistic Works

Notes to the financial statements

For the year ended 30 June 2021

Purposes of designated funds

Congress Fund

This is a designated fund to support the cash flow of our biennial congresses.

Brommelle Memorial Fund

Established in 1990 in memory of Norman Brommelle, Secretary General of IIC between 1958 and 1988. The fund is designated by Council for providing financial assistance to students of conservation who wish to attend IIC supported events, including biennial congresses.

18 Reconciliation of net (expenditure) / income to net cash flow generated from / (used in) Operating Activities

	2021	2020
	£	£
Net (Expenditure)/Income for the reporting period (as per the statement of
financial activities)	62,949	(28,054)
Adjustments for:
Depreciation charges	943	1,849
Revaluation of investments	(60,054)	40,681
Investment income	(11,747)	(15,962)
Investment management fees	4,038	4,069
(Increase) / decrease in debtors	70,908	(54,360)
Increase / (decrease) in creditors	(120,318)	47,643
Net cash used in operating activities	(53,281)	(4,134)

19 Operating lease commitments payable as a lessee

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

of the following periods
Less than one year One to five years Over five years	2021 2020 £ £ 3,658 19,235 8,159 3,206 - - 11,817 22,441 Property
	11,817	22,441

20 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.

2021-06-30-accounts

The International Institute for Conservation of Historic and Artistic Works

Contents

Reference and administrative information

Retired In this role at the Annual General Meeting of 19 April 2021 ## Resigned at the Annual General Meeting of 19 April 2021

Reference and administrative information

Trustees’ annual report

Our Purpose

Our Approach

Achievements and Performance of IIC

Trustees’ annual report

Strategic Partnerships

Membership

Trustees’ annual report

Membership Engagement and IIC Community

Trustees’ annual report

Membership Training and Development

Trustees’ annual report

– Heritage Conservation Learning in the Times of Covid Opportunities and Challenges

Early Career Zoom Talks

International Leadership Mentoring Programme

Trustees’ annual report

For the year ended 30 June 2021

Congress and Conference Events

Edinburgh Congress 2020 – online

Publications

Studies in Conservation

Trustees’ annual report

For the year ended 30 June 2021

News in Conservation

Public Benefit and Impact

Trustees’ annual report

Awards, Prizes and Grants

Trustees’ annual report

For the year ended 30 June 2021

Trustees’ annual report

Plans for the future

Trustees’ annual report

For the year ended 30 June 2021

Financial Review

Investment policy

Trustees’ annual report

Reserves policy

Response to Risks

Trustees’ annual report

Going Concern Assumption: Covid-19 Impact Statement

Appointment and Induction of Trustees

Trustees’ annual report

For the year ended 30 June 2021

Organisational Policy

Trustees’ annual report

Trustees’ annual report

Charity Governance Code

Staff, contractors and volunteers

Trustees’ annual report

Council members’ responsibilities in relation to the financial

statements

Trustees’ annual report

The International Institute for Conservation of Historic and Artistic Works

Opinion

In our opinion, the financial statements:

Basis for opinion

Conclusions relating to going concern

The International Institute for Conservation of Historic and Artistic Works

Other Information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial statements

Capability of the audit in detecting irregularities

To the members of

The International Institute for Conservation of Historic and Artistic Works

Use of our report

Date: 3 March 2022

The International Institute for Conservation of Historic and Artistic Works

Balance sheet

Statement of cash flows

For the year ended 30 June 2021

Notes to the financial statements

For the year ended 30 June 2021