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2020-12-31-accounts

Page
Legal and Administrative Information 3-4
Trustees'
Report		 5 —13
Statement of Trustees' Responsibilities 14
Independent Auditor's Report 15—17
Consolidated Statement of Financial Activities 18
Consolidated Balance Sheet 19
Charity Balance Sheet 20
Consolidated Statement ofCash Flows 21
Notes to the Financial Statements 22-39

Individual Members Members Opening' New Lapsed or
resigned		 Progression
Out
in		 Progression
Out
in		 Closing
Honorary
Companion 26 23
Fellow 239 15 233
Chartered Member 1,176 16 66 1,130
Incorporated Member 419 38 12 395
Engineering Technician Member 649 103 112 21 654
Member Manager 126 14 16 125
Non-Corporate grades 766 121 157 0 29 701
Students 168 15 25 156
Total 3,575 273 432 46 3,423

Industrial
Affiliate Members		 Opening New Lapsed or
resigned		 Movement Closing
Small (1-5employees) 90 18 13 94
Small - Medium (6-15employees) 57 60
Medium (16-99employees) 92 92
Medium
-Large (100%99employees)		 66 66
Large (500+employees) 26 23
Total 33 335

Restricted 1,662,218
Designated 1,798,064
Fixed Assets 1,240,758
Free Reserves 900,000
5,601,060

Unrestricted Designated Restricted Total Total
Notes Funds Funds Funds 2020 2019
E E E E E
Incoming Resources
Income from Donations 6 52,382 52,382 135
Sections 2,000
52,382 52,382 2,135
Charitable
Activities		 1,584,519 12,341 433,864 2,030,724 1,960,603
Rent Receivable 24,458 24,458 84,563
Investment
Income		 48,933 791 25,515 75,239 94,440
Total Incoming
Resources		 1,710,292 13,132 459,379 2,182,803 2,141,741
Resources Expended
Raising Funds
Investment
Mgr Fees		 3,270 1,734 5,004 17,421
Trading Expenditure 12,226 12,226 23,899
15,496 1,734 17,230 41,320
Charitable
Activities		 4 1,629,045 43,512 240,211 1,912,768 2,213,118
Total Resources Expended 1644541 43512 241945 1~929~998 2c254J438
Net gains/(losses)
on
Investments 121,245 (2,758) 64,873 183,360 423,492
Net Income/(Expenditure) 186,996 33,138 282,307 436,165 310,795
Transfer between
Funds		 (209,654) 120,654 89,000
Net Movement
in Funds		 (22,658) 87,516 371,307 436,165 310,795
Total Funds Brought Forward 2,163,416 1,710,568 1,290,911 5,164,895 4,854,100
Total Funds Carried Forward 17 2,140,758 1,798,084 1,662,218 5,601,060 5,164,895

2020 2019
CASH FLOW FROM OPERATING ACTIVITIES:
Net cash provided
by operating
activities (note 20)		 64,255 (60,164)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends,
interest and rents from investments		 75,239 94,440
Purchase ofproperty,
plant and equipment		 (3,221) (9,302)
Purchase ofinvestments (10,706) (15,564)
Proceeds from sale ofinvestments 4,432 120,027
Net cash provided
by investing
activities		 65,744 189,601
Increase in cash and cash equivalents
in the year		 129,999 129,437
Cash and cash equivalents
at 1January		 638,218 508,781
Cash and cash equivalents
at 31December		 768,217 638,218
Relating to:
Cash at Bank and in hand 146,489 152,946
Short term investments 621,728 485,272

Freehold property 50years
Fixtures & Fittings 7years
Computer
equipment		 3years
(g) Foreign currencies

Unrestricted Designated Restricted Total Total
2020 2019
E E
GeneralFunds:
Membership services 743,570 743,570 747,202
and subscriptions
Technical services 705,459 431,720 1,137,179 788,466
Conferences and 292,444
marketing 65,443 100 65,543
Journal 70,047 70,047 60,202
History
Fund		 2,044 2,044 1,884
Section income 7,477 7,477 69,321
Scottish section income 4,864 4,864 1,084
1,584,519 12,341 433,864 2,030,724 1,960,603

Unrestricted Designated Restricted Total Total
2019 2018
E E E E
Bank interest received 920 134 1,054 1,494
Dividends received 48,013 791 25,381 74,185 92,946
48,933 791 25,515 75,239 94,440

Support and
Direct governance Total Total
Staff costs Other costs costs 2020 2019
E E E E E
General Funds:
Membership services 172,239 53,748 132,622 358,609 379,520
Technical services 241,185 153,260 202,825 597,270 721,120
Conferences, events and
marketing 201'929 51,535 11,690 265,154 453,944
Journal 40,467 146,749 12,494 199,710 201,690
Establishment 105,234 85,420 190,654 212,548
Facilities &conference
provision 15,227 1,087 1,334 17,648 53,108
776,281 491,799 360,965 1,629,045 2,021,930
Designated Funds:
Section expenditure 8,335 8,335 72,612
Development 35,177 35,177 (4,000)
43,512 43,512 68,612
Restricted Funds:
GIUSP 7,500 7,500 4,000
History Fund Awards 2,754 2,754 4,615
Scholarship &medals 52,684 52,684 113,961
Gas Innovation
Fund		 32,988 32,988
Hydrogen
Standards
Innovation
Fund		 144,285 144,285
240,211 240,211
776i281 775i522 360,965 1,912,768 2,213,118

Total Total
Staff costs Othercosts 2020 2019
E E E E
General Support Costs:
Central support 186,386 186,386 186,525
Legal and professional fees 1,035 1,035 1,035
Council meeting and staff expenses 20,306 20,306 42,996
Bank and credit card charges 17,469 17,469 17,139
Recruitment
expenses		 4,804 4,804 1,955
Sundry expenses 271 271 270
Staff training 1,873 1,873 10,270
Postage and telephone 25,925 25,925 23,778
Printing
and stationery		 7,993 7,993 8,962
Computer
expenses		 70,495 70,495 65,093
Subscriptions
and other costs		 4,650 4,650 5,174
Irrecoverable
VAT		 8,724 8,724 10,282
Governance
Costs:
Audit and accountancy 9,567 9,567 9,330
Council and Trustees expenses 1,467 1,467 13,774
186,386 174,579 360,965 396,583

This is stated after charging: after charging:
2020 2019
E E
Depreciation oftangible fixed assets:
Owned
by the group		 25,879 31,925
Operating
lease rentals		 4,677 6,276
Government grants (52,382)
Audit and accountancy charges:
Statutory
audit		 9,067 8,830
Accountancy and otherservices 500 500

2020 2019
No. No.
Office and management 25 25
2020 2019
E E
Staff costs:
Salaries 798,761 797,790
National insurance contributions 77,021 78,208
Pension contributions 86,885 85,046
962,667 961,044

Unrestricted Restricted Designated Total Total
funds funds funds 2020 2019
E E E E E
Gains on disposals 14 77 5,311
Net unrealised gains/(losses)
on revaluation to market value 121,182 64,859 (2,758) 183,283 418,181
121,245 64,873 (2,758) 183,360 423,492

Land and Fixtures &
Buildings Fittings and Total
Computer
Equipment
E
Cost
At 1January 2020 1,526,234 235,912 1,762,146
Additions 3t221 3,221
At 31December 2020 1,529,455 235i912 li765i367
Depreciation
At 1January 2020 265,355 233,375 498,730
Charge for the year 24,524 1,355 25,879
At 31December 2020 289,879 234,730 524,609
Net book amount
As at 31December 2020 1,239,576 1,182 1,240,758
As at 31December 2019 1,260,879 2,537 1,263,416

Total Total
Unrestricted Restricted 2020 2019
6 6 6 6
Market value at 1January 2020 2,363,645 1,238,251 3,601,896 3,300,288
Additions 10,706 10,706 15,564
Disposals (3,118) (1,237) (4,355) (114,716)
Management fees paid (17,421)
Revaluation to market value 118,424 64,859 183,283 418,181
Market value at 31December 2020 2,478,951 1,312,579 3,791,530 3,601,896
Historical cost at 31December 2020 2,193,970 1,159,868 3,353,838 3,347,487
The investments are all held in the:
Rathbones
Core		 Investment Fund for
Charities 2,464,865 1~312~579 3~777~444 3585052
M&G Investments 14,086 14,086 16,844
2,478,951 1,312,579 3,791,530 3,601,896
Institution
Total Total
Unrestricted Restricted 2020 2019
6 6 6 6
Quoted investments
(as above)		 2,478,951 1,312,579 3,791,530 3,601,896
IGEM House Ltd 1,000 1,000 1,000
Market value at 31December 2020 2,479,951 1,312,579 3,792,530 3,602,896

Group Institution
2020 2019 2020 2019
E E E E
Due within one year:
Trade debtors 565,213 289,989 564,823 276,860
Amounts
due		 from group undertakings 2,326 22,166
Prepayments and accrued income 63,739 127,106 63,739 126,416
628,952 417,095 630,888 425,442

Group Institution
2020 2019 2020 2019
E E E E
Unrestricted 94,506 96,302 91,081 83,855
Designated (Sections) 23,845 28,102 10,994 15,988
Restricted 28,138 28,542
146,489 152,946 102,075 99,843

Institution and Group
Total Total
Unrestricted Restricted 2020 2019
E E E E
Income and Capital Account 16 712 728 272
Money market account 621,000 621,000 485,000
621,016 712 621,728 485,272

Group Institution
2020 2019 2020 2019
Amounts
falling due		 within one year: E E E E
Trade creditors 177,944 71,602 177,847 71,390
Other tax and social security 78,904 71,390 79,084 69,312
Other creditors 36,193 12,141 36,193 12,141
Accruals and deferred income 535,356 600,597 534,271 599,447
828,397 755,730 827,395 752,290

Balance as at 1January 2020 318,123
Released during the year (309,820)
Deferred during the year 402,408
Balance as at31December 2020 410,711
Deferred income is made up of:
2020 2019
E E
Membership
income received		 in advance 301,242 288,569
Event income received
in advance		 27,902 8,190
Technical Income Received in Advance 72,897 17,381
History
Fund Income
received		 in advance 279 343
Journal Income
received
in advance		 8,391 3,640
410,711 318,123

Balance at Income Expenditure Investment Transfers Balance at31
1January movement December
2020 2020
E E
Unrestricted Funds
Group & Institution
General 900,000 1,710,292 (1,621,883) 121,245 (209,654) 900,000
Property & assets 1,263,416 - (22,658) 1,240,758
2,163,416 1,710,292 (1,644,541 121,245 (209,654) 2,140,758
Restricted Funds
Institution
Scholarship and Medals
Fund 673,846 13,746 (53,614) 34,459 (11,000) 657,437
Gas Innovation Fund 559,366 11,735 (33,792) 30,414 567,723
Hydrogen Standards
Innovation Fund 431,720 (144,285) 100,000 387,435
GIUSP 29,500 (7,500) 22,000
Group (including above)
Scotland Section 20,134 134 20,268
History Fund 8,065 2,044 (2,754) 7,355
1i290i911 459i379 (241i945) 64i873 89i000 li662i218
Designated Funds
Institution
Development 1,434,042 (35,177) 109,654 1,508,519
Property Maintenance
Reserve 150,000 150,000
Sections:
Northeast and Yorkshire 10,543 870 (831) 10,582
Welsh 20,247 791 (224) (2,758) 18,056
Midlands 23,167 3,600 (815) 25,952
North West 17,977 20 (2,053) 15,944
Far East 10,995 10,995
London, Southern &
Eastern 12,319 195 12,514
South West 5,433 500 (390) 5,543
Irish 4,170 4,170
Industrial Affiliates 7,153 7,153
Young Persons Network 2,410 2,487 (90) 11,000 15,807
Group (including above)
Scotland 12,112 4,864 (4,127) 12,849
1,710,568 13,132 (43,512) (2,758 120,654 1,798,084
5,164,895 2,182,803 (1,929,998) 183,360 5,601,060

Balance at Income Expenditure Investment Transfers Balance at 31
1January movement December
2019 2019
E E
Unrestricted Funds
Group & Institution
General 900,000 2,032,797 (2,034,374) 269,723 (268,146) 900,000
Property &assets 1,286,039 - (22,623) 1,263,416
2i186039 2 032797 (2056997) 269 723 (268 146) 2 163416
Restricted Funds
Institution
Scholarship and Medals
Fund 684,813 19,458 (117,536) 87,110 673,845
Gas Innovation Fund 483,282 14,089 (2,678) 64,674 559,366
GIUSP 33,500 (4,000) 29,500
Group (including above)
Scotland Section 19,996 138 20,134
History
Fund		 8,661 4,019 (4,615) 8,065
1,230,252 37,704 (128,829) 151,784 1,290,911
Designated Funds
Institution
Development 1,086,219 4,000 343,823 1,434,042
International development 75,287 (75,287)
Property Maintenance
Reserve 150,000 150,000
Sections:
Northeast and Yorkshire 9,672 12,981 (11,710) (400) 10,543
Welsh 19,963 10,371 (12,070) 1,985 20,247
Midlands 24,872 (1,706) 23,167
North West 17,601 7,719 (6,953) (390) 17,977
Far East 4,725 19,144 (12,877) 10,995
London, Southern &
Eastern 12,362 3,272 (3,315) 12,319
South West 1,427 12,469 (8,464) 5,433
Irish 4,270 (100) 4,170
Industrial Affiliates 12,233 200 (5,280) 7,153
Young Persons Network 6,135 4,000 (7,725) 2,410
Group (including above)
Scotland 13043 1084 (2,412) 400 12112
1,437,809 71,240 (68,612) 1,985 268,146 1,710,568
4,854,100 2,143,876 (2,254,438) 423,492 5,164,895

NALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted/
designated Restricted Total
funds funds 2020
E E E
Fund balances at31December 2020 are represented by:
Tangible fixed assets 1,240,758 1,240,758
Investments 2,478,951 1,312,579 3,791,530
Cash 739,367 28,850 768,217
Net current (liabilities)/assets (520,234) 320,789 (199,445)
Total net assets 3,938,842 1,662,218 5,601,060
Unrestricted/
designated Restricted Total
funds funds 2019
E E E
Fund balances at 31December 2019are represented by:
Tangible fixed assets 1,263,416 1,263,416
Investments 2,363,646 1,238,250 3,601,896
Cash 609,510 28,708 638,218
Net current (liabilities)/assets (362,588) 23,953 (338,635)
Total net assets 3,873,984 1,290,911 5,164,895

Other
2020 2019
Group and Institution E E
Within one year 4,677 6,276
Between two and five years 5,674 10,177
10,351 16,453
ECONCILIATION
OF NET INCOME/(EXPENDITURE)		 TO NET CASH FLOW FROM OPERATING ACTIVITIES
2020 2019
E E
Net income/(expenditure) for the reporting period 436,165 310,795
Adjustments
for:
Depreciation
charges		 25,879 31,925
Gain on disposal ofinvestments (77) (5,311)
Fair value gains on investments (183,283) (418,181)
Management
fees paid on investments		 17,421
Dividends,
interest and rents from investments		 (75,239) (94,440)
Increase in debtors (211,857) (54,920)
Increase in creditors 72,667 152,547
Net cash provided/(used) by operating activities 64,255 (60,164)

1January 31December
2020 Cash flows 2020
E E E
Short term investments 485,272 136,456 621,728
Cash 152,946 (6,457) 146,489
Total net assets 3,873,984 129,999 5,164,895

2020 2019
E E
Financial assets
Financial assets measured at amortised cost 1,333,430 928,207
Financial liabilities
Financial liabilities measured at amortised cost 749,493 684,340