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||||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|
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|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|
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|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|
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|Restricted|1,662,218|
|---|---|
|Designated|1,798,064|
|Fixed Assets|1,240,758|
|Free Reserves|900,000|
||5,601,060|
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|||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|
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||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|
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||Freehold property|50years|
|---|---|---|
||Fixtures & Fittings|7years|
||Computer
equipment|3years|
|(g)|Foreign currencies||
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|||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|
##
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|||||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|
##
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||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|
##
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|||||||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|
##
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##
|||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|
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||||||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|
##
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||||||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|
##
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##
|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)|
##
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|||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|
##
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||||||||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|
##