2020-09-30-accounts - The Charitable And Educational Trust Of The Company Of Scientific Instrument Makers

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

THE CHARITABLE AND EDUCATIONAL TRUST OF THE WORSHIPFUL COMPANY OF SCIENTIFIC INSTRUMENT MAKERS Report of the trustees for the year ended 30 September 2020

REVIEW OF THE YEAR AND FINANCIAL REVIEW

This financial year has been seriously affected by the COVID-19 outbreak, not just in terms of event cancellation and subsequent decrease in activities. The year also saw the move from Sage accounting package to QuickBooks Online to ease remote working and the recruitment of new accounts support. The transition also prompted a review of accounting procedures and categorisation and a contracting out of payroll. Hence figures for this year look a little different to previous years.

Resources retained for future use show an increase of £17413. The net incoming resources for the year (before revaluations and investment asset disposals) were £11186. £43,379 (2019 – £43,379) has been distributed by way of awards as detailed below.

Reserves policy

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity, at a level that will provide sufficient funds, by way of investment income, to cover management and administration costs as well as provide for bursaries and awards for proceeding 12 months. It is the intention of the Charity to balance incoming and outgoing resources in an accounting period so that they are equal. Unrestricted funds were maintained at a level to satisfy the requirements of the Charity’s reserves policy during the year.

Public Benefit

The charity has complied with its duties in section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Risk Management

The Trustees are aware of the major strategic, business and operational risks that the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate the charity's exposure to these risks.

The COVID-19 outbreak that occurred during the year has caused global economic disruption across all industries and sectors. This has caused a significant drop in income from investments. This impacted on the amount we were able to distribute. For the year 20/21 we are seeing an improvement in income which should enable us to increase our distribution. However at the time of approving these accounts it is not clear how the global economy will develop during 2020 – 2022.

Disclosure of information to examiners

To the knowledge and belief of the Trustees, there is no relevant information that the charity's examiners are not aware of, and the Trustees have taken all the steps necessary to ensure that they are aware of any relevant information, and to establish that the charity's auditors are aware of the information.

Trustee’s responsibilities in relation to the financial statements

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent;
state whether applicable 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 charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulation 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on and signed on their behalf by:

Trustee

Grants payable

Grants payable
	2019	2018
	£	£
Scholarships	33,481	42,246
Beloe fellowship -	5,000
Dining scholars	2,784	1,043
Assistance to Liverymen	1,098	1,000
Widows and funerals	1,296	1,635
Service awards and dinners	2,378	4,698
General and church grants	2,342	8,088
	43,379	63,710

Last updated MH 20/5/21

The Accounts have been eternally verified by Buzzacotts, 130 Wood St, London EC2V 6DL.

	Charity No (if any) 221332 Period start date 01/10/2019 To Period end date 30/09/2020 The Charitable & Educational Trust of the Worshipful Company of Scientific Instrument Makers Annual accounts for the period	Charity No (if any) 221332 Period start date 01/10/2019 To Period end date 30/09/2020 The Charitable & Educational Trust of the Worshipful Company of Scientific Instrument Makers Annual accounts for the period
Section A	Statement of financial activities
Recommended categories by activity Guidance Notes Incoming resources (Note 3) Income and endowments from: Donations and legacies S01 Charitable activities S02 Other trading activities S03 Investments S04 Separate material item of income S05 Other S06 S07 Resources expended (Note 6) Expenditure on: Raising funds S08 Charitable activities S09 Separate material item of expense S10 Other S11 Staff costs S12 S13 Net gains/(losses) on investments S14 S15 Extraordinary items S16 S17 S18 Other gains/(losses) S19 S20 *Reconciliation of funds:* S21 S22 1 *Total* *Net movement in funds* Total funds brought forward *Total funds carried forward* *Total* Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use		Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 77,524 - - 77,524 14,340 9,699 - - 9,699 440 - - - - - 2,750 - 2,750 107,102 - - - - - - - - - -
		89,972 - - 89,972 121,882
		- - - 15,685 - - 15,685 18,015 - - - - - 30,165 - - 30,165 74,012 55,308 - - 55,308 -
		101,159 - - 101,159 92,027

		11,186 - - - 11,186 - 29,855
		- - - - -
		11,186 - - - 11,186 - 29,855
		- - - - - - - - - - - - - - - - - - - 84,017
		11,186 - - - 11,186 - 113,872
		- - - - 113,872 -
		11,186 - - - 11,186 - -

Section B Balance sheet

Unrestricted funds £ F01 - - - 3,145,650	Restricted income funds £ F02 - - - -	Endowment funds Total this year £ £ F03 F04 - - - - - - - 3,145,650	Total last year £ F05
			- - - 3,117,051
3,145,650	-	- 3,145,650	3,117,051
- 9,309 147,317 9,293 58,855	- - - -	- - - 9,309 - 147,317 9,293 - 58,855	- 9,322 147,317 2,511 - 78,560
224,774	-	- 224,774	232,688
			16,859
20,132	-	- 20,132

204,642	-	- 204,642	215,829

3,350,293	-	-3,350,293	3,332,880
			- -
- -	- -	- - - -

3,350,293	-	- 3,350,293	3,332,880
- 3,249,268 28,599	72,426	- 72,426 - 3,249,268 28,599
			- 72,426 3,260,454
3,277,867	72,426	- 3,350,293	3,332,880
Signature		Print Name	Date of approval dd/mm/yyyy

CC17a (Excel)

08/03/2021

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities
• and with*  preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
• and with*  the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)

• and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.*

-Tick as appropriate

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern. Disclosure of any uncertainties that make the going concern assumption doubtful; An explanation as to those factors that support the conclusion that the charity is a going concern;	*Not Applicable* *Not Applicable* *Not Applicable*

1.3 Change of accounting policy

----- Start of picture text -----
The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }.
Yes 
-Tick as appropriate
No 
Please disclose:
(i) the nature of the change in accounting policy; Not Applicable
(ii) the reasons why applying the new accounting policy
provides more reliable and more relevant information; Not Applicable
and
(iii) the amount of the adjustment for each line affected
in the current period, each prior period presented and
the aggregate amount of the adjustment relating to
periods before those presented, 3.44 FRS 102 SORP. Not Applicable
----- End of picture text -----*

1.4 Changes to accounting estimates

----- Start of picture text -----
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
Yes 
No  * -Tick as appropriate
Please disclose:
(i) the nature of any changes; Not Applicable
(ii) the effect of the change on income and expense or
assets and liabilities for the current period; and Not Applicable
(iii) where practicable, the effect of the change in one or
more future periods.
Not Applicable
----- End of picture text -----

1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

Yes No *Please disclose* *(i) the nature of* *(ii) for each pri* *amount of the c* *affected; and* *(iii) the amount* *earliest prior pe*	 	* -Tick as appropriate
	: *the prior* *or period* *orrection* *of the co* *riod pres*	Not Applicable Not Applicable Not Applicable *period error;* *presented in the accounts, the* *for each account line item* *rrection at the beginning of the* *ented in the accounts.*

CC17a (Excel)

08/03/2021

Section C Notes to the accounts

Note 2 Accounting policies

Please complete this note when first reporting under FRS2102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable.

2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE

----- Start of picture text -----
Please provide a description
of the nature of each change
in accounting policy
Reconcilation of funds per previous GAAP to funds determined under FRS 102
Start of End of
period period
£ £
Fund balances as previously
stated
Adjustments:
Fund balance as restated
Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
End of
£
Net income/(expenditure) as previously
stated
Adjustments:
Previous period net income/(expenditure) as
restated
----- End of picture text -----

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 2 Accounting policies 2.2 INCOME

This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below.

Recognition of income
Income from interest,
royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
Income from membership
subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
Donated services and facilities that are consumed immediately are recognised as income
with an equivalent amount recognised as an expense under the appropriate heading in
the SOFA.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
Donated services and
facilities
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
Grants and donations are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP).
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
Government grants
The charity has received government grants in the reporting period
Tax reclaims on
donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor.
Any Gift Aid amount recovered on a donation is considered to be part of that gift and is
treated as an addition to the same fund as the initial donation unless the donor or the
terms of the appeal have specified otherwise.
These are included in the Statement of Financial Activities (SoFA) when:
 the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and
 the monetary value can be measured with sufficient reliability.
Donated goods
Contractual income and
performance related
grants
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or
permitted by the FRS 102 SORP or FRS 102.
Grants and donations
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Support costs
The charity has incurred expenditure on support costs.
Volunteer help
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.

Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a



Yes
No
N/a




2.4 ASSETS
Intangible fixed assets
Heritage assets
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at
settlement amount after any trade discounts or amount advanced by the charity. Subsequently,
they are measured at the cash or other consideration expected to be received.
Stocks and work in
progress
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net
realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value
based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
Grants with performance
conditions
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
Grants payable without
performance conditions
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
Governance and support
costs
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
They are valued at cost.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year
end. The same treatment is applied to unlisted investments unless fair value cannot be
measured reliably in which case it is measured at cost less impairment.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 9.5
They are valued at cost.
The charity has heritage assets, that is, non-monetary assets with historic, artistic,
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 9.6.1.4.
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
2.3 EXPENDITURE AND LIABILITIES
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of the
obligation can be measured with reasonable certainty.
Investment gains and
losses
The charity accounts for basic financial instruments on initial recognition as per
paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
Tangible fixed assets for
use by charity
The depreciation rates and methods used are disclosed in note 9.2.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
Basic financial
instruments
The charity made no redundancy payments during the reporting period.
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade
discounts
Settlement of insurance
claims
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
They are valued at cost.
These are capitalised if they can be used for more than one year, and cost at least
Redundancy cost

----- Start of picture text -----
The charity has has investments which it holds for resale or pending their sale and cash and cash Yes No N/a
equivalents with a maturity date less than one year. These include cash on deposit and cash
Current asset investments
equivalents with a maturity date of less than one year held for investment purposes rather than to   
meet short term cash commitments as they fall due.
Yes No N/a
They are valued at fair value except where they qualify as basic financial instruments.   
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM
THOSE ABOVE
----- End of picture text -----

Section C Notes to the accounts (cont)

Note 3 Analysis of income

----- Start of picture text -----
Restricted
Unrestricted income Endowment
funds funds funds Total funds Prior year
Analysis £ £
Donations Donations and gifts 77,524 - - 77,524 14,340
and legacies: Gift Aid - - - - -
Legacies - - - - -
General grants provided by government/other
charities - - - - -
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services - - - - -
Other - - - -
Total 77,524 - - 77,524 14,340
Charitable Other donations and bequests
activities: 2,452 - - 2,452 440
Event income 7,247 - - 7,247 -
- - - - -
Other - - - - -
Total 9,699 - - 9,699 440
Other trading
activities: - - - - -
- - - - -
- - - - -
Other - - - - -
Total - - - - -
Income from Interest income - - - - 1,356
investments: Dividend income 2,750 - - 2,750 105,746
Rental and leasing income - - - - -
Other - - - - -
Total 2,750 - - 2,750 107,102
Separate - - - - -
material item - - - - -
of income: - - - - -
- - - - -
Total - - - - -
Other: Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
for charity's own use - - - - -
Gain on disposal of a programme related
investment - - - - -
Royalties from the exploitation of intellectual
property rights - - - - -
Interest received 2 - - 2 -
Other - - - - -
Total 2 - - 2 -
TOTAL INCOME 89,974 - - 89,974 121,882
Other information:
All income in the prior year was unrestricted except for:
(please provide description and amounts)
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Where any endowment fund is converted into income in the
prior period, please give the reason for the conversion.
----- End of picture text -----

Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

----- Start of picture text -----
This year Last year
Restricted
Unrestricted Restricted Endowment Unrestricted income Endowment
Analysis funds income funds funds Total funds funds funds funds Total funds
Expenditure on raising funds: £ £
Incurred seeking donations - - - - - - - -
Incurred seeking legacies
- - - - - - - -
Incurred seeking grants
- - - - -
Operating membership schemes and
social lotteries
- - - - -
Staging fundraising events
- - - - -
Fudraising agents
- - - - -
Operating charity shops
- - - - -
Operating a trading company
undertaking non-charitable trading
activity - - - - -
Advertising, marketing, direct mail and
publicity - - - - - - - -
Start up costs incurred in generating
new source of future income
- - - - - - - -
Database development costs - - - - - - - -
Other trading activities - - - - -
Investment management costs: - - - - 18,015 18,015
Portfolio management costs - - - - - - - -
Cost of obtaining investment advice
- - - - - - - -
Investment administration costs
- - - - - - - -
Intellectual property licencing costs
- - - - - - - -
Rent collection, property repairs and
maintenance charges - - - - - - - -
Event expenses
15,685 - - 15,685 - - - -
Total expenditure on raising funds 15,685 - - 15,685 18,015 - - 18,015
Expenditure on charitable activities:
Cost of Sales - - - - - - - -
Stock Adjustments - - - - - - - -
Other Direct costs
- - - - - - - -
- - - - - - - -
Total expenditure on charitable
activities - - - - - - - -
Separate material item of expense
- - - - - - - -
- - - - - - - -
- - - - - - - -
Total - - - - - - - -
Other
Fees - - - - 13,298 - - 13,298
Telephone 124 - - 124 - - - -
PPS 2,144 - - 2,144 - - - -
Office Costs 4,359 - - 4,359 4,174 - - 4,174
General and church grants 6,586 - - 6,586 2,342 - - 2,342
Scholarships - - - - 33,481 - - 33,481
Dining scholars - - - - 2,784 - - 2,784
Assistance to Liverymen - - - - 1,098 - - 1,098
Widows and funerals - - - - 1,296 - - 1,296
Service awards and dinners 1,725 - - 1,725 2,378 - - 2,378
Bank Charges 83 - - 83 - - - -
----- End of picture text -----

CC17a (Excel)

08/03/2021

----- Start of picture text -----
Insurance 1,862 - - 1,862 - - - -
Administrative expenses 4,080 - - 4,080 5,676 - - 5,676
Accounting 8,983 - - 8,983 - - - -
Audit fee - - - - 3,660 - - 3,660
Sundry expenses 220 - - 220 - - - -
Other' - - - - 3,825 - - 3,825
Total other expenditure 30,165 - - 30,165 74,012 - - 74,012
TOTAL EXPENDITURE 45,850 - - 45,850 92,027 - - 92,027
----- End of picture text -----

Other information:

Analysis of expenditure on charitable activities

Activity 2 Other Total Activity or programme Activity 1	Activities undertaken directly Grant funding of activities Support Costs Total this year Activities undertaken directly Grant funding of activities Support Costs Total last year £ £ £ £ £ £ £ £ - - - - - - - - - - - - - - - - - - - - - - - - This year Last year
	- - - - - - - -

CC17a (Excel)

08/03/2021

Section C Notes to the accounts

Note 10 Details of certain items of expenditure

10.1 Fees for examination of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).

Other fees (for example: financial advice, consultancy, accountancy services) paid to the independent examiner Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees	This year Last year £ £ - - - - - - - -

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 11 Paid employees Please complete this note if the charity has any employees.

11.1 Staff Costs

This year: Salaries and wages Social security costs Other employee benefits Total staff costs Pension costs (defined contribution scheme)	This year Last year £ £ 55,308 - - - - -
	55,308 -

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party Last year:

Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party

Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

£60,000 to £69,999 £70,000 to £79,999 £80,000 to £89,999 £90,000 to £99,999 £100,000 to £109,999 Band Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity. For specific amounts paid to trustees, see Note 28.	This year Last year - - - - - - - - - - This year Last year £ £ - - Number of employees

CC17a (Excel)

08/03/2021

11.2 Average head count in the year The parts of the charity in which the employees work	Fundraising Charitable Activities Governance Other Total	This year Last year Number Number - - - - - - - -
		- -

11.3 Ex-gratia payments to employees and others (excluding trustees) Please complete if an ex-gratia payment is made.

This year Last year This year Last year Please state the amount of the payment (or value of any waiver of a right to an asset) Please explain the nature of the payment Please state the legal authority or reason for making the payment	This year Last year £ £ - -

CC17a (Excel)

08/03/2021

11.4 Redundancy payments

Please complete if any redundancy or termination payment is made in the period.

The nature of the payment (cash, asset etc.) Total amount of payment Please state the accounting policy for any redundancy or termination payments The extent of redundancy funding at the balance sheet date	This year Last year £ £ - - This year Last year £ £ - -

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 14 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

14.1 Cost or valuation

14.1 Cost or valuation
		Freehold land buildings £	&	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Total £
At the beginning of the year			-	-	-	2,407	2,407
Additions			-	-	-	-	-
Revaluations			-	-	-	-	-
Disposals			-	-	-	-	-
Transfers *			-	-	-	-	-
At end of the year			-	-	-	2,407	2,407
14.2 Depreciation and impairments
	**Basis	SL or RB (Straight Line or Reducing Balance)		SL or RB	SL or RB	SL or RB	SL or RB
	** Rate

At beginning of the year			-	-	-	2,407	2,407
Disposals			-	-	-	-	-
Depreciation			-	-	-	-	-
Impairment			-	-	-	-	-
Transfers*			-	-	-	-	-
At end of the year			-	-	-	2,407	2,407
14.3 Net book value
Net book value at the beginning of the	year		-	-	-	-	-
Net book value at the end of the year			-	-	-	-	-

CC17a (Excel)

08/03/2021

14.4 Impairment

----- Start of picture text -----
This year: Please provide a description of the events and circumstances that
led to the recognition or reversal of an impairment loss.
Last year: Please provide a description of the events and circumstances that
led to the recognition or reversal of an impairment loss.
14.5 Revaluation
If an accounting policy of revaluation is adopted, please provide: This year Last year
the effective date of the revaluation
the name of independent valuer, if applicable
the methods applied and significant assumptions
the carrying amount that would have been recognised had the assets been - -
carried under the cost model.
14.6 Other disclosures
This year Last year
£ £
(i) Please state the amount of borrowing costs, if any, capitalised in the construction of - -
tangible fixed assets and the capitalisation rate used.
(ii) Please provide the amount of contractual commitments for the acquisition of tangible - -
fixed assets.
(iii) Details of the existence and carrying amounts of property, plant and
equipment to which the charity has restricted title or that are pledged as
security for liabilities.
----- End of picture text -----

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 17 Investment assets

Please complete this note if the charity has any investment assets.

17.1 Fixed assets investments (please provide for each class of investment)

Investment properties Social investments Other Total NON UK UK Carrying (fair) value at beginning of period 1,209,416 1,907,635 - - - 3,117,051 Add:additions to investments during period - - - - - - Less:disposals at carrying value - - - - - - Less: impairments - - - - - - Add: Reversal of impairments - - - - - - Add/(deduct):transfer in/(out) in the period - - - - - - Add/(deduct):net gain/(loss) on revaluation - 28,599 - - - 28,599 Carrying (fair) value at end of year 1,209,416 1,936,234 - - - 3,145,650 Listed investments Please specify additions resulting from acquisitions through business combinations, if any.	Investment properties Social investments Other Total NON UK UK 1,209,416 1,907,635 - - - 3,117,051 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28,599 - - - 28,599 Listed investments	Investment properties Social investments Other Total NON UK UK 1,209,416 1,907,635 - - - 3,117,051 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 28,599 - - - 28,599 Listed investments
	1,209,416	1,936,234 - - - 3,145,650

Please note that Fair Value in this context is the amount for which an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there is no market price on a traded market, it is the trustees' or valuers' best estimate of fair value.

17.2 Please provide a breakdown of investments shown above agreeing with the balance sheet row B04 differentiating between those held at fair value and those held at cost less impairment.

This year: Analysis of investments Cash or cash equivalents Investment properties Listed investments Other investments Total Social investments Grand total (Fair value at year end+Cost less impairment)	- - Cost less impairment 3,145,650 - Fair value at year end £ - £ - - - - -
	- 3,145,650 3,145,650

Last year: Analysis of investments

Cash or cash equivalents Listed investments Investment properties Social investments Other investments

Total

Grand total (Fair value at year end+Cost less impairment)


Fair	value	at	year end		Cost	less impairment
		£				£
				-				-
			3,117,051					-
				-				-
				-				-
				-				-
			3,117,051					-
							3,117,051

CC17a (Excel)

08/03/2021

17.3 If your charity holds investment properties, please complete the following note:

	This year	This year		Last year
(i) Explain the methods and significant assumptions in determining the fair value of investment property held by the charity
(ii) Name or independent valuer, if applicable, and relevant qualifications
(iii) Provide details of any restrictions on the ability to realise investment property or on the remittance of income or disposal proceeds
(iv) Explain any contractual obligations for the purchase, construction or development of investment property or for repairs, maintenance or enhancements
17.4 Please provide a breakdown of current asset investments, if applicable,			agreeing with the balance sheet.
Analysis of current asset investments	This year			Last year
	£			£
Cash or cash equivalents			-			-
Listed investments			-			-
Cash investments			147,317		147,317
Social investments			-			-
Other investments			-			-
Total			147,317		147,317
17.5 Guarantees
		This year					Last year
Please provide details and amount of any guarantee made to or on behalf of a third party
Name of the entity or entities benefitting from those guarantees
Please explain how the guarantee furthers the charity's aims

CC17a (Excel)

08/03/2021

*Amount of concessionary loans received(Multiple* loans received may be disclosed in aggregate provided that such aggregation does not obsure significant information). 17.6 Concessionary loans Amount of concessionary loans made (Multiple loans made may be disclosed in aggregate provided that such aggregation does not obsure significant** information ). Where a charity has provided financial assets as a form of security, the carrying amount of the financial asset pledged as security and the terms and conditions relating to its pledge. For all investments measured at fair value, the basis for determining the value, including any assumptions applied when using a valuation technique. 17.7 Additional information Please provide information about the significance of investments to the charity's financial position or performance eg. terms and conditions of loans or the use of hedging to manage financial risk. Amounts receivable after more than 1 year Amounts payable after more than 1 year Amounts receivable within 1 year Terms and conditions eg interest rate, security provided Value of any concessionary loans which have been committed but not taken up at the reporting date Amounts payable within 1 year	*Total* *Description*	This year £ Last year £ - - - - - - - -
		- -
	This year This year *Description* *Total*	This year £ Last year £ - - - - - -
		- -
		Last year Last year

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

19.1 Analysis of debtors

Trade debtors Prepayments and accrued income Other debtors

Total

----- Start of picture text -----
This year Last year
£ £
9,309 9,309
- -
- 13
9,309 9,322
----- End of picture text -----

Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.

19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)

Prepayments and accrued income Other debtors Total Trade debtors	This year Last year £ £ - - - - - - - -
	- -

19.3 Related party transaction

Related party - Livery Related party - SIM Hall

Total	This year Last year £ £ 9,975 - 2,511 - 682 - - - - -
	9,293 - 2,511

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 20 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

20.1 Analysis of creditors

Accruals for grants payable Bank loans and overdrafts Trade creditors Payments received on account for contracts or performance-related grants Accruals and deferred income Taxation and social security Amounts owed to related undertakings Other creditors Total	This year Last year This year Last year £ £ £ £ 495 - - - - - - - - - - - - - - - - - - - - - - - - - 19,637 16,859 - - Amounts falling due within one year Amounts falling due after more than one year
	20,132 16,859 - -

20.2 Deferred income

Please complete this note if the charity has deferred income. Please explain the reasons why income is deferred.

*Please explain the reasons why income is deferred.* *Movement in deferred income account* Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous periods Balance at the end of the reporting period	This year	This year Last year £ £ - - - - - - Last year
		- -

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 24 Cash at bank and in hand

Note 24 Cash at bank and in hand
Cash on hand Other Cash at bank Total Short term cash investments (less than 3 months maturity date) Short term deposits	This year Last year £ £ - - - - 343 21,113 58,512 57,447 - -
	58,855 78,560

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

----- Start of picture text -----
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
- - - - - -
Restricted funds 72,426 - - - - 72,426
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Other funds N/a N/a - - - - - -
Total Funds 72,426 - - - - 72,426
----- End of picture text -----*

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

28.1 Trustee remuneration and benefits

This year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

----- Start of picture text -----
TRUE
----- End of picture text -----

In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

Related party - Livery Related party - Livery Name of trustee Legal authority (eg order, governing document) Related party - SIM Hall	Remuneration Pension contribution Redundancy (including loss of office)/ex gratia Other TOTAL £ £ £ £ £ - - - 9,9759,975 - - - - 682- 682 - - - - - - - - - - Amounts paid or benefit value

Please give details of why remuneration or other employment benefits were paid.

Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.

Last year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

*Where an ex gratia payment has been made to a trustee,* *provide an explanation of the nature of the payment.* Legal authority (eg order, governing document) *Please give details of why remuneration or other* *employment benefits were paid.* Name of trustee	Remuneration Pension contribution Redundancy (including loss of office)/ex gratia Other TOTAL £ £ £ £ - - - - - - - - - - - - - - - - - - - - Amounts paid or benefit value

CC17a (Excel)

08/03/2021

28.2 Trustees' expenses

If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".

No trustee expenses have been incurred (True or False)

----- Start of picture text -----
This year Last year
Type of expenses reimbursed
£ £
Travel - -
Subsistence - -
Accommodation - -
Other (please specify): - -
- -
TOTAL - -
----- End of picture text -----

Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity

28.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

This year

There have been no related party transactions in the reporting period (True or False)

						Amounts
Name of the trustee or related party	Relationship to charity	Description of the transaction(s)	Amount	Balance at period end	Provision for bad debts at period end	written off during reporting
						period
			£	£	£	£

In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.

For any related party, please provide details of any guarantees given or received.

CC17a (Excel)

08/03/2021

Last year

There have been no related party transactions in the reporting period (True or False)

Name of the trustee or related party Relationship to charity Description of the transaction(s) *In relation to the transactions above, please provide the* *terms and conditions, including any security and the nature* *of any payment (consideration) to be provided in* *settlement.*	Amount Balance at period end Amounts written off during reporting period £ £ £ Provision for bad debts at period end £

For any related party, please provide details of any guarantees given or received.

CC17a (Excel)

08/03/2021

Section C Notes to the accounts (cont)

Note 29 Additional Disclosures

The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.

CC17a (Excel)

08/03/2021

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

Charity Name

THE CHARITABLE AND EDUCATIONAL TRUST OF THE COMPANY OF SCIENTIFIC INSTRUMENT MAKERS

On accounts for the year ended Set out on pages Responsibilities and basis of report	30/09/20 Charity no (if any) 221332

	(remember to include the page numbers of additional sheets)
	I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended30/09/2020. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent	I have	completed my examination. I confirm that no material matters have
examiner's statement	come to my attention in connection with the examination (other than that
	disclosed below *) which gives me cause to believe that in, any material
	respect:
		the accounting records were not kept in accordance with section 130
		of the Charities Act; or
		the accounts did not accord with the accounting records; or
		the accounts did not comply with the applicable requirements
		concerning the form and content of accounts set out in the Charities
		(Accounts and Reports) Regulations 2008 other than any requirement
		that the accounts give a ‘true and fair’ view which is not a matter
		considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

----- Start of picture text -----
Signed: Buzzacotts Date: April 2021
Name: Buzzacotts
----- End of picture text -----

Relevant professional

Oct 2018

IER

qualification(s) or body (if any):

Address: 130 Wood St, London EC2V 6DL

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

IER

IER Oct 2018