INSTITUTE OF MATERIALS FINISHING DIRECTORS. REPORT FOR THEYEAR ENDED 30JUNE 2024 The dire¢tor3 present their ennuel reportAnd finan¢io1 ¥tstements forthe yearended 30June 2024. The Ilnanclal $tot¢ment3 have been prep8re(J In accordance wlth the accounting pokncieB Set out In note 1 to th• linan¢iaL statements and comply %wth the ch8ritys governin8 document, the Companies Act 2CQ6 and'Aecountlng and A&porting by Charities.. Statem•nt of R8comm8nded Practica applicabl• to ch8rities preparfngtheir accounts in aecordanca with tha Financlal ReportOn8Standard appllcable In tho UK and Ropublic ol Ireland IFRS 1021" leffecti¥B l J8nu•ry20191. ObJ•ctl¥•• •nd •¢llvlll The In￿Stutt of M8t•rlo1$ Finl8hing b8 a T￿￿er8d eh&rtt3bi• ¢omp8ny. founded In 1925.lts oblectlve18 to provlde a focus lor Surfaca Endon••wln8 8nd Flniyhing activitleswortdwida through Ihefulfiimont of the technic81. edue8ilonal and PTof&88ion81 needs at aLLlovol8for both th¢ indl¥ldua18 ond ¢omp#nlos Invol¥•d In thé coètln81 Indu8try. Prlnelp*lActlvlty Th• Instltuts 18 8 prfvate comp8rry Ilmft8d byHuoTrnt¢e. Its objectNes are to promote the theoryand pr8cll¢e of materlals flnlshSng •nd the Institute 18 exempi from the r8quirèmeni to use the S￿[d 'Ilmlted'. DIMctor• •nd M•n•g•m•nt 8o•MI The Dlreetors •nd Man•g•m•nt Boerd of th• In￿l￿ne or• Ilst•d on the charmy Inforrnatlon paqe ¢ontaln8d withln the flnanclal stat•m•nts. Publle B•n•flt Thè dlteclor8 &re aw8r• ol th• obllgatiorb8 01th8 charlry, %￿ICh are set out In Guld8n¢• l$$u•d by The Charltl•8 Ctsmmi3sion. They arg confldent that Ihe work gf the charlty In pur8Urt ot its object818 do1￿011n0 ￿bISC Beneflt. A¢hlw•m•o)i• •nd p•rlorrn•nc• Jrfng the year ended 30 Jun• 2024 Income from educailon deerno8Bd by E7.921. Timing8 of couno enrolments cre810 fluetuatlon8 between year8. Our strDte8y ts￿1 the upcoming ye8r13to contlnueto provlde edue8llon s¥￿¢e8 that aSs￿l ourstudentB end rn•mb¢rg and ensure our Industry develop& Fln•nclal r•vl•w Fln•n¢l#l poslllon In the currentyesr. thtrre hH8 been a decrease In educ￿00￿ Énd distance leaming income: however. costs rern8ining high, the Snere8se to Income is nol 3i¢nilicant enough to result In o ts8dlng protit for the year. Howev8r after Invesimtntgain8 a 8urplug of E37.728 has been 8¢nerBtod whichthe directOf8 conslder acc•ptsbits. INsrrruTE OF MATERIALS FINISHING DIRECTORS, REPORT{CONllNUED) FOR THE YEAR ENDED30JUNE2024 Inv•strn•nt PO￿oU0 The Instltute's portfollo continues to b& admlnlstered by an IndÉpènd•ntYund manag•r. Th• portfolio'8 market value increB88d to £583.099 88 at 30 June 2024. Rl8k• And R•*•r¥•s Polley The members olthe Management Board 8xamln* m8lor rl$ks Ih$ttho In$titut¥fo¢¢$ 08¢h flnanclal year ￿en preparlng 8nd upd8iing th• Stwt$wc H•n. The In¥titut? ha8 developed 8y71¥ms tts monltor and control these risk8 to mitigote eny impact that th8y moy hov8 On the In￿tUt& Inth8 future Structure, gov•m•nc• Ènd man8g•m•nt R•¢wltm•nt •nd •ppolnlm•nt of n•w dlr•ctorn In 88lectlni IndlwduaLJ for appointmerrt a8 dlTector*th8 dlrnctors have regard to 8klL18. kn￿￿9￿￿• and eKperfenco needed lorthe effectfve admIni￿NIon of lh• ¢h•rlty. With regthrd3 the Dppolntmentof indlvidueis e8 8r•nch otNcorn tho In8tltirtets M8nag8mont Commltt hes the powerto Co-opt to lh• Commtttee any m•mbor poss¢8$irt8exp¢rien¢e or qu8llfle8tlon8 likely to be otvalue to the Brnneh. Co-opt•d M•mb¢rs otthe Commlttee 8haLI have no votlng ptsw¢rs unle ¢o-opted to 11118 ¢88u81 v8canGy. Indu¢tlon •nd tr•lnlnKot n•w dlrn¢ioi• Olrector8 mu8t m8k• available to each newdlr•ctor on th•irfirst 8ppointm•nt'. a ¢opy of th8 Deed and any 8m•ndmeni# mad• io it, a copy olth• Charty'i lJte8t report and st8tem¢nt of 8ccount¥. Thay should ¢mph¥¥i8e the Rgspon¥ibibtie8 ofthe Directorn det•iled In the Report. FU￿r• Pl•n• Our iuturo pl•n¥ en3uTe tho In$￿t￿ts will continu• to gupport Itaknhoidern through the provision ol •ducational, information and nbtsyorking￿ntS whilst maintsining • contlnugd Incom• utreAm to stsin our onuoin8actb4itle¥. INSTITiwfE OF MATERIALS RNISHING INDEPENDENT ACCOUNTAKfs REPORT FOR THE YEAR ENDED 30 JUNE 2024 In orderto as818t you to fuifilyourduti88 under the Companles Act 2006. ws hav¢ prep•red foryour 8pproval the accounts of INSTITUTE OF MATERIALS FINISHING for the year ended 30 June 2024 as set out on pa888 6- 8 from the ¢tsmpanl3 accounting records and from informatlon and expianotions you have given us. As a prnctS$lng m•mber firm oftho In8ttiut• of Chort•r•d Ac¢ountsnt¥ in England ond WeioB IICAEW), vie 8re ¥ubject to r(8 ethicaland oiher prgte$$lonal requirements which •r8 detallad at Icgew.comlmemb•rsh•ndbooL Ourwork has boon und•rt8k•n In •c¢ordenc• A4F7116 08 d•t*ll8d Bt ica•w.¢omlcompil8tion. Pays Divid•nd$ Lld 22 Ullswatér Ro8 Handforth Wllmglow SK93NQ INSTITufE OF MATERIALS FINISHING STATEMENT OF FINANCIAL AGnvmES INCWDINO INCOME AND EXPENDITUREACCOUNT FOR THEYEARENDED 30JUNE2024 Unr••trlct¢d funds 2024 Unr•*trl¢t•d 2023 Not•• Incom• ftom: Charltabl* actlvllles Education Income Msmbèrs gubseriptionB bll¢ation8 67.905 41.225 66.878 41.049 5.532 0thgrtr8dlnlactiv￿.Q8 Invo8iment8 11.067 526 2.OOB 11,823 Totttl tn¢om• 120.728 127,288 Exp•ndltur• on: R8i$ing funds 3.659 2.423 Ch•rlt•bL• •¢tl¥ltlo• Educatlgn ¢oJt3 Members subscripiions eo*s Publieotlon ¢981¥ 83.626 49,842 1.486 79.022 46.563 17,843 Tot•1 ¢h•rlt•bi• •xp•ndltur• 134.954 143.42B Total •Xpènd￿rO 138,613 145.851 Net qaln811108oeg1 on In¥•8tm•nts 10 56,613 4.015 Net OLrtidni r￿aUT¢*8 for th• y•8r 37.728 114.5481 In on di$pw•l oltsngible fixed *¥¥et¥ 12 Net movement In funds 37.728 114.5481 Fund balances at 1 luly2023 862.945 877,493 Fund balances at 30 2024 900.673 862,945 The Statement of finoncialactlwties Includ8s allgalns and losses recogni$•d in th8 y•ar. AU income End expenditure deii¥e from continuing8etNiii•s. The statement tsffin8nci8l 8Ctrvities 8lso compbes with the reqU1￿MentS for an I￿orne and •thp¢ndltur¢ a¢count under the CompaniesAct 2006. INSTITLrrE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMENTS FQR THE YEAR ENDED 30 JUNE 2024 Ch*rlty Inlornmtlon In$tltute ol Moterlols is o wivate company iimttod trrfgv•rnntee incorpor*ed In ENgl•nd ond W•le8. The 188fj8ter8d olfice18 Exeter Hous• Unit2 Rornonway, Cowill, Birnin8ham, B46 1HQ. 1.1 A¢¢ounfihK¢ohb*htlo The fin8nci818Mem8nts h8ve b•an pr8par•d In 8ccOrd8ncè￿fh th•chorlty's gTrnmlngdocumont. t CompanlasAct 2C¥)6. FRS lo2￿h8 FinanciAI R*portln8Sthnd8fd apFllcabla in th6 UK and Repubtr'c of lieiend" I"FRS 102.1 the che￿93 SORP"AccounllThKJnd Reporting tyCharltl•s'. Stjtemontof Recommonded Pr8¢tlce 8ppUcablo to charl1￿8 preparln8their ￿cOUnta In accord8ncewlth the Flnanclal Reportin8 Standard 8ppIic8bl& inth8 UK Republic ol IrèiaNI IFRS 1021"18118cih 1 Januory 20191. Thts .. ehor*tyl#• Benefft Efflffya8d•firwtd ty FAS 102. The eh8rrtyho1 ioken ooknnt•i• ofih• In th• SOAPlw¢h•rft6¢1 notio prop￿ g Stal￿ent ol C*Jh Flo Theflnanclol 8tatem•r*ts8r•prepèrtd In8terllni.vthlch18 the frjnctlonal cunnwolth• charfty. Monetsry amounts Inth￿ Ilnan¢l81 liat•m•nts •r• rtyJnd•d ttsth• mIre￿ £. Th•tln•n¢6￿ st•t¢m•nts hM1)￿n ur￿¢rth¥ co•tcorN•niiorb, Imoéiliodto In¢ludoih• r•v•lu•tlon olfrn•hold pr¢•pertl•••ndlo In¢lud• Invo8tm•rrt prop•rtl•• fln•ncl•l InBtNm•nl• Jt l•lrvalu•l. Th• prlrtlpol •c¢ounllnqpoUclo8 •dopted 4r• let0￿ b•ltyw. 1.2 00Sr4 conc•rn At the Ilrne of•ppffj￿N6lh• flnan¢b•i#t•tsmtht•.th• dlrtetor• h•w • r••8ont4bi•w•¢t•llon th•tthe ¢h•rty hal adequate resourcosloeontinue in op•ratlon81 exi8tenu forthe tore8eeablo tuwr•. Thuj th• dlrethorg contlnu• toadopt lh8 Wngconcem basls of accountin8 In pr•parin8th• finonclal stat•m•nt•. 1.3 Ch•rfi•bl•lur Uniesirlcted fundB •re mliBbi•foruwatlhe dtscreiloTh DItt￿dIre￿Or1 InbJrtherqnc• olth•ir¢h*ritoble Aestrlcled lundJ 8rn wbj•cttO specific c¢)nditiOn8trJfdor￿r5 a#io h(w4lheymay b• u*•d. Tha purpos•88nd uae8 Otthe restrtcted fktnds 8re i•tout in the not08tothofinanclal statem8nt8. End¢￿Ment1￿Mdl Buble¢tto4p•dfi¢ ¢Or￿ltI￿n$ bydonorn th*t the uplt•l b• malnthlned bythe ch•rity. 1.4 In¢om• Incoma 18 raco8niaed%th•nthe chavitylts Louaity 6nir(l•dio itsfter ￿perf￿manCe condltsons hw• b••n m•t. the ornountu can b• rn0￿￿￿d rnll•biy. and probJbi•th•tlnB¢rnwMibD rryr•h*d. Cash donbrlorss are rncognl8ed on recelpt. Oth•r dona￿On3 ar• recognls•d oThcotho choiity ha¥ b•én nOt￿lad ofthe donatKJn.urda88 pertormènco condsiioni roquif•d8f6rr8101tho amovni. Income reeo%*r•blein rel•iioDtodon•tion¥ recei*d ur￿ÈrGift Aid ordeedsof ¢o%tMnl 1$ rte0￿1&•d •tthe time ol tho donatv)n. Legacitts are rtcogniJ*d on receiptor othewwi8e ifth¢ ¢harttyhas betsft not[￿ed of an impvndlngdistrlbution. the Bmount18 known. and rÉe8lptis L*pBd8d. Ilthtr imount 18 Mt tt* i•gAcy i8tr88ted 88 ¢Dntln8•nt4￿et INSTrrurE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMENTS (CONnNUED) FOR TrIEYEARENDED 30JUNE 2024 Accoun￿n¢poU0I•S (Corrtlnu•dl Exp•ndlEur• Expenditure 16 r•coAni8ed onc* ther• i* a legalorconBtrUcti￿QOiI10t1o￿totran8IereconOMlc bonofftto thlrd party, It Is piobablo a trnn￿Or ol economlc b•nofft8Wtllb8 mqulrtd In Bettlemont. and the 8mouni ofthe0b￿rfUtlQn con be rnejsured reliabi Expand￿J￿12 cla8sMed tyactly￿. Th8 tO8ts ol èach actmty arn up oltha totalol dlracieom 8nd Ihared cojts. includin$ support costs involve¢1 in undert•kingeach ocbvrty. Direct costs attiibutJbl• to 8 $ingi8 acti¥ltyare allocateddirectly 10th8t Acti￿ty. Shaied co8ts wthich contributo to more than on• a¢l￿ty 8nd 8UPPOrt costs whl¢h 810 notattslbutsbl* to o •ln81g a¢tMtyato •ppotVon¢d b8M*gThtho$8 8CtWiii•8 on a bttSl$¢on*litentw￿bfh¢ u•e ol r•souvcu. C•rtr•l•t•lfcoJtJ aro olli)cotod ontho b￿10 oltSm8 opent, 8Thd depreciation charge? aro alloc8tod ￿the portlon oftha 08aet a￿￿. Int•rtglbl• flx•d •M•t¥ Intsnglble 88set8 8cqulreds8pwotsiyfmm a buBID888arn roco8n18f*J atcotstsnd arn 6ub88quentiy rne•aur•d ai co* •e¢urhwJiat•d •mortl••Uon •nda¢¢wnuW•d Inwlrm•nt Iow8, Irrtanqlble 88set8 8cqulredon buolThuB combln8iion88fe reco8nlBed 80P8rarolyfrom8oooWU at tho cqul#Sti¢Jn d&t* wh•r• tt Is prob•bl•th•t th• •xp•¢t•d fvtur• •¢oftoml¢ th•tlW• attiibutabla toth• 0••OtwiU liowto th• •nuty•nd lh• 14irv•iu• ol tho 8$Mt¢•n b• mo•¥ur•d r•ti•bly.' th? intanwble a??er ariB•5from contrnctual orother I•￿1 rtqhts.. Bnd th• Imanilbi• 8*J•t l• 8OP8rabl• from the •ntlty. Amortllwksn l• r•¢oinl••d w48tC*wrrt• off tyv•lu•iionol••Mtr ￿#th•ll rn•ldu•lvaluuo4*r th•ir u¥•lul1fv•s on the foll¢wh￿baSe8.' Patenti & U¢•n¢w 10%SL 1.7 T4nObl•lL¥•d a•••ts Tanglble Ilxod asse14 are In6tlalty me•surndgt cost and 8ubwu•Mtym•uur•d•t co•1 oi¥•lu•tlon, not ol IraClA￿an •rylmp•irm•ntloM••. Depreciwion li fecognlsed 808sto￿•t*0ff the costof ¥•luat￿n ol •wt• hsstholf mlduJlv8luostsv•r thelr us•lul lfve8 on th¢ lollwAn8bau8'. Fr•ehold l•nd and buildsrqs Cfvei SO￿￿1¥12￿sL) FlxtUrnBgndfittingJ 20*& TheK•ln or lom owtslr4onth• rfispo8alofM I￿¢t 1$dètem￿nedtsthP dthrence btfv*¢nthe sal¢ proc8•d8•nd tho c•n0ng¥aI￿ olth• a88ei. rKogni8•d In th• 8tst•ment of fin•nck•lactivhi•8. Flx•d *s••t in*tm•nts •sset It￿81M￿li1¥ gre inlU8ltyff*•$4tr•d •ttrnrtS•rflonp￿￿ t￿￿￿n￿trIhS￿tION ¢o$t•. and ar 5ubs•queThiiyrr*8sured ￿ 181iv8iu8 ai each r•pthn8 d810. Changes It)fairvèlue are r•cognls•d In n•t IrKomell•xp8nditur•llorth• ￿*r.T￿on￿¢l￿ ¢¢>str or••Ap•n8•d •0 inrurrvd. lrnp•irmentoflixed assets At¢o¢h r¢porDni 8nd date.the cherty￿*￿8 the caThyiniamountsol Kstanobio and intswblo determinewthelherthe￿ Is anyindication thdtthoge asset$ ho¥e sultsred an imp8irmeM loss. Ifany such Indlc8tlon ￿¥1￿. thE reGOberBble•￿￿DtQI the •￿et is e¥lim•ted ￿ (Kdertodeterrnine the Éxt•nt of tha Imp$irm•ntioss Ilf any). INSTITiTfE OF MATERIALS FINISHING NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THEYEAR ENDED 30JUNE2024 AeoountirfpoUel•• IConllnu¢dJ 1.10 C•¥h•nd G•¥h equival•Tht¥ C*&h and tash equ￿11￿￿￿ intltsdt tash h*nd, dapo8tt8 hèld at call¥Ath bank8, Other 8hort-t8rm [￿Uld investrnentswith origjnol rnoturitses olthree months or leu. Brbd bank overdrnft& Bank overdr8ft8 ère ?hown *lthin borrryrtinga in ￿Th￿ntIl0￿11l108. 1.11 nnancl•l Instruments The charity h08 81oCt8d to applytho p￿•s1on8 ol Section l I 'B88ic fin8nclèl Instrurn•nts' and Soetlon 12 'Olh•i Fin•n¢i•llnstrum•rtt$ IMUM. of FRS 102 to •li•f ltsfin•n¢l•lln$irum•nts. Anèncl•L Instrum•nts •rn rneo8ri#•d kn th• ¢h•rW• bli•￿¢ 8h•attA*•n tho chofity bocomoè patyto th• ¢•ntr•¢tu•l p￿￿￿onI ollh• In8trum•nt. An8nclBL a888ts and Ilab1th188 off•8t.¥Aththo n81 amountsproMnt•d knthoflnanclol ¥t•tomonts.t*th•n th•r• [• •1•8alLy •nfor¢•8bie rlght to￿10￿ the rn¢ognl$•d •m¢bunt$ •nd th•r• l• •n intontlonto 8•tll• on rtot or to re8li88 the and sott￿th• I￿tr11rty¥lm￿tt4n0Ou￿y. ••lelln•n¢l•l ••••ty B¢$l¢ fl￿N¢101•s￿lJ. whi¢h irKlude d•biOrn •nd¢Mh •nd b•nk b•i•n¢•& •r• Inill4LLym•$$ured at iran80c￿0￿ prfce Indudln$ir8n88Ctlon cD8tJ and 8Te wbsequ•niiycarT+•d * amortlwd ¢0st u$ingthe effactfve Inr•r•si method unle8Sthe •rrangomeni COn￿llutel • lin8Thclngtr8n88Ction. ¥th•rB tho ir•n••clon l• m¢••ur•d •tlhe pr￿¢￿¥￿1u0 L)fth¢ lyiutg r¢¢¢*ti dl6¢ouM•d •ti motht r•i• of Int•reit. Flnancièl 88aets cl•ssffi•d 88 reCaN8bI•￿th1n on• yearare not amort18•d. ••1¢ fth•n¢ldU•tyltitl B8¥lolin8n¢i•l U•blUtle¥. includln8credhw84nd bwk I1￿ni￿r• Inhi•lly ￿0￿￿150￿ *ttran#Oc￿On p￿c• nleBBth8 8ir8n8ernentcon8titutes8 financinitr8n8action. wthero th• dobt ¢n8trurnént IJ me•fjur•d at the pre8enrv81u• ol the lutur• pawnents dl8couni•d 81 a mark•t rat• oiim•r•¥t. Fln8nclal Ilybthlol ¢1988llled 08p•y•bl•vAthln On•yV•r•r•n￿ •mortl8•d. D•bi Instsum•nts arn 8ub8•yntlyurrl•d 8twnortl8•dcoM, uslngthe effectbm int•ro•t Mt• m•thod. Tr•dg cr•dllor¥4r• obliWk+nitop•ytor¢oods Oru￿¢05 th•t hm •rqulred In the ordln8ryCO¢Jrn¢ of oporationsfron 8upplior& Amounts payable ar•da55ifi8d 8acurrent li•bilitse¥ if p•ym¢nt 1$ due ￿*thin on8ye8r oi Less. It not.Ih•y aro presented 83 non-currnni Li8billtle8. Trnde credRor8 are reco8ni$ed Inrtlglly *tti*ii••¢tlon prk• •NI $ubwu•ntty m•••ur•d •t•mtytiMd ¢o•t y•lngtho •ff•eiJ¥e Intsw88t rnéthod. D•rn¢oinlll•n of flMneb•lUablllll•B nanclal l*bilrti88 aro derecognisedwhenthacharftyEconiracwal obllptlon8 explr• or •r•dig¢h8f8ed or cancelled. Employ•0 b•n•fiii Th• tost of iny unu¥d holid•yentitl?rnvrrt r4 inthe Pq14Dd in￿1£￿ t￿ eMplO￿e.• le￿¢?8•r* i¢¢th*d. T•￿inal￿Th benefitS8re re¢oAniged immediatelyas an expen3ewhenthe thprity IB d•mon8tr8bty commffted rotamiln8te the •mpioymem of an ampioyye orto provldeterm1n￿ion b•Thefrti. INSTITUTE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED30JUNE2024 AGc•untir4 pollcles IContiny•dl Crlthealactourrtlnrfx￿rn&t￿ W￿l￿d￿rn•nts In the Qpplication olthe ch8ritys 8ccouniin8 pol￿1￿.the￿w¢¢l￿ or¢ requlwlto Mok¢1￿j￿rnents, 88tlm8tO8 and •ssumptk)ns aboiittho ¢*rr￿n8¥motsnf ol a￿lS￿rtd Il*bilhiesth•t ar* not raad￿Y apparont irom other tsource$. The ￿￿rnateS andassociated assurnpt￿s are based OD historl¢•l •xp•rieThc••nd Ot￿rf¥¢I0l• Ihgl •rt¢tsn•lLl¢K¢d tob• r¢ltr•ni. A¢iu•l rn•ult8 m•ydilf¢rlrom th••0 The Wdtimat888nd undortylng a88umptlonsar• r￿￿ts￿d on an ongolng ba•h. R￿liOns1O accountini 8$tlm8tO% 8re rècogni￿￿ inthe p•￿(￿ inwhichlha estirn•ta i¥ revised%th&rtrthfj rfjwslon •ff•¢ti only ihBt perlod. Or In th• p￿0d oftho ro*WoniThJ luturn pe1h)d#￿1￿TothOThd1I1on oftocts bothcurront ond luture perlo48. 10 f4 111- 21111 INSTrriJrE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMElItS (COPlnNUED) FOR THE YEAR ENDED 30 JUNE 2024 4 Oth•rirndlnK•￿Mtl nd• 2024 fund8 2023 Fundrftl8ln8tMdln8 ¢eiwe8￿￿1￿*Y Relund S8188 R(>yAItI Olh•rtr•dln8•¢tlv5ti 2.008 6.250 878 3.939 11.087 5 1￿￿trn•nt* Unr••trl¢t•d funds UN••trtet•d lund• lThcomefrom Ilot•d Inv•wnen Intsr•Jt rv¢efv•ble 10,048 1.775 526 526 11.823 Unr••tyict•d I￿ndS Unrn•trkl•d lund• (7oltdiycoai& Exhlbluon G￿t* 2.423 3.659 3.659 2,423 12 o* INSTITufE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMEKfs ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Support co•1• coBts St•N co D¢prn¢14tk)n 779 6.651 010 76.615 6.165 78,816 6,165 5,500 6,651 010 L•yl•nd PioloiabDalF• Sutsscrlpiior 6.826 7.186 340 8.131 340 St*Don•ry BankCharts• •iN•nan¢•-Offic• E•uipm•n¢& Pr¢pwty a.J24 3.324 603 1570 2.570 7.776 4925 337 le4 9,677 2.529 9.877 2,529 95 2,775 I*￿ph￿l 337 184 lThecover•bie Inp VAT 2,915 2.915 120286 010 126.276 114.382 $,465 120.847 Analymd Charli8ble •etNItV¥8 120.286 010 128270 6,486 120.B47 Govemnc• ¢Mt8 Includee pwnantstothe ouditorn ol Exml2023- E5.5001 lor 8udilf••8. ErnpioyM8 Th• •wrng• rnontNynumb•rol •rnplo>wB I￿rI￿the ￿orw￿l.. 2024 N￿b•1 2023 Nurnb•r ErnPlo￿Tr•nI oo•ts 2O2J W8g¢• ond 8•14rf•8 76.615 Therowfjro no omthee8who•e anThJ￿ renwMrntionw8s rnortrthwn £60.fXKI. 14 INSTITLITE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMENTS ICONnNUED) FOR THEYEAR ENDED 30JUNE2024 10 N•t #aln•llloM••loh IIiv••irn•Trt• Unrwilot•d ful￿¥ 2024 Unrn¥ld¢t•d fund• 2023 Rev8lu*ion of in¥￿Im0ntpr0p•rtlO8 G8inlllo481 on uia ol ikw•stm•rrtwop•rtl•8 2,642 1.373 4.015 11 T•x•tlon The chfir￿ l? ￿mPt￿Orn won Income ando01r￿ l•lllngvAfhln •ectlon SOS of th•7oxe$Act 7988 or 5ocllon 252 ollh•T&xAtion olCh8rg•8bl• GoinsAct 1992 10 tha &¥tent thaitho80 are app￿'•d to it5 ch81it8bi• oblecl8. 12 lth*nKlbl• flx•d••••ts P•t•Nts & Ile•ne•• Co•1 Ai 1 July2023 ind 30 2024 Amortl8•tlon•nd Impalrni• At 1 July 2023•nd 30)Uf￿ 2024 Carrylni•mourt AI 30 June 2023 At30 June 2024 INSTITLrrE OF MATERIALS FINISHING NOTES TO ThE FINANCIAL STATEMENTS ICONTINUED) FOR THEYEAR ENDED30JUNE 2024 13 T•nObl•llx•d M••i• Frmhoid l￿d •nd buldlngs FiKtur•• •nd Ilttln Total Co•t At 1 Juty2023 41ditio 272MS9 14.071 286,530 2.428 At30Jun•2024 272.459 1&499 288,958 D•pr•C￿0￿•nd lrnp•lrnMnt At 1 July2023 Depre¢la￿en chirytd inth•yeai 8.627 9,415 18.042 At30Jung 2024 14.076 C•Trylni•rnourt At 30jU￿ ?￿24 258.383 264,265 At 30Jun•2023 263.832 268,488 14 Flx•d a•••t U*t•d lnvm1￿•￿tl M•tknl V•lu• At 1 July 2023 Addklcns Di¥poMIJ IM8tm¢ni ¢iJh. mowment 527,468 627,468 N•t ￿n￿stMa￿t r•8llsod ￿1Th8 Nat inv•rtmont unreallwd gJlns At 30 June 2024 55.613 583.099 15 In¥￿￿•￿?1 #tf*lrv4u• oomprlm: Securtlie5 C8¥hwiihin irwe8iment portr(￿0 27.610 655.489 583.099 16 INsllTiITE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMENTS (COPMNUED) FOR THEYEAR ENDED 30 JUNE 2024 16 D•bto 2•23 thO￿nI5 f•lUng*J•wlthln on•￿ar. Trndo debtorn Othèr detytorn epaymonii accwod Incorne 1,996 4,818 5.148 13.985 7,443 22,418 11.￿2 17 Cr•dltor•: •rnountsf•Ulrfdu•*lthln on•y••r 2023 Oth•rtaX8tion ond 8ocbolt•curlty da crtrdhor8 AccN418 ond defe￿ed Incom• 1.275 .4,626 22.422 11.979 13.656 27.048 18 R￿T•mOnt b•n•fft •elwm•• Thè ¢horityoper8tes • dollnedcontrlbutlon p•n8lon ochwn•for all qualWThg•mpioyees. The B8Mt8 01 Iho scheme ore held ￿pOr810tytrDMthO1È 01t￿ c￿r￿Irt In Ind*ptrndentlyadmlhiitémd fund. 19 Art•1￿14 ol n•t••Mts b•tw••n fund• lkn•trl¢t•d fund¥ 2024 VnvMtrfot•d fund* 2023 Fund balanc￿ &130Jun¢ 2024 •r• r•prwnt•d Tongible Inve5tment¥ cuiiort888e￿¢ll8bo1rEb¢1) 258.383 268,48B 627,485 66,972 53.181 884,663 862.945 R•i•tsd partytr•nM¢tlon• R•mun•rntlon of k•ymanapm•ntpernoAn•i Thg remuTher8tion ol key m8no¥emenf pernonneii#a¥f(Ilows. 2024 2023 Ag¢retate compensgtlon 82,779 76.81$ 17 INSTrnyfE OF MATERIALS FINISHING NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THEYEAR ENDED30JUNE 2024 (Continu•dl Trw*otknn¥wlthmL•twl P*ll•¥ Du￿n1th• ye81 iho charityent•red Intothel(41oV4lr4trqnu￿0nS￿1th rniated pe￿88 Oul of pocktt •¥p•nw• 2024 2023 Prot•sslonal le￿1￿.. 2024- 112023- 11 "re¢iar' Ir4N*I.. 2024- 812023-91 INSTITUTE OF MATERIALS FINISHING BALANCE SHEET FOR THEYEARENDED 30JUNE2024 F￿•d aM•t$ IntAnglble assets Tanwble assets Ir￿StMent8 12 1J 14 264,265 S83.099 047J84 '268.488 527 485 795.973 Current ••s•t• D¢bto C•sh it ￿nk •nd Irt￿nd 22,418 44,547 11.962 82.058 94,020 Cr•dltorn'. •mount• Illu￿￿￿• wllhln on•y••r 17 113.6561 127,0481 N•teurr•nt￿•ll 53.309 66,972 Totsl•M•t• l•M ourrnrt U•bWJtl Ineom•lund• Unr88trict8d lundi 9)0.673 882.945 9)0.673 900.673 862.945 862,945 Tho finanelal It￿Orn0￿￿￿*￿ approN*d Dbr•ctOrnon... Mrjohn Olfver Dlr•otor ¢omp*ny r•Kl•tr•tlon numb•rOD498619 INSTITUTE OF MATERIALS FINISHING DIRECTORS. REPORT (coKnNUEDI FOR THE YEAR ENDED 30 JUNE 2024 DIRECTORS RESPONSIBILTIES Thè Dlractors otIn8￿lI￿a Of Mat8rfa18 Finish1￿ lof the purpos8s oftho CompaThth*A, are r•sponsiblq for preparingtht Report oftho LYr0¢ttsr8 andthe flnand* 8t•tomont8 Ih8¢¢tyd8nc&W￿th 8ppiic8bie Unlted Klnodom Accountlng Standard8lUnitsd ￿.￿Orn GonerailyAcceptsdACcoun￿n1 Prn¢tSMI. The CornpaniosAct requiw th• Dirvctornto pr•Mr•lin•ncwl rt¥t•mDntsfor•8¢h￿rt0n¢IgIY6Or, %thlch 1 true andf8lrv1￿ol th8 6t8te olaffalrB oftho charltsblecornpany gnd olthe Ineomlni re&ourcaA ond appllc8tlon ol r•gour¢a$. [￿ludIng1h¥ Income andaYpondhur4 of th• charhabl• comp8nylor th•yeor. In pr•p*rift8th•Je finjnciol ststem•ntB. tho Dlroctor8 aTorequwod tts.. S•lttt lu￿¥bI• •rcountlne pDil¢l•••rKI thon Wlyth•m¢￿•1•1¢1rtty: Ob$orwthe m•thod8 •nd prln¢lple• Inlh• Ch•rhlb•Sl•t•m•rf ￿ R•¢omm•nd•d Practlce SORP 2019 IFRS1021'. Make ludg•m•nts •stlmotos th•t ar• reatoMb￿ and prudenr, St•ti V4h¢th•r•ppllcobl• UKA¢¢ountlmqs¢ond4Tdi hm Wnfollmd.wblKito ory matwl•l dep8rture8 dl?clo8•d and a¥pi8Sn•d in the linarKlal *at•menis.' Prepare theflnaMla18t8tementson theBoln8cO￿fjrn b•* l•ln•ppropilot•to pmumeih*t the ch•rit•bl• ¢omp•rywlll ¢ontirH* inop•rntitsn. Th• Dlrectorn or• re8p0na1b￿I01 ke0￿￿1 kwop•i •cCwntlngrnC￿dSt￿t dl8ciou wllh r•••on•blo •¢cur8ryat ¥nytlm* thè fimnelal poaltlon of cha11tab￿ company ènd énible them to 6n&uro that the￿nanCI•l ¥t•l•m•nt$ complywlth th• Compan￿6 Aci 2006.TWare oiw r•sponsibi• for4at•guardlnith• •5sets of lh• eh6riiablo ¢ompony and hencelortaking reasonable fft•p8lorth• pr•¥*ntSon ond det•ction oftr•ud end other lrm8ular￿la8. kn $0 14raslh• Dliirtorn •r• •ww•- Th•rn IJ no re￿ffl Infom1￿1￿ ofvthlchthe clwiiable c