Charlty regl$tration number 260380
INSTITUTE OF CAST METALS ENGINEERS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

INSTITUTE OF CAST METALS ENGINEERS
LEGAL AND ADMINISTRATIVE INFORMATION
Tru$tè&s
T Stevenson
T Ayre
S Alexander
A Evans
M Dudley
T Carannanle
W Bennell
A Laing
A Rimmèr
D Prilchard
R Cairns
(Appointed 18 May 20241
Charlty numbgr {England and Wales)
250380
Reglstered office
National Foundry Training Centre
ECMS
Tipton Road
West Midlands
DY4 7UW
Audltor
Price Pearson Limited
Finch House
28-30 Wolverhampton Street
Dudley
Wesl Midlands
DY1 1DB
Bankers
Lloyds TSB
134 New Street
Birmingham
W8sI Midlands
B2 4QZ

INSTITUTE OF CAST METALS ENGINEERS
CONTENTS
Pagg
Trustees report
Independ&nt audilorfs report
Slalement of financial activities
Balance sheet
10
Notes ltr the financial slal&menls

INSTITUTE OF CAST METALS ENGINEERS
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Iruslees presenl their annual report and financial statements for the year ended 31 December 2024.
The fin8ncial stalemenls have been prepared in accordance with the accounting poli¢ies sel out in note 1 to the
financial slalemenls and comply w((h the cha￿ty'S governing document, th8 Chartties Act 2011, FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP PLeounting
and Reporting by Ch2ri1ies'. Statement of Recommended Practice applicable lo Charities preparing their accourEls in
accordance with the Financial Reporting Stan(Jard applicable in the UK and Republi¢ of Ireland (FRS 1021"
The legal and adminislrab've information fomis part of this report.
Prlnclpal actlvlty
The PTincipal activity of the company in the year under review was that of bringing together people from cast mel81s
and allied industries, to offer help and advice. networking opportunities, technical information, training and
professional development opportuniUes. in order lo help the instilultss members lo make most of Ihair careers.
Objectlvgs and activities
The objectives of the chaiily are to:_
Slimulale science and technology in the cast metals and allied industries.
Promote professional developmenl, leaming and education in the cast metals and allied industries.
Confer professional qualifications tjp lo the level of Chartered Engineer IhrDugh ils Membership Committee.
The charity is now an Affiliate of the Engineering CoL¢ncil lo achi8ve these objectives. 11 al80 promol&s lecluros,
webinars and seminars lo members.
The Inslilut& of Cast Metals Engineers is recognised End Point Assèssment OrgarTrisalion IEPAO}. Throughout 2023
and 2024 a number of End Point Assessments for Apprents'¢es were carried out for apprentices in the industry who
had completed the standard for Metal Casting, Foundry and Patteinmaking. A number of the apprentices received
the grade of distinction during thèsè assessments.
Over 16 18chnical short courses were delivered during 2024. in addition lo leadership and management cours88.
Plus, the inslilule was able lo deliver several bespoke courses to companies and Individuala during the course ol
the year, as well as delivery of a1evel 3 EAL Diploma lo groups of learners, This represented increased activity in
Iralning and il is hoped that this wlll continue durfng 2025 and help lo address future skills needs for the UK industry,
By &ngaging with employets from the sector ICME supporting a révision ol the level 3 metals casliw apprentice
standard, due to be completed during 2025.
As part of their annual subsciiplion , and in addition lo a regular newsletter, all members re￿1ve a regular copy ol
the Foundry Trade JoLbrnal. a technical and news publicatlon for the global foundry and castings industry.
An awards luncheon was held al the National Heritage Motor Museurn lo celebrate and honor the contributions and
achievements of many of the Inslilules, M8mbers. A number of regional technical events were held, some with on-
line access. on a range of technical topics, enabling members and individual from the wider industry, to theel and
nelwoik with like-minded people. Recordings ol some were also made available lo members.
The Iruslees are grateful lo all those who have organised events, hosted meetings ar￿ made presentations to our
membeis and the wider casting industry communily on behalf of the Inslitule.
Publlc beneflt
In shaping our objectives for the year and planning our activities. the trustees have consideied the Charity
Commissions guidance on public benefit , in particular. the Iruslèes consider how specific projects will contribute lo
thèir objectives.

INSTITUTE OF CAST METALS ENGINEERS
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢hlgvements and pgrformance
Charitable actlvltes
The Inslilule of Cast ANelals Engineers Dffers End Point Assessment of apprenlSces for the ft)undry. casllng and
patlernmaking indL4slries apprenlicoship programme.
As part of the commitment to trainiw and upskilling, tho inslitule's Education, Training and Profe8sional
Development Committee mee15 regularly lo oversee work lo increase the training offer for individuals in the industry
and lo work on a programme of promDlion of STEM and careers in Casting lo addr8ss the on-going skills and
re¢ruilmenl issues in the casting and foundry industry.
Membershlp Promollon and and Apprentices
59 new members were recruited lo ICME during 2D24. As part of ils commitment lo support young apprentices,
tethnicians and their companies. ICME ofFers free membership lo appr8ntices. TTuslees are curienlly workin9 on
inilialives lo promote new membership lo the inslilule.
Flnancial revl8W
Accounts and financlal posltlon
The attached financial statements Comply with current slalutory requirements, the charily's goverr4ng document,
and the FRS102 SORP Istalemenl of Recommènded Practice foiAccounling and Reporting by Chaiiliesl 2019.
The Statement of Financlal Activities summ8rSses the income sources and main areas ol expendrfLure. Opportunilie
lo control costs and raise income are ?clively sought by Investmenu Finance and General Purposes committeè. the
council continues lo invèsligale opportunities to work with like-minded organisations lo ensure that the Inslilul8
continues to meet its aim5 and objectives for the benefit of the castings industry.
Prlnclpal fundlng sources
The investment Powers are unreslricled but are managed under the advice of an investment Advisory Committee lo
the Council. Baillie Gifford & Co. is employed as the investment advisor. Capital withdrawals are made lo either
acquire or to give additional support in times of financial uncertainty.
The Institute's Principal source of during is membership subscriptlons amounting lo £57k training income
amounting to £212k for the year lo 31 sl of Décomber 2024. Thère was also income of £8.9k from investment
retuins.
Reserve$ policy
The Charity holds reserves lo support the long-term learning and educational needs of the sector and will continue
lo hold these reserves lo allow il lo gen@rale income to meet these objectives. The reserves policy is reviewed each
year by the Trustee's. The Trustees estimate that a sufficient level ol resetves lo hold would b8 equivalent lo 6
months of expenditure, laround £150k}. The Iruslees have agreed that if income levels allow, the Teserves will be
increased Ilo a maximum of £1 M) and any cash suiplus would be held in cash. in interest bearing acC￿nts. for
projects.
At the year end the charity held resvrves IDlaling £482,175 comprising of reslricled reserves of £12,713 and
unreslricled reserves of £469,462. The trustees consider the 18vel ol reserve5 cuirenlly held lo be of a sufficient
level lo support the charity moving forward.
Inv0￿ment policy
The investrnenl policy has beèn to continue to invosl in any stocks and bond consid8r@d by the investment
m8nagers lo form a sound basi5 foi stable long-lerm growth and reasonable income. The overall purpose of the
investment Is lo facililale additional income Tesources for the Charity. The laTgel for the splil of the current holding
remains at 100/0 Invested in bonds and 90tyk invested in equities and at the year end this was 15% and 85%
respoclively.

INSTITUTE OF CAST METALS ENGINEERS
TRUSTEES REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for future perlods
The aim of the Inslilule is to continue to support and develop professional development opportunities for those In
the industry. The industry continues lo have 8 particular need for training and professional development provision
for new apprentices 2nd graduates entering this sector. ICME continues to Dff8r an End Point Assessment service
for apprentices completing their Level 3 Metal Casting, Foundry and Patlernmaking and now also offers a wide
range of additional le¢hni¢al short courses, leadership and management courses and a diploma in casting lo
anyone seeking lo leam more abDUt the indu81ry and castings as a roule lo manufacturing.
11 Is recognised th81 the Instilute's finances are underpinned by the Investment portfotio bLtrt investment in staff has
mèant that the level of incom8 derived from training and EPA aclivilies has been improved.
ICME is currently working on implementing strategies lo improve future membership subscriptions, such as more
flexible paywnenl options and developlng new incentives lo promote new members.
structure. governance and management
Governlng document
The Charity is an Institute incorporated by Royal Charter, wilhoul shale capital. 11 operates under the name of
Institute of Cast Metals Engineers.
The Inslilule of Cast Metals Engin8ers is a UK professional engineering Institution founded in 1904 as the 'Brilish
Foundrymen's Association,. It was granted Royal Charter on the 25th of November 1921. On lh8 11th of October
2000 il changed its name lo Inslilule of Cast Metals Engineers. The Institute is registered as a charity under the
Charities Act 196L), number 250380.
Organlsatlon strueturo
Th& charity has three part.lime staff and around 18 volunteers who occupy positions al both regional and national
level. Some bought in secretaii81 support is provided thiough an SLA by staff from the Casts Federation, the trade
asso¢i&lion for the UK Csstings Industry. A combination of regional officers and national officers conslitules the
council who ratify all decisions at meetings held thrèe limes a year. The members of staff hav8 d8y-lo-day
responsibility wthin strict operating rules 2nd the Finance and gèneral Purposes Committee, IF&GPI, consisting ol
the national officers. plus branch represenlives and elecled meetings, meet on a regular basis lo give support.
Risk managoment
The Iruslees have a duty to identify and review the rlsks lo which the ch8rfly is exposed 8nd to ensure appropriale
controls are in place to provide reasonable assurance against fraud and error. Risks, both operational and financial,
are r6gularly reviewed by the Council. the F&GP and the Investment Advisory Commilloe. Th& major risks lo which
the charity are exposed, as identified by the Iruslees, have been reviewed and systems eslablishÈd to manage
those risks.
Pam Murrell, alongside Dlhers in the Cast Metals Federation team, overseas the day lo day running of the Institute,
via a support contract. Amy Worrallo 15 the En&Point Asses5rnenl and Training Marnagor, Kale Brown provldtss
adminislraliv8 SUPPOrt for the day-to-day bookkeeping and Trudi Skidmore is Tiaining Adminislralor.

INSTITUTE OF CAST METALS ENGINEERS
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 34 DECEMBER 2024
The trustees who servecl during the year and up lo the dale of signature of the financial slalements w8r8'.
T Stevenson
T Ayre
S A5exandèr
A Sartorious
A Evan$
M Dudley
T Carannanle
W Bennell
A Laing
A Rimmer
D PrilGhard
R Cairns
(Resigned 18 May 20241
IAppointed 18 May 20241
Recrultment and appointment of naw trustees
The Trustees are elecleol by Council, on one- two-. or Ihree-year terms.. these are the Branch Represenllves and
the Elected Members. Other Trustees are the office bearers of the Inslilule. namely the President, the Senior Vice
President, thè Junior Vice president and the Honorary Treasurer. The trustees are ele¢l8d to Council in accordanc8
th th& Inslilule Charter and By-Laws. 11 is the Council who is the Goveining Body of the Inslilule.
statement of trustee$ Tespon51bllltle$
The Iruslees are responsible foi preparing the Trustees Report and the fi'nanclal Statements in accordancé wlth
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice}.
The law applicable lo charities in England and Wales requiTes the trustees lo prepare financial slalemenls lor @ach
financial year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and
application of resourc&s of the Charity for th81 year.
In prepa￿ng those financial ststemenls, the trustees 8re required to..
select suitable accounting policios and then apply them consistently.,
obsetve the methods and principlgs in the Charities SORP.,
make judgeménts and eslimales that are reasonabl& and prudent.,
slate whether applicablè accounting standards have been followed, subject lo any material departLsres disclosed
and explained in the financial slalem8nls', and
prepare the financial slalements on the going concern basis unless il is inappropriate to presum@ that the charity
11 continue in operation.
The trustees are responsible for keeping suffi¢ienl accounting records that disclose with reasonable accuracy al any
Ilme 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) Regulations 2008 and the provisions of the trust deed. Th&y
are also responsible for safeguarding the assets of the Charity and hence lor taking reasonable steps for the
prevention and dele¢lion of fraud and trlher irregularities.
Websits
The TTUStegs are responsible for the maintenance and in18grity of the corporat8 and financial information included
on the chari18bl@ company's website. It is important lo bear in mind that legislation in th8 United Kingdom goveming
the preparation and dissemination of financial slatÈm@nls may differ from legislation in olherjurisdicliDns.
Audltor
Price Pearson Limited were appointed as auditor lo the company and 8 resolution proposing that they be re-
appointed will bo pul al a Gener81 Meeting.

INSTITUTE OF CAST METALS ENGINEERS
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of Information to auditor
Each of the IrLJStees has confirmed that there is no information of which Ihey are aware which is relevsnl lo the
audil. bul of whiGh the audilor is unawa￿. They have further confirmed that théy have taken appropriate slep5 10
identify such relevant information and lo establish that the aLKlllor is aware of such intormation.
The trustees report was approved by the Board ol Trustees.
ON BEHALF OF THE BOARD
leven50n
Truste8
Date..

INSTITUTE OF CAST METALS ENGINEERS
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF INSTITUTE OF CAST METALS ENGINEERS
Oplnlon
We have audiled the financial statements of Institute ol Ca81 Metals Engineers Ilhe 'Charity'l for the year ended 31
December 2024 which comprise the statement of financial sclivilies, the balance sheet and notes lo the financlal
slalements, including significant ac¢ounlin9 policies. The financial reporting framework that has been applied In
their preparation is applicable 18w and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The FinanGial Reporting St8ndard appliGable in Ihe UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Praclicel.
In our opiniL)n, the finan¢Fal statements..
give a true and fair view of the slate of the charity's affaiTS as al 31 De¢ember 2024 and of its incoming
resources and application of resource5. for the year then enéed,,
have been properly prepared in accordanGe with United Kingdom Gen•rally Accepted Accounting Practice..
and
have been prepared In accordance with the CharitiesAcl 2011.
8asls for opinion
Vve condLrcled our audit in accordance with International SlanLlards on Auditing {UKI IISAg IUKII and applicable
law. Our responsibilities under those stsndard5 are further described in the Auditors responsibilities for th8 audil ol
Ihe financial slal8ments section of our report. Wè are independent of the Charity in accordanc& with the ethical
requirements that are relevant to OLJr audit of the financial slalements in the UK, including the FRC'S Ethical
Standard, and wè have fulfilled our other ethical responsibilities in accordance with these reouiromenls. We belÈeve
that the audlt evidenc8 we have obtained is suffitienl and appropriate lo provide a basis for 0￿r opinion.
Concluslon$ relating to golng concern
In auditing the linancial slatemenls, we have concluded thal the trustees use of the golng concem basis ol
accounting in the preparation of the financial slalemenls is appropriate.
Based Dn the woik we have performed, we have not id8nlified any materlal un￿rtaInlieS relating lo events or
conditions that, individually or collectwely, may cast significant doubt on the Charity's ability to continue as 8 going
concern for a pe111￿ of al least twelve months from when the financial 8lal&menls ar& authorised for issue.
Our responsibilities and the responslbilities of the Iru51ees wÈth respect lo going concern are described in the
relevant sections of this report.
other Intortnatlon
The other information comprises the information included in th8 annual report other than the finartÈal statements
and our audilorfs report Ih8reon. The Iruslees are responsible for the other information contained w¢lhin the annual
report. Our opinion on the financial slalemenls does not cover the other information and we do not express any form
of a55uranc8 conclusion thereon. Our responsibility is lo read the Other information and, in doing so, consider
whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in
the couise of the audit, or othenwise appears to be materially misstaled. If we identify such material inconsistencies
or apparent material misstalemenls, we 8re required lo determine whether this gives rise lo a material misstalemenl
in the financial slalemenls Ihomselves. 11. based on the work we have performed. we conclude that there is a
material misstslemenl of this other infortllalion, we are required lo report Ihal fact.
We hav& nothing to report in this regard.
Mattgrs on whlch we are requir¢d to report by oxcoptlon
We have nothing lo reS￿rt in respect of the ftillowing mallers in relation to which thè Charities (Accounts and
Reports) Regulations 2008 require us to report to you if. in our opinion..
the inforrnalion given in the financial slalements is inconsislenl in any material re5￿Ct wth the INs18èS
report- or
sufficient accounting records have nDI been kept., OT
the financial statements are not in agreement with the accounting records.. or
we have nal received all the information and explanations we require for our 8udil.

INSTITUTE OF CAST METALS ENGINEERS
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF INSTITUTE OF CAST METALS ENGINEERS
Re5ponslbllltles of trustees
As explained more fully in the slalemenl of trustees responsibilities, the Iruslees are iesponsible for the preparation
of the financial slalemenls and for being satisfied that they give a true and fair view. and for such internal control as
the Iruslees determine is necessary lo ènable the preparatign of financial statements that are free from material
mlssl8temenl, whether due lo Iraud or euor. In preparing the financial slalemenls, the Iruslees are ¥esponsible foi
assessing Ihe Charity's ability lo continue as a going concern. disclosing, as applicable, mallers related lo going
concern and using the going concem basis of accounting unless the Iruslees either intend to cease operations, or
have no realistic 211ernatsve bul lo do so.
Auditorfs responslbllltles for thg audlt of the financlal statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and rèpert In accordancè wllh the
Aet and relevant regulations made or having effect thoreunder.
Our objectives are to obtsin reasonable assuran￿ about whether the fi'nanclal Statements as a whole are free from
material misslalement, wheth&r due lo fraud or error. and to Issue an auditor's ￿port that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a materi31 misstalemenl when it exists. Misstaternenls can arise from fraud 01
error and are considered maleiial if. intjlvidually or in the aggregate, they could reasonably be expected to influence
the oconomic decisi￿$ of users taken on the basis of these financial stalemenls.
Irregularities, Including fraud, are instances of non-compliance with laws and rogulalions. Vve design procedures in
line with our respon5ibililies, outlined above, Its detect material misslatemenls in r8sp@cl of irregularities, including
fraud.
Based on our understanding of the chaiity and the environment in which il opewales, we identified that the principal
risks of non-compli?nce with laws and regulations related to health and safely and employment (including lax8lioril,
and we ¢onsider&d the exlenl lo which non-compliance may have a material effect on the financial slalements. We
also considered those laws and regulations that have a direct impact on the preparation of the finan¢i81 slalements
Such as th& Charities Act 2011.
We evalu?led managements incentives and opportunities for ffaudulenl manipulation of the financial stslements
and determined that Ihe piincipal risk included revenue recognition and grant making. Audit procedures performed
by the engagement team included..
Erbquiry of management and those charged with governance regarding known or suspe¢ted fraud or
irregularity and the existence of actual or potential litigation.
Enquiry of staff in finance and management functions lo identify any instances of non-compliance with laws
and regulation5.
Performing audit work over the risk of management overtide of controls, including testing of journal entri88
for appropriateness, evaluating the business rationale of significant Irans8clion5 outside the nomial course
of business and reviewing eslimales for bias.
Agreeing financial slalemenl disclosures lo underlylng supporllng documenl8110n.
Because of the inherent limitations of an audit, there is risk that we will not delecl all irregularities, including those
leading 10 8 malerial misslalemenl in th6 financial statements or noEFcompliance with regulation. This risk increases
the more that compliance with a law or regulation is removed from the events and transactions reflècted in the
financial $18lÈm8nts, as we will bè less likely lo become aware of instances of non-compliance. The risk is also
giealer regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment.
forgery, collLssion, omission or misrepr8sÈntalion.
A further description of our responslbllilles is available on the Financial Reporting Council's website at.. hllps',11
www.frc.org.uklaudllorsresponsibililies. This description forms part of our auditor's report.

INSTITUTE OF CAST METALS ENGINEERS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF INSTITUTE OF CAST METALS ENGINEERS
oth8r matters
Your allenlion Is drawn lo the fact that the ch8rity has prepared financial statements in accordance with A¢¢ounling
and Reporting by Charilies.. Slalemenl of Recommgnd8d Practice applicable lo charities preparing their accounts in
awordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las
amended) in preference lo the Accounting and Reporting by Charities.. Slalement of Recommended Practrce issued
on 1 April 2005 which is referred lo in the extant regu5alions but has now beèn withdrawn.
This has been don8 in order for the financial slalements lo provide a true and fair view in accordance with current
Generally Accepted Accounting Practice.
Use ofour report
This report is made solely to the charity's trustees. as a body, in accordance with Part 4 of th? Charilles (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees
those mallers we are requlred lo slate lo them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not sccepl or assume responsibility to anyone other than the charity and the charity's
Iru8lees as 8 body, for our audit work, for this report, or for Ihe opinions we hav8 fomi&d.
Chrlstopher Cooper FCA FCCA IS9nlor Statutory Audltorl
For and on behalf of Price Pearson Limited, StaluloryAudilor
Chartered A¢counlanls
Finch House
28-30 Wolverhampton Street
Dudley
West MKllands
DY11DB
28April 2025
Pri￿ Pearson Limited is eligible for appoinlmenl as auditor of the Charity by virtu8 of ils eligibility for appoÈnlmenl
as auditor of a company under section 1212 of the Companies Act 2006.

INSTITUTE OF CAST METALS ENGINEERS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unreytrlct&d Restrlcted
funds
funds
2024
2024
Total Unrestrlcted Restrlcted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from..
Donations and legacies
Charitable activities
Investments
5,999
269,932
8,932
10,764
16,763
269,932
8,972
2,700
288,737
9,720
10,281
12,S81
288,737
9,932
40
212
Total Incomg
284,863
10,804
295.667
301,157
10,493
311,650
Expendlture on:
Charitable activities
327,366
11,676
339.042
286,721
10,986
297,707
Total 8xpendlture
327,366
11,676
339,042
286.721
10,986
297,707
Nel g8insl{lossesl on
investments
10
9,858
13.4871
6,371
36,108
370
36.478
Net Incomgllexponditurel and
movement In funds
132,6451
14.3591
{37,0041
50,544
{1231
50,421
RoconGlllatlon of funds:
Fund balances al 1 January
2024
502,107
17,072
519,179
451,563
17,195
488,758
Fund balanc88 at 31
December 2024
469,462
12.713
482,175
502.107
17,072
519,179
The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing aclivilies.

INSTITUTE OF CAST METALS ENGINEERS
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixod assets
Intangible assets
Tangible assets
Inve51menls
12
13
14
8,1
2,868
436,567
10,8QO
5,179
446,224
447,535
462,203
Current assets
Stocks
Debtors
Cash al bank and in hand
15
16
1.930
47,096
43,231
2,290
63,538
33,681
92.257
99,509
Creditors: amounts falllng due within
an8 yaar
157.8171
{42,533)
Net current as$èts
34,640
56,976
Totsl assets less current liabllltl8s
482.175
519,179
The funds of th• Charlty
Restricted incorne fijnds
Unrestricted fUr￿S
19
20
12,713
469,462
17,072
2,107
482,175
519,179
The financial stalemgnts were approved by the trustees on
..S.Lk.-.0..4.- 401
T Stevenson
Trustee
10-

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcies
Char5ty Informatlon
Inslilule of Casl Metals EngineÉrs is an InslFtule incorporated by Royal Charter. It operales under Ihe name of
Inslilule of Cast Metals Engineers and constltules a registered Charity und@r the Chaiilies AGI 1960, number
250360.
1.1 Accountlng conventlon
The financial slalemenls have been prepared in accordance with the Charivs governing document, the
Charities Act 2011, FRS 102 "The Financial Reporiing Slandar(S applicable in the UK and Republic of Ireland"
and the Charities SORP 'Accounling and Reporting by Charities.. Slalement of Recommended Practice
applicable lo charities preparing their accounts in 8¢cordance with the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021" The CharSty is a Public Benefit Enlily as d&fined by
FRS 102.
The Charity has lak8n advantage of the prov181ons In the SORP for charities not lo prepare a statement ol
cash flows.
The financial slalemenls have departed from the Charities {AccotJnts and Reports) Regulations 2008 only lo
the extent required lo provide a true and fair view. This departure has involved followng the Slalemenl ol
Recomrnended Practice for charities applying FRS 102 rather than the version of the Statement ol
Recommended Practi￿ which is raf@rred to in the Regulations bul which has since been withdrawn.
The financial slalemenls are prepared in sterling, whlch is the functional currency of the Charity. Monetary
amounts in th&se financial statements are rounded lo the nearest £.
The financial slalerllenls have been prepared under the historical ¢osl convention modified to include the
revaluation of certain financial instruments al fair value. The principal accounting policies adopted are sel out
below.
1.2 Golng concern
Al the lime of approving the finan¢ial slalements, the trustees hav& a reasonable expectation that the Charity
has adequate resources lo continue in operational existence for the foreseeable future. Thus the trus18eS
continue to adopt the going concern basis of accounling in preparing the financial slalement8.
1.3 Charitable funds
Unreslricled lunds are available for usa 81 the discretion of the trustees in furtherance of their ¢harilable
objectives.
Restricted funds are subject to speclfic conditions by donor8 or grantors as lo how they may be used. The
purposes and uses of the reslricled funds are sal out in the notes lo the financi81 slalements.
1.4 Income
Income is recognised when th8 Charity is legally enlill@d to il after any performance conditions have been
mel, the amounts can be measurèd reliably. and it is probable that incomo will be reGeived.
All income including membership subscriptions is recognised in the Statement of financial Activities once tho
charity has enlillement lo the funds, any performan￿ conditions attached have been met, il is probable th81
the income will be received, and th8 arnounl b& reliably measured.
Income from grants is rècognised on an accruals basis and are recognised in income in Ihe period the rolatsd
Gosls are incurred by the enlily lor which the grant is likely lo compensate.

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcl&s
(Continued)
1.5 Expendlture
Expenditure is Tecognised On￿ ther& is a legal or conslruclive obligation lo transfèr economic benefil lo a
third party, il is probable that a transfer ol economlc benefits will be required in setllemenl, and th8 amount of
the obligalh)n can be m98sured reliably.
Expenditure is elassified by activity. The costs of each activity are made up of the lolal trf di￿1 costs and
shaied costs. including support costs involved in undertaking each aclivlly. Diie¢t costs attributable lo a single
activity are allocated directly lo that 8clivily. Shaied costs which conliibule lo more than one activity and
support costs which are not alliibulable lo a single activity are apportioned betw&en those activities on a basis
consislant with the use of resources. Central staff costs are allocated on the basis of limé spent, and
depreciation charges are allwaled on the PDrtion ol the assel's use.
Costs of charitable activlties comprise all costs incurr&d in pursuit of the charitable objects of the company.
Governance costs Include those costs associated with meeting the conslilulional and statutory requirements
of the charity such as the cost of board meetings, statutory complianc6 and costs Ilnked lo th? strategic
managemént ol the ch8rily.
1.6 Intanglble flxed assèts oth&r than goodwlll
Amortisalion is charged on Publisalion Titles to the Statement of Flnancial Activities on a slraighl-line basis
over a period of 10 years which expired in 2013.
Amortisation on the database 50ftware 15 Charged on a slraighl-line basis over a period of five years
commenclng l January 2023 when th@ database came into use.
1.7 Tanglble fixed assets
Tangible fixed assets are initially measured al cost and subsequently m8asured al cost OT valuation, nel of
depreciation and any impairment losses.
Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their
usefvl lives on the following bases..
Fixiur6s and fillings
330h120%110Yo P.8 straight line basis
The gain or loss arising on the disposal of 8n asset is determined as the difference between the sale proceeds
and the catrying value of the asset, and is recognised in the statement of financial aclivilies.
1.8 Flxed asset Investments
Fixed asset investments are initially measured al IransacliDn price excluding transaction c0818, and are
subsequently measured al fair value at each reporting date. Changes in falr value are iecognised in n81
incomellexpendilurel for the year. Transaclion costs are expense(l as incurred.
1.9 Impalrment of flxed assets
Al each r@porling end dale. the Charity reviews the carrying amounts of ils tangible and intangibl& asse15 to
determine whether Ihare 15 any indication that those assets have Suffered an impairment loss. If. any such
indication exists, the recoverable amount of the asset is eslimaltsd in order lo determine the exlenl of the
impairfflenl loss lif any).
1.10 Stocks
Stocks are slated at the lower of cost and nel realisable value. after maklng due allowance for obsol&le and
slow moving items.
12-

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policles
Icontlnuodl
1.11 Cash and cash equivalents
Cash and cash equivalents in¢lude cash in hand. deposits held at call wlth banks, other short~term liquid
investments with original malurilies of three mc•nlhs or loss, and bank overdrafts. Bank ov@rdrafts are shown
within borrowings in current liabilities.
1.12 Flnanclal Instruments
The Cha￿tY has elected to apply the provisions of Section 11 'Basic Financial ItbStruments' and Section 12
'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrijmenls.
Financial Instrum￿1$ are recognised in the Charity's balance sh8$1 when the Charity becomes party lo the
conlraclual provisions of the inslrumenl.
Financ¢al assets and liabilities are offs@I, with the nel amounts presenled in the financial slalemonls, when
there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a net
basis or lo realise the asset and sellle the liabilily simultaneously.
Ba51c finan¢lal assets
Basic financial assets, which Indude deblois and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the effacliv
interest method unless th8 arrangem6nl ¢onslilules a financing Ir8nsaclion, where the transaction is
measured at the PTesenl value of the future receipts discoL5nted al a market rale of interest. Financial assets
classified 8s receivable wlthin one year are not amortised.
Basic tlftanclal liabilltles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the ariangemenl constitutes a financing transaction. where the debt instrument is measured al the present
value of th8 future payments discountèd al a market rale of interest. Financial liabilities classified as p8yable
within one year are not amortised.
Debt instruments are sub8equgntly ￿rrIed al amortised ¢osl, using the effe¢liv& interest rate method.
Trade creditors are obligations lo pay for gooLls or services Ihal have been acquired in th6 ordinary course of
Dperalions from suppliers. Amounts payable are classified as current liabilitlès if payment is due wrthin one
year or less. If not, they are pres8nted as non-Gurrenl liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured al amortisÈd cosl using the effective interest method.
Derecognitioft olflnanclal liobilities
Finan¢ial liabilities are derecognised when the Charity's contractual obligation8 expire or are discharged or
cancelled.
1,13 Taxatlon
The charity is an exempl charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered
to pass the lest5 sel out in Par8graph 1 Schedule 6 Finance Act 201 D and therefore il meels th8 deJfnilk)n of a
charitable company for UK corporation lax purposes.
1.14 Employ&e benefits
The cost of any unus8d holiday enlillemenl Is recognised In the period in whlch the employee's Sa￿1c@S are
receivecs.
Tenninalion benefits are recognised immediately as an expense when the Charlly is demonstrably Commilled
lo lerminale the employment of an employee 01 lo provide temiinalion benefit8.
13

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policlès
{Continuedl
1.15 Operating leases
Rentals applicable lo operating leases where SLEbstantially all ol the benefits and rfsks of ownorship remair¢
with the lessor are charged against profits on a slralghl-line basis over the period of the lease.
1.16 Value added Tax
The charity is registered for VAT and is parb'ally exempl. All income and expenditure 18 shown nel of VAT
where appropriate and disallowed input lax is inctuded within the asso¢i81ed costs.
1.17 Penslon costs and other post.r8tlrement beneflts
The charitable cornpany operates a defined conlribulion ptsnsion sch8m&. Contributions payable lo th&
charitable company's pension scheme are charged to the Statement of Financial Activities in the perlod lo
which they rélate. The contribution paid are shown in note g.
Income from donations and lega¢lgs
Unrestrlctèd Rgstrlcted
funds
funds
2024
2024
Total Unrestrlctgd Restrlcted
funds
funds
2023
2023
Totsl
2024
2023
Sponsorship
5,999
10,764
16,763
2,700
10,281
12,981
Income from charltabl& actlvltles
Unrestricted Unrestrlcted
funds
funds
2024
2023
Charltable activltles
Membership subscriptions
Training services
End point assessments
Miscellaneous income
57,056
189,448
18,900
4,528
67.945
169,785
37,600
13.407
269,932
288,737
Incomg from Investments
Unrestrlcted Rtrstrlcted
funds
funds
2024
2024
Total Unrestrlcted Restrictèd
funds
funds
2023
2023
Total
2024
2023
Quoted securities
8,932
40
8,972
9.720
212
9,932
14-

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expendtture on ¢haritable actlvltigs
ChaTitable
activlties
2024
Charltable
actlvltles
2023
Dlrect costs
Staff costs
Depreciation and impaimienl
Postage. stationary and telephone
Piofessional and consu118ncy
Engineering council fees
Contributions lo branches
Training Sèrvices
Eslablishmenl expenses
Othèr offices expenses
EPA development costs
Prizes and medals
Inslilule awards
Exhibition and travel
Cost of FTJ journal
Secretarial Support costs
Amortisalion
Trustees expenses
56,219
2,311
7,428
11,232
1,207
2,266
116,559
14,144
8,201
13,751
337
2,793
869
48,046
26,500
2,700
42,246
2,494
15,171
11,235
4.509
1.192
108,380
21,431
19,420
14.419
472
8,942
203
52,051
25,000
2,700
1,783
314,563
331,648
Share of support and govgrnance ¢osts Isee note 61
Governance
24,479
(33,9411
339,042
297,707
Analysis by fund
Unreslricled funds
Restricted funds
327,366
11,676
286,721
10,986
339,042
297,707
Support costs allocated to actlvlties
2024
2023
Bank charges
Governance costs
Bad debts
2.989
8,136
13.354
2,887
8,358
(45,1861
24,479
(33,941)

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs allocated to actlvltiès
IContinu8dl
Included within governance costs are audit fees amounting lo £5,000 (2023.. £6,000), Bad debts in 2023
include £5D,000 bad d8bl provision which was brought forward from 2022 that has now been recoveied.
N¢t movèment In funds
2024
2023
The ng1 movernenl in funds is stated after chargingllcredlllngl..
F8es payable for the audit of the charity's financial st816ments
Depreciation of owned tangibl8 fixed assals
Amortisalion of intangible assets
5,000
2,311
2,700
6.000
2,494
2,700
Trustees
Non8 of the trustees lor any persons connected wth th8ml received any remuneration or benefits from the
Charity during the year.
Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Employment costs
2024
2023
Wages and salaries
56,219
42.246
Employer pension contributions amounted lo £4,349 {2023 ', £3,309>, and thè balance oulstanding al the year
end is £41812023 £5411.
There were no 6mploy8es whose annual remuneration was more than £60,000.
10 Galns and losses on Investments
Unr8strlcted Restricted
funds
funds
2024
2024
Total Unrestricted Restrlctgd
funds
funds
2023
2023
Total
2024
2023
Gainslllossesl arising on..
Sale of investments
9,858
13,4871
6,371
36.108
370
36,478
11 Taxatlon
The charity is exempt from tsxation on ils aclivlties because all ils incorne is applied for charitable purpose5.

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Intanglble flxed assets
Publlcatlons
titi
ComputeT
softwartr
Tot81
Cost
Al 1 January 2024 and 31 Decembgr 2024
73,808
13.500
87,308
Amortlsation and Impalrment
Al 1 January 2024
Amortlsation charged for the year
73,808
2,700
2,700
76,508
2,700
At 31 December 2024
73,808
5.400
79,208
Carrylng amount
At 310ecembe(2024
8,100
8,100
Al 31 Decemb￿ 2023
10,800
10.800
13 Tanglble flxed assets
Flxtur88 and
flttlngs
Cost
Al 1 January 2024
17,138
Al 31 December 2024
17,138
Depreclatlon and Impalrmenl
Al l January 2024
D8precialion charged in the year
11,959
2,311
At 31 December 2024
14,270
Carrylng amount
At 31 December 2024
2,868
Al 31 December 2023
5,179
17-

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Fixed asset Inveytments
Invostments
Cost or valuatlon
Al 1 January 2024
Valuation changes
Disposals
446,224
18,955
{28.6121
At 31 D¢￿mber 2024
436,567
Carrylng amount
Al 31 December 2024
436,567
Al 31 December 2023
446,224
2024
2023
Investments al fair value compri5&'.
Uninvesled cash
Prize & medal fund investm8nl
BG fund 8 investments
1,284
6,735
438,205
3,288
431,279
434.567
446,224
There ￿re no investments assets outsid8 the UK.
The Managed unil trust lund which was neither li81ed or unlisted had a valuè as 81 the 31 December 2024 of
£3,288 (2023 .. £6,735).
15 Stocks
2024
2023
Stock
1.930
2,290
16 Debtors
2024
2023
Amounts falling dug withln one year:
Trade debtors
Other debtors
Prepayments and ac¢ru6d income
33,552
5,733
7,811
53,341
6.906
3,291
47,0
63,538
18

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEfvIENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Credltors: amounts falling due wlthln on8 year
2024
2023
Notes
Other laxalion and social security
Deferred income
Trade credltors
Other creditors
Acctuals
4.485
37,684
2,981
313
12,154
9.675
11.342
9.000
854
11,662
18
57,617
42,533
18 Deferred income
2024
2023
Other deferred Income
37,684
11,342
Deferred i￿ome Is IncludeLI in the financial slalemenls as follows..
2024
2023
Deferred income is included within..
Cuirent liabilitie8
37.684
11,342
Movements in the year..
Delerred income at 1 January 2024
Released from previous peiiods
Resources deferred in the year
11,342
(11.3421
37,684
34.550
134.5501
11,342
Deferred In￿Me al 31 December 2024
37,684
11,342
Deferred income consists of fees received for courses laklng place in the next fi'nancial year end￿ 31st
December 2025.
19-

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Restrlcted fun(Is
The reslficted funds ol the charity comprise the unexpended Income held on trust subject to specific
conditions by donors as lo how they may be used.
At 1 January
2024
Incomlng
resoLErces
Resources
expended
Golns and
105ses
At31
December
2024
Prize & Medal fund
The John Campbell Fund
The Foundry Training Trust
11,925
5,147
40
{9121
13,4871
7,566
5,147
10.784
110,7641
17,072
10,804
111,676
(3,4871
12,713
Prgvlous year:
At 1 January
2023
Incomlng
resources
Resourcas
expèndgd
Gains and
losses
At31
Dècember
2023
Prize & Medal Fund
The John Campbell Fund
The Foundry training Trust
12,332
4.863
119
93
10,281
{7051
179
191
11,925
5,147
110,2811
17,195
10.493
(10,986)
370
17,072
Prlze & Medal Fund
This fund was set up lo facilitate the awarding of prizos and mèdals lo members on an annual basis. The fund
provides the financing elewnenl of Ihls project and ensures that efficient resour¢8s are available lo meet the
annual demands of the awards proce8S.
Thè John Campbell fund
The fund originates from a fellow of the inslilule who had significant links to the Aluminum se¢lor. It is a
specific fun(Lsel up to facilitate and finance the awarding of recognition within the Aluminum field.
The Foundry Tralnlng Trust
This fund was s81 up to cover the cost of an individtjal employed lo bring in more candidates on ITaining
courses run by the Institute in order lo generate more income from the running of these cours&s,

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Unrèstrlcted funds
The unreslricled funds of the charity comprise the unexpgnded balances of income which are not sublect to
specific conditions by donors and grantors as lo how they may be used.
At 1 January
2024
Incomlng
resources
Resources
expended
Galns and
losses
At31
December
2024
General funds
502.107
284,863
1327.3661
9,858
469,462
Prevlous year:
At 1 January
2023
Incoming Resources
resources
expended
Galns and
losses
At31
Decembgr
2023
General ftjnds
451,563
301.157
1286,721
36.108
502,107
21 Analysis of net assets betwgon funds
Unrestrlcted
fundy
2024
Restrlcted
funds
2024
Total
2024
At 31 December 2024:
Intangible fixed assets
Tangible assets
Investments
Current assetsllliabililiesl
8,100
2,868
433,279
25,215
8,100
2,868
436,567
34,640
3,288
9,425
469,462
12,713
482,175
Unrestrlcted
funds
2023
Restrlctod
funds
2023
Total
2023
At31 December 2023:
Intangible fixed assets
Tangible 8ssels
Investments
Curlenl assel81lliabililies)
10,800
5,179
439,489
46,839
10,800
5,179
446,224
56,976
6,735
10,337
502.107
17,072
519,179
21

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Operatlng lease commltments
Lessee
Al the reporting end dale the Charily had oulslanding commitments for future minimum lease payments under
non-cancellable operating18ases, which fall due 8s follows..
2024
2023
Within olle year
Between two and five years
1,845
5,537
7,382
23 Related party transactlons
Tran5actlons with rglated parties
During the year the Charity entered into the fo11owlng transactions with related parlies..
During tho year membership 8ubscriplion f￿8 lotaling £1,836 12023
£2,516), which include Iroe
subscriptions lo the value of £16512023.. £175) were réceived from the Trustees ol the Charity. This was in
accordance wilh the nomal specific membership rates for each individual.
The charity rec@ived £1,036 12023.. £6801 from the Tiustees of the Charity from ticket sales lo the Awards
Ceremony held in the year. In addition, Ihere were 3 free lickels lolaling £204 {2023.' £420 - 7 free lickels)
available lo thre& Iruslees of the charity.
Travel expenses lolaling £NII 12023: £1,783) were pa1d lo a trustee and the balance oulstandSng as a131sl
December 2024 is Nil12023.' £Nill.
Foundry Equlpm&nt and Supplles Assoclatlon Ltd
A company in which S Hill and Ms L Poslle, folmer l(uslees of th8 charity whD resigned on the 24th June
2023. and A Turner,a spouse of Mrs L Postle, are directors.
During the year the charity paid membership fees of £37512023 . £3501 lo th& related party.
22-

INSTITUTE OF CAST METALS ENGINEERS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DEGEMBER 2024
23 Related party transactlons
Icontlnugdl
Foundry Trade Journal Ltd
A company in which Ms Postle. former Iruslee of the charity who resigned on tt)e 24th June 2023, 15 a dlreclor
and shareholder.
During the year the charity paid £48,04612023 . £52.0511 lo Foundry Tr￿e Journal Ltd. The$8 monies were
pald in relation lo the production and dislribulKsn of the Foundry Trade Journal and advertising in the
yearbook. This transaction was conducted on an arm's length basis and ralilied by all Iru81ees. Foundry Trade
Journal Ltd also gave sponsorship of £1,200 to the charlty in the ye8r12023'. £Nill.
Thomas Dudley Ltd
A company in which M J Dudley, a Irusteo of the Charity. 1$ 8 dlreclor.
During 2022 the charity invoiced Thomas Dudley Limited, course fees lola1ing £10,000 of which £4,286 was
deferred to the financial y&ar ended 3151 December 2023. During 2024 the charity invoiced Thomas Dudley
L1mited, course fees lolaling £5,250 of which £3,000 was deferred lo the financial year ended 31st December
2025. fickels and sponsorship lolaling £88612023 '. £Nill was also received during 2024.
William Lee Ltd
A company in which S Alexander, a trustee of the Charity, is a director.
During 2022 the charity Involced William Lee Ltd, ￿urse fees lolaling £10,000 of which £4,286 was deferred
to the financial yegr ended 31$1 December 2023. Further course fees wer8 invoiced in the year tolaling
£2,250. During 2024 the charity invoiced Wlliam Lè8 Limited. course fees lotaling £5,200. Ticket fees lolaling
£21712023 '. £Nill was alsci re¢eived dursng 2024.
Foundry Tralnlng Trust
A charity in which A Turner. spouse of a fomier Iruslee Ms Poslle who resigned on the 24th June 2023. is a
trustee. During th6 previous year the charity receivad donations from FTT lolaling £5,000 of which £1,073 was
deferred lo the current financial yè8r ended 31st December 2024. Further donations were received during the
year totaling £14,832 of which £5,142 ha5 been deferred in the financial slatem8nls as at 31 st December
2024.
TCAST Ltd
A company 18 which T Ayrè, a trustee of the chartty, 18 a director. During th8 year the Charity invoiced the
related party. course income tolaling £Nil12023.. £3,000).
Foundry Tralning Sorvl¢es Ltd
A company in which D Prilchard. a trusteè ol the charity, is a director. During the y@ar the related party
invoiced the charity £Nil12023.. £38,567} for course training material and re50urctss. Recharges of £Nil1£208)
wer8 made by the charity for thè use of the photocopier by the related party.
23-