CLEVELAND SCIENTIFIC INSTrruTION {A company limited by guarantoo) 103rd Roport and Financial Statements Y•ar gndod 30th June 2024 Company Reglstratlon No: 191037 Charlty Registration No: 250599
CLEVELAND SCIENTIFIC INsTUTION (A cornpany Ilmlted by guarantee) 103wd Report and Flnanclal Statements Year ended 30th June 2024 CONTENTS Report of the Management Committee 3-11 Independent Examiner's Report 12 St8tement of financial 8Ctiviiies 13 Balance sheet 14 Notes fonning part of the financi81 ststements 15-18
CLEVELAND SCIENTIFIC INSTITUTION 103DJ ANNUAL REPORT REFERENCE & ADMINISTRATIVE INFORMATION The Council has pleasure in Submlttlng its lo3 Annual Roport lo th• members of the Instilution covering ihe y•ar to 30th Jun• 2024. COUNCIL {Dlré¢tors and Trust•os) President J McGinr48 Vice President J Roul Secretary W Sulhers ROpOnt1VOg of the Member Societies Cleveland Insty'tution of Engineers S M Parker M Lewis J Roul A Klrk S Pallanl Insur8nce Instiknle ol Middlesbrough C N Heslop Instrtute of Physics A C Brobbs Institution ol Chemical Engineers A P Nc*they Instilutkln of Clyll Englneer8 S J KelleTmBn Institution of Engineering and Technol¢>ay D Young Instrtution of Mechanical Engineering T B Bradley Roy81 $iety of Chemislry J McGlnnis Teesside Unwersty N Dawood Chartered Quality Inslilule Energy Institute Inslilute of Measvrement and Control Welding Insts'tute Ex Offlclo (Past Presldentsl C How8rd A C Tlckner Appointed in A¢Idance wlh the Arb¢les of Association W Suthers
CLEVELAND SCIENTIFIC INSTITUTION 103nl ANNUAL REPORT (Contlnued) OFFICERS AND ADVISERS Honorary Treasurer W Suthers Orchard House Newton under Rosebery TS9 6QR Honorary Secretary W Suthers Orchard Houso Newton under Rosebery TS9 6QR Bankor8 Virgin Money Linthorpe R08d Middlesbrough TS1 1 RF Ind•pond•nt Examinor Graham Fllzgerald, BA FCA DChA Azets Audrt SeNices Wynyard Park House Wynyarrj Avenue, Wynyard TS22 5TB Stockbrokors Redmayne Bent18y LLP Church House, College Square. Stokesley Mlddlesbrough TS9 5DN Company Rogistration Number. 191037 Charfly R•glstratlon Nvmbor: 250599
CLEVELAND SCIENTIFIC INSThfuTION 103" ANNUAL REPORT (Contlnuod MEMBER SOCIEfiES Cl•v•lab)d Instltutlon of Engln8•rs aterkqL8 Processlng Institutè Eston Road, Grangetown, Mlddlesbrough, TS6 6US Ch•rt•red IalIty Institut• chaThry Ehange. 10 Fumival St, London EC4A 1AB En•rgy In$titu 61 Nèw Cavn(h'sh Slreet Lon<k)n,W1G 7AR Insurn In8titut• of MIddlbroUgh TIM Amen 18 Stoffidd Walk Acklam Middesbrough TS5 8RP Instliut• af Mgasur•mgnt and Control Mlke Vowell, 26 Pènland Avènue. Redcar, TS10 4HD Instt& ot PhrJl Alex Brabbs 76 Pol0nd Placè London. W1 B 1NT Inttion of Cl1 Engin• Rffl 2QB Drummond lIdIng SchcM)l of Clvil Enginètrrng and Geosdences NthThlle Une[ty Clawmont Road Nawc8Stlè un Tyne NE17RU InllUtIon of Chomi¢al Engino0rn Membership D0partftt, Daws BuildiThJ. Rugby, CV213HQ Imtltutlon of Englnawlng and Technology DavK5 Youry, 52 Rushmer8, Marton, Middlesbrough, TS8 9XL In¥tltullon ¢f M•¢hanlcal Engln••rs 28 The PopL4r5 wo1&tOn stCtOn ¢)n Tees TS22 SLY Royal Socl•ty of Chernistry MernbBf5hip D8p8rknenL Thomas Graharn House, 8ryen¢8 Park, Mirton Road, Cambridge. CB4 OWF T0•80kh UnlverBIty Tawlde Univsrsity MiddlesbroLb3h, TS1 3BA W•lding Imtitutt Don Atknnson Aurora Court, 8ar*)n Road Rlvetside Pork Middl8sbrou9h rs2 1RY Applkatlon• lor m•mb•rship of any of th• abov• Should b• mod• to th• address shown.
CLEVELAND SCIENTIFIC INSTrruTION 103° ANNUAL REPORT (Contlnuedl YEAR ENDED 30th JUNE 2024 About tho Institutlon The InSlutiOn Is registered as a Comp8ny Limited by Guarantee. In the event of the Inslllution being wound up. each member is liable to pay an amount, not exceeding £10 for up to one year after Ceasing to be a m8mber. The InstitLrtion was registered in 1923 as the Cleveland Scienttfic & Technical InstUtIon and in 1965 changed its name te the Cleveland Scientific Institution. It is govemed by Articles of Associatkjn and By.Laws adopted in 2015. Artlcles of Assoclatlon and Membershlp The Objects have recenlty been updated to reflect that the Institution currently is now largety a grant giving body in relation to encouraging people (especially young people) to take up STEM subjects as a ¢areer and also to encourage research in those subjects. Membership had been open to members of the then subscrlbing societies. It proved impossible to keep 8 check on these. so It was decided to make the Socleties themselves the members. The remainder of the new Articl&s reflect the 6tsndard ones issued ty the Charitles Commission. Obj•ctiv• of the Institution The objective of the Institution is the advancement of Science. Technology. EngSneering and M8them8tics and re18ted subjects including their application in education. industry and practice amongst the public and professionals wtthin the Tees Valley (currently defined 8S the unitary 8uthorities of Dadington. Stockton on Tees, HartleFooI, Middlesbrough and Redcar and Cleveland and surrounding areas, including Richmond and Whitbyl. The Council have considered the guid8nce contained in the Charity Commission's general guidance on publi¢ benefrt when reviewing tts aims and obiectNes in planning its future activities. The Institution is governgd by the Council. which meets regularty. The day-trTrday affairs of the Inslitutk)n are carried OLrt on tts behalf by Teesside University. Members of the Councll assist In Specif tasks and serve on various Committees which meet as required and 8s the Institution requires from time to tlme. P*)wers of Investment and Investment Policy The Council's powers of investment are laid out by the Articles of Association. These powers require it to invest the monies of the Institution not immediately required for rf(s purposes in or upon such investments, securtties or WDpety as may be thought frt. Until 2013 the CSI'S investments were all in fixed interest Government stock (gi) maturing from 2032 onwards. To safeguard the future of the finances of the Institute 8 formal investment policy was implemented from 2013 for the CSI to be able to invest in a more diverse range of inveslmenls. The aim Is to provide a growlng income stream (to combat inflatlonl whilst also trying to maintsin the current level of the capitsl base. Th8 init181 implementation of this policy was to progre8siv8ly replace some of the Govemment Stock with selected Investment Trusts. Since 2018 this policy has been further developed. inltlalty by broadening the range of selected Investment Trusts but also by delegating the reinvestment of the rernaining Government Stock to the InstitLrtion's broker, Redmayne Bentley Ilp with a broadly similar remtt for income and capf(al accumulatlon. In 2023 it was agre8d that the day-to-day management and reinvestment of all the CSI'S investments would be d8legated to Redmayne Bentley Ilp, with outcomes and perfoanCe regul8rfy reviewed by the CSI Finance Committee. The policy principles are unchanged. The full policy Is subjéct to review on an annual basis. révised and approved as necessary by resolutbon at the CSI AGM.
CLEVELAND SCIENTIFIC INSTrruTION 103" ANNUAL REPORT (Conllnued YEAR ENDED 30th June 2024 Confllcls of Inlerost Pollcy The Institution is mindlul of the need to avoid contlicts of interest and to have a wllcy to slate its Position on the matter. Particulady in view of the fact Councillors are nominated by Member Socletles, it is required that they identtfy px)ssible conflicts and go on to prevent this affecting any decision by dedaring the interest. Additionally, where decisions could result in beneffts to a councillor this must also be declared. The pol g08s on lo require that any potential or actual confllcts of Interest have to be reCded in the appropri8te minutes. Code of Conduct Policy The Institution works with affiliated societies and others to seek opportunities to advance STEM. It Is always mlndful that tts TTUStee8 act In a considerate and lawful manner. To this end it has dr8fted a policy for Its TNstees to follow. It states that the Trustees must obey the law and abide by the rules laid down by their Institutes. The Trustees should take an active part in the affairs of the CSI. attend meetlngs, and take part in debates. They should also accept majority decisions and respect confidentialty of th8 Institution, The Policy was agreed Members al the Annual General Meeting in November 2016, Revlew of the year The Institution looks for opportunrf(ies lo advance the cause of the sciences through providing places and facilities for meetings and promotions by way of supwrting lectures, exhibrtion$. and conferences especially where these are aimed at student and scholastic bodies and other organisations supporting young people. It also promotes sciences in schools by way of gr8nts and attempts to ensure that othernise disadvanlaged scholars are the target or included in the projects so supported. The Prestigious L•ctur• The 2023-34 Prestigious Lecture took place in Demb&r 2023. It was organised by the Cleveland Institutlon of Engineers, was entitled "Deep Science @ Boulby Underground Lab.. The search for Dark Matter and Beyond.. It was delivered by Prof Sean Paling, Facilty Director. Boulby Underground Laboratory. Prof Paling's thesis was.- -85•A of the mass of the unNerse appears to be missing. Evidence suggests the missing mass is likely to bè made up sub-atomic particles - in space, and all around us - and there is race on around the world to prove or disprove this theory. The search for these 'Dark Matterf particles needs to take place in deep underground Scnce laboratories. Thls talk wlll give an overvlew of life and sclence in the 1.1 km deep Boulby Underground Laboratory.. Alfred Clayton Hill and James Winship Jackson Awards The CleveLgnd Scientific Institution Alfred Clayton Hill Award 1$ presented lo an outstanding final year undergraduate student at Te8sside UnNersity, who has shown most promise and drive In finding additional STEM related skills and experience beyond th8ir academic studres, for example through voluntsry work. summer placement. extra-curricular activity. etc. In 2024 the bmnners of the ACH Prize {worth £600) was shared between L FaWtt and P Pathiyarapattie. The runners up {£50 8ach} were A Hussain, G Russell and T Nuttall. The James Winship Jackson Presidential Award is awarded to an outstaTrJing final year undergraduate student of Teesslde Unfverslty, who has completed a work placement of at least 12 vekS duration and shown additional initiative whi18 on placement. In 2024 the wlnner of the JWJ Prize (worth £600) was K Mayo. The runners up {£50 each) were K Skldmore. E Okapliba and J Brain.
CLEveLAND SCIENTIFIC INSTITUTION 103" ANNUAL REPORT (Contlnuadl YEAR ENDED 30th June 2024 Grants The application for CSI grdnts is promoted and overseen by a sub-committee of CSI. Approprlat6 projects are Identifled that meet the oblectlves of the Institution. Several projects were identified, and the followrng grants awarded'.- Grants Awardod Gr¢¢npowor Eaglescllffe School Lottle Books B•v•rl•y Schools Linnet Proj•¢t T••smouth Fi•ld Centre 4,570 4,677 1,730 5,615 4.000 2,500 Total for the yoar 23,092 It remains a constant challenge lo find worthwhile projects to maintain and develop the Instilution's profile. To this end a websrte has been set up at wvN.¢levelandscienlific.or .uk which details the Institution's fijnction. The website is currentty being iedeveloped and the Institution's offer 16 being marketed directly through fyers lo local councils, authorities and schools. No donatnS were receNed during the year.
CLEVELAND SCIENTIFIC INSTrruTION 103° ANNUAL REPORT Icontinuod) YEAR ENDED 30th June 2024 Membership The numlw of Member Societies on 30th June 2024 was 12. Membership of the Council Members of Council are nominated by the member societies. Councillors also can be elected by the Council for their expertise. During the year. Mr S Pa118nl was appointed as a director. All the rnaInIng Dlreclors were Directors for the whole of the year.
CLEVELAND SCIENTIFIC INSTITUTION 103rd ANNUAL REPORT {Contlnued) YEAR ENDED 30th Jun• 2024 Statement of Coun¢ll's Responslbllltles for Preparlng Accounts The Members of Councll (who are also Trustees and Dlrectors of the Cleveland Scientrfic Institution for the purposes of Charity and Company Law) are responsible foT preparing the Council's Report and financial statements in accordan with appli¢able18w and Unlted Kingdom Generally Attepted Accounting Practice. Company and Charity law requires the Members of Council lo prepare financial st8tements for each flnanclal year, which give a true and fair viaw of the state of affairs of the Institution and of the incoming resources and application of the same, Includlng Income and expendlture. of the Instltutlon for that period. In preparing those financial statements the Members of Council are requir8d to.. select suitabl8 accounting polici8s and then appty them consistently" observe the methods and principles in the Chartties SORP.. make judgements and estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the fi'nancial statements on the going conrn basis unless it is inappropriate to assume that the In5tilulion will continue in operation. The Member8 of the Council arg r8sFy)nsibl8 for k88ping proper awunting record8 that dlsclose with reasonable accur8cy at any time the financial position of the InstitLrtion and enable them lo ensure that the financial stalements compty with the Companies Act 2006. They are 8180 responsible for safeguarding the assets of the Institution and hence for taking reasonable steps for the prevention of fraud and other Irregularities. The present level of fundlng 1$ adequate to support the cx)ntlnuatlon of the operatlon of the Institution for the medium temi and the Council considers the financial position of the Institution to be $ati$fa¢tory. 10
CLEVELAND 8¢IENThC INSTITimoN 193" ANNUAL REPORT (conlindI InrJ)me forthe yearwas £31.010 P023.' £32,1e3) aB Of YthTth w8s ffDm I•- lttiefesl Irc GovMent SerAjrd$ 8nd Sh&re EVndre for1 year l<ued £32.700 (20fJ: £2029a, indtKllrwJ Grants Q3.092 (2023.. £12.15u) ar#2 Proos £1500 (2023." £2.8W. The valJe olthe InsiitLttsn¥ hLYeased the year kn 41ne wtsh tharvJes In Ihe Ff1QJ The inNtSThntywere led 91 £756.720 (2023: £715.9S1). The bond whK represents tho AW CtsylDTr HI.. Awa1 fvnd. das$ as mediLtThteiw¢ Stock, so our IMDktrn ptan to Iwmlatt am fhe fyTh15 wben apwDwiat¢. The ioMI ol ass•s ¢ £784.080 (2D23' £7eO,448). During the finanraal year SXfOshiP ol all was dFJk94ted to the Instit4thft's brok•r. Redrnayne bertky. Representa15 ol tho i Ihe gutse ofthe Fiiarte al Comrrdttee. have Sel lor the bryjkcr which aim lo milnlakn Ihe 18 of ts 4ivsbmertS wr1 5ufve inwne io SUP[rt thè InsItt'S adl¥kn and tlw grnrts mèpA the ¢lw#ab The Alfre(I clayrt AwAld Fuik1S af• eons01il¥led th these a¢xJ)unb to CA)mpty TNlh Commbslon r•qutremert%. Separ• aCt4niS a¢• provKied tormaFwerneThl The Insi110n.$ aeL¢)unts ale nol audlad but •n lthpth1ent has ljecn Io rympty with Ihe Ctsrty coffth1rt.$ rtquirèmènls. Alfmd C#ylOQ +ffjI AWf¢d Cl8ytoft Hll AWA is by the lern ofthe of the late Mf S¥r Hll v41i•d by Ine Chorliès Comwion tn 1992 and [5 th th¢ glft of the Pres]d¢N olthè In&ituliOrt. ALnoThkdgHnen The Council atso thanks those PAwTknJrs ofthe coun who gefipry)u5ty of li ¥arf0,,l¥tl (opecAe5. OTr whith it 15 p)ssts to put a Vdltte. In addaioth. the Coun91 the rMrxthn by Jur SheJn in her Lpa( ds Adm#1•1 Sècrelwy srA1 the honornry offiw Rert has been prepared in a¢an(% wlh the spcial m%lofts in Port Ispf the Cw)enies Aa. 21)06. r sfflall &ties.
INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF CLEVELAND SCIENTIFIC INSTITUTION l K)rt to the Trustee$ on my examination of th8 financial statements of Cleveland Scientrfi¢ Institutlon (the charitable company) for the year ended 30 June 2024. Responslbllllles and basls of roport As the Trustees of the charitab18 company land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with Ihe requirements of ihe Companies Aci 2(K)6 {Ihe 2006 Act). H8vlng satlsfied myself that the flnancial statemènts of the charitable company are not required to be audiied under Part 16 of the 2006 Act and are 81igible for independent examination, I r6POrt in respe¢l of my examination of the charitable company's financial statements ¢arried out under section 145 of the Charftles Act 2011 (the 2011 AGt). In carying out my examination I have followed all the applicab Directions given by the Charty Commission under section 14515)(bl of the 2011 Act. Indèpendènt Examiner's statement I have completed my examination. I confirm that no matters have )rne to my attention in connecllon wth the examination giving me cause to believe that in any material reswL accounting records were not kept in respeci of the charllable company as requlred by section 386 of the 2006 Art or 2. the financial statements do not accord with those records. or 3. the financial statements do not comply with the accounling requlrements of sectM)n 396 of the 20LK Act other than any requir8m8nt that the accounts give 8 true and fair view which is not a matter considered as part of an independent examination.. or 4. the financial statements have not been prepared in accordance wtlh the methods and prlnaples of the Statement of Recommended Practice for 8ccountlng and reporting by charities applicable to charities preparing their accounts in accordance with the Financial ReF)Orting Stsndard applicab18 in th8 UK and Republic of Ir6land (FRS 102>. I have no concems and have come across no other matters In connectlon with the examination to which attention should be drawn in this r8POrt in order to enable a proper understsnding of the financial slalements to be 'reached. rgJ i?117170 Graham Fitzgerald BA FCA DChA Wynyard Parf( Hous• Wynyard Avgnu• Wynyard TS22 5TB Azets Audh Sgrvlces 12
CLEVELAND SCIENTIFIC INSTrruTION STATEMEPIt OF FINANCIAL ACTIVITIES (Includlng In¢om• and Expondlture Account) YEAR ENDING 30th JUNE 2024 Notes Unrestriod Unrestricted Funds Funds 2024 2023 INCOMING RESOURCES FROM GENERATED FUNDS Inveslmonl Incom• Retums on investment 31010 32163 TOTAL INCOMING RESOURCES 31010 32163 RESOURCES EXPENDED Costs of gen•ratlng funds Charltable adlvltles Dlrect Expenditure In the fvrther8n¢e of the charity'8 objects 31804 19532 Governance costs 896 760 TOTAL RESOURCES EXPENDED 32700 20292 NET INCOMING RESOURCES 11690) 11871 Profrtl(Lossl on Sale of Investments ProfiV{Lossl on revaluation of investments 25324 116917) NEf MOVEMENT IN FUNDS 23634 {5046) Totsl funds at 1st July 2023 brought forward 760446 765492 Total funds at 30th June 2024 c8rrled forward 784080 760446 The Statement of Financial Activities includes all gains and losses recognised in the year. AH irming resources and resources expended derlve from continuing activtiie5. The notes on pages 15 to 18 form part ofthese statements. 13
CLEVELAND SCIENTIFIC INSTrruTION BALANCE SHEEr AS AT 30th JUNE 2024 2024 2023 Fi1 a88•ts Tanglble as88ts Inv88trnents 756720 71SJ81 756720 715861 Curr•nt a•••ts Cash at bank and in hand 31304 Credltorn: amount• falling du• vthhin on• yMr (3944) (1760) N•t curront a8s•ts 27380 G•reral 760448 The compgny 18 •nliUed to the exemption from 8udit re¢¥Ar&nent eertained In Walc 477 of th8 Companie8 Act 2006, forth8 year ended 30 th 2024. The dlrector8 ackn(wA th•ir responsibililies for complyirvj wth ts requremort8 of h Companles Aca 2( with r•sixct to a¢wJntiTrJ raconls arKI ts WeparatI of finanlial statnent& The Memb hav8 not requlred the <x)mP b obtaln an audit of Sts flnan¢lo18tatom for the year in qu88tion in accordanc Yath *#ion 47& The8e fin8nd818tatements have wepsred in accord8nca with wovistons aFWi¢able to (xYnwl8S 8u¥ecl to the 8mall rAimpgnies' rogrn. IE- 20Z Compary rngistraion number 191037 14
CLEVELAND SCIENTIFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30th JUNE 2024 Accounting pollcles (a) Basls of A¢¢ounling The financl81 ststements have been epar1 In accordance wilh the charitabl8 companls goveming document. th8 Companle6 Act 2006 and 'Accounting and Reporting by Ch8rities.' Statement of Recommended Pradice applicab to chartties prepadng thelr accounts in aordance with the Financial Repoiting Slandard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019)". The aritable company is a Public Benefrt Entity as defined by FRS 102. The financlal statements a prepared in sterling, whiGh is the functional wrrency of the charitable company. Monetary amounts in these finandal ststements are rounded to the nearest £. The finarKial statem8nts have been prepared under the histor1 cost conventlon. The principal SOunting lic aAopted ar8 set out below. (b) Golng Concern At the time of approving the financk81 statements. the Trustees have a reasonable expectation that the charitable company has adequ8te reSoUS to Cntinue in 0ratrOn818Xl5ten for the foreseeable future. Thus the Trustees wntinue to adopt the goiThJ concem tosis of acUntIng in preparing the financial statements. Ic) Incoming Resources All incoming resources are included In the SOFA when the Charity is legally entitled lo the Income and the amount can be quantified wth reasonable accuracy for legacies. Entitlement k8 the eadier of the charity beiNJ notrfth of an impending distribution or the kgacy being r1ved. Id) Resources Expended Resources exFEnded are recognised in the perlod in which they are incuThed. Resources expended include attributable VAT which cannot be recovered. Resources expended are allocated to the particular activity where the costs relate direclty to that actNty. However, expense$ such a8 rent or rates arKI energy are apportioned as to llwr space. Administration costs are split equally. Ie) Tangible Fixed Assets and Depreclatlon Tangible fixed assets are capit81ised and incfuded at cost including any AIdental costs of acquisrtion. Depreciation is provided at rates rAlculated to wrSte off the cost of each asset over it5 exFWted useful IKe at the following r8te". Fumtiure and Equipment 10 year5. lfj Unr•strlcted and Deslgnatod Funds Unrestricted Funds ara donations and other incoming resources receivable or generated forthe objects ofthe Charlty wlthout further Sified purwses and are available a8 general fundg. DesiJnaled funds have tsen set aside by tnjstees for a SFeufic purpose. 15
CLEVELAND SCIENTIFIC INSTrrimoN NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 (fj Investmonts All Inveslmenls are stated at market value. Th8 SOFA includes the net gains losses arising on revaluallons arKi dlsposals thrOut thè year. Total re50ufG95 expgnded Basls of Allocation Charitable Activilies Governan¢o Costs 2024 2023 Grants pai Direct Awards Direct Insuran Direct Administration Direct Meeting Costs Direct Webstte Costs Direct Mlscellaneous Costs Direct Accountancy Direct Commission & charges Direct SFonsorship Direct 23092 23092 12150 2800 1395 2013 1170 343 13 760 (352} 1411 3318 1411 3318 13 13 896 3970 3970 Totsl Rosourcos Exp8nded 31804 32700 20292 All of the above eynditure is in SpeCt of unrestricted funds in both periods. Not incoming rosources fortho year 2024 2023 This is stated after charging: Independent Examinerfs remuneration 760 No emolumènts or reimbursed 8XP8ns8s were pahj to members or trustees ofthe management committee. Taxaticn The charStable company Is exempt from corp)ration tax on its charitable a(*vitE$. 16
CLEVELAND SCIEpifiFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 Tangibh fixed assets Furniturn & Equipment Cost Al 1 st July 2023 and 30th June 2024 275 Depr•clation At 1st July 2023 and 301h June 2024 (275) Net book value At 30th June 2023 and 30th June 2024 There were no pItal commllments al 30th June 2024 {2023 - £NII}. Investrnents 2024 2023 RMayne Dlscrètionary funds:. At 30th June 2023 Purchased during the year Sale of Investments during the year Gainl{Loss) Realised during the year (Decr8a5eylncrease in investmènts from thang8 in value 301450 327916 18879 (20551 > 1672 (26466) 1510 At 30th June 2024 302960 301450 R•dmayn• Ex•cutlon funds:. At 30th June 2023 Purch888d during the year Sale of Investments during the year Gain Realised during the year {Decreaseylncrease in investments from change in value 23814 413641 404093 At 30th June 2024 437455 413641 Cash for Investment 16305 769 Total Value of Inveslments at 30th June 2024 756720 715861 Historical c08t of inve8tmants at 30th Junè 2024 707094 691558 17
CLEVELAND SCIENTIFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 Creditors: amounts falling due within one year 2024 2023 Sundry Credito Accru8ts 1760 3944 1760 Movement in fvnd8- current y8ar At 1st July 2023 Incomlng R•sources Outgoing Resources Revaluatlons At 30th June 2024 General fvndg Designal fvnd$ 73fy)35 30411 132700> 25191 133 752591 31489 Unrestricted funds 760446 31010 132700) 25324 784080 Movomant In funds- prlor year At 1st July Incoming 2022 R•sourc•s Outgoing Resources R•valuati¢>ns At 30th June 2023 General fulS DeSnated funds 7278 35814 31218 945 (188921 (14001 111%91 {49481 730035 30411 General funds 765492 32163 {20292) {16917) 760466 The designated fund Ss represented by the Afred ClaytonTrHIII Awards fund, held separately from our other funds. This fund MprISeS a bank a¢¢ount and an investment furKI. Further details on the purpose of this fund are detailed on page 7. Analysls of not assats botwaon funds All funds are gener81 unrestricted funds as noted in the ba18n sheet and movement in fjjnds note. 18
CLEVELAND SCIENTIFIC INSTrruTION {A company limited by guarantoo) 103rd Roport and Financial Statements Y•ar gndod 30th June 2024 Company Reglstratlon No: 191037 Charlty Registration No: 250599
CLEVELAND SCIENTIFIC INsTUTION (A cornpany Ilmlted by guarantee) 103wd Report and Flnanclal Statements Year ended 30th June 2024 CONTENTS Report of the Management Committee 3-11 Independent Examiner's Report 12 St8tement of financial 8Ctiviiies 13 Balance sheet 14 Notes fonning part of the financi81 ststements 15-18
CLEVELAND SCIENTIFIC INSTITUTION 103DJ ANNUAL REPORT REFERENCE & ADMINISTRATIVE INFORMATION The Council has pleasure in Submlttlng its lo3 Annual Roport lo th• members of the Instilution covering ihe y•ar to 30th Jun• 2024. COUNCIL {Dlré¢tors and Trust•os) President J McGinr48 Vice President J Roul Secretary W Sulhers ROpOnt1VOg of the Member Societies Cleveland Insty'tution of Engineers S M Parker M Lewis J Roul A Klrk S Pallanl Insur8nce Instiknle ol Middlesbrough C N Heslop Instrtute of Physics A C Brobbs Institution ol Chemical Engineers A P Nc*they Instilutkln of Clyll Englneer8 S J KelleTmBn Institution of Engineering and Technol¢>ay D Young Instrtution of Mechanical Engineering T B Bradley Roy81 $iety of Chemislry J McGlnnis Teesside Unwersty N Dawood Chartered Quality Inslilule Energy Institute Inslilute of Measvrement and Control Welding Insts'tute Ex Offlclo (Past Presldentsl C How8rd A C Tlckner Appointed in A¢Idance wlh the Arb¢les of Association W Suthers
CLEVELAND SCIENTIFIC INSTITUTION 103nl ANNUAL REPORT (Contlnued) OFFICERS AND ADVISERS Honorary Treasurer W Suthers Orchard House Newton under Rosebery TS9 6QR Honorary Secretary W Suthers Orchard Houso Newton under Rosebery TS9 6QR Bankor8 Virgin Money Linthorpe R08d Middlesbrough TS1 1 RF Ind•pond•nt Examinor Graham Fllzgerald, BA FCA DChA Azets Audrt SeNices Wynyard Park House Wynyarrj Avenue, Wynyard TS22 5TB Stockbrokors Redmayne Bent18y LLP Church House, College Square. Stokesley Mlddlesbrough TS9 5DN Company Rogistration Number. 191037 Charfly R•glstratlon Nvmbor: 250599
CLEVELAND SCIENTIFIC INSThfuTION 103" ANNUAL REPORT (Contlnuod MEMBER SOCIEfiES Cl•v•lab)d Instltutlon of Engln8•rs aterkqL8 Processlng Institutè Eston Road, Grangetown, Mlddlesbrough, TS6 6US Ch•rt•red IalIty Institut• chaThry Ehange. 10 Fumival St, London EC4A 1AB En•rgy In$titu 61 Nèw Cavn(h'sh Slreet Lon<k)n,W1G 7AR Insurn In8titut• of MIddlbroUgh TIM Amen 18 Stoffidd Walk Acklam Middesbrough TS5 8RP Instliut• af Mgasur•mgnt and Control Mlke Vowell, 26 Pènland Avènue. Redcar, TS10 4HD Instt& ot PhrJl Alex Brabbs 76 Pol0nd Placè London. W1 B 1NT Inttion of Cl1 Engin• Rffl 2QB Drummond lIdIng SchcM)l of Clvil Enginètrrng and Geosdences NthThlle Une[ty Clawmont Road Nawc8Stlè un Tyne NE17RU InllUtIon of Chomi¢al Engino0rn Membership D0partftt, Daws BuildiThJ. Rugby, CV213HQ Imtltutlon of Englnawlng and Technology DavK5 Youry, 52 Rushmer8, Marton, Middlesbrough, TS8 9XL In¥tltullon ¢f M•¢hanlcal Engln••rs 28 The PopL4r5 wo1&tOn stCtOn ¢)n Tees TS22 SLY Royal Socl•ty of Chernistry MernbBf5hip D8p8rknenL Thomas Graharn House, 8ryen¢8 Park, Mirton Road, Cambridge. CB4 OWF T0•80kh UnlverBIty Tawlde Univsrsity MiddlesbroLb3h, TS1 3BA W•lding Imtitutt Don Atknnson Aurora Court, 8ar*)n Road Rlvetside Pork Middl8sbrou9h rs2 1RY Applkatlon• lor m•mb•rship of any of th• abov• Should b• mod• to th• address shown.
CLEVELAND SCIENTIFIC INSTrruTION 103° ANNUAL REPORT (Contlnuedl YEAR ENDED 30th JUNE 2024 About tho Institutlon The InSlutiOn Is registered as a Comp8ny Limited by Guarantee. In the event of the Inslllution being wound up. each member is liable to pay an amount, not exceeding £10 for up to one year after Ceasing to be a m8mber. The InstitLrtion was registered in 1923 as the Cleveland Scienttfic & Technical InstUtIon and in 1965 changed its name te the Cleveland Scientific Institution. It is govemed by Articles of Associatkjn and By.Laws adopted in 2015. Artlcles of Assoclatlon and Membershlp The Objects have recenlty been updated to reflect that the Institution currently is now largety a grant giving body in relation to encouraging people (especially young people) to take up STEM subjects as a ¢areer and also to encourage research in those subjects. Membership had been open to members of the then subscrlbing societies. It proved impossible to keep 8 check on these. so It was decided to make the Socleties themselves the members. The remainder of the new Articl&s reflect the 6tsndard ones issued ty the Charitles Commission. Obj•ctiv• of the Institution The objective of the Institution is the advancement of Science. Technology. EngSneering and M8them8tics and re18ted subjects including their application in education. industry and practice amongst the public and professionals wtthin the Tees Valley (currently defined 8S the unitary 8uthorities of Dadington. Stockton on Tees, HartleFooI, Middlesbrough and Redcar and Cleveland and surrounding areas, including Richmond and Whitbyl. The Council have considered the guid8nce contained in the Charity Commission's general guidance on publi¢ benefrt when reviewing tts aims and obiectNes in planning its future activities. The Institution is governgd by the Council. which meets regularty. The day-trTrday affairs of the Inslitutk)n are carried OLrt on tts behalf by Teesside University. Members of the Councll assist In Specif tasks and serve on various Committees which meet as required and 8s the Institution requires from time to tlme. P*)wers of Investment and Investment Policy The Council's powers of investment are laid out by the Articles of Association. These powers require it to invest the monies of the Institution not immediately required for rf(s purposes in or upon such investments, securtties or WDpety as may be thought frt. Until 2013 the CSI'S investments were all in fixed interest Government stock (gi) maturing from 2032 onwards. To safeguard the future of the finances of the Institute 8 formal investment policy was implemented from 2013 for the CSI to be able to invest in a more diverse range of inveslmenls. The aim Is to provide a growlng income stream (to combat inflatlonl whilst also trying to maintsin the current level of the capitsl base. Th8 init181 implementation of this policy was to progre8siv8ly replace some of the Govemment Stock with selected Investment Trusts. Since 2018 this policy has been further developed. inltlalty by broadening the range of selected Investment Trusts but also by delegating the reinvestment of the rernaining Government Stock to the InstitLrtion's broker, Redmayne Bentley Ilp with a broadly similar remtt for income and capf(al accumulatlon. In 2023 it was agre8d that the day-to-day management and reinvestment of all the CSI'S investments would be d8legated to Redmayne Bentley Ilp, with outcomes and perfoanCe regul8rfy reviewed by the CSI Finance Committee. The policy principles are unchanged. The full policy Is subjéct to review on an annual basis. révised and approved as necessary by resolutbon at the CSI AGM.
CLEVELAND SCIENTIFIC INSTrruTION 103" ANNUAL REPORT (Conllnued YEAR ENDED 30th June 2024 Confllcls of Inlerost Pollcy The Institution is mindlul of the need to avoid contlicts of interest and to have a wllcy to slate its Position on the matter. Particulady in view of the fact Councillors are nominated by Member Socletles, it is required that they identtfy px)ssible conflicts and go on to prevent this affecting any decision by dedaring the interest. Additionally, where decisions could result in beneffts to a councillor this must also be declared. The pol g08s on lo require that any potential or actual confllcts of Interest have to be reCded in the appropri8te minutes. Code of Conduct Policy The Institution works with affiliated societies and others to seek opportunities to advance STEM. It Is always mlndful that tts TTUStee8 act In a considerate and lawful manner. To this end it has dr8fted a policy for Its TNstees to follow. It states that the Trustees must obey the law and abide by the rules laid down by their Institutes. The Trustees should take an active part in the affairs of the CSI. attend meetlngs, and take part in debates. They should also accept majority decisions and respect confidentialty of th8 Institution, The Policy was agreed Members al the Annual General Meeting in November 2016, Revlew of the year The Institution looks for opportunrf(ies lo advance the cause of the sciences through providing places and facilities for meetings and promotions by way of supwrting lectures, exhibrtion$. and conferences especially where these are aimed at student and scholastic bodies and other organisations supporting young people. It also promotes sciences in schools by way of gr8nts and attempts to ensure that othernise disadvanlaged scholars are the target or included in the projects so supported. The Prestigious L•ctur• The 2023-34 Prestigious Lecture took place in Demb&r 2023. It was organised by the Cleveland Institutlon of Engineers, was entitled "Deep Science @ Boulby Underground Lab.. The search for Dark Matter and Beyond.. It was delivered by Prof Sean Paling, Facilty Director. Boulby Underground Laboratory. Prof Paling's thesis was.- -85•A of the mass of the unNerse appears to be missing. Evidence suggests the missing mass is likely to bè made up sub-atomic particles - in space, and all around us - and there is race on around the world to prove or disprove this theory. The search for these 'Dark Matterf particles needs to take place in deep underground Scnce laboratories. Thls talk wlll give an overvlew of life and sclence in the 1.1 km deep Boulby Underground Laboratory.. Alfred Clayton Hill and James Winship Jackson Awards The CleveLgnd Scientific Institution Alfred Clayton Hill Award 1$ presented lo an outstanding final year undergraduate student at Te8sside UnNersity, who has shown most promise and drive In finding additional STEM related skills and experience beyond th8ir academic studres, for example through voluntsry work. summer placement. extra-curricular activity. etc. In 2024 the bmnners of the ACH Prize {worth £600) was shared between L FaWtt and P Pathiyarapattie. The runners up {£50 8ach} were A Hussain, G Russell and T Nuttall. The James Winship Jackson Presidential Award is awarded to an outstaTrJing final year undergraduate student of Teesslde Unfverslty, who has completed a work placement of at least 12 vekS duration and shown additional initiative whi18 on placement. In 2024 the wlnner of the JWJ Prize (worth £600) was K Mayo. The runners up {£50 each) were K Skldmore. E Okapliba and J Brain.
CLEveLAND SCIENTIFIC INSTITUTION 103" ANNUAL REPORT (Contlnuadl YEAR ENDED 30th June 2024 Grants The application for CSI grdnts is promoted and overseen by a sub-committee of CSI. Approprlat6 projects are Identifled that meet the oblectlves of the Institution. Several projects were identified, and the followrng grants awarded'.- Grants Awardod Gr¢¢npowor Eaglescllffe School Lottle Books B•v•rl•y Schools Linnet Proj•¢t T••smouth Fi•ld Centre 4,570 4,677 1,730 5,615 4.000 2,500 Total for the yoar 23,092 It remains a constant challenge lo find worthwhile projects to maintain and develop the Instilution's profile. To this end a websrte has been set up at wvN.¢levelandscienlific.or .uk which details the Institution's fijnction. The website is currentty being iedeveloped and the Institution's offer 16 being marketed directly through fyers lo local councils, authorities and schools. No donatnS were receNed during the year.
CLEVELAND SCIENTIFIC INSTrruTION 103° ANNUAL REPORT Icontinuod) YEAR ENDED 30th June 2024 Membership The numlw of Member Societies on 30th June 2024 was 12. Membership of the Council Members of Council are nominated by the member societies. Councillors also can be elected by the Council for their expertise. During the year. Mr S Pa118nl was appointed as a director. All the rnaInIng Dlreclors were Directors for the whole of the year.
CLEVELAND SCIENTIFIC INSTITUTION 103rd ANNUAL REPORT {Contlnued) YEAR ENDED 30th Jun• 2024 Statement of Coun¢ll's Responslbllltles for Preparlng Accounts The Members of Councll (who are also Trustees and Dlrectors of the Cleveland Scientrfic Institution for the purposes of Charity and Company Law) are responsible foT preparing the Council's Report and financial statements in accordan with appli¢able18w and Unlted Kingdom Generally Attepted Accounting Practice. Company and Charity law requires the Members of Council lo prepare financial st8tements for each flnanclal year, which give a true and fair viaw of the state of affairs of the Institution and of the incoming resources and application of the same, Includlng Income and expendlture. of the Instltutlon for that period. In preparing those financial statements the Members of Council are requir8d to.. select suitabl8 accounting polici8s and then appty them consistently" observe the methods and principles in the Chartties SORP.. make judgements and estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the fi'nancial statements on the going conrn basis unless it is inappropriate to assume that the In5tilulion will continue in operation. The Member8 of the Council arg r8sFy)nsibl8 for k88ping proper awunting record8 that dlsclose with reasonable accur8cy at any time the financial position of the InstitLrtion and enable them lo ensure that the financial stalements compty with the Companies Act 2006. They are 8180 responsible for safeguarding the assets of the Institution and hence for taking reasonable steps for the prevention of fraud and other Irregularities. The present level of fundlng 1$ adequate to support the cx)ntlnuatlon of the operatlon of the Institution for the medium temi and the Council considers the financial position of the Institution to be $ati$fa¢tory. 10
CLEVELAND 8¢IENThC INSTITimoN 193" ANNUAL REPORT (conlindI InrJ)me forthe yearwas £31.010 P023.' £32,1e3) aB Of YthTth w8s ffDm I•- lttiefesl Irc GovMent SerAjrd$ 8nd Sh&re EVndre for1 year l<ued £32.700 (20fJ: £2029a, indtKllrwJ Grants Q3.092 (2023.. £12.15u) ar#2 Proos £1500 (2023." £2.8W. The valJe olthe InsiitLttsn¥ hLYeased the year kn 41ne wtsh tharvJes In Ihe Ff1QJ The inNtSThntywere led 91 £756.720 (2023: £715.9S1). The bond whK represents tho AW CtsylDTr HI.. Awa1 fvnd. das$ as mediLtThteiw¢ Stock, so our IMDktrn ptan to Iwmlatt am fhe fyTh15 wben apwDwiat¢. The ioMI ol ass•s ¢ £784.080 (2D23' £7eO,448). During the finanraal year SXfOshiP ol all was dFJk94ted to the Instit4thft's brok•r. Redrnayne bertky. Representa15 ol tho i Ihe gutse ofthe Fiiarte al Comrrdttee. have Sel lor the bryjkcr which aim lo milnlakn Ihe 18 of ts 4ivsbmertS wr1 5ufve inwne io SUP[rt thè InsItt'S adl¥kn and tlw grnrts mèpA the ¢lw#ab The Alfre(I clayrt AwAld Fuik1S af• eons01il¥led th these a¢xJ)unb to CA)mpty TNlh Commbslon r•qutremert%. Separ• aCt4niS a¢• provKied tormaFwerneThl The Insi110n.$ aeL¢)unts ale nol audlad but •n lthpth1ent has ljecn Io rympty with Ihe Ctsrty coffth1rt.$ rtquirèmènls. Alfmd C#ylOQ +ffjI AWf¢d Cl8ytoft Hll AWA is by the lern ofthe of the late Mf S¥r Hll v41i•d by Ine Chorliès Comwion tn 1992 and [5 th th¢ glft of the Pres]d¢N olthè In&ituliOrt. ALnoThkdgHnen The Council atso thanks those PAwTknJrs ofthe coun who gefipry)u5ty of li ¥arf0,,l¥tl (opecAe5. OTr whith it 15 p)ssts to put a Vdltte. In addaioth. the Coun91 the rMrxthn by Jur SheJn in her Lpa( ds Adm#1•1 Sècrelwy srA1 the honornry offiw Rert has been prepared in a¢an(% wlh the spcial m%lofts in Port Ispf the Cw)enies Aa. 21)06. r sfflall &ties.
INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF CLEVELAND SCIENTIFIC INSTITUTION l K)rt to the Trustee$ on my examination of th8 financial statements of Cleveland Scientrfi¢ Institutlon (the charitable company) for the year ended 30 June 2024. Responslbllllles and basls of roport As the Trustees of the charitab18 company land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with Ihe requirements of ihe Companies Aci 2(K)6 {Ihe 2006 Act). H8vlng satlsfied myself that the flnancial statemènts of the charitable company are not required to be audiied under Part 16 of the 2006 Act and are 81igible for independent examination, I r6POrt in respe¢l of my examination of the charitable company's financial statements ¢arried out under section 145 of the Charftles Act 2011 (the 2011 AGt). In carying out my examination I have followed all the applicab Directions given by the Charty Commission under section 14515)(bl of the 2011 Act. Indèpendènt Examiner's statement I have completed my examination. I confirm that no matters have )rne to my attention in connecllon wth the examination giving me cause to believe that in any material reswL accounting records were not kept in respeci of the charllable company as requlred by section 386 of the 2006 Art or 2. the financial statements do not accord with those records. or 3. the financial statements do not comply with the accounling requlrements of sectM)n 396 of the 20LK Act other than any requir8m8nt that the accounts give 8 true and fair view which is not a matter considered as part of an independent examination.. or 4. the financial statements have not been prepared in accordance wtlh the methods and prlnaples of the Statement of Recommended Practice for 8ccountlng and reporting by charities applicable to charities preparing their accounts in accordance with the Financial ReF)Orting Stsndard applicab18 in th8 UK and Republic of Ir6land (FRS 102>. I have no concems and have come across no other matters In connectlon with the examination to which attention should be drawn in this r8POrt in order to enable a proper understsnding of the financial slalements to be 'reached. rgJ i?117170 Graham Fitzgerald BA FCA DChA Wynyard Parf( Hous• Wynyard Avgnu• Wynyard TS22 5TB Azets Audh Sgrvlces 12
CLEVELAND SCIENTIFIC INSTrruTION STATEMEPIt OF FINANCIAL ACTIVITIES (Includlng In¢om• and Expondlture Account) YEAR ENDING 30th JUNE 2024 Notes Unrestriod Unrestricted Funds Funds 2024 2023 INCOMING RESOURCES FROM GENERATED FUNDS Inveslmonl Incom• Retums on investment 31010 32163 TOTAL INCOMING RESOURCES 31010 32163 RESOURCES EXPENDED Costs of gen•ratlng funds Charltable adlvltles Dlrect Expenditure In the fvrther8n¢e of the charity'8 objects 31804 19532 Governance costs 896 760 TOTAL RESOURCES EXPENDED 32700 20292 NET INCOMING RESOURCES 11690) 11871 Profrtl(Lossl on Sale of Investments ProfiV{Lossl on revaluation of investments 25324 116917) NEf MOVEMENT IN FUNDS 23634 {5046) Totsl funds at 1st July 2023 brought forward 760446 765492 Total funds at 30th June 2024 c8rrled forward 784080 760446 The Statement of Financial Activities includes all gains and losses recognised in the year. AH irming resources and resources expended derlve from continuing activtiie5. The notes on pages 15 to 18 form part ofthese statements. 13
CLEVELAND SCIENTIFIC INSTrruTION BALANCE SHEEr AS AT 30th JUNE 2024 2024 2023 Fi1 a88•ts Tanglble as88ts Inv88trnents 756720 71SJ81 756720 715861 Curr•nt a•••ts Cash at bank and in hand 31304 Credltorn: amount• falling du• vthhin on• yMr (3944) (1760) N•t curront a8s•ts 27380 G•reral 760448 The compgny 18 •nliUed to the exemption from 8udit re¢¥Ar&nent eertained In Walc 477 of th8 Companie8 Act 2006, forth8 year ended 30 th 2024. The dlrector8 ackn(wA th•ir responsibililies for complyirvj wth ts requremort8 of h Companles Aca 2( with r•sixct to a¢wJntiTrJ raconls arKI ts WeparatI of finanlial statnent& The Memb hav8 not requlred the <x)mP b obtaln an audit of Sts flnan¢lo18tatom for the year in qu88tion in accordanc Yath *#ion 47& The8e fin8nd818tatements have wepsred in accord8nca with wovistons aFWi¢able to (xYnwl8S 8u¥ecl to the 8mall rAimpgnies' rogrn. IE- 20Z Compary rngistraion number 191037 14
CLEVELAND SCIENTIFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30th JUNE 2024 Accounting pollcles (a) Basls of A¢¢ounling The financl81 ststements have been epar1 In accordance wilh the charitabl8 companls goveming document. th8 Companle6 Act 2006 and 'Accounting and Reporting by Ch8rities.' Statement of Recommended Pradice applicab to chartties prepadng thelr accounts in aordance with the Financial Repoiting Slandard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019)". The aritable company is a Public Benefrt Entity as defined by FRS 102. The financlal statements a prepared in sterling, whiGh is the functional wrrency of the charitable company. Monetary amounts in these finandal ststements are rounded to the nearest £. The finarKial statem8nts have been prepared under the histor1 cost conventlon. The principal SOunting lic aAopted ar8 set out below. (b) Golng Concern At the time of approving the financk81 statements. the Trustees have a reasonable expectation that the charitable company has adequ8te reSoUS to Cntinue in 0ratrOn818Xl5ten for the foreseeable future. Thus the Trustees wntinue to adopt the goiThJ concem tosis of acUntIng in preparing the financial statements. Ic) Incoming Resources All incoming resources are included In the SOFA when the Charity is legally entitled lo the Income and the amount can be quantified wth reasonable accuracy for legacies. Entitlement k8 the eadier of the charity beiNJ notrfth of an impending distribution or the kgacy being r1ved. Id) Resources Expended Resources exFEnded are recognised in the perlod in which they are incuThed. Resources expended include attributable VAT which cannot be recovered. Resources expended are allocated to the particular activity where the costs relate direclty to that actNty. However, expense$ such a8 rent or rates arKI energy are apportioned as to llwr space. Administration costs are split equally. Ie) Tangible Fixed Assets and Depreclatlon Tangible fixed assets are capit81ised and incfuded at cost including any AIdental costs of acquisrtion. Depreciation is provided at rates rAlculated to wrSte off the cost of each asset over it5 exFWted useful IKe at the following r8te". Fumtiure and Equipment 10 year5. lfj Unr•strlcted and Deslgnatod Funds Unrestricted Funds ara donations and other incoming resources receivable or generated forthe objects ofthe Charlty wlthout further Sified purwses and are available a8 general fundg. DesiJnaled funds have tsen set aside by tnjstees for a SFeufic purpose. 15
CLEVELAND SCIENTIFIC INSTrrimoN NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 (fj Investmonts All Inveslmenls are stated at market value. Th8 SOFA includes the net gains losses arising on revaluallons arKi dlsposals thrOut thè year. Total re50ufG95 expgnded Basls of Allocation Charitable Activilies Governan¢o Costs 2024 2023 Grants pai Direct Awards Direct Insuran Direct Administration Direct Meeting Costs Direct Webstte Costs Direct Mlscellaneous Costs Direct Accountancy Direct Commission & charges Direct SFonsorship Direct 23092 23092 12150 2800 1395 2013 1170 343 13 760 (352} 1411 3318 1411 3318 13 13 896 3970 3970 Totsl Rosourcos Exp8nded 31804 32700 20292 All of the above eynditure is in SpeCt of unrestricted funds in both periods. Not incoming rosources fortho year 2024 2023 This is stated after charging: Independent Examinerfs remuneration 760 No emolumènts or reimbursed 8XP8ns8s were pahj to members or trustees ofthe management committee. Taxaticn The charStable company Is exempt from corp)ration tax on its charitable a(*vitE$. 16
CLEVELAND SCIEpifiFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 Tangibh fixed assets Furniturn & Equipment Cost Al 1 st July 2023 and 30th June 2024 275 Depr•clation At 1st July 2023 and 301h June 2024 (275) Net book value At 30th June 2023 and 30th June 2024 There were no pItal commllments al 30th June 2024 {2023 - £NII}. Investrnents 2024 2023 RMayne Dlscrètionary funds:. At 30th June 2023 Purchased during the year Sale of Investments during the year Gainl{Loss) Realised during the year (Decr8a5eylncrease in investmènts from thang8 in value 301450 327916 18879 (20551 > 1672 (26466) 1510 At 30th June 2024 302960 301450 R•dmayn• Ex•cutlon funds:. At 30th June 2023 Purch888d during the year Sale of Investments during the year Gain Realised during the year {Decreaseylncrease in investments from change in value 23814 413641 404093 At 30th June 2024 437455 413641 Cash for Investment 16305 769 Total Value of Inveslments at 30th June 2024 756720 715861 Historical c08t of inve8tmants at 30th Junè 2024 707094 691558 17
CLEVELAND SCIENTIFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 Creditors: amounts falling due within one year 2024 2023 Sundry Credito Accru8ts 1760 3944 1760 Movement in fvnd8- current y8ar At 1st July 2023 Incomlng R•sources Outgoing Resources Revaluatlons At 30th June 2024 General fvndg Designal fvnd$ 73fy)35 30411 132700> 25191 133 752591 31489 Unrestricted funds 760446 31010 132700) 25324 784080 Movomant In funds- prlor year At 1st July Incoming 2022 R•sourc•s Outgoing Resources R•valuati¢>ns At 30th June 2023 General fulS DeSnated funds 7278 35814 31218 945 (188921 (14001 111%91 {49481 730035 30411 General funds 765492 32163 {20292) {16917) 760466 The designated fund Ss represented by the Afred ClaytonTrHIII Awards fund, held separately from our other funds. This fund MprISeS a bank a¢¢ount and an investment furKI. Further details on the purpose of this fund are detailed on page 7. Analysls of not assats botwaon funds All funds are gener81 unrestricted funds as noted in the ba18n sheet and movement in fjjnds note. 18
CLEVELAND SCIENTIFIC INSTrruTION {A company limited by guarantoo) 103rd Roport and Financial Statements Y•ar gndod 30th June 2024 Company Reglstratlon No: 191037 Charlty Registration No: 250599
CLEVELAND SCIENTIFIC INsTUTION (A cornpany Ilmlted by guarantee) 103wd Report and Flnanclal Statements Year ended 30th June 2024 CONTENTS Report of the Management Committee 3-11 Independent Examiner's Report 12 St8tement of financial 8Ctiviiies 13 Balance sheet 14 Notes fonning part of the financi81 ststements 15-18
CLEVELAND SCIENTIFIC INSTITUTION 103DJ ANNUAL REPORT REFERENCE & ADMINISTRATIVE INFORMATION The Council has pleasure in Submlttlng its lo3 Annual Roport lo th• members of the Instilution covering ihe y•ar to 30th Jun• 2024. COUNCIL {Dlré¢tors and Trust•os) President J McGinr48 Vice President J Roul Secretary W Sulhers ROpOnt1VOg of the Member Societies Cleveland Insty'tution of Engineers S M Parker M Lewis J Roul A Klrk S Pallanl Insur8nce Instiknle ol Middlesbrough C N Heslop Instrtute of Physics A C Brobbs Institution ol Chemical Engineers A P Nc*they Instilutkln of Clyll Englneer8 S J KelleTmBn Institution of Engineering and Technol¢>ay D Young Instrtution of Mechanical Engineering T B Bradley Roy81 $iety of Chemislry J McGlnnis Teesside Unwersty N Dawood Chartered Quality Inslilule Energy Institute Inslilute of Measvrement and Control Welding Insts'tute Ex Offlclo (Past Presldentsl C How8rd A C Tlckner Appointed in A¢Idance wlh the Arb¢les of Association W Suthers
CLEVELAND SCIENTIFIC INSTITUTION 103nl ANNUAL REPORT (Contlnued) OFFICERS AND ADVISERS Honorary Treasurer W Suthers Orchard House Newton under Rosebery TS9 6QR Honorary Secretary W Suthers Orchard Houso Newton under Rosebery TS9 6QR Bankor8 Virgin Money Linthorpe R08d Middlesbrough TS1 1 RF Ind•pond•nt Examinor Graham Fllzgerald, BA FCA DChA Azets Audrt SeNices Wynyard Park House Wynyarrj Avenue, Wynyard TS22 5TB Stockbrokors Redmayne Bent18y LLP Church House, College Square. Stokesley Mlddlesbrough TS9 5DN Company Rogistration Number. 191037 Charfly R•glstratlon Nvmbor: 250599
CLEVELAND SCIENTIFIC INSThfuTION 103" ANNUAL REPORT (Contlnuod MEMBER SOCIEfiES Cl•v•lab)d Instltutlon of Engln8•rs aterkqL8 Processlng Institutè Eston Road, Grangetown, Mlddlesbrough, TS6 6US Ch•rt•red IalIty Institut• chaThry Ehange. 10 Fumival St, London EC4A 1AB En•rgy In$titu 61 Nèw Cavn(h'sh Slreet Lon<k)n,W1G 7AR Insurn In8titut• of MIddlbroUgh TIM Amen 18 Stoffidd Walk Acklam Middesbrough TS5 8RP Instliut• af Mgasur•mgnt and Control Mlke Vowell, 26 Pènland Avènue. Redcar, TS10 4HD Instt& ot PhrJl Alex Brabbs 76 Pol0nd Placè London. W1 B 1NT Inttion of Cl1 Engin• Rffl 2QB Drummond lIdIng SchcM)l of Clvil Enginètrrng and Geosdences NthThlle Une[ty Clawmont Road Nawc8Stlè un Tyne NE17RU InllUtIon of Chomi¢al Engino0rn Membership D0partftt, Daws BuildiThJ. Rugby, CV213HQ Imtltutlon of Englnawlng and Technology DavK5 Youry, 52 Rushmer8, Marton, Middlesbrough, TS8 9XL In¥tltullon ¢f M•¢hanlcal Engln••rs 28 The PopL4r5 wo1&tOn stCtOn ¢)n Tees TS22 SLY Royal Socl•ty of Chernistry MernbBf5hip D8p8rknenL Thomas Graharn House, 8ryen¢8 Park, Mirton Road, Cambridge. CB4 OWF T0•80kh UnlverBIty Tawlde Univsrsity MiddlesbroLb3h, TS1 3BA W•lding Imtitutt Don Atknnson Aurora Court, 8ar*)n Road Rlvetside Pork Middl8sbrou9h rs2 1RY Applkatlon• lor m•mb•rship of any of th• abov• Should b• mod• to th• address shown.
CLEVELAND SCIENTIFIC INSTrruTION 103° ANNUAL REPORT (Contlnuedl YEAR ENDED 30th JUNE 2024 About tho Institutlon The InSlutiOn Is registered as a Comp8ny Limited by Guarantee. In the event of the Inslllution being wound up. each member is liable to pay an amount, not exceeding £10 for up to one year after Ceasing to be a m8mber. The InstitLrtion was registered in 1923 as the Cleveland Scienttfic & Technical InstUtIon and in 1965 changed its name te the Cleveland Scientific Institution. It is govemed by Articles of Associatkjn and By.Laws adopted in 2015. Artlcles of Assoclatlon and Membershlp The Objects have recenlty been updated to reflect that the Institution currently is now largety a grant giving body in relation to encouraging people (especially young people) to take up STEM subjects as a ¢areer and also to encourage research in those subjects. Membership had been open to members of the then subscrlbing societies. It proved impossible to keep 8 check on these. so It was decided to make the Socleties themselves the members. The remainder of the new Articl&s reflect the 6tsndard ones issued ty the Charitles Commission. Obj•ctiv• of the Institution The objective of the Institution is the advancement of Science. Technology. EngSneering and M8them8tics and re18ted subjects including their application in education. industry and practice amongst the public and professionals wtthin the Tees Valley (currently defined 8S the unitary 8uthorities of Dadington. Stockton on Tees, HartleFooI, Middlesbrough and Redcar and Cleveland and surrounding areas, including Richmond and Whitbyl. The Council have considered the guid8nce contained in the Charity Commission's general guidance on publi¢ benefrt when reviewing tts aims and obiectNes in planning its future activities. The Institution is governgd by the Council. which meets regularty. The day-trTrday affairs of the Inslitutk)n are carried OLrt on tts behalf by Teesside University. Members of the Councll assist In Specif tasks and serve on various Committees which meet as required and 8s the Institution requires from time to tlme. P*)wers of Investment and Investment Policy The Council's powers of investment are laid out by the Articles of Association. These powers require it to invest the monies of the Institution not immediately required for rf(s purposes in or upon such investments, securtties or WDpety as may be thought frt. Until 2013 the CSI'S investments were all in fixed interest Government stock (gi) maturing from 2032 onwards. To safeguard the future of the finances of the Institute 8 formal investment policy was implemented from 2013 for the CSI to be able to invest in a more diverse range of inveslmenls. The aim Is to provide a growlng income stream (to combat inflatlonl whilst also trying to maintsin the current level of the capitsl base. Th8 init181 implementation of this policy was to progre8siv8ly replace some of the Govemment Stock with selected Investment Trusts. Since 2018 this policy has been further developed. inltlalty by broadening the range of selected Investment Trusts but also by delegating the reinvestment of the rernaining Government Stock to the InstitLrtion's broker, Redmayne Bentley Ilp with a broadly similar remtt for income and capf(al accumulatlon. In 2023 it was agre8d that the day-to-day management and reinvestment of all the CSI'S investments would be d8legated to Redmayne Bentley Ilp, with outcomes and perfoanCe regul8rfy reviewed by the CSI Finance Committee. The policy principles are unchanged. The full policy Is subjéct to review on an annual basis. révised and approved as necessary by resolutbon at the CSI AGM.
CLEVELAND SCIENTIFIC INSTrruTION 103" ANNUAL REPORT (Conllnued YEAR ENDED 30th June 2024 Confllcls of Inlerost Pollcy The Institution is mindlul of the need to avoid contlicts of interest and to have a wllcy to slate its Position on the matter. Particulady in view of the fact Councillors are nominated by Member Socletles, it is required that they identtfy px)ssible conflicts and go on to prevent this affecting any decision by dedaring the interest. Additionally, where decisions could result in beneffts to a councillor this must also be declared. The pol g08s on lo require that any potential or actual confllcts of Interest have to be reCded in the appropri8te minutes. Code of Conduct Policy The Institution works with affiliated societies and others to seek opportunities to advance STEM. It Is always mlndful that tts TTUStee8 act In a considerate and lawful manner. To this end it has dr8fted a policy for Its TNstees to follow. It states that the Trustees must obey the law and abide by the rules laid down by their Institutes. The Trustees should take an active part in the affairs of the CSI. attend meetlngs, and take part in debates. They should also accept majority decisions and respect confidentialty of th8 Institution, The Policy was agreed Members al the Annual General Meeting in November 2016, Revlew of the year The Institution looks for opportunrf(ies lo advance the cause of the sciences through providing places and facilities for meetings and promotions by way of supwrting lectures, exhibrtion$. and conferences especially where these are aimed at student and scholastic bodies and other organisations supporting young people. It also promotes sciences in schools by way of gr8nts and attempts to ensure that othernise disadvanlaged scholars are the target or included in the projects so supported. The Prestigious L•ctur• The 2023-34 Prestigious Lecture took place in Demb&r 2023. It was organised by the Cleveland Institutlon of Engineers, was entitled "Deep Science @ Boulby Underground Lab.. The search for Dark Matter and Beyond.. It was delivered by Prof Sean Paling, Facilty Director. Boulby Underground Laboratory. Prof Paling's thesis was.- -85•A of the mass of the unNerse appears to be missing. Evidence suggests the missing mass is likely to bè made up sub-atomic particles - in space, and all around us - and there is race on around the world to prove or disprove this theory. The search for these 'Dark Matterf particles needs to take place in deep underground Scnce laboratories. Thls talk wlll give an overvlew of life and sclence in the 1.1 km deep Boulby Underground Laboratory.. Alfred Clayton Hill and James Winship Jackson Awards The CleveLgnd Scientific Institution Alfred Clayton Hill Award 1$ presented lo an outstanding final year undergraduate student at Te8sside UnNersity, who has shown most promise and drive In finding additional STEM related skills and experience beyond th8ir academic studres, for example through voluntsry work. summer placement. extra-curricular activity. etc. In 2024 the bmnners of the ACH Prize {worth £600) was shared between L FaWtt and P Pathiyarapattie. The runners up {£50 8ach} were A Hussain, G Russell and T Nuttall. The James Winship Jackson Presidential Award is awarded to an outstaTrJing final year undergraduate student of Teesslde Unfverslty, who has completed a work placement of at least 12 vekS duration and shown additional initiative whi18 on placement. In 2024 the wlnner of the JWJ Prize (worth £600) was K Mayo. The runners up {£50 each) were K Skldmore. E Okapliba and J Brain.
CLEveLAND SCIENTIFIC INSTITUTION 103" ANNUAL REPORT (Contlnuadl YEAR ENDED 30th June 2024 Grants The application for CSI grdnts is promoted and overseen by a sub-committee of CSI. Approprlat6 projects are Identifled that meet the oblectlves of the Institution. Several projects were identified, and the followrng grants awarded'.- Grants Awardod Gr¢¢npowor Eaglescllffe School Lottle Books B•v•rl•y Schools Linnet Proj•¢t T••smouth Fi•ld Centre 4,570 4,677 1,730 5,615 4.000 2,500 Total for the yoar 23,092 It remains a constant challenge lo find worthwhile projects to maintain and develop the Instilution's profile. To this end a websrte has been set up at wvN.¢levelandscienlific.or .uk which details the Institution's fijnction. The website is currentty being iedeveloped and the Institution's offer 16 being marketed directly through fyers lo local councils, authorities and schools. No donatnS were receNed during the year.
CLEVELAND SCIENTIFIC INSTrruTION 103° ANNUAL REPORT Icontinuod) YEAR ENDED 30th June 2024 Membership The numlw of Member Societies on 30th June 2024 was 12. Membership of the Council Members of Council are nominated by the member societies. Councillors also can be elected by the Council for their expertise. During the year. Mr S Pa118nl was appointed as a director. All the rnaInIng Dlreclors were Directors for the whole of the year.
CLEVELAND SCIENTIFIC INSTITUTION 103rd ANNUAL REPORT {Contlnued) YEAR ENDED 30th Jun• 2024 Statement of Coun¢ll's Responslbllltles for Preparlng Accounts The Members of Councll (who are also Trustees and Dlrectors of the Cleveland Scientrfic Institution for the purposes of Charity and Company Law) are responsible foT preparing the Council's Report and financial statements in accordan with appli¢able18w and Unlted Kingdom Generally Attepted Accounting Practice. Company and Charity law requires the Members of Council lo prepare financial st8tements for each flnanclal year, which give a true and fair viaw of the state of affairs of the Institution and of the incoming resources and application of the same, Includlng Income and expendlture. of the Instltutlon for that period. In preparing those financial statements the Members of Council are requir8d to.. select suitabl8 accounting polici8s and then appty them consistently" observe the methods and principles in the Chartties SORP.. make judgements and estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the fi'nancial statements on the going conrn basis unless it is inappropriate to assume that the In5tilulion will continue in operation. The Member8 of the Council arg r8sFy)nsibl8 for k88ping proper awunting record8 that dlsclose with reasonable accur8cy at any time the financial position of the InstitLrtion and enable them lo ensure that the financial stalements compty with the Companies Act 2006. They are 8180 responsible for safeguarding the assets of the Institution and hence for taking reasonable steps for the prevention of fraud and other Irregularities. The present level of fundlng 1$ adequate to support the cx)ntlnuatlon of the operatlon of the Institution for the medium temi and the Council considers the financial position of the Institution to be $ati$fa¢tory. 10
CLEVELAND 8¢IENThC INSTITimoN 193" ANNUAL REPORT (conlindI InrJ)me forthe yearwas £31.010 P023.' £32,1e3) aB Of YthTth w8s ffDm I•- lttiefesl Irc GovMent SerAjrd$ 8nd Sh&re EVndre for1 year l<ued £32.700 (20fJ: £2029a, indtKllrwJ Grants Q3.092 (2023.. £12.15u) ar#2 Proos £1500 (2023." £2.8W. The valJe olthe InsiitLttsn¥ hLYeased the year kn 41ne wtsh tharvJes In Ihe Ff1QJ The inNtSThntywere led 91 £756.720 (2023: £715.9S1). The bond whK represents tho AW CtsylDTr HI.. Awa1 fvnd. das$ as mediLtThteiw¢ Stock, so our IMDktrn ptan to Iwmlatt am fhe fyTh15 wben apwDwiat¢. The ioMI ol ass•s ¢ £784.080 (2D23' £7eO,448). During the finanraal year SXfOshiP ol all was dFJk94ted to the Instit4thft's brok•r. Redrnayne bertky. Representa15 ol tho i Ihe gutse ofthe Fiiarte al Comrrdttee. have Sel lor the bryjkcr which aim lo milnlakn Ihe 18 of ts 4ivsbmertS wr1 5ufve inwne io SUP[rt thè InsItt'S adl¥kn and tlw grnrts mèpA the ¢lw#ab The Alfre(I clayrt AwAld Fuik1S af• eons01il¥led th these a¢xJ)unb to CA)mpty TNlh Commbslon r•qutremert%. Separ• aCt4niS a¢• provKied tormaFwerneThl The Insi110n.$ aeL¢)unts ale nol audlad but •n lthpth1ent has ljecn Io rympty with Ihe Ctsrty coffth1rt.$ rtquirèmènls. Alfmd C#ylOQ +ffjI AWf¢d Cl8ytoft Hll AWA is by the lern ofthe of the late Mf S¥r Hll v41i•d by Ine Chorliès Comwion tn 1992 and [5 th th¢ glft of the Pres]d¢N olthè In&ituliOrt. ALnoThkdgHnen The Council atso thanks those PAwTknJrs ofthe coun who gefipry)u5ty of li ¥arf0,,l¥tl (opecAe5. OTr whith it 15 p)ssts to put a Vdltte. In addaioth. the Coun91 the rMrxthn by Jur SheJn in her Lpa( ds Adm#1•1 Sècrelwy srA1 the honornry offiw Rert has been prepared in a¢an(% wlh the spcial m%lofts in Port Ispf the Cw)enies Aa. 21)06. r sfflall &ties.
INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF CLEVELAND SCIENTIFIC INSTITUTION l K)rt to the Trustee$ on my examination of th8 financial statements of Cleveland Scientrfi¢ Institutlon (the charitable company) for the year ended 30 June 2024. Responslbllllles and basls of roport As the Trustees of the charitab18 company land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with Ihe requirements of ihe Companies Aci 2(K)6 {Ihe 2006 Act). H8vlng satlsfied myself that the flnancial statemènts of the charitable company are not required to be audiied under Part 16 of the 2006 Act and are 81igible for independent examination, I r6POrt in respe¢l of my examination of the charitable company's financial statements ¢arried out under section 145 of the Charftles Act 2011 (the 2011 AGt). In carying out my examination I have followed all the applicab Directions given by the Charty Commission under section 14515)(bl of the 2011 Act. Indèpendènt Examiner's statement I have completed my examination. I confirm that no matters have )rne to my attention in connecllon wth the examination giving me cause to believe that in any material reswL accounting records were not kept in respeci of the charllable company as requlred by section 386 of the 2006 Art or 2. the financial statements do not accord with those records. or 3. the financial statements do not comply with the accounling requlrements of sectM)n 396 of the 20LK Act other than any requir8m8nt that the accounts give 8 true and fair view which is not a matter considered as part of an independent examination.. or 4. the financial statements have not been prepared in accordance wtlh the methods and prlnaples of the Statement of Recommended Practice for 8ccountlng and reporting by charities applicable to charities preparing their accounts in accordance with the Financial ReF)Orting Stsndard applicab18 in th8 UK and Republic of Ir6land (FRS 102>. I have no concems and have come across no other matters In connectlon with the examination to which attention should be drawn in this r8POrt in order to enable a proper understsnding of the financial slalements to be 'reached. rgJ i?117170 Graham Fitzgerald BA FCA DChA Wynyard Parf( Hous• Wynyard Avgnu• Wynyard TS22 5TB Azets Audh Sgrvlces 12
CLEVELAND SCIENTIFIC INSTrruTION STATEMEPIt OF FINANCIAL ACTIVITIES (Includlng In¢om• and Expondlture Account) YEAR ENDING 30th JUNE 2024 Notes Unrestriod Unrestricted Funds Funds 2024 2023 INCOMING RESOURCES FROM GENERATED FUNDS Inveslmonl Incom• Retums on investment 31010 32163 TOTAL INCOMING RESOURCES 31010 32163 RESOURCES EXPENDED Costs of gen•ratlng funds Charltable adlvltles Dlrect Expenditure In the fvrther8n¢e of the charity'8 objects 31804 19532 Governance costs 896 760 TOTAL RESOURCES EXPENDED 32700 20292 NET INCOMING RESOURCES 11690) 11871 Profrtl(Lossl on Sale of Investments ProfiV{Lossl on revaluation of investments 25324 116917) NEf MOVEMENT IN FUNDS 23634 {5046) Totsl funds at 1st July 2023 brought forward 760446 765492 Total funds at 30th June 2024 c8rrled forward 784080 760446 The Statement of Financial Activities includes all gains and losses recognised in the year. AH irming resources and resources expended derlve from continuing activtiie5. The notes on pages 15 to 18 form part ofthese statements. 13
CLEVELAND SCIENTIFIC INSTrruTION BALANCE SHEEr AS AT 30th JUNE 2024 2024 2023 Fi1 a88•ts Tanglble as88ts Inv88trnents 756720 71SJ81 756720 715861 Curr•nt a•••ts Cash at bank and in hand 31304 Credltorn: amount• falling du• vthhin on• yMr (3944) (1760) N•t curront a8s•ts 27380 G•reral 760448 The compgny 18 •nliUed to the exemption from 8udit re¢¥Ar&nent eertained In Walc 477 of th8 Companie8 Act 2006, forth8 year ended 30 th 2024. The dlrector8 ackn(wA th•ir responsibililies for complyirvj wth ts requremort8 of h Companles Aca 2( with r•sixct to a¢wJntiTrJ raconls arKI ts WeparatI of finanlial statnent& The Memb hav8 not requlred the <x)mP b obtaln an audit of Sts flnan¢lo18tatom for the year in qu88tion in accordanc Yath *#ion 47& The8e fin8nd818tatements have wepsred in accord8nca with wovistons aFWi¢able to (xYnwl8S 8u¥ecl to the 8mall rAimpgnies' rogrn. IE- 20Z Compary rngistraion number 191037 14
CLEVELAND SCIENTIFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30th JUNE 2024 Accounting pollcles (a) Basls of A¢¢ounling The financl81 ststements have been epar1 In accordance wilh the charitabl8 companls goveming document. th8 Companle6 Act 2006 and 'Accounting and Reporting by Ch8rities.' Statement of Recommended Pradice applicab to chartties prepadng thelr accounts in aordance with the Financial Repoiting Slandard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019)". The aritable company is a Public Benefrt Entity as defined by FRS 102. The financlal statements a prepared in sterling, whiGh is the functional wrrency of the charitable company. Monetary amounts in these finandal ststements are rounded to the nearest £. The finarKial statem8nts have been prepared under the histor1 cost conventlon. The principal SOunting lic aAopted ar8 set out below. (b) Golng Concern At the time of approving the financk81 statements. the Trustees have a reasonable expectation that the charitable company has adequ8te reSoUS to Cntinue in 0ratrOn818Xl5ten for the foreseeable future. Thus the Trustees wntinue to adopt the goiThJ concem tosis of acUntIng in preparing the financial statements. Ic) Incoming Resources All incoming resources are included In the SOFA when the Charity is legally entitled lo the Income and the amount can be quantified wth reasonable accuracy for legacies. Entitlement k8 the eadier of the charity beiNJ notrfth of an impending distribution or the kgacy being r1ved. Id) Resources Expended Resources exFEnded are recognised in the perlod in which they are incuThed. Resources expended include attributable VAT which cannot be recovered. Resources expended are allocated to the particular activity where the costs relate direclty to that actNty. However, expense$ such a8 rent or rates arKI energy are apportioned as to llwr space. Administration costs are split equally. Ie) Tangible Fixed Assets and Depreclatlon Tangible fixed assets are capit81ised and incfuded at cost including any AIdental costs of acquisrtion. Depreciation is provided at rates rAlculated to wrSte off the cost of each asset over it5 exFWted useful IKe at the following r8te". Fumtiure and Equipment 10 year5. lfj Unr•strlcted and Deslgnatod Funds Unrestricted Funds ara donations and other incoming resources receivable or generated forthe objects ofthe Charlty wlthout further Sified purwses and are available a8 general fundg. DesiJnaled funds have tsen set aside by tnjstees for a SFeufic purpose. 15
CLEVELAND SCIENTIFIC INSTrrimoN NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 (fj Investmonts All Inveslmenls are stated at market value. Th8 SOFA includes the net gains losses arising on revaluallons arKi dlsposals thrOut thè year. Total re50ufG95 expgnded Basls of Allocation Charitable Activilies Governan¢o Costs 2024 2023 Grants pai Direct Awards Direct Insuran Direct Administration Direct Meeting Costs Direct Webstte Costs Direct Mlscellaneous Costs Direct Accountancy Direct Commission & charges Direct SFonsorship Direct 23092 23092 12150 2800 1395 2013 1170 343 13 760 (352} 1411 3318 1411 3318 13 13 896 3970 3970 Totsl Rosourcos Exp8nded 31804 32700 20292 All of the above eynditure is in SpeCt of unrestricted funds in both periods. Not incoming rosources fortho year 2024 2023 This is stated after charging: Independent Examinerfs remuneration 760 No emolumènts or reimbursed 8XP8ns8s were pahj to members or trustees ofthe management committee. Taxaticn The charStable company Is exempt from corp)ration tax on its charitable a(*vitE$. 16
CLEVELAND SCIEpifiFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 Tangibh fixed assets Furniturn & Equipment Cost Al 1 st July 2023 and 30th June 2024 275 Depr•clation At 1st July 2023 and 301h June 2024 (275) Net book value At 30th June 2023 and 30th June 2024 There were no pItal commllments al 30th June 2024 {2023 - £NII}. Investrnents 2024 2023 RMayne Dlscrètionary funds:. At 30th June 2023 Purchased during the year Sale of Investments during the year Gainl{Loss) Realised during the year (Decr8a5eylncrease in investmènts from thang8 in value 301450 327916 18879 (20551 > 1672 (26466) 1510 At 30th June 2024 302960 301450 R•dmayn• Ex•cutlon funds:. At 30th June 2023 Purch888d during the year Sale of Investments during the year Gain Realised during the year {Decreaseylncrease in investments from change in value 23814 413641 404093 At 30th June 2024 437455 413641 Cash for Investment 16305 769 Total Value of Inveslments at 30th June 2024 756720 715861 Historical c08t of inve8tmants at 30th Junè 2024 707094 691558 17
CLEVELAND SCIENTIFIC INSTITUTION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th JUNE 2024 Creditors: amounts falling due within one year 2024 2023 Sundry Credito Accru8ts 1760 3944 1760 Movement in fvnd8- current y8ar At 1st July 2023 Incomlng R•sources Outgoing Resources Revaluatlons At 30th June 2024 General fvndg Designal fvnd$ 73fy)35 30411 132700> 25191 133 752591 31489 Unrestricted funds 760446 31010 132700) 25324 784080 Movomant In funds- prlor year At 1st July Incoming 2022 R•sourc•s Outgoing Resources R•valuati¢>ns At 30th June 2023 General fulS DeSnated funds 7278 35814 31218 945 (188921 (14001 111%91 {49481 730035 30411 General funds 765492 32163 {20292) {16917) 760466 The designated fund Ss represented by the Afred ClaytonTrHIII Awards fund, held separately from our other funds. This fund MprISeS a bank a¢¢ount and an investment furKI. Further details on the purpose of this fund are detailed on page 7. Analysls of not assats botwaon funds All funds are gener81 unrestricted funds as noted in the ba18n sheet and movement in fjjnds note. 18