2020-12-31-accounts

		Page
Reference and Administrative Details
Trustees' Report	2	to	7
Independent Examiner's Report
Statement ofFinancial Activities
Balance Sheet	10	to	11
Notes to the Financial Statements	12	to	20
Detailed Statement ofFinancial Activities	21	to	22

TRUSTEES	Mr M SJCarr-West
	Mr SC Constable
	Mr H G Crabtree
	Mr KFP Franklin
	Mr PFHemingway
	Mr GP Higginson
	ProfM G Kibblewhite
	Mr RJMerrall
	Dr M RMoore
	Mr A CNewbold
	ProfRJRickson
PRESIDENT	Mr PFHemingway
COMPANY SECRETARY	Mr C DNicklin
REGISTERED OFFICE	The Bullock Building		(Bldg 53)
	University Way
	CRANF IELD
	Bedfordshire
	MK43 OGH
REGISTERED COMPANY	00648041 (England	and Wales)
NUMBER
REGISTERED CHARITY	257303
NUMBER
INDEPENDENT EXAMINER	Landers Accountants		Ltd
	Church View Chambers
	38Market Square
	Toddington
	Bedfordshire
	LU5 6BS
BANKERS	HSBC
	12Allhallows
	Bedford
	Bedford shire
	MK40 1LJ
INVESTMENT MANAGER	Investec
	30Gresham Street
	London
	EC2 7QP

	FORTHE YE	AR ENDED 31DECE	MBER2020
			31.12.20	31.12.19
			Unrestricted	Total
		Notes	funds f	funds
INCOME AND ENDOWMENTS FROM
Donations and legacies			43	175
Charitable activities
Members' subscriptions	and fees		138,467	159,345
Publications			194,433	237,274
Projects				14,013
Technical accreditation	scheme			4,176
Conferences				3,196
Investment income Other income			22,818 ~812	30396 583
Total			364,273	449,058
EXPENDITURE ON
Raising funds Investment management	costs		~406	6906
			4,506	6,906
Charitable activities
Members' subscriptions	and fees		248850	234,586
Publications			80,100	67,715
Governance			28,867	25,941
Conferences			3,885
Total			365,708	335,148
Net gains on investments			20270	10069
NET INCOME			26,840	123,979
Other recognised gains/(losses)
Gains/(losses) on revaluation offixed assets			(30,444)	46,308
Net movement in funds			(39604)	170,287
RECONCILIATION	OFFUNDS
Total funds brought forward			~2229 49	1 0591162
TOTAL FUNDS CARRIED FORWARD			1225 745	1,229,349

		BALANCE SHEET 31DECEMBER 2020
			31.12.20	31.12.19
			Unrestricted	Total
			funds	funds
		Notes
FIXEDASSETS
Tangible assets		10	2,990	4,114
Investments		11	730294	758,253
			741,284	762,367
CURRENT ASSETS
Stocks		12	3,760	3,760
Debtors		13	195,606	183,113
Investments		14	140,039	158,077
Cash at bank and in hand			192078	170658
			532,283	515,608
CREDITORS
Amounts falling due within one year		15	(47,822)	(48,626)
NET CURRENT ASSETS			404 461	466 982
TOTAL ASSETSLESSCURRENT
LIABILITIES			1,225,745	1,229,349
NET ASSETS			~125745	~129349
FUNDS		17
Unrestricted funds:
General fund			646,598	558,510
Designated building	fund		440,000	420,000
Revaluation fund			139,147	250 839
			1,225,745	1,229,349
TOTAL FUNDS			1225745	1229349

				31.12.20	31.12.19
Income	from	managed	funds	~22 818	~30 296

INVEST	MENT MANAGEMENT COSTS
		31.12.20 f	31.12.19
Portfolio	management	4,506	6,906

			31.12.20 f	31.12.19
Auditors'	remuneration		2,500	2,370
Depreciation - owned		assets	2310	1,806
Auditors'	remuneration	for non audit work	~5433	~7228

				2020	2019
Wages and salaries Social security costs Employer's contribution Subcontracted finance	to defined contribution pension schemes and administrative support			113,279 7,990 3,997 30050	109,821 7,925 3,555 ill 944
				~155 46	140243

		~1	55 46	140243
The average monthly	number ofemployees	during the year was as follows:
			31.12.20	31.12.19
Senior management			I	1
Administrative			2	2
			3

TANGIBLE FIXEDASSETS
	Fixtures
	and	Coinputer
	fittings	equipment	Totals
COST
At I January 2020	3,110	30,177	33,287
Additions		1,186	1,186
Disposals Reclassification	(1,158) 377	(22,953) ~377	(24,111)
At 31December 2020	2,329	8,033	~10 62
DEPRECIATION
At 1January 2020	3,110	26,063	29,173
Charge for year	95	2,215	2@10
Eliminated on disposal Reclassification/transfer	(1,158) 94	(22,953) ~94)	(24,111)
At 31December 2020	~2141	~5231	~7372
NET BOOKVALUE
At 31 December 2020	188	2,802	~2990
At 31 December 2019		4,114	~4114

FIXEDASSETINVESTMENTS
	Unlisted
	investments
	I
MARKET VALUE
At 1 January 2020	758,253
Additions	139,792
Disposals	(122,191)
Revaluations	(30,444)
Realised gain, reinvested	28,275
Transfer to current asset investment	~35391
At 31December 2020	~738294
NET BOOKVALUE
At 31December 2020	~738 294
At 31 December 2019	758,253

	Inside UK	Outside UK	2020f	2019
Pmperties	232,032		232,032	231,649
Unit trusts	179,797	175,716	355,513	352,997
Fixed interest securities	86,797		86,797	85,366
Cash	20,000		20,000	55,526
Other investments	43,925		43 952	32 715
			730294	755253

DEBTORS:	AMOUNTS FALLING DUE WITHIN	ONE YEAR
		3L12.20 f	31.12.19
Trade debtors		2,858
VAT		11,224	1,489
Prepayments	and accrued income	~181524	181624
		195,606	183,113

CURRE	NT ASSETINVESTMENTS
		31.12.20	31.12.19
Unlisted	investments	140,039	158077

CREDITORS: AMOUNTS FALLING DUE WIT	HIN ONE YEAR
	31.12.20	31.12.19
Trade creditors	10,767	4,538
Social security and other taxes	3,590	3377
Other creditors	37$	822
Accruals and deferred income	~330$7	~39 889
	~47 $22	~48 626

MOVEMEN	T IN	FUNDS
				Net	Transfers
				movement	between	At
			At 1.1.20	in funds	funds	31.12.20
Unrestricted	funds
General fund			558,510	(3,604)	91,692	646,598
Designated building Revaluation fund		fund	420,000 250039		20,000 ~tt2 692)	440,000 139147
			1,229349	~3604)		1,225,745
TOTAL FUNDS			~)329 49	~3,604)		1225745

		Incoming	Resources	Gains aud	Movement
		resources	expended	losses	in funds
Unrestricted	funds
General fund		364,273	(365,708)	(2,169)	(3,604)
TOTAL FUNDS		~364 273	~65 708)	~2,169	~3604

					Net	Transfers
					movement	between	At
				At 1.1.19	in funds	funds	31.12.19
					f.
Unrestricted		funds
General fund				453,196	170,287	(64,973)	558,510
Designated	building		fund	400,000		20,000	420,000
Revaluadon Designated	fund memorial		fund	201,368 44911		49,471 ~4498)	250,839
				1,059,062	170287		1,229349
TOTAL FUNDS				1059062	~170 87	.	1229349

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		6
Unrestricted	funds
General fund		449,058	(335,148)	56,377	170,287
TOTAL FUNDS		449,058	~335,148	~56 377	~170287

THE INSTITUTION OFAGRICULTURAL ENGINEERS	THE INSTITUTION OFAGRICULTURAL ENGINEERS
DETAILED STATEMENT OFFINANCIAL ACTIVITIES
	FORTHEYEARENDED 31DECEMBER2020
		31.12.20	31.12.19
INCOME AND ENDOWMENTS
Donations and legacies
Donations		43	175
Investment income
Income from managed funds		22,818	30,296
Charitable activities
Subscriptions and fees Publications projects Technician Accreditation scheme Conference		138,467 194,433	159,345 237,274 14,013 4,176 ~3196
		332,900	418,004
Other income
Other income		~8512	583
Total incoming resources		364&273	449,058
EXPENDITURE
Investment management costs
Portfolio management		4,506	6,906
Charitable activities
Staffcosts Accommodation and premises costs OAice/stationery costs Computer costs and support Conference costs Costs associated with publications Meetings and travel costs Project delivery expenses Public relations and recruitment SubscripSons to other organisations Services to members Merchandise		141,477 6,167 5,085 10,455 3,885 126,952 1,264 2,843 23,605 1,120	126,892 11,017 7,107 8,488 101,681 10,849 2,390 2,409 19,938 1,120 15
Prizes and awards Irrecoverable VAT Cerned forward		1,968 2,456 327r277	2,238 2,508 296,652

DETAILED STATEMENT OFFINANCIAL ACTIVITIES	DETAILED STATEMENT OFFINANCIAL ACTIVITIES
	FORTBEYEARENDED 31DECEMBER 2020
		31.12.20	31.12.19
Charitable activities
Brought forward Depreciation oftangible fixed Bank charges	assets	327&277 1,847 3&211	296,652 1,445 ~4204
		332,335	302,301
Support costs
Governance costs
Staffcosts Auditors' remuneration Accommodation and premises	costs	13,869 2,500 325	10,873 2,370 268
Postage and stationery Computer costs and support Accountancy and legal fees Meetings and travel costs Trustee indemnity insurance		693 2,614 6,388 1,109 360	1,254 7,228 3,312 360
Gifts Depreciation oftangible fixed	assets	547 462	276
		~28 67	25,941
Total resources expended		365,708	335,148
Net (expenditure)/income before gains
and losses		(1&435)	113,910
Realised recognised gains and	losses
Realised gains/(losses) on fixed	asset
investments		28,275	10,069
Net income		~26 840	123,979