##
||Page|
|---|---|
|Reportofthe Trustees|1 to29|
|Reportofthe Independent Auditors|30to32|
|StatementofFinancial Activities|33|
|StatementofFinancial Position|34to35|
|: StatementofCash Flows|36|
|' NotestotheStatementofCash Flows|37|
|NotestotheFinancial Statements|38to48|
|Detailed StatementofFinancial Activities|49to50|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|A full listing of the proposed virtual and physical eventsisinthe table below.||
|---|---|
|Event
Date
Venue||
|Reliabiltty of NDTwebinarand
24thJanuary,2021
Virtual Webinar
virtual burns supper evening-·---------·-------------|j|
|tAerospace Workshop_____~~~~~~~~--021~=-=-~~~~~~~Webinar--~===-~~=J.||
|Aerospace Event
21"- 22"' April,2021
Virtual Webinar||
|f
Aerosp~~~Eve~~Exhi~itio~~-=--~"~pr~,-202~-~~=~-illrt~alW~blnar-~-~~:~=-_l||
|CMConference
14th-18"' June2021
Virtual Webinar||
|fCMExhibition -
- -
· ·
14th.16thJurie2021
Virtual Webinar
I||
|**L__.**---- -------------------··------~- ·-----.........·-·-----~----~----J
NOTConference
6th. 1O"'September
Virtual Webinar||
|2021||
|~~~2021Exiiiblilon--
_______~~~-B"':~~~ber2021__~irtu~IW~bi:__-~-=-=-J||
|Marine Composites Inspection
131h-141h October2021
RoyalNational Lifeboat Institution||
|Workshop: 'Sea' whatyouare
(RNLI), Poole
missing ...
;Viforkshop onsfructural integrity;-1S"'-20"' October2021
MTG,Coventry
J
INOTandCMrequirements for||
|: Industry 4.0
~
----------------·-- --------------------·
BINDT/RCNDE/CIRIA Workshop
November2021
VenueTBC||
|onNOTRequirements forRoad
Exact dateTBC||
|andRailCivil Structures||
##
##
##
##
##
|The current Institute awards are as below:|The current Institute awards are as below:|The current Institute awards are as below:|
|---|---|---|
|}r**.**,.·,<·'·\>.·,;<,<';:f'**,**,
_}-;;_
.;.;.-~.....-.·
",
,.,,_
.,-,".>
_,:J_
I Award>'·
;'~;,,,;:;,f~~l'Pur'pose>J
,,··•.•··
}';.~}]';1,:~~.····~···
·<::·::}-'.··(;;,,~,,.f">·.:;,';,·.\_/;''-_ "•.''
-~~{.<.y•'1,",;.,l
',
·,/->-,-;,if___'··,.;'.'~-·:':_'._:
.-~'i,_,.,;c;,
..·.|||
|LifetimeAchievement|Torecognise the valuable and extensive contribution to the British||
|Award|InstituteofNDT and the wider NDTICM community byanindividual who||
||has spent most of his/her careerinNDT/CM and who has been an||
||active memberofthe Institute foranextensive periodoftime,||
|PersonalContribution|To recognise a valuable and extensive personal contribution to the||
|.Award|British InstituteofNDT and the wider NDT/CM community byan||
||individual who has been an active member of the Institute foran||
||extensive period of time, in which they have contributed and influenced||
||the wellbeingofthe Institute.||
|TheRoySharpe Prize|fora significant contribution through research and developmentinany||
||branch of NDT to the benefitofindustry or society.||
|TheAnneBirtAward|For a significant contribution to technology innovation, technology||
||transfer or technology strategy in the fieldofNDT,||
|The NemetAward|Foranoutstanding contribution to the practiceofNDT (byanindividual).||
|The HughMaccoll|For a distinguished contribution by an individual to the teaching or||
|Award|training of NDT or CM. Nomination required, This should show the||
||contribution to the teachingortrainingofNDTorCM,||
|AerospaceAward|To recognise significant contributions to the NDT/CM community within||
||the aerospace sector.||
|TheJohnGrimwade|For the best paper publishedinBINDT's NDT Journal 'Insight'inthe||
|Medal|preceding year.||
|TheRonHalmshaw|For the best paperonradiography publishedinInsightinthe preceding||
|Award|year.||
|TheBINDTAnnual|An informal award presented at the endofthe NDT Annual Conference||
|NOT Conference Paper|for the best paper publishedinthe conference Proceedings.||
|Award|||
|TheWilliamGardner|For the best paperinthe Proceedingsofthe NDT Annual Conference||
|Award|by a studentorpersoninthe early stages (first five years)oftheir||
||career.||
|PractitionerAward|To recognise outstanding achievementinthe learning, sharing or||
|'|execution of NDTorCM practice by a SINDT member.||
|TheTonvLagerAward|For meritorious service toanInstitute Branch by an individuaL||
|Branch ServiceAward|Foranoutstanding contribution to Branches.||
|TheTHColeAward|For the Institute Branch with the best percentage increasein||
||membership during the preceding year.||
##
##
|TheJimCottierTravel|Toaidtheprofessional developmentofayoungSINDTmemberby|
|---|---|
|Scholarship|attending an overseas conference.|
|AnnualNOT|To encourage attendance at the SINDT Annual Conferencesby|
|Conference Travel and|contributors from foreign nations.|
|Attendance Award_I_||
|AnnualCM||
|Conference Travel and||
|Attendance Award||
|!One oer conference)||
|The COMADIT Prize|For a significant contribution through research and developmentinany|
||branchofcondition monitoring to the benefitofindustry or society.|
|CMInnovation Award|For a significant contribution to technology innovation, technology|
||transfer or technology strategyinthe field of CM.|
|The Len Gelman|For the best paperinthe ProceedingsoftheCMAnnual Conferenceby|
|Award|a student or oersoninthe earlv staaes lfirst five vearsloftheir career.|
|The Roger Lyon|Inrecognitionofthe outstanding achievement of a NOT Apprentice who|
|Apprenticeofthe Year|has successfully completed their end-point assessment through SINDT.|
|Award||
|The Gail Long Early|To recognise the contribution to NOT/CM or the wider engineering|
|Career Women|communityofwomenintheir early career.|
|Engineerofthe Year||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||(£)|
|---|---|
|QpeningvalueofCfient1?9ti(otio|521,415.85|
|Cashpaidin|0.00|
|Cashpaidout|0_00|
|Transfers in ond/orout(re-registration)|o_oo|
|Changeinvalue ofassets------
Interest|25,108.32
------
11.01|
|DividendsandIncomeDistribution|o_oo|
|Platform Charges
Product Providercharges---
Financial Adviser Charges
-
- -
- .
Olher charges
Grossrateorretum (annualised figures)
-···-·--
.,.,_..-··----·---·- - j-|-1,765_55
o_oo
-5,045.67
0.00
539,723.96
3.51% (3.50%)
4.85% (4.84%)|
##
##
##
##
##
##
##
##
##
##
|**Year**|**Liquid Assets Projection**(£)|
|---|---|
|2021|836,418|
|2022|875,725|
|2023|900, 104|
|2024|851,721|
|2025|850,645|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||2020|2019|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|
£|£|£|£|
|**INCOME AND ENDOWMENTS FROM**||||||
|**Charitable activities**|3|||||
|Membership and registration||245,296||245,296|244,167|
|Certification||1,784,467||1,784,467|2,131,414|
|Publishing and marketing||94,244||94,244|121,939|
|Conferences and events||11,907||11,907|287,700|
|Investment income|2|54,490||54,490|58,793|
|**Total**||2,190,404||2,190,404|2,844,013|
|**EXPENDITURE ON**||||||
|Raising funds|4|6,824||6,824|6,809|
|**Charitable activities**|5|||||
|Membership and registration||211,339|900|212,239|211,308|
|Certification||1,486,280||1,486,280|1,641,427|
|Publishing and marketing||499,920||499,920|544,811|
|Conferences and events||90,956||90,956|360,046|
|European&international affairs||9,619||9,619|37,687|
|**Total**||2,304,938|900|2,305,838|2,802,088|
|Net gains on investments||29,422||29,422|55,509|
|**NET INCOME/(EXPENDITURE)**||(85,112)|(900)|(86,012)|97,434|
|**RECONCILIATION OF FUNDS**||||||
|**Total funds brought forward**||3,151,037|12,793|3,163,830|3,066,396|
|**TOTAL FUNDS CARRIED FORWARD**||3,065,925|11,893|3,077,818|3,163,830|
##
|||||2020|2019|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Notes|
£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|11|1,769,332||1,769,332|1,842,513|
|Investments|12|546,952||546,952|518,486|
|||2,316,284||2,316,284|2,360,999|
|**CURRENT ASSETS**||||||
|Stocks|13|49,794||49,794|49,844|
|Debtors|14|391,580||391,580|482,543|
|Cash at bank andinhand||647,282|11,893|659,175|618,313|
|||1,088,656|11,893|1,100,549|1,150,700|
|**CREDITORS**||||||
|Amounts falling due within one year|15|(339,015)||(339,015)|(347,869)|
|**NET CURRENT ASSETS**||749,641|11,893|761,534|802,831|
|**TOTAL ASSETS LESS CURRENT**||||||
|**LIABILITIES**||3,065,925|11,893|3,077,818|3,163,830|
|**NET ASSETS**||3,065,925|11,893|3,077,818|3,163,830|
|**FUNDS**|17|||||
|Unrestricted funds||||3,065,925|3,151,037|
|Restricted funds||||11,893|12,793|
|**TOTAL FUNDS**||||3,077,818|3,163,830|
##
|||2020|2020|2019|
|---|---|---|---|---|
||Notes|£||£|
|Cashflowsfromoperating activities|||||
|Cash generated from operations|1|74,006||162,562|
|Net cash providedbyoperating activities||74,006||162,562|
|Cash flows from investing activities|||||
|Purchase of tangible fixed assets||(34,|108)|(56,348)|
|Purchase of fixed asset investments||||(471,226)|
|Sale of fixed asset investments|||956|471,289|
|Interest received|||8|93|
|Dividends received||||2,494|
|Netcashusedininvesting activities||(33,|144)|(53,698)|
|Change in cash and cash equivalents|||||
|in the reporting period||40,862||108,864|
|Cash and cash equivalentsatthe|||||
|beginningofthe reporting period||618,313||509,449|
|Cash and cash equivalentsatthe end|||||
|ofthe reporting period||659,175||618,313|
##
##
|
ACTIVITIES|||
|---|---|---|
||2020|2019|
||£|£|
|Net {expenditure)/incomeforthereportingperiod{asperthe|||
|StatementofFinancialActivities)|(86,012)|97,434|
|Adjustmentsfor:|||
|Depreciation charges|107,289|87,232|
|Gainoninvestments|(29,422)|(55,509)|
|Interest received|(8)|(93)|
|Dividends received||(2,494)|
|Realised {Gains)/Lossesoninvestments||(63)|
|Decrease/{increase)instocks|50|(12,786)|
|Decreaseindebtors|90,963|115,311|
|Decreaseincreditors|(8,854)|(66,470)|
|Net cashprovidedbyoperations|74,006|162,562|
##
||Al1/1/20|Cash flow|At 31/12/20|
|---|---|---|---|
||£|£|£|
|Net cash||||
|Cash at bank andinhand|618,313|40,862|659,175|
||. 618,313|40,862|659,175|
|Total|618,313|40,862|659,175|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|INVESTMENT INCOME|||
|---|---|---|
||2020|2019|
||£|£|
|Dividends||2,494|
|Rental income|54,482|56,206|
|Interest receivable|8|93|
||54,490|58,793|
##
|||2020|2019|
|---|---|---|---|
||Activity|£|£|
|Subscriptions|Membership and registration|239,858|237,116|
|IAQP|Membership and registration|5,438|6,701|
|Other income|Membership and registration||350|
|Other income|Certification|1,931|2,022|
|Certification activities|Certification|1,760,718|2,129,392|
|Government grants|Certification|21,818||
|Journal advertising income|Publishingandmarketing|26,464|39,926|
|Publications advertising||||
|income|Publishing and marketing|34,484|36,164|
|Saleofbooks and insignia|Publishing and marketing|16,477|27,081|
|Journal subscriptions|Publishing and marketing|16,809|17,694|
|Condition monitor|Publishing and marketing|10|1,074|
|Conference and seminar||||
|receipts|Conferences and events|3,705|273,590|
|Branch income|Conferences and events|8,202|14,110|
|||2,135,914|2,785,220|
##
##
|**Investment management costs**||||
|---|---|---|---|
|||2020|2019|
|||£|£|
|Investment management costs||~|~|
|**CHARITABLE ACTIVITIES COSTS**||||
|||Support||
||Direct|costs (see||
||Costs|note 6)|Totals|
||£|£|£|
|Membership and registration|163,469|48,770|212,239|
|Certification|1,127,703|358,577|1,486,280|
|Publishing and marketing|484,365|15,555|499,920|
|Conferences and events|86,992|3,964|90,956|
|European & international affairs|9,619||9,619|
||1,872,148|426,866|2,299,014|
##
##
|**SUPPORT COSTS**|||||
|---|---|---|---|---|
||||Governance||
||Management|Finance|costs|Totals|
||£|£|£|£|
|Membership and registration|43,659|2,768|2,343|48,770|
|Certification|323,217|19, 147|16,213|358,577|
|Publishing and marketing|13,850|923|782|15,555|
|Conferences and events|3,538|231|195|3,964|
||384,264|23,069|19,533|426,866|
##
||2020|2019|
|---|---|---|
||£|£|
|Auditors' remuneration|5,620|5,460|
|Auditors' remuneration for non audit work|13,913|12, 166|
|Depreciation - owned assets|107,289|87,232|
##
##
##
|**STAFF COSTS**|||
|---|---|---|
||2020|2019|
||£|£|
|Wages and salaries|1,116,779|1,151,768|
|Social security costs|108,896|111,054|
|Other pension costs|90,328|84,849|
||1,316,003|1,347,671|
##
|2020|2019|
|---|---|
|37|38|
||=|
##
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||£|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|**Charitable activities**||||
|Membership and registration|243,817|350|244,167|
|Certification|2,131,414||2,131,414|
|Publishing and marketing|121,939||121,939|
|Conferences and events|287,700||287,700|
|Investment income|58,793||58,793|
|**Total**|2,843,663|350|2,844,013|
|**EXPENDITUREON**||||
|Raising funds|.6,809||6,809|
##
##
|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||£|£|£|
||Charitableactivities||||||
||Membership and registration|||208,815|2,493|211,308|
||Certification|||1,641,427||1,641,427|
||Publishing and marketing|||544,811||544,811|
||Conferences and events|||360,046||360,046|
||European&international affairs|||37,687||37,687|
||Total|||2,799,595|2,493|2,802,088|
||Net gains on investments|||55,509||55,509|
||NET INCOME/(EXPENDITURE)|||99,577|(2,143)|97,434|
||Transfers betweenfunds|||(646)|646||
||Netmovementinfunds|||98,931|(1,497)|97,434|
||RECONCILIATION OF FUNDS||||||
||Totalfundsbroughtforward|||3,052,106|14,290|3,066,396|
||TOTALFUNDS CARRIED FORWARD|||3,151,037|12,793|3,163.830|
|11.|TANGIBLE FIXED ASSETS||||||
||||Presidents||Fixtures||
|||Freehold|chains of||and||
|||property|office|Equipment|fittings|Totals|
|||£|£|£|£|£|
||COST||||||
||At 1 January 2020|1,955,344|1,547|490,822|94,897|2,542,610|
||Additions|7,138||24,732|2.238|34,108|
||At31December 2020|1,962,482|1,547|515,554|97, 135|2,576,718|
||DEPRECIATION||||||
||At 1 January 2020|204,187||411,535|84,375|700,097|
||Charge for year|54.700||47,432|5,157|107,289|
||At31December 2020|258,887||458,967|89,532|807,386|
||NETBOOKVALUE||||||
||At31December 2020|1,703,595|1,547|56,587|7,603|1,769,332|
||At31December 2019|1,751.157|1,547|79,287|10,522|1,842,513|
##
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Movement|
||inmarket|
||valueof|
||UK|
||quoted|
||investments|
||£|
|**MARKET VALUE**||
|At 1 January 2020|518,486|
|Disposals|(956)|
|Revaluations|29,422|
|At31December 2020|546,952|
|**NET BOOK VALUE**||
|At31December 2020|546,952|
|At31December 2019|518,486|
|**Analysis of investments between funds**||
||Unrestricted fund|
||£|
|UK equities|546,950|
|Non-UK equities||
|Sharesingroup undertakings|2|
||546,952|
##
##
|**STOCKS**|||
|---|---|---|
||2020|2019|
||£|£|
|Finished goods|49,794|49,844|
##
##
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
||2020|2019|
||£|£|
|Trade debtors|220,887|282,121|
|Bad debt provision|(5,000)|(5,000)|
|Other debtors|(75)|(75)|
|Prepayments and accrued income|175,768|205,497|
||391,580|482,543|
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
||2020|2019|
||£|£|
|Trade creditors|70,754|65,336|
|Social security and other taxes|36,947|28,417|
|VAT|38,271|36,820|
|Other creditors|18, 193|20,535|
|Accruals|59,695|79,025|
|Deferred income|115,155|117,736|
||339,015|347,869|
##
##
|**Deferred income**||||||
|---|---|---|---|---|---|
|||Balance at|||Balanceat31|
||1|January 2020|Released|Deferred|December 2020|
|||£|£|£|£|
|Subscriptions||117,736|(117,736)|115,155|115,155|
##
||2020|2019|
|---|---|---|
||£|£|
|Within one year|4,931|8,920|
|Between one and five years|186|5,118|
||5,117|14,038|
##
##
|**MOVEMENT IN FUNDS**||||
|---|---|---|---|
|||Net||
|||movement|At|
||At 1/1/20|in funds|31/12/20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|3,151,037|(85, 112)|3,065,925|
|**Restricted funds**||||
|Croxson Memorial Fund|2,810||2,810|
|BNC for NOT Fund|31||31|
|Halmshaw Award Fund|4,560|(350)|4,210|
|The Nemet Award|5,392|(550)|4,842|
||12,793|(900)|11,893|
|**TOTAL FUNDS**|3,163,830|(86,012)|3,077,818|
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||**resources**|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|2,190,404|(2,304,938)|29,422|(85, 112)|
|**Restricted funds**|||||
|Halmshaw Award Fund||(350)||(350)|
|The Nemet Award||(550)||(550)|
|||(900)||(900)|
|**TOTAL FUNDS**|2,190,404|(2,305,838)|29,422|(86,012)|
##
##
|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|Al|
||Al1/1/19|infunds|funds|31/12/19|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|3,052,106|99,577|(646)|3,151,037|
|**Restricted funds**|||||
|Croxson Memorial Fund|2,810|||2,810|
|BNC for NOT Fund|31|||31|
|Halmshaw Award Fund|4,910|(350)||4,560|
|BINDT Travel Scholarship|482|(948)|466||
|The Nemet Award|6,057|(665)||5,392|
|COMADIT Prize||(180)|180||
||14,290|(2, 143)|646|12,793|
|**TOTAL FUNDS**|3,066,396|97,434||3,163,830|
|Comparative net movementinfund|s, includedinthe abov|s, includedinthe abov|e are as follows:|||
|---|---|---|---|---|---|
||Incoming||Resources|Gains and|Movement|
||**resources**||expended|losses|infunds|
||£||£|£|£|
|**Unrestricted funds**||||||
|General fund|2,843,663||(2,799,595)|55,509|99,577|
|**Restricted funds**||||||
|Halmshaw Award Fund|||(350)||(350)|
|BINDT Travel Scholarship|||(948)||(948)|
|The Nemet Award|||(665)||(665)|
|COMADIT Prize||350|(530)||(180)|
|||350|(2,493)||(2, 143)|
|**TOTAL FUNDS**|2,844,013||(2,802,088)|55,509|97,434|
##
##
##
##
##
##
||2020|2019|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Dividends||2,494|
|Rental income|54,482|56,206|
|Interest receivable|8|93|
||54,490|58,793|
|**Charitable activities**|||
|Subscriptions|239,858|237,116|
|IAQP|5,438|6,701|
|Journal advertising income|26,464|39,926|
|Publications advertising income|34,484|36,164|
|Saleofbooks and insignia|16,477|27,081|
|Journal subscriptions|16,809|17,694|
|Condition monitor|10|1,074|
|Conference and seminar receipts|3,705|273,590|
|Other income|1,931|2,372|
|Certification activities|1,760,718|2,129,392|
|Government grants|21,818||
|Branch income|8,202|14, 110|
||2, 135,914|2,785,220|
|**Total incoming resources**|2,190,404|2,844,013|
|**EXPENDITURE**|||
|**Investment management costs**|||
|Investment management costs|6,824|6,809|
|**Charitable activities**|||
|Wages|1,116,779|1,151,768|
|Social security|108,896|111,054|
|Pension costs|90,328|84,849|
|Other staff benefits|36,415|46,030|
|Journal production costs|152,579|148,549|
|Publication costs|109,560|117,377|
|Website/electronic publishing|29,808|32,722|
|Cost of books and insignia|3,438|17,782|
|Conference expenses|8,215|168,635|
|Branch costs|7,029|16,059|
|European and international affairs|9,619|37,687|
|UKAS fees|13,752|17,881|
|PCN audit fees|54,746|58,907|
|Awards|4,165|11,645|
|Carried forward|1,745,329|2,020,945|
##
||2020|2019|
|---|---|---|
||£|£|
|Charitableactivities|||
|Brought forward|1,745,329|2,020,945|
|othercertification services|79,958|185,305|
|Legal costs|9,410|11,888|
|Staff costs|4,651|27,264|
|Marketing|9,862|21,894|
|Meeting expenses|12,017|27,336|
|Staff training|10,921|19,247|
||1,872, 148|2,313,879|
|Supportcosts|||
|Management|||
|Telephone|19,394|19,427|
|Postage and stationery|48,961|79,686|
|Sundry expenses|18,810|9,635|
|Computer costs|100,639|105,236|
|Bad debts|(1,419)|22,073|
|Premises, facilities and insurance costs|90,590|108,644|
|Depreciation|107,289|87,232|
||384,264|431,933|
|Finance|||
|. Bank charges|23,069|31,841|
|Governancecosts|||
|Auditors' remuneration|5,620|5,460|
|Auditors' remuneration for non audit work|13,913|12,166|
||19,533|17,626|
|Total resources expended|2,305,838|2,802,088|
|Net(expenditure)/incomebeforegains|||
|andlosses|(115,434)|41,925|
|Realisedrecognisedgainsandlosses|||
|Realised gains/(losses) on fixed asset|||
|investments|29,422|55,509|
|Net(expenditure)/income|(86,012)|97,434|