OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-01-31-accounts

Registered number: 00996225 Charity number: 261990

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2022

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its directors and advisers 1
Directors' annual report 2 - 4
Independent examiner's report 5 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 21

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2022

Directors Chris Chapman
Monica Arino
Andrew Barendse
Grant Buchanan
Tim Cowen
Adriana Inzunza
Sean Kennedy
Ann LaFrance
Karim Lesina
Peter Lovelock
Augusto Preta
Jacquelynn Ruff
Jean-Jacques Sahel
Stephen Unger
Joe Welch
Derek Wilding
Chris Woolford
Sudharma Yoonaidharma
Company registered
number 00996225
Charity registered
number 261990
Registered office Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Company secretary Wellco Secretaries Limited
President Chris Chapman
Accountants Wellden Turnbull Limited
Chartered Accountants
Chartered Tax Advisers
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Bankers HSBC Bank Plc
1 Woburn Place
Russell Square
London
WC1H 0LQ

Page 1

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

DIRECTORS' ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2022

The Directors present their annual report together with the financial statements of the company for the period 1 February 2021 to 31 January 2022. The Directors confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

The Directors confirm that the Annual report and financial statements of the charity comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities (Charities SORP FRS 102).

Since the charitable company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

OBJECTIVES AND ACTIVITIES

POLICIES AND OBJECTIVES

The IIC exists to inform and thereby shape the global policy agenda for the ICT and digital ecosystem. Its members believe that the impact of technological innovation on society should be evaluated and discussed openly and that policy and regulation should both maximise the public interest and promote innovation and investment.

An international independent not-for-profit organisation that provides a forum for regulators, digital media, communications and service companies and, more broadly, organisations operating in the digital economy to identify and discuss issues and practices emerging in the digital world (including advertising and trade related matters). The intention is to promote the formulation of regulation and best practice that will benefit the public, by ensuring that such regulation and practices are, and remain, relevant to developments in the digital age and provide appropriate safeguards (particularly for children and other vulnerable users (and the on-going protection of civil and human rights).

In setting objectives and planning activities the directors have given due consideration to general guidance published by the Charity Commission relating to public benefit. There have been no changes in the objectives since the last annual report.

ACTIVITIES FOR ACHIEVING OBJECTIVES

The company continues to organise international meetings and conferences and promote knowledge sharing and best practice and publishing material in worldwide communications..

The IIC achieves its objectives via any of the following or such other activities of a similar nature:

Page 2

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

DIRECTORS' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 JANUARY 2022

ACHIEVEMENTS AND PERFORMANCE

REVIEW OF ACTIVITIES

2021 has been another challenging year, our focus and goal for the year was on two key areas – to deliver and to engage with the membership, both of which we achieved. During the extenuating circumstances of 2020, through 2021 and in to 2022, we pivoted the organisation to do just that – deliver and engage, which also enabled us to expand our reach across the globe and recruit new members. A total of 16 new members joined the IIC during the business year of 2021/2022.

As we return to a level of normality, the IIC continues its core purpose of informing and thereby shaping the global public policy agenda for the digital society and economy. This is being accomplished through a developed offering of a combined in-person and online programme to continue the growth and engagement we have achieved during the business year of 2021/22.

The IIC team continue to be an asset to the Institute and to focus positively on the change management programme we are undertaking as part of our continual improvement and development.

The results for the period, and the charity's financial position at the year end, are shown in the attached financial statements.

INVESTMENT POLICY AND PERFORMANCE

The investment powers are defined in the Memorandum and Articles of Association, however, for the time being the company has no investments.

FINANCIAL REVIEW

GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

RESERVES POLICY

The Board of Directors has reviewed the charity's needs for reserves in line with the guidance issued by the Charities Commission. The directors seek to maintain funds sufficient to cover annual running costs in order that the charity can run efficiently and meet the needs of the members.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

The charitable company is a charitable company limited by guarantee and was set up by a Memorandum of Association on 7 December 1970 and amended 27 October 2009.The company's registered charity number is 261990 and registered company number is 00996225.

METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS

The management of the charitable company is the responsibility of the Directors who are elected and co-opted under the terms of the Articles of Association of the company.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Institute operates from its offices in London and through numerous chapters throughout the world.

RISK MANAGEMENT

The Directors have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 3

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

DIRECTORS' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 JANUARY 2022

PLANS FOR FUTURE PERIODS

FUTURE DEVELOPMENTS

The company will continue to organise virtual and in-person international meetings and conferences and promote research and publishing material in worldwide communications.

DIRECTORS' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of International Institute of Communications for the purposes of company law) are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Directors, on 2 August 2022 and signed on their behalf by:

................................................ Chris Chapman, President

................................................ Sean Kennedy, Director

Page 4

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2022

INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF INTERNATIONAL INSTITUTE OF COMMUNICATIONS (the 'company')

I report to the charity Directors on my examination of the accounts of the company for the year ended 31 January 2022.

This report is made solely to the company's Directors, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Directors those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Directors as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Directors of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

Page 5

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 JANUARY 2022

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Dated: 2 August 2022

Robin John, FCA CTA

WELLDEN TURNBULL LIMITED

Chartered Accountants

Albany House Claremont Lane Esher Surrey KT10 9FQ

Page 6

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2022

Note
INCOME FROM:
Subscriptions, publications and research project income
2
Bank interest and other investment income
3
TOTAL INCOME
EXPENDITURE ON:
Raising funds
Charitable activities
4,6
TOTAL EXPENDITURE
7
NET INCOME / (EXPENDITURE) BEFORE OTHER
RECOGNISED GAINS AND LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2022
£
497,557
36
497,593
15,240
466,965
482,205
15,388
15,388
202,602
217,990		 Total
funds
2022
£
497,557
36
497,593
15,240
466,965
482,205
15,388
15,388
202,602
217,990		 Total
funds
2021
£
472,352
320
472,672
31,150
534,453
565,603
(92,931)
(92,931)
295,533
202,602

The notes on pages 10 to 21 form part of these financial statements.

Page 7

INTERNATIONAL INSTITUTE OF COMMUNICATIONS (A company limited by guarantee) REGISTERED NUMBER: 00996225

BALANCE SHEET AS AT 31 JANUARY 2022

Note
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
12
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
14
TOTAL CHARITY FUNDS		 2022
£
£
2,707
134,331
456,219
590,550
(375,267)
215,283
217,990
217,990
217,990		 2021
£
£
2,834
162,054
381,596
543,650
(343,882)
199,768
202,602
202,602
202,602		 2021
£
£
2,834
162,054
381,596
543,650
(343,882)
199,768
202,602
202,602
202,602
202,602
202,602
202,602

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the Directors on 2 August 2022 and signed on their behalf, by:

................................................ Chris Chapman, President

................................................ Sean Kennedy, Director

The notes on pages 10 to 21 form part of these financial statements.

Page 8

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2022

Note
Cash flows from operating activities
Net cash provided by/(used in) operating activities
16
Cash flows from investing activities:
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
17		 2022
£
76,281
(1,658)
(1,658)
74,623
381,597
456,220		 2021
£
(53,896)
(3,095)
(3,095)
(56,991)
438,588
381,597

The notes on pages 10 to 21 form part of these financial statements.

Page 9

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

International Institute of Communications meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

These financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

1.2 Company status

The charitable company is a company limited by guarantee, incorporated in England & Wales. The principal place of business is Suite 107, 143 Kingston Road, Wimbledon, SW19 1LJ. The members of the company are the Directors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and sponsorship are recognised in the period in which they are receivable.

Amounts received to fund projects are taken to the statement of financial activities in the period in which related expenditure is made on the projects.

When income is received relating to a future accounting period, the statement of financial activities shows the gross amount received together with the changes in the amounts deferred to future accounting periods. Deferred income at the year end is included in creditors.

Page 10

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

1. ACCOUNTING POLICIES (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Direct charitable expenditure includes all expenditure directly related to the objects of the charity.

Fundraising costs are those incurred in efforts to retain and increase membership and do not include the costs of disseminating information in support of the charitable activities. Support costs are those incurred directly in support of expenditure on the objects of the company and include project management carried out at headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

1.5 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and fittings - 15% straight line
Computer equipment - 33% straight line

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.7 Operating leases

Rentals under operating leases are charged to the statement of financial activities incorporating income and expenditure account on a straight line basis over the lease term.

Page 11

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

1. ACCOUNTING POLICIES (continued)

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.11 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.13 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the statement of financial activities incorporating income and expenditure account.

Page 12

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

1. ACCOUNTING POLICIES (continued)

1.14 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the statement of financial activities incorporating income and expenditure account over the expected useful lives of the assets concerned. Other grants are credited to the statement of financial activities incorporating income and expenditure account as the related expenditure is incurred.

1.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Directors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. SUBSCRIPTION INCOME, PUBLICATIONS AND RESEARCH PROJECT INCOME

Subscriptions, publications and project income
Government grants
Total subscriptions, publications and research project income
Total 2021		 Unrestricted
funds
2022
£
497,557
-
497,557
472,352		 Total
funds
2022
£
497,557
-
497,557
472,352		 Total
funds
2021
£
462,352
10,000
472,352

Page 13

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

ANALYSIS OF INCOME

ANALYSIS OF INCOME
Corporate, Regulators and Institutional membership
Individual and Associate memberships
Intermedia
Sponsorship and fees from TMF
Sponsor members
Government grant
UK Chapter and RRF
Annual Conference fees
Research

Total		 2022
£
425,430
33,104
6,364
733
11,324
-
5,524
1,578
13,500

497,557		 2021
£
415,350
31,625
7,446
-
4,951
10,000
100
588
2,292
472,352

3. INVESTMENT INCOME

INVESTMENT INCOME
Bank interest receivable
Total 2021		 Unrestricted
funds
2022
£
36
320		 Total
funds
2022
£
36
320		 Total
funds
2021
£
320

4. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Charitable expenditure ( see note 7 )
Total 2021		 Unrestricted
funds
2022
£
447,521
517,210		 Total
funds
2022
£
447,521
517,210		 Total
funds
2021
£
517,211

Page 14

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

5. CHARITABLE EXPENDITURE

Direct costs
Media, forum and conference costs
Premises and related costs
Wages and salaries
Social security costs
Pension cost
Depreciation
Total 2021
SUPPORT COSTS INCLUDING GOVERNANCE COSTS
Accountancy and compliance costs
Office costs		 Charitable
expenditure
Total
2022
£
£
6,863
6,863
135,361
135,361
36,949
36,949
237,102
237,102
23,199
23,199
6,263
6,263
1,784
1,784
447,521
447,521
517,210
517,210
Unrestricted
funds
2022
£
18,923
521
19,444		 Total
2021
£
25,847
172,138
52,400
238,174
21,672
5,708
1,271
517,210
Total
funds
2021
£
16,476
766
17,242

6. SUPPORT COSTS INCLUDING GOVERNANCE COSTS

Examiners' fees included in the above amounted to £3,285 (2021 - £3,285).

7. ANALYSIS OF EXPENDITURE

Raising funds
Charitable expenditure
Support and governance
costs
Total 2021		 Staff costs
Depreciation
2022
£
2022
£
-
-
266,564
1,784
-
-
266,564
1,784
265,553
1,271		 Other costs
2022
£
15,240
179,173
19,444
213,857
298,778		 Total
2022
£
15,240
447,521
19,444
482,205
565,602		 Total
2021
£
31,150
517,211
17,242
565,603

Page 15

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

8. NET INCOME/ EXPENDITURE

This is stated after charging:

2022 2021
£ £
Depreciation of tangible fixed assets:
- owned by the charity 1,784 1,270

During the year, no Directors received any remuneration (2021 - £NIL). During the year, no Directors received any benefits in kind (2021 - £NIL). During the year, no Directors received any reimbursement of expenses (2021 - £NIL).

9. STAFF COSTS

Staff costs were as follows:

Wages and salaries
Social security costs
Other pension costs		 2022
£
237,102
23,199
6,263
266,564		 2021
£
238,173
21,672
5,708
265,553

The average number of persons employed by the company during the year was as follows:

2022 2021
No. No.
Administrative staff 4 5
The number of higher paid employees was:
2022 2021
No. No.
In the band £60,001 - £70,000 1 1
In the band £80,001 - £90,000 0 1
In the band £90,001 - £100,000 1 0

Page 16

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

10. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1 February 2021
Additions
At 31 January 2022
Depreciation
At 1 February 2021
Charge for the year
At 31 January 2022
Net book value
At 31 January 2022
At 31 January 2021		 Fixtures and
fittings
£
1,839
-
1,839
1,839
-
1,839
-
-		 Computer
equipment
£
24,283
1,657
25,940
21,449
1,784
23,233
2,707
2,834		 Total
£
26,122
1,657
27,779
23,288
1,784
25,072
2,707
2,834

Page 17

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

11. DEBTORS

DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income
Included in other debtors is a rental deposit of £nil (2021 - £3,500).		 2022
£
121,998
-
12,333
134,331		 2021
£
150,379
9,423
2,252
162,054

12. CREDITORS: Amounts falling due within one year

2022 2021
£ £
Trade creditors 12,516 13,290
Other taxation and social security 8,437 8,913
Other creditors 1,656 1,435
Accruals and deferred income 352,658 320,244
375,267 343,882
Included in deferred income above is income received in advance of £337,710 (2021 - £303,457).
13.
FINANCIAL INSTRUMENTS
Financial assets measured at amortised cost
Financial liabilities measured at amortised cost		 2022
£
121,998
14,172		 2021
£
150,379
13,290

Page 18

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

14. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted funds
General Funds - all funds
STATEMENT OF FUNDS - PRIOR YEAR
General Funds - all funds
Total of funds
SUMMARY OF FUNDS - CURRENT YEAR
General funds
SUMMARY OF FUNDS - PRIOR YEAR
General funds		 Balance at 1
February
2021
£
202,602
Balance at
1 February
2020
£
295,532
295,532
Balance at 1
February
2021
£
202,602
Balance at
1 February
2020
£
295,532		 Income
£
497,593
Income
£
472,672
472,672
Income
£
497,593
Income
£
472,672		 Expenditure
Balance at 31
January 2022
£
£
(482,205)
217,990
Expenditure
Balance at 31
January 2021
£
£
(565,602)
202,602
(565,602)
202,602
Expenditure
Balance at 31
January 2022
£
£
(482,205)
217,990
Expenditure
Balance at 31
January 2021
£
£
(565,602)
202,602

Page 19

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted Unrestricted
funds
2022
£
Tangible fixed assets 2,707
Current assets 590,551
Creditors due within one year (375,268)
217,990
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted
funds
2021
£
Tangible fixed assets 2,834
Current assets 543,651
Creditors due within one year (343,882)
202,603
16. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2022 2021
£ £
Net income/(expenditure) for the year (as per Statement of Financial
Activities) 15,388 (92,931)
Adjustment for:
Depreciation charges 1,784 1,271
Decrease in debtors 40,056 84,082
Increase/(decrease) in creditors 19,053 (46,318)
Net cash provided by/(used in) operating activities 76,281 (53,896)
17. ANALYSIS OF CASH AND CASH EQUIVALENTS
2022 2021
£ £
Cash in hand 26 37
Deposit account 307,787 347,751
Current account 148,407 33,809
Total 456,220 381,597

Page 20

INTERNATIONAL INSTITUTE OF COMMUNICATIONS

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

18. OPERATING LEASE COMMITMENTS

At 31 January 2022 the total of the charity’s future minimum lease payments under non-cancellable operating leases was:

2022 2021
£ £
Amounts payable:
Within 1 year - 3,500

19. RELATED PARTY TRANSACTIONS

During the year consultancy fees of £12,000 (2021 - £11,000) were paid to Taunton Holdings Ltd, a company in which Mr C Chapman is a director. There were no other related party transactions.

20. CONTROLLING PARTY

The company is controlled by its members through its Board of Directors.

Page 21