2020-12-31-accounts - The Institute Of Acoustics Limited

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			Page
Legal and	Administrative	Information
Trustees'	Report		3 to 7
Auditors'	Report		8to11
Statement	of Financial Activities		12
Balance Sheet			13
Statement	of Cash Flows		14
Notes to the Financial Statements			15to 23

			the objects a	n	d powers	ofthe charitable comp
Trustees
			C Barlow			Y Liu
			BFenech			R M M Mirchandani
			B M Gibbs			G Parry
			J Hill			F E Rogerson
			K R Holland			H SSagoo
			A Lamacraft			A W M Somerville
			P A Lepper			V Stewart
			M R Lester			SWTurner
			D Goodhand	(appointed		7 July 21)
President			SW Turner
Secretary			A Chesney
Honorary		Treasurer	M R Lester
Honorary		Secretary	F E Rogerson
Company		Number	0'I157249
Charity	Number		267026
Registered		and
Principal	Office:		Silbury Court
			406 Silbury Boulevard
			Milton Keynes
			MK9 2AF
Auditors			Rayner Essex		LLP
			Faulkner House
			Victoria Street
			StAlbans
			Herts AL1 3SE
Solicitors			Pictons Solicitors LLP
			28 Dunstable		Road
			Luton
			Bedfordshire	LU1 1DY
Bankers			Lloyds TSBPic
			Knightsbridge		Branch
			9-13Brompton		Road
			London SW3		1DD

OR THE YEAR ENDED 31STDECE	MBER 2021
				2021	2020
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
	Notes			F	E
Incoming resources from:
Donations & legacies:
Donations			10,000	10,000
Legacies		9,334		9,334
Charitable activities:
Subscriptions		485,214		485,214	477,331
Meetings		26,910		26,910	14,721
Publications		102,854		102,854	113,262
Education		333,807		333,807	309,183
Branch and Group Activities
Engineering Division		16,607		16,607	16,285
Investments:
Investment Income		6,841		6,841	11,241
Other:
Sundry Income		2,627		2,627	4,560
Total incoming resources		984,194	10,000	994,194	946,583
Resources expended
Costs ofgenerating funds		279,633		279,633	287,252
Charitable activities		680,659	2,350	683,009	613,760
Total resources expended		960,292	2,350	962,642	901,012
Net incoming resources before
other recognised gains and losses		23,902	7,650	31,552	45,571
Other recognised Gains and Losses
Net movement in funds		23,902	7,650	31,552	45,571
Reconciliation offunds
Fund Balances Brought Forward		1,600,481		1,600,481	1,554,910
Transfers between funds
Fund balances carried forward		1,624,383	7,650	1,632,033	1,600,481

				Notes	2021	2020
					E
Fixed Assets
Tangible assets					368,212		392,664
Current Assets
Debtors					134,340	77,530
Cash at bank and	in hand				1,362,450	1,310,458
Total Current Assets					1.496,790	1,387,988
Creditors: Amounts		Falling	Due
within One Year				10	(232,969)	(180,171)
Net Current Assets					1,263,821		1,207,817
Total Assets Less Current					1,632,033		1,600,481
Liabilities
The Funds ofthe	Charity
Reserves —unrestricted					1,624,383		1,600,481
Reserves - restricted					7,650
Total Funds					1,632,033		1,600,481

						202%	2020
Cash flows from operating activities
Net income (expenditure)	for the year					31,552	45,571
Adjustments for:
Depreciation						89,178	74,074
Loss ofdisposal of fixed assets
Investment income						(6,841)	(11,241)
(Increase)/reduction in debtors						(56,810)	66,419
Increase/(reduction) in creditors						52,798	(103,336)
Net cash provided/(used)		in operating	activities			109,877	71,487
Cash flows from investing		activities
Purchase oftangible fixed	assets					(64,726)	(121,053)
Sale oftangible fixed assets
Investment income						6,841	11,241
Net cash (used in) investing activities						(57,885)	(109,812)
Net increase / (decrease) equivalents	in	cash and cash				51,992	(38,325)
Cash and cash equivalents year		at the beginning		ofthe		1,310,458	1,348,783
Cash and cash equivalents		at the end ofthe		year		1,362,450	1,310,458
Cash and cash equivalents		is made up of the
following:
Cash at bank and in hand						1,362,450	1,310,458
Total						1,362,450	1,310,458
The notes on pages 15to 23		form part ofthese financial			statements.

otal resou	rces	expended
			Costs of	Conferences		Governance	2021Total	2020 Total
			generating	and			Funds	Funds
			funds	Education	Other			F.
					E	E
Costs directly allocated to activities
Meetings				22,165			22,165	19,976
Publications			93,890				93,890	90,150
Education				90,858			90,858	79,611
Branch and	Group Activities			1,326			1,326	2,014
Engineering	Division				21,881		21,881	24,603
Subscriptions				19,194			19,194	21,510
Legal fees						5,068	5,068	1,006
Audit						8,500	8,500	8,500
Accountancy	&taxation					11,505	11,505	11,670
Marketing expenses			79,654				79,654	99,127
Bad debts				9,203			9,203
			173,544	142,746	21,881	25,073	363,244	358,167
Support costs allocated to activities
Staff costs			64,771	129,543	12,954	51,164	258,432	246,669
Rent, rates and service charge			11,980	29,950	2,994	14,976	59,900	53,570
Light, heat and insurance			1,505	3,760	376	1,879	7,520	6,486
Hire of equipment				11,122			11,122	11,394
Computer fees			6, 'I 09	48,878		6,109	61,096	42,311
Printing, stationery		8 duplicating	287	2,302		287	2,876	3,203
Postage (including		Bulletin)	502	4,015		502	5,019	4,093
Telephone			774	6,967			7,741	5,440
Committee and management
expenses			1,606	8,774		24,087	34,467	30,386
Sundry expenses			393	969	96	480	1,938	1,070
Bank and credit card charges			2,624	6,122			8,746	9,631
Depreciation			8,917	71,344		8,917	89,178	74,074
Irrecoverable	VAT		4,393	32,951	2,197	4,393	43,934	48,755
Travel			244	407	81	81	813	1,102
Repairs and	maintenance		1,984	3,310	661	661	6,616	4,661
			279,633	503,160	41,240	138,609	962,642	901,012

Net Movement In Funds
The movement offunds is stated after charging	or (crediting):
		2021	2020
		F
Depreciation ofowned assets		89,178	74,074
Auditors' remuneration		8,500	8,500
Operating leases —premises		48,186	46,211
Hire ofequipment		11,122	11,394

			2021	2020
Wages and	salaries		225,385	215,757
Employers'	national	insurance	19,898	18,426
Employers'	pension	costs	13,149	12,486
			258,432	246,669

he year w	as as follow
2021	2020
Number	Number

Direct charitable	activities
Management and	administration

8.	Tangible Fixed Assets	Tangible Fixed Assets	Leasehold	Computer	Office
			Improvements	Equipment	Equipmentf	Total
	Cost
	At 1st January 2021		161,461	426,346	27,475	615,282
	Additions			64,726		64,726
	Disposals
	At 31stDecember 2021		161,461	491,072	27,475	680,008
	Depreciation
	At 1st January 2021		48,441	165,933	8,244	222,618
	Charge for the year
	Disposals		16,147	70,283	2,748	89,178
	At 31stDecember 2021		64,588	236,2'l 6	10,992	311,796
	Net Book Value
	At 31stDecember 2021		96,873	254,856	16,483	368,2'l2
	At 31stDecember 2020		113,020	260,413	19,231	392,664
9.	Debtors
					2021	2020
					F
	Trade debtors				57,334	50,662
	Prepayrnents and accrued income				75,249	24,055
	VAT recoverable				1,709	'I,608
	Other debtors				48	1,205
					'I34,340	77,530
10.	Creditors: Amounts	Falling Due	Within One Year
					2021	2020
	Trade creditors				38,845	32,235
	Other taxes and social	security			9,017	7,159
	Accruals				61,129	34,149
	Deferred income				123,978	106,628
					232,969	'I80,171

Unrestricted —general fund	Unrestricted —general fund
		f.
At 1st January 2021		1,600,481
Net incoming (outgoing	resources)	23,902
At 31stDecember 2021		1,624,383
The comparative note is	as follows:
At 1st January 2020		1,554,910
Net incoming (outgoing	resources)	45,571
At 31stDecember 2020		1,600,481
Restricted —bursary fund
At 1st January 2021
Incoming resources		10,000
Expenditure		(2,350)
At 31stDecember 2021		7,650

		Bursary Restricted	Total General
		Fund	Fund	Total
Fixed Assets			368,212	368212
Debtors			134,340	134,340
Cash at bank and	in hand	7,650	1,354,800	1,362,450
Creditors			232,969	232,969
At 31st December	2021	7,650	1,624,383	1,632,033

leases as	set out below:
		Land & Buildings			Other
		2021	2020	2021	2020
		E			F
Operating	leases which expire:
1-2years		52,983	48,938	9,324	10,590
2-5 years		31,972	104,531	42,345	21,510
After five	years
		84,955	153,469	51,669	32,100

		Costs of	Conferences				2020Total	2019Total
		generating	and				Funds	Funds
		funds	Education	Other		Governance		E
				E		F
Costs directly allocated to activities
Meetings			19,976				19,976	122,837
Publications		90,150					90,150	98,209
Education			79,611				79,611	92,265
Branch and Group Activities			2,014				2,014	8,735
Engineering Division Subscriptions			21,510	24,603			24,603 21,510	24,835 45,928
Legal fees						1,006	1,006	367
Audit						8,500	8,500	8,500
Accountancy &taxation						11,670	11,670	11,640
Marketing expenses		99,127					99,127	88,637
Bad debts								(21,427)
		189,277	123,111	24,603		21,176	358,167	480,526
Support costs allocated to activities Staff costs		61,823	123,647	12,364		48,835	246,669	237,847
Rent, rates and service charge		10,714	26,785	2,678		13,393	53,570	39,829
Light, heat and Insurance		1,298	3,243	324		1,621	6,486	5,917
Hire of equipment			11,394				11,394	10,761
Computer fees		4,231	33,849			4,231	42,311	40,863
Printing, stationery	8 duplicating	320	2,563			320	3,203	5,484
Postage (including	Bulletin)	409	3,275			409	4,093	6,292
Telephone		544	4,896				5,440	7,163
Committee and management expenses		1,519	6,078			22,789	30,386	38,817
Sundry expenses		217	535		53	265	1,070	3,995
Bank and credit card charges		2,889	6,742				9,631	10,862
Depreciation		7,407	59,260			7,407	74,074	38,366
Irrecoverable VAT		4,875	36,567	2,438		4,875	48,755	51,375
Travel		331	551	110		110	1,102	1,165
Repairs and maintenance		1,398	2,331	466		466	4,661	8,137
		287,252	444,827	43,036		125,897	901,012	987,399