ANNUAL REPORT AND FINANCIAL STATEMENT 2020 



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## **President’s Foreword** 

The last year has been like no other in living memory. Few individuals have been untouched by the events of the last 12 months; it has brought challenges, sorrow and hardship to many. 

The Institution of Lighting Professionals has, as have most companies and institutions, been significantly affected by the restrictions placed on society in order to contain a global pandemic. However, throughout the last year we have adapted and evolved to ensure the core values and membership benefits of this great institution have been maintained. We have produced new guidance documents to share knowledge and best practice and give our members and the wider industry, opportunities to improve knowledge and constancy. When you consider 


this has been achieved with a largely volunteer effort at such a challenging time, it is testament to the dedication of our membership. 

Our training and CPD adapted quickly, allowing us to deliver seminars and more formalised training throughout the year. This has been a huge effort from everyone involved, with the staff really stepping up to the plate in relation to this element. Without their drive and creativity, we would not have had the success in this area that we have had. The Institution has always provided our members with networking opportunities; we have also tried to create this environment, albeit online, with initiatives such as the hugely successful Hi Lights sessions. I cannot help but find myself looking to the future with optimism and hope. 2020 will have a profound effect on society and working practices in the future and the Institution of Lighting Professionals will continue to adapt, hopefully returning to face to face events and training but also building on the ability to use technology to make the world a smaller place, allowing us to reach out to more people with a passion for exterior lighting. 

The Institution of Lighting Professionals is a fantastic organisation with a creative, professional, and dedicated staff, but it is an organisation which is member led for the members. As such, membership involvement at all levels is key to our success and will be even more important in this ever-changing world. I am sure the information within this report will encourage anyone unsure of whether they have anything to offer to get involved. Together we are stronger and can have a positive influence on the exterior lighting industry and society as a whole. 

Anthony Smith IEng FILP ILP President 



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## **Our mission** 

To provide leadership promoting best practice for all aspects of lighting for the benefit of everyone. 

By providing membership support, CPD, training, education and events for those in the lighting profession and related fields to develop their knowledge, competencies and skills, we achieve public benefit. 

## **Our vision** 

Better lighting for all. 

In setting and establishing standards for good practice, the Institution seeks to ensure that its members attain and develop the professional knowledge, education and skills to meet necessary competencies, and to enhance their careers. 

Working on exterior and interior projects, in public spaces, workplace, leisure, retail and residential applications, members of the Institution of Lighting Professionals deliver excellence in light and lighting. 

## **Our objectives** 

The objects for which the Institution is formed is to promote, encourage and improve the science and art of lighting for the benefit of the public and for this purpose to facilitate the exchange of information and ideas on the subject among members of the Institution and otherwise and in furtherance thereof. 

## **Structure, governance and management** 

The Institution of Lighting Professionals has previously been known as: The Institution of Lighting Engineers 

The Institution of Public Lighting Engineers The Association of Public Lighting Engineers Limited 

The organisation was incorporated on January 21[st] , 1928.  It is registered as a charity 268547 with the Charity Commission and company 227499 with Companies House in England.  The Institution’s present governing document is its Articles of Association 2010, as amended by Special Resolution on September 23[rd] , 2015.  This document is available at www.theilp.org.uk and ILP staff will send out printed copies on request. 

The Trustees of the Charity are also Directors of the Company.  They make up the ILP Executive Board: the governing body of the Institution.  This team is responsible for the regulatory and financial functions with the Chief Executive Officer holding the position of Company Secretary. 

During the year, the Trustees of the Institution had due regard to the Charity Commission’s public benefit guidance when exercising their powers and duties. The Executive Board considers that the Institution’s objectives and activities are 



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for the public benefit.  This consideration underpins the projects and decisions made by the organisation. 

At the start of 2020, the members of the Executive Board were: 

President Anthony Smith Senior Vice President Vacant Immediate Past President Colin Fish Junior Vice President Fiona Horgan Honorary Treasurer John Sutcliffe Honorary Treasurer James Duffin Co-opted Board member Kevin Grigg Co-opted Board member Alan Jaques Chief Executive Officer (non-voting) Tracey White 

At the instigation of the Chief Executive, a request for expression of interest in all posts is sent to the two serving treasurers and every vice president serving at the commencement of each calendar year. 

Expressions of interest are considered at a meeting of the Executive Board and the previous five Past Presidents, as defined in the Articles. 

We held our Annual General Meeting on September 9[th] , 2020 and as a result the Executive Board comprised: 

President Anthony Smith Senior Vice President Fiona Horgan Junior Vice President Vacant Immediate Past President Colin Fish Honorary Treasurer James Duffin Honorary Treasurer John Sutcliffe Co-opted Board member Alan Jaques Co-opted Board member Kevin Grigg Chief Executive Officer Tracey White 

Vice-Presidents, the Honorary Treasurers and Immediate Past Regional/LDC Chairs are eligible to apply for the JVP position. 

The posts of Junior Vice President, Senior Vice President, Honorary Treasurer and Assistant Honorary Treasurer are subject to annual appointment in line with the requirements of the Institution’s Articles of Association. 

Given the extraordinary circumstances that 2020 brought about with the Covid19 Pandemic and subsequent lockdowns, it was agreed that the recruitment process for the vacant role of Junior Vice President would not begin until the end of 2020 with a postholder confirmed at the 2021 AGM. 



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## **Volunteers** 

The ILP Council; comprising Regional Representatives, Vice-Presidents, YLP and the Executive Board meet regularly to discuss, and co-ordinate ILP activities and initiatives. 

Young Lighting Professionals (YLP) is a section of the ILP focussing on how best to serve members aged 35 or under, or in the first few years of their lighting career, supported by a volunteer YLP committee. 

Vice Presidents take responsibility for key areas within the Institution, supported by committees, working groups and other volunteers. 

At the start of 2020, the following Vice Presidents were in post: 

Membership Development Glen Warner Architectural Graham Festenstein Local Authority Ian Jones Infrastructure Rebecca Hatch Technical Haydn Yeo Education Kimberly Bartlett Government & Policy Alistair Scott Contracting Steve Biggs Products Scott Pengelly Engineering Council Guy Harding 

## **Keeping the Lighting Community Connected** 

Despite the challenges presented by local and national lockdowns in response to the Covid situation, the ILP continued to deliver opportunities for our community to come together to learn, network and engage in CPD. 

Our team at Rugby worked hard to develop creative new ways for our members to continue to connect and developed several new initiatives over the year. 

## **Hi Lights** 

Three weeks after the UK national lockdown was announced, the ILP launched Hi Lights, an online welcoming session for everyone in lighting.  Connecting lighting professionals from across the world, the 2-hour drop-in sessions provides networking sessions that: 

- Gives speedy advice from lighting peers. 

- Share inspiration and a chance to bounce ideas off others. 

- Allows professionals to seek help with projects and specifications. 

- Provides space to virtually connect with a group of lighting colleagues. 

Now established as a monthly session, Hi Lights has connected hundreds of professionals from all over the globe, from India to Ireland, from student to Fellows, from manufacturers to designers. 



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## **Lighting’s Furloughed Friends** 

A LinkedIn group that aims to provide understanding, shared experiences and professional support for furloughed lighting professionals - sharing information, CPD, volunteering opportunities and budget friendly activities. The group is open to everyone, not only those on furlough in the UK or ILP members. 

## **The Light-Minded Movement** 

The ILP, IALD, SLL and Zumtobel Group UK launched a social media initiative called the Light-Minded Movement. The Instagram project aimed to encourage wellbeing among those working in lighting. A theme was set each week and people were encouraged to post pictures which relate to it. It provided a new opportunity for the lighting community to communicate through images, showing how they are coping with the changes in their working conditions, life at home, family, how their days have changed and what they are doing to keep mentally well. 

## **Writing, Lighting and Night – An Ever-Expanding Booklist** 

The ILP and the International Night-time Design Initiative (NTD) developed a public, co-hosted, curated resource, “WRITING, LIGHTING AND NIGHT: an everexpanding booklist”. The Booklist is interactive and encourages input from all lighting colleagues. 

The Booklist project has been founded to raise awareness of quality books that cover night-time design including lighting, and how these disciplines can have a positive effect on the planet and society. 

## **Lighting United – The ILP’s 2020 Online AGM Day** 

In 2020 the ILP’s AGM was transformed into a digital day of activities that included: a showcase for our Premier Members, an education update, a chance to meet the LDC committee members across the UK and a quiz hosted by our Young Lighting Professionals (YLP). 

## **Keeping the Lighting Community Informed And Up To Date** 

Whilst face-to-face training courses and Lighting Delivery Centre (LDC) CPD activities were halted in March, the ILP continued to offer our community opportunities to develop their professional knowledge and expertise. 

## **Access to Technical Information** 

The Technical Hotline has been created to meet the needs of those ILP members who are busier than ever facing new challenges and responsibilities. The service is available Monday to Friday 9 am – 5 pm. 




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## **ILP Online Training Portal** 

The ILP listened to the ongoing needs of our members and the wider professional community by developing an online platform to deliver training courses normally delivered in face-to-face environments. This state-of-the-art resource has the potential to reach those in need of training anywhere in the world, where there is a computer connected to the internet. 

Those working from home, vulnerable people self-isolating, those overseas and those that would prefer not to travel now have access to professional development by the ILP. 

The platform launched with 2 of the ILP’s most popular one-day courses: Asset Management Toolkit: Minor Structures (ATOMS) Fundamentals and the Fundamental Lighting course.  During 2021 and beyond we aim to offer all ILP one-day courses online. 

## **ILP Webinars** 

Working alongside our staff team at Rugby, LDC committee members delivered several CPD webinars throughout the year.  Topics included: 

- Lighting and Covid-19 FAQ 

- Ultraviolet radiation as a means of disinfection 

- Street lighting and Covid-19 

- British standard for road lighting design, updated BS5489-1 2020 

- Lighting public spaces post-pandemic 

- Lighting procurement portals. 

## **Light, Seen** 

At the end of 2020, the ILP launched an interactive initiative developed in collaboration between the ILP and our Premier members. The _Light, Seen_ showcase CPD sessions provide a connection whilst we can’t hold face to face exhibitions. 

## **The Lighting Journal** 

The Lighting Journal is distributed to lighting professionals including lighting designers, consultants, and engineers.  The Lighting Journal delivers information on all aspects of the lighting profession including technical coverage and development, new products and services, and professional news.  ILP members receive every issue of the Lighting Journal by post or digitally and can also access back issues in the library at Regent House. 

## **The Lighting Column Technical Forum (LCTF)** 

The Forum is an independent section of the ILP.  The group was formed to provide a source of knowledge, expertise, and information on all aspects of lighting column specification, design, manufacture, supply, storage and installation together with many of the associated products, materials and treatments. 



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Our **website** continues to provide advice and information to everyone through our free to read pages and pages restricted to members-only. 

Our **online member portal** allows members to record CPD, access ILP documents, change personal details, pay subscription fees, and check membership grades and numbers. 

## **Technical Knowledge and Assistance** 

During 2020, the Technical Committee, led by their Vice President, worked on the development of numerous publications.  This year saw the publication of five documents: 

## **PLG09 Ensuring visibility within short tunnels** 

British Standard BS5489-2: 2016 Code of practice for the design of road lighting, Lighting of tunnels, is the go-to Standard that defines and advises the lighting requirements in road tunnels. However, when is a tunnel not a tunnel? When it’s a short tunnel! BS5489-2 defines a tunnel as being over 150m in length, but with motorway widening and other infrastructure projects, many highway bridges do not meet the full tunnel lighting requirements but need consideration for all road user groups. This is where PLG09 could be used. 

## **PLG23 Lighting for cycling infrastructure** 

This document updates and supersedes Technical report 23 Lighting of Cycle Tracks. It is a comprehensive review of current lighting standards and guidance and applies them to cycling infrastructure. This document includes guidance for cycle tracks where surfaces are shared with pedestrians and cycle lanes forming either part of the carriageway sharing the space with motorised vehicles or sharing the footway with pedestrians. The document also discusses the need for lighting, environmental and ecology impacts and explains how appropriate lighting levels should be determined including facilities such as storage and parking facilities. 

## **Guidance Note 1 for the reduction of obtrusive light 2020** 

GN01/20 is the ‘go-to’ document for those dealing with Planning Applications, Environmental Health professionals involved in enforcement of statutory nuisance, lighting engineers, designers, manufacturers, suppliers, specifiers, architects and building services professionals. The document offers advice and examples of good practice to minimise the effect artificial lighting can have on the environment, the night sky, flora, fauna, and our neighbours. 

## **Guidance Note 11 Determination of Maintenance Factors** 

The introduction of solid-state light sources has caused some confusion regarding how their deterioration in light output, due to aging and environmental factors, should be determined. This document aligns with the latest industry thinking for LED lighting and high intensity discharge variants. 



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The publication of GN11/20 is intended to give advice to lighting managers, engineers, designers, and equipment specifiers to enable information from manufacturers or suppliers to be understood in a consistent manner. 

The document reviews the latest British, European and International Standards, using this as the basis for its recommendations to help eliminate confusion by demonstrating the development of a simpler, more consistent methodology, that considers the differing parameters of LED light sources compared with high intensity discharge lamps. 

## **GN10 Night-Time Photography** 

GN10 focuses on ways to carry out night-time photography with an electronic camera in a consistent manner, that can be used for leisure but also in reports, assessments, enquiries to demonstrate the effect of artificial light on the environment. and 

## **Keeping the Lighting Community Represented** 

## **The Institution of Lighting Professionals meeting with Home Secretary** 

Scott Pengelly and Alistair Scott, who volunteer as the Institution’s Vice Presidents for Products and Government & Policy respectively, met Home Secretary Priti Patel at her Witham constituency to discuss key issues affecting the lighting industry. This meeting came about as a result of the ILP’s 2019 preelection campaign to highlight the lighting priorities to all prospective MPs. 

## **Letter to the Prime Minister** 

In the first week of the national lockdown in March the ILP’s Chief Executive wrote to the Prime Minister urging him to help ensure work was maintained on infrastructure projects. 

## **House of Lords Debate** 

In June, members of the House of Lords debated the economic lessons learned from the Covid 19 pandemic and the measures necessary to repair the UK economy. 

The Institution of Lighting Professionals wrote to each Peer who had applied to participate in Lord Eatwell’s debate, highlighting how our members can assist the recovery, help to save the economy, and improve public safety quality of life. 

## **Joining Engineering’s response to the National Spending Review** 

In a joint paper compiled by the NEPC over 40 engineering organisations, including the ILP, representing more than 450,000 UK engineers recommend that government invests in its proposed actions to help decarbonise the economy, and create a national workforce planning strategy to create jobs and spread opportunities more evenly across the nation. 




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## **All Party Parliamentary Group Dark Skies** 

In the Autumn, the ILP responded to a call for information from the APPG Dark Skies.  Following this, the ILP was asked to input on the APPG’s ‘Ten Dark Skies Policies for the Government’ document and its subsequent national launch in December. 



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## **Financial Report 2020** 

This report is presented in a summarised form to make the Institution’s financial affairs more readily understood.  For those who wish to have sight of the full financial statements, these are available upon request at the Annual General Meeting or from the Institution’s Rugby office. The trustees, who are also directors of the ILP for the purposes of the Companies Act 2006, have adopted the provisions of 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).  The accounts have been audited by Magma Audit LLP, Chartered Accountants, and approved and signed by the Institution’s Executive Board on 23 April 2021. 

As can be seen on the Statement of Financial Activities, turnover in 2020 is £489,989.  The net movement in funds which includes losses on investments is -£148,324.  The total funds on the Balance Sheet at 31 December 2020 is £1,464,611, compared with £1,612,935 at 31 December 2019. 

In March 2020 the country went into lockdown due to the COVID-19 pandemic. This resulted in staff working from home for the remainder of the year and all face-to-face training, events and exhibitions being cancelled or postponed. Whilst ILP quickly launched online webinars and developed online training courses, the pandemic impacted on ILP’s finances.  The treasurers and finance manager worked on new budgets which were regularly presented and discussed by the Executive Board.  A year-end forecast was calculated and monthly valuations on investments were requested from 121-Advice Ltd.  These actions mitigated the loss for the year. 

## **Investment Policy and Objective** 

The day-to-day management of the charity’s investments is carried out by the investment managers under instruction from the trustees.  The managers are responsible for selecting appropriate investments to provide both income and capital growth. There were no changes in the investment policies of the fund which continue to be the pursuit of real growth through a wide range of investments coupled with a low risk, high return on certain cash investments and Government stocks. 

## **Statement from 121-Advice Ltd** 

“2020 was dominated by the COVID-19 global pandemic and the effect it had on the global economy and world stock markets. As the pandemic developed in the spring of 2020, we witnessed a global economic slowdown the likes of which nobody living has witnessed before in terms of speed and global impact. Whole sectors of the global economy closed down very quickly with the most notable effects felt in international travel, retail, entertainment and leisure, and other service sectors. The economic impact was severe with whole countries moving into national lockdowns. Matters improved throughout the summer months with a second viral wave returning in the autumn. Globally, governments and central 



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banks responded robustly, injecting $trillions of financial support into the global economy. 

The effect on the price of oil was severe in 2020 as demand fell sharply. This led to a glut in oil supplies with the price of oil crashing to -$38 per barrel due to excess supply. The oil price recovered as the pandemic developed but have yet to reach previous highs. Other base materials also saw falling prices as economic activity and hence production fell. Markets reacted very favourably to news later in the year that several vaccines were proving effective in trials and were moving on to regulatory approval for use across many countries. 

During the 12 months to 31[st] December 2020, the ILP portfolio performed exceptionally well in maintaining value, losing just £340 over the year. This was against a negative return on the FTSE100 over the same period of minus 14.3%. A healthy allocation to cash as well as a globally diversified portfolio with exposure to a range of forward-looking industrial sectors helped bolster returns. 

The investment risk of the ILP portfolio is restrained due to diversification across global equity markets and other asset classes, such as Gilts, fixed interest instruments and some commercial property. The move to invest some of the portfolio into funds specialising in technology, infrastructure and other diversifying asset classes have provided excellent returns since February 2016, with notable performances from Allianz Technology Trust (432% total gain), Scottish Mortgage Investment Trust (333% total gain) and First State Global Listed Infrastructure (62% total gain).  The portfolio continues to be maintained with a view to future growth and continues to be monitored on an ongoing basis.” 

The process for budget setting of events, training courses and exhibitions continues to be reviewed and the processes put in place ensure that these are accurately set, monitored and reviewed after the event has taken place. The ILP continues a rolling programme of market-testing for the provision of goods and services. A full set of ILP accounts is prepared each quarter and these are compared to the budget.  The accounts are discussed and approved by the Executive Board. 

The ILP’s Executive Board remains committed to providing value for money services and benefits to the members and account should be taken of the wide range of activities and initiatives carried out by the President, Vice Presidents, the Chief Executive and staff, and by members themselves.  All these people are to be congratulated on the excellent work which has been done during the year, in difficult circumstances, and it must not be forgotten that a lot of this is carried out by members in their own time, unpaid and with the generous support of their companies for which we are very grateful. 

As Honorary Treasurers, our thanks are due to the Executive Board, the various Committees, the President, Vice Presidents, the Chief Executive, staff at Rugby and to you, the members, for your continuing support of the Institution.  Special thanks should also go to Kevin Grigg for his support assisting both of us in our new roles as treasurers and members of the Board. 

## **James Duffin and John Sutcliffe - Honorary Treasurers** 



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## **Statement by the Institution’s Trustees** 

The financial information presented on the following pages is only a summary of information shown in the Institution’s statutory financial statements. 

The Institution’s financial statements for the year ended 31 December 2020 have been audited. The auditor issued an unqualified opinion on the annual accounts and reported that the information given in the Report of the Executive Board Members was consistent with the financial statements. 

The report did not contain any statements in respect of section 498 (2) (a) or (b) (accounting records or returns inadequate or accounts not agreeing with records or returns), or section 498 (3) (failure to obtain necessary information and explanations) of the Companies Act 2006 and was therefore also unqualified in these respects. The full financial statements have been filed at Companies House. 

The Trustees 



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## **Independent Auditors Statement** 

We have examined the summarised financial statements of the Institution of Lighting Professionals for the year ended 31 December 2020 set out on pages 15 to 16. 

## **Responsibilities of trustees** 

The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures can detect irregularities, including fraud is detailed below: 

Based on our understanding of the charity and industry, we identified the principal risks of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006 and Charities Act 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed included: 

- Enquiries with management for consideration of known or suspected instances of non-compliance with laws and regulations and fraud. 

- Challenging assumptions made by management in their accounting estimates. 



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- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, journal entries crediting revenue, journal entries crediting cash and journal entries with specific defined descriptions. 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

Victoria Craig (Senior Statutory Auditor) 



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The Institution of Lighting Professionals Statement of Financial Activities for the year ended 31 December 2020 

|The Institution of Lighting Professionals<br>Statement of Financial Activities<br>for the year ended 31 December 2020|||
|---|---|---|
|INCOME AND ENDOWMENTS FROM<br>Charitable activities<br>Other trading activities<br>Investment income<br>Total<br>EXPENDITURE ON<br>Raising funds<br>Charitable activities<br>Other<br>Total<br>Net gains/(losses) on investments<br>NET INCOME/(EXPENDITURE)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>TOTAL FUNDS CARRIED FORWARD|Total funds<br>31/12/2020<br>£<br>443,591<br>17,128<br>29,270<br>489,989<br>18,405<br>555,213<br>61,811<br>635,429<br>(2,884)<br>(148,324)<br>1,612,935<br>1,464,611|Total funds<br>31/12/2019<br>£<br>710,945<br>37,924<br>28,416|
|||777,285<br>19,670<br>781,624<br>52,434|
|||853,728<br>119,175|
|||42,732<br>1,570,203|
|||1,612,935|





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|The Institution of Lighting Professionals<br>Balance Sheet<br>At 31 December 2020<br>FIXED ASSETS<br>Tangible assets<br>Investments<br>Investments<br>Investment property<br>CURRENT ASSETS<br>Stocks<br>Debtors<br>Cash at bank<br>CREDITORS<br>Amounts falling due within one year<br>NET CURRENT (LIABILITIES) / ASSETS<br>TOTAL ASSETS LESS CURRENT LIABILITIES<br>NET ASSETS<br>FUNDS<br>Unrestricted funds<br>TOTAL FUNDS|Total funds<br>31/12/2020<br>£<br>382,620<br>893,839<br>215,000<br>1,491,459<br>3,951<br>12,931<br>89,728<br>106,610<br>(133,458)<br>(26,848)<br>1,464,611<br>1,464,611<br>1,464,611<br>1,464,611|Total funds<br>31/12/2019<br>£<br>381,614<br>994,178<br>215,000|
|---|---|---|
|||1,590,792<br>3,536<br>31,609<br>80,025|
|||115,170<br>(93,027)|
|||22,143<br>1,612,935|
|||1,612,935|
|||1,612,935|
|||1,612,935|





**Institution of Lighting Professionals** Registered office: Regent House, Regent Place, Rugby, CV21 2PN 01788 576492 www.theilp.org.uk Registered in England No. 227499 Registered Charity No. 268547 



**REGISTERED COMPANY NUMBER: 00227499 (England and Wales) REGISTERED CHARITY NUMBER: 268547** 

**REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **FOR** 

**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

Magma Audit LLP Chartered Accountants Statutory Auditor Magma House, 16 Davy Court Castle Mound Way Rugby CV23 0UZ 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

**CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2020** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 8|
|**Report of the Independent Auditors**|9 to 11|
|**Statement of Financial Activities**|12|
|**Balance Sheet**|13|
|**Cash Flow Statement**|14|
|**Notes to the Cash Flow Statement**|15|
|**Notes to the Financial Statements**|16 to 25|





**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 2019). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

00227499 (England and Wales) 

## **Registered Charity number** 

268547 

## **Registered office** 

Regent House Regent Place Rugby Warwickshire CV21 2PN 

## **Trustees** 

A Smith President F Horgan Senior Vice President C Fish Immediate Past President G Harding Assistant Honorary Treasurer (resigned 27/2/2020) A Jaques Co-opted Board Member J Duffin Honorary Treasurer (appointed 27/2/2020) J Sutcliffe Honorary Treasurer (appointed 27/2/2020) 

The Executive Board members are also the directors of the charitable company for the purposes of company law and its trustees for the purposes of charity law. 

## **Company Secretary** 

Mrs T J White 

## **Auditors** 

Magma Audit LLP Chartered Accountants Statutory Auditor Magma House, 16 Davy Court Castle Mound Way Rugby CV23 0UZ 

## **Solicitors** 

Toller, Hales & Collcut 2 Castilian Street Northampton 

Page 1 



## **THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Investment Managers** 

121-Advice Limited Exchange House 12 - 14 The Crescent Taunton Somerset TA1 4EB 

## **Bankers** 

HSBC Bank plc Coventry 

## **Our mission** 

To provide leadership promoting best practice for all aspects of lighting for the benefit of everyone. 

By providing membership support, CPD, training, education and events for those in the lighting profession and related fields to develop their knowledge, competencies and skills, we achieve public benefit. 

## **Our vision** 

Better lighting for all. 

In setting and establishing standards for good practice, the Institution seeks to ensure that its members attain and develop the professional knowledge, education and skills to meet necessary competencies, and to enhance their careers. 

Working on exterior and interior projects, in public spaces, workplace, leisure, retail and residential applications, members of the Institution of Lighting Professionals deliver excellence in light and lighting. 

## **Our objectives** 

The objects for which the Institution is formed is to promote, encourage and improve the science and art of lighting for the benefit of the public and for this purpose to facilitate the exchange of information and ideas on the subject among members of the Institution and otherwise and in furtherance thereof. 

## **Structure, governance and management** 

The Institution of Lighting Professionals has previously been known as: 

The Institution of Lighting Engineers The Institution of Public Lighting Engineers The Association of Public Lighting Engineers Limited 

The organisation was incorporated in 21 January 1928.  It is registered as a charity 268547 with the Charity Commission and company 227499 with Companies House in England.  The Institution's present governing document is its Articles of Association 2010, as amended by Special Resolution on 23 September 2015.  This document is available at www.theilp.org.uk and ILP staff will send out printed copies on request. 

The Trustees of the Charity are also Directors of the Company.  They make up the ILP Executive Board: the governing body of the Institution.  This team is responsible for the regulatory and financial functions with the Chief Executive Officer holding the position of Company Secretary. 

During the year, the Trustees of the Institution had due regard to the Charity Commission's public benefit guidance when exercising their powers and duties.  The Executive Board considers that the Institution's objectives and activities are for the public benefit.  This consideration underpins the projects and decisions made by the organisation. 

Page 2 



**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

At the start of 2020, the members of the Executive Board were: 

|President|Anthony Smith|
|---|---|
|Senior Vice President|Vacant|
|Immediate Past President|Colin Fish|
|Junior Vice President|Fiona Horgan|
|Honorary Treasurer|John Sutcliffe|
|Honorary Treasurer|James Duffin|
|Co-opted Board Member|Kevin Grigg|
|Co-opted Board Member|Alan Jaques|
|Chief Executive Office (non-voting)|Tracey White|



At the instigation of the Chief Executive, a request for expression of interest in all posts is sent to the two serving treasurers and every vice president serving at the commencement of each calendar year. 

Expressions of interest are considered at a meeting of the Executive Board and the previous five Past Presidents, as defined in the Articles. 

We held our Annual General Meeting on the 9th of September 2020 and as a result the Executive Board comprised: 

|President|Anthony Smith|
|---|---|
|Senior Vice President|Fiona Horgan|
|Junior Vice President|Vacant|
|Immediate Past President|Colin Fish|
|Honorary Treasurer|John Sutcliffe|
|Honorary Treasurer|James Duffin|
|Co-opted Board Member|Kevin Grigg|
|Co-opted Board Member|Alan Jaques|
|Chief Executive Office|Tracey White|



Vice-Presidents, the Honorary Treasurers and Immediate Past Regional/LDC Chairs are eligible to apply for the JVP position. 

The posts of Junior Vice President, Senior Vice President, Honorary Treasurer and Assistant Honorary Treasurer are subject to annual appointment in line with the requirements of the Institution's Articles of Association. 

Given the extraordinary circumstances of 2020 brought about by the Covid-19 Pandemic and subsequent lockdowns it was agreed that the recruitment process for the vacant role of Junior Vice President would not begin until the end of 2020 with a postholder confirmed at the 2021 AGM. 

## **Volunteers** 

The ILP Council; comprising Regional Representatives, Vice-Presidents, YLP and the Executive Board meet regularly to discuss, and co-ordinate ILP activities and initiatives. 

Young Lighting Professionals (YLP) is a section of the ILP focussing on how best to serve members aged 35 or under, or in the first few years of their lighting career, supported by a volunteer YLP committee. 

Vice Presidents take responsibility for key areas within the Institution, supported by committees, working groups and other volunteers. 

Page 3 



**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

At the start of 2020, the following Vice Presidents were in post: 

Membership Development Glen Warner Architectural Graham Festenstein Local Authority Ian Jones Infrastructure Rebecca Hatch Technical Haydn Yeo Education Kimberley Bartlett Government & Policy Alistair Scott Contracting Steve Biggs Products Scott Pengelly Engineering Council Guy Harding 

## **Financial review** 

As can be seen on the Statement of Financial Activities, turnover in 2020 is £489,989. The net movement in funds which includes losses on investments is (£148,324). The total funds on the Balance Sheet at 31 December 2020 is £1,464,611, compared with £1,612,935 at 31 December 2019. 

In March 2020 the country went into lockdown due to the COVID-19 pandemic. This resulted in staff working from home for the remainder of the year and all face-to-face training, events and exhibitions being cancelled or postponed. Whilst ILP quickly launched online webinars and developed online training courses, the pandemic impacted on ILP's finances. The treasurers and finance manager worked on new budgets which were regularly presented and discussed by the Executive Board.  A year-end forecast was calculated and monthly valuations on investments were requested from 121-Advice Ltd. These actions mitigated the loss for the year. 

The process for budget setting of events, training courses and exhibitions continues to be reviewed and the processes put in place ensure that these are accurately set, monitored and reviewed after the event has taken place. The ILP continues a rolling programme of market-testing for the provision of goods and services. 

A full set of ILP accounts is prepared each quarter and these are compared to the budget. The accounts are discussed and approved by the Executive Board. 

The ILP's Executive Board remains committed to providing value for money services and benefits to the members and account should be taken of the wide range of activities and initiatives carried out by the President, Vice Presidents, the Chief Executive and staff, and by members themselves.  All these people are to be congratulated on the excellent work which has been done during the year, in difficult circumstances, and it must not be forgotten that a lot of this is carried out by members in their own time, unpaid and with the generous support of their companies for which we are very grateful. 

## **Investment policy and objectives** 

The day-to-day management of the charity's investments is carried out by the investment managers under instruction from the trustees. The managers are responsible for selecting appropriate investments to provide both income and capital growth. 

There were no changes in the investment policies of the fund which continue to be the pursuit of real growth through a wide range of investments coupled with a low risk, high return on certain cash investments and Government stocks. 

## **KEEPING THE LIGHTING COMMUNITY CONNECTED** 

Despite the challenges presented by local and national lockdowns in response to the Covid situation, the ILP continued to deliver opportunities for our community to come together to learn, network and engage in CPD. 

Our team at Rugby worked hard to develop creative new ways for our members to continue to connect and developed several new initiatives over the year. 

Page 4 



**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

## **Hi Lights** 

Three weeks after the UK national lockdown was announced, the ILP launched Hi Lights, an online welcoming session for everyone in lighting.  Connecting lighting professionals from across the world, the 2-hour drop-in sessions provide networking sessions that: 

- Give speedy advice from lighting peers. 

- Share inspiration and a chance to bounce ideas off others. 

- Allows professionals to seek help with projects and specifications. 

- Provides space to virtually connect with a group of lighting colleagues. 

Now established as a monthly session, Hi Lights has connected hundreds of professionals from all over the globe, from India to Ireland, from student to Fellows, from manufacturers to designers. 

## **Lighting's Furloughed Friends** 

A LinkedIn group that aims to provide understanding, shared experiences and professional support for furloughed lighting professionals - sharing information, CPD, volunteering opportunities and budget friendly activities. The group is open to everyone, not only those on furlough in the UK or ILP members. 

## **The Light Minded Movement** 

The ILP, IALD, SLL and Zumtobel Group UK launched a social media initiative called the Light Minded Movement. The Instagram project aimed to encourage wellbeing among those working in lighting. A theme was set each week and people were encouraged to post pictures which relate to it. It provided a new opportunity for the lighting community to communicate through images, showing how they are coping with the changes in their working conditions, life at home, family, how their days have changed and what they are doing to keep mentally well. 

## **Writing, Lighting and Night - An Ever-Expanding Booklist** 

The Institution and the International Night-time Design Initiative (NTD) developed a public, co-hosted, curated resource, "WRITING, LIGHTING AND NIGHT: an ever-expanding booklist". The Booklist is interactive and encourages input from all lighting colleagues. 

The Booklist project has been founded to raise awareness of quality books that cover night-time design including lighting, and how these disciplines can have a positive effect on the planet and society. 

## **Lighting United - The ILP's 2020 Online AGM Day** 

In 2020 the ILP's AGM was transformed into a digital day of activities that included: a showcase for our Premier Members, an education update, a chance to meet the LDC committee members across the UK and a quiz hosted by our Young Lighting Professionals (YLP). 

## **KEEPING THE LIGHTING COMMUNITY INFORMED AND UP TO DATE** 

Whilst face-to-face training courses and Lighting Delivery Centre (LDC) CPD activities were halted in March, the ILP continued to offer our community opportunities to develop their professional knowledge and expertise. 

## **Access to Technical Information** 

The Technical Hotline has been created to meet the needs of those ILP members who are busier than ever facing new challenges and responsibilities. The service is available Monday to Friday 9 am - 5 pm. 

Page 5 



**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

## **ILP Online Training Portal** 

The ILP listened to the ongoing needs of our members and the wider professional community by developing an online platform to deliver training courses normally delivered in face-to-face environments. This state-of-the-art resource has the potential to reach those in need of training anywhere in the world, where there is a computer connected to the internet. 

Those working from home, vulnerable people self-isolating, those overseas and those that would prefer not to travel now have access to professional development by the ILP. 

The platform launched with 2 of the ILP's most popular one-day courses: Asset Management Toolkit: Minor Structures (ATOMS) Fundamentals and the Fundamental Lighting course.  During 2021 and beyond we aim to offer all ILP one-day courses online. 

## **ILP Webinars** 

Working alongside our staff team at Rugby, LDC committee members delivered a number of CPD webinars throughout the year. Topics included: 

- Lighting and Covid-19 FAQ 

- Ultraviolet radiation as a means of disinfection 

- Street lighting and Covid-19 

- British standard for road lighting design, updated BS5489-1 2020 

- Lighting public spaces post-pandemic 

- Lighting procurement portals. 

## **Light, Seen** 

At the end of 2020 the ILP launched an interactive initiative developed in collaboration between the ILP and our Premier members. The Light, Seen showcase CPD sessions provide a connection whilst we can't hold face to face exhibitions. 

## **The Lighting Journal** 

The Lighting Journal is distributed to lighting professionals including lighting designers, consultants and engineers.  The Lighting Journal delivers information on all aspects of the lighting profession including technical coverage and development, new products and services, and professional news.  ILP members receive every issue of the Lighting Journal by post or digitally and can also access back issues in the library at Regent House. 

## **The Lighting Column Technical Forum (LCTF)** 

The Forum is an independent section of the ILP.  The group was formed to provide a source of knowledge, expertise and information on all aspects of lighting column specification, design, manufacture, supply, storage and installation together with many of the associated products, materials and treatments. 

Our website continues to provide advice and information to everyone through our free to read pages and pages restricted to members-only. 

Our online member portal allows members to record CPD, access ILP documents, change personal details, pay subscription fees and check membership grades and numbers. 

## **Technical Knowledge and Assistance** 

During 2020, the Technical Committee, led by their Vice President worked on the development of numerous publications. This year saw the publication of four documents: 

Page 6 



**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

## **PLG09 Ensuring visibility within short tunnels** 

British Standard BS5489-2: 2016 Code of practice for the design of road lighting, Lighting of tunnels, is the go-to Standard that defines and advises the lighting requirements in road tunnels. However, when is a tunnel not a tunnel? When it's a short tunnel!. BS5489-2 defines a tunnel as being over 150m in length, but with motorway widening and other infrastructure projects, many highway bridges do not meet the full tunnel lighting requirements but need consideration for all road user groups. This is where PLG09 could be used. 

## **PLG23 Lighting for cycling infrastructure** 

This document updates and supersedes Technical report 23 Lighting of Cycle Tracks. It is a comprehensive review of current lighting standards and guidance and applies them to cycling infrastructure. This document includes guidance for cycle tracks where surfaces are shared with pedestrians and cycle lanes forming either part of the carriageway sharing the space with motorised vehicles or sharing the footway with pedestrians. The document also discusses the need for lighting, environmental and ecology impacts and explains how appropriate lighting levels should be determined including facilities such as storage and parking facilities. 

## **Guidance Note 1 for the reduction of obtrusive light 2020** 

GN01/20 is the 'go-to' document for those dealing with Planning Applications, Environmental Health professionals involved in enforcement of statutory nuisance, lighting engineers, designers, manufacturers, suppliers, specifiers, architects and building services professionals. The document offers advice and examples of good practice to minimise the effect artificial lighting can have on the environment, the night sky, flora, fauna and our neighbours. 

## Guidance Note 11 Determination of Maintenance Factors 

The introduction of solid-state light sources has caused some confusion regarding how their deterioration in light output, due to aging and environmental factors, should be determined. This document aligns with the latest industry thinking for LED lighting and high intensity discharge variants. 

The publication of GN11/20 is intended to give advice to lighting managers, engineers, designers and equipment specifiers to enable information from manufacturers or suppliers to be understood in a consistent manner. 

The document reviews the latest British, European and International Standards, using this as the basis for its recommendations to help eliminate confusion by demonstrating the development of a simpler, more consistent methodology, that takes into account the differing parameters of LED light sources compared with high intensity discharge lamps. 

## **GN10 Night-Time Photography** 

GN10 focuses on ways to carry out night-time photography with an electronic camera in a consistent manner, that can be used for leisure but also in reports, assessments, enquiries to demonstrate the effect of artificial light on the environment. and 

## **KEEPING THE LIGHTING COMMUNITY REPRESENTED** 

## **The Institution of Lighting Professionals meeting with Home Secretary** 

Scott Pengelly and Alistair Scott, who volunteer as the Institution's Vice Presidents for Products and Government & Policy respectively, met Home Secretary Priti Patel at her Witham constituency recently to discuss key issues affecting the lighting industry. This meeting came about as a result of the ILP's 2019 pre-election campaign to highlight the lighting priorities to all prospective MPs. 

## **Letter to the Prime Minister** 

In the first week of the national lockdown in March the ILP's Chief Executive wrote to the Prime Minister urging him to help ensure work was maintained on infrastructure projects. 

Page 7 



**THE INSTITUTION OF LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 31 December 2020** 

## **House of Lords Debate** 

In June, members of the House of Lords debated the economic lessons learned from the Covid 19 pandemic and the measures necessary to repair the UK economy. 

The Institution of Lighting Professionals wrote to each Peer who had applied to participate in Lord Eatwell's debate, highlighting how our members can assist the recovery, help to save the economy and improve public safety quality of life. 

## **Joining Engineering's response to the National Spending Review** 

In a joint paper compiled by the NEPC over 40 engineering organisations, including the ILP, representing more than 450,000 UK engineers recommend that government invests in its proposed actions to help decarbonise the economy, and create a national workforce planning strategy to create jobs and spread opportunities more evenly across the nation. 

## **All Party Parliamentary Group Dark Skies** 

In the Autumn, the ILP responded to a call for information from the APPG Dark Skies.  Following this, the ILP was asked to input on the APPG's 'Ten Dark Skies Policies for the Government' document and it's subsequent national launch in December. 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of The Institution of Lighting Professionals for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the trustees to prepare financial statements for each financial year which 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 those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **AUDITORS** 

The auditors,  Magma Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

Approved by order of the board of trustees on 23 April 2021 and signed on its behalf by: 


A Smith - Trustee 

Page 8 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **Opinion** 

We have audited the financial statements of The Institution of Lighting Professionals (the 'charitable company') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

Page 9 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Based on our understanding of the charity and industry, we identified the principal risks of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006 and Charities Act 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed included: 

- Enquiries with management for consideration of known or suspected instances of non-compliance with laws and regulations and fraud. 

- Challenging assumptions made by management in their accounting estimates. 

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, journal entries crediting revenue, journal entries crediting cash and journal entries with specific defined descriptions. 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

Page 10 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Victoria Craig (Senior Statutory Auditor) for and on behalf of Magma Audit LLP Chartered Accountants Statutory Auditor Magma House, 16 Davy Court Castle Mound Way Rugby CV23 0UZ Date: ............................................. 

Page 11 



**LIGHTING PROFESSIONALS** 

## **THE INSTITUTION OF** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

**(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 December 2020** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>**Charitable activities**<br>5<br>Charitable activities<br>Other trading activities<br>3<br>Investment income<br>4<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>6<br>**Charitable activities**<br>7<br>Charitable activities<br>Other<br>**Total**<br>Net gains/(losses) on investments<br>**NET INCOME/(EXPENDITURE)**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|**2020**<br>**Unrestricted**<br>**fund**<br>**£**<br>**443,591**<br>**17,128**<br>**29,270**<br>**489,989**<br>**18,405**<br>**555,213**<br>**61,811**<br>**635,429**<br>**(2,884)**<br>**(148,324)**<br>**1,612,935**<br>**1,464,611**|2019<br>Total<br>funds<br>£<br>710,945<br>37,924<br>28,416|
|---|---|---|
|||777,285<br>19,670<br>781,624<br>52,434|
|||853,728<br>119,175|
|||42,732<br>1,570,203|
|||1,612,935|



The notes form part of these financial statements 

Page 12 



**THE INSTITUTION OF** 

**LIGHTING PROFESSIONALS (REGISTERED NUMBER: 00227499)** 

## **BALANCE SHEET 31 December 2020** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>13<br>**Investments**<br>Investments<br>14<br>Investment property<br>15<br>**CURRENT ASSETS**<br>Stocks<br>16<br>Debtors<br>17<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>18<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>19<br>Unrestricted funds<br>**TOTAL FUNDS**|**2020**<br>**Total**<br>**funds**<br>**£**<br>**382,620**<br>**893,839**<br>**215,000**<br>**1,491,459**<br>**3,951**<br>**12,931**<br>**89,728**<br>**106,610**<br>**(133,458)**<br>**(26,848)**<br>**1,464,611**<br>**1,464,611**<br>**1,464,611**<br>**1,464,611**|2019<br>Total<br>funds<br>£<br>381,614<br>994,178<br>215,000<br>1,590,792<br>3,536<br>31,609<br>80,025<br>115,170<br>(93,027)<br>22,143<br>1,612,935<br>1,612,935<br>1,612,935<br>1,612,935|
|---|---|---|



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 23 April 2021 and were signed on its behalf by: 


A Smith - Trustee 


F Horgan - Trustee 

The notes form part of these financial statements 

Page 13 



## **THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **CASH FLOW STATEMENT** 

**for the year ended 31 December 2020** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Purchase of fixed asset investment<br>Sale of fixed asset investments<br>Interest received<br>Net cash provided by investing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**2020**<br>**£**<br>**(77,005)**<br>**(77,005)**<br>**(10,863)**<br>**(14,155)**<br>**111,611**<br>**115**<br>**86,708**<br>**9,703**<br>**80,025**<br>**89,728**|2019<br>£<br>(83,444)<br>(83,444)<br>(5,555)<br>(12,877)<br>62,527<br>539<br>44,634<br>(38,810)<br>118,835<br>80,025|
|---|---|---|



The notes form part of these financial statements 

Page 14 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE CASH FLOW STATEMENT** 

**for the year ended 31 December 2020** 

|**1.**<br>**RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING**<br>**ACTIVITIES**<br>**2020**<br>**£**<br>**Net (expenditure)/income for the reporting period (as per the Statement**<br>**of Financial Activities)**<br>**(148,324)**<br>**Adjustments for:**<br>Depreciation charges<br>**9,857**<br>Losses/(gain) on investments<br>**2,883**<br>Interest received<br>**(115)**<br>(Increase)/decrease in stocks<br>**(415)**<br>Decrease/(increase) in debtors<br>**18,678**<br>Increase/(decrease) in creditors<br>**40,431**<br>**Net cash used in operations**<br>**(77,005)**|2019<br>£<br>42,732<br>6,499<br>(119,175)<br>(539)<br>7<br>(1,618)<br>(11,350)<br>(83,444)|
|---|---|



2. **ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1/1/20|Cash flow|**At 31/12/20**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**80,025**|**9,703**|**89,728**|
||**80,025**|**9,703**|**89,728**|
|**Total**|**80,025**|**9,703**|**89,728**|



The notes form part of these financial statements 

Page 15 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

**for the year ended 31 December 2020** 

## **1. STATUTORY INFORMATION** 

The Institution of Lighting Professionals is a charity, registered in England and Wales. Its registered office address is Regent House, Regent Place, Rugby, Warwickshire, CV21 2PN and the registered number is 00227499. 

## **2. ACCOUNTING POLICIES** 

## **Summary of significant accounting policies** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets being investments and freehold property. 

## **Going concern** 

The trustees have assessed the financial position of the charitable company in light of the COVID-19 outbreak. At 31 December 2020 the company had net current liabilities of £26,848 (2019: £22,143 net current assets) and net assets of £1,464,611 (2019: £1,612,935). The trustees have assessed future cash flow forecasts and the potential impact of the outbreak and consider the company to have sufficient resources to meet its liabilities as they fall due for at least twelve months from the signing of these financial statements and have therefore prepared the financial statements on a going concern basis. 

## **Critical accounting judgements and key sources of estimation uncertainty** 

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. 

## (i) Valuation of properties 

The properties held by the charity are sensitive to changes in fair value. A valuation is obtained from a qualified valuer for each property with sufficient regularity to ensure that the valuation is not materially different from the fair value, with interim annual valuations carried out by the trustees. The surplus or deficit arising from the annual revaluation is recognised through the statement of financial activities and transferred to the revaluation reserve. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company. Irrecoverable VAT is shown in the category of resources expended for which it was incurred. 

Raising funds consists of regions' events costs. 

Charitable activities include direct expenditure associated with providing the charitable services and support costs relating to those activities. 

Other resources expended consists of governance costs which include those incurred in the governance of the charitable company and are primarily associated with constitutional and statutory requirements. 

Page 16 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

## **2. ACCOUNTING POLICIES - continued** 

## **Tangible assets and depreciation** 

Tangible fixed assets are stated at cost or valuation less depreciation. 

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:- 

|Computer Equipment|33%|Straight line|
|---|---|---|
|Office Furniture|20%|Straight line|
|Officers Jewels|25%|Straight line|



Tangible fixed assets which represents freehold property is stated at valuation. No provision for depreciation is made on freehold land and buildings as the useful economic life of these assets are of such a length and the residual values are such that they are not materially different from the carrying value and any depreciation would not be material. Residual values are reviewed annually and any permanent diminution in value is provided in the statement of financial activities. 

## **Investment Properties** 

Investment properties are shown at fair value. Any changes in fair value are recognised in the statement of financial activities. 

## **Stocks** 

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are recognised as an expense in the period in which the related revenue is recognised. 

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities. 

## **Funds** 

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.  Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. 

## **Listed fixed asset investments** 

Investments are included in the financial statements at fair value. The statement of financial activities includes net gains and losses arising on revaluation and disposals throughout the year. 

## **Foreign currencies** 

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. 

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of financial activities. 

## **Grants** 

The company has received funding in the form of grants relating to the Coronavirus Job Retention Scheme (CJRS). The grant funding is released to the Statement of Financial Activities in full in the year the conditions of the grant funding have been met. 

## **Operating lease agreements** 

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. 

Page 17 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

## **2. ACCOUNTING POLICIES - continued** 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Financial instruments** 

The charitable company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. 

## (i) Financial assets 

Basic financial assets, including trade and other debtors, cash and bank balances and investments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 

Such assets are subsequently carried at amortised cost using the effective interest method. 

## (ii) Financial liabilities 

Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## **3. OTHER TRADING ACTIVITIES** 

## **4.** 

|Job vacancy service<br>Lighting Delivery Centres' events and meetings<br>Miscellaneous income<br>**INVESTMENT INCOME**<br>Rents receivable<br>Investments income<br>Deposit account interest receivable|**2020**<br>**£**<br>**2,345**<br>**5,868**<br>**8,915**<br>**17,128**<br>**2020**<br>**£**<br>**15,000**<br>**14,155**<br>**115**<br>**29,270**|2019<br>£<br>2,783<br>23,553<br>11,588<br>37,924<br>2019<br>£<br>15,000<br>12,877<br>539<br>28,416|
|---|---|---|



Page 18 

continued... 



**LIGHTING PROFESSIONALS** 

## **THE INSTITUTION OF** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

|**5.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Membership subscriptions<br>Courses<br>Exhibition income<br>Lighting journal<br>Summit<br>Professional lighting guides<br>**6.**<br>**RAISING FUNDS**<br>**Raising donations and legacies**<br>Lighting Delivery Centres' events<br>**Investment management costs**<br>Support costs<br>Aggregate amounts<br>**7.**<br>**CHARITABLE ACTIVITIES COSTS**<br>All of the funds are unrestricted<br>**Provision of charitable services:**<br>Staff costs<br>Courses<br>Summit<br>Exhibitions<br>Lighting journal<br>Technical committee<br>Professional lighting guide production costs<br>Support services|**2020**<br>2019<br>Charitable<br>Total<br>activities<br>activities<br>**£**<br>£<br>**310,629**<br>**309,550**<br>**35,168**<br>**163,867**<br>**-**<br>**13,500**<br>**94,529**<br>**120,399**<br>**-**<br>**98,074**<br>**3,265**<br>**5,555**<br>**443,591**<br>**710,945**<br>**2020**<br>2019<br>**£**<br>£<br>**6,794**<br>7,143<br>**2020**<br>2019<br>**£**<br>£<br>**11,611**<br>12,527<br>**18,405**<br>19,670<br>**Total Funds**<br>Total Funds<br>**2020**<br>2019<br>**£**<br>£<br>**280,825**<br>249,467<br>**17,716**<br>88,365<br>**1,164**<br>56,269<br>**311**<br>9,321<br>**118,670**<br>136,611<br>**381**<br>1,534<br>**4,423**<br>3,081<br>**131,722**<br>236,976<br>**555,212**<br>781.624|
|---|---|
||**555,212**|



Page 19 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

## **7. CHARITABLE ACTIVITIES COSTS - continued** 

Analysis of support services is as follows:- 

|Promotion and publications<br>Technical reports<br>Membership and education<br>Lighting delivery centres and general meetings<br>Bank and finance charges<br>Printing, postage and stationery<br>IT consultancy<br>Premises costs<br>Depreciation<br>Office costs<br>Other costs<br>**8.**<br>**SUPPORT COSTS**<br>**Analysis of other resources expended:**<br>Staff costs<br>Legal and professional costs<br>**9.**<br>**NET INCOME/(EXPENDITURE)**<br>Net resources are stated after charging:<br>Staff pension contributions<br>Depreciation<br>Auditors remuneration<br>Auditors remuneration - non audit services<br>Operating leases|**Total Funds**<br>Total Funds<br>**2020**<br>2019<br>**£**<br>£<br>**10,807**<br>6,743<br>**-**<br>857<br>**2,380**<br>40,032<br>**12,137**<br>67,331<br>**4,457**<br>4,243<br>**3,768**<br>5,755<br>**35,238**<br>29,852<br>**34,571**<br>41,344<br>**9,857**<br>6,499<br>**5,475**<br>5,668<br>**13,032**<br>28,652<br>**131,722**<br>236,976<br>**Total Funds**<br>Total Funds<br>**2020**<br>2019<br>**£**<br>£<br>**50,761**<br>44,559<br>**11,050**<br>7,237<br>**61,811**<br>51,796<br>**2020** <br>2019<br>**£**<br>£<br>**14,585** <br>12,925<br>**9,857** <br>6,499<br>**6,500** <br>6,500<br>**300** <br>300<br>**360** <br>360|
|---|---|
|||
|||



Page 20 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

## **10. TRUSTEES' REMUNERATION AND BENEFITS** 

The members of the council were not remunerated. 

## **Trustees' expenses** 

Travel and subsistence expenses amounting to £1,101 were reimbursed to 1 member (2019: £4,694 reimbursed to 4 members). 

## **11. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Head office<br>The number of employees whose employee benefits (excluding employer pension costs)<br>£70,001 - £80,000||**2020**<br>2019<br>**£**<br>£<br>**294,490**<br>260,759<br>**22,512**<br>20,342<br>**14,585**<br>12,925<br>**331,587**<br>294,026<br>**2020**<br>2019<br>**10**<br>9<br>exceeded £60,000 was:<br>**2020**<br>2019<br>**1**<br>1|
|---|---|---|
||||



The total remuneration of key management personnel were within the range of £80,000 to £89,999 during both the current and preceding year. 

## **12. LIGHTING DELIVERY CENTRES** 

The company operates seven 'Lighting Delivery Centres' (LDC) throughout the British Isles.  These are:- 

Birmingham Bristol Durham Ireland London Manchester Scotland 

The LDC are not separately registered under either the Companies or Charities Acts and operate under the name and control of the Institution of Lighting Professionals. 

Page 21 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

## **12. LIGHTING DELIVERY CENTRES - continued** 

The combined results as shown in the accounts of the above LDC for the years ended 31 December 2020 and 2019 are as follows:- 

|are as follows:-|||
|---|---|---|
|**Income and expenditure**<br>Income<br>Expenditure<br>Deficit<br>Brought forward at 1 January 2020|2020<br>£<br>5,868<br>(6,794) <br>(926) <br>30,495|2019<br>£<br>23,553<br>(34,864)<br>(11,311)<br>41,806<br>30,495|
||29,569||



## **13. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 January 2020<br>Additions<br>Disposals<br>At 31 December 2020<br>**DEPRECIATION**<br>At 1 January 2020<br>Charge for year<br>Eliminated on disposal<br>At 31 December 2020<br>**NET BOOK VALUE**<br>At 31 December 2020<br>At 31 December 2019|Freehold<br>property<br>£<br>**370,000**<br>**-**<br>**-**<br>**370,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**370,000**|Equipment<br>& Officers<br>Jewels<br>£<br>**71,344**<br>**10,863**<br>**(11,115)**<br>**71,092**<br>**59,730**<br>**9,857**<br>**(11,115)**<br>**58,472**<br>**12,620**|Totals<br>£<br>**441,344**<br>**10,863**<br>**(11,115)**<br>**441,092**<br>**59,730**<br>**9,857**<br>**(11,115)**<br>**58,472**<br>**382,620**<br>381,614|
|---|---|---|---|
||370,000|11,614||



## Revaluation: 

The land and buildings were valued at £370,000 on 14 January 2021 by an external valuer, George and Company (Surveyors) Limited, Chartered Surveyors and RICS member. This interim valuation was carried out on a fair value basis. The trustees deem this to be the market value at the year end. 

Historical cost of land and buildings: 

If the properties had not been revalued the historical cost and net book value would be shown as £452,869 and £370,000 respectively. 

Page 22 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

## **14. FIXED ASSET INVESTMENTS** 

|**MARKET VALUE**<br>At 1 January 2020<br>Additions<br>Disposals<br>Revaluations<br>At 31 December 2020<br>**NET BOOK VALUE**<br>At 31 December 2020<br>At 31 December 2019<br>All investments relate to the unrestricted fund.<br>The investments are all listed, stated at market value and comprise:-<br>Managed Funds - UK<br>Managed Funds - Outside UK<br>Cash on deposit<br>**INVESTMENT PROPERTY**<br>**FAIR VALUE**<br>At 1 January 2020<br>and 31 December 2020<br>**NET BOOK VALUE**<br>At 31 December 2020<br>At 31 December 2019|Listed<br>investments<br>£<br>**994,178**<br>**14,155**<br>**(111,611)**<br>**(2,883)**<br>**893,839**<br>**893,839**<br>994,178<br>2020<br>£<br>555,284<br>192,644<br>145,911<br>893,839<br>**£**<br>**215,000**<br>**215,000**<br>215,000|
|---|---|
|||
|||



## **15. INVESTMENT PROPERTY** 

## Revaluation: 

The investment property was valued at £215,000 on 14 January 2021 by an external valuer, George and Company (Surveyors) Limited, Chartered Surveyors and RICS member. This interim valuation was carried out on a fair value basis. The trustees deem this to be the market value at the year end. The comparable historic cost is £45,962 (2019: £45,962). 

Page 23 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued** 

**for the year ended 31 December 2020** 

|**16.**<br>**STOCKS**<br>Goods For Resale<br>**17.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>VAT<br>Prepayments<br>**18.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>VAT<br>Accruals and deferred income<br>**19.**<br>**MOVEMENT IN FUNDS**<br>Tangible Fixed<br>Assets<br>£<br>Unrestricted Funds - General<br>382,620<br>Unrestricted Funds - Revaluation reserve<br>-<br>382,620<br>**Comparatives for movement in funds**<br>Tangible Fixed<br>Assets<br>£<br>Unrestricted Funds - General<br>381,614<br>Unrestricted Funds - Revaluation reserve<br>-<br>381,614|<br>Investments<br>£<br>939,805<br>169,034<br>1,108,839<br>Investments<br>£<br>1,040,144<br>169,034<br>1,209,178|**2020**<br>2019<br>**£**<br>£<br>**3,951** <br>3,536<br>**2020**<br>2019<br>**£**<br>£<br>**5,211**<br>19,750<br>**-**<br>2,078<br>**7,720**<br>9,781<br>**12,931**<br>31,609<br>**2020**<br>2019<br>**£**<br>£<br>**9,398**<br>21,050<br>**7,932**<br>7,740<br>**6,985**<br>-<br>**109,143**<br>64,237<br>**133,458**<br>93,027<br>**2020**<br>Other Net<br>Assets<br>**Total**<br>£<br>**£**<br>(26,848)<br>**1,295,577**<br>-<br>**169,034**<br>(26,848)<br>**1,464,611**<br>**2019**<br>Other Net<br>Assets<br>**Total**<br>£<br>**£**<br>22,143<br>**1,443,901**<br>-<br>**169,034**<br>22,143<br>**1,612,935**||**2020**<br>**£**<br>**3,951** <br>**2020**<br>**£**<br>**5,211**<br>**-**<br>**7,720**<br>**12,931**||2019<br>£<br>3,536|
|---|---|---|---|---|---|---|
|||||**2020**<br>**£**<br>**5,211**<br>**-**<br>**7,720**<br>**12,931**|||
||||||||
||||||||



Page 24 

continued... 



**THE INSTITUTION OF LIGHTING PROFESSIONALS** 

**NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020** 

## **20. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 December 2020. 

Page 25 



REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE INSTITUTION OF
UGHTING PROFESSIONALS
Opinion
We have audited the finanaal statements of The InstitutKM of Lighting Prolessionals (the 'tharitable company'l for the year
ended 31 December 2020 which comprise the Statement of Finanaal Activities, the Balan￿ Sheet, the Cash Flow Statement
and notes to the financial statements, induding a summary of significant accounting poliaes. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial slalements..
give a true and lair view of the state of the charitable cc#mpanls affairs as at 31 December 2020 and of its incoming
resources and application of ￿SOurCes, induding its income and expenditure. for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and
have been prepared in accordance wlh the requirements of the Companies Act 2C(6.
83$i8 for opinion
We conducted our audit in accordance wth Intemational Standards on AuditiThJ (UK) IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditors. responsibilrties for the audit ol the financial
statements section of our report. We are independent of ihe charitable company in accordance wth the ethical
requirements that are relevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and
we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence
we have obtained is suffiaent and appropriate to provide a basis for our O￿niOn.
Conelu$lon$ relatlng to golng ¢on¢¢m
In auditing the financial staternenls. we have concluded that the trustee's use of the going concem baBiS of accounting in the
preparation of the financial staternenls is appropriate.
Based on the work we have performed. we have not idenlif*d any malerial uncertaintses ￿lating lo events or conditions that,
individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concem for a period of al
least ￿e1ve months from when Ihe financial slalements are aulhorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going cK)ncem are described in the relevant
sections of this report.
Othèr Informatlon
The trustees are responsible for the other inloThnalion. The other inlormaiion Comprises the informatHJn included in the
Annual Report, other than the financial stslements and our Report of Ihe Independent Auditors Ihereon.
Ovr opinion on the financial s18lement$ ￿￿& not cover the other inlormatson and. except lo the extent tslherwise trxplicilly
staled in our report, we do not express any lorm ol assurance conclusion thereon.
In ¢onne¢tion with OUT audit ol the financial slalements. OUT reS￿nsibIlity is lo ￿ad the other infomialion and. in (J¢ing so,
onsider whether the other inft)rmation Is m8ten8lly inconsislenl with the financi81 $18tements or our knO￿￿edge obtained in
the audit or otherwise 8ppear5 to be materially rnisslaled. If we identify svch material incon51s1enc￿5 or apparent material
mis5tatemenls. we are required to determine whelher Ihis gives rise to a material mi5st8lemenl in the fin8nry8151atemenl$
themselve5. If. based on the work we have performed. we condude that there 1$ a matewi81 mi$$181emenl of this other
inftsrrnation, we are required to report that fact. We have nothing to report in Ihis ward.
Oplnlons on other matters preS¢￿be￿ by the Companles Act 2006
In QLJr opinion, based on the work undertaken In the course of the audrt".
the infomatitsn given in the Report ol the Trustees lor thè finanoal year for vthich the ffinancial statements are prepared is
on51Stent with the financi81 statement5." and
the RÈport ofthÈ Trustées has beèn p[￿r￿￿ in actA)Idance 7Mth appli(xblè ￿981 r￿ul[em&nts.
Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE INSTITUTION OF
UGHTING PROFESSIONALS
Matters on which we are reqUI￿d to ￿pOrt by exception
In the light of the knowledge and understanding of the charitable company and its enthronment obtained in the course of the
audrt, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the folkvmng matters %there the Companies Ad requires us to report to you if, in
our opinion..
adequate accounting records have nol been kept or retums adequate for our audit have not been received from branches
not visited by us.. or
the finanaal statements are nol in agreement the attounting records aThJ retums.. or
certain disdosures of trustees. remuneration specified by law a￿ not made,. or
we have not re￿IVed all the information and explanations we require for our audit., or
the trustees were not entitled lo take advantage of the small r￿mpanIeS exemption from the requirement to prepare a
Strategic Report or in p￿parIng the Report of the Truslees.
Re¥pon¥ibilitle8 of trustee¥
As explained more fully in the Statement of Truslees. Responsibilrties. the tfuslees I￿0 are also the directors of the
charitable company for the purposes of C￿panY lawl are responsible lor ihe preparation of the financial slalements and for
being satisfied that they give a true and fair view. and for such intemal conlrol as the Iruslees determine is necessary to
enable the preparation of financjal slalements that are free from material mi5Statement. whether due to fraud or error.
In preparing the financial slalements, the Iruslees are responsible for assessing the charitable cornpany's ability to continue
as a going concern, disdosing, as applicable. matters related lo ￿ng concem and using the going concern basis of
accounting unless the Iruslees either intend to liqU￿ale the charrtable o)mpany or lo cease operations, or have no realistic
alternative bul lo do so.
Our r•8ponslbllltl¢8 for th* audlt of thè financlal ststèmènts
Our objectives are to obtain reasonable assurance about whelher Ihe financial slatements as a whole are free from material
misstatement. whether due to fraud or error. and to 15siie 8 Report of the Independent Auditors that indudes our opinion.
Reasonable assurance is a high level of as8urance. but is nol a guarantee that an audit conducted in accordance with ISAS
IUKI will always detect a material misstatemenl when it exists. Misslalements can arise from fraud or error and are
considered material if. individually or in the aggregate. they coubJ reasi)nably be expected lo influence the econornic
decisions of users taken on the basis of these fmancial Ststemenls.
Irregularits'es. including fraud. are instances ol non-compliance ￿￿th laws and regulations. We design prO￿dureS in line wlh
our responsibilities, outlined above. to detect malerial mis5tatemenls in respect ol irregularities, including fraud. The extent lo
which our procedures are capable of detecting irregvlarilie5. induding fraud is detailed below..
B83ed ￿ our understanding of Ihe charity and industry. we identified the wirrfip81 risks of n0n-cornp1ian￿ with laws and
regulations. and we considered the exlent lo whith non-compliance might have a rn8terial effect on the financial slalernenls.
We 8150 considered those laws and regulations Ih8t have a direct impacl on the financwl 5t8ternenls suth as the Comp8nie$
Ad 2006 8nd Charities ALI 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of
the finanrial 3tslemenls li￿lUdIng the risk ol override ol controls) and determined that the prinupal risks were related to
P051ing inappropriate journal entries and management bias in accounting esbmales. Au(Jit procedure5 perforrned induded..
Enquinès with management for considèratK)n of known or suspÈ(lèd instan￿S of non-¢ompli8n¢e wlh laws an¢J
regulations and fraud.
Challenging a55umptions made by m8n8gemerrt in their a¢u)unting esth"rn8tes.
Identifying and tesbng joumal entries. In particular any joumal entnes posted wth unusual account combinations,
joum81 entriès crediting revènuè, Joumal entritrs credth.ny cash and pumal entries wth specific dèfined descriptions.
There are inherent IiTnrtations In the audrt procedures de5(xibed above. We are less likely to becorne awaie of Instances of
non-compliance wth laws and wulations that a￿ not dosely related to events and transactions reflected In the finanual
statements. Also, the risk of not detecting a material misstatement due to fraud Is higher than the risk of not detecting one
resulting frorn eiror, as fraud may involve deljberate {x)n￿alment by, foi example, foigery 01 intentional misrepresentation5,
or through cdlusion.
A further descriptmm of our responsibilities for the au¢Jit of the finanaal statements is located on the Finanaal Reporting
Council's websrte at bvww.frc.org.uklaudlttsrsres￿nslb1Irtle$. This descripb.on foms part of our Report of the Independent
Auditors.
Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE INSTITUTION OF
UGHTING PROFESSIONALS
Use of our report
This report is made solely to the charitable companrfs members, as a t¥)dy, in accordan￿ with Chapter 3 of Part 16 of the
Companies Act 20(￿. Our audit work has been undertaken so that we might state to the charrta￿e companls members
those matters we are required to slate to them in an auditors, report atyj for no other purpose. To the fullest extent permrtted
by law, we do not accept or assume responsibilty to anyone other than the d)aritable company and the tharitable company's
members as a body, for our audit work, for this report, or for Ihe ownions we have formed.
vi(dI￿ fr
Victoria Craig (Senior Statutory Audilorl
for and on behalf of Magma Audil LLP
Chartered Accountants
Statutory Auditor
Magma House, 16 Davy Court
Castle Mound Way
Rugby
CV23 QUZ
Date..
Page 11