OpenCharities

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

2024-12-31-accounts

Annual Report and Financial Statement 2024

President's Foreword

2024 has been a momentous year for the Institution of Lighting Professionals (ILP) as we proudly celebrated our Centenary. A hundred years of advancing the art and science of lighting, fostering innovation, and supporting professionals across the globe. Yet, while we have taken time to reflect on the past, our focus remains firmly on shaping a resilient, forwardthinking Institution for the future.

Throughout this centenary year, the ILP has continued to strengthen its foundations under Strategy 2026, with particular focus on technical excellence and supporting members through education, qualifications, and community. Our Centenary Lighting Summit and Centenary Celebration Dinner, hosted in London, were a resounding success, attracting record attendance and showcasing the vibrant, diverse future of our profession. The dinner also gave us the opportunity to recognise an unparalleled level of commitment and service to the Institution by Past President Allan Howard, who I was delighted to be able to award the Institution’s inaugural Centenary Medal.

I am delighted to report that the ILP Board of Trustees is now the most diverse and representative in our history, with 42% female representation, younger voices coming through from the Young Lighting Professionals (YLP) group, and greater breadth of industry experience and background.

Another new initiative for our Centenary year, the Women Lighting Professionals (WLP) group has gone from strength to strength, expanding nationally with increased visibility at major events and supporting more women to join and thrive in the profession. Membership across all grades remains strong, with particular success in encouraging upgrades and professional registration.

Our Lighting Delivery Centres (LDCs), Industry-focused committees, YLP, and WLP groups have delivered an impressive programme of in-person CPD events, webinars, and networking opportunities, ensuring that our members are engaged, informed, and connected.

In my Presidential address last year, I called upon all members to champion lighting as a profession of choice. This year, we have delivered through enhanced engagement with the Baker Dearing Trust, London Design & Engineering and Doncaster University Technical Colleges and Engineering Education Scheme Wales lighting careers promotion and outreach programmes to encourage and guide the next generation of lighting professionals to join the profession. We have also showcased inspiring member stories from the last ten decades in our Lighting Journal centenary article series.

As I now pass the Presidency to James Duffin, I do so confident that the ILP is positioned for a vibrant second century. I offer my sincere thanks to every volunteer, member, and supporter who has helped make this year extraordinary. Your passion for lighting continues to inspire and drive us forward.

Perry Hazell

President

Our Mission

The institution's mission is to support and develop lighting professionals and their global contribution for the benefit of the environment and society.

Our Vision

A world illuminated by sustainable lighting solutions that help us live, work, and play without negatively impacting the environment.

Our Values

These are the values that will guide our actions and set the culture for the organisation as it moves into its second centenary.

Professionalism

Ethics

Honesty

Openness

Accountability

Innovation

Our Objectives

The Institution was formed 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 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 21st 1928. It is registered as a charity 268547 with the Charities Commission and company 00227499 with Companies House in England and Wales. The Institution's present

governing document is its Articles of Association 2010, as amended by Special Resolution on September 23rd, 2015. This document is available at www.theilp.org.uk and printed copies on are available on request.

The Trustees of the Charity are also Directors of the Company. They make up the Board of Trustees which oversees governance, finance, and strategic direction, with operational delivery led by our Chief Executive Officer.

During 2024, the Trustees had due regard to the Charity Commission’s guidance on public benefit in all activities and decisions. The Board considers that the Institution’s objectives and activities are for the public benefit.

At the start of 2024, the members of the Board of Trustees were

President: Rebecca Hatch Senior President Elect: Perry Hazell Junior President Elect: James Duffin Immediate Past President: Fiona Horgan Honorary Treasurer: John Sutcliffe Honorary Treasurer: Kieron Jarvis Vice President – Technical: Emily Bolt Vice President – Membership, Qualifications, and Registrations: Peter Raynham Chief Executive Officer (non-voting): Justin Blades

At the instigation of the Chief Executive Officer, a request for expressions of interest in serving on the Board of Trustees is sent to the serving Honorary Treasurers, Vice Presidents, Chairs of Lighting Delivery Centres and other member committees serving at the commencement of each calendar year.

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

We held our Annual General Meeting on May 22[nd] , 2024. The Board of Trustees confirmed at the meeting comprised:

President: Perry Hazell Senior President Elect: James Duffin Junior President Elect: Michala Medcalf Immediate Past President: Rebecca Hatch Honorary Treasurer: John Sutcliffe Honorary Treasurer: Kieron Jarvis Vice President – Technical: Emily Bolt Vice President – Membership, Qualifications,

and Registrations: Chief Executive Officer (non-voting):

Peter Raynham Justin Blades

Membership

The ILP has achieved the highest number of members upgrading their membership since our records began. During 2024, over 22 members upgraded their level of membership to reflect their lighting knowledge, skills and experience, which will inevitably benefit them during their lighting careers.

By the end of 2024, our Membership Bootcamp sessions were delivered to 150- plus members. 22 of those have submitted their applications to upgrade their membership, and over half have making an initial upgrade enquiry.

As members progress through the grades of membership as their careers progress, many are also interested in giving back to the ILP by becoming membership assessors and interviewers, dedicating a few hours a month assisting with the assessment of our new upgrade recruits. We offer regular training, and the additional volunteers have been extremely helpful.

Our annual CPD audit closed in September 2024 with a total of 49 Engineering Council-registered members having submitted their CPD for review. We will continue to audit our members annually, as CPD is a mandatory requirement for an ILP membership.

Volunteers and Community

The ILP Council, comprising the Chairs of our regional Lighting Delivery Centres, YLP & WLP member groups, Local Authority Lighting and Architectural Lighting Committees and the Board of Trustees, meets regularly to coordinate activities and monitor progress against our strategic aims.

An increased number of CPD events were delivered in 2024 across all LDCs and member communities, including topical webinars and innovative inperson sessions focused on key environmental and technological themes.

Young Lighting Professionals (YLP) continues to thrive, focusing on members aged 35 or under or new to the profession, supported by a dynamic volunteer committee.

In its inaugural year, the Women Lighting Professionals (WLP) delivered several events in collaboration with other member communities on topics ranging from mental health to how to stay safe at night. The aim of the new group is to provide a welcoming environment for female lighting professionals to engage and network within the ILP, improving access to CPD and support with their professional development.

How to be Brilliant

Four successful How to be Brilliant events were delivered, including major participation at Clerkenwell Design Week and Light24 offering CPD and guidance to those lighting professionals who work in the architectural lighting sector.

Lighting Live24: Local Authority

Lighting Live24: Local Authority, the premier Local Authority lighting event, took place on Thursday 1st February 2024, at the Mercure Daventry Court Hotel, bringing together just over 200 delegates, including exhibitors and sponsors.

The event featured a range of highly attended sessions, covering key industry topics such as the decarbonisation of street lighting and skills shortages facing the lighting profession. Attendees rated their experience highly, with many citing networking, CPD, and gaining technical knowledge as key reasons for attending.

Exhibitors and sponsors played a crucial role in showcasing the latest industry developments, while networking opportunities allowed professionals to engage with peers and share expertise. Lighting Live24’s success reinforced its significance as a key event for public sector lighting professionals, providing valuable insights, professional development, and opportunities for collaboration.

Centenary Lighting Summit

The ILP celebrated its Centenary with the ILP Centenary Lighting Summit 2024, held on 18th-19th June at the Leonardo Royal Hotel, Tower Bridge, London. The event brought together approximately 300 attendees, including industry professionals, exhibitors, and sponsors, for two days of insightful discussions, technical presentations, workshops, and networking opportunities.

The exhibition area featured leading companies showcasing the latest innovations in lighting technology, while sponsors played a key role in supporting the event’s success. A variety of workshops allowed attendees to engage in learning and in-depth discussions on key industry topics.

Specifically, the dedicated STEM workshop was a resounding success and will hopefully inspire future talent in the field of lighting. Attendees provided detailed feedback, praising the high quality and relevance of the technical papers, the valuable networking opportunities, and the event’s contribution to CPD. A key highlight of the celebration was the Centenary Dinner, held at the Dockside Vaults, which was well attended and provided a memorable evening of camaraderie and reflection on the ILP’s 100-year journey. The success of the Summit reinforced its importance as a platform for professional growth, industry collaboration, and knowledge exchange.

Lighting Journal

The Lighting Journal remains a vital professional resource, distributing essential information on lighting innovations, technical developments, and sector news.

The Lighting Column Technical Forum (LCTF)

The LCTF continues to support lighting column specification and safety initiatives, producing technical guidance and sector best practice updates. The Board of Trustees approved a request for the LCTF to become a fully

incorporated member community of the ILP in 2025. Work is in progress to align the Forum’s activities with the ILP Technical Committee.

Technical Knowledge and Assistance

We continue to develop and publish practical, peer-reviewed technical knowledge in the form of our Professional Lighting Guides (PLG), Guidance Notes (GN) and Technical Reports (TR) to provide members and society at large with dependable knowledge in lighting.

New and revised publications for 2024 include GN08-24 Bats and Artificial Lighting: Updated with latest conservation practices and PLG05 Illuminated Advertisements: Revised for evolving technology and urban design.

CPD Training and Education

The ILP delivered another successful year of CPD and technical training, including the leading exterior lighting training programme, our Exterior Lighting Diploma (ELD).

In addition to the ELD core training programme (including an additional Module A to cater to exceptional demand), we also delivered our Fundamentals of Lighting, Fundamental of Street Lighting, Obtrusive Light and the Environment for Planning and Environment staff and Bats & Artificial Lighting at Night course, based on the new GN08 guidance note.

We also delivered bespoke in-house training for Nulty Lighting Design Consultants in Electric Know How and for Abacus Lighting Limited in Fundamental Lighting.

Representing the Lighting Community

ILP has been active with the following bodies as part of our commitment to engage with relevant stakeholders for the benefit of the lighting profession:

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 end 31 December 2024 have been audited. The auditor issued an unqualified opinion on the annual accounts and reported that the information given in the Report of the Trustees 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.

Financial Report

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). The accounts have been audited by Magma Audit LLP, Chartered Accountants, and approved and signed by the Institution's Board of Trustees.

As can be seen on the Statement of Financial Activities, turnover in 2024 is £1,065,768 being an increase of 24% on the previous year. The net income which includes gains on investments is £54,717. The total funds on the Balance Sheet at 31 December 2024 is £1,619,687 compared with £1,564,970 at 31 December 2023.

A budget was set for 2024, and the accounts were closely monitored against this budget. A full set of ILP accounts were prepared each quarter and presented to the Board of Trustees by the treasurers for discussion and approval. A year-end forecast was calculated in the last quarter and monthly valuations on investments were requested from 121-Advice Ltd (ILP’s investment managers).

Investment policy and objectives

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

The ILP’s portfolio rose in value by 6.74% in 2024 (5.05% during 2023) and this reflects the diversified, controlled risk approach being taken.

The portfolio benefits from a globally diversified portfolio of equity funds with monies allocated to both UK and Global equity funds. The portfolio also has exposure to fixed interest/bond funds as well as a healthy cash reserve.

The move to invest some of the portfolio into funds specialising in technology, infrastructure and other diversifying asset classes has provided excellent returns since February 2016, with notable performances from Allianz Technology Trust (446% total gain), Scottish Mortgage Investment Trust (242% total gain) and First Sentier Global Listed Infrastructure (72% total gain) and Polar Capital Global Healthcare (110% total gain).

Monies continue to be invested monthly to reduce exposure to market volatility and a healthy cash buffer is being retained to provide security and allow the portfolio to take benefit of any short-term opportunities as and when they are presented.

The portfolio is maintained with a view to future growth with an appropriate level of risk and continues to be monitored on an ongoing basis.

Statement from 121-Advice Ltd (ILP’s Investment Managers)

Economic backdrop

2024 was another strong year for global stock markets. Against the backdrop of the ongoing situation in Ukraine and Gaza, the US election, and, to a lesser extent, the UK elections, markets generally performed well.

There did remain some concern later in the year with the announcement of the election of Donald Trump in the USA and fears over expanding trade wars with China and the Far East, as well as concerns regarding the global production and supply of microchips and semi-conductors.

The US markets continued to perform exceptionally well throughout 2024, but a good proportion of this performance was again attributable to the “Magnificent 7” tech stocks; Nvidia, Amazon, Microsoft, Alphabet, Meta, Tesla and Apple, which combined account for almost one third of the market capitalisation of the S&P 500 index in the USA.

All seven companies have market capitalisation greater than $1 trillion, with Apple, Nvidia and Microsoft being in excess of $2 trillion market cap each. The companies have grown their income and profits significantly over recent times, which has been reflected in their share price rises, however, they need to continue to meet market expectations to justify their P/E ratios. The larger the companies become, the progressively harder it is for them to maintain their growth trajectory.

Global economic and geo-political issues remained, and the levels of inflation and interest rates in most markets also continued to concern investors. Inflation was clearly falling from previous highs, but the expectations of the scope and speed at which interest rates would be reduced were not met, reflected in the term ‘higher for longer’.

Many major indices performed exceptionally well in 2024. The largest riser during the year was the US NASDAQ index which represents tech stocks. This increased 28.6% in 2024 building on a 43.4% return the previous year.

The wider S&P500 rose 23.3% (24.2% in 2023), the DAX (Germany) rose 18.8% and CAC40 (France) lost 2.2%.

The ILP’s Board of Trustees 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, 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 Board of Trustees, 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.

John Sutcliffe, Honorary Treasurer and Kieron Jarvis, Honorary Treasurer

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 2024 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:

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 trustees' 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 charitable company'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:

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:

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and charitable sector, 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. 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:

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.

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.

Ryan Parkin (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

The Institution of Lighting Professionals Statement of Financial Activities for the year ended 31 December 2024

INCOME AND ENDOWMENTS FROM
Charitable activities
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2024
Unrestricted
fund
£
993,311
55,196
17,261
1,065,768
68,695
940,855
53,346
1,062,896
51,845
54,717
1,564,970
1,619,687		 2023
Unrestricted
fund
£
810,710
36,075
13,233
860,018
34,717
702,928
51,839
789,484
45,442
115,976
1,448,994
1,564,970

The Institution of Lighting Professionals Balance Sheet At 31 December 2024

The Institution of Lighting Professionals
Balance Sheet
At 31 December 2024
FIXED ASSETS
Tangible assets
Investments
Investments
Investment property
CURRENT ASSETS
Stocks
Debtors
Cash at bank
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS		 2024
Total
funds
£
364,715
1,053,305
-
1,418,020
3,745
143,269
314,810
461,824
(260,157)
201,667
1,619,687
1,619,687
1,619,687
1,619,687		 2023
Total
funds
£
357,380
801,460
267,000
1,425,840
3,475
88,767
192,487
284,729
(145,599)
139,130
1,564,970
1,564,970
1,564,970
1,564,970

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