##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|**l:>ortfoliovs Benchmark**|**Main**|**JJ Morrison**|**Scottish**|
|---|---|---|---|
|Portfolio:|-9.86%|-8.89%|-8.82%|
|Investment Association
(Mixed Investments 20-
60%)|-9.67%|-9.67%|-9.67%|
##
##
##
##
##
##
##
##
##
##
##
##
##
|!Trustee/Director|Number Eligible to attend|Number attended|
|---|---|---|
|BMMandanna|5|5|
|M Sheehy|5|~|
|D M Murray|2|2*|
|NSFitch|3|3Retired September22|
|S G Price|5|4|
|DASmith|5|5|
|I G Roberts|1|1Resigned February 22|
|CJWalker
|2|2 Resigned May22|
|SNE Stelma|5|5|
|GWCalvert|5|5|
|D Cook
|2
|2|
|R Grisoni
|2
|2|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|President|BMMandanna|
|---|---|
|Deputy President|I G Roberts (Resigned 28thFebruary 2022)|
||M Sheehy (Appointed 1stMarch 2022)|
|Immediate Past President|D M Murray|
|Honorary Treasurer|N S Fitch (Resigned 20thSeptember 2022)|
||G W Calvert (Appointed 20thSeptember 2022)|
|Board Committees' Secretary|DASmith|
|Trustee|C_J_Walker (Resigned 20thSeptember 2022)|
|Trustee|S G Price|
|Trustee|SNE Stelma|
|Trustee|R Grisoni (Appointed 20thSeptember 2022)|
|Trustee|D Cook (Appointed 20thSeptember 2022)|
|Company Secretary|**J**W Avis (Resigned 15thJune2022)|
||D M Murray (Appointed 15thJune 2022)|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|**INCOME FROM:**
LegaciesandGrants
Charitable activities
Other trading activities
Investments
**TOTAL INCOME**
**EXPENDITURE ON:**
Raising funds
Charitable activities
**TOTALEXPENDITURE**
**NET INCOME BEFORE**
**INVESTMENT GAINS**
Net (loss)/gain on investments
**NET MOVEMENTINFUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTALFUNDSCAR~ED**
**FORWARD**
**Note**
2a
2b
3
4
5
6
14
18|
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2022**
£
**229,741**
**2,620,336**
**72,612**
**52,192**
**2022**
£
,.
**Total funds**
**2022**
£
**229,741**
**2,620,336**
**72,612**
**52,192**
Totalfunds
2021
£
2,110,386
325,363
41,015|
|---|---|
||**2,974,881**
**2,974,881**
2,476,764|
||**216,874**
**2,056,113**
**30,925**
**216;874**
**2,087,038**
282,999
2,194,722|
||**2,272,986**
**30,925**
**2,303,911**
2,477,721|
||**701,895**
**(226,218)**
**(30,925)**
**670,970**
**(226,218)**
(957)
155,342|
||**475,677,.**
**(30,925)**•
**475,677**
**(30,925)**
**444,752**
**444,752**
154,385
154,385
**4,748,015**
**266,565**
**5,014,580**
4,860,195
**5,223,692**
**235,640**
**5,459,332**
5,014,580|
##
##
##
|Note
**INCOME FROM:**
Donations
2a
Grants
2a
Charitable activities
2b
Other trading activities
3
Investments
4
**TOTALINCOME**
**EXPENDITURE ON:**
Raising funds
5
Charitable activities
6
**TOTAL EXPENDITURE**
**NETINCOME BEFORE**
**INVESTMENT GAINS**
Net (loss)/gain on investments
14
**NET MOVEMENTINFUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTALFUNDSCAR~ED**
**FORWARD**|**Unrestricted**
**Restricted**
**Total funds**
Total funds
**funds**
**funds**
**2022**
**2022**
**2022**
2021
£
£
£
£
**294,640**
**294,640**
179,295
**8,668**
**8,668**
**2,620,336**
**2,620,336**
2,110,386
**0**
**0**
2,552
**52,192**
**52,192**
41,015
**2,975,836**
**2,975,836**
2,333,248
**217,163**
**217,163**
139,483
**2,056,113**
**30,925**
**2,087,038**
2,194,722|
|---|---|
||**2,273,275**
**30,925**
**2,304,200**
2,334,205|
||**702,560**
**(30,925)**
**671,635**
(957)
**(226,218)**
**(226,218)**
155,342|
||**476,342**
**(30,925)**
**445,417**
154,385
**476,342**
**(30,925)**
**445,417**
154,385
**4,742,121**
**266,565**
**5,008,686**
4,854,301|
||**5,218,463**
**235,640**
**5,454,103**
5,008,686|
##
##
|**FIXED ASSETS**
Tangible assets
Investments
Intangible assets
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**CREDITORS:**
amounts falling due within one year
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Restricted funds
Unrestricted funds
**TOTAL FUNDS**
**Note**
13
14
15
16
17
18
18|£
**891,213**
**1,971,320**
**2,862,533**
**(1,882,552)**
**2022**
£
**2,656,869**
**1,792,482**
**30,000**
**4,479,351**
**979,981**
**5,459,332**
**235,640**
**5,223,692**
**5,459,332**
£
649,821
1,580,387
2,230,208
(2,104,987)
2021
£
2,714,504
1,978,404
196,451
4,889,359
125,221
5,014,580
266,565
4,748,015
5,014,580|£
**891,213**
**1,971,320**
**2,862,533**
**(1,882,552)**
**2022**
£
**2,656,869**
**1,792,482**
**30,000**
**4,479,351**
**979,981**
**5,459,332**
**235,640**
**5,223,692**
**5,459,332**
£
649,821
1,580,387
2,230,208
(2,104,987)
2021
£
2,714,504
1,978,404
196,451
4,889,359
125,221
5,014,580
266,565
4,748,015
5,014,580|
|---|---|---|
|||266,565
4,748,015|
|||5,014,580|
##
##
##
##
||||**2022**||2021|
|---|---|---|---|---|---|
||**Note**|£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible Assets|13||**2,656,869**||2,714,504|
|Investments|14||**1,792,482**||1,978,404|
|Intangible assets|15||**30,000**||196,451|
||||**4,479,351**||4,889,359|
|**CURRENT ASSETS**||||||
|Debtors|16|**750,082**||725,053||
|Cash at bank and in hand||**1,940,110**||1,402,006||
|||**2,690,192**||2,127,059||
|**CREDITORS:**||||||
|amounts falling due within one year|17||**(1,715,439)**||(2,007,732)|
|**NET CURRENT ASSETS**|||**974,753**||119,327|
|||||||
|**NET ASSETS**|||**5,454,103**||5,008,686|
|**CHARITY FUNDS**||||||
|Restricted funds|18||**235,640**||266,565|
|Unrestricted funds|18||**5,218,463**||4,742,121|
|**TOTALFUNDS**|||**5,454,103**||5,008,686|
##
##
|**Cash flows from operating activities**
Net cash provided/ (used in) by operating
activities
**Cash flows from investing activities:**
Dividends, interest, and rents from investments
Purchaseofintangible fixed assets
Proceeds from saleofinvestments
Cash transferred (from)_I_toinvestments
Purchaseofand (loss)/gain on investments
**Net cash usedininvesting activities**
**Changeincash and cash equivalentsinthe year**
Cash and cash equivalents brought forward
**Cash and cash equivalents carried forward**
Note
**21**
4
15
14
14
14
22
22|**2022**
£
**413,350**
**47,879**
**(30,000)**
**333,103**
**(37,225)**
**(336,174)**
**(22,417)**
**390,933**
**1,580,387**
**1,971,320**
**2021**
£
**554,796**
**40,627**
**162,779**
**3,786**
**(198,877)**
**8,315**
**563,111**
**1,017,276**
**1,580,387**|
|---|---|
##
##
##
##
##
##
##
##
##
##
##
##
##
|Long-term leasehold property|100 years straight line|
|---|---|
|Leasehold improvements|15 years straight line|
|Office furniture|1 O years straight line|
|Equipment|3 years straight line|
|Land held under long lease|not depreciated|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Membership
Education
Publications and Technical
Sections and Events
Total 2022
Total 2021|**2022**
£
**171,057**
**2,286,423**
**23,743**
**139,113**
**2022**
£
2021
£
**171,057**
294,236
**2,286,423**1,708,302
**23,743**
51,249
**139,113**
56,599|
|---|---|
||**2,620,336**
~~**ji"**~~
**2,620,336**2,110,386|
||2,110,386
2,110,386|
##
|Advertising Income
Conference Income
Rent income
Total 2022
Total 2021
**4. INCOME FROM INVESTMENTS**
Dividend on listed investments
Bank interest receivable
Total 2022
Total 2021||**2022**
**2022**
2021
£
£
£
**72,612**
**72,612**
81,791
241,020
2,552
**72,612**
**72,612**
325,363
325,363
325,363
**CHARITY**
**UnrestrictedRestrictedT **
I**F**
**d**Tt I F d
**Funds**
**Fundsota**
**uns **
o a
uns
**2022**
**2022**
£
£
**47,879**
**4,313**
**52,192**
41,015
**2022**
2021
£
£
**47,879**
40,627
**4,313**
388
**52,192**
41,015
41,015
37|
|---|---|---|
||- **GROUP AND**||
##
##
|Advertising Expenses
Conference Expenses
Direct costs
Support Costs|**2022**
£
**991**
**(1,280)**
**125,646**
**91,517**
2021
£
14,299
129,217
99,828
39,654|
|---|---|
||**216,874**
282,999|
##
|Membership
Education
PublicationsandTechnical
SectionsandEvents
Total 2022|**Activities**
**Grant funding of S**
**rtC **
**t**
Total
undertaken**directly**
t.it'
**uppo**
**oss **
**acIv**Ies
**2022**
**2022**
**2022**
**2022**
£
£
£
£
**2,366**
**112,533**
**114,899**
**371,918**
**1,130,648**
**1,502,566**
**234,151**
**15,620**
**249,771**
**121,775**
**6,510**
**91,518**
**219,802**
**730,209**
**6,510**
**1,350,319**
**2,087,038**|
|---|---|
##
|Membership
Education
PublicationsandTechnical
SectionsandEvents
Total2021|Activitiesundertaken
directly
2021
£
211,652
543,948
755,600
Grantfundingof
activities
2021
£
SupportCosts
2021
£
206,147
1,197,068
35,906
1,439,121
Total
2021
£
417,799
1,741,016
35,906
2,194,722|
|---|---|
##
##
|**7.SUPPORT COSTS - CURRENT YEAR**||
|---|---|
|Premises costs
General office costs
Project development
Staffmeeting and training expenses
Governance costs
ReleaseofVATProvision
Other staff costs
Support staff costs
Depreciation
Total|**Raising**
**funds**
£
**2,797**
**17,201**
**13,032**
**273**
**7,840**
**0**
**786**
**36,008**
**13,580**
**Charitable**
**2022**
2021
**activities**
£
£
£
**49,886**
**52,682**
21,134
**306,792**
**323,993**
226,048
**232,441**
**245,473**
269,577
**4,869**
**5,141**
32,810
**125,285**
**133,125**
123,834
**(282,000)**
**(282,000)**
0
**28,594**
**29,380**
28,251
**642,241**
**678,248**
717,779
**242,213**
**255,793**
59,342|
||**91,517**
**1,350,319**
**1,441,836**
1,478,775|
##
|Premises costs
Generalofficecosts
Project development
Staffmeeting and training expenses
Governance costs
Otherstaffcosts
Supportstaffcosts
Depreciation
Total
**8.ANALYSISOFGRANTS - CURRENT YEAR**
Grants|
Raising
Charitable
2021
funds
activities
£
£
£
567
20,567
21,134
6,062
219,986
226,048
7,229
262,348
269,577
880
31,930
32,810
3,321
120,513
123,834
757
27,494
28,251
19,247
698,532
717,779
1,591
57,751
59,342
39,654
1,439,121
1,478,775
**Grants to**
..
**Institutions Grants tolnd1v1dualsTotal**
Total
**2022**
£
**6,510**
**2022 2022**
£
£
- **6,510**
2021
£|
|---|---|
##
##
##
|Auditors' remuneration
Under Accrualforprior year's Auditors Remuneration
TrusteeandMeeting Expenses
Legal and Professional fees
Support Staff Costs
Other costs
Total|**2022**
£
**28,800**
**5,200**
**3,949**
**13,563**
**81,614**|2021
£
25,000
7,250
414
7,533
83,207
430|
|---|---|---|
||**133,125**|123,834|
##
|Depreciationoftangible and intangible fixed assets:
- owned by the charitable group
Auditors' remuneration
Auditors' remuneration - under accrualofprior year
Support costs - Auditors' remuneration - Other services|**2022**
2021
£
£
**255,793**
253,028
**28,800**
25,000
**5,200**
7,250
**12,693**
1,150|
|---|---|
||**302,486**
286,428|
##
##
##
|**12. Staff Costs**
Staff costs were as follows:||
|---|---|
|Wages and salaries
Social security costs
Redundancies
Other pension costs|**2022**
2021
£
£
**935,641**
**95,831**
**1,999**
**52,862 **
821,172
82,290
51,140|
||**1,086,333**
954,602|
|Staff|**2022**|2021|
|---|---|---|
||**No.**|No.|
||**21**|17|
|The numberofhigher paid employees was:|**2022**|2021|
||**No.**|No.|
|Inthe band £60,001 - £70,000|**3**|1|
|Inthe band £70,001 - £80,000|**1**||
|In the band £110,001 - £120,000||1|
##
##
##
|**Group and Charity Cost**
At1January2022
Additions
Disposals
At31December 2022
**Depreciation**
At1 January2022
Charge in the year
At31December 2022
**Net Book Value**
At31December2022
At31December 2021|**Long-term**
**leasehold**
**property**
£
**2,785,259**
**Leasehold**
**improvements**
£
**282,245**
**Fixtures and**
**fittings**
£
**43,635**
**Office**
**equipment**
£
**136,265**
**1,707**
**Total**
£
**3,247,403**
**1,707**|
|---|---|
||**2,785,259**
**282,245**
**43,635**
**137,971**
**3,249,110**|
||**196,220**
**27,853**
**162,253**
**27,332**
**42,129**
**188**
**132,297**
**3,969**
**532,899**
**59,342**|
||**224,073**
**189,585**
**42,317**
**136,266**
**592,241**|
|||
||**2,561,186**
**92,660**
**1,318**
**1,705**
**2,656,869**|
||2,589,038
119,993
1,506
3,967
2,714,504|
##
|**Group investments at market value comprise:**
All the fixed asset investments areheldinthe UK
Quoted Investments
Quoted Liquid Funds
Total InvestmentsheldwithFundManagers
**Reconciliation of investmentsheldwith fund**
**managers**
**Market Value**
At1 January
Additions at cost
Disposals at carrying value
Net Unrealised (loss)/gain
MovementinCash
Total|**2022**
£
**1,732,675**
**59,807 **
2021
£
1,955,822
22,582|
|---|---|
||**1,792,482**
1,978,404|
||**2022**
£
**1,978,404**
**336,174**
**(333,103)**
**(226,218)**
**37,225**
**1,792,482**
2021
£
1,790,750
198,877
(162,779)
155,342
(3,786)
1,978,404|
##
##
##
##
|**Cost**
At1 January
Additions
At31December
**Amortisation**
At1 January
Chargeforthe year
At31December
**Net book value**
At31December
**16. DEBTORS**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepaymentsandaccrued income|**2022**
£
**614,378**
**30,000**|
2021
£
614,378
614,378
224,241
193,686
417,927
196,451
**Group**
**2022**
£
Group
2021
£
**435,637**
323,795
**214,888**
42,244
**240,689**
283,782
**Charity**
Charity
**2022**
2021
£
£
**387,235**286,301
**149,940**216,495
**29,046**
5,475
**183,861 **216,782|
|---|---|---|
||**644,378**||
||**417,927**
**196,451 **||
||**614,378**||
||**30,000**||
|||**891,213**
649,821
**750,082 **725,053|
##
##
|Trade creditors
Amounts owed to group undertakings
Other taxationandsocial security
Other creditors
Accruals
Deferred income
**Deferred Income**
Deferred income at 1 January 2022
Resources deferred during the year
Amounts released from previous years
Deferred income at31December 2022|**Group**
Group
**Charity**
**2022**
2021
**2022**
£
£
£
**366,836**
425,899
**366,836**
**76,496**
450,981
**76,496**
"
**21,035**
49,415
**19,483**
**48,369**
98,354
**43,050**
**1,369,816**
1,080,338
**1,209,574**|Charity
2021
£
359,574
1,280
443,634
37,608
85,298
1,080,338|
|---|---|---|
||**1,882,552**
2,104,987
**1,715,439**
2,007,732
**Group**
Group
**Charity**
Charity
**2022**
2021
**2022**
2021
£
£
£
£
**1,080,338**
937,198
**1,080,338**
937,198
"
**1,369,816**
683,422
**1,209,574**
683,422
**(1,080,338)**
{540,282)
**(1,080,338)**
(540,282)
**1,369,816**
1,080,338
**1,209,574**
1,080,338|2,007,732
Charity
2021
£
937,198
683,422
(540,282)|
##
|**Designated funds**
Fixed Assets
British Funds Sections
Scholarships Bursaries and Grants
Asia Pacific Engagement
Learning Materials and Courses
Online Exam Development
Curlew Street Asset Review
Community Engagement
**General funds**
General Fund
**Total Unrestricted Funds**
**Restricted Funds**
John S Ford Memorial
J.J. MorisonFund
loB London Section TrustFund
IBDHopIndustry
**Total of Funds**|**Balance at**
**31**
**Balance at 1**
**Transfers**
**December**
**January 2022**
**Income**
**Expenditure**
**in/(out)**
**Gains**
**2022**
£
£
£
£
£
£
**2,714,503**
**1,707**
**(59,342)**
**2,656,868**
**31,375**
**31,375**
**60,000**
**(6,510)**
**53,490**
**25,000**
**(22,000)**
**(3,000)**
**225,000**
**(245,473)**
**20,473**
**150,000**
**(30,000)**
**(120,000)**
**20,000**
**(20,000)**
**100,000**
**(100,000)**
**3,325,878**
**1,707**
**(363,325)**
**(222,527)**
**2,741,733**
**1,422,137 2,973,174**
**(2,135,879)**
**222,527**
**2,481,959**
**4,748,015 2,974,881**
**(2,499,204) **
**5,223,692**
**26,771**
**26,771**
**213,978**
**(30,925)**
**183,053**
**20,256**
**20,256**
**5,560**
**5,560**
**266,565**
**(30,925)**
**235,640**
**5,014,580 2,974,881**
**(2,530,129)**
**5,459,332**|
|---|---|
##
|**Designated funds**
Fixed Assets
British Funds Sections
Scholarships Bursaries and Grants
Asia Pacific Engagement
Learning Materials and Courses
Online Exam Development
Curlew Street Asset Review
Community Engagement
Young Scientist Symposium
General funds
General Fund
Total Unrestricted Funds
Restricted Funds
John S Ford Memorial
J.J. MorisonFund
loB London Section TrustFund
IBD Hop Industry
TotalofFunds|Balance at31
Balance at 1
Transfers
December
January2021
Income
Expenditure
in/(out)
Gains
2021
£
£
£
£
£
£
2,773,846
(59,342)
2,714,503
369,737
56,599
(99,828)
(295,133)
31,375
60,000
60,000
25,000
25,000
225,000
225,000
150,000
150,000
20,000
20,000
100,000
100,000
13,533
(13,533)|
|---|---|
||3,157,116
56,599
(159,170)
271,333
3,325,878
1,425,342 2,478,244
{2,210,115)
(271,334)
1,422,137
4,582,458 2,534,843
(2,369,285)
4,748,015
26,771
26,771
225,149
(11,171)
213,978
20,256
20,256
5,560
5,560
277,736
(11,171)
266,565
4,860,194 2,534,843
(2,380,456)
5,014,580|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Tangible and Intangible assets
Fixed asset investments
Current assets
Creditors due within one year|**Unrestricted Funds**
**RestrictedFunds**
**2022**
**2022**
£
£
**2,686,869**
**1,792,482**
**2,626,893**
**235,640**
**{1,882,551)**
**5,223,692**
**235,640**
**TotalFunds**
**2022**
£
**2,686,869**
**1,792,482**
**2,862,533**
**{1,882,551)**
**5,459,332 **|**Unrestricted Funds**
**RestrictedFunds**
**2022**
**2022**
£
£
**2,686,869**
**1,792,482**
**2,626,893**
**235,640**
**{1,882,551)**
**5,223,692**
**235,640**
**TotalFunds**
**2022**
£
**2,686,869**
**1,792,482**
**2,862,533**
**{1,882,551)**
**5,459,332 **|
|---|---|---|
|||**235,640**
**5,459,332 **|
##
|Tangible and Intangible assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due after one year|UnrestrictedFunds
2021
£
2,910,955
1,978,404
1,963,643
RestrictedFunds
2021
£
(2,104,987)
266,565
Total Funds
2021
£
2,910,955
1,978,404
2,230,208
(2,104,987)|
|---|---|
||4,748,015
266,565
5,014,580|
##
|Net (expenditure)/income fortheyear (as per StatementofFinancial Activities)
**Adjustment for:**
Depreciation and amortisation charges
Loss / (gain) on investments
Investment income
(lncrease)/decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by operating activities**|**2022**
£
**444,752**
**255,793**
**226,218**
**(52,192)**
**(238,786)**
**{222,434}**
**413,350**
2021
£
154,385
253,028
(155,342)
(40,627)
(161,267)
504,619
554,796|
|---|---|
##
##
|Cashinhand|**2022**
2021
£
£
1,971,320
1,580,387|
|---|---|
##
##
##
##
##
##
##
|**IBD Trading Limited**||
|---|---|
|Subsidiaryname|IBD Trading Limited|
|Company registration number|5584522|
|Basis of control|The Institute of Brewing & Distilling|
|Equity shareholding %|100%|
|Total Assets as at31December 2022|£322,281|
|Total Liabilities as at31December 2022|£320,950|
|Total equity as at31December 2022|£1,331|
|Turnoverforthe year ended31December 2022|£72,612|
|Expenditureforthe year ended31December 2022|£72,612|
|Profitforthe year ended31December 2022|**NIL**|
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