INCORPOHATED
CuiouE
The Institute of Automotive Engineer Assessors
Financial Statements
For
31 December 2024
A Company Limiied by Guarantee and not having a Share Capital
Company registration Number 0350568 Charity Number: 273452

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Flnanclal Statements
Year ended 31 December 2024
Contents
Page
Members of the council and professional advisers
Council's annual report (ineorporating the directors re￿1?
Independent examine¢s rewl
Ststement of financial activi¢ies
10
Statement of financial position
Accountin9 policies
12
Notes to the financial staterr*nts
1S

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Members of the Council and Professional Advlsers
Year endgd 31 December 2024
The Mgmbgrs of the Councll Preshlent Chaimlan D Punter
P8St president
PresKlenl Elect
D Power
P 8rigg$
Members
C Aplin
K Ashton
D Hollry•vay
G Hunl
C Jones
L Minton
P Roath
C Robins
J Russell
Asimpson
R Stone
Taylor
M Wells
V Whittle
(apwinled 24 April 20251
(resigned 1 April 20251
{re5wned 1 April 20251
(resioned 1 April 20251
(resigneij 1 April 20251
(appointed 24 April 20251
{re5igned 1 April 20251
(appointed 10 April 2025)
{appoinled 24 April 202S)
(appointed 24 April 2025)
Offlcers
Finance Olker
Company Secretary
G Hunt
R W8Thington
Company Number
0350568
Charty Number
273452
Registered Office
8 Lodge Fami Business Centre
Cast￿thorpe
Milton Keynes
MK19 7ES
Independent Examiner
Carl Elsby ACA
Elsby & Co {Sywelll Ltd
This1￿ Down Bam
Holcot Lane
Sywell
Northampton
NN6 OBG
Bankors
Lbyds TSB
22 Condui( Street
L￿hr￿Id
Slaffordshire
WS136JS

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
The Council's Annual Report {In¢orpordting the Directors. Report}
Year ended 31 Docember 2024
The Counol members. who are also Directo￿ tor the purposes of the Companie5 Act. present their
ieport and the financial ststemenls of the charity fty Ihe year ended 31 December 2024.
Ob
ecllves & actlvltles
Principal activity
The activty of the Institute conlinues to be that of a professional association, the main obje¢t of which
is to pfomole and develop for the public benefit the s￿ence of the design, manufacture and relaled
technology of motor vehKles and the science of repair of. and risks arising trom, the use of road
vehicles and lo furthei public eduCat￿n therein. To this end. the Institute designs and sets a syllabus
for students lo study and prepare for the InslitLrte's written examinations. The Institute encourage and
approve Education Insti(ules and private Organisations to offer the Institute exams and a di5tan¢o
leaming package is available with tutor guidance for indNiduals. The Institute also organises a
praclul tompetence assessment and since late 2017 the revised Code of Pracli¢e for disposal of
motor veh￿Ie salvage named the Institute as a leaming body whom operates assessed oul￿me
testing of vehicle damage assessors wshing to be endorsed for calegorising Sa￿age.
Aims and ob5ectives
The aim of the TnJ51ees remaineil as ever to ensure th81 the Institute continues to provide relevant
and coherent membership and educatton standards that support the Member5 and complemented the
industrie5 where they work. The ongoing focus of the Counctl was lo promote Ihe Education
Sland8rds and QualÉfutions for mgmbershi? and continue lo align these to membership grades.
The main area of developmenl in 2024 was the continued use of technology lo coincitJe with key
relationships in the industry lo albw the IAEA to forge a c￿r way ahead and ensuie its members are
relevant and equipped lo deal wrth the rtgors of m(Klern vehicle assessing.
The Inslilule continues to be committed to pmwdin9 the motor veh￿Ie repair industry. insurance
industry, legal profession. m¢Xor vehicle salvage operators and members of the publi¢ who require
reliable high qualty professional assessment serV￿e with independent information ?nd guidance.
Compliance lo the Institute rules and requirements in the use of Ihe Inslilule logo and the use of post-
nominal letters continued to be pursued rworou3ty to ensure the confKJence of all concerned.
The Trustees have had due regard lo the Charity's ConNnission's guidance on public benefft in
exercising their p¢)wers or dulles.

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Tho Councll's Annual Report (Incorporaling the DlrectoTs' Report)
Year ended 31 Decembor 2024
Achlevements and erfomance
Education. TraiTning and Benchma￿{n9
The Council. through its education group. continues to Wotk on updating the education syllabus.
providing support to students and availability of Ihe exams. wth accessibility and recognf(ion in the
market being the priorty.
Vvofking over 2024 and into 2025 the latest code of Pract￿ for salva9e cale90ri5alKJn from the ABI
has been assisted by the IAEA in its ereation. and we continue to be the onty certification centre in use
to assess candidates as frt Pu￿¢)Se in this irrwrtant role.
On a side note, the IAEA has run and awarded the only recognised competilion for vehicle damage
assessment in the UK driving the best from the best.
2024 was our final year as an affiliale for eThJineering council UK. and the focus was to ensure that we
remain compliant in our appr¢xh for our memters. as we move t¢Mards a new five year plan in 2025.
We have maintained our positK•n wthh the ABI for the code of practice for the ¢alegorisalKryn of
safvage. with our trustees committing almost a month's worf( of voluntary work to ensure this remain5
fft for purpose and worthy of its qualifKalion status.
ilst our membership continues to decline due lo the age groups of our members, we are heartened
by the election of committed members from a variety of backgrounds that will bring MO￿ ch8n9e, and
disruption to the mathet as needed.
Public Relations andMa￿etsng
The Instiiute continues lo provide the independent validatN)n of IMI Veh￿Ie Damage Assessments
Physical events have been varied in a number of our ￿lon$, but we continue to support this where
we ¢an and look to enhance our online offering in 2025.
Council members have been active￿ raising the profile of the Institute with a range of bodies, and a
number of key even15 were attended in 202415 to raise the profile and awareness of the Insli(ute.
These included: Bodyshop Event. ITAI Crash Day. ABP conference. ATF awards and a regular
attendance al ABI tschnical commitiee to name a few.
The Assessors Joumal goes from strength to slreThJth. with more features. inl8re$l and new member
benefits coming on board. which we are reminded by the FIEA that we operale probably the best
publi¢atb)n in this space in the world.
Our financial affairs continue to be eypertty administered by GP Financial Managernent Ltd.

The Instltute of Automotive Engineer Assessors
A Company Limited By Guarantee
The Council's Annual Report Ilncorporating the Directors. Report)
Year ended 31 December 2024
Flnanclal revlew
Results for the year
The principal Source of income to the Charity ￿ntinUeS to be member subscription$. supplemented by
i(s education aCtN￿"es. As indicated bek)w there ha5 been a shift in the income for 2024. which is a
direct result ol the AQP Re-accredrtation process that lake$ place every S year5 for relevant vehKle
salvage code assessors.
The resu￿ of our aCtN￿leS. the su￿lUS for the year 2024 amunted 10 £130.943 {2023: deficit
£53.921}.
The Council Close￿ monitor the Institute finances to ensure there is ￿ntInued su5tainabilty. All
aclivilies relale lo UnreStr￿ted funds.
RgseNes pollcy
The Council has reviewed the charity's ￿qUirements for reserves tsking account of the identified risks
to the organisatKsn. The policy has been reviewed by the eouncil and in the existing economic climate
il was agreed a policy should be adopted whereby the unre51ricted lunds of the charity should
rep￿sent a minimum of yeais of its annual expenditure to support Working capital requiremertls
such that in the event of a significant fall in tts current income levels atMWor membership; thereby, the
Institute ¢ould continue10 5UPPOrt the membershy.
The Council does not anticwate a signifunt change in the company's charitable aclwilies for Ihe
forthcoming year and consequenlty considers ihat the profile of expendiiure in the past two years is a
reasonable guide to assessing the charity's requirements. On lh* basis it is considered the charity
should have a target reSe￿e level of belween £475,000 and £525.CW.
The current level of free ￿erVeS afflounts to £702.018 {excluding fLxed assets) 12023.. £569.9081.
which is still above this prescribed limit. H¢)wever, as the Institutes membership has continued lo show
some decline. these addi(ional reserves will both offsel any drop in income and allow us to continually
invest in initiatives to increase membership in olhei geographies whilst delsvering high quality services
to all members. This has been acknowledged by the Council and the ongoing Business Review will
consKler the chan9in9 Structures in the 8utomotNe sector and the position of the Instilule.
Council will consider augmenting the sefvice arrangemenls lo members and the resources of the
Institute lo assist in maintaining a salisfaclory level of reserves. There is a continuing expecl81ion that
due to the additional resour¢e required for the updating of our infrastructure. impli¢aligns of the slow
recovery of the global economy post pandemic. our reserve5 should remain higher than target levels.
Coun¢il will Continue lo exercise sound judgement and wudence when considering addiiional
expendilure.
Council will eonlinue lo use reserves above the largel levels lo invest in educational Tesources for both
existing and new members as well as promOt￿n of the institute in line with our aims and objectwes.
Council will exercise pru(lence in investing reserves and endeavour to balance this wilh close
IrK)nf(oring of the recovery on both the domestic alKI w•Jer global economies.
Investment powers
In case the Inslilule shall tske Of hold any propety which may be subject to any trusts the Institute
shall onty deal wi(h or invest the same in such manner as allowed by law, having regaid lo sueh trusts.

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
The Council's Annual Report (Incorporating the DirectOf5' Roport}
Year ended 31 De¢ember 2024
Plans for the future
Medium and long tern) strategy
The 51ralegy for our penU￿lMate year12024) for our fve year stratW3y. conbnued lo focus on member
interaction. our core systems. enhancing administrative capabilities. and putting the power of the
inslitule back into the hands of its rneMb￿s and ils duly elected council.
The f￿uS femained on training and educal#)n and the attraclion of new members and ini(iatwes lo
support membership. with a renewal of Se￿ICe$ for our online platfoTh for examination.
Whilst 2024 has been the year of the AQP exam refresh. this was important for us not lo fail, but also
to bolster our funds for 2025 wh￿h will allow us lo expantl our Iraining offering and our mission to
attract new members and continue w relevance in this space.
The long lem strategy will be to secure our affiliate $18tus with engineering Council in 2025. with
review lo expand what they can offer us and members, then mve lo redefine engineering in this
space. and build supported training courses and relevant CPD events for our membets. so we can be
more elfeclwe lo the public we serve.

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
The Council's Annual Report Ilncorporating the Directors. Report)
Year ended 31 D￿eMber 2024
Structure
overnance
nd mana
ement
Governing document and constitution
The ¢ompany Iregislralion number 0350568). wtuch is limited by guarantee and has no shaft capital,
IS govemed by ils Memorandum and Art￿leS of Association. 11 is a registered charity under the Charity
Commission (charity ￿l$tratIOn number 2734521.
Nothing contained within the Memorandum of Association shall be deemed to authorise the Institute to
engage in any trading actwilies on a commercial scale.
The objects of the Institute shall not extend to the negotiathon of relations between worf¢ers and
empl¢)yers or organisations of workets and organisations of employe￿.
The income and pioperty of the In5tlute, When￿ so ever derived shall be applied Sole￿ towards the
promotion of the objecis of the Inslttute and no proportion thereof shall be paid or transferred directly
or indireclty by way of dNidend. bonus or otheiwise howsoevei by way of profil. to the members of Ihe
Inslilule.
Organisation
The organisat￿ll is governed by a Council of up to thirteen Corporate Members elected by the
membership and a Council Appointed Finance Off￿er. there i8 an Executive to progress matters
approved by Coun¢il. There are Ihree Groups, appointed by Council lo prowde policy guidan￿.
Regions operate throughout Ihe UK and Eire.. each having their own eleded officers and commsilee.
who must ensu￿ that their local affairs meet the requirements of the Institute Memorandum of
Assock41ion and Code of Conduct. The Institute penodicalty awards grants to those Regions that
submi( valid claims of expenditure in relation to its acbvtties in prorrKIt￿n of ils charitable objects.
Recruitment and appointment of Trnstees
Trustees are ncfflinaled for appointment to the Council annualty by C￿pOrate Members. Nominaled
candidates are then ft)mially ejected at the Annual General Meeting.
Risk management
The Council is responsible for the management of the busine55 risks faced by the charty. Busin9$$
ri8ks are idenlffied. assessed and conlrots eslablished throughout the year ar￿ discussed at Ihe
Council meetings. A risk register has been in operation since 2017. this register is updated on an
ongoing basis and is reviewed by Council at each nwling to ensu￿ that there are adequate ￿nIr01
processes lo manage iisk.
2024 was a difficull year for claims, as the market had to deal with the boom of work required following
the opening up of commerce after covid 2019. Thks ￿Sumed in a number of businesses expanding to
accommodate for this work in 2023 into 2024 a sudden drop off in demand around April a5 the UK
maikel began to nomalsse its worknow and seasonal trends.
A number of businesses in engineering stiuggle lo address the need and a number of businesses in
repair had lo diversfy whal they do lo ensu￿ their survwal however as we moved lowards the end of
2024 claims volume appeared lo slabili8e.

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
The Councll's Annual Report Ilncorporating tho Dlrectors. Report)
Year ended 31 Decgmbgr 2024
To assess the level of impact that ckims inflation may have on the industry which employs or uses Ihe
services of the Inslilule members. we have fxlofed in multiple scenarios regarding membership levels
inlo our rollin9 S year business plan. This scenarKJ plannin9 helps Council assess the possible effects
in the medium to knng temi.
Benovolent Fund
Members of the In51ilute may volunlarity donate an addi(ional payrr*nl with their annual subscriptions
into The Institute of AutonKJlive Engineer Assess0￿ Benevolent Fund. This fund is a ￿gIstered charity
{regislralion number 1C65102), established by a Declaration of Trust. The purpose of the Fund 15 the
ielief of povety amongst past and present members of the Insti(ule of Automotive Engineer Assessor5
or their dependants. The Benevolent Fund TnJstees are appointed separately to Council members and
have delegated Ihe admintslration of the FurKI lo the Instiluie. The assets and liabilitie5 of the fund are
consequentty not recorded within the financial statefnent5 of the In51ilule. Al 31 December 2024 the
fund had accumulated reserves of £77.67512023'. £77.806).
Reference and administration
Legal status
The company's registered name is The Institute of Automolrwe Engineer Assessors. Ils company
registration number is 03505568 and f(s charity ￿l$tratIOn number is 273452. The addres5 of the
registered off￿e and the names of TwsleeslDirectors are listed on page 1 of this feport.
The Council memberyJ
The Council members who served the Charity during the pericxl are listed on page 1. Council
members are appointed in accordanee with the Company's Memorandum and Art￿leS of Association.
The Company is limited by guarantee and no council member has a beneficial interest in the capilal of
the charitable company. Al Council members are directors of the Company.

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
The Council's Annual Report Ilncorpornting the Dlrectots. Reportl
Year ended 31 December 2024
Statement of Councll's Responslbllftles
The Iruslees. who are also the directors for the purposes of company law. afe responsible for
preparing the Report of the Trustees and the TInar￿al statements in accordance with applicable law
and United Kingdom AC￿LEntIng Standards (United lfjngdom Generally Accepted Accounting
Practice).
Company law requires the twstees to prepare fsnan¢ial stalements for each financial period that give
true and fair view of the state of affairs of the charitable company and of the incoming resouices and
applicalNJn of resourees. induding the income and expènditure. of the charitable company for that
period. In preparing those financial ststemenls. the truslees are required to..
selecl suitable accounling wlicEs and then appty Ihem consistentty.,
comply with appltable accounting standards, including FRS 102, subject lo any material
dep8rtures di￿]05ed and explained in the financial statements,.
state whether a Statement of Recommended Prac￿.￿ (SORP) applie5 and has been followed,
subject lo any material departures which are eX￿ained in the financial statements
make judgements and estimates that a￿ wsonable and prudent:
prepare the finan¢h81 ststements on a goin9 concem basis unless it is inappropriate to
presume that the charitable Company will continue in business.
The trustees are res￿nSIble for keeping proFer acc4Junkn"r*J rets)rts which disclose with reasonable
accuracy at any time the financial posibon of the charilable company and lo enable them to ensure
that the financial statements comply with the Companies Act 20C6.
They are a150 responsible for safeguarding the assets of the charitsble eompany and hence for tskin9
asonable steps for the prevention and deleclion of fraud and other irregularities.
Small company provisions
This report has been prepared in accordan￿ with the special provisions for small ￿MPanieS under
Part 15 of the Companies A¢t 2006.
Registered offi￿.
8 Lodge Fami Business Centre
Casllelhorpe
Milton Keynes
MK19 7ES
Sig[￿d by ￿der of the trustees
k-T
Mr G Hunt
Trustee
Approved by the tnjslees on 3 June 2025

The Institute of Automotive Engineer Assessors
A Company Lirnited By Guarantee
Independent Examin•rf5 Report to the hlemb•rs
Year gndgd 31 DeCeM￿r 2024
I repJt to the thrty trLthes ￿ my eyamnatK￿ ol the c£mkwry tr I1￿ yew ubjed 31
Decembw21f24 vthich ¥e set c￿rt ￿ Feges 10t0 18.
R￿pOnsIbIlItIeS and basls of report
2CIJ61kn 2006 Ad?.
2CQ6 AL# aTrJ ￿e efvJit4e ￿ ThJe[*Th￿t eyanNnaicn, I reFxyI in reS￿t of my &xamin*im of yc4
¢4JnF4ny's aectMJts as ojt Ln* sth 145 oftr* 2011 2011 Act). In c¥ryirg
out my ex￿InatI(￿ I have fc4bAEd the grm CLxnmisgon under stttion 14515)￿)
ofthe2011 kt.
Independent examlnefs statement
n reqli1￿wrt tr*t the aC££￿ts arnl f8rviv# is Mt a matter rJ)nsdwed
+*
UKand Rewtknof (FRS 1W].
Carf Elsby AG4
Elsby & Co (Sy%￿1) Ltd
Thistle Dobvn Bam
Ho(col Lane
Sywell
Northampton
NN6 OBG

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Staternent of Financial Actlvitles (including Income and Expendllure Account)
Year ended 31 December 2024
Total Funds
{unrestri¢tedl
2024
Total Funds
{UnreStri￿edI
2023
Notss
INCOME AND ENDOWMENTS
Charitable activities
Members subscriptions
FIEA subscriptions
Tuition course and exam fees
Salvage code income
Conference inc¢)me
Investments
Bank interest re¢¢N¢d
Other
Other charilabk inccme
132.013
11.323
9.700
142.920
138.720
12,024
12.449
23,373
4,922
10.754
8.694
5.930
312.640
4.¢)05
204,187
TOTAL INCOME
EXPENDITURE
Raising funds
Charf(able activities
9,020
172.677
11.984
246,124
TOTAL EXPENDITURE
181.697
258,108
NET MOVEMENT IN FUNDS
130.943
153,921)
Totsl funds brought forward
Totsl funds carried forward
574.260
705,203
628,181
574.260
The ¢harity ha$ no reco3nised gains or k>sses other than the results for the
year as sel ￿￿t above.
All of the actwrties of the charity are classed as continuing.
Tho a¢¢ountlng pollcles and notes on pages 12 to 18 forni part of these financial statements.
10-

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
31 December2024
2023
Ftx8d assots
Intangible r￿ed assets
Tangib￿ frxed ass¥ts
2,776
3.043
2,776
Debtors
Cash at bank and in hand
24.986
745,328
16,539
610.236
TTO.314
626.775
Credilor5". amounts falling due within one yèar
Net current assots
55.558
702.427
571.217
Net assets
705.203
574.260
Unrestrfctqd Funds
General fund
Designated furnl
Net assets
10
704.794
409
572.951
1.309
705.203
574.260
For the year ending 310ecember 2024 the charity Wds a￿711ed to eXernptl￿ from audit under section
477 ofth8 Companies Act 2(X)6 relaiirnd to small o)mpanies.
Directo￿, resF¥xtsibilibes:
question in accordance with seclion 476:
. Th8 directots acknthytedge their resPo￿l￿MIeS for comptying wrth the requirements of the Act with
respect lo accounting records and Ihe ￿pa￿tiOn of financial slalements.
C￿npanIeS sutyetx lo the small companw.
These financial statements were approved by the lThrd of trustees wid 8Uthoiised for issue on 3 June
2025. and are signed on behalf of the board lyrf:
Mr D Punter
Mgmber of the Cwn(al (Tnth)
Company Number. 0350568
The a¢¢ounting poli¢l¢s and nofe5 on pages 12 to 18 fomi part olthese financial statomgnts.

The Institute of Automotlve Engineer Assessors
A Company Limited By Guarantee
Accounting Policles
Yoar ended 310ecember 2024
General information
The charity is a private company limiled by guaranlee, wiste￿￿ in England and Wales and a
registered charty in England and Wales. The address of the registered office is 8 Lodge Fam
Business Cenlre. Casllelhorpe. Millon Keynes. MK19 7ES and the he&J office is Wled al 1 Tanner5
Drive, Milton Keynes, MK14 5BU
Statement of compliance
The charity conslilutes a public benefft entity as def￿ed by FRS 102. These financial slalemenls have
been prepared in compliance with FRS 102. The Financial Reporting Standard aPpI￿able in the UK
and the Republic ol Ireland.. the Statement of Recommended Pryact￿e applicable to ch8rities
preparing their ac¢oun15 in accordance with the Financial Repthng Standard applicable in the UK and
Republi¢ of ]￿land IFRS 102) (Charities SORP IFRS 102)) and the Charitie5 Act 2011.
Basls of accountlng
The financial slalements have been prepared on Ihe historical cost basis. as modrfied by the
revaluation of certain financral assets and liabilit￿S arKI investment properties measured al fair value
through income or expenditure.
The financial statements are prepared in sterling. whth is the furttional currenGy of the enlty.
Going concern
th du8 regard lo the charity's reserve balances and anticipated ongoing luture revenue streams, Ihe
Trustees consider that the appli¢alion of the going concem concept is appropriate for the preparation
of these financial statements.
Cash flow statement
The Council has taken advanlage of the exemption in the Ch*ities SORP (FRS1021 from including a
cash flow statement in the financial statemenls on the gr￿ndS that the charity 1$ small.
Fund accountlng
Unreslricled funds ¢omprise the accumulated surplus or deficit on Ihe income and expenditure
account. They are available for use at the discretion of Ihe Council in furtherance of the general
objectives of the charity.
Income
Donations are accounted lor when rKeived. All other income is accounted for on an accruals basis.
The members, subscriptKsn period coincides Ihe financial year of the charity. As a consequenee,
any subscriptions received in relation lo the following financial year are deferred and recognised in
that year. Deferred subscription balances are recorded in note 9.
Regions
The Inslilute's affiliated regK)ns operating Ihroughoul the UK. are rectrjnised as branches of the
In$ti(ule in these financial sL*ments.
-12-

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Accountlng Pollcles (¢ontlnuedJ
Year ended 31 December 2024
Expenditure
Expenditu￿ accounted for on an accruals bass as a liabilty is incurred.
Expenditure on raising furKls indudes the costs associated with the annual thariiable dinner, tcgether
with other funclwJns and general PR activities.
charitab￿ activit￿S expenditure c(ryises ttrK>se costs incurred by the ¢hartty in the delNery of ils
activities and Servi￿$ for its member beneficiaries. This being the ￿re aclivty of the charity, il
includes all of the charity's support Costs.
Other managemenl and adminislrath?n expenses include those costs associated with meeting the
¢onslilulional and slalutory fequirements of the charity such as audit fees and costs linked to the
strategic management of the charity.
Intanglble assets
Inlangible assets are initially recorded at cost and are subsequenlty 51aled al ¢osl less any
accumulated amortisalion and impaimienl losses. Any intangible assets carried al revalued amounts,
are ￿corded at the fair value al the dale ol revalUat￿n. as determined by reference to an active
market. less any subsequent accumukted anv)rtisalion and subsequent accumulated impaiment
losses.
Amorti5ation
Amortisalion is calculated so as to write off the cosi of an assel, less ils estimated resiLlual value. over
the useful life of that asset as follryws=
Digital leaming platfoFrn
- 33.3% straKJht line
Tangible assets
Tangible asse15 are initially recorded at cost. and Subsequent￿ sLqted at cost less any a￿uMUlated
depreciation and impairment losses.
Depreciation
Dep￿cIall0n is ¢akulated so as to write off Ihe cosl of an asset. less its estimated residual value, over
the useful econornic life of that assel as follows..
CompLrter equipment
- 25% reducirvJ balance
Off￿e furniture & equipment - 15% reducing balance
No depreciation is provided on the Regalia assets. The Council recc#3nise5 that this Irealment
contravenes Schedule 1 of the Small Companies and Groups (Accounts and Directors Reporti
Regujalions 2008. but considers that the absence of such a provision is immalerial to the reported
results and net assets of the charitable company.
13-

The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Accountlng Policies (¢ofttlntsedJ
Year ended 31 December 2024
Financial instruments
A financial asset or a financk?I liability is fecognised onty wthen the Charty becomes a party lo lh8
¢onlractual provis¢ons of the inslmmenl.
Basic financial instrument3 are initialty recognised at the aMo￿t receriable or payable including any
related Iransaetton eosls.
Current assets and currertl liabilities are subsequentty ffeasured al the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequenlty measured at amortised cost.
Finan¢ig1 ossels that are measured al cost or amortised cost are reviewed for objeclNe evhdence of
impairment at the end of each re￿rtIng date. If there is objectwe evidence of impairment, an
impaimenl10s5 is recognised under the appropriate heading in the statement of financial actwities in
wh￿h the initial gain was recognised.
Any ievetsals of impaimenl are recognwd immedk?lety. lo the extent that the reversal does not result
in a carrying amount of the financrdl asset that exceeds what the carrying amount would have been
had the impaimenl not previousty been recognised.
Criti¢al accounting estlmates and areas of judgernent
In preparing financh81 statements bt is necessary lo make certain judgements. estimates and
assumplions that affect the amounts recegnised in lh8 ffinanctal stslements.
In the view of the twstees in applying the accounting policies adopted, no judgements were required
that have a svJnificanl effect on the 8mounls recognised in the financial slalemenls nor do any
eslimat¢s or assumptions made carry a signifKanl risk of material adjvstrnent in the next financial
year.
Taxation
No provision has been made for t￿atIon as the company's charilable $￿u3 renders it exempt from
UK direcl taxation.
Llmltgd by guarantee
The company is limited by guarantee and has no share capital. The liabiltty of each member in Ihe
event of a winding up is limited lo £1.
The ¢ompany has oblained the consent of the Registrar of Companies to be exempl from Ihe
re4uirement to use the Word-LiMite￿ in Is n￿￿.
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The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Notes to the Financial Statements
Year ended 31 December 2024
Net movement in funds
2024
2023
Nel movement in funds is staled after charging-
Independent ExanNners fee
Depreualion
Armrtisalion
2.000
267
338
Raising fvnds
2024
2023
Public relations
9.020
11.984
9,020
11.984
Charltable activities
2024
2023
Education and tr8inir¥J
Salvage Code exam and project costs
Benchmarking verification costs
conferen￿ costs
Support costs
FIEA costs
Regionaltsranch expenditure
Management and administration eosls
Independent Examinalion l Audit fees
Travel and wuncil members expenses
36,274
1.750
4,365
35.233
1.757
4.085
10.908
59.166
9,208
1.308
117.055
1.800
5.604
57.288
7.783
1,489
55.698
2,000
6,030
172.677
246.124
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The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Notes to the Financial Statements (conlmu
Year ended 31 December 2024
Total expenditure
Depreciation
2024
Other costs
2024
2023
Total
2024
2023
Direct charitab
expenditure
Fundraising and
publicty
Management and
adminislralion
267
1.246 108.682 120.419 108.949 121.665
9.020
11.984
9,020
11,984
63.728 124.459 63,728 124,459
181.430 256.862 181.697 258.108
267
1.246
Employment costs
The charity had no employees during the current or prece(liryJ year.
The members of the cou￿11 received no remunefation during the year. Expenses lolalling
£5.611 {2023: £4.8121 were reimbursed lo 612023.'7) Council mèmbers.
Intangible fixed assgts
Digital
Learnlng
Platfomi
Totsl
Costs
Al 1 January 2024
Additions
6.500
6.500
At 31 December 2024
6.500
6,500
Amortisation
At 1 January 2024
Charge for the year
At 31 December 2024
6.500
6,500
6.500
6.500
Net Book Values
At 31 December 2024
At 31 December 2023
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The Institute of Automotive Engineer Assessors
A Company Limited By Guarantee
Notes to the Financlal Statements (contwiuedj
Year ended 31 December 2024
Tangible fixgd assets
Computer
Office
Equipment Fumlture and
Equipment
Regalia
Total
Costs
At 1 January 2024
Additions
21.71S
6.111
1.671
29.497
At 31 December 2024
21.715
6.111
1,671
29,497
Oepreciatlon
At 1 January 2024
Charge for the year
At 31 December 2024
21.104
153
5,350
114
26,454
267
21.257
26.710
Net Book Values
At 31 December 2024
458
647
1.671
2,776
At 31 December 2023
611
761
1.671
3,043
Debtors
2024
2023
Trade debtors
Other debtors
P￿paYmentS and accrued income
2.935
2,267
19.784
2.517
2,230
11,792
16.539
24.986
Creditor5: Amounts falling due within one year
2024
2023
Trade Credi(ors
Other lax and 5Ctial serurty
Other credil¢xs
Subscriptions in advance
Accruals and defer￿￿ income
28.309
15.791
597
37,181
1,800
488
36.424
2,855
67.887
55.558
Included in other ¢￿dItOrS is £597 (2023.- £488) due to the Institute of Automotive Engineer
Assessors Benevolent Fund. which is administered by the charity- The amount represents the
nel balance of donations received by the charitable company bul not transferred at 31 December
2024 on behaw of that fund.
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The Institute of Automotive Englneer Assessors
A Company Limited By Guarantee
Notes to the Flnanclal Statements (conlwi
Year ended 31 December 2024
10. Reconciliation of movement In tolal funds
Unrestricted Funds
Unrestricted Funds
General
Designated General Designated
2024
2023
2023
2024
Opening total funds
Nel surplus I (deficit) for the financial
year
572.951
1.309
625,702
2.479
130.943
{53.921)
Transfers
{900)
409
1.170
11,170}
1,309
Total funds carried frnrd
704.794
572.951
All assets of the charity ￿present unrestricted fund5.
The designated fund represents arrnunts previously rec￿ed as unreslrided In￿Me eamiad(e(I
for the delivery of learning materiaL8 and payment of other Institute fees for Ihe progression of
membership of employees of the Co-operab've Group.
11. Taxation
The Insli(ute has charitable status and 15 therefore exempl from corporalion tax.
12. Related party transactions
Dullng the year the following trustees received payment in respect of professional serv￿eS
prO￿ded to the charty for vehKle benchmarkiThJ and related travel expenses:
Mr M Taylor
Mr G Hunt
£888
£1.636
There were no other related party transxtions such that require disdosure for the year ended 31
December 2024.
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