**REGISTERED CHARITY NUMBER: 279393** 

## **CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES AND** 

## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** 

Clive Shedd & Co Chartered Accountants 232 Sladepool Farm Road Birmingham B14 5EE 



**CHARTERED SOCIETY OF DESIGNERS** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** 

||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|8|
|**Statement of Financial Activities**|9|
|**Balance Sheet**|10|
|**Notes to the Financial Statements**|11|
|**Detailed Statement of Financial Activities**|19|





**CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objects** 

The objects of the Society are: 

(i) For the benefit of the community to promote and advance a concern for sound principles of design in all those spheres to which design considerations may apply; 

(ii)  to further the practice of industrial design; 

(iii) to secure for the benefit of industry, commerce and the public a defined and recognised profession of persons well qualified to be designers; 

(iv) to regulate and control for the public benefit all matters of professional practice and conduct concerning the members of the Society; and 

(v)  to encourage and foster the study of design techniques. 

## **Main activities** 

The focus of our work is to create awareness amongst those studying to be designers in professional practice, to develop an understanding of that practice as they progress their career and to engage with them to develop their knowledge of practice by providing them with the means for their Continuing Professional Development. 

To achieve this, our main activities revolve around our strategy of supporting designers at all stages of their career. We do so by operating various programmes that have been developed to mirror a designer’s Career Stage Development. 

There are three key activities or programmes: 

(i) Our membership programme which provides differing levels of membership for design practitioners and those practicing in design related disciplines. 

(ii) Our Course Endorsement Programme which offers a programme of engagement with design education that not only supports those studying design but also those who are delivering the learning. 

(iii) The Register of Chartered Designers which offers designers, whether CSD members or not, a Pathway to a chartered status based on self-analysis and development thus achieving harmony with other professionals in other fields with whom they will work as team members. 

It is this holistic engagement that allows the Society to fulfil the ‘objects’ of its Royal Charter. 

The current strategy for delivering our objects was first set in 2013, reviewed in 2015 and further reviewed in 2016 when changes were made. A planned review of the strategy in 2020 was postponed until 2021 due to the pandemic. This review is currently being considered and will now extend into 2022/23. 

Page 1 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **OBJECTIVES AND ACTIVITIES Public benefit** 

The trustees have given due consideration to the Charity Commission’s Guidance on Delivering Public Benefit under the Charities Act 2011 in both setting the current strategy and in the on-going reviews and any additional developments. 

In particular, the Course Endorsement Programme has been designed to provide support to design students, those delivering design learning and the educational institutions they work for. Our support for those studying and delivering learning to promote best professional design practice benefits the community as those becoming design practitioners will have developed a sound understanding of the principles of design practice including issues around sustainability, material resource, energy consideration, inclusivity and environmental concerns. Through our programme, those delivering design learning are obliged to ensure such issues are included within the curriculum. 

Activities undertaken to deliver public benefit and to achieve the objects set out in our governance documents are further explained in reporting on our achievements and performance. 

Page 2 



**CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **ACHIEVEMENT AND PERFORMANCE** 

The Report of the Trustees informs on matters within the whole period up until the date of the report rather than just focus on the twelve months covered by the Financial Statements. The Trustees consider it to be important for the benefit of members to report on activities up to the date of submitting the accounts. 

As it was for many people and entities, the economic consequences of the pandemic affected the Society more in 2021 than in 2020 when the full effect of the pandemic was experienced. Some older life-long members decided that it was time to retire from practice and either resigned their membership or requested a concessional professional fee. Educational institutions, especially in the UK, were also further hit by the pandemic on top of the financial effects of Brexit in respect of student numbers and research funding, and this too may have affected the number of applications for the Course Endorsement Programme (CEP). 

However, as has been the case in recent years, the Society was able to manage its finances diligently calling on reserves to minimize the effects of what it considers to be a temporary downturn. 

Importantly, the Society was still able to support its members during the year and will continue to do so knowing that the UK economy is still facing economic challenges as we head towards 2023. To repeat from last year's report, the reserves built over the past years resulting from maintaining financial prudence have provided the Society with the means to achieve this support and the Trustees are minded that it is the members who support the Society and its work and therefore the Society must step in to support its members when called upon. 

It should also be noted here that the professional fees for membership were last increased in 2016 and as these will remain constant for the coming year, it means that the last increase will have been 7 years ago and the one before that  20 years ago showing that the Society has only increased its professional fees once in over a quarter of a century. 

The Society continues to deliver its services and benefits mainly online taking advantage of a combination of remote staff working and outsourcing. As a result, the Society will dispose of its premises over the coming year and consider alternative accommodation that supports its current modus operandi, initiatives, and future strategy. 

During 2022/23, the Trustees will continue with the strategic review that was postponed from 2021 which will consider the longer-term development of the Society both in the UK and internationally. Therefore, this report will refrain from setting out future-plans in any detail until they are determined within the strategy, costed, and approved. Future-plans as set out in the 2021 report are being adhered to and still hold true. 

The CSD Course Endorsement Programme (CEP) continues to attract interest from the UK and importantly overseas with an increase in enquiries during 2022. The programme, which was piloted in 2009 and rolled out in 2012/13, has now made more than 100 awards at various levels. 

Following on from the accreditations in Bahrain the Society has received further applications from the Middle East and it is hoped that these will come to fruition during 2023. 

Engagement with the existing courses in the CEP continues with strong links forged with XJTLU in China and Bahrain Polytechnic resulting in the recruitment of new Society members from both staff and student cohorts. Membership recruitment was a key element in developing the CEP and it is proving to widen the cultural diversity of the CSD membership. 

The Society has continued its support of the CSD Validated Courses in Sri Lanka and is proud that it has been able to assist the staff and students there during a considerable period of upheaval in their country. 

Despite the difficulties in conducting physical accreditation visits, the online procedures introduced during the  pandemic in the application process and examination of the courses, has ensured a continuing robust and rigorous accreditation process. 

Once again, the Society wishes to express its thanks to those members who have so generously donated their time to sit on accreditation panels -with all the reading and research that it entails. Equally, the Society is indebted to those who give their time to deliver talks and presentations to students on CEP courses. Such participation not only benefits the next generation of designers but also offers members the benefit of engaging with new designers, learning from their new approaches and discovering new thinking and creativity which they can bring to their own practice. And of course, it also offers valuable CPD for those members wishing to embark on the Pathway to Chartered Designer. 

Page 3 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

There is a continual increase in those wishing to undertake the Pathway and become Chartered Designers especially following the promotion of the use of descriptors to denote a specific field of chartered practice which includes: 'Engineering', 'Product', 'Architecture', etc. The differentiator this offers to designers is proving attractive and will increasingly do so in what is likely to be a difficult competitive market where credentials increase credibility and global harmonization of qualifications becomes increasingly important. 

Professional practice is at the heart of the Society's remit and ensuring our members are suitably qualified to fully undertake their activities with due consideration to their clients, employers and the public is important. In the field of interior design and architecture, designers not only find themselves needing to collaborate with other professionals but also to be able to practice and implement projects alongside them. Towards the end of 2021 the Society applied for recognition by the Construction Skills Certification Scheme (CSCS) in order that suitably qualified CSD members could be automatically eligible to gain a CSCS Professionally Qualified Person (PQP) Card. Following a detailed submission of the Society's framework for professional practice CPSK™and subsequent examination, recognition was granted for full members (MCSD), Fellows (FCSD) and Chartered Designers. These categories of members are now able to apply for the PQP Card simply by requesting a letter, subject to an administration fee, from CSD, which will enable them to attend construction sites to oversee projects alongside their construction counterparts. 

The Society continues to enhance its website to ensure its proposition to members is relevant and beneficial to their practice, supporting them in a variety of areas including legal issues, IP matters, CPD and networking. Recent developments have included the introduction of a 'Resources' section for members where they can find supporting material for a variety of professional development activities, including guides to compiling a portfolio and details and templates for requesting client testimonials. Further development of the Knowledge Bank has seen additional resources for members which are all aligned to CPSK™. 

The monitoring and policing of IP infringements continues with the Society recovering costs from misuse by past members, non-members and institutions. The portfolio of IP held by CSD is an asset which must be protected and as we move to a more internationally active Society, the registration of IP globally becomes increasingly important and costly, and as such all steps must be taken to deter and take action against all infringements. 

The engagement of a professional communications resource to create web content and manage social media platforms has paid dividends with our reach increasing dramatically in terms of viewing numbers and engagements. A focus on design education has driven enquiries for participation in the CEP both nationally and internationally with no less than Expressions of Interest from some 30 different courses within the past year. 

The Society has a great story to tell which it is telling loudly and clearly and most importantly -people are listening. 

Whilst physical international activities are still suffering disruption for a variety of reasons, the Society has maintained communications with its international partners and has been able to extend its reach in terms of CEP and collaborations such as: the Global Educational Policy Network (GEPN) and the Tigullio Design District (TDD) Initiative, both of which continue to feature in the Society's promotional activities. 

Once more and as usual in closing such a report, the Society is minded that its performance and achievements are those of the many people, groups, stakeholders, etc. that make up the Society and therefore we wish to take this opportunity to thank all those who devote time and effort in overseeing the accreditation of courses, give talks to universities, engage with students, assist members, inform the public, participate at events, etc. It is their professionalism and expertise that sets the Society apart from the others. 

The Society is equally grateful for the ongoing commitment its staff and suppliers in delivering for members and the design profession and to the Trustees and management that oversee all the activities reported upon whilst ensuring the sustainability of CSD. 

Page 4 



**CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **FINANCIAL REVIEW** 

## **Financial position** 

The details of the financial activities can be seen in pages 9 to 18 of this report. 

The overall income for 2021 fell by approximately £42,826 from £255,110 in 2020 of which £19,000 was  extraordinary income in respect of the YES 2020 funding. The decrease in respect of membership income was 10% which was expected as the Society offered a 10% discount on professional fees for the year to mark the anniversary of the founding of the Society in 1930 and so was planned and budgeted for. 

Income from the CEP in the year decreased by 9.6%, the reasons for which have been referred to in the previous section. However, the income from the programme in the current year is showing a considerable increase. 

Expenditure in 2021 increased by 14.6% producing a deficit for the year of £34,218 which reduced the balance sheet and reserves to £268,673 which the Society considers to be acceptable during a difficult year and one in which there was considerable investment in communicating with members. 

The Trustees have reviewed the financial situation in respect of the property which has a current book value of £361,748 and have concluded that it is no longer necessary to maintain this asset and will therefore sell the property to liquidate the asset value. The sale will go ahead at an opportune market time. 

During the year the Society utilized funds from the Life Fund to support the Global Education Policy Network (GEPN) to develop communication material promoting the Global Student Wellbeing Index which is a collaboration with Prince Sultan University in Saudi Arabia, Buffalo New York University. The initiative includes some 100 plus universities globally and is supported by UNESCO. The Society is a prominent member in what it considers to be a valuable project in support of students globally at all levels and as such forms part of its charitable remit. 

The Trustees consider the Society's finances and reserves to be sound and well managed. 

## **Reserves policy** 

The Trustees consider it necessary to build reserves capable of funding six months expenditure to enable the charity to continue with its stated objectives. At the current and future anticipated levels of expenditure this would amount to a reserve in the region of £200,000. The reserves policy was due to be reviewed in 2020, however it has been decided to postpone any review until there is a greater degree of certainty within the economic landscape. 

Page 5 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **FUTURE PLANS** 

'Future Plans' that were set out in the 2021 Financial Statements have been addressed as far as resources allowed during what proved to be a difficult year for all. 

Trustees still consider there to be uncertainty with regards to a return to pre-pandemic levels of activity. The possible price inflation alluded to in the previous annual report has materialized in 2022 more dramatically than expected and coupled with global developments will affect our members income and expenditure in the short to medium term. Therefore, the Society will maintain its financial strategy of prudence which has served us well for two decades and is enabling us to manage the ups and downs of the economy whilst maintaining strong foundations for growth. 

As stated in the last report, the expansion of the Society's international remit and influence with initiatives such as GEPN and TDD, is offering further opportunities to develop international collaborations and initiatives and the Society will explore how these might also provide additional revenue streams. 

The planned review of the Bye-Laws and governance is being undertaken by the Trustees and will continue into 2023, when members will be asked to vote through changes to ensure the Society's governance is fit for purpose in delivering its charitable remit and support for the profession in what is a dynamic environment. 

We maintain our Observer Status of WIPO and our ongoing collaboration with the UK IPO and in the coming year we will be exploring further IP initiatives in collaboration with them and our other IP partners. 

The introduction of Designer Talks has proved popular with both members and non-members and so these will continue with developments to promote them further whilst considering how they might be expanded and exploited to support other activities. 

Additional income streams and international expansion will be a priority for the Society in its future-plans and the Trustees will continue to explore all avenues and collaborations to this end. 

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

The registered name of the charity is The Chartered Society of Designers. 

The Chartered Society of Designers was founded in 1930 and is governed by a Royal Charter granted on 19 May 1976 and amended on 13 July 2011. 

## **Council members** 

The persons who were Council members at 31 December 2021 or who served during that year or to the date of signing these financial statements were as follows: 

|Officers:|||
|---|---|---|
|President|Jake Leith PCSD|From 2020 AGM|
|Immediate Past President|Christopher Ramsden PPCSD|From 2020|
|President Elect|Dean Johnson FCSD|From 2019 AGM|
|Honorary Secretary|David Callcott PPCSD|From 2019 AGM|
|Honorary Treasurer|Maggie Law PPCSD|From 2020 AGM|
|Elected Member|David Hopwood MCSD|From 2020 AGM|
||John Sermon PPCSD|From 2019 AGM until 10 July 2021|
||Metin Demiray FCSD|From 2021 AGM|



## **Recruitment and appointment of new trustees** 

Trustees are elected by the Society's members at the Annual General Meeting in accordance with the Society's Bye-Laws. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

279393 

Page 6 



**CHARTERED SOCIETY OF DESIGNERS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **Principal address** 

1 Cedar Court Royal Oak Yard Bermondsey Street London SE1 3GA 

## **Trustees** 

David Callcott PPCSD Metin Demiray FCSD David Hopwood MCSD Dean Johnson FCSD Maggie Law PPCSD Jake Leith PPCSD Christopher Ramsden PPCSD 

## **Independent Examiner** 

Clive Shedd FCA Institute of Chartered Accountants in England and Wales Clive Shedd & Co Chartered Accountants 232 Sladepool Farm Road Birmingham B14 5EE 

Approved by order of the board of trustees on 14 October 2022 and signed on its behalf by: 


Jake Leith PCSD - Trustee 

Page 7 



## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHARTERED SOCIETY OF DESIGNERS** 

## **Independent examiner's report to the trustees of Chartered Society of Designers** 

I report to the charity trustees on my examination of the accounts of Chartered Society of Designers (the Trust) for the year ended 31 December 2021. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Clive Shedd FCA Institute of Chartered Accountants in England and Wales Clive Shedd & Co 232 Sladepool Farm Road Birmingham B14 5EE 

14 October 2022 

Page 8 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** 

|2021<br>Unrestricted<br>funds<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>157,741<br>**Charitable activities**<br>Charitable activities in furtherance of the objects<br>as set out in the Society's Royal Charter <br>54,531<br>Other trading activities<br>3<br>-<br>Investment income<br>4<br>12<br>**Total**<br>212,284<br>**EXPENDITURE ON**<br>**Raising funds**<br>Raising donations and legacies<br>64,723<br>64,723<br>**Charitable activities**<br>Charitable activities in furtherance of the objects<br>as set out in the Society's Royal Charter <br>77,682<br>Other<br>5<br>104,097<br>**Total**<br>246,502<br>**NET INCOME/(EXPENDITURE)**<br>(34,218)<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>302,891<br>**TOTAL FUNDS CARRIED FORWARD**<br>268,673|2020<br>Total<br>funds<br>£<br>175,593<br>60,301<br>19,000<br>216|
|---|---|
||255,110|
||57,663|
||57,663<br>61,907<br>95,527|
||215,097|
||40,013<br>262,878|
||302,891|



The notes form part of these financial statements 

Page 9 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **BALANCE SHEET 31 DECEMBER 2021** 

|2021<br>Unrestricted<br>funds<br>Notes<br>£<br>**FIXED ASSETS**<br>Intangible assets<br>10<br>10,114<br>Tangible assets<br>11<br>364,503<br>374,617<br>**CURRENT ASSETS**<br>Debtors: amounts falling due within one year<br>12<br>36,893<br>Cash at bank and in hand<br>170,651<br>207,544<br>**CREDITORS**<br>Amounts falling due within one year<br>13<br>(50,019)<br>**NET CURRENT ASSETS**<br>157,525<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>532,142<br>**CREDITORS**<br>Amounts falling due after more than one year<br>14<br>(263,469)<br>**NET ASSETS**<br>268,673<br>**FUNDS**<br>16<br>Unrestricted funds<br>268,673<br>**TOTAL FUNDS**<br>268,673|2020<br>Total<br>funds<br>£<br>8,544<br>372,817<br>381,361<br>28,864<br>237,784<br>266,648<br>(60,819)<br>205,829<br>587,190<br>(284,299)<br>302,891<br>302,891<br>302,891|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 14 October 2022 and were signed on its behalf by: 


Maggie Law PPCSD - Trustee 

The notes form part of these financial statements 

Page 10 



**CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **1. ACCOUNTING POLICIES** 

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

The financial statements of the charity, 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. 

The financial statements were prepared in accordance with applicable charity law in the jurisdiction of registration.  The charity's functional and presentation currency is the pound sterling, rounded to the nearest £. 

## **Going concern** 

There are no material uncertainties about the charity's ability to continue as a going concern. 

## **Significant judgements and estimates** 

In preparing these financial statements the charity's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported in the statement of financial activities for the reporting period under review. 

The nature of estimates means that the actual outcome could differ and the charity's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year. 

## **Financial reporting standard 102 - reduced disclosure exemptions** 

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': 

- the requirements of Section 7 Statement of Cash Flows. 

## **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** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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. 

## **Intangible assets** 

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. 

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives: 

Patents and licences - 10% on cost 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Long leasehold - 2% on cost Equipment, fixtures and fittings - 25% on cost 

continued... 

Page 11 



**CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **1. ACCOUNTING POLICIES - continued** 

|**Tangible fixed assets**|||
|---|---|---|
|Website|-|25% on cost|



Tangible fixed assets are initially recorded at cost. 

## **Cash at bank** 

Due to the uncertain nature of the charity's income and expenditure no long term investments are made and all funds are held in readily accessible bank accounts. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Employee benefits** 

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Financial instruments** 

Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost. 

## **2. DONATIONS AND LEGACIES** 

|Donations<br>Subscriptions<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>Website content writing|2021<br>£<br>-<br>157,741<br>157,741<br>2021<br>£<br>-|2020<br>£<br>62<br>175,531|
|---|---|---|
|||175,593|
|||2020<br>£<br>19,000|



continued... 

Page 12 



**CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **4. INVESTMENT INCOME** 

## **5.** 

|**INVESTMENT INCOME**|||
|---|---|---|
||2021|2020|
||£|£|
|Deposit account interest|12|216|
|**OTHER**|||
||2021|2020|
||£|£|
|Support costs|104,097|95,527|



Included in support costs are interest costs on financial liabilities of £10,108 (2020: £9,906). 

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

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. 

## **Trustees' expenses** 

|**Trustees' expenses**|||
|---|---|---|
||2021|2020|
||£|£|
|Trustees' expenses|131|197|



The number of trustees reimbursed for travel expenses was 2 (2020: 1). 

## **7. STAFF COSTS** 

The average number of employees during the reporting period was 2 (2020: 2). 

The number of employees receiving total employment benefits (excluding employer pension costs) in the band range of £90,000 to £99,999 was 1 (2020: in the band range of £80,000 to £89,999 - 1). 

The total of employee benefits received by key management personnel for their services to the charity during the reporting period was £162,724 (2020: £146,404). 

## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

||Unrestricted|
|---|---|
||funds|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|175,593|
|**Charitable activities**||
|Charitable activities in furtherance of the||
|objects as set out in the Society's Royal||
|Charter|60,301|
|Other trading activities|19,000|
|Investment income|216|
|**Total**|255,110|
|**EXPENDITURE ON**||
|**Raising funds**||
|Raising donations and legacies|57,663|



continued... 

Page 13 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** 

||Unrestricted|
|---|---|
||funds|
||£|
||57,663|
|**Charitable activities**||
|Charitable activities in furtherance of the||
|objects as set out in the Society's Royal||
|Charter|61,907|
|Other|95,527|
|**Total**|215,097|
|**NET INCOME**|40,013|
|**RECONCILIATION OF FUNDS**||
|**Total funds brought forward**|262,878|
|**TOTAL FUNDS CARRIED FORWARD**|302,891|



## **9. INDEPENDENT EXAMINER** 

A provision has been made for fees payable for the independent examination of £2,660 (2020: £2,580). A provision has also been made for accountancy services provided by the accountancy practice of which the independent examiner is the principal of £3,160 (2020: £3,070). 

## **10. INTANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 January 2021<br>Additions<br>At 31 December 2021<br>**AMORTISATION**<br>At 1 January 2021<br>Charge for year<br>At 31 December 2021<br>**NET BOOK VALUE**<br>At 31 December 2021<br>At 31 December 2020|Patents<br>and<br>licences<br>£<br>9,928<br>2,740|
|---|---|
||12,668|
||1,384<br>1,170|
||2,554|
||10,114|
||8,544|



continued... 

Page 14 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **11. TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
|**COST**<br>At 1 January 2021<br>Additions<br>At 31 December 2021<br>**DEPRECIATION**<br>At 1 January 2021<br>Charge for year<br>At 31 December 2021<br>**NET BOOK VALUE**<br>At 31 December 2021<br>At 31 December 2020|Equipment,<br>fixtures<br>Long<br>and<br>leasehold<br>fittings<br>£<br>£<br>466,066<br>4,976<br>-<br>2,065<br>466,066<br>7,041<br>94,997<br>3,228<br>9,321<br>1,058<br>104,318<br>4,286<br>361,748<br>2,755<br>371,069<br>1,748|Website<br>£<br>40,141<br>-<br>40,141<br>40,141<br>-<br>40,141<br>-<br>-|Totals<br>£<br>511,183<br>2,065|
||||513,248|
||||138,366<br>10,379|
||||148,745|
||||364,503|
||||372,817|



The long leasehold property was valued on an open market basis at £460,000 by Stevens Scanlan LLP, Chartered Surveyors, on 5 July 2007. 

If the long leasehold property had been recognised at historical cost the net book value at the end of the reporting period would have been £303,746 (2020: £311,410). 

The long leasehold property with a net book value at the reporting date of £361,748 (2020: £371,069) has been pledged as security for the bank loan. 

## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade debtors<br>Other debtors<br>Prepayments and accrued income|2021<br>£<br>28,875<br>120<br>7,898<br>36,893|2020<br>£<br>21,605<br>120<br>7,139|
|---|---|---|
|||28,864|



Page 15 

continued... 



**CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
||2021|2020|
||£|£|
|Bank loans and overdrafts (see note 15)|23,017|11,377|
|Trade creditors|2,716|1,424|
|Taxation and social security|9,568|10,359|
|Other creditors|3,010|26,258|
|Accruals and deferred income|11,708|11,401|
||50,019|60,819|
|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||
||2021|2020|
||£|£|
|Bank loans (see note 15)|263,469|284,299|



## **14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** 

## **15. LOANS** 

Two bank loans are in existence for the Society. A commercial mortgage is secured by a legal charge over the long leasehold property and at 31 December 2021 was outstanding in the sum of £236,485. The interest rate applicable to this loan is 4.28% per annum over bank base rate. 

The other bank loan outstanding at 31 December 2021 in the sum of £50,000 represents a Bounce Back Loan that was advanced to the Society during the year under review. This loan is guaranteed by the UK Government and repayments commenced in  April 2022. 

## **16. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>Anice Alexander fund<br>British Institute of Interior Design fund<br>Life fund<br>Other Donation fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as follows:<br>**Unrestricted funds**<br>General fund<br>Life fund<br>**TOTAL FUNDS**|At 1.1.21<br>£<br>171,902<br>104,778<br>4,184<br>6,501<br>15,526<br>302,891<br>302,891<br>Incoming<br>resources<br>£<br>212,283<br>1<br>212,284<br>212,284|Net<br>movement<br>At<br>in funds<br>31.12.21<br>£<br>£<br>(31,048)<br>140,854<br>-<br>104,778<br>-<br>4,184<br>(3,170)<br>3,331<br>-<br>15,526<br>(34,218)<br>268,673<br>(34,218)<br>268,673<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(243,331)<br>(31,048)<br>(3,171)<br>(3,170)<br>(246,502)<br>(34,218)<br>(246,502)<br>(34,218)|At<br>31.12.21<br>£<br>140,854<br>104,778<br>4,184<br>3,331<br>15,526|
|---|---|---|---|
||||268,673|
||||268,673|
||||(34,218)|
||||(34,218)|



Page 16 

continued... 



**CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **16. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|At 1.1.20<br>£<br>**Unrestricted funds**<br>General fund<br>131,951<br>Anice Alexander fund<br>104,778<br>British Institute of Interior Design fund<br>4,184<br>Life fund<br>6,439<br>Other Donation fund<br>15,526<br>262,878<br>**TOTAL FUNDS**<br>262,878<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>255,048<br>Life fund<br>62<br>255,110<br>**TOTAL FUNDS**<br>255,110|Net<br>movement<br>At<br>in funds<br>31.12.20<br>£<br>£<br>39,951<br>171,902<br>-<br>104,778<br>-<br>4,184<br>62<br>6,501<br>-<br>15,526<br>40,013<br>302,891<br>40,013<br>302,891<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(215,097)<br>39,951<br>-<br>62<br>(215,097)<br>40,013<br>(215,097)<br>40,013|At<br>31.12.20<br>£<br>171,902<br>104,778<br>4,184<br>6,501<br>15,526|
|---|---|---|
|||302,891|
|||302,891|
|||40,013|
|||40,013|



A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>Anice Alexander fund<br>British Institute of Interior Design fund<br>Life fund<br>Other Donation fund<br>**TOTAL FUNDS**|At 1.1.20<br>£<br>131,951<br>104,778<br>4,184<br>6,439<br>15,526<br>262,878<br>262,878|Net<br>movement<br>in funds<br>£<br>8,903<br>-<br>-<br>(3,108)<br>-<br>5,795<br>5,795|At<br>31.12.21<br>£<br>140,854<br>104,778<br>4,184<br>3,331<br>15,526|
|---|---|---|---|
||||268,673|
||||268,673|



continued... 

Page 17 



**CHARTERED SOCIETY OF DESIGNERS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** 

## **16. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>Life fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>467,331<br>63<br>467,394<br>467,394|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(458,428)<br>8,903<br>(3,171)<br>(3,108)<br>(461,599)<br>5,795<br>(461,599)<br>5,795|
|---|---|---|



The Anice Alexander fund has been designated to support women to study or research areas of design. 

The British Institute of Interior Design fund has been designated for the advancement of study in interior design. 

The Life fund has been designated to support members and designers wellbeing. 

The Other Donation fund has been designated as a special purpose fund as this was a large anonymous donation, with the use of this fund to be determined by the trustees. 

## **17. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 December 2021. 

## **18. GENERAL INFORMATION** 

The Chartered Society of Designers was founded in 1930 and is governed by a Royal Charter granted on 19  May 1976 and amended on 13 July 2011. The Chartered Society of Designers is based at 1 Cedar Court, Royal Oak Yard, Bermondsey Street, London SE1 3GA. 

Page 18 



## **CHARTERED SOCIETY OF DESIGNERS** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>Subscriptions<br>**Other trading activities**<br>Website content writing<br>**Investment income**<br>Deposit account interest<br>**Charitable activities**<br>CEP income<br>Other income<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Raising donations and legacies**<br>Salaries<br>Social security<br>Rent and related services<br>Light and heat<br>Telephone<br>Postage and stationery<br>Sundries<br>Travelling<br>Computer systems and website support<br>Repairs and renewals<br>**Charitable activities**<br>Salaries<br>Social security<br>Rent and related services<br>Light and heat<br>Telephone<br>Postage and stationery<br>Sundries<br>Travelling<br>Computer systems and website support<br>Repairs and renewals<br>Carried forward|2021<br>£<br>-<br>157,741<br>157,741<br>-<br>12<br>54,486<br>45<br>54,531<br>212,284<br>49,557<br>4,685<br>4,788<br>115<br>1,409<br>1,385<br>272<br>38<br>2,346<br>128<br>64,723<br>49,557<br>4,685<br>4,788<br>115<br>1,409<br>1,385<br>272<br>38<br>2,346<br>128<br>64,723|2020<br>£<br>62<br>175,531|
|---|---|---|
|||175,593<br>19,000<br>216<br>60,080<br>221|
|||60,301|
|||255,110<br>44,762<br>4,039<br>4,715<br>190<br>1,068<br>124<br>214<br>150<br>2,170<br>231|
|||57,663<br>44,762<br>4,039<br>4,715<br>190<br>1,068<br>124<br>229<br>150<br>2,170<br>231<br>57,678|



This page does not form part of the statutory financial statements 

Page 19 



## **CHARTERED SOCIETY OF DESIGNERS** 

|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**<br>**FOR THE YEAR ENDED 31 DECEMBER 2021**<br>**Charitable activities**<br>Brought forward<br>Staff training costs<br>Advertising and promotions<br>CEP miscellaneous expenses<br>Miscellaneous event expenses<br>**Support costs**<br>**Governance costs**<br>Trustees' expenses<br>Salaries<br>Social security<br>Rent and related services<br>Insurance<br>Light and heat<br>Telephone<br>Postage and stationery<br>Sundries<br>Accountancy<br>Computer systems and website support<br>Loss on exchange differences<br>Repairs and renewals<br>Subscriptions<br>Irrecoverable VAT<br>Bank charges<br>Patents and licences amortisation<br>Long leasehold depreciation<br>Equipment, fixtures and fittings depreciation<br>Bank loan interest<br>Total resources expended<br>**Net (expenditure)/income**|2021<br>£<br>64,723<br>-<br>12,500<br>459<br>-<br>77,682<br>131<br>49,557<br>4,685<br>4,788<br>2,960<br>115<br>1,409<br>1,385<br>272<br>6,360<br>2,345<br>-<br>128<br>2,189<br>3,647<br>1,997<br>1,170<br>9,321<br>1,058<br>10,580<br>104,097<br>246,502<br>(34,218)|2020<br>£<br>57,678<br>18<br>-<br>3,620<br>591|
|---|---|---|
|||61,907<br>197<br>44,762<br>4,039<br>4,715<br>2,460<br>190<br>1,068<br>124<br>214<br>6,363<br>2,170<br>107<br>231<br>1,672<br>3,168<br>1,866<br>845<br>9,321<br>900<br>11,115|
|||95,527|
|||215,097|
|||40,013|



This page does not form part of the statutory financial statements 

Page 20