## # ## |Introduction
by the President Anne Dunford, OBE|| |---|---| |Notice ofAnnual
Members'
Meeting|| |An Overview of2020 from Chair ofTrustees|| |Report from General
Manager|| |Financial
Review from Vice Chair and Treasurer|10| |Reference and Administration
Information|12| |Auditor's
Report|15| |Statement of Financial
Activities|18| |Balance Sheet|19| |Notes forming to the Financial Statements|20| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||| |---|---|---|---|---|---|---| |Refere|nc|e and Adminis|trative
Information|||| |Name ofthe charity|||Ipswich Institute
Reading||Room &Library|| |Charity|Number||304772|||| |Principal|Office||15Tavern Street, Ipswich||IP1 3AA|| |Telephone:|||01473253992|||| |Website|||www. ipswichinstitute.|org.|uk|| |President|||Nlrs A C Dunford OBE|||| |Vice President|||Mr M Spettigue|||| |Trustees|Chair:||Mr C Budd (re-elected|April 2019)||| |Vice Chair||&Treasurer:|Nlrs C Wall (re-elected|April 2019)||| ||||MrJ Field|||| ||||Ilr KFletcher|||| ||||Mr G Smith (co-opted|September 2019)||| ||||Ms A Stewart MBE(elected April 2019)|||| ||||Mr P D Whiley (rewlected||April 2019)|| ||||Mrs G Whitbread|||| ||||Mr KWindsor|||| |General|Manager||Nlr H Pierce (till April);|Ms|JRooks (from April)|| |Auditors|||Scrutton Bland LLP Fitzroy House, Crown|||| ||||Street, Ipswich, IP1 3LG|||| |Bankers|||Co-operative
Bank 9 —11||Queen Street Ipswich|| ||||IP1 1SW|||| ||||Bank ofScotland The|Mound, Edinburgh||EH1| ||||1YZ|||| |Solicitors|||Birketts Solicitors 141-145Princes Street|||| ||||Ipswich IP1 1QJ|||| |Investment||Advisers|Charles Stanley &Co|Ltd|33Lower Brook|| ||||Street Ipswich IP4 1AQ|||| |Property|Advisers||EWS 31 Lower Brook|Street, Ipswich IP4 1AQ||| ## ## ## ## ## ## ## |Year ende|d 31 Decembe|r|2020||||| |---|---|---|---|---|---|---|---| |INCOME||||||2020|2019| ||||||||6| |Income from charitable
activities|||||||| ||Subscriptions
and joining fees|||||67,334|107,039| ||Fees, members'|education||study groups|& lectures|44,627|130,407| ||Educational
trips|and events||||2,650|21,263| |||||||114,611|258,709| |Income from other trading||activities|||||| ||Catering
income|||||42,371|143,128| ||Sales ofbooks and||periodicals|||1,321|1,443| ||Sale ofbook bags,||fines, reservations|||773|701| ||Government
grants||received|||90,862|0| |||||||135,327|145,272| |Income from investments|||||||| ||Property
income|||||42,910|45,594| ||Quoted investments|||||40,272|53,479| ||Interest receivable|||||69|175| |||||||83,251|99,248| |TOTAL INCOME||||||333,189|503,229| |EXPENDITURE|||||||| |Expenditure|on charitable|activities|||||| |Wages and salaries - library|||||(Note 5)|59,7'l4|64,293| ||Direct costs||||(Note 2)|40,802|132,521| ||Premises costs||||(Note 3)|34,818|46,600| ||Support costs||||(Note 4)|76,695|78,194| ||Educational
grants||||(Note 14)|0|1,450| ||Depreciation|||||2,084|511| |Audit fee|||||(Note 6)|4,430|4,430| |Trustees expenses|||||(Note 6)|249|206| ||Members
meetings|||||0|0| |||||||218,792|328,205| |Expenditure|on raising funds||||||| |Wages and salaries - catering|||||(Note 5)|82,898|80,381| ||Direct costs||||(Note 2}|27,555|75,793| ||Premises costs||||(Note 3)|16,792|27,479| ||Support costs||||(Note 4)|10,710|12,631| ||Depreciation|||||7,343|1,798| |||||||145,298|198,082| |TOTAL EXPENDITURE||||||364,090|526,287| |Net (losses) Igains on investments|||||||| ||Realised
Unrealised||||(Note 8)
(Note 8)|(34,690)
~58,245|1,519
141,614| |||||||92,935|143,133| |NET (EXPENDITURE)/INCOME
FOR THE YEAR||||||(123,836)|120,075| |Balances brought
forward at||1|January|2020||1,821,790|1,701,715| |Balances carried forward
at||31 December 2020||||1,697,954|1,821,790| ## |||||2020||2019|| |---|---|---|---|---|---|---|---| ||||Notes|E|||| |FIXEDASSETS|||||||| |Tangible Fixed Assets|||||487,038||448,154| |Quoted investments|||||1,197,650||1,351,048| ||||||1,684,688||1,799,202| |CURRENT ASSETS|||||||| |Restaurant
stock||||4,057||5,271|| |Debtors||||4,690||16,515|| |Bank balances||||35,031||69,893|| |COIF Chadties
Deposit Account||||1,470||25,401|| |Charles Stanley Capital Account||||23,962||51,052|| |Cash
in hand||||320||320|| |||||69,530||169,452|| |CURRENT LIABILITIES|||||||| |Creditors: amounts|falling due within|1 year|10|56,264||146,864|| |NET CURRENT ASSETS|||||13,266||22,588| |NET ASSETS|||||1,697,954||1,821,790| |FUNDS|||||||| |Unrestricted|||||||| |Designated|||12||1,684,688||1,698,154| |Other general|||13||13,266||123,636| ||||||1,697,954||1,821,790| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Direct cost|s|||||| |---|---|---|---|---|---|---| ||||||2020|2019| ||||||E|E| |Expenditure|on charitable||activities|||| |Books bought|||||3,469|6,368| |Miscellaneous
library||purchases|||160|173| |Music tapes|and CDs bought||||312|87| |Newspapers|and periodicals||||6,614|11,721| |Tutors for members'||education,||study groups 8 lectures|27,135|92,209| |Educational|trips and|events|||3112|21,963| ||||||40,802|132,521| |Expenditure|on raising funds|||||| |Catering cost ofsales|||||15,630|57,908| |Kitchen sundries|||||1,912|5,184| |Stockbroker|fees||||10,013|12,703| ||||||2T,555|75,793| |Total direct|costs||||68,357|208314| ||||Charitable|Generating|Total|Total| |---|---|---|---|---|---|---| ||||activities|funds|2020|2019| |||||Catering
&||| |||||Managing||| |||||investments||| ||||E|E|E|F| |Rates &|water||1,602|1,160|2,T62|5,808| |Light, heat||& power|5,012|6,495|11,507|16,670| |Insurance|||9,929|3,028|12,957|12,104| |Furnishings||&equipment|2,268|1,947|4,215|10,170| |Repairs|&|redecoration|14,018|1,925|15,943|21,711| |Cleaning|materials||1,988|2,238|4,226|7,616| ||||34,818|16,792|51,610|74,079| ## ## |Support|costs||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||Charitable|||Generating|Total||Total| |||||||||||activities||funds|2020||2019| |||||||||||||Catering &|||| |||||||||||||Managing|||| |||||||||||||investments|||| |||||||||||f|||6||| |Wages and salaries||(Note|||5)|||||60,387||6,266|66,653||62,863| |Printing,|stationery|&postage||||||||2,540|||2,540||7,056| |Telephone|||||||||||762|742|1,504||2,053| |Advertising
and promotions|||||||||||989|||989|790| |Miscellaneous||||||||||12,017||3,702|15,719||18,043| |||||||||||76,695||10,710|87,405||90,825| |Support|costs are allocated||||specifically||to charitable|activities,||generating||funds and|||| |managing|investments||where possible.||||Those which|relate|to all or some|||headings
are|||| |allocated|based on|the||percentage||offloor space occupied|||by each||heading.||||| |Staff Costs|||||||||||||||| ||||||||||||2020|||2019|| |Wages and Salaries||||||||||||199,110|||197,935| |Social secudity costs||||||||||||5,940|||5,677| |Pension||||||||||||4,215|||3,945| |||||||||||||209,265|||207,557| |Attributed|to charitable|||activities||-direct||||59,714|||64,293||| |||||||-support costs (Note 4)||||60,367|||56,630||| |||||||||||||120,101|||120,923| |Attributed|to generating|||funds||- direct||||82,898|||80,381||| |||||||-support costs (Note 4)|||||6,266||6,253||| |||||||||||||89,164|||86,634| |||||||||||||209,265|||207,557| |||||||||||||2020|||2019| |Number|ofemployees||who||earned 560,000pa or more|||||||Nil|||Nil| |Total amount ofsalaries||||paid to key personnel||||||||78,692|||68,711| |Average|number of|employees||||||||||19|||22| |Average|number of|full||time|equivalent||employees|||||7|||8| |Average|number of|tutors (all part||||time)||||||4|||4| ## ## ## ## ||||||||||Total|Total| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||2D20f|2019
f| |Auditors'
remuneration||for cost of|audits||||||4,430|4,430| |Managing
Trustees'|Expenses||||||||249|206| |Managing
trustees'|expenses relate to indemnity||||insurance|for trustees.||||| |Tangible Fixed Assets||||||||||| |||15||||||Property||| |||Tavern|13Tower|15Tower|||Boiler|Improve||| |||St|St||St|Equip|Replace|ments|Total 2020|Total 2019| |Cost||||||||||| |At 1 January 2020||1,000|260,189||180,000|65,963|22,275|10,420|539,847|538,951| |Additions||||||3,236||45,076|48,312|896| |At 31 December 2020||1,000|260,189||180,000|69,199|22,275|55,496|588,159|539,847| |Depreciation||||||||||| |At 1 January 2020||1,000||||65,292|22,275|3,126|91,693|89,384| |Charge for year||||||838||8,590|9,428|2,309| |At 31 December 2020||1,000||||66,130|22,275|11,716|101,121|91,693| |Net Book Value||||||||||| |At 31 December 2020|||260,189||180,000|3,069||43,780|487,038|448,154| |At 31 December 2019|||260,189||180,000|671||7,294|448,154|443,530| ## ## ||||Total 2D20|Total 2019| |---|---|---|---|---| ||||f|f| |Market Value||1 January 2019|1,351,048|1,160,868| |Additions|||326,467|375,519| |Disposals|||(385,740)|(327,778)| |Capital equalisations|||(1,190)|(694)| |Realised|(losses) / gains on disposals||(58,245)|1,519| |Unrealised|(losses) / gains||(34,690)|141,614| |Market Value||at 31 December 2020|1,197,650|1,351,048| ## |9|Debtors||||||| |---|---|---|---|---|---|---|---| |||||||Total 2020|Total 2019| |||||||f|f| ||Prepayments||and accrued income|||4,690|16,515| |10|Creditors||||||| |||||||2020f|2019
f| ||Amounts|falling||due within one year:|||| ||VAT|||||5,680|15,847| ||Deferred|income|||(Note 11)|35,503|101,788| ||Other creditors|||||3,589|16,789| ||Accruals|||||11,492|12,440| |||||||56,264|146,864| |11|Deferred|income|||||| |||||||2020f|2019| ||Brought forward|||amount||101,788|94,756| ||Released|in year||||(101,788)|(94,756)| ||Provided|for||||35,503|101,788| ||Carried forward|||amount||35,503|101,788| ## |Designated
Funds|||||| |---|---|---|---|---|---| ||Balance||||Balance| ||1 Jan 20|Incoming|Transfers
f|Outgoing|31-Dec-20| |Capital|1,698,154||(4,038)|(9,428)|1,684,688| ||1,698,154||(4,038)|(9,428)|1,684,688| ## |Analysis of|Net Asse|ts between
Fun|ds|||| |---|---|---|---|---|---|---| ||||Tangible||Net current|| ||||fixed||assets I|| ||||assets|Investments|liabilities|Total| ||||6|5|9|6| |Designated|Funds|||||| |Capital|||487,038|1,197,650||1,684,688| ||||487,038|1,197,650||1,684,688| |General Unrestricted||Funds|||13,266|13,266| |Total Funds|||487,038|1,197,650|13,266|1,697,954| ## |projects (No gran|ts were made in 2020):||| |---|---|---|---| |||2020|2019| |Got to Read|||250| |Ipwich Symphony|||250| |Geo Suffolk|||300| |PCC St Mary Le|Tower||250| |Ipswich Chamber|Music Sodety||200| |Orwell Panthers|||200| ||||1,450| ## ##