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|Introduction by the President Anne Dunford, OBE|1|
|---|---|
|Notice of Annual General Meeting|2|
|An Overview of 2021 from Chair of Trustees|3|
|Report from General Manager|6|
|Financial Review from Treasurer|9|
|Reference and Administration Information|11|
|Auditor’s Report|14|
|Statement of Financial Activities|17|
|Balance Sheet|18|
|Notes forming to the Financial Statements|19|





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|Joining Fee|£5|
|---|---|
|Single Member|£64|
|Combined Household Membership|£105|
|Members 90 years of age and over, with five year’s|membership nil|
|Student membership|£26|



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|**Reference and Administrative Information**|**Reference and Administrative Information**|
|---|---|
|Name of the charity|**Ipswich Institute Reading Room & Library**|
|Charity Number|**304772**|
|Principal Office|**15 Tavern Street, Ipswich IP1 3AA**|
|Telephone:|**01473 253992**|
|Website|**www.ipswichinstitute.org.uk**|
|President|**Mrs. A C Dunford OBE**|
|Vice President|**Mr. M Spettigue**|
|Trustees Chair:|**Mr. C Budd (re-elected April 2022)**|
|Vice Chair:|**Mrs. A Stewart MBE (re-elected April 2022)**|
|Treasurer:|**Mrs. C Wall (re-elected April 2022)**|
||**Mr. P Edwards**|
||**Mr. J Field**|
||**Ms. M Harvey**|
||**Mr. G Smith**|
||**Mr. P D Whiley (re-elected April 2022)**|
||**Mrs. G Whitbread**|
||**Mr. K Windsor**|
|General Manager|**Ms. J Rooks**|
|Auditor|**Scrutton Bland LLP Fitzroy House, Crown**|
||**Street, Ipswich, IP1 3LG**|
|Bankers|**Co-operative Bank 9-11 Queen Street Ipswich**|
||**IP1 1SW**|
||**Bank of Scotland The Mound, Edinburgh EH1**|
||**1YZ**|
|Solicitors|**Birketts Solicitors 141-145 Princes Street**|
||**Ipswich IP1 1QJ**|
|Investment Advisers|**Charles Stanley & Co Ltd 33 Lower Brook**|
||**Street Ipswich IP4 1AQ**|
|Property Advisers|**EWS 31 Lower Brook Street, Ipswich IP4 1AQ**|





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|**INCOME**||**2021**|2020|
|---|---|---|---|
||||£|
|**Income from charitable activities**||||
|Subscriptions andjoining fees||**79,791**|67,334|
|Fees, members' education study groups & lectures||**30,725**|44,627|
|Educational trips and events||**3,962**|2,650|
|||**114,478**|114,611|
|**Incomefrom other trading activities**||||
|Catering income||**45,229**|42,371|
|Sales of books and periodicals||**684**|1,321|
|Sale of book bags, fines, reservations||**111**|773|
|Government grants received||**62,954**|90,862|
|||**108,978**|135,327|
|**Income from investments**||||
|Property income||**39,975**|42,910|
|Quoted investments||**41,115**|40,272|
|Interest receivable||-|69|
|||**81,090**|83,251|
|**TOTAL INCOME**||**304,546**|333,189|
|**EXPENDITURE**||||
|**Expenditure on charitable activities**||||
|Wages and salaries - library|**(Note 5)**|**61,201**|59,714|
|Direct costs|**(Note 2)**|**36,372**|40,802|
|Premises costs|**(Note 3)**|**23,144**|34,818|
|Support costs|**(Note 4)**|**81,851**|76,695|
|Depreciation||**2,783**|2,084|
|Auditor's remuneration|**(Note 6)**|**4,430**|4,430|
|Trustees expenses|**(Note 6)**|**210**|249|
|||**209,991**|218,792|
|**Expenditure on raising funds**||||
|Wages and salaries - catering|**(Note 5)**|**79,982**|82,898|
|Direct costs|**(Note 2)**|**33,049**|27,555|
|Premises costs|**(Note 3)**|**24,369**|16,792|
|Support costs|**(Note 4)**|**12,397**|10,710|
|Depreciation||**9,805**|7,343|
|||**159,602**|145,298|
|**TOTAL EXPENDITURE**||**369,593**|364,090|
|**Net gains / (losses) on investments**||||
|Realised|**(Note 8)**|**(10,486)**|(58,245)|
|Unrealised|**(Note 8)**|**120,063**|(34,690)|
|||**109,577**|(92,935)|
|**NET INCOME/(EXPENDITURE) FOR THE YEAR**||**44,530**|(123,836)|
|Balances brought forward at 1 January||**1,697,954**|1,821,790|
|Balances carried forward at 31 December||**1,742,484**|1,697,954|





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|||**2021**||2020||
|---|---|---|---|---|---|
||**Notes**|£|£||£|
|**FIXED ASSETS**||||||
|Tangible Fixed Assets|**7**||**475,790**||487,038|
|Quoted investments|**8**||**1,268,656**||1,197,650|
||||**1,744,446**||1,684,688|
|**CURRENT ASSETS**||||||
|Restaurant stock||**3,791**||4,057||
|Debtors|**9**|**24,522**||4,690||
|Bank balances||**81,862**||35,031||
|COIF Charities Deposit Account||**1,470**||1,470||
|Charles Stanley CapitalAccount||**1,947**||23,962||
|Cash in hand||**320**||320||
|||**113,912**||69,530||
|**CURRENT LIABILITIES**||||||
|Creditors: amounts falling due within 1 year|**10**|**115,874**||56,264||
|**NET CURRENT (LIABILITIES)/ASSETS**|||**(1,962)**||13,266|
|**NET ASSETS**|||**1,742,484**||1,697,954|
|**FUNDS**||||||
|Unrestricted||||||
|Designated|**12, 13**||**1,725,790**||1,684,688|
|Other general|**13**||**16,694**||13,266|
||||**1,742,484**||1,697,954|






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|**Direct costs**|||
|---|---|---|
||**2021**|2020|
||£|£|
|**Expenditure on charitable activities**|||
|Books bought|**3,838**|3,469|
|Miscellaneous library purchases|**456**|160|
|Music tapes and CDs bought|**97**|312|
|Newspapers and periodicals|**5,979**|6,614|
|Tutors for members' education, study groups & lectures|**19,567**|27,135|
|Educational trips and events|**6,435**|3,112|
||**36,372**|40,802|
|**Expenditure on raising funds**|||
|Catering cost ofsales|**18,836**|15,630|
|Kitchen sundries|**1,907**|1,912|
|Stockbrokerfees|**12,306**|10,013|
||**33,049**|27,555|
|Total direct costs|**69,421**|68,357|



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||**Charitable**|**Generating**|**Total**|Total|
|---|---|---|---|---|
||**activities**|**funds**|**2021**|2020|
|||**Catering &**|||
|||**Managing**|||
|||**investments**|||
||£|£|£|£|
|Rates & water|325|401|**726**|2,762|
|Light, heat & power|6,110|7,181|**13,291**|11,507|
|Insurance|9,103|2,775|**11,878**|12,957|
|Furnishings & equipment|3,455|6,780|**10,235**|4,215|
|Repairs & redecoration|1,365|2,985|**4,350**|15,943|
|Cleaning materials|2,786|4,247|**7,033**|4,226|
||23,144|24,369|**47,513**|51,610|





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|**Support costs**|||||
|---|---|---|---|---|
||**Charitable**|**Generating**|**Total**|Total|
||**activities**|**funds**|**2021**|2020|
|||**Catering &**|||
|||**Managing**|||
|||**investments**|||
||£|£|£|£|
|Wages and salaries (Note 5)|65,067|6,213|**71,280**|66,653|
|Printing, stationery & postage|3,540|-|**3,540**|2,540|
|Telephone|691|826|**1,517**|1,504|
|Advertising and promotions|-|-|-|989|
|Miscellaneous|12,553|5,358|**17,911**|15,719|
||81,851|12,397|**94,248**|87,405|



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|||**2021**||2020||
|---|---|---|---|---|---|
|||£|**£**|£|£|
|Wages and Salaries|||**201,029**||199,110|
|Social security costs|||**6,681**||5,940|
|Pension|||**4,753**||4,215|
||||**212,463**||209,265|
|Attributed to charitable activities|- direct|**61,201**||59,714||
||- support costs (Note 4)|**65,067**||60,387||
||||**126,268**||120,101|
|Attributed to generating funds|- direct|**79,982**||82,898||
||- support costs (Note 4)|**6,213**||6,266||
||||**86,195**||89,164|
||||**212,463**||209,265|



||2021|2020|
|---|---|---|
|Number of employees who earned £60,000 pa or more|**Nil**|Nil|
|Total amount of salaries paid to key personnel|**79,430**|78,692|
|Average numberof employees|**15**|19|
|Average numberof full time equivalent employees|6|7|
|Average numberof tutors (all part time)|**1**|4|



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|**Professional charges**|||
|---|---|---|
||**Total**|Total|
||2021|2020|
||£|£|
|Auditor's remuneration in relation ro the audit of the finanical statements|**4,430**|4,430|
|Managing Trustees'expenses|**210**|249|
|Managing Trustees' expenses relate to indemnityinsurance for trustees.|||



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||**15**|||||**Property**|||
|---|---|---|---|---|---|---|---|---|
||**Tavern**|**13 Tower**|**15 Tower**||**Boiler**|**Improve**|||
||**St**|**St**|**St**|**Equip**|**Replace**|**ments**|**Total 2021**|Total 2020|
||£|£|£|£|£|£|£|£|
|**Cost**|||||||||
|At 1 January 2021|1,000|260,189|180,000|69,199|22,275|55,496|**588,159**|539,847|
|Additions|-|-|-|1,340|-|-|**1,340**|48,312|
|At 31 December 2021|1,000|260,189|180,000|70,539|22,275|55,496|**589,499**|588,159|
|**Depreciation**|||||||||
|At 1 January 2021|1,000|-|-|66,130|22,275|11,716|**101,121**|91,693|
|Charge for year|-|-|-|1,489|-|11,099|**12,588**|9,428|
|At 31 December 2021|1,000|-|-|67,619|22,275|22,815|**113,709**|101,121|
|**Net Book Value**|||||||||
|At 31 December2021|-|260,189|180,000|2,920|-|32,681|**475,790**|487,038|
|At 31 December2020|-|260,189|180,000|3,069|-|43,780|**487,038**|448,154|



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||**Total 2021**|Total 2020|
|---|---|---|
||£|£|
|Market value 1 January|**1,197,650**|1,351,048|
|Additions|**316,031**|326,467|
|Disposals|**(353,099)**|(385,740)|
|Capital equalisations|**(1,503)**|(1,190)|
|Realised (losses) on disposals|**(10,486)**|(58,245)|
|Unrealised gains / (losses)|**120,063**|(34,690)|
|Market value at 31 December|**1,268,656**|1,197,650|





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|**9 **|**Debtors**||||
|---|---|---|---|---|
||||2021|2020|
||||£|£|
||Trade debtors||**5,163**||
||Prepayments and accrued income||**19,359**|4,690|
||||**24,522**|4,690|
|**10 **|**Creditors**||||
||||**2021**|2020|
||||£|£|
||Amounts falling due within one year:||||
||VAT||**10,869**|5,680|
||Deferred income|(Note 11)|**69,404**|35,503|
||Other creditors||**23,432**|3,589|
||Accruals||**12,169**|11,492|
||||**115,874**|56,264|
|**11 **|**Deferred income**||||
||||**2021**|2020|
||||£|£|
||Brought forward amount||**35,503**|101,788|
||Released in year||**(35,503)**|(101,788)|
||Provided for||**69,404**|35,503|
||Carried forward amount||**69,404**|35,503|



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|**Designated Funds**||||||
|---|---|---|---|---|---|
||**Balance**||||**Balance**|
||**1 Jan 21**|**Incoming**|**Transfers**|**Outgoing**|**31-Dec-21**|
||£|£|£|£|£|
|Capital|1,684,688|-|53,690|(12,588)|**1,725,790**|
||1,684,688|-|53,690|(12,588)|**1,725,790**|





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||**Tangible**||**Net**||
|---|---|---|---|---|
||**fixed**||**current**||
|**31 December 2021**|**assets**|**Investments**|**liabilities**|**Net assets**|
||£|£|£|£|
|**Designated Funds**|||||
|Capital|475,790|1,250,000||1,725,790|
||475,790|1,250,000|-|1,725,790|
|**General Unrestricted Funds**|-|18,656|(1,962)|16,694|
|Total Funds|475,790|1,268,656|(1,962)|1,742,484|
||**Tangible**||**Net**||
||**fixed**||**current**||
|**31 December 2020**|**assets**|**Investments**|**liabilities**|**Net assets**|
||£|£|£|£|
|**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|