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2023-12-31-accounts

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

Charity number: 313014

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1 - 2
Trustees' Report 3 - 24
Independent Auditor's Report on the Financial Statements 25 - 28
Charity Statement of Financial Activities 29
Consolidated Statement of Financial Activities 30
Consolidated Balance Sheet 31 - 32
Charity Balance Sheet 33 - 34
Consolidated Statement of Cash Flows 35
Notes to the Financial Statements 36 - 75

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees

Kate Robinson BA (Hons) DipLib MA FCLIP FRSA, Chair from January 2024 (appointed 25 January 2024) Cornelia Andersson MBA MCLIP (appointed 25 January 2024)1 Surash Patel (appointed 25 January 2024)1 Jonathan Waterfield (appointed 25 January 2024)1 Andrew Preater MCLIP (appointed 25 January 2024) Corin Peacock BA (Hons) MA (appointed 25 January 2024) Binni Brynolf Helen Workman Simon Burton Stephen Phillips BLib MCLIP, Treasurer from January 2024 Alison Brettle BA (Hons) MSc PhD Sue Ball BA MCLIP Liz Jolly BA (Hons) DipILS FCLIP FRSA PFHEA Alison Wheeler MBE PG Cert Mgnet MCLIP, Treasurer until December 2023 Sue Lacey Bryant BA (Hons) DipLib MSc FCLIP MIHM, Chair until January 2024

1 Co-opted

Presidential Team (ex-officio Board observers)

President

Sue Williamson MBE from 25 January 2024 John Trevor-Allen BA (Hons) MSc Econ FCLIP from 1 January 2023 to January 2024 Kate Robinson BA (Hons) DipLib MA FCLIP FRSA from 1 January 2022 to January 2023

Vice-President

Sue Lacey Bryant BA (Hons) DipLib MSc MCLIP MIHM from January 2024 John Trevor-Allen BA (Hons) MSc Econ FCLIP from 1 January 2022 to January 2023

Senior Leadership Team

Nick Poole OBE BA MA, Chief Executive Officer until 31 March 2024 Louis Coiffait-Gunn BA (Hons) MPhil, Chief Executive Officer from 8 May 2024 Duncan Anthony, Chief Operating Officer from April 2023 Jo Cornish FCLIP, Chief Development Officer from June 2021 Angela Shaw BSc (Hons) MSc DChA CG (Affiliated), Operations Director from July 2023 to Nov 2024 Rob Green BA (Hons), Editor, Information Professional Sean McNamara BA (Hons) MCLIP, Head of CILIP in Scotland Sonia Ramdhian BA (Hons) MA MCLIP, Director of Sector Development from August 2023 Pete Baker, Head of Publishing from July 2019 to 1 May 2024 Andrew James BA (Hons) MA, Director of Content and Publishing from 29 April 2024 Emma Watkins, Director of Business Development from July 2023 Rabeea Arif, Director of Research and Development from August 2023 Claire Robe, Head of Sector Development until 23 March 2023 Paul Jessop, Director of Transformation until 30 June 2023 Freddy Castrillon, Head of Facilities until 30 May 2023 Gemma Wood, Head of Sales and Marketing until 14 February 2023

Charity registered number

313014

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CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Company registered number

RC000780

Principal office

Room 150, British Library, 96 Euston Road, London, NW1 2DB

Independent auditor

Peters Elworthy & Moore, Salisbury House, Station Road, Cambridge, CB1 2LA

Bankers

Bank of Scotland, Teviot House, 41 South Gyle Crescent, Edinburgh, EH12 9XD

Unity Trust Bank PLC, Nine Brindley Place, Birmingham, B1 2HB

CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET

Solicitors

Bates Wells, 10 Queen Street Place, London, EC4R 1BE

Defined benefit pension scheme

Isio, 3 Hardman Square, Manchester, M3 3EB

Group stakeholder pension scheme

Scottish Widows, 69 Morrison Street, Edinburgh, EH3 8YF

Investment advisors

Barnett Waddingham, 2 London Wall Place, London, EC2Y 5AU

Investment managers

M&G Investments, 10 Fenchurch Street, London, EC3M 5AG

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present here their report along with the consolidated financial statements of the Chartered Institute of Library and Information Professionals (CILIP) and its 100%-owned subsidiary CILIP Pathways Limited for the Financial Year ended 31 December 2023.

CILIP is a charity operating under Royal Charter (incorporated in the UK and registered number RC000780) registered with the Charity Commission (number 313014). The financial statements have been prepared based on the accounting policies set out in note one to the financial statements and comply with the organisation’s Royal Charter.

IMPACT:

CILIP changes lives by improving education, literacy and prosperity for all. We achieve this by raising standards in libraries, information and knowledge management.

VISION:

A professional community, dedicated to changing lives through quality information, services, and expertise.

MISSION:

To be the leading professional membership association for people working in information, knowledge, libraries, and related disciplines.

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

President’s foreword

It has been an honour to serve as Vice-President of CILIP in 2023 and as President in 2024.

CILIP continues to cement its position at the forefront of thought leadership for the profession, both nationally and internationally, while Facet Publishing is continually broadening its range of titles. Alongside CILIP School Libraries Group and the School Library Association, we have led on the Great School Libraries campaign, publishing the Equal Futures report in March 2023 in collaboration with other partners. The work on Green Libraries goes from strength to strength, and in November 2023 we convened the inaugural Libraries Rewired conference about the rapid changes in technology and shaping library sector responses. This was so successful that we shall be repeating it in November 2024.

Our main CILIP Annual Conference was refreshed, rebranded, and relaunched with a focus on leadership. To celebrate 125 years of our Royal Charter, we launched the CILIP 125 campaign and invited nominations for 125 emerging leaders across the profession. The resulting cohort are hugely inspirational and illustrate so clearly that leadership exists at all levels in an organisation but needs to be nurtured.

The Welcome to Libraries booklet, while aimed at public libraries, illustrates for all what it means to be part of our profession and emphasises the importance of the ethics and values that underpin everything we do. We also undertook the commission from Arts Council England to update the guidance for Managing Safe and Inclusive Library Services, which as we are seeing across the world, has never been timelier in underpinning the role that libraries play in creating a climate of mutual respect and inclusivity, and promoting intellectual freedom.

The CILIP training programme continues to provide a wide range of high-quality learning opportunities. We devised a anti-racist library collections training programme for Welsh Libraries in support of the Welsh Government's Anti-Racist Wales Action Plan. CILIP also continues to support the development of diverse pathways into the profession through the library apprenticeships programme, with hundreds of apprentices graduating from the Level 3 course and the development of Level 7 in the pipeline. CILIP Pathways Limited has been appointed assessors for the Level 7 Archives and Record Managers apprenticeship, underlining its position as the leading End Point Assessment Organisation for the profession and related fields.

Our Come Rain or Shine report and accompanying Futures Literacy Toolkit (due early 2024) explore the techniques of futures literacy. Together, they aim to provide a blueprint for strategic planning in times of turbulence and change, supporting library services to plan based on their own user demographics and circumstances. They emphasise leadership throughout the organisation as being crucial to success and highlight the support that CILIP can give across the whole profession.

Underpinning all of this is a growing success story in fund-raising to help us deliver all this exciting work. We have also introduced a brilliant range of merchandise to advocate for the role libraries play. Another key factor is the strength of the partnerships that CILIP is continually nurturing to help us deliver the best results for our profession. For example, CILIP led a consortium to commission a comprehensive Workforce Mapping Project to provide up-to-date data about those working in the sector, their skills and their training needs as an essential evidence base for the development of the sector and to monitor performance.

Finally, I am really excited to see the work being done on streamlining the way CILIP works with our Special Interest Groups, Regional Member Networks, Diversity Networks, and other groups of volunteers, with the introduction of a new Member Council that places members’ voices directly at the centre of Trustee Board discussions. The opportunities for everyone to have their say will be hugely amplified through this work and will make CILIP even more effective as a cohesive organisation. In 2024, Members’ Week during 14-18 October will give everyone the opportunity to find out more about this.

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

If you’re already a CILIP member thank you and please do encourage others to join. If you’re not yet, I urge you to consider it. Remember that the more members we have, the louder our voice is, because We Are CILIP .

Sue Williamson MBE CILIP President 2024

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Chair’s introduction

CILIP’s attention in its 125th anniversary year has been on our contribution to society though positive action, prioritising economic and social wellbeing alongside a responsible and proactive approach to climate challenges. Recognising 125 emerging leaders as ‘the CILIP 125’ has been a fantastic way to commemorate this milestone and build momentum for future positive impact.

CILIP’s values continue to be at the heart of our activities, and it is these that have guided the ongoing work through the delivery of our We Are CILIP strategy across all four Nations through the services, expertise and knowledge of CILIP members.

This report celebrates the work of the whole of the CILIP community in 2023 and shares the impact we have on society through our expertise, our advocacy, and our services for the benefit of those who use them directly and more widely for society. In these changing times we have started future-proofing our foundations while still achieving a great deal, with the ambition and impetus to do more, and I would like to commend the team at CILIP and our volunteer community for all we have and will achieve. Together We Are CILIP .

On behalf of the Board of Trustees of CILIP, I commend this Annual Report to you as an accurate report of the performance of the Charity over the course of 2023.

Kate Robinson BA (Hons) DipLib MA FCLIP FRSA Chair, CILIP Board of Trustees

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

We Are CILIP strategy and objectives

CILIP is a leading national charity focused on changing lives by improving education, literacy and prosperity for all. We deliver our mission by raising standards in libraries, information and knowledge management.

Strategic priorities

We Are CILIP, our 5-year strategy (2020-25) and action plan sets out four strategic priorities:

Our strategy is under-pinned by a business plan that aims to:

  1. help us transition to a new business model following the sale of our premises in central London

  2. deliver sustainable growth in membership and to drive value for our members

  3. maintain and where possible grow our diversified/non-membership revenue streams

Drawing on the key priorities from We Are CILIP, the core activities within the 2023-2025 business plan are:

  1. Continuing Professional Development (CPD): To deliver high-quality CPD events and training that enable our members to enhance their skills, knowledge, and expertise.

  2. Membership Services: To provide excellent membership services that support our members and enable them to maximize the benefits of membership.

  3. Professional Standards: To uphold and develop professional standards that promote excellence in libraries, information and knowledge management.

  4. Content and publishing: To deliver high-quality books, journals, magazines and other content which enable our members to improve their skills and develop their expertise.

  5. Advocacy: To advocate for the value of our profession and the important role of our members in organisations and society.

  6. Research and Development: To work in collaboration to deliver R&D programmes which advance our strategic goals.

There will be a continued period of consolidation to build infrastructure and work towards digital improvement, both of which will support long-term growth and income diversification in alignment with the strategy, as well as supporting the aims of CILIP’s business plan to grow the organisation’s range of income sources:

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Services and activities

Our work to deliver the We Are CILIP strategy is focused around four sets of services and activities on behalf of our membership:

We will celebrate the expertise of our members and support them in their skills development and CPD in order to maintain professional standards.

Values

CILIP’s work is inspired by our values, which include a commitment to social justice, intellectual freedom and evidence-based practice.

Four Nations together

CILIP is a ‘four nations’ organisation, working to deliver public benefit across England, Scotland, Wales and Northern Ireland, and sharing knowledge and best practice between them.

In Wales and Northern Ireland, our work is led by National Committees, CILIP Cymru Wales and CILIP Ireland. In Scotland, it is led by our partner organisation, CILIP in Scotland, which is independently registered with the Office of the Scottish Charity Regulator (OSCR, number SC038532).

Public benefit statement

As a Charity, CILIP is established for purposes which further public benefit, and the Trustees operate the Charity in furtherance of these purposes. The Trustees have regard to the Charity Commission’s public benefit guidance when developing the strategy and activities of the Charity.

Our Royal Charter commits us to ‘promote education and knowledge through the establishment and development of libraries and information services and to advance information science.' We deliver on this commitment through:

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Membership information

CILIP is the only chartered body in the world dedicated to uniting, supporting, and advocating for information professionals and librarians in all sectors. CILIP is pleased to have welcomed hundreds of new members to CILIP during the past year.

Any member can undertake professional registration with CILIP, and all those who meet the required standard receive official recognition in the form of Certification, Chartership or Fellowship, with a Knowledge Management designation also available at Chartership and Fellowship level. These professional standards are recognised by a wide range of employers in the UK and internationally. All three levels of professional registration have been certified by the Scottish Credit and Qualifications Framework, and have been deemed to be equivalent to a Higher Certificate for Certification, a Bachelor’s degree for Chartership, and a Master’s degree for Fellowship.

CILIP has a network of volunteer mentors and support officers who can support individuals going through the process of Professional Registration, and there are also a range of resources specially tailored to professional registration candidates.

CILIP’s commitment to all those working within the library, information and knowledge management sectors is a unique strength. It acts as a unifying body for the profession and helps to raise the profile of all those working in associated roles. It means that CILIP can advocate across sectors, build coalitions and partnerships, and develop new relationships to benefit all those who either work in or make use of information services. Members have benefitted from our core offer of community, advice, representation and access to expertise.

CILIP membership is not only an investment in people’s skills and development, but also an investment in the future of the profession by helping to ensure that libraries, information, and knowledge management services are valued and relevant in a world that is increasingly reliant on access to high-quality information.

Volunteers at CILIP

Volunteers are the lifeblood of CILIP’s work, without whom we could not achieve any of the impact described in this report. We benefit from a network of more than 1,000 active volunteers who contribute countless personhours of time, effort, and expertise to support our strategic aims and increase the sector’s positive impact on society.

CILIP would like to gratefully acknowledge the work of all our volunteer mentors, professional registration support officers, assessors, committee officers, Trustees, and countless others for their tremendous contribution to our successes.

Member Networks, Branches, and National Committees

Across the UK, CILIP’s Member Networks (Regional Member Networks in England, Special Interest Groups, and Diversity Networks), the Branches in Scotland, and Devolved Nation committees in Northern Ireland and Cymru Wales support a hugely impactful community of practice on behalf of all our members as well as the wider sector.

Our Member Networks and Branches drive engagement, create new content and ideas, support professional development, and ensure that our strategic development is rooted in specialist professional knowledge and expertise.

They also allow CILIP to be more responsive, to develop thought-leadership and evidence-based practice, and to ensure that our support for our members is grounded in the contemporary realities for each of the sectors in which we operate.

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Our Diversity Networks allow our wider community to recognise and celebrate the contribution to our profession of people with lived experience of the protected characteristics under the 2010 Equality Act, while also providing a vital platform for career development and mutual support.

All members can choose to be a member of one or more Regional Member Networks, Branches, or Diversity Networks, and may join any Special Interest Group that they wish, namely:

  1. Academic and Research Libraries Group (ARLG)

  2. Commercial, Legal and Scientific Information Group (CLSIG)

  3. Community, Diversity and Equality Group (CDEG)

  4. Digital Technology Group (DTG)

  5. Government Information Group (GIG)

  6. Health Libraries Group (HLG)

  7. Information Literacy Group (ILG)

  8. International Library and Information Group (ILIG)

  9. Knowledge and Information Management Group (KIM)

  10. Library and Information History Group (LIHG)

  11. Library and Information Research Group (LIRG)

  12. Local Studies Group (LSG)

  13. Marketing and Communication Group (MCG)

  14. Metadata and Discovery Group (MDG)

  15. Prison Libraries Group (PrLG)

  16. Public and Mobile Libraries Group (PMLG)

  17. Rare Books and Special Collections Group (RBSCG)

  18. Retired Professionals Group (RPG)

  19. School Libraries Group (SLG)

  20. UKeiG: the UK e-information Group

  21. Youth Libraries Group (YLG)

CILIP Pathways Limited

Pathways is CILIP’s wholly owned trading subsidiary which exists to provide assessment services in support of apprenticeships in libraries, information and knowledge services, and related professions.

CILIP Pathways supports CILIP’s public mission by providing open and inclusive routes for more diverse candidates to develop a career in libraries, information or knowledge – ensuring that their services are responsive to and reflective of the needs of the widest possible audience.

Pathways was accepted by the regulator to assess the new Level 7 Archives and Record Manager apprenticeship, which launched in October 2023. This is a three-year apprenticeship, so assessment activity and associated income is due to begin in 2026.

Due to the ongoing demand for the original Level 3 sector apprenticeship, the addition of the Level 7 Archives and Records Management apprenticeship, and the ongoing development of a Level 7 Library, Information and Knowledge Management Professional apprenticeship (due to go live in 2024 or 2025), the Directors remain confident in the growth of the assessment service. CILIP Pathways Limited identified new assessors in 2023 and will invest in their training in 2024 and 2025 to ensure capacity can meet the planned growth.

Pathways is forecast to continue to grow the number of assessments whilst maintaining rigorous quality control. It will develop an assessment service for an existing approved sector-based Level 7 apprenticeship and will position itself to be ready to develop an additional Level 7 assessment service for a sector-based apprenticeship currently in development.

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

CILIP’s stakeholders

CILIP is committed to achieving impact through partnership. We therefore work with a wide range of stakeholders across industry, government, the third sector, and the media. The majority of these relationships are non-financial and depend on the mutual contribution of time and capacity towards shared aims. However, CILIP also maintains a financial relationship with a range of stakeholders including:

Individual stakeholders

Stakeholder groups

Additional information

Grant-making

CILIP has acted as a grant-making body for small-scale projects in 15 public libraries in England under the Arts Council England-funded Green Libraries Partnership to support environmental activity. Applications were considered for grants of up to £2,500 per organisation or consortium for time-limited projects, which explored and demonstrated environmental responsibility through innovative ideas. All 15 projects were awarded in 2022 and completed successfully, with some finishing in 2023.

Through the Health and Digital Literacy Partnership, small-scale pilot projects received funding for two cohorts. The first projects started in April 2022 and the second set of projects were launched in October 2022. Most of the pilots took place over a period of nine months and have now been completed, with further funding being actively sought.

CILIP will only fund projects and activities which are charitable and fall within the scope of our charitable purpose. Grant applications are assessed by independent panels which use the following criteria when assessing proposals:

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

2023 was another incredibly active year for the CILIP community, with a broad and varied work programme delivering significant positive impact for our members and the public in line with our mission of changing lives by raising standards in libraries, information and knowledge.

Key achievements against our strategy include:

Community

Recognition

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Representation

Expertise

Other achievements

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Project grants and delivery

Fundraising

CILIP raises funds in support of its charitable objectives through a variety of activities:

All fundraising activity is carried out in-house and does not make use of third parties or volunteers. Complaints relating to fundraising activities are managed through CILIP’s published Complaints Procedure. The number of complaints is monitored as part of CILIP’s overall quality assurance by the Senior Leadership Team. There were no complaints in 2023.

All communications relating to fundraising are carried out in the context of CILIP’s Equalities, Diversity, and Inclusion (EDI) Policy, which also encompasses the safeguarding of vulnerable people. Communications are carried out in compliance with current Data Protection legislation and periodically reviewed.

CILIP’s fundraising activities include both restricted and unrestricted (general purpose) funds.

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Operations and governance

Highlights of our work and its impact are set out below:

Outcome Activity Impact
Governance Effective leadership
Accountability		 CILIP continues to benefit from clear and effective
governance and leadership across the CILIP Trustee Board,
our national committees in CILIP Cymru Wales and CILIP
Ireland, and our affiliated partner CILIP in Scotland.
The relevant sections of the CILIP website are regularly
reviewed and maintained, and all non-restricted governance
papers are uploaded for scrutiny by the membership and the
public.
Finance
and
audit		 Statutory
compliance
Risk management		 CILIP completed a successful audit for 2022 with no
material issues raised. The audited accounts were approved
by the membership, providing visibility on the organisation’s
financial performance.
The Risk Register is maintained on an ongoing basis by the
CILIP Senior Leadership Team and scrutinised by the
Finance, Audit and Risk Committee with overall ownership
by the Trustee Board, providing an effective ongoing
structure for strategic and operational risk management and
control.
Facilities Office premises CILIP and CILIP in Scotland have continued to maintain
office premises in London and Glasgow respectively.

Financial review

The financial statements were in the format required under the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS 102), and the Statement of Financial Activities (SOFA) reflects the strategic priorities of CILIP.

Overview of the 2023 financial position and performance of CILIP and CILIP Pathways Limited

CILIP’s (group) income (excluding pension net interest) decreased by £117,916 from £3,849,026 in 2022 to £3,730,510 in 2023. This 3% decrease was mainly due to loss of rent and service charge income (falling from £797,039 in 2022 to £186,312 in 2023) following the sale of the building, along with decreases in membership subscriptions and training, events and conferences. Additional investment income of £498,735 was received as the Trustees were able to invest over £6m of cash following the sale.

CILIP’s (group) expenditure (excluding the other expenditure items relating to the sale and pension transactions) increased slightly by 9% from £4,291,071 in 2022 to £4,657,816 in 2023. This was in part due to the increase of training, events, and conference activity.

2023 was the start of a transformative period for CILIP, with implementation of several activity streams necessary to position the charity for future growth and sustainability. This includes restructuring the team to focus on priority activities that will enable growth, selling ageing and inefficient premises ahead of considerable maintenance and renovation costs, de-risking the considerable on-going costs from the legacy pension scheme, and investing the remaining assets to generate ongoing returns and fund digital improvement.

The organisation was reshaped to create a team structure that supported the aims set out in the 2023-2025 business plan. This included developing CILIP’s marketing and business development capabilities, as well as bringing more capacity to our support functions including Finance, Customer Support, and Membership

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Development. The new staffing structure was designed to promote a culture of performance and improvement across CILIP’s operations.

With the right people in the right roles – many of which were newly created or significantly reimagined to facilitate the aims of CILIP’s Community Strategy – a programme of digital improvement (planned for 2024-2025) can be undertaken. This investment will bring new systems, processes, and staff development online which will help create higher-quality experiences for our members, free up time for staff and volunteers, and enable the smooth running of CILIP’s financial operations.

Building the foundations of CILIP’s long-term financial sustainability required proactive action in relation to the increasing deficit within the legacy Defined Benefit Pension Scheme (closed to new members in 2009 and to existing members in 2011). In 2021, as part of CILIP’s COVID-19 Financial Strategy, we agreed with the Pension Trustee (Vidett) the following legally binding actions:

In March 2023, the sale of 7 Ridgmount Street for £25m (before selling costs) completed and CILIP moved into new rented premises within the British Library. By agreement with the pension Trustees a total of £9.5m from the proceeds of the sale were used to close this deficit, in turn removing the long-standing requirement for regular Deficit Repair Contributions into the scheme by CILIP.

With the building sale complete we have been able to invest the remainder of the proceeds from the sale, which will provide CILIP with a regular source of income via dividends. The released funds will also enable the necessary investment in our digital capabilities and in doing so support CILIP’s income generation activity as part of the current strategy and beyond. Undertaking all of this will help ensure CILIP’s long term growth and sustainability by allowing us to continue to support our members and the wider sector through our advocacy, new services, and programmes.

Reserves

The total of the group’s reserves in 2023 was £11,084,434 (2022: £22,709,931) which consists of unrestricted funds £10,460,166 (2022: £21,995,212), including designated funds £149,055 (2022: £1,663,764). Restricted funds stand at £624,628 (2022: £714,719). Free reserves £10,311,111 (2022: £1,331,140) are the sum of the central operations fund and Member networks. These reserves have risen significantly in 2023 due to the purchase of the investments. The central operations fund at the end of the year includes the funds held in Escrow for the fulfilment of the pension scheme of £2,799,477, and fixed asset investments of £6,224,672. The balance on the central operations fund after taking these balances into account is £548,881. The trustees are reviewing both their reserves and investment policies following the changes in the year. Further details about the funds are as stated below:

CILIP’s existing reserves policy is designed to determine the level of reserves required to:

Under the policy in place in 2023, the reserves required to fund central operations are a minimum of three months’ £1,036,594 (2022: £1,072,767), and a maximum of six months’ operating costs £2,073,188 (2022: £2,145,534). Central office reserves stood at £9,573,030 as at 31 December 2023 (2022: £634,378).

In addition, the policy allows sums to be set aside in designated reserves for important expenditure outside the normal operating budget. If overspend occurs, this needs to be recouped within a few years.

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CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

This policy also applied to Member Networks, which retain separate reserves sufficient to fund their own activities. Member Networks’ reserves stood at £738,081 in 2023 (2022: £696,760).

Unrestricted funds

  1. CILIP’s central operations activities

CILIP’s central operational activities during the year had a net deficit of £861,109 coupled with a loss of £94,972 on investment assets (2022: £324,437 loss). The total reserve carried forward in 2023 for central office activities was £9,573,030, in 2022 it was £634,380 as per note 25 and discussed above.

  1. Member Networks activities

Our Member Networks continue to provide a range of high-quality events, conferences and training opportunities at a fee that our members can afford to ensure their professional development. The total reserve carried forward to 2023 for Member Network activities was £738,081 (2022: £696,760) as per note 25.

  1. Designated funds activities

Designated funds consist of the fixed asset reserve and development fund reserve. The movement on the designated fund fixed asset reserve as per note 25 was due to expenditure related to the sale of 7 Ridgmount Street and depreciation of £10,674 (2022: £138,633). The total fixed asset reserve carried forward to 2023 was £25,662 (2022: £143,352).

The trustees are considering designating the following funds for investment in CILIP’s development and transformation work, and to support our plans for membership growth/retention and income diversification.

CILIP’s transformation/development designated fund (subject to Board approval) is £1.249m to be designated in 2024.

The total designated funds development reserves as per note 25 analysed below:

2022 2023
£ £
Member Network development fund 17,579 17,579
My Library By Right campaign fund 1,942 1,942
Central office master plan building repairs fund 95,508 75,549
Member Network CPD Forum development fund 4,103 4,103
Infrastructure development fund 24,220 24,220
TOTAL 143,352 123,393

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4. Pension reserves

The trustees believe that the defined benefit pension scheme funding calculation, which can vary considerably according to the assumptions made at each year-end, has no material effect on the charity’s cash flows in the short term, and that in the longer term its effects are sustainable out of future income. For this reason, in the Trustees’ view, it is disregarded for reserves policy purposes. At the end of 2023, the sale of the Ridgmount Street property meant that the trustees could settle some of the outstanding pension scheme liabilities. The movement on the pension reserve of £4,450,000 in 2023 (2022: £484,000 gain) as described in note 30 means that in 2023 the pension scheme deficit was £nil (2022: £4,450,000).

Restricted funds activities

Restricted funds are those used in accordance with specific restrictions imposed by the donors or raised by the charity for particular purposes. The costs of raising and administering such funds, where applicable, are charged against the specific fund. The movement on the restricted fund is analysed in note 25.

Subsidiaries

CILIP Pathways Limited was set up to conduct assessments including apprenticeship assessments, and assessment service for the library, information, knowledge, and data management professions as well as adjacent professions. Pathways’ customers are sector employers and organisations; the employers of apprentices; the apprentices; and apprenticeship-training providers. In 2023, CILIP Pathways Limited made profit of £52,665 before the gift aid donation of £102,827 to CILIP (2022: profit of £56,564).

Investment powers and selection of investments

The Royal Charter gives powers to the Trustees to invest the monies of the Institute not immediately required for the furtherance of its objects in or upon such investments, securities or property as may thought fit. The Byelaws allow the Trustee Board to delegate power to an investment manager to buy and sell investments on behalf of the Institute, within a prescribed investment policy.

Funds which are expected to be available for more than two years may be put into long-term investments to provide both income and capital growth. Funds available for investment on either short or long-term periods are invested with appropriate external fund managers, who will comply with our investment objectives. The Finance, Audit and Risk Committee makes decisions on which managers are used.

CILIP’s investment policy:

The Trustees will not invest directly in investments which conflict with CILIP’s aims and objectives as set out in the Royal Charter.

CILIP’s investment fund became a significant contributor to CILIP’s income following the sale of our premises at 7 Ridgmount Street. Barnett Waddingham, a professional services consultancy, were contracted to work with the CILIP Trustee Board to review the organisation’s funding needs, appetite for risk, and to define a long-term investment strategy. The consultation will complete in 2024.

CILIP maintains financial investments and reserves in accordance with our Reserves Policy. The CILIP Finance, Audit and Risk Committee maintains oversight and scrutiny of investment performance. Given the increased value of investments now held the trustees intend to review both the reserves policy and the investment policy in 2024.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

CILIP holds units in both M&G Charifund and, from 2023, in M&G Charity Multi Asset Fund.

M&G Charifund had a net yield of -2.4% in 2023 (2022: 4.5%). Charifund has a strong long-term performance record over time. The value of the total investments decreased in 2023 by 2.5% (2022: 5.8%) to £902,802 (2022: £925,418) with unrealised net loss of £22,616 (2022: £53,792) due to fluctuations in the stock market.

M&G Charity Multi Asset Fund had a net yield of -1.1% in 2023. The value of the total investments is £6,197,562. These funds are the proceeds of the building sale, less costs and the money held in Escrow.

Going concern assessment

CILIP has successfully navigated ongoing recovery from COVID-19, the planned organisational relocation and restructuring, and a transition from a long-serving CEO. Key strategic plans – including a membership ‘Community Strategy’, an improved finance system, better membership management software, and strengthened member communications and engagement tools – are well progressed, in line with CILIP’s 202325 Business Plan. As a result, our executive team will focus on driving previously untapped market potential for growth in membership and associated commercial activity throughout 2024-25.

The above foundations and focus will allow CILIP to target manageable, sustainable growth across all business drivers, increasing income generation in all areas, particularly within Membership, R&D, Training, and nonprimary purpose trading activity via CILIP’s wholly owned subsidiary, CILIP Pathways Limited.

Key assumptions have been made based on the implementation of plans agreed for 2023-25, supported by regular professional advice from our Investment Managers, Pension Trustees, Pension and Legal advisors.

With healthy cash reserves, a clear vision and strong operational plan to invest and grow, the Trustees are satisfied that the next chapter in CILIP’s long and proud story looks positive.

Having reviewed the funding facilities available to CILIP together with the expected future cash flows, the Trustees have a reasonable expectation that CILIP has adequate resources to continue its activities for a period of at least twelve months from the approval of these financial statements and consider that there are no material uncertainties over CILIP’s financial viability. Accordingly, the Trustees are of the view that CILIP is a going concern.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Principal risks and uncertainties

The Trustee Board recognises its responsibility for ensuring a sound system of risk management and internal control is in place. The Finance, Audit and Risk Committee provides assurance to the Trustee Board that this system is adequate and appropriate. The Senior Management Team is responsible for implementing the system of risk management and internal control and for identifying and evaluating risks, putting in place appropriate mitigating actions, and monitoring and reporting progress.

Key financial risks identified were:

Mitigating actions include regular review of risk by the Finance, Audit and Risk Committee and Senior Leadership Team (SLT); replacement of CILIP’s finance system and a thorough review/update of all financial processes/policies; introduction and development of a marketing and sales strategy; progressing CILIP’s plans for digital improvements to unlock growth potential; and regular meetings with qualified Investment Advisers. CILIP’s plans to relocate to expanded rented offices will also provide greater opportunity for the Finance team to work collaboratively and help ensure an effective control environment.

Key operational risks identified were:

Mitigating actions include: partnering with external data protection experts to fulfil the role of Data Protection Officer; updating all People polices and processes to develop CILIP’s recruitment, on-boarding and staff development programmes; employing professional legal and advice in relation to the changes to CILIP’s governing documents; and increasing focus on CILIP’s R&D potential, linked to increased advocacy in 2024-25.

Key reputational risks identified were:

Mitigating actions include: ensuring that reputational risk is factored into risk assessments; identifying and training key staff with responsibility for reputational risk; ensuring that we have a comprehensive equity, diversity and inclusion change programme; and regularly reviewing external news/communications regarding CILIP and the sector while offering an increased range of ways members can feedback to CILIP, including through a Net Promotor Survey to be launched in 2024.

Key compliance risks identified were:

Mitigating actions include: the Finance, Audit and Risk Committee regularly reviewing internal controls and implementation; making sure that new systems are configured to comply with GDPR; commissioning external

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

data protection advice; ensuring CILIP’s data policies have been strengthened; ensuring the CILIP website and virtual learning environment is secured with SSL encryption; and hiring a new, in-house IT Manager responsible for managing CILIP’s cyber security risks. The risk register is regularly reviewed by the Board, Senior Leadership Team, and by the Finance, Audit and Risk Committee.

Future plans

Looking ahead, CILIP has ambitious plans to grow our impact and support for everyone working in libraries, information and knowledge management. The We Are CILIP strategy and associated business plan run to the end of 2025, so is in year 3 of 5 in 2023. It defines our ambitions in four key areas:

The relocation to new rented premises at the British Library in Spring 2023 was an important step in our transformation programme. The funds from the sale of Ridgmount Street are enabling CILIP to create a portfolio of investments from which regular dividends can be drawn to support operating income, the key areas above, and our wider growth strategy. Our significant programme of recruitment and organisational development is designed to help ensure that CILIP has the capacity to grow and deliver on our plans.

Planned investments in digital improvements in 2024-25 will significantly improve the organisation’s services to members, as well as our ability to attract and retain new members, creating new opportunities for greater collaboration across our communities.

Trustees’ analysis

Properly supported information and knowledge professionals can leverage information and technology effectively, to the benefit of the public. They are essential for businesses, governments, and society as a whole.

CILIP’s members are critical to our future economy, and following the 2024 General Election, CILIP will engage in an increased programme of advocacy and influencing on behalf of the profession. The intended future state is that this important but unfunded work will be made possible by CILIP’s membership and other diversified income streams. By implementing the priorities set out in the 2023-25 business plan, including the decisive action we took in selling our premises, we have laid the foundations for a financially sustainable CILIP that generates an excess to fund our charitable work. The next priority is further development and growth in our primary trading activities and membership.

To support our membership, and our ambition to attract and retain a significant number of new members, we are also working with our Devolved Nations and Member Networks to embed our Community Strategy, including the newly established Members Council which will ensure a richer ongoing dialogue between the organisation and membership.

Structure, governance and management

CILIP is a charity operating under Royal Charter registered with the Charity Commission (registered charity number 313014).

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

CILIP Trustee Board

Members of the Board are Trustees of CILIP for the purpose of charity legislation.

The Board has twelve members elected directly by the membership, with a provision for up to three additional co-opted members to achieve a balance in the event of missing skills or jurisdictions. Should vacancies remain after an election, these also may be filled through the appointment process.

During 2023, nine Trustee Board members were in place, all of whom were individual members of CILIP. There are 14 Trustees in 2024 detailed below in this report, with the latest list always published on CILIP’s website under ‘Governance’.

Reporting to the Board is the Finance, Audit and Risk Committee, which oversees CILIP’s financial management and control, statutory accounts, investments and pension liabilities. It also provides reassurance that proportionate mechanisms exist to manage risk, strategy, compliance, and finance.

The Finance, Audit and Risk Committee

The purpose of the Finance, Audit and Risk Committee is to assess CILIP’s overall governance framework for fitness-for-purpose, to identify and escalate issues, and to confirm to the Trustee Board that proportionate mechanisms exist to manage risk, strategy, compliance, and finance. The Committee contributes to audit planning, identifying areas of concern, receiving and reviewing the audit report, and monitoring the management response. We have 2 independent members, currently Carol Edwards and Kirsty Ellis.

Following consideration of the Audit Findings Report, risk management, internal controls, and other items discussed by the Finance, Audit and Risk Committee during the course of its work in 2023, it did not identify any particular issues to report as a matter of concern to the Trustee Board.

Trustee selection, induction, and training

Trustee selection methods are as detailed in the CILIP Bye-laws and Regulations, which provide for a combination of election or nomination (Bye-laws 30-34), and co-option (Bye-laws 35-38) to the Trustee Board. These details are on the CILIP website in the Governance section.

An induction and development day is held for new trustees which includes existing trustees. The focus is on the role of the Trustee Board and individual trustees, as well as on their financial and risk-management responsibilities, and collective decision-making.

Each new Trustee receives a welcome pack, which includes:

Chief Executive Officer and other key management personnel in 2023

Day-to-day management of the charity is delegated by the Trustees to the Chief Executive Officer, who is responsible for managing staff and resources to implement the decisions made by the Trustee Board. The Chief Executive Officer is also included as key management personnel, and their salary is reviewed and agreed by the Trustee Board. Other key management personnel salaries are included in CILIP’s general pay scales.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Name Position Additional Notes Louis Coiffait-Gunn Chief Executive From 8 May 2024 Nick Poole Chief Executive Left 31 March 2024 Duncan Anthony Chief Commercial Officer From April 2023 Jo Cornish Chief Development Officer Angela Shaw Operations Director From July 2023 to Nov 2024 Rob Green Editor Sean McNamara Head of Scotland Emma Watkins Director, Business Development From July 2023 Peter Baker Head of Publishing Left May 2024 Sonia Ramdhian Director, Sector Development Rabeea Arif Director, Research and Development From August 2023

Office of the President

The Office of the President comprises the President and the Vice-President. They are directly elected by the membership and are independent of the Trustees of CILIP. Members of the Presidential Team represent CILIP at functions and events as well as being ex-officio (i.e. non-voting observers) on the Trustee Board.

The Annual General Meeting

The Annual General Meeting, normally held in September/October each year, approves the member subscription rate for the following year (if it’s above the Consumer Price Index) and agrees the appointment of CILIP’s auditors (if necessary that year). It also approves by resolution any proposed changes to CILIP’s Royal Charter and Bye-laws (subject to approval by the Privy Council in some cases). In other respects, its role is mainly advisory and the CILIP Trustee Board must give serious consideration to its recommendations.

EGM in 2024

In March 2024 CILIP held an Extraordinary General Meeting following the completion of our 2022 financial audit in order to present the audited accounts and update the membership on the intention to change auditors one year ahead of the planned schedule and move to multi-year contracts with auditors, as is standard practice.

In addition, the EGM updated members on the Trustee Board’s intention to start reviewing CILIP’s governing documents to bring them in line with the contemporary operation of the charity:

Following review, proposed amendments will be put to the membership as a vote in future AGMs in a phased manner as the work progresses.

Statement of Trustees' Responsibilities

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Policies).

Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its net income for that year, and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the trustees

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

are required to:

  1. Select suitable accounting policies and then apply them consistently.

  2. Observe the methods and principles in the charities SORP FRS102 (2019).

  3. Make judgments and estimates that are reasonable and prudent.

  4. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.

  5. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity, and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts & Reports) Regulations and the provisions of the Royal Charter.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

This Annual Report and Accounts complies with current statutory requirements, the requirements of CILIP’s Royal Charter and the current Statement of Recommended Practice on Accounting and Reporting by Charities.

So far as each Trustees is aware at the time the report is approved:

Approved by order of the members of the board of Trustees and signed on their behalf by:

Kate Robinson BA (Hons) DipLib MA FCLIP FRSA Chair

Date: 24 December 2024

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

OPINION

We have audited the financial statements of Chartered Institute of Library Information Professionals (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charity or to cease operations, or have no realistic alternative but to do so.

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS (CONTINUED)

in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:

We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we;

In response to the risk of irregularities and noncompliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS (CONTINUED)

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

USE OF OUR REPORT

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Peters Elworthy & Moore Chartered Accountants Statutory Auditor Salisbury House Station Road Cambridge CB1 2LA Date: 24 December 2024

Peters Elworthy & Moore are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
funds		 Unrestricted
funds		 Restricted
funds		 Total funds Total funds
2023 2023 2023 2022
Note £ £ £ £
INCOME FROM:
Donations and legacies
4		 157,292 261,555 418,847 217,016
Charitable activities
5		 2,465,871 - 2,465,871 2,698,562
Other trading activities
6		 186,312 - 186,312 797,039
Investments
7		 628,050 34,770 662,820 44,534
TOTAL INCOME 3,437,525 296,325 3,733,850 3,757,151
EXPENDITURE ON:
Raising funds
8		 203,214 - 203,214 238,581
Charitable activities
9		 4,083,167 323,963 4,407,130 4,017,179
Other expenditure
10		 1,826,565 - 1,826,565 -
TOTAL EXPENDITURE 6,112,946 323,963 6,436,909 4,255,760
NET EXPENDITURE BEFORE NET
LOSSES ON INVESTMENTS		 (2,675,421) (27,638) (2,703,059) (498,609)
Net losses on investments (94,972) (19,654) (114,626) (53,752)
NET EXPENDITURE (2,770,393) (47,292) (2,817,685) (552,361)
Transfers between funds
25		 43,159 (43,159) - -
NET MOVEMENT IN FUNDS
BEFORE OTHER RECOGNISED
GAINS/(LOSSES)
OTHER RECOGNISED
GAINS/(LOSSES):		 (2,727,234) (90,451) (2,817,685) (552,361)
Losses on revaluation of fixed assets - - - (1,225,000)
Actuarial (losses)/gains on defined
benefit pension schemes
30		 (7,719,000) - (7,719,000) 496,000
Pension surplus not recognised
30		 (1,038,000) - (1,038,000) -
NET MOVEMENT IN FUNDS (11,484,234) (90,451) (11,574,685) (1,281,361)
RECONCILIATION OF FUNDS:
Total funds brought forward
25		 21,944,400 714,719 22,659,119 23,940,480
Net movements in funds (11,484,234) (90,451) (11,574,685) (1,281,361)
TOTAL FUNDS CARRIED FORWARD
25		 10,460,166 624,268 11,084,434 22,659,119

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
INCOME FROM:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
TOTAL INCOME
EXPENDITURE ON:
Raising funds
8
Charitable activities
9
Other expenditure
10
TOTAL EXPENDITURE
NET EXPENDITURE BEFORE NET
LOSSES ON INVESTMENTS
Net losses on investments
NET EXPENDITURE
Transfers between funds
25
NET MOVEMENT IN FUNDS BEFORE
OTHER RECOGNISED
GAINS/(LOSSES)
OTHER RECOGNISED
GAINS/(LOSSES):
Losses on revaluation of fixed assets
Actuarial (losses)/gains on defined
benefit pension schemes
30
Pension surplus not recognised
30
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
25
Net movement in funds
TOTAL FUNDS CARRIED FORWARD
25		 Unrestricted
funds
2023
£
54,465
2,465,871
285,799
628,050
3,434,185
250,686
4,083,167
1,826,565
6,160,418
(2,726,233)
(94,972)
(2,821,205)
43,159
(2,778,046)
-
(7,719,000)
(1,038,000)
(11,535,046)
21,995,212
(11,535,046)
10,460,166		 Restricted
funds
2023
£
261,555
-
-
34,770
296,325
-
323,963
-
323,963
(27,638)
(19,654)
(47,292)
(43,159)
(90,451)
-
-
-
(90,451)
714,719
(90,451)
624,268		 Total
funds
2023
£
316,020
2,465,871
285,799
662,820
3,730,510
250,686
4,407,130
1,826,565
6,484,381
(2,753,871)
(114,626)
(2,868,497)
-
(2,868,497)
-
(7,719,000)
(1,038,000)
(11,625,497)
22,709,931
(11,625,497)
11,084,434		 Total
funds
2022
£
217,016
2,698,562
888,914
44,534
3,849,026
273,892
4,017,179
-
4,291,071
(442,045)
(53,752)
(495,797)
-
(495,797)
(1,225,000)
496,000
-
(1,224,797)
23,934,728
(1,224,797)
22,709,931

Page 30

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2023

Note
FIXED ASSETS
Tangible assets
16
Investments
17
CURRENT ASSETS
Stocks
18
Debtors
19
Investments
20
Cash held in escrow account
Cash at bank and in hand
Creditors: amounts falling due within one
year
22
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: amounts falling due after more
than one year
23
NET ASSETS EXCLUDING PENSION
ASSET / LIABILITY
Defined benefit pension scheme asset /
liability
30
TOTAL NET ASSETS		 56,851
523,202
383,663
2,799,477
1,607,577
5,370,770
(1,005,452)		 2023
£
25,662
6,716,701
6,742,363
4,365,318
11,107,681
(23,247)
11,084,434
-
11,084,434		 71,463
423,431
392,894
-
1,782,354
2,670,142
(1,036,704)		 2022
£
25,051,501
532,525
25,584,026
1,633,438
27,217,464
(57,533)
27,159,931
(4,450,000)
22,709,931

Page 31

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023

2023 2022
Note £ £
GROUP FUNDS
Restricted funds 25 624,268 714,719
Unrestricted funds:
Unrestricted funds excluding pension asset 25 10,460,166 26,445,212
Pension reserve 25 - (4,450,000)
Total unrestricted funds 25 10,460,166 21,995,212
TOTAL FUNDS 11,084,434 22,709,931

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Kate Robinson BA (Hons) DipLib MA FCLIP FRSA Honorary Chair

Date: 24 December 2024

The notes on pages 36 to 75 form part of these financial statements.

Page 32

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CHARITY BALANCE SHEET AS AT 31 DECEMBER 2023

Note
FIXED ASSETS
Tangible assets
16
Investments
17
CURRENT ASSETS
Stocks
18
Debtors
19
Investments
20
Cash held in escrow account
Cash at bank and in hand
Creditors: amounts falling due within one
year
22
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: amounts falling due after more
than one year
23
NET ASSETS EXCLUDING PENSION
ASSET / LIABILITY
Defined benefit pension scheme asset /
liability
30
TOTAL NET ASSETS		 56,851
520,421
383,663
2,799,477
1,562,058
5,322,470
(957,152)		 2023
£
25,662
6,716,701
6,742,363
4,365,318
11,107,681
(23,247)
11,084,434
-
11,084,434		 71,463
448,632
392,894
-
1,658,240
2,571,229
(988,603)		 2022
£
25,051,501
532,525
25,584,026
1,582,626
27,166,652
(57,533)
27,109,119
(4,450,000)
22,659,119

Page 33

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023

2023 2022
Note £ £
CHARITY FUNDS
Restricted funds 25 624,268 714,719
Unrestricted funds:
Unrestricted funds excluding pension asset /
liability 25 10,460,166 26,394,400
Pension reserve 25 - (4,450,000)
Total unrestricted funds 25 10,460,166 21,944,400
TOTAL FUNDS 11,084,434 22,659,119

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Kate Robinson BA (Hons) DipLib MA FCLIP FRSA Honorary Chair

24 December 2024 Date:

The notes on pages 36 to 75 form part of these financial statements.

Page 34

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
27
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Payment to escrow account
NET CASH PROVIDED BY INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Cash inflows from new borrowing
Repayments of borrowing
NET CASH (USED IN)/PROVIDED BY FINANCING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
28		 2023
£
(16,058,579)
547,820
24,520,747
(27,147)
417,801
(6,707,371)
(2,799,477)
15,952,373
-
(68,571)
(68,571)
(174,777)
1,782,354
1,607,577		 2022
£
(521,271)
44,534
-
(1,399)
-
-
-
43,135
11,428
-
11,428
(466,708)
2,249,062
1,782,354

The notes on pages 36 to 75 form part of these financial statements

Page 35

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. GENERAL INFORMATION

The Chartered Institute of Library Information Professionals (CILIP) is a charity under Royal Charter (registered company number RC000780) registered with the Charity Commission of England and Wales (registered charity number 313014). Its registered office is disclosed on page 1.

The functional and presentational currency of CILIP is pounds sterling.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Chartered Institute of Library Information Professionals meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

In accordance with the reduced disclosure exemptions permitted by paragraph 1.12 of FRS 102, the Charity has taken advantage of the exemption from preparing its own individual Statement of Cash Flows as disclosures equivalent to those required by the FRS are already included in the consolidated Statement of Cash Flows.

2.2 GOING CONCERN

CILIP has successfully navigated ongoing recovery from COVID-19, the planned organisational relocation and restructuring, and a transition from a long-serving CEO. Key strategic plans – including a membership ‘Community Strategy’, an improved finance system, better membership management software, and strengthened member communications and engagement tools – are well progressed, in line with CILIP’s 2023-25 Business Plan. As a result, our executive team will focus on driving previously untapped market potential for growth in membership and associated commercial activity throughout 2024-25 as set out in detail in the Trustees report.

Having reviewed the funding facilities available to CILIP together with the expected future cash flows, the Trustees have a reasonable expectation that CILIP has adequate resources to continue its activities for twelve moths from the date of approval of the financial statements and consider that there are no material uncertainties over CILIP’s financial viability. Accordingly, the Trustees are of the view that CILIP is a going concern.

Page 36

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.3 INCOME

All income is included in the Statement of Financial Activities (SOFA) when CILIP is legally entitled to them as income or capital respectively, ultimate receipt is reasonably certain and the amount to be recognised quantified with reasonable accuracy.

Membership income is the subscription received from members to buy a right to services and other benefits and this is recognised as income from charitable activities.

Income from rent, royalties, interest, dividend and other income is accounted for when receivable and can be measured reliably by CILIP.

Donation and grants (including government grants) income: is recognised when there is evidence of entitlement to the gift, receipt is probable and the amount can be measured reliably.

Legacy: receipt of a legacy is recognised when it is probable that it will be received. Legacy receipt is probable when:

2.4 EXPENDITURE

All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party on an accruals basis, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure has been classified under headings that aggregate all costs related to each activity. Where costs cannot be directly attributed to a particular heading, they have been allocated to activities on a basis consistent with the use of the resource.

Support costs have been allocated to activities on the following basis:

Building costs: square footage occupied Personnel costs: per capita basis ICT and finance costs: estimated time spent Governance costs: proportion of total charitable expenditure and cost of raising funds

Governance costs relate to the organisational administration in compliance with constitutional and statutory requirements.

Costs of raising funds are primarily those incurred in raising funds for CILIP’s charitable activities and the activities of CILIP Pathways Limited.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

2.5 OPERATING LEASES

Rental incomes under operating leases where substantially all of the benefits and risks of ownership remain with the lessors are recognised in the statement of financial activities as income.

Page 37

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.6 EMPLOYEE BENEFITS

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Termination benefits are accounted for on an accruals basis and in line with FRS 102.

2.7 GOVERNMENT GRANTS

Government grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred. Government grants received in the year were from ACE (Arts Council England) and the Welsh Assembly Government.

2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Freehold property is measured at fair value. In any accounting period where a revaluation is not undertaken an impairment review will be conducted and provision would be made for any impairment.

Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date.

Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers.

Gains and losses on revaluation are recognised in the Consolidated Statement of Financial Activities, with a separate revaluation reserve being shown in the Statement of funds note.

Other tangible fixed assets are initially recognised at cost. After recognition, they are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives .

Depreciation is provided on the following basis:

Fixtures, fittings and equipment - 20% per annum on cost Computer and programmes - 25% per annum on cost

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Financial Activities.

Page 38

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.9 INVESTMENTS

Investments listed on a recognised stock exchange are stated at fair value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Unlisted investments, where there is no reliable fair value, are held at cost and reviewed annually for impairment.

2.10 STOCKS

Stocks are valued at the lower of cost and net realisable value after making allowance for any obsolete or slow-moving items. In the case of work in progress and finished goods, costs consist of direct materials, direct labour and attributable overheads. Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution.

2.11 FINANCIAL INSTRUMENTS

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.13 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.14 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation.

Page 39

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

2.15 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.16 PENSIONS

Defined contribution pension scheme

Payments made by CILIP into the group stakeholder salary sacrifice pension scheme on behalf of individual employees are charged to the Statement of Financial Activities as incurred.

Defined benefit pension scheme

The assets of the scheme are held separately from those of CILIP in an independently administered fund. The scheme is funded by contributions from the employer in accordance with the recommendations of independent qualified actuaries on the basis of triennial valuations. The Pensions Act 2004 sets out a statutory funding objective: that every pension scheme must have sufficient and appropriate assets to cover its funding target (referred to in legislation as Technical Provisions) and if there is a shortfall the trustees and the employer are required to agree a Recovery Plan to make this good. The pension scheme was closed to new members on 1 April 2009 and was closed to existing members for further accruals from 31 March 2011.

For CILIP’s defined benefit pension scheme the amounts charged in arriving at net income/ (expenditure) in the Statement of Financial Activities are the expenses and net interest costs & income, employer’s contributions and benefits paid. Actuarial gains and losses are also recognised in the Statement of Financial Activities together with other recognised gains and losses. Further details of the defined benefit pension scheme are set out in the notes to the accounts.

Page 40

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Sale of building

In 2022, 7 Ridgmount Street was revalued to its market value. The costs of managing the sale and orderly departure from the building were not reflected in that valuation, resulting in the one-off costs shown in note 10 that arose on the sale.

Defined benefit pension scheme

The valuation of the defined benefit pension scheme asset/liability is subject to many actuarial assumptions, such as future interest rates, inflation, pension increases and mortality rates. Small variations in the assumptions can cause material swings in the value of the defined benefit asset/liability disclosed on the Balance Sheet. The pension scheme asset/liability is also impacted by payments made to the scheme by the sponsoring employer. More detail is given in note 30. At the reporting date, reasonable possible changes to one of the relvant actuarial assumptions, with the other assumptions held constant, would have affected the defined benefit obligation by the amounts shown below

31 December 2023
Increase in obligation (£000)
Discount rate +0.25% (520)
Inflation (RPI and CPI) +0.25% 410
Life expectancy + 1year 730

At the 31 December 2023, the defined benefit asset was £1,038,000 (2022: defined benefit liability of £4,450,000). The pension scheme value in the financial statements is capped at £nil as the sponsoring employer may not be able to recover any overpayment directly on final closure of the scheme.

Cash held in escrow

As described in note 21, £2,799,477 is held in an escrow account. The Trustees currently believe that between £1.9m and £2.5m of the balance may be returned for the unrestricted use of CILIP, with the remainder paying for pension scheme costs. The Charity receives a quarterly dividend from the moneys held.

Page 41

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4. INCOME FROM DONATIONS AND LEGACIES - GROUP

Unrestricted
funds
2023
£
Donations from individuals
1,163
Legacies
44,148
Grants
9,154
54,465
Unrestricted
funds
2022
£
Donations from individuals
9,241
Grants
-
9,241		 Restricted
funds
2023
£
-
-
261,555
261,555
Restricted
funds
2022
£
-
207,775
207,775		 Total
funds
2023
£
1,163
44,148
270,709
316,020
Total
funds
2022
£
9,241
207,775
217,016

Page 42

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME FROM DONATIONS AND LEGACIES - CHARITY

Unrestricted
funds
2023
£
Donations from individuals
1,163
Legacies
44,148
Grants
9,154
Donation from CILIP Pathways Ltd
102,827
157,292
Unrestricted
funds
2022
£
Donations from individuals
9,241
Grants
-
9,241		 Restricted
funds
2023
£
-
-
261,555
-
261,555
Restricted
funds
2022
£
-
207,775
207,775		 Total
funds
2023
£
1,163
44,148
270,709
102,827
418,847
Total
funds
2022
£
9,241
207,775
217,016

5. INCOME FROM CHARITABLE ACTIVITIES - GROUP AND CHARITY

Unrestricted
funds
2023
£
Members' subscriptions
1,138,073
Training, events & conferences
454,956
Publications
785,369
Professional services
87,473
2,465,871		 Total
funds
2023
£
1,138,073
454,956
785,369
87,473
2,465,871

Page 43

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. INCOME FROM CHARITABLE ACTIVITIES - GROUP AND CHARITY (CONTINUED)

Members' subscriptions
Training, events & conferences
Publications
Professional services		 Unrestricted
funds
2022
£
1,211,428
547,573
834,038
105,523
2,698,562		 Total
funds
2022
£
1,211,428
547,573
834,038
105,523
2,698,562

6. INCOME FROM OTHER TRADING ACTIVITIES - GROUP

Income from non charitable trading activities

Unrestricted
funds
2023
£
CILIP Pathways income
99,487
Rent and service charges
186,312
285,799
Unrestricted
funds
2022
£
CILIP Pathways Ltd income
91,875
Rent and service charges
797,039
888,914		 Total
funds
2023
£
99,487
186,312
285,799
Total
funds
2022
£
91,875
797,039
888,914

Page 44

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME FROM OTHER TRADING ACTIVITIES - CHARITY

Unrestricted
funds
2023
£
Rent and service charges
186,312
Unrestricted
funds
2022
£
Rent and service charges
797,039		 Total
funds
2023
£
186,312
Total
funds
2022
£
797,039

7. INVESTMENT INCOME - GROUP AND CHARITY

Unrestricted
funds
2023
£
Income from investments
507,139
Bank interest income
5,911
Net pension scheme interest
115,000
628,050
Unrestricted
funds
2022
£
Income from investments
23,820
Bank interest income
1,360
25,180		 Restricted
funds
2023
£
34,770
-
-
34,770
Restricted
funds
2022
£
19,354
-
19,354		 Total
funds
2023
£
541,909
5,911
115,000
662,820
Total
funds
2022
£
43,174
1,360
44,534

Page 45

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. EXPENDITURE ON RAISING FUNDS - GROUP

Unrestricted
funds
2023
£
Rent and service charge support costs
203,864
CILIP Pathways Ltd
46,822
250,686
Unrestricted
funds
2022
£
Rent and service charge support costs
238,581
CILIP Pathways Ltd
35,311
273,892		 Total
funds
2023
£
203,864
46,822
250,686
Total
funds
2022
£
238,581
35,311
273,892

EXPENDITURE ON RAISING FUNDS - CHARITY

Unrestricted
funds
2023
£
Rent and service charge support costs
203,214
Unrestricted
funds
2022
£
Rent and service charge support costs
238,581		 Total
funds
2023
£
203,214
Total
funds
2022
£
238,581

Page 46

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES - GROUP AND CHARITY

Summary by fund type

Unrestricted
funds
2023
£
Training, events & conferences
329,487
Publications
481,989
Professional services
3,271,691
4,083,167
Unrestricted
funds
2022
£
Training, events & conferences
404,517
Publications
394,545
Professional services
2,951,440
3,750,502
10.
OTHER EXPENDITURE - GROUP AND CHARITY
Unrestricted
funds
2023
£
Loss on sale of fixed assets
521,565
Defined benefit pension scheme past service cost
1,305,000
1,826,565		 Restricted
funds
2023
£
-
-
323,963
323,963
Restricted
funds
2022
£
-
-
266,677
266,677
Total
funds
2023
£
521,565
1,305,000
1,826,565		 Total
2023
£
329,487
481,989
3,595,654
4,407,130
Total
2022
£
404,517
394,545
3,218,117
4,017,179
Total
funds
2022
£
-
-
-

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. ANALYSIS OF EXPENDITURE BY ACTIVITIES - GROUP AND CHARITY

Training, events & conferences
Publications
Professional services
Training, events & conferences
Publications
Professional services		 Activities
undertaken
directly
2023
£
279,813
346,604
2,123,241
2,749,658
Activities
undertaken
directly
2022
£
380,501
329,566
2,659,381
3,369,448		 Support
costs
2023
£
49,674
135,385
1,472,413
1,657,472
Support
costs
2022
£
24,016
64,979
558,736
647,731		 Total
funds
2023
£
329,487
481,989
3,595,654
4,407,130
Total
funds
2022
£
404,517
394,545
3,218,117
4,017,179

ANALYSIS OF DIRECT COSTS

Training,
events &
conferences
2023
£
Staff costs
54,823
Business driver and other direct costs
194,990
Professional costs
30,000
Other costs
-
279,813		 Publications
2023
£
167,970
176,336
2,298
-
346,604		 Professional
services
2023
£
1,199,958
615,110
264,047
44,126
2,123,241		 Total
funds
2023
£
1,422,751
986,436
296,345
44,126
2,749,658

Page 48

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. ANALYSIS OF EXPENDITURE BY ACTIVITIES - GROUP AND CHARITY (CONTINUED)

ANALYSIS OF DIRECT COSTS (continued)

Net pension scheme interest
Staff costs
Business driver and other direct costs
Professional costs
Other costs		 Training,
events &
conferences
2022
£
-
102,905
277,596
-
-
380,501		 Publications
2022
£
-
147,659
181,907
-
-
329,566		 Professional
services
2022
£
91,000
951,224
1,027,640
375,470
214,047
2,659,381		 Total
funds
2022
£
91,000
1,201,788
1,487,143
375,470
214,047
3,369,448

ANALYSIS OF SUPPORT COSTS

Training,
events &
conferences
2023
£
Finance
29,482
Personnel
5,319
Building
633
ICT
10,610
Governance costs
3,630
49,674		 Publications
2023
£
78,619
21,276
1,887
28,293
5,310
135,385		 Professional
services
2023
£
845,156
223,396
60,095
304,154
39,612
1,472,413		 Total
funds
2023
£
953,257
249,991
62,615
343,057
48,552
1,657,472

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. ANALYSIS OF EXPENDITURE BY ACTIVITIES - GROUP AND CHARITY (CONTINUED)

ANALYSIS OF SUPPORT COSTS (continued)

Finance
Personnel
Building
ICT
Governance costs		 Training,
events &
conferences
2022
£
7,612
3,029
1,246
9,006
3,123
24,016		 Publications
2022
£
20,299
12,114
3,726
24,015
4,825
64,979		 Professional
services
2022
£
182,695
93,878
16,879
231,148
34,136
558,736		 Total
funds
2022
£
210,606
109,021
21,851
264,169
42,084
647,731

12. AUDITORS' REMUNERATION - GROUP

2023 2022
£ £
Fees payable to the Charity's auditor in respect of:
Audit of CILIP consolidated accounts 31,550 17,650
Audit of CILIP Pathways Ltd accounts - 6,450
Independent examination of CILIP Benevolent Fund accounts - 1,200
Preparation of CILIP and CILIP Pathways accounts 4,950 -
Tax services 1,250 -
Accounts assistance 4,820 -

Page 50

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. STAFF COSTS - GROUP

Wages and salaries
Social security costs
Contribution to defined contribution pension scheme		 2023
£
1,611,687
154,540
136,280
1,902,507		 2022
£
1,730,666
176,815
143,403
2,050,884

During the year, redundancy and termination costs amounting to £103,459 (2022: £30,920) were incurred as a result of a restructuring.

In addition to the total staff costs above, CILIP in 2023 used the services of agency staff whilst awaiting the recruitment to vacant posts, making a total cost of £86,944 (2022: £22,415).

The average headcount during the year was 44 (2022: 47).

The key management personnel of CILIP comprises the trustees, member network committee members, the Chief Executive Officer, Director of Transformation, Chief Development Officer and the rest of the senior leadership team. The total employee benefits for the key management personnel were £668,505 (2022: £561,756).

The number of employees whose emoluments exceeded £60,000 in the year was:

2023 2022
Number Number
£60,001 to £70,000 1 1
£80,001 to £90,000 1 1

14. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 December 2023, expenses totalling £1,162 were reimbursed or paid directly to 6 Trustees (2022 - £416 to 5 Trustees). The expenses related to travel, subsistence, amounts directly paid to third parties and other out-of-pocket costs incurred in attending meetings. During the year, CILIP paid £1,324 (2022: £969) in respect of Trustees' indemnity insurance on behalf of Trustees. 23 free places are made available for attendance at the Annual Conference, which are taken by both staff and Trustees.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. INVESTMENT IN SUBSIDIARY COMPANIES

Name of company Country of Holding and Proportion Nature of registration operation business CILIP Pathways England Company limited 100% Apprenticeship Limited by guarantee and assessment not having a share capital

CILIP Pathways Limited (registered company no 12497166) incorporated on 4 March 2020 as a trading subsidiary of the parent charity, CILIP. CILIP Pathways Ltd was set up to conduct assessment of apprenticeships. The customers are the employers of apprentices, the apprentices and apprenticeshiptraining providers. The results of the company's trading activities during 2023 are set out below.

Profit and Loss Account

Turnover
Cost of sales
Gross profit
Administration expenses
Profit before gift aid payment
Gift aid donation to parent charity
(Loss)/profit before and after taxation		 2023
£
99,487
(29,879)
69,608
(16,943)
52,665
(102,827)
(50,162)		 2022
£
91,875
(21,480)
70,395
(13,831)
56,564
-
56,564

Summarised Balance Sheet

Debtors
Cash
Current assets
Creditors and accrued charges
Total net assets
Total reserves		 2023
£
9,611
45,519
55,130
(55,130)
-
-		 2022
£
5,700
124,113
129,813
(79,651)
50,162
50,162

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

16. TANGIBLE FIXED ASSETS

GROUP AND CHARITY

COST
At 1 January 2023
Additions
Disposals
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for the year
On disposals
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Freehold
property
£
25,025,000
-
(25,025,000)
-
-
-
-
-
-
25,025,000		 Fixtures and
fittings
£
202,822
-
(55,840)
146,982
184,953
557
(38,528)
146,982
-
17,869		 Computer
equipment
£
356,726
27,147
-
383,873
348,094
10,117
-
358,211
25,662
8,632		 Other fixed
assets
£
302,218
-
-
302,218
302,218
-
-
302,218
-
-		 Total
£
25,886,766
27,147
(25,080,840)
833,073
835,265
10,674
(38,528)
807,411
25,662
25,051,501

17. FIXED ASSET INVESTMENTS

GROUP AND CHARITY
COST OR VALUATION
At 1 January 2023
Additions
Disposals
Revaluations
AT 31 DECEMBER 2023		 Listed
investments
£
532,524
6,707,371
(438,051)
(85,144)
6,716,700		 Unlisted
investments
£
1
-
-
-
1		 Total
£
532,525
6,707,371
(438,051)
(85,144)
6,716,701

Page 53

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

17. FIXED ASSET INVESTMENTS (CONTINUED)

Unlisted investments: Library Services Limited

At 31 December 2023 and 31 December 2022, CILIP held one share out of 1,000 share issued in Library Services Limited, an unlisted company.

Listed investments comprised the following:

M&G Charity Multi Asset Fund Inc
M&G Equities Investment Fund for Charities (Charifund) GBP Inc
M&G Dividend Fund GBP A Inc		 2023
£
6,197,562
492,029
27,109
6,716,700		 2022
£
-
503,869
28,655
532,524

18. STOCKS

Work in progress books
Finished books		 Group
2023
£
2,633
54,218
56,851		 Group
2022
£
2,020
69,443
71,463		 Charity
2023
£
2,633
54,218
56,851		 Charity
2022
£
2,020
69,443
71,463

19. DEBTORS

DUE WITHIN ONE YEAR
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 Group
2023
£
237,361
-
43,245
242,596
523,202		 Group
2022
£
261,599
-
84,707
77,125
423,431		 Charity
2023
£
227,750
6,830
43,245
242,596
520,421		 Charity
2022
£
261,599
30,901
79,007
77,125
448,632

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

20. CURRENT ASSET INVESTMENTS

Group Group Charity Charity
2023 2022 2023 2022
£ £ £ £
Listed investments 383,663 392,894 383,663 392,894

21. CASH HELD IN ESCROW

CILIP is a sponsoring employer of a defined benefit pension scheme known as the Chartered Institute of Library and Information Professionals Pension and Assurance Scheme. To secure the scheme for its members, and to ensure CILIP’s long-term viability, CILIP entered into a framework agreement with the scheme Trustees (Vidett). As part of that framework agreements, CILIP agreed to sell the Property and agreed that the proceeds of sale would be apportioned as follows:

  1. A payment to the Scheme equal to the outstanding deficit repair contributions due under the existing schedule of contributions agreed as part of the valuation of the Scheme required under the statutory scheme funding regime.

  2. Funds for CILIP to use at its discretion (with the caveat under the Framework Agreement that £1.5m of this payment shall not be used or applied by CILIP except for the purposes of maintaining or improving its long- term employer covenant).

  3. Funds, equal to at least the section 75 deficit of the Scheme (calculated immediately prior to the sale of the Property) less the amount paid to the Scheme under paragraph (a) above, into an escrow account.

Under its Royal Charter, CILIP has the power to deal with its property and make payments to the scheme (as required by a responsible employer). The Escrow fund is held jointly by Vidett and CILIP and covers the on-going costs associated with pension scheme.

22. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CBIL loan
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2023
£
34,286
112,962
63,242
238,556
556,406
1,005,452		 Group
2022
£
68,571
144,549
75,698
38,354
709,532
1,036,704		 Charity
2023
£
34,286
88,944
63,242
238,556
532,124
957,152		 Charity
2022
£
68,571
144,549
75,698
26,673
673,112
988,603

The CBIL loan was used to supplement CILIP's operations between June and September 2020 due to the impact of the pandemic on CILIP's income. The loan is repayable over 42 months and the interest rate is 1.85% above the Bank of England Base Rate.

Page 55

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

22. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (CONTINUED)

Deferred income at 1 January 2023
Resources deferred during the year
Amounts released from previous periods		 Group
2023
£
Group
2023
£
488,964
351,096
(488,964)
351,096		 Group
2022
£
Group
2022
£
367,466
429,960
(308,462)
488,964		 Charity
2023
£
Charity
2023
£
458,994
331,856
(458,994)
331,856		 Charity
2022
£
Charity
2022
£
361,296
404,960
(307,262)
458,994

Deferred income comprises advance rental, conference, training vouchers and membership income; plus contract income for CILIP Pathways Ltd.

23. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2023
£
CBIL loan
-
Other creditors
23,247
23,247
Included within the above are amounts falling due as follows:
Group
2023
£
BETWEEN ONE AND TWO YEARS
CBIL loan
-		 Group
2022
£
34,286
23,247
57,533
Group
2022
£
34,286		 Charity
2023
£
-
23,247
23,247
Charity
2023
£
-		 Charity
2022
£
34,286
23,247
57,533
Charity
2022
£
34,286

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

24. FINANCIAL INSTRUMENTS

FINANCIAL ASSETS
Financial assets measured at fair value
through income and expenditure
Financial assets measured at amortised cost
FINANCIAL LIABILITIES
Other financial liabilities measured at fair
value through income and expenditure		 Group
2023
£
7,100,364
4,979,988
12,080,352
Group
2023
£
662,811		 Group
2022
£
925,419
2,128,660
3,054,079
Group
2022
£
529,575		 Charity
2023
£
7,100,364
4,874,298
11,974,662
Charity
2023
£
679,190		 Charity
2022
£
925,419
2,029,747
2,955,166
Charity
2022
£
511,444

Financial assets measured at fair value include investments.

Financial assets measured at amortised cost include: short term deposits, cash in hand, trade debtors and other debtors.

Financial liabilities measured at amortised cost include trade creditors, other creditors and accruals.

Page 57

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. STATEMENT OF FUNDS

GROUP STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Fixed asset
reserve
Development
fund
GENERAL
FUNDS
Revaluation
reserve
Central
operations fund
CILIP Pathways
Ltd funds
Member
networks
Pension reserve
TOTAL
UNRESTRICTED
FUNDS		 Balance at 1
January
2023
£
1,520,412
143,352
1,663,764
23,399,496
634,380
50,812
696,760
(4,450,000)
20,331,448
21,995,212		 Income
£
-
-
-
-
3,036,618
99,487
183,080
115,000
3,434,185
3,434,185		 Expenditure
£
(10,674)
(19,959)
(30,633)
-
(3,897,727)
(150,299)
(141,759)
(1,940,000)
(6,129,785)
(6,160,418)		 Transfers
in/out
£
(1,484,076)
-
(1,484,076)
(23,399,496)
9,894,731
-
-
15,032,000
1,527,235
43,159		 Gains/
(Losses)
£
-
-
-
-
(94,972)
-
-
(8,757,000)
(8,851,972)
(8,851,972)		 Balance at
31
December
2023
£
25,662
123,393
149,055
-
9,573,030
-
738,081
-
10,311,111
10,460,166

Page 58

Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. STATEMENT OF FUNDS (CONTINUED)

Balance at
Balance at 1 31
January Transfers Gains/ December
2023 Income Expenditure in/out (Losses) 2023
£ £ £ £ £ £
RESTRICTED
FUNDS
Mitchell Memorial
Fund 8,599 - - - - 8,599
Anthony
Thompson
Scholarship Fund 8,962 - - - (2,145) 6,817
Arundell Esdaile
Esdaile Memorial
Prize 2,557 - - - (558) 1,999
Catherine
Hamilton
Memorial Prize 1,098 - - - - 1,098
K Pierce - Legacy 10,482 - - - (2,289) 8,193
F Robinson -
Legacy 12,923 - - - (2,821) 10,102
Colin Mears -
Legacy 370,951 1,066 - (3,974) (8,052) 359,991
D Chilcot -
Legacy 13,389 630 - 977 - 14,996
Bob McKee -
CILIP/IFLA Award 97 - - - - 97
ACE Independent
Review of Public
Library 162 - - (162) - -
Green Libraries 15,460 - (15,460) - - -
ACE - Future
Skills in Public
Libraries 63,929 10,000 (33,929) (40,000) - -
ACE - Working
Internationally
Phase 2 5,000 3,600 (8,600) - - -
Workforce
Mapping Project 19,000 - (19,000) - - -
Designing
Libraries 20,904 11,150 (28,997) - - 3,057
Welsh
government anti
racist library
collection - 46,264 (22,428) - - 23,836
Great school
libraries - 51,615 (47,149) - - 4,466

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - CURRENT YEAR (continued)

Balance at 1
January
2023
£
ACE - future
libraries
-
ACE - Safe and
inclusive libraries
-
ACE - green
libraries phase 1b
-
GA Cooks legacy
- CILIP Cymru
161,206
714,719
TOTAL OF
FUNDS
22,709,931		 Income
£
Expenditure
£
80,000
(71,809)
20,000
(20,000)
72,000
(56,591)
-
-
296,325
(323,963)
3,730,510
(6,484,381)		 Transfers
in/out
£
-
-
-
-
(43,159)
-		 Gains/
(Losses)
£
-
-
-
(3,789)
(19,654)
(8,871,626)		 Balance at
31
December
2023
£
8,191
-
15,409
157,417
624,268
11,084,434

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. STATEMENT OF FUNDS (CONTINUED)

GROUP STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Fixed asset reserve
Development fund
GENERAL FUNDS
Revaluation reserve
Central operations fund
CILIP Pathways Ltd funds
Member networks
Pension reserve
TOTAL UNRESTRICTED
FUNDS		 Balance at
1 January
2022
£
1,659,045
152,370
1,811,415
24,624,496
958,817
(5,752)
693,294
(4,934,000)
21,336,855
23,148,270		 Income
£
-
-
-
-
3,316,983
91,875
213,039
-
3,621,897
3,621,897		 Expenditure
£
(138,633)
(9,018)
(147,651)
-
(3,619,859)
(35,311)
(209,573)
(12,000)
(3,876,743)
(4,024,394)		 Gains/
(Losses)
£
-
-
-
(1,225,000)
(21,561)
-
-
496,000
(750,561)
(750,561)		 Balance at
31
December
2022
£
1,520,412
143,352
1,663,764
23,399,496
634,380
50,812
696,760
(4,450,000)
20,331,448
21,995,212

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CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. STATEMENT OF FUNDS (CONTINUED)

RESTRICTED FUNDS
Mitchell Memorial Fund
Anthony Thompson
Scholarship Fund
Arundell Esdaile Esdaile
Memorial Prize
Catherine Hamilton Memorial
Prize
K Pierce - Legacy
F Robinson - Legacy
Colin Mears - Legacy
D Chilcot - Legacy
Bob McKee - CILIP/IFLA Award
ACE Independent Review of
Public Library
Green Libraries
ACE - Future Skills in Public
Libraries
ACE - Working Internationally
Phase 2
Workforce Mapping Project
Designing Libraries
GA Cooks legacy - CILIP
Cymru
TOTAL OF FUNDS		 Balance at
1 January
2022
£
8,774
9,823
2,785
1,120
11,420
14,079
388,797
13,662
99
5,975
-
80,000
36,000
39,000
4,209
170,715
786,458
23,934,728		 Income
£
-
-
-
-
-
-
20,679
-
-
-
146,700
32,000
-
-
27,750
-
227,129
3,849,026		 Expenditure
£
(175)
(183)
(52)
(22)
(214)
(264)
(18,313)
(273)
(2)
(5,813)
(131,240)
(48,071)
(31,000)
(20,000)
(11,055)
-
(266,677)
(4,291,071)		 Gains/
(Losses)
£
-
(678)
(176)
-
(724)
(892)
(20,212)
-
-
-
-
-
-
-
-
(9,509)
(32,191)
(782,752)		 Balance at
31
December
2022
£
8,599
8,962
2,557
1,098
10,482
12,923
370,951
13,389
97
162
15,460
63,929
5,000
19,000
20,904
161,206
714,719
22,709,931

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CHARITY STATEMENT OF FUNDS - CURRENT YEAR

Balance at 1
January
2023		 **Income ** Expenditure Transfers
in/out		 Gains/
(losses)		 Balance at
31
December
2023
£ £ £ £ £ £
UNRESTRICTED
FUNDS
Fixed asset
reserve		 1,520,412 - (10,674) (1,484,076) - 25,662
Development
fund		 143,352 - (19,959) - - 123,393
1,663,764 - (30,633) (1,484,076) - 149,055
GENERAL
FUNDS
Revaluation
reserve		 23,399,496 - - (23,399,496) - -
Central
operations fund		 634,380 3,139,445 (4,000,554) 9,894,731 (94,972) 9,573,030
Member
networks		 696,760 183,080 (141,759) - - 738,081
Pension reserve (4,450,000) 115,000 (1,940,000) 15,032,000 (8,757,000) -
20,280,636 3,437,525 (6,082,313) 1,527,235 (8,851,972) 10,311,111
TOTAL
UNRESTRICTED
FUNDS		 21,944,400 3,437,525 (6,112,946) 43,159 (8,851,972) 10,460,166
RESTRICTED
FUNDS
Mitchell Memorial
Fund		 8,599 - - - - 8,599
Anthony
Thompson
Scholarship Fund		 8,962 - - - (2,145) 6,817
Arundell Esdaile
Esdaile Memorial
Prize		 2,557 - - - (558) 1,999
Catherine
Hamilton
Memorial Prize		 1,098 - - - - 1,098
K Pierce-Legacy 10,482 - - - (2,289) 8,193

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

F Robinson -
Legacy		 12,923 - - - (2,821) 10,102
Colin Mears -
Legacy		 370,951 1,066 - (3,974) (8,052) 359,991
D Chilcot -
Legacy		 13,389 630 - 977 - 14,996
Bob McKee -
CILIP/IFLA
Award		 97 - - - - 97
ACE Independent
Review of Public
Library		 162 - - (162) - -
Green Libraries 15,460 - (15,460) - - -
ACE - Future
Skills in Public
Libraries		 63,929 10,000 (33,929) (40,000) - -
ACE - Working
Internationally
Phase 2		 5,000 3,600 (8,600) - - -
Workforce
Mapping Project		 19,000 - (19,000) - - -
Designing
Libraries		 20,904 11,150 (28,997) - - 3,057
Welsh
government anti
racist library
collection		 - 46,264 (22,428) - - 23,836
Great school
libraries		 - 51,615 (47,149) - - 4,466
ACE - future
libraries		 - 80,000 (71,809) - - 8,191
ACE - Safe and
inclusive libraries		 - 20,000 (20,000) - - -
ACE - green
libraries phase 1b		 - 72,000 (56,591) - - 15,409
GA Cooks legacy
-CILIP Cymru		 161,206 - - - (3,789) 157,417
714,719 296,325 (323,963) (43,159) (19,654) 624,268
TOTAL OF
FUNDS		 22,659,119 3,733,850 (6,436,909) - (8,871,626) 11,084,434

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CHARITY STATEMENT OF FUNDS - PRIOR YEAR

Balance at 1
January
2022		 **Income ** Expenditure Transfers
in/out		 Gains/
(losses)		 Balance at
31
December
2022
£ £ £ £ £ £
UNRESTRICTED
FUNDS
Fixed asset
reserve		 1,659,045 - (138,633) - - 1,520,412
Development
fund		 152,370 - (9,018) - - 143,352
1,811,415 - (147,651) - - 1,663,764
GENERAL
FUNDS
Revaluation
reserve		 24,624,496 - - - (1,225,000) 23,399,496
Central
operations fund		 958,817 3,316,983 (3,619,859) - (21,561) 634,380
Member
networks		 693,294 213,039 (209,573) - - 696,760
Pension reserve (4,934,000) - (12,000) - 496,000 (4,450,000)
21,342,607 3,530,022 (3,841,432) - (750,561) 20,280,636
TOTAL
UNRESTRICTED
FUNDS		 23,154,022 3,530,022 (3,989,083) - (750,561) 21,944,400
RESTRICTED
FUNDS
Mitchell Memorial
Fund		 8,774 - (175) - - 8,599
Anthony
Thompson
Scholarship Fund		 9,823 - (183) - (678) 8,962
Arundell Esdaile
Esdaile Memorial
Prize		 2,785 - (52) - (176) 2,557
Catherine
Hamilton
Memorial Prize		 1,120 - (22) - - 1,098
K Pierce-Legacy 11,420 - (214) - (724) 10,482

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

F Robinson -
Legacy		 14,079 - (264) - (892) 12,923
Colin Mears -
Legacy		 388,797 20,679 (18,313) - (20,212) 370,951
D Chilcot -
Legacy		 13,662 - (273) - - 13,389
Bob McKee -
CILIP/IFLA
Award		 99 - (2) - - 97
ACE Independent
Review of Public
Library		 5,975 - (5,813) - - 162
Green Libraries - 146,700 (131,240) - - 15,460
ACE - Future
Skills in Public
Libraries		 80,000 32,000 (48,071) - - 63,929
ACE - Working
Internationally
Phase 2		 36,000 - (31,000) - - 5,000
Workforce
Mapping Project		 39,000 - (20,000) - - 19,000
Designing
Libraries
GA Cooks legacy
-CILIP Cymru		 4,209
170,715		 27,750
-		 (11,055)
-		 -
-		 -
(9,509)		 20,904
161,206
786,458 227,129 (266,677) - (32,191) 714,719
TOTAL OF
FUNDS		 23,940,480 3,757,151 (4,255,760) - (782,752) 22,659,119

Restricted funds

The Mitchell Memorial Fund provides loans to members to fund full or part-time study to further their careers. CILIP’s Board of Trustees merged Henrik Jones Memorial Prize with the Mitchell Memorial fund in 2017 because postgraduate course no longer offered at the University of Brighton.

Anthony Thompson Scholarship Fund enables a qualified library and information professional from outside the UK to visit and study some aspects of UK library and information work for two to three weeks. The International Library and Information Group (CILIP special interest group) manage the award for CILIP.

Arundell Esdaile Memorial Fund was set up to endow a lecture given periodically on librarianship and bibliography. Only the interest from the fund may be used.

Catherine Hamilton Memorial Prize awarded for the most outstanding Master’s dissertation in the broad area of information retrieval or electronic text management.

K Pierce – legacy assists librarians to carry out engagements which would further the interests of librarianship in attending conferences overseas (not IFLA).

F Robinson – legacy was set up to reward innovation in library administration and particularly aimed at para professionals. Only the interest from the fund may be used.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

The Colin Mears legacy provides funds for the Colin Mears Awards for the illustration of children’s books.

The D Chilcot legacy provides funds to be utilised for information facilities at CILIP and education purposes.

Bob McKee-CILIP/IFLA Aspire award helps new professionals develop through networking at UK and international events. IFLA provides an international bursary to support new professionals.

Arts Council England (ACE) grant given for the independent review of Public Libraries financing.

ACE-Future skills in Public libraries grant given for the Induction pack and digital skills training for public libraries workforce.

ACE-Working internationally Phase 2 grant given to continue to develop international working for public libraries in England.

Workforce mapping project is a consortium of organisations embarking on mapping libraries and information manager’s workforce within the United Kingdom.

Designing Libraries is a Community Interest Company that CILIP currently supports until they are able to operate independently.

Welsh Government – Anti-Racist Wales Action Plan – grant in support of a training plan for public libraries in Wales.

Great school libraries – grant in support of the Great School Libraries campaign to bring back libraries and access to librarians in every school in the UK.

ACE - future libraries is a project that will challenge and engage librarians and library leaders to reimagine libraries in a world of climate change, population shift and digital advancement.

ACE - Safe and inclusive libraries funding to provide clear decision making guidance to public librarians and staff who make decisions around stock, public internet access, use of space and public programming.

ACE - green libraries phase 1b funding to support the Green Libraries Campaign, a project helping libraries reduce their environmental impact and promote sustainability in their communities.

The GA Cooks legacy; was donated for use by the Welsh Member Network of CILIP.

Designated funds

The fixed asset reserve is established to represent the net book value of fixed assets, which is not attributable to other reserves. The transfer from this reserve relates mainly to the sale of 7 Ridgmount Street, London.

The development fund is designated for investment in CILIP’s development and transformation work, and to support our plans for membership growth/retention and income diversification.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

26. ANALYSIS OF NET ASSETS BETWEEN FUNDS

GROUP ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted
funds
2023
£
Tangible fixed assets
25,662
Fixed asset investments
6,224,672
Current assets
5,238,531
Creditors due within one year
(1,005,452)
Creditors due in more than one year
(23,247)
TOTAL
10,460,166		 Restricted
funds
2023
£
-
492,029
132,239
-
-
624,268		 Total
funds
2023
£
25,662
6,716,701
5,370,770
(1,005,452)
(23,247)
11,084,434

GROUP ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
TOTAL		 Unrestricted
funds
2022
£
25,051,501
143,353
2,344,595
(1,036,704)
(57,533)
(4,450,000)
21,995,212		 Restricted
funds
2022
£
-
389,172
325,547
-
-
-
714,719		 Total
funds
2022
£
25,051,501
532,525
2,670,142
(1,036,704)
(57,533)
(4,450,000)
22,709,931

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CHARITY ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted
funds
2023
£
Tangible fixed assets
25,662
Fixed asset investments
6,224,672
Current assets
5,190,231
Creditors due within one year
(957,152)
Creditors due in more than one year
(23,247)
10,460,166		 Restricted
funds
2023
£
-
492,029
132,239
-
-
624,268		 Total
funds
2023
£
25,662
6,716,701
5,322,470
(957,152)
(23,247)
11,084,434

CHARITY ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Unrestricted
funds
2022
£
Tangible fixed assets
25,051,501
Fixed asset investments
143,353
Current assets
2,245,682
Creditors due within one year
(988,603)
Creditors due in more than one year
(57,533)
Provisions for liabilities and charges
(4,450,000)
21,944,400		 Restricted
funds
2022
£
-
389,172
325,547
-
-
-
714,719		 Total
funds
2022
£
25,051,501
532,525
2,571,229
(988,603)
(57,533)
(4,450,000)
22,659,119

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

27. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the year (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Depreciation charges
Losses on investments
Dividends, interest and rents from investments
Loss on sale of fixed assets
Decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Life members provision in advance
Defined benefit pension scheme actuarial movements
NET CASH USED IN OPERATING ACTIVITIES		 Group
2023
£
(2,868,497)
10,674
114,626
(662,820)
521,564
14,612
(99,771)
3,033
-
(13,092,000)
(16,058,579)		 Group
2022
£
(495,797)
8,440
53,752
(44,534)
-
23,599
155,024
(237,705)
3,950
12,000
(521,271)
28.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
The balance above excludes cash held in escrow (see note 21).		 Group
2023
£
1,607,577		 Group
2022
£
1,782,354

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

29. ANALYSIS OF CHANGES IN NET DEBT

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Short-term investments		 At 1
January
2023
£
1,782,354
-
(68,571)
(34,286)
392,894
2,072,391		 Cash flows
£
(174,777)
-
68,571
-
-
(106,206)		 Other non-
cash
changes
£
-
-
(34,286)
34,286
(9,231)
(9,231)		 At 31
December
2023
£
1,607,577
-
(34,286)
-
383,663
1,956,954

30. PENSION COMMITMENTS

CILIP’s existing employees were entitled to join the Scottish Widows group stakeholder salary sacrifice pension scheme, which is funded by 5% of salary contribution from employees and 10% of salary contribution by the employer. New and existing employees who are not in the scheme may join at any time. Staff may opt-out of the scheme at any time. The amount paid into the scheme by CILIP in 2023 was £136,280 (2022: £143,403). The amount within trade creditors in note 22 above was £21,176 (2022: £17,673).

The Group operates a defined benefit pension scheme.

This is a separate trustee administered fund, holding the pension scheme assets to meet long term pension liabilities. The results of the most recent triennial actuarial valuation as at 31 December 2022 revealed a funding shortfall of £11,755,000. In accordance with the updated schedule of contributions, CILIP paid £9.5m in March 2023 and £2.45m in December 2023 to repair the deficit. A further £3.05m was paid in December 2023 to cover future expenses and the cost of the insurance buy-in premium paid in December 2023. Following these contributions, CILIP will no longer be liable for the payment of regular deficit repair contributions and ongoing scheme costs will be covered from funds held jointly in escrow. The amount held in escrow has been used during the period for contributions to the scheme, as shown below. The amount remaining in escrow at the year end was £2,799,477.

The full actuarial valuation carried out at 31 December 2022 was updated to 31 December 2023 by a qualified actuary, independent of the scheme's sponsoring employer.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

30. PENSION COMMITMENTS (CONTINUED)

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

Discount rate
Allowance for pension in payment increases of RPI (p.a.)
Allowance for pension in payment increases of RPI or 2.5% p.a. if less
Allowance for pension in payment increases of CPI or 3% p.a. if less
Allowance for commutation of pension for cash at retirement
Inflation RPI
Inflation CPI
MORTALITY RATES (IN YEARS)
- for a male aged 40 now
- for a male aged 60 now
- for a female aged 40 now
- for a female aged 60 now		 At 31
December
2023
%
4.6
3.25
1.85
2
20
3.1
2.5
At 31
December
2023
Years
25.5
24
28.5
27		 At 31
December
2022
%
4.9
3.25
2
2.1
20
3.2
2.6
At 31
December
2022
Years
25.4
24
28.4
26.9

The Group's share of the assets in the scheme was:

Insured annuities
Cash and other liquid assets
Managed growth
Liability driven investments
TOTAL FAIR VALUE OF ASSETS		 At 31
December
2023
£
19,284,000
1,038,000
-
-
20,322,000		 At 31
December
2022
£
57,000
171,000
4,613,000
8,112,000
12,953,000

The actual return on scheme assets was £6,015,000 loss (2022 - £7,916,000 loss).

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

30. PENSION COMMITMENTS (CONTINUED)

The amounts recognised in the Consolidated Statement of Financial Activities are as follows:

Interest income
Interest cost
Administrative expenses
TOTAL AMOUNT RECOGNISED IN THE CONSOLIDATED STATEMENT
OF FINANCIAL ACTIVITIES		 2023
£
(943,000)
828,000
635,000
520,000		 2022
£
(396,000)
487,000
401,000
492,000

Movements in the present value of the defined benefit obligation were as follows:

Opening defined benefit obligation
Interest cost
Actuarial losses/(gains)
Benefits paid
Past service costs
CLOSING DEFINED BENEFIT OBLIGATION		 2023
£
17,403,000
828,000
761,000
(1,013,000)
1,305,000
19,284,000		 2022
£
26,923,000
487,000
(8,808,000)
(1,199,000)
-
17,403,000

Movements in the fair value of the Group's share of scheme assets were as follows:

Opening fair value of scheme assets
Interest income
Actuarial losses
Contributions by employer
Benefits paid
Expenses paid
CLOSING FAIR VALUE OF SCHEME ASSETS		 2023
£
12,953,000
943,000
(6,958,000)
15,032,000
(1,013,000)
(635,000)
20,322,000		 2022
£
21,989,000
396,000
(8,312,000)
480,000
(1,199,000)
(401,000)
12,953,000

None of the fair values of the assets shown above includes any direct investments in CILIP’s own financial instruments or any property occupied by, or other assets used by CILIP. In the prior year, the freehold building was subject to a charge over its full value to cover shortfalls in the pension scheme.

At the year end, the defined benefit asset was £1,038,000. The pension scheme value in the financial statements is capped at £nil as the sponsoring employer may not be able to recover any overpayment directly.

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Docusign Envelope ID: B8B9B652-EE64-4BA5-ADF6-867005BA03E4

CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

DEFINED BENEFIT COSTS RECOGNISED IN OTHER COMPREHENSIVE INCOME

Return on plan assets in excess of interest income
Actuarial loss/(gain)
Pension surplus not recognised
TOTAL LOSS/(GAIN)		 2023
£
6,958,000
761,000
1,038,000
8,757,000		 2022
£
8,312,000
(8,808,000)
-
(496,000)

31. CORPORATION TAXATION

CILIP is a registered charity and as such is exempt from taxation of its income and gains to the extent that they fall within the exemptions available to charities under the Taxes Act and are applied to its charitable objectives.

32. OPERATING LEASE COMMITMENTS

At 31 December 2023 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Land and buildings
Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
37,300
11,752
49,052		 2022
£
704,325
800,400
1,504,725

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

2023 2022
£ £
Operating lease rentals 25,548 715,017

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CHARTERED INSTITUTE OF LIBRARY INFORMATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

33. RELATED PARTY TRANSACTIONS

CILIP Benevolent Fund Registered Charity No. 237352

This trust exists for the relief of poverty of CILIP members, former members and their dependants (including former Library Association and Institute of Information Scientists members). CILIP Board appoints all trustees. CILIP provided £1,000 towards their running costs on a yearly basis. As at 31 December 2023 the amount of donation received on-behalf of CILIP Benevolent Fund and not yet transferred was £305 (2022: £679). Also, as at 31 December 2023 the amount of payment made to suppliers on behalf of CILIP Benevolent Fund and not yet paid was £nil (2022: £nil).

The John Campbell Trust Registered Charity No. 802262

This trust exists to advance the education of the public in Information Science in particular by the awarding of grants, scholarships, research fellowships and prizes. CILIP Board appoints all trustees. There were no outstanding balances for 2023 and 2022.

Library Services Trust Registered Charity No. 287404

This trust exists to promote education in librarianship, bibliography and related subjects. CILIP Board appoints two of the six trustees. There were no outstanding balances for 2023 and 2022.

CILIP Board, Presidential Team and Committee Members with arm’s length business relationship with CILIP

Jo Webb resigned from the Board on 31 December 2022. In the prior year, a royalty of £20 was paid to Jo Webb as an author of a book published for CILIP Facet publishing. CB Resourcing recruitment agency, of which Simon Burton is a director, gave £1,674 (2022: £nil) in respect of sponsorship for Employers Forum.

CILIP Pathways Ltd

At the year end, the balance due from CILIP Pathways was £6,830 (2022: £30,901). During the year, a gift aid donation of £102,827 was received by CILIP from CILIP Pathways.

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