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Company registration number 01629916 (England and Wales) Charity registration number 313304 (England and Wales)
The Institute of Heraldic and Genealogical Studies Annual Report And Unaudited Financial Statements For The Year Ended 30 June 2025
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-*The Institute of Heraldic and Genealogical Studies
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Legal And Administrative Information
| Trustees | Dr PaulA. Fox, MA, FSA, FHS, AIH (Chairman & Principal) |
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| MrsAmandaA. C. Cottrell, OBE, DL, JP John S. Titford, Esq, MA, M-és-L, FSA, FSG, LHG William D, Grassick Esq, MA(Cantab.) David Broomfield, ESQ, BA AnthonyWillenbruch, Esq, MA(Cantab) FRSA, C.Eng, FIMMM (resigned 25 January 2025) |
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| DavidAndrewBruce Babington Smith, Esq, MA, (Cantab), MBA JaneTunesi ofLiongam, MSt (Cantab), MCLIP, Dip Gen, Hon FHS Maria Sigacheva,ACCA (appointed 26April 2025) |
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| Patron | The Rt. Hon. Lord Colgrain, DL |
| President | The Rt. Hon.The Earl ofLytton, Bt |
| Vice-presidents | The Earl of Erroll, Lord High Constable ofScotland |
| The Worshipful W. Howard Connell, LL. MJHon FHG | |
| Principal | Dr Paul A. Fox, MA, FSA, FHS, AIH |
| Hon. Treasurer | David Broomfield, Esq, BA |
| KeyManagementPersonnel | Trustees (as detailed above) Mrs JaneSmyth LLB (Hons) |
| Charity number | 313304 |
| Company number | 01629916 |
| Principal address | 80-82 Northgate |
| Canterbury Kent CT1 1BA |
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| Registered office | 80-82 Northgate Canterbury |
| Kent | |
| CT1 1BA | |
| Independent examiner | Loucas |
| The Carriage House Mill Street |
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| Maidstone | |
| Kent | |
| ME156YE | |
| Bankers | National Westminster Bank pic |
| 11 The Parade | |
| Canterbury | |
| Kent.CT12SG |
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The Institute of Heraldic and Genealogical Studies
Contents
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| Trustees’ report | 1-4 |
| Statement of trustees’ responsibilities | 5 |
| Independentexaminer's report | 6 |
| Statement offinancial activities | 7 |
| Balance sheet | 8 |
| Notestothefinancialstatements | 9-18 |
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: The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements. The financial statements have been prepared in accordance with 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 (issued in October 2019), FRS102, the Charities : Act 2011, and UK Generally Accepted Accounting Practice.
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The Institute of Heraldic and Genealogical Studies Trustees' Report (Including Directors’ Report) For The Year Ended 30 June 2025
The Trustees present their report and examined financial statements of the charity for the year ended June 2025, The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements.
Objectives and activities
The charity’s objects and principal activities, as set out in the memorandum and articles of association, remain the teaching, training, research, and application of its subjects to other disciplines, together with the qualification of members of the the profession. The Institute is a charitable educational trust governed governed by the the Court of Trustees. Trustees.
: members of the the profession. The Institute is a charitable educational trust governed governed by the the Court of Trustees. Trustees. Achievements and performance : Significant activities and achievements against objectives The Court of Trustees comprised its full complement of eight members and convened four formal meetings during the year, supplemented by frequent informal contact. The accountants continued to support the Honorary Treasurer with detailed financial reporting. Despite the challenges posed by the cost-of-living crisis, the Institute delivered | strong educational income, driven by robust enrolment in Distance Learning Courses and online tutorials in : genealogy, heraldry, and allied subjects. : The Institute’s website and active social media channels (Facebook, Instagram, and X) effectively promoted educational and research programmes, disseminated news, and fostered a vibrant student community. Attendance ' at family history fairs across the UK significantly raised the Institute's profile within the genealogical and heraldic : sectors. : During the year Dr Paul Fox was appointed Principal and Jane Smyth Chief Executive Officer. A new three-year | strategic plan was developed and unanimously approved by the Trustees.
Key operational milestones included:
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Accreditation by CIPD as a training provider and formal accreditation of the Higher Certificate in Genealogy.
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Commissioning of innovative new training courses.
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Extensive renovation, insulation, and installation of full Wi-Fi coverage throughout the Institute’s Canterbury
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Recruitment of a Business Development Officer to drive growth and forge new initiatives.
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- Affiliation with FamilySearch as a public access library, providing free access to extensive LDS collections. * Launch of a Bequests and Legacies Policy, including secure storage for book and personal research collections. :
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Migration of the library catalogue to LibraryThing, enabling public online searching of holdings.
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Establishment of a public-facing heraldry, genealogy, and local history bookshop in Northgate.
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Recruitment of dedicated volunteers to support cataloguing, indexing, and digitisation.
The sale of part of the Northgate premises completed in July 2024, releasing capital for listed-building maintenance and future development.
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_‘ The Institute of Heraldic and Genealogical Studies
: Awards Day Day at Canterbury Canterbury Cathedral saw many students saw many students many students students receive certificates and awards from the Institute’s Patron, Lord Lytton, with several progressing to professional membership of either the Association of Genealogists and : Researchers in Archives Archives (AGRA) or the the Register of Qualified Qualified Genealogists (RQG). Enrolments rose across most programmes, with the Higher Certificate and Diploma continuing to attract students : from the UK and UK and and overseas. Online tutorials and workshops and workshops workshops remained highly popular. Family History Research: ‘Achievements’ Research commissions increased, delivering a modest rise in income. Both face-to-face and online research consultation options were introduced. New projects were secured, including repeat business from returning and : international clients. : Public benefit statement : The Trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when | reviewing the Trust's aims, objectives, and future activities. As an educational charity, the Institute of Heraldic and Genealogical Studies fulfils its remit through distance: learning courses in heraldry, genealogy, and related subjects. These are integrated with a structured examination : framework, enabling members of the public to gain recognised qualifications up to professional and master’s: equivalent level. The Institute continues to set and mark examinations for The Heraldry Society. Its custodianship of The Heraldry : Society's library and bookplate collection - held alongside its own extensive holdings - further enhances its scholarly : reputation. | Financial review / Income for the year amounted to £337,279 (2023/24: £212,723). Expenditure amounted to £299,389 (of which | £49,120 was attributable to building renovations) (2023/24: £210,327). As a result, a surplus of £37,890 (2023/24: i surplus £2,396) arose. As of 30 June 2028, total funds amounted to £970,310 (2023/24: £932,420). : Reserves policy : In accordance with Charity Commission guidance, the trust reviews on a regular basis the level of income reserves - that it considers appropriate. As of 30 June 2025, the Trustees consider it appropriate to hold unrestricted reserves : equivalent to at least six months’ expected general expenditure which is in the region of £109,000 (2023/24: £105,000). Unrestricted reserves at 30 June 2025 stood at £970,310 (2023/24: £932,420). | Pay policy for key management personnel : The key management personnel - Dr Paul Fox and Mrs Jane Smyth - are responsible for strategic decision-making : and day-to-day operations. All Trustees give their time freely and received no remuneration in the year. Senior staff : pay is reviewed annually and normally increased in line with market rates.
Trustees' Report (Including Directors’ Report) (Continued)
For The Year Ended 30 June 2025
Education and courses
This years accounts show continued strong performance in sales of online courses and tutorials. The annual Awards Day Day at Canterbury Canterbury Cathedral saw many students saw many students many students students receive certificates and awards from the Institute’s Patron, Lord Lytton, with several progressing to professional membership of either the Association of Genealogists and Researchers in Archives Archives (AGRA) or the the Register of Qualified Qualified Genealogists (RQG). Enrolments rose across most programmes, with the Higher Certificate and Diploma continuing to attract students from the UK and UK and and overseas. Online tutorials and workshops and workshops workshops remained highly popular.
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: The Trustees have examined the major strategic, business, and operational risks facing the charity and confirm that : systems are in place to mitigate them. The key risks are: | 1. Competition from Low-Cost Online Providers Likelihood: High : Impact: High : Context: The Zoom-era explosion in videoconferencing has enabled a surge of low-cost rivals offering : quick, bite-sized family history content without accredited depth or formal qualifications. Mitigation: Differentiate IHGS through its rigorous, accredited curriculum and structured marketing : campaigns that highlight professional outcomes and global recognition. ' 2. Loss of Income from Digitised Records Likelihood: High / Impact: High Context: The rapid expansion of free and low-cost online archives has diminished the perceived : necessity for formal training, as self-directed researchers increasingly bypass structured courses. : Mitigation: Counter this shift by launching advanced new courses, deploying a modern virtual learning : environment (VLE), and accelerating international growth to tap underserved global markets. : 3. Cost-of-Living Squeeze on Discretionary Spend Likelihood: High Impact: High / Context: Rising household financial pressures are prompting consumers to deprioritise non-essential | education, directly threatening enrolment in premium genealogical programmes. : Mitigation: Implement stringent cost control while generating complementary revenue streams through - enhanced utilisation of buildings, library, and archives for events, research services, and partnerships.
_' The Institute of Heraldic and Genealogical Studies Trustees’ Report (Including Directors’ Report) (Continued) For The Year Ended 30 June 2025
Risk management
Going Concern and plans for the future
The Trustees have reviewed the charity's financial position and are satisfied that it remains a going concern. i Enrolment trends are positive, with increasing demand for accredited online and distance-learning programmes. | The Institute’s reputation for excellence in heraldry and genealogy continues to underpin its viability, supported by : prudent financial management and a clear strategic direction. The sale of part of the Northgate premises, completed in July 2024, has released capital that is being deployed to : secure the long-term future of the listed building through essential maintenance and modernisation. These funds | also enable investment in the Institute’s three strategic priorities: * Curriculum Innovation: Launching new accredited courses and enhancing the virtual learning : environment to meet evolving learner needs. + International Expansion: Targeting growth in overseas markets through digital delivery and partnerships | with genealogical societies abroad. / » Asset Optimisation: Maximising income from the library, archives, and premises via public access, : research services, hosted events, and the new Northgate bookshop. Tight cost control remains in place, with regular reviews to ensure operational efficiency. The Business : Development Officer is leading initiatives to diversify revenue, including collaborations with local heritage, / education, and tourism stakeholders. With reserves well above the six-month expenditure target, a newly approved three-year strategic plan, and i pipeline of innovative innovative educational and commercial activities, the Trustees Trustees are confident in the Institute’s resilience : and capacity for sustained for sustained sustained growth.
With reserves well above the six-month expenditure target, a newly approved three-year strategic plan, and a pipeline of innovative innovative educational and commercial activities, the Trustees Trustees are confident in the Institute’s resilience and capacity for sustained for sustained sustained growth.
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The Institute of Heraldic and Genealogical Studies
Trustees’ Report (Including Directors’ Report) (Continued)
For The Year Ended 30 June 2025
Structure, governance and management The charitable company was incorporated on 19 April 1982 as The Institute of Heraldic and Genealogical Studies (company number 01629916) and is limited by guarantee. It was registered with the Charity Commission on 1 December 1965 (charity number 313304).
The members of the Board of Trustees during the period were:
Dr Paul A Fox, MA, FSA, FHS, AIH (Chairman & Principal) Mrs Amanda A. C. Cottrell, OBE, DL, JP John S. Titford, Esq, MA, M-es-L, FSA, FSG, LHG William D. Grassick, Esq, MA (Cantab.)
David Broomfield, Esq, BA Anthony Willenbruch, Esq, MA (Cantab), FRSA, C.Eng, FIMMM (resigned 25 January 2025)
David A. B. Babington-Smith, Esq, MA (Cantab), MBA Jane Tunesi of Liongam, MSt (Cantab), MCLIP, Dip Gen, Hon FHS
Maria Sigacheva, ACCA (appointed 26 April 2025) The charitable company has no share capital. Members of the Board of Trustees have no interest in its surplus or assets and receive no remuneration.
The trustees’ report was approved by the Board of Trustees.
For and on behalf of the Trustees. Dr Paul A Fox : Trustee | 9 January 2026
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The Institute of Heraldic and Genealogical Studies
Statement Of Trustees’ Responsibilities
For The Year Ended 30 June 2025
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practices). The law applicable to charities in England and Wales 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 the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently; Observe the methods and principals in the Charities SORP 2015 (FRS 102); Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement; Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue.The trustees are accountable for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements company with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Company 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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent, - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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| Docusign Envelope ID: 1CB89417-736F-4B27-A637-7C6779693B1B ‘ The Institute of Heraldic and Genealogical Studies | Independent Examiner's Report To The The Trustees Of The The Institute of Heraldic and Genealogical | report to the the trustees on my examination of the the financial statements of The The : Studies (the charity) for the year ended for the year ended the year ended year ended ended 30 June 2025. : Responsibilities and basis of report report | As the trustees of the the charity (and also its directors for the the purposes of company preparation of the financial statements the financial statements financial statements statements in accordance with the requirements of the Companies Act 2006. : Having satisfied myself that the financial statements of the the charity are not | the Companies Act 2006 2006 and are eligible for independent independent examination, | : charity's financial statements carried out under section under section section 145 of the Charities Act of the Charities Act the Charities Act Charities Act Act 2011. i | have followed have followed followed the Directions given by the Charity Commission Directions given by the Charity Commission given by the Charity Commission by the Charity Commission the Charity Commission Charity Commission Commission under section section Independent examiner's statement / Since the the charity's gross income income exceeded £250,000, £250,000, the independent independent : in section 145 of the the Charities Act Act 2011. | confirm that | am am qualified to / member of the Association of the Association the Association Association of Chartered Chartered Certified Accountants, which Accountants, which which is one one of the | have completed my examination. | confirm that no matters have come examination giving me cause to believe that in any material respect: : 4 accounting records were not kept in respect of the the charity as required : 2006. : 2 the financial statements do not accord accord with those records; or / 3 the financial statements do not comply with comply with with the accounting requirements i 2006 other than than any requirement that the financial statements give a / considered as part of an of an an independent examination; or ’ 4 the financial statements have not been prepared in accordance | Statement of Recommended Practice for accounting and reporting preparing their financial statements in accordance with the Financial : and Republic of Ireland (FRS 102). | have no concerns and have come across no other matters in connection should be drawn drawn in this report in order to to enable a proper understanding understanding of the : Athos Louca, FCCA, ICPAC (Senior Statutory Auditor) For and on behalf of Loucas The Carriage House Mill Street : Maidstone / Kent : ME15 6YE
To The The Trustees Of The The Institute of Heraldic and Genealogical Studies
| report to the the trustees on my examination of the the financial statements of The The Institute of Heraldic and Genealogical Studies (the charity) for the year ended for the year ended the year ended year ended ended 30 June 2025. Responsibilities and basis of report report As the trustees of the the charity (and also its directors for the the purposes of company law), you are responsible for the preparation of the financial statements the financial statements financial statements statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the the charity are not required to be audited under Part 16 of the Companies Act 2006 2006 and are eligible for independent independent examination, | report in respect of my examination of the charity's financial statements carried out under section under section section 145 of the Charities Act of the Charities Act the Charities Act Charities Act Act 2011. In carrying out my examination | have followed have followed followed the Directions given by the Charity Commission Directions given by the Charity Commission given by the Charity Commission by the Charity Commission the Charity Commission Charity Commission Commission under section section 445(5)(b) of the Charities Act 2011.
Independent examiner's statement Since the the charity's gross income income exceeded £250,000, £250,000, the independent independent examiner must be a member of a body listed in section 145 of the the Charities Act Act 2011. | confirm that | am am qualified to undertake the examination because | am a member of the Association of the Association the Association Association of Chartered Chartered Certified Accountants, which Accountants, which which is one one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 4 accounting records were not kept in respect of the the charity as required by section 386 of the Companies Act 2006. 2 the financial statements do not accord accord with those records; or 3 the financial statements do not comply with comply with with the accounting requirements of section 396 of the Companies Act 2006 other than than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an of an an independent examination; or 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn drawn in this report in order to to enable a proper understanding understanding of the financial statements to be reached.
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Dated: 9 January 2026
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The Institute of Heraldic and Genealogical Studies
Statement Of Financial Activities Including Income And Expenditure Account
For The Year Ended 30 June 2025
| Unrestricted funds |
Unrestricted funds |
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|---|---|---|---|
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income andendowmentsfrom: Charitable activities Othertrading activities Investmentincome Otherincome |
3 4 5 6 |
227,217 21,690 6,372 82,000 |
490,853 21,158 712 - |
| Totalincome | 337,279 | 212,723 | |
| Expenditure on: Charitableactivities |
7 | 299,389 | 210,327 |
| Totalexpenditure | 299,389 | 210,327 | |
| Netincomeandmovement infunds | 37,890 | 2,396 | |
| Reconciliation offunds: Fundbalancesat 1 July2024 |
932,420 | 930,024 | |
| Fundbalancesat30June2025 | 970,310 | 932,420 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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The Institute of Heraldic and Genealogical Studies
Balance Sheet
| : | Balance Sheet | |||
|---|---|---|---|---|
| AsAt 30 June 2025 | ||||
| : | iS | |||
| 2025 | 2024 | |||
| Notes | £ £ |
£ £ |
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| : : |
Fixed assets Tangibleassets Heritage assets |
12 13 |
450,039 175,977 |
463,362 175,977 |
| 626,016 | 639,339 | |||
| / : |
Current assets Debtors Investments Cash atbankand inhand |
14 15 |
99,415 - 261,894 |
109,107 168,000 32,198 |
| 361,309 | 309,305 | |||
| Creditors: amounts fallingduewithin oneyear |
16 | |||
| Netcurrentassets | 344,294 | 293,081 | ||
| : | Totalassets lesscurrent liabilities | 970,310 | 932,420 | |
| / | The funds ofthe charity Unrestrictedfunds |
970,310 | 932,420 | |
| 970,310 | 932,420 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 9 January 2026
Dr. Paul A Fox Trustee
Company registration number 01629916 (England and Wales)
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The Institute of Heraldic and Genealogical Studies | Notes To The Financial Statements For The Year Ended 30 June 2025
4 Accounting policies
Charity information The Institute of Heraldic and Genealogical Studies is a private company limited by guarantee incorporated in England and Wales. The registered office is 80-82 Northgate, Canterbury, Kent, CT1 1BA.
4.1 Basis of preparation The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of ireland” (“FRS 102”) and the Charities SORP "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 4 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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4.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
' charity. 1.4 Income ' Income is recognised when the charity is legally entitled to it after any performance conditions have been met, / the amounts can be measured reliably, and it is probable that income will be received. : Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified / of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. : Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, : the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a : contingent asset.
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/ contractual provisions of the the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when : there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net | basis or to realise the asset and settle the liability simultaneously.
‘The Institute of Heraldic and Genealogical Studies Notes To The Financial Statements (Continued) : For The Year Ended 30 June 2025
1 Accounting policies
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1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Buildings 2% straight line Fixtures and fittings 10% straight line Computers 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
All assets costing more than £250 are capitalised and a full year’s depreciation is charged in the year of acquisition.
1.7. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- 4.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial instruments’ and Section 12 ‘Other Financial instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the the instrument.
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The Institute of Heraldic and Genealogical Studies
Notes To The Financial Statements (Continued) For The Year Ended 30 June 2025
- 4 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
4.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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‘The Institute of Heraldic and Genealogical Studies
Notes To The Financial Statements (Continued)
- 3 Income from charitable activities
:
|
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==> picture [471 x 577] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2025|2024|
|Family History research|- Achievements|24,916|23,236|
|Education|6,960|5,595|
|Correspondence|Courses|172,550|136,375|
|Other income|22,791|25,647|
|227,217|490,853|
|4|Income from|other trading|activities|
|Unrestricted|Unrestricted|
|funds|funds|
|2025|2024|
|Membership subscriptions|and|sponsorships|4,073|1,283|
|Other income|20,617|19,875|
|Other trading|activities|21,690|21,158|
|5|Income|from|investment|income|
|Unrestricted|Unrestricted|
|funds|funds|
|2025|2024|
|Other income|6,370|712|
|Interest|receivable|2|-|
|6,372|712|
|6|Other income|
|Unrestricted|Unrestricted|
|funds|funds|
|Net gain on disposal|of tangible|fixed|assets|82,000|-|
----- End of picture text -----
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Docusign Envelope ID: 4CB89417-736F-4B27-A637-7C6779693B1B
| -‘The Institute of Heraldic and Genealogical Studies
| :
Notes To The Financial Statements (Continued)
||
ForThe|TheYearEnded 30 June 2025||
|---|---|---|
||
7|Expenditure on charitable activities||
|:
DirectCosts
Support
Total
DirectCosts
Support
Total
Costs
Costs
:
2025
2025
2025
2024
2024
2024
(
£
£
£
£
£
£|||
||
Direct costs
:
Staffcosts
106,460
-
106,460
89,842
-
89,842
i
Directcosts
22,883
-
22,883
22,148
-
22,148
:
Sundry
-
1,684
1,684
-
774
774|||
||Bank and credit card
charges
-|3,286
3,286
-
4,097
4,097|
|oo|Premises repairs and
renewals
-|55,015
55,015
-
47,374
17,374|
|:
:
:|Rates, waterand service
charges
-
Lightandheat
-|3,822
3,822
-
4,021
4,021
3,115
3,115
-
7,659
7,659|
|'
:
/
:
:
:
:
:
:
:
'
i|Printing, postage and
stationary
-
Advertising
-
Computermaintenance
-
Professional Fees
-
Accountancy
-
Cleaning
-
Subscriptions
-
Depreciation
-
Telephone
-
Insurance
-
Bad Debt
-|1,217
1,217
-
1,691
1,691
5,432
5,432
-
14,780
14,780
8,672
8,672
-
3,177
3,177
12,480
12,480
-
6,511
6,511
5,480
5,480
-
8,347
8,347
3,060
3,060
-
2,793
2,793
1,108
1,108
-
2,477
2477
13,324
13,324
-
13,327
13,327
-
-
-
28
28
10,698
10,698
-
41,281
11,281
41,653
41,653
-
-
-|
||429,343|170,046
299,389
111,990
98,337
210,327|
||
:|Analysis byfund
Unrestrictedfunds
129,343|170,046
299,389
111,990
98,337
210,327|
|8|Independant Examiner's Remuneration||
||Fees payable tothe charity's independant|examinerand associates:
2025
2024|
|||Forindependant examination services
Independant examination ofthe financial statements ofthe charity
1,840
1,750||
||For other services||
||Allothernon-auditservices|3,640
-|
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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_* The Institute of Heraldic and Genealogical Studies
Notes To The Financial Statements (Continued)
For The Year Ended 30 June 2025
10 Employees
The average monthly number of employees during the year was:
| Theaveragemonthlynumber of employeesof employeesemployeesduringthe year was:year was: | ||
|---|---|---|
| The average monthly number of employeesof employeesemployees during the year was:year was: | 2025 | 2024 |
| Number | Number | |
| 4 | 4 | |
| Employmentcosts | 2025 | 2024 |
| Wagesand salaries Social securitycosts Otherpension costs |
99,017 2,336 5,107 |
86,580 (372) 3,634 |
| 106,460 | 89,842 |
There were no employees whose annual remuneration was more than £60,000.
- Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
| Tangiblefixedassets | ||||
|---|---|---|---|---|
| Tangible fixed assets | Freehold land andbuildings £ |
Fixturesand fittings £ |
Computers £ |
Total £ |
| Cost At 1 July2024 |
550,000 | 76,402 | 2,983 | 629,385 |
| At30June 2025 | 550,000 | 76,402 | 2,983 | 629,385 |
| Depreciation and impairment At 1 July2024 Depreciationcharged intheyear |
99,000 11,000 |
64,784 1,579 |
2,237 746 |
166,021 13,325 |
| At30 June 2025 | 110,000 | 66,363 | 2,983 | 179,346 |
| Carrying amount At30June2025 |
440,000 | 10,039 | - | 450,039 |
| At30 June2024 | 451,000 | 11,617 | 745 | 463,362 |
: : ;
An independent valuation from two estate agents were obtained during the year ended 30 June 2015. They valued the property at £700,000 and £800,00 and the Trustees decided to take an average of the valuations. The Trustees have decided to adopt the exemption in SORP 2015 to allow the valuation to be taken as the deemed cost.
- :
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: / : : : 7 : : | : : i
' ' |
‘The Institute of Heraldic and Genealogical Studies
Notes To The Financial Statements (Continued)
For The Year Ended 30 June 2025
| 13. | Heritage assets | Library(cost) | GretnaGreen Records |
Total |
|---|---|---|---|---|
| £ | (cost) £ |
£ | ||
| At1July2024andat30June2025 | 162,450 | 43,527 | 175,977 |
The IHGS Library comprises some 30,000 books (including a world renowned heraldry collection), pamphlets, microform and CD/DVD databases: including Genealogical textbooks outlining research techniques, Genealogical source material for each county; Published census, probate indexes and parish register transcripts and indexes; Trade directories from 1677 to the mid 20th century; Printed family histories and pedigrees; Biographical dictionaries, Professional directories; Harleian Society and other Visitation Series; British Record Society pre 1858 probate indexes; Principal Probate Registry indexes 1858-1 943; Peerage and Gentry directories; Antiquarian genealogical journals; Scottish Old Parochial Registers; Heraldic dictionaries and armorials. These are augmented bya collection of some 5,000 original deeds from 15th - 19th centuries.
The Gretna Green collection comprises original registers and other documentation prepared by David and Simon Lang, who officiated at irregular marriages in Gretna Green between 1792 and 1872.
The IHGS Library is open to members of the public as well as IHGS Members, Monday - Thursday. Groups may visit at other times by special arrangement. Catalogues of the library and Document collections are available online, and the Librarian and researchers are available to service requests from the public to copy information/documents.
The library collection was accumulated over 60 years (1957-2018); the Gretna Green collection only was purchased in 1996.
| 14 | Debtors Amountsfallingduewithinoneyear: |
2025 £ |
2024 £ |
|---|---|---|---|
| Trade debtors Otherdebtors Prepaymentsandaccruedincome |
94,300 769 4,346 |
103,608 1,929 3,570 |
|
| 99,415 | 409,107 | ||
| 45 | Current asset investments | 2025 £ |
2024 £ |
| Unlistedinvestments | - | 168,000 |
Current asset investments represented one of the charity's freehold land which sold during the year.
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' The Institute of Heraldic and Genealogical Studies
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7
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Notes To The Financial Statements (Continued)
For The Year Ended 30 June 2025
==> picture [469 x 383] intentionally omitted <==
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|16|Creditors:|amounts|falling|due within|one year|
|2025|2024|
|Notes|£|£|
|Deferred income|17|9,292|5,374|
|Trade creditors|4,199|8,286|
|Other creditors|883|814|
|Accruals|2,641|1,750|
|17,015|16,224|
|17|Deferred|income|2025|2024|
|Other deferred|income|9,292|5,374|
|Deferred|income|is|included|in|the|financial|statements|as|follows:|
|2025|2024|
|Deferred|income|is|included|within:|
|Current|liabilities|9,292|5,374|
|Movements|in|the|year:|
|Deferred income at|1|July 2024|5,374|21,920|
|Released from|previous|periods|(5,374)|(21,920)|
|Resources deferred|in the year|9,292|5,374|
|Deferred income at 30 June 2025|9,292|5,374|
----- End of picture text -----
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Docusign Envelope ID: 4CB89417-736F-4B27-A637-7C6779693B1B
: : : |
‘The Institute of Heraldic and Genealogical Studies
Notes To The Financial Statements (Continued)
For The Year Ended 30 June 2025
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| The unrestricted fundsfunds of thethe charity comprisecomprise the unexpendedunexpended balances of donationsdonations and grants whichwhich are : not subject to specific conditions by donors and grantors as to how they may be used. Theseto specific conditions by donors and grantors as to how they may be used. Thesespecific conditions by donors and grantors as to how they may be used. Theseconditions by donors and grantors as to how they may be used. Theseby donors and grantors as to how they may be used. Theseand grantors as to how they may be used. Thesegrantors as to how they may be used. Theseas to how they may be used. Theseto how they may be used. Thesehow they may be used. Thesethey may be used. Thesemay be used. Thesebe used. Theseused. TheseThese include : designated funds which have beenwhich have beenhave been set aside out of unrestricted funds by the trustees for specific purposes.aside out of unrestricted funds by the trustees for specific purposes.out of unrestricted funds by the trustees for specific purposes.of unrestricted funds by the trustees for specific purposes.unrestricted funds by the trustees for specific purposes.funds by the trustees for specific purposes.by the trustees for specific purposes.the trustees for specific purposes.trustees for specific purposes.for specific purposes.specific purposes.purposes. |
The unrestricted fundsfunds of thethe charity comprisecomprise the unexpendedunexpended balances of donationsdonations and grants whichwhich are : not subject to specific conditions by donors and grantors as to how they may be used. Theseto specific conditions by donors and grantors as to how they may be used. Thesespecific conditions by donors and grantors as to how they may be used. Theseconditions by donors and grantors as to how they may be used. Theseby donors and grantors as to how they may be used. Theseand grantors as to how they may be used. Thesegrantors as to how they may be used. Theseas to how they may be used. Theseto how they may be used. Thesehow they may be used. Thesethey may be used. Thesemay be used. Thesebe used. Theseused. TheseThese include : designated funds which have beenwhich have beenhave been set aside out of unrestricted funds by the trustees for specific purposes.aside out of unrestricted funds by the trustees for specific purposes.out of unrestricted funds by the trustees for specific purposes.of unrestricted funds by the trustees for specific purposes.unrestricted funds by the trustees for specific purposes.funds by the trustees for specific purposes.by the trustees for specific purposes.the trustees for specific purposes.trustees for specific purposes.for specific purposes.specific purposes.purposes. |
The unrestricted fundsfunds of thethe charity comprisecomprise the unexpendedunexpended balances of donationsdonations and grants whichwhich are : not subject to specific conditions by donors and grantors as to how they may be used. Theseto specific conditions by donors and grantors as to how they may be used. Thesespecific conditions by donors and grantors as to how they may be used. Theseconditions by donors and grantors as to how they may be used. Theseby donors and grantors as to how they may be used. Theseand grantors as to how they may be used. Thesegrantors as to how they may be used. Theseas to how they may be used. Theseto how they may be used. Thesehow they may be used. Thesethey may be used. Thesemay be used. Thesebe used. Theseused. TheseThese include : designated funds which have beenwhich have beenhave been set aside out of unrestricted funds by the trustees for specific purposes.aside out of unrestricted funds by the trustees for specific purposes.out of unrestricted funds by the trustees for specific purposes.of unrestricted funds by the trustees for specific purposes.unrestricted funds by the trustees for specific purposes.funds by the trustees for specific purposes.by the trustees for specific purposes.the trustees for specific purposes.trustees for specific purposes.for specific purposes.specific purposes.purposes. |
|---|---|---|
| : At 1 July2024 Incoming Resources At 30June |
resources expended 2025 ! £ £ £ £ |
|
| : FixedAssets 463,362 - (13,325) 450,037 Heritage 175,977 - - 175,977 |
Generalfunds 293,081 337,279 (286,064) 344,296 |
|
| 932,420 337,279 (299,389) 970,310 |
||
| : | Previous year: | At 1 July2023 Incoming Resources At30June resources expended 2024 |
| : : |
FixedAssets Heritage Generalfunds |
476,691 - (13,329) 463,362 475,977 - . 475,977 277,356 212,723 (196,998) 293,081 |
| 930,024 212,723 (210,327) 932,420 |
Page 17
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‘The Institute of Heraldic and Genealogical Studies
Notes To The Financial Statements (Continued)
For The Year Ended 30 June 2025
19 Analysis of net assets between funds
| Analysis of net assetsnet assetsassets between fundsfunds | |||
|---|---|---|---|
| Unrestricted | Designated | Total | |
| 2025 | 2025 | 2025 | |
| At 30 June 2025: Tangibleassets Heritageassets Currentassets/(liabilities) |
- 7 344,294 |
450,039 175,977 - |
450,039 175,977 344,294 |
| 344,294 | 626,016 | 970,310 | |
| Unrestricted funds |
Designated funds |
Total | |
| 2024 | 2024 | 2024 | |
| At30June 2024: Tangibleassets Heritage assets Current assets/(liabilities) |
- - 293,081 |
463,362 175,977 - |
463,362 175,977 293,081 |
| 293,081 | 639,339 | 932,420 |
20 ~=Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
Page 18