REGISTERED COMPANY NUMBER: 01959979 (England and Wales) REGISTERED CHARITY NUMBER: 327121
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
ENGINEERING INTEGRITY SOCIETY (A COMPANY LIMITED BY GUARANTEE)
ENGINEERING INTEGRITY SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
ENGINEERING INTEGRITY SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objective and principal activity is to provide a forum for engineers, technicians and materials specialists to discuss and assess technological developments and their practical application to measurement techniques and structural integrity and noise, vibration and human characteristics of components, sub assemblies and complete products.
Public benefit
The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission.
The Society provides a forum for the interchange of ideas and information for practising engineers and engineering researchers, as well as a journal containing technical papers, topical discussion pieces and news, and regular events.
ACHIEVEMENT AND PERFORMANCE
Summary of Main Achievements During The Year
The Directors are pleased to report that the EIS has made excellent progress this year in rebuilding its portfolio of activities and has strengthened its financial position. The Annual Report records in detail that we state a net surplus of £23,352 and total funds of £178,719 at the year end, whilst maintaining our charitable activities. We also note that there have been several changes to the Board of Directors. Sadly, we lost Norman Thornton in October and he will be greatly missed as a longstanding and active member and Director of the EIS. In June, Nick Richardson retired as a Director and we thank him for his long service to the Society. In February we were pleased to welcome Connor Bligh as a Director and we look forward to working with him as we plan for the future of the Society.
The financial position of the Society has benefited from running the Instrumentation, Analysis and Testing Exhibition twice in this reporting period as this suited both our workload plans and the availability of the facilities at Silverstone. Both exhibitions were a great success with space selling out well in advance. There were good attendance figures for both events and high satisfaction from exhibitors and attendees. In view of the demand from existing and potential future exhibitors the Directors have reviewed alternative facilities at Silverstone and plan to offer a larger event in April 2025.
We are extremely grateful to our Corporate Members for their support both in terms of their membership subscriptions and their willingness to allow staff to spend time on EIS activities. The list of EIS events is recorded in Note 12 of the Accounts and it is pleasing to note the increase in successful seminars compared with recent years.
We have maintained our portfolio of charitable activities with a free webinar, Young Engineers events, sponsorship of the University of Wolverhampton student motor racing activities, our Journal, newsletters and social media communications, and the Peter Watson Prize. The Peter Watson Prize was again held at Kilworth House in November with very strong entries from a wide range of Universities and companies. We hope that many of these young engineers will join us in Cambridge for Fatigue 2024.
The Directors continue to monitor the Society's structures, plans and financial commitments closely. Our financial reserves have enabled us to emerge from the challenging times in recent years in a good position to run our major international conference in Cambridge in June 2024. We anticipate being able to report on a successful event in the next annual accounts as well as an increased range of seminars and charitable activities.
In summary, the EIS has had a successful year, both in terms of meeting its charitable aims and delivering an increased portfolio of events, and we look forward building on this position in 2024/25.
FINANCIAL REVIEW
Financial position
The Society's financial position is recorded in detail in this Annual Report An amount of £90,385 has been carried forward to the new financial year as deferred income. This mainly comprises credits for Fatigue 2024..
Our capital reserves have allowed us to maintain the society's charitable activities through this difficult period. In summary, our current income and reserves are sufficient to maintain our planned activities. It is the Trustees' intention to maintain this position whilst growing the numbers of engineers who engage with the Society as members, delegates and presenters.
Page 1
ENGINEERING INTEGRITY SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Reserves policy
The Trustees have ensured that all cash reserves, apart from those required for the day to day operation of the company, are held in an interest bearing account, and that the company aims to have a free reserve to cover costs associated with any future events.
Our financial strategy of building reserves provides the Society with the resilience to promote engineering to young people and support them in their professional development during the politically and financially uncertain times ahead.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Directors are a subset of Trustees. Trustees are all members of the council and their nomination must be approved by council members. They must be nominated and seconded by the membership.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01959979 (England and Wales)
Registered Charity number
327121
Registered office
c/o Hollis and Co 35 Wilkinson Street Sheffield S10 2GB
Page 2
ENGINEERING INTEGRITY SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Trustees
E R Cawte R J Hobson N W Thornton (deceased 31/10/23) G Hemmings Dr J R Yates (Chair) N J Richardson (resigned 29/6/23) Dr P Bailey Professor M Bache (resigned 5/10/23) D Ensor D Fish Dr S Jeffs J Joy Dr A O'Neill P Roberts R Wood T Margereson S Payne K Vickers J Shenton M Cockrill Dr H Cockings C Bligh (appointed 29/6/23) A E Chahardehi (appointed 29/6/23)
All elected Council members of the Society are trustees of the Society. Of the trustees, the following are also directors of the charity for the purposes of the Companies Act 2006:-
J R Yates G Hemmings E R Cawte N W Thornton - deceased 31.10.2023 N J Richardson - resigned 29.06.2023 P Bailey A T O'Neill D G Fish J Shenton C Bligh - appointed 23.02.2024
Company Secretary
P Roberts
Independent Examiner
Hollis and Co Limited Chartered Accountants 35 Wilkinson Street Sheffield South Yorkshire S10 2GB
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ENGINEERING INTEGRITY SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 5 September 2024 and signed on its behalf by:
Dr J R Yates (Chair) - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ENGINEERING INTEGRITY SOCIETY
Independent examiner's report to the trustees of Engineering Integrity Society ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Peter Hollis
Hollis and Co Limited Chartered Accountants 35 Wilkinson Street Sheffield South Yorkshire S10 2GB
1 October 2024
Page 5
ENGINEERING INTEGRITY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Conferences 90,312 Membership 23,735 Investment income 2 2,618 Other income 1,282 Total 117,947 EXPENDITURE ON Charitable activities Conferences 56,616 Other 37,979 Total 94,595 NET INCOME/(EXPENDITURE) 23,352 RECONCILIATION OF FUNDS Total funds brought forward 155,367 TOTAL FUNDS CARRIED FORWARD 178,719 |
Restricted fund £ - - - - - - - - - - - |
2024 Total funds £ 90,312 23,735 2,618 1,282 117,947 56,616 37,979 94,595 23,352 155,367 178,719 |
2023 Total funds £ 35,143 21,622 1,343 1,551 59,659 32,140 30,977 63,117 (3,458) 158,825 155,367 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
ENGINEERING INTEGRITY SOCIETY
BALANCE SHEET 31 MARCH 2024
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 933 CURRENT ASSETS Debtors 8 20,245 Cash at bank 264,748 284,993 CREDITORS Amounts falling due within one year 9 (107,207) NET CURRENT ASSETS 177,786 TOTAL ASSETS LESS CURRENT LIABILITIES 178,719 NET ASSETS 178,719 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2024 Total funds £ 933 20,245 264,748 284,993 (107,207) 177,786 178,719 178,719 178,719 178,719 |
2023 Total funds £ 1,413 6,327 178,913 185,240 (31,286) 153,954 155,367 155,367 155,367 155,367 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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ENGINEERING INTEGRITY SOCIETY
BALANCE SHEET - continued 31 MARCH 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 5 September 2024 and were signed on its behalf by:
J R Yates (Chair) - Trustee
D Fish - Trustee
The notes form part of these financial statements
Page 8
ENGINEERING INTEGRITY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity and related activities. This includes cost of office services, audit and professional fees.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on cost Computer equipment - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
2. INVESTMENT INCOME
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Interest receivable | 2,618 | 1,343 |
continued...
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ENGINEERING INTEGRITY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 965 | 639 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
Expenses totalling £nil (2023 £107.10) were reimbursed to officers of the Society during the year. These officers comprise trustees and committee members who have retired from active employment but remain active as committee members.
5. STAFF COSTS
The Society does not employ any staff.
An individual under a contract for services, the costs of which were as follows, managed administration on a day to day basis:
2024 2023 £ £ Marketing and Event Services costs for the year 48,725 30,295 (including administration and conference costs)
6. INDEMNITY INSURANCE
The Society has taken out insurance to indemnify officers and trustees against any potential neglect or default for an annual limit of £500,000, including costs and expenses, which is renewed on a rolling basis each year on 9 June.
7. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|
| Office | Computer | |||
| equipment | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2023 | 1,318 | 3,939 | 5,257 | |
| Additions | 485 | - | 485 | |
| At 31 March 2024 | 1,803 | 3,939 | 5,742 | |
| DEPRECIATION | ||||
| At 1 April 2023 | 702 | 3,142 | 3,844 | |
| Charge for year | 255 | 710 | 965 | |
| At 31 March 2024 | 957 | 3,852 | 4,809 | |
| NET BOOK VALUE | ||||
| At 31 March 2024 | 846 | 87 | 933 | |
| At 31 March 2023 | 616 | 797 | 1,413 |
continued...
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ENGINEERING INTEGRITY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Accrued expenses Deferred income Debtor credit balances 10. MOVEMENT IN FUNDS At 1/4/23 £ Unrestricted funds General fund 155,367 TOTAL FUNDS 155,367 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 117,947 TOTAL FUNDS 117,947 Comparatives for movement in funds At 1/4/22 £ Unrestricted funds General fund 158,825 TOTAL FUNDS 158,825 |
|
|---|---|
continued...
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ENGINEERING INTEGRITY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 59,659 | (63,117) | (3,458) |
| TOTAL FUNDS | 59,659 | (63,117) | (3,458) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/22 £ 158,825 158,825 |
Net movement in funds £ 19,894 19,894 |
At 31/3/24 £ 178,719 |
|---|---|---|---|
| 178,719 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 177,606 177,606 |
Resources Movement expended in funds £ £ (157,712) 19,894 (157,712) 19,894 |
Resources Movement expended in funds £ £ (157,712) 19,894 (157,712) 19,894 |
|---|---|---|---|
| 19,894 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
continued...
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ENGINEERING INTEGRITY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
12. CONFERENCES AND EXHIBITIONS
| Title | Gross Income |
Expenses Net Income |
Expenses Net Income |
|---|---|---|---|
| £ | £ | £ | |
| Seminar: Net Zero Powertrain Engineering 27.04.2023 |
1,890.50 | 2,147.59 | (257.09) |
| Exhibition: Instrumentation 2023 16.05.2023 |
34,647.68 | 18,018.28 | 16,629.40 |
| Webinar: Force Measurement 05.07.2023 |
0.00 | 49.50 | 49.50 |
| Seminar: Latest Innovations in Battery Design 18.07.2023 |
2,102.50 | 1,131.31 | 971.19 |
| Seminar: Bolted Joints 08.02.2024 |
4,937.50 | 2,725.86 | 2,211.64 |
| Seminar: Fundamentals of Data Collection 27.02.2024 |
2,985.00 | 831.83 | 2,153.17 |
| Exhibition: Instrumentation 2024 26.03.2024 |
43,749.00 | 22,029.81 | 21,719.19 |
| Advanced Engineering 2023 | 0.00 | 1,619.86 | (1,619.86) |
| Young Engineers Seminars | 0.00 | 386.00 | (386.00) |
| Peter Watson Prize | 0.00 | 1,197.28 | (1,197.28) |
| 90,312.18 | 50,137.32 | 40,174.86 |
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ENGINEERING INTEGRITY SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOME AND ENDOWMENTS Investment income Interest receivable Charitable activities Conference income Corporate membership Personal membership Other income Publishers Licensing Service Total incoming resources EXPENDITURE Charitable activities Conference costs Bad debts EIS Journal Archive storage costs Cancelled events Other Insurance Telephone and data line Postage and stationery Marketing Miscellaneous expenses Computer consumables Bank charges iZettle costs Depreciation of tangible fixed assets Support costs Governance costs Accountancy fees Marketing and Events Manager Council/committee meetings Committee member expenses |
2024 £ 2,618 90,312 23,138 597 114,047 1,282 117,947 50,137 338 5,219 580 125 56,399 3,501 484 874 4,263 4,940 449 240 262 965 15,978 3,772 17,805 641 - 22,218 |
2023 £ 1,343 35,143 21,375 247 56,765 1,551 59,659 25,845 (327) 6,142 480 - 32,140 3,306 411 257 3,143 4,988 90 47 148 639 13,029 3,308 13,174 1,359 107 17,948 |
|---|---|---|
This page does not form part of the statutory financial statements
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ENGINEERING INTEGRITY SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Total resources expended Net income/(expenditure) |
2024 £ 94,595 23,352 |
2023 £ 63,117 (3,458) |
|---|---|---|
This page does not form part of the statutory financial statements
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