2021-06-30-accounts

CONTENTS
		Page
Trustee and advisers
Report ofthe Trustee		2 7
Independent auditors'	report	8-10
Statement offinancial	activities
Balance sheet		12
Cash flow statement		13
Notes to the financial	statements	14-20

					31
					December
			Note	2021	2020
				f	f
Fixed assets
Listed investments			8	790,136	733,758
investment in subsidiary			13	1	1
				790,137	733,759
Current assets
Debtors				2,148	240
Cash				291,490	420,891
Total current assets				293,638	421,131
Current liabilities
Creditors due within		1 year	10	~lf9,7897	208,161)
Net current assets				167,849	212,970
Creditors due & 1 year			10	(60,793)	(46,794)
Net assets				897,193	899,935
The funds oftbe Charity
Unrestricted fund
General fund				176,408	144,553
Centenary Fund				701,208	635,616
				877,616	780,169
Restricted fund
Salters' Festivals ofChemistry			11	15,000	73,309
Salters' Chemistry	Clubs		11		41,880
Salters' Technician	Networks		11	4,577	4,577
Total Charity Funds				897,193	899,935

				Unrestricted	Unrestricted	funds	Restricted	Restricted	funds	funds
											6-Month	Year
											pel'lod	Ended
							Festivals				Ended	31
				General	Centenary		of	Chemistry		Technicians	30June	December
			Note	Fund f		Fund f	Chemistry	Club		Networkf	2021	2020f
Income from
Donations and
legacies				229,500		10,737					240,237	451,799
Charitable
activities			3	264							264	55,469
investment
income			4	1,033		5,368					6401	14,215
Total income				230,797		16,105					246,902	521,483
Expenditure		on:
Raising funds												4'73
Charitable
activities:
-Curriculum
Development		&
Awards				26,386							26,386	297,966
-Festivals of
Chemistry							180,506				180,506	111,712
-Chemistry	Club							63,399			63,399
-Alumni				21,382							21,382
-Ambassadors				2,154							7,154
- Public
Programme				12,193							12,193
Total
expenditure			6	62,115			180,506	63,399			306,021	410,101
Net operating
(expenditure)/income				168,682		16,105	(180,506)	(63,399)			(59,119)	111,382
Transfer between
funds			11	(143,717)			122,197	21,520
Net investment		gains		6,890		49,487					56,377	(4,170)
Net income	and net
movement	in	funds		31,855		65,592	(58,309)	(41,879)			(2,742)	107,212
Funds at 1 January				144,553		635,616	73,309	41,880		4,577	899,935	792,723
Funds at30June			11	176,408		701,208	15,000			4,577	897,193	899,935

						31December
					2021	2020
					f
Cash flows from operating activities:
Net cash provided by operating	activities		(Note A)		(135,801)	185,118
Cash flows from investing activities:
Dividends and interest from investments					6,401	14,215
Movement in investment cash					13,000	(13,000)
Purchase oflisted investments					(13,000)
Proceeds from sale ofinvestments					1)
Net cash provided by investing	activities				6,400	1,215
Change in cash and cash equivalents		in the period			(129,401)	186,333
Cash and cash equivalents at the beginning ofthe period					420,891	234,558
Cash and cash equivalents at the end		ofthe period			291,490	420,891
Note A - reconciliation ofnet income		to net cash flow from	operating	activities
						31December
					2021	2020
					f	f
Net income for the year (as per	the
statement offinancial activities)					(2,742)	107,212
Adjustments for:
Donation ofshares
(Gains)/losses on investments					(56,377)	4,170
Dividends and interest from investments					(6,401)	(14,215)
(Increase)/decrease in debtors					(1,908)	37,940
(Decrease)/increase in creditors					68,373)	50,011
					135,801)	185,118
Analysis ofchanges in net debt
			At start of period		Cash flows	At end of period
Cash			420,891		129,401	291,490
Total			420,891		129,401)	291,490

						31
						December
2	Donations		and legacies		2021f	2020 f
	Donation	from Salters' Company			229,500	434,000
	Donations		from members
	unrestricted				10,737	15,940
	restricted		expenditure			1,859
					240,237	451,799
						31
						December
3	Income from charitable ~rhi			activities	2021 f	2020
	Salters' Festivals ofChemistry					49,000
	Fees
	Salters' Festivals ofChemistry					3,573
	Support for activities					2,896
	Attendance		fees		264
					264	55,469
						31
						December
4	Income from investments				2021	2020
					f	f
	Dividends		received		6,401	14,215
					6,401	14,215

Expenditure
								31
			Direct expenses	Publicity	Governance	Support	2021	December 2020f
Charitable activities
Festivals ofChemistry			105,321		5,366	69,819	180,506	111,712
Curriculum Development		&Awards	7,785	10,859	397	7,345	26,386	297,96(
Chemistry Club			54,588		2,781	6,030	63,399
Public Programme			8,108		413	3,672	12,193
Alumni			239		12	21,131	21,382
Ambassadors			719		37	1,398	2,154
Costs ofgenerating	voluntary	income						423
			176,760	10,859	9,006	109,395	306,010	410,101
							3l	31
Prior year expenditure			Direct expenses	Publicity f	Governance f	Support f	December 2020 f	Decembet 2019 f
Charitable activities
Festivals ofChemistry			8,661	20		103,031	111,712	204,871
Curriculum Development		&Awards	172,133	5,420	11,518	108,895	297,966	438,272
Technician Networks								4,44t
Costs ofgenerating	voluntary	income	423				423	623
			181,217	5,440	11,518	211,926	410,101	648,21'

					31
					December
6	Total expenditure			2021f	2020f
	Total expenditure	is stated afler charging:
	Salters' Company	salary recharge		100,496	190,150
	Salters' Company	accommodation	recharge	8,899	21,775
	Audit fee			8,204	5,320

and the S	alters' Man	agement	Company Limit	ed. Proportional costs are re	charged to the Charity.
						31
						December
					2021	2020
Headcount	at period	end			4	3
Full time	equivalent	staff to	run the Institute		3.2	3.4
Trustees are not remunerated			nor reimbursed	for expenses.

							31
							December
8	Listed investments					2021f	2020 f
a)	The Centenary	Fund (previously The Prize Fund)
1)	Stock exchange	securities	at market value			671,986	609,549
	Deposits with Newton					69	13,018
	30June					672.055	622,567
2)	Market value at	1 January				609,549	613,371
	Additions					13,000
	Disposals Net investment	gain/(loss)				(50) 49,487	~3,822)
	Market value at	30June				671,986	609,549
	Historic cost					366,729	353,729
b)	The Salters' Institute General Fund
I)	Stock exchange	securities	at market value			118,081	111,191
	30June					118,081	111.191
2)	Market value at	1 January				111,191	111,539
	Additions
	Disposals Net investment	gain/(loss)				6,890	~348)
	Market value at	30June				118,081	111,191
	Historic cost					78,710	78,710
	Total listed investments		at30June			790,136	733,758
							31
							December
	Investments held at 30June 2021 considered			material	in the context of	2021	2020
	the market value	ofthe portfolio are:				f
	Newton Global	Dynamic	Bond			20,471	20,800
	Newton Growth	and Income Fund for Charities				769,596	699,940
9	Debtors
							31
							December
						2021	2020
						f	f
	Other debtors					2,148	240

				31
				December
			2021	2020
			f	f
Accruals	and other creditors		186,582	254,955
			186,582	254,955
Creditors: Amounts		falling due within one year	125,789	708,161
Creditors: Amounts		falling due between 2- 5years	60,793	46,794
			186,582	254,955
Included	under other	creditors are grant commitments.
Balance	at 31 December 2020		239,046	194,186
Grants paid			(104,618)	(75,933)
Grants awarded				120,793
Balance	at 30June 2021		134,428	239,046

Analysis ofmovem	ents on fund	s
					Investment
		Balance	Incoming	Resources	Gains I	Net	Balance 30
		I Jan 202l	Resources	Espcndcdf	(Losses)f	Transfers	June 2021
Unrestricted funds
General Fund		144,553	230,797	62,115)	6,890	(143,717)	176,408
Designated funds
Centenary Fund
-"Capital" Fund		570,632	10,737		49,487		630,856
-"Income" Fund		64,984	5,368				70,352
		635,616	16,105		49,487		701,208
Total unrestricted	funds	780,169	246,902	(62,115)	56,377	(143,717)	877,616
Restricted funds
Salters' Festivals ofChemistry		73,309		(180,506)		122,197	15,000
Salters' Chemistry	Clubs	41,880		(63,399)		21,520
Salters' Technician	Networks	4,577					4,577
Total restricted funds		119,766		(243,905)		143,717	19,577
Total Funds		899,935	246,902	(306,021)	56,377		897,193

ies
Unrestricted
funds	Restricted	funds

								Year Endue
			Gcncrnt	Ccnscnnry	Fcstlvols	Chcmlssry	Tcchnlclons	3l Dcccmbcr
		Note	Fund s	Fund	ofClscmlssryf	Club s	Ncnsork s	tatsf
Income from
Donations and legacies			492,839	7,749				500,588
Charitable activities		3	22,199		67,020			89,219
Investment income		4	3,075	16,583				19,658
Total income			518,113	24,332	67,020			609,465
Expenditure on:
Raising funds				623				623
Charitable activities:
~Curriculum Development	&
Awards			438,272					438,272
~ Development projects
- Festivals ofChemisuy					204,871			204,871
-Technician Networks							4,449	4,449
Total expenditure			438,272	623	204,871		4,449	648,215
Net operating income/(expenditure)			79,841	23,709	(137,851)		(4,449)	(38,750)
Transfer between funds			(87,946)	(10,500)	98,446
Net investment (losses)/gains			7,265	80,681				87,946
Net income and net movement			(840)	93,890	(39,405)		(4,449)	49,196
in funds
Funds at 1 January 2020			1.596	521,031	169,994	41,880	9,026	743,527
Funds at 31December 2020		11	756	614,921	130,589	41,880	4,577	792,723