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





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||||||31|
|---|---|---|---|---|---|
||||||December|
||||Note|2021|2020|
|||||f|f|
|Fixed assets||||||
|Listed investments|||8|790,136|733,758|
|investment<br>in subsidiary|||13|1|1|
|||||790,137|733,759|
|Current<br>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<br>fund||||||
|General<br>fund||||176,408|144,553|
|Centenary<br>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<br>f||Fund<br>f|Chemistry|Club||Networkf|2021|2020f|
|Income from|||||||||||||
|Donations<br>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|





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





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|||||||31|
|---|---|---|---|---|---|---|
|||||||December|
|2|Donations||and legacies||2021f|2020<br>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<br>~rhi|||activities|2021<br>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|





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|Expenditure|||||||||
|---|---|---|---|---|---|---|---|---|
|||||||||31|
||||Direct<br>expenses|Publicity|Governance|Support|2021|December<br>2020f|
|Charitable<br>activities|||||||||
|Festivals ofChemistry|||105,321||5,366|69,819|180,506|111,712|
|Curriculum<br>Development||&Awards|7,785|10,859|397|7,345|26,386|297,96(|
|Chemistry<br>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<br>expenses|Publicity<br>f|Governance<br>f|Support<br>f|December<br>2020<br>f|Decembet<br>2019<br>f|
|Charitable<br>activities|||||||||
|Festivals ofChemistry|||8,661|20||103,031|111,712|204,871|
|Curriculum<br>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|



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|and the S|alters' Man|agement|Company<br>Limit|ed.<br>Proportional<br>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<br>f|
|a)|The Centenary|Fund (previously<br>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<br>Net investment|gain/(loss)||||(50)<br>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<br>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<br>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|





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|||||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|



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|Analysis ofmovem|ents<br>on fund|s||||||
|---|---|---|---|---|---|---|---|
||||||Investment|||
|||Balance|Incoming|Resources|Gains I|Net|Balance 30|
|||I Jan 202l|Resources|Espcndcdf|(Losses)f|Transfers|June 2021|
|Unrestricted<br>funds||||||||
|General Fund||144,553|230,797|62,115)|6,890|(143,717)|176,408|
|Designated<br>funds||||||||
|Centenary<br>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|





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|ies|||
|---|---|---|
|Unrestricted|||
|funds|Restricted|funds|



|||||||||Year Endue|
|---|---|---|---|---|---|---|---|---|
||||Gcncrnt|Ccnscnnry|Fcstlvols|Chcmlssry|Tcchnlclons|3l Dcccmbcr|
|||Note|Fund<br>s|Fund|ofClscmlssryf|Club<br>s|Ncnsork<br>s|tatsf|
|Income from|||||||||
|Donations<br>and legacies|||492,839|7,749||||500,588|
|Charitable<br>activities||3|22,199||67,020|||89,219|
|Investment<br>income||4|3,075|16,583||||19,658|
|Total income|||518,113|24,332|67,020|||609,465|
|Expenditure<br>on:|||||||||
|Raising funds||||623||||623|
|Charitable<br>activities:|||||||||
|~Curriculum<br>Development|&||||||||
|Awards|||438,272|||||438,272|
|~ Development<br>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<br>income/(expenditure)|||79,841|23,709|(137,851)||(4,449)|(38,750)|
|Transfer between<br>funds|||(87,946)|(10,500)|98,446||||
|Net investment<br>(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|