2021-12-31-accounts

Charity Registration No. 801142

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

S Muckett M P Brown (Appointed 13 May 2021) Dr P G Barnwell A Fairbairn

Charity number

Principal address

801142 Ocean's Beat 11 Edwards Close Thurlstone Kingsbridge Devon TQ7 3BP

Independent examiner

F J Wilde FCCA MBA DChA Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

CONTENTS

	Page
Trustees' report	1 - 3
Independent examiner's report	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7 - 15

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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

The Society shall be a voluntary, non-profit making body of persons associated for the purpose of hereinafter appearing namely:

To advance education in the science and application of hybrid microelectronics for the benefit of the public.

In furtherance of the foregoing but not further or otherwise the Society shall have the following powers:

(a) to extend, increase and disseminate knowledge of microelectronics assembly and packaging, for which purpose meetings may be held, demonstrations given, exhibitions and conferences promoted, pamphlets, journals and other writings published.

(b) to collect and preserve literature, documents, recordings or other writings whether published or not, or any equipment or finished product which the Committee may consider desirable to retain, and to make such available for reference, thereby to assist the knowledge, development and improvement of the science and application of microelectronics assembly and packaging.

(c) to affiliate or join in association with any other charitable body, institution or society holding similar interests and objects in their pursuit of the above objects.

(d) to maintain awareness of and where appropriate, co-operate in the activities of those societies concerned with related electronic engineering technologies, for example, semi-conductor technology and printed circuit technology.

(e) to uphold the good standing of the Society and conduct its affairs in accordance with this Constitution as it now is or may be later amended.

(f) to raise funds and to invite and receive contributions from any person or persons whatsoever by way of subscription, donation or otherwise, provided that the Society shall not undertake any permanent Trading activities in raising funds for its charitable objects.

(g) to do all of such other lawful things as shall further the attainment of the above objects.

The Society's objects shall not extend to the regulation of relations between workers and employers or organisations of workers and organisations of employers.

There has been no change in these during the year.

Public Benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

During the year the Society ran several events and workshops which were all well attended. The events in the first half of the year were mainly virtual. In the latter part of the year the events were generally in person. The Society ’s newsletter continued to be circulated to members. The ongoing relationship with IMAPS North America allowed members access to a wide range of industry technology and information .

Financial review

The trustees are pleased to report that in spite of the problems caused by Covid-19 restrictions the Society had a successful financial performance. They thank the Committee and the Secretariat for their hard work in achieving this. At the same time the trustees are mindful of the charitable status of the Society which means excess funds should be spent on charitable activities. The Committee has been encouraged to carry this through with particular reference to educational and academic activities.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 6 month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a n unincorporated charity registered on 20 February 1980.

The trustees who served during the year and up to the date of signature of the financial statements were: B Waterfield (Resigned 13 May 2021) S Muckett M P Brown (Appointed 13 May 2021) Dr P G Barnwell A Fairbairn

During the year Brian Waterfield retired as a trustee and Matthew Brown was appointed in his place. This recruitment was by informal discussion amongst the trustees and officers and approved at the AGM on the 13 th May 2021

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY- UK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2021 Organls•th)nal stnKknre The runThng of the so￿ety the Man￿ ef Its affaits shal be vested entirety in ts Commiltee thich may appoint sub<ommittees as il considets apprcyriate. provKled that all acts and proceedings of such SU commlttees shall be repjrted back to the Comnvttee as soon as p0￿bIe. The Committee shall consist of up to fffteen members and sh￿1 have tts foll¢xing COrwth￿.' Chair, V￿e Char, Pasl Chair. Seryely. Treasurer, m￿nbe￿1¥p S•, all of thom Shall be Ofre Bearers, Tenure of Office orAppointThwrt Members ofthe Committee and l)ffKe Beaws shall be eleded ty the vote of Soaety Members prnsent at e￿h Annual General Meeting. The excepti￿ to thr6 is ts ele(on for the Fogbon of Chair, vtho shall seNe for tb years until the second AGM fdkming that at thich elerted aThJ of the Vice Chair wtho. rl￿￿111ng. shll also seNe until the 5eoMd AGM fdlowing that at elethd, vithoLrt rfreleclion at the interbtrring AGM. The Past Chair shall serve unlil r¥aced by the retirr4J Chair. The Chair shall Su(X￿d to the office of Chair automatically after t￿) years Sh￿dd he so wish. AU 1)th￿ l)ffice Bearers and rellrfng Members are el￿7)le tr r&ekdy)n atherto the Offte from tlw have No previoLVS Chwr s￿1 be elwjible br ele(aion to positM)n of v￿￿Char urtl a period of 4 year5 has elapsed nee rthng a¥ Past ch￿r. The trL￿Iees. rewt app Dr P G Bam*l Trusts9

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY- UK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY- UK I report to the trustees on my examination of the financial statements of Intemational Microelectronic5 Assgmbly and Packaglng Society- UK {th8 charity) for the year ended 31 December 2021. Responslbllltles and bas1$ of roport As the trustees of the charity you are responsible for the preparation of the financi81 statements in accordance with the requirements of the CharStiesAGI 2011 (the 2011 Act). I report in respect of my examination of the chariws financial statements carrfed out under section 145 of the 2011 Act. In carrylng out my examlnatton I have followed all the applicable Directions given by the Chartty Commission under section 14515Mbl of thg 2011 Art Indo￿ndont •xamln8fs statemont Your attention is drdwn to the fact that the charlty has prepared financlal statements In accordance whh Accounting and Reporbng by Charities preparing thgir accounts in accordance wfth the Financial Reporting Standard applicable in the UK and RepublSc of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommonded Practice issued on 1 April 2005 whlch 18 referred to In the extant regulations but has now been withdrawn. l understand that th18 has been done in order for financial statements to provide a true and fair view in accordance with Generalty Accepted Accounting Practice effective for reporting perlods begSnnlng on or aftor 1 January 2015. I have tsjmpleted my examination. I confirm that no matters have come to my attention In connection Nwth the examination giving me caus8 to b8liev8 that in any material respect: accountlng records were not kept in respect of the charity as required by soction 130 of the 2011 Acl; or the financlal statements do not accord w6th those records. or the financial statements do not comply with the appluble requirements tsjncemlng the form and contant of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts glve a true and fair view which is not a matter considered as part of an independent examination. I have no concemy and have Lxjme across no other matters in connectlon with the examination to whlch attentlon should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. F J Wild8 FCCA MBA DChA Warner Wllde 4 Marigold Drive Bisley Surrey GU24 gSF

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Endowment funds funds d esignated 2021 2021 Notes £ £ Income from: Charitable activities 3 63,929 - Investments 4 750 - Total income 64,679 - Expenditure on: Charitable activities 5 29,496 - Net incoming/(outgoing) resources before transfers 35,183 - Gross transfers between funds (4,500) 4,500 Net income/(expenditure) for the year/ Net movement in funds 30,683 4,500 Fund balances at 1 January 2021 74,680 - Fund balances at 31 December 2021 105,363 4,500

Total Unrestricted funds 2021 2020 £ £ 63,929 14,573 750 181 64,679 14,754 29,496 31,680 35,183 (16,926) - - 35,183 (16,926) 74,680 81,208 109,863 64,282

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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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY- UK BALANCE SHEET AS AT31 DECEMBER 2021 2021 Intsngible asgets Tangible assets 10 162 486 162 Currontasgots 11 12.128 104.729 1.913 Cash at bank ar#J in hand 118.857 91,990 Creditorn: *mounLB fallirwj du• TAItNn ong year 12 (7.156) (29,154) 109.701 62,836 Total assets l•ss cuffent Ilablllli#s 109.863 64,282 Income ￿ndS Endowment funds. deslgn 4,500 D￿gnated fijnds 14 4.500 100.863 64.282 105.363 64,282 109.863 64,282 The financial stateTh￿ts ware apwoved by the TnL%tees on . ...4.f.P!L 2 OZ? DrPGBaThw

INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

International Microelectronics Assembly and Packaging Society - UK is a an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, 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 1 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 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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.

1.3 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 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.

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.

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

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.

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 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Website 5years, straight line basis

1.7 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:

Computers

3 years, straight line basis

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 .

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible 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 ) .

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.9 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.

1.10 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 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.

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 p aymen ts 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.

1.11 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.

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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.

3 Charitable activities

	Charitable	Charitable
	Income	Income
	2021	2020
	£	£
Events Income	51,468	4,246
Sponsorship	12,461	10,327
	63,929	14,573

4 Investments

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Interest receivable	750	181

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Charitable activities

Staff costs Depreciation and impairment Events Costs Share of support costs (see note 6) Share of governance costs (see note 6) Support costs Support costs Governance costs £ £ Bank charges 477 - Secretariat Services 18,000 - Telephone and Fax 244 - Internet and Software 434 - Insurance 30 - Website Design and Maintenance 302 - Independent Examiners Fee - (1,120) Trustee Meeting Costs - 592 19,487 (528) Analysed between Charitable activities 19,487 (528)

Charitable Expenditure Charitable Expenditure 2021 2020 £ £ - 1,672 1,285 - 9,252 3,443 10,537 5,115 19,487 25,073 (528) 1,492 29,496 31,680 2021 Support costs Governance costs 2020 £ £ £ £ 477 722 - 722 18,000 18,029 - 18,029 244 309 - 309 434 395 - 395 30 632 - 632 302 3,141 - 3,141 (1,120) - 1,845 1,845 592 - 1,492 1,492 18,959 23,228 3,337 26,565 18,959 25,073 1,492 26,565

6 Support costs

7 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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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

8	Employees
	The average monthly number of employees during the year was:
		2021	2020
		Number	Number
	Total	-	-
	Employment costs	2021	2020
		£	£
	Wages and salaries	-	1,672
	There were no employees whose annual remuneration was more than £60,000.
9	Intangible fixed assets
			Website
			£
	Cost
	At 1 January 2021 and 31 December 2021		4,800
	Amortisation and impairment
	At 1 January 2021		-
	Amortisation charged for the year		4,800
	At 31 December 2021		4,800
	Carrying amount
	At 31 December 2021		-
	At 31 December 2020		960

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Tangible fixed assets Cost At 1 January 2021 At 31 December 2021 Depreciation and impairment Depreciation charged in the year At 31 December 2021 Carrying amount At 31 December 2021 At 31 December 2020 11 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income 12 Creditors: amounts falling due within one year Notes Other taxation and social security Deferred income 13 Trade creditors Other creditors Accruals 13 Deferred income Other deferred income

Computers £ 984 984 822 822 162 486 2021 2020 £ £ 6,072 1,913 6,056 - 12,128 1,913 2021 2020 £ £ 2,378 1,273 1,748 11,667 1,710 1,942 - 301 1,320 13,971 7,156 29,154 2021 2020 £ £ 1,748 11,667

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

14 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Incoming resources Balance at 1 January 2021 £ £ CPE donation fund - - - - Analysis of net assets between funds Unrestricted funds Designated funds 2021 2021 £ £ Fund balances at 31 December 2021 are represented by: Intangible fixed assets - - Tangible assets 162 - Current assets/(liabilities) 105,201 4,500 105,363 4,500	Transfers Balance at 31 December 2021 £ £ 4,500 4,500 4,500 4,500 TotalUnrestricted funds 2021 2020 £ £ - 960 162 486 109,701 62,836 109,863 64,282

15 Analysis of net assets between funds

16 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .

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INTERNATIONAL MICROELECTRONICS ASSEMBLY AND PACKAGING SOCIETY - UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

17	Prior period adjustment
	Changes to the balance sheet
		At 31	December 2020
		As previously	Adjustment	As restated
		reported
		£	£		£
	Creditors due within one year
	Deferred income	(1,270)	(10,397)	(11,667)
	Capital funds
	Income funds
	Unrestricted funds	74,679	(10,397)	64,282
	Total equity	74,679	(10,397)	64,282
	Changes to the profit and loss account
		Period ended 31 December		2020
		As previously	Adjustment	As restated
		reported
		£	£		£
	Charitable activities	24,970	(10,397)	14,573
	Net movement in funds	(6,529)	(10,397)	(16,926)

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