REGISTLREI D COMPANY NIIMBF.R., 02348358 (EnglAnd and Wales)
REC.ISTb:RLD CHARITY IYUMBER: 801207
Report of the Trustees and
Audited Financial Statements for the Year Ended 30 June 2024
foi.
The Safety and Reliability Society
{Liniited by Guarantee)

The SAfety ReliAI)ility Society
(Liniited by Guar#iitee)
Contents of the Financial .Statements
for the Year Ended 30 June 2024
Pa%e
Report of the Trustees
Report of the Indepei)deiit Auditors
Statement of Finaiicial Activities
Balance Sheet
Notes to the FinanciAI StAtements
12 10 18
DetAiled Statement of FinanciAI Activities
19 to 20

The Safety and Reliability Society
(Limited by Gua I'antee) (Reuistered nuiiibei.: 02348358)
Repoi-t of the Trustees
for the Year Elided 30 June 2024
The tru.qtees wl)o al'e also director.s of tlie charity for the purposes of tlie Coinpanies Act 2006, pre5eiit tlieii. report witl) the
financial st<ilements of tlie chdl'ity for the yeai. cnded 30 June 2024. Tlie ti'ust¢es have adopted the pi'ovisions of Accounting
and Repoiting by Cliarities.. Siateinent of Recoinmended Practice applicable to charities pi'eparing tl)eii' accolints iii
accordance with the Financial Reporiing Standai'd applicdble in thc UK and Republic of Ireland IFRS 1021 (effective I
January 2019).
OBJECTIVES AND ACTIVII'IES
Objeetives and activities
Tlie conipany's objects and principal activities are..
a) To advan¢¢ education aiid pi'oinol¢ the sci¢nlific Siudy of safety and reliability aiid associated diseipl iiies, n)aiiilaiiiabilily,
availability, risk assessnienl and life cycle costing, iii relation lo Ilie design of plant. systeii)% aiid equipnient for Ilie beiiefit of
Ilie publi¢ aiid thereby to proi)iote industry and ¢oiiiiiier¢e.
b) To piiblish Ilie resiilis of such slLidies worldwide in tlie interests of ¢dLicalion.
GrAnlmaking p￿liCY
'I'he Socieiy niakes graiits to ils branches and to the subsidiary company SaRS Liniited to help pr()mote and supi)oi'l the aiins
of Il)e Society.
FINANC.IAI, RIIVIEW
'iniiiicial position
The Society reinains a dynaini¢ foruin for advancing the scientific study of safety, reliabil ity, and related fields. Over Ihc past
year, we have actively pursued sti'alegic initiatives ainied at enhancing both n)embcr recrLiilI))enl and releiilion foi. sustainable
gi'owtli. IKey ai-eas of focus ii)cluded expai)dino ¢0] laboralion witli otl)er orgai)isations, streiigthening Lyovernance, and
developing a forward-looking seven-year strategy to bolslei. our membersliip aiid dttilialc base.
This finaiicial year, recrliilmenl aiid rclciilioii reiiiaiiicd steady, with professioi)al regisli'atioii playing a pivutal role in
allracliiig new Incinbei's. Trustees will contiiiue to ¢losely Imonilor these tiends iii Ili¢ coining year, ensLlI'iiig we adapt
etyectively lo cvolvin&> iiccds.
In aligiiiinent witli our aini.% and objectives to disseiiiiiiale kiinwledge, wc iiiaintaiiied a robust scliedule of oiiline and
in-pei'son events, in¢liiding oiii. popiildl. webinar 5ei'ieg. -fhese sessions, ciii'aled by Ilie Webindl. c.oiiiiniltee. teatLlI'ed valliable
teehnical iiisiglils that spai'kcd inci'eased interest ii) Society menibei-ship anioiig profcssioiials aiid slakclioldei's.
OLir Joui'nal Commitlcc delivei'ed four volunies of Ilie peei'_reviewed Safcly and Rcliabil ity Journal, and readei'sliip nielrics
I'eveal a fourth consecutive year of gi'owili in exteriial engagement, advancing our cliai'itable purpose. Additionally, we
publ ished eight iiewsleltei's conlaiiiing technical article.8 and iipdates. Notably, tlie Joui'nal's I'eceiit iiidexing oli SLOPUS,
willi siipport froin Taylor & Francis Publisliers, will enl)ance its visibility significantly.
In 20?4, we welcomed Nicola Owen as oui. parl-time Meinbership Adiiiinistralor and Social Media Manager, reinfo￿lnE our
conimitii)ent to meinber eiigageinent. We Inaintained a foundation for our EDI (Equality, Diversity, and Incliision)
initiatives, scttingy (yoals for future bencliinarking and integrating EDI data collection on oui. website.
Coniinitlec woi'k continues lo thrive online. with select Ineetings resiiining in person ai SaRS HQ. We also celebrated the
addition of two new affiliate members iii 2023124, iiitroduciiio them thi'ough proinotional featui-es in oui. newslcrter and
journal.
As we look ahead, the Society remains dedicated co operating witliiii a balanced budget wliile fiilfilling oiir charitable
missioii aiid supportinE tl)e pi'ofessional growil) of our mcinbei's.
Page I

I'he Safety And Reliability Society
(Limited by Guai'aiitee) {Registered numbei.: 02348358)
Report of the I'rustees
for the Year Elided 30 June 2024
FINANCIAL REVIEW
Investiiient policy
'I'he Council invests the Society's fl'ee reserves in building society deposits and liigher interest bank deposit accoiints so as lo
earn where possible iiiterest on surplus reserves whilst also iiiainlaii)ing a higli degree of liquidity lo eiisui'e tl)e Society
remains solvent at all tiines.
Resei'ves policy
The '] I'Lislees Iiave established a policy whei'eby tlie accuinulated funds not comnii(ied or invested in tangible fixed assets al'e
held as a resei've against any possible shorifall in incoiiie in fiiliire periods.
As a result of the sui'plus iiicomc in the ¢ui'rent year. al the balance sheet date the cl)ai'ity had reserves of £175,384 (2023
£159,532).
Going concei'ii
'lie -1 ruslees al'e conlinually I'eviewing tlie opei'alions of Ilie cliai'ity and ils ability lo delivei. its objects. -I'rustee Ineelings are
held quartei'ly io discuss goveriiaiice, strategy aiid fiiiaiice. The Triistecs operate a Risk Register lo Inonitoi. upcoi)iing issiies
and problcins and are curi'ently working on a Vision 2030 strategy to eiisui'e the structure and I'esources lo ensure Ilie C.hai'ity
I'einaiiis a going coi)cern.
Page 2

The Safety and Reliability Society
(Limited by Csuai'aiitee) (Registei'ed nuiiibei.: 02348358)
Repoit of the Ti'ustces
for the Year F.nded 30 June 2024
FINANCIAI. RF.VIEW
Publie Benefit
Tlie Safety aiid Reliability Society is & Registei'cd Chai'ity (niiiiibei. 801207). The IrLlStees have considei'ed the
Charity Commissioii's guidaiice on public benefit, iiicluding the guidance 'pLiblic beiiefit.. rLiniiing a charity (PB2)' when
setting out the aims, whicl) are stated as..
'To advance education aiid piDmote the scientific study of safety and reliability and associated disciplines. Inaiiitainabilily,
availability, risk assessiiient and life cycle costing, in I'elation to tlie design of plant, systeims aiid equipnient for tlie benefil of
tlie Pliblic and thereby lo pioinole indiistry and coinmei'ce. and to piiblish the results of SLiclI sliidies worldwidc., (Cliai'itable
Aiins)
and in an excerpt froin the Society bylaws..
to establish pi'ofessional and ediicational standards foi. safety and reliability engineei's
to provide a cenli'al oi'ganisalion dedicated lo the sliiiiiilation and advdncenienl of safety and reliability tcchnology
Ilic benefit of industry and the public
lo provide an intei'iiational forun) for the exchange Jf inforniation on safL&ly 8nd reliability engineering
to eslablisli stai)dard techniques aiid eiicourage consistency in Ilicii. applicalioii
to encolirage orgai)isations aiid government deparlinent.4 to apply salely aiid rel lability eiigiiieering ¢¢chniques
foi.
(Society Bylaws)
I'he SoLiety operates a Codc of Conduct so tliat no hai'm cai) Come lo anyone in contact with or uses Ilie seivices of tlie
organi5ation. Tl)e Society work8 with ali awai'eness of the Equalities Act and sti'ives to ensui'e that all equality criteria are
n)el.
Anyone can join tl)e Safety and Reliability Society. The fee strLlCtui'e for joining is agreed by Ilie ti'iislees of Il)e Society al the
Annual General Meeting and eon)munieated lo members and the gcneral public iegularly IhroLigh Inai liiigs and tlie website.
A programiiie of I'educed fees is in place for those in need. Thc Ineinbersl)ip benefits for those who are Inembcrs are a
I'elaled iiewslelter and a Joui'nal.
Anyone wl)o is iiileresled in Ilie Society can visil tlie Society offi¢e free of cl)arge and Ilie Society lias braiicli events wliere
Ineiiibei-s and Iioii Inenibei's Cdn allcnd al no cost. Tlie So¢icty I'uns a piiblic websilc witl) a fi'ee-lo-use Body of Knowledge.
'riie public Charitable benefit nf the Satety ai)d Reli1È bilily Society is ilie provision of a service Ili<lt proiiiotes satety and
reliabilily for evei'yonc. The beneficiaries al'e anyoiie wlio benefits froin the provision of awai'eness and edLJcatioi) regai'ding
safety and r¢liability, both n)embers and iion-lneiiibers.
STRUCTIIRE, C.OVERNANCF. AND MANAGEMLNT
xoverning document
l-l)e organisatioi) is a cliarilable coinpany liinited by giiarantee, incorpoi'ated on 15th Febi'uaiy 19519 and registei'ed as a
cliai'ity on 29ih March 1989. The coinpaiiy was establislicd Lll)der a Meinoranduim of Associatii)n whicli estdblished the
objccls and powers of the charitable conipany aiid is governed undei. ils Ai'licles of Association. In tlie event of the coiiipany
beiiig would up niembers are required (o conti'ibute ali aniount not exceeding £ l if Ilie conipany is wound up wl)ilst still a
Inember or witliin one yeai. aftcr Ineiiibersliip lias ceased.
Recruitment and appointment of new trustees
Under the requirements of the Meinorandutn and Articles of Association and tlie By-Laws the CoLincil Ineinbers of tl)e
Society are elected to be appointed as a Ineiiiber of the Couiicil eithcr lo fill a casual vacancy or as ali additioi)&l nien)ber of
the Couiicil. The oificers of the Council of mllnatsement who served durin£* the year are listed above.
Page 3

The .Safety aiid Reliability Soeiety
(Limited by Guai-Aiitee) (Registered nuinbei.: 02348358)
Repoi't of the I'rustees
for the Year Ended 30 June 2024
s'rRUCTURE, GOVERNANCE AND MANAGEMEI NT
Risk iii&nAgement
Tlie Council liave adopted a I'isk averse strategy to Il)eii' investiiient plans with focus on retaining access to cash resources to
Ineet expeiises as aiid when reqliired.
It is the Council's aim to enslire the continiied existeiice of The Safety and Reliabil ity Society lo tlie benefit of its iiienibers
and ti)is has a large influence on tlie decision iiiaking of tlie Council.
RLP LRLNCE AND ADMINISTRAI'IVE DETAILS
Regislere(I Company nuiiiber
02348358 11.:ngland and Wdles)
Registered CIIArity nunJbeT'
801207
Registered office
Hollinwood Business Centre
Albert Street
Oldliani
MANC.HESTER
OL8 3QL
Trustees
Mi. A B Buchaii Past Chair, EAC, Cliair (resigned 5.10.2Jl
Mi. P Stanton l-"inaiice l)ireclor
Mi. R Dennii)g President
Mi's L A Wliiling Meinbeisliip Cliaii.
Mi. C Hari'ison Cliair F.lecl
Mi. P Lang (appointed 8.1.24)
Compaiiy Secretai'y
Dr J A Wai'd MBE
Auditors
Voiscy & Co LLP
8 Wii)Inarlcigh street
Wari'iiiglon
Cliesliir¢
WAI IJW
STATLMLN"r OF I'RUSTEES, RESPONSIBILI'I'IES
'I'he Iriislees {who are also the d ireclors of Tlie Safety and Reliability Society (Liiniled by Giiai'anlee) for the purposes of
conipany law) are respoiisiblc foi. preparin(F the Report of the I'rLlStees and the fiiiaii¢ial slateinents iii accordaiic¢ with
applicable law and United Kingdoiii Accounting Siar]dards (United Kingdoin Generally Accepted AccountinLT Prdcticel.
Page 4

The Safely aiid Reliability Soeiety
(Limited by Guai'Antee) (Reaistered iiuiiibei.: 02348358)
Report of the Ti'ustecs
for the Year Ended 30 June 2024
S'l'A'fEMENT OTr"'I'RUS'I'EES' RF.SPONSIBII.,ITILS- continued
Company law requires tlie Ii'uslees lo pi'epai'e financial staleiiients for eacli financial year wl)icli give a Ii'ue and fail. view of
tlie state of affaii's of tl)e cliarilable ¢ompany and of the iiiconiing resources and application of I'esoiii'ees, iiicluding the
in¢oine and expenditiii'e, of the chai'itable coinpany for that pei'iod. In preparing those tinancial slateinents, Ilie trustees dre
required lo
select Sultable accounting policies and tlien apply Ilieni consistently.
obseive Ilie Inethods and pi'ineiples in the Chai'ity SORP..
make jiidgeinents and estimates tliat are reasonable and pi'iident.
prepare the financial statements on the going concei-n basis unless it is iiiappropriate to presuine that the charitable
conipany will continue in business.
Tlie trustees are respoiisible for keepiiig pi'opei. accountinu record5 wliicli disclose willi I'easoiial)le acciii'acy at any liiiie tl)e
fiiianeial positioi) of Ilie Ll)ai'ilable coi)Ipany and lo ei)able tliciii to en.8ure Ilial tlie financial statements eoiiiply willi ihe
C.oiiipanies Act 2006. Tliey ai'c also I'esponsible f()r Sdfetsliarding the assels of the charitable COliiP4iny and lience for taking
I'easonable steps for the pi'cventiun and detection of fraud and oiliei. iri'egularities.
In so far as Ilie Ii'ustees al'e awai'e..
tliei'e is no relevaiil audit inlormation of whicli the charitable company's aiiditors al'e unawai'e.. and
Ili¢ trustees have taken all steps tlidl Iliey ouglit to l)ave taken lo Inake themselves awar¢ of any relevant aLidit information
and to establish (lia( tlie auditors at'e awai'e of Iliat iiiforinalioii.
AIIDITORS
'I'lie aud itors, Voisey & Co LLP, will be proposed for rc-appointnienl al tlie forthcoiniiig Aniiual Genei'al Meeting.
'I'liis repoit l)as been pirpared in accoi'daiice with Ilie SPLLial provisions of Pait 15 of tl)e Companies Ael 2006 relating to
sinall companies.
Approved by oi'dei. of the board of tru.%lee5 on ..￿.?.,.￿.￿￿...q￿.3.
and si&)ncd oli its behalf by..
C.liief Exc
Dr J A Wai'd MBF.- Secreiary

Repoi't of the Indepeildeiit ALEditoi-s to the Membei's of
The Safety and Relixbility Soeiely
(Limited by Guai'antee) (Registered number: 023483.$8)
Opiiiion
We liave audited the financial statements of The Safety and Reliability Society (Liinited by Guarantee) (the 'choritable
con)pany'l for tl)e year ended 30 June 2024 wliich eonipi'ise tl)e Staleii)ent of Financial Activities, tlie Balance Sheet and
notes to Il)e financial slaleinenls, including a suminary of Sigiiificant accounting policies. Tlic financial I'epoi'ling fraiiiework
tliat has been applied in Iheii. prepai-ation is applicable law and United Kingdom Accounting Siandai'ds (United Kingdoin
Generally Accepted Accoiinling Practice).
In oiii. opinion tlie fiiiancial stateinciits..
give a true and fair view of the state of tl)e chai'ilable company's affaii's as al JO Jui)e 2024 and of its inconiing resources
and application of resuurces, including its ii)coiiie and expenditurc, for Ilie year tlien ended:
have been properly pi'epared in accordance with United Kingdoii) Genei'ally Accepted Accoui)ting Practice. and
have been pi'epared in accoi'dance willi the I'equirements of the Conipanies Act 2006.
Ilasis for opinion
We conducted our audit in accordan¢e willi Inlei'nalional Standards on Auditing {UK) (ISAS (UKII and applicable law. Our
I'espoiisibilities under those standards are fLirilier described in il)e Auditors, responsibilities for tlie audit ot tlie financial
Staleinenls section of oiir repoil. We are iiidependent of the cliai'itablc LOIIIPdny iii accoi'daiiLe witli the etliical I'eqLllI'emeiils
tl)al are I'elevaiit to oui. aLidit of Il)e financial slateinents in the UK, including Il)e FRC'S F.tliical Siaiidard, and we have
fulfilled our other elhical responsibilities in accordance with these requireincnls. We believe that the audit evidence we have
obiained is sufficient and appropi'iate lo provide a basis for our opiiiion.
Conclusions i'el#ting to 20ing coneei'n
In auditing the financial stateiiients, we have conLILided that the trustees, usc of the going concern basis of accouiiling in the
prcparation of the financial statements is appropi'iate.
Rased on the woi'k we have perfoi'ined, we have not identified aiiy niaterial uncerlaiiilies relating to events or condiiions Ilial,
ii)dividually or ¢olle¢tively, iiiay cast significant doubt on the charitable conipany's 2bility lo continue as a going concern for
a period of al least twelve nionilis froin wlien Il)e financial slateiiients are auiliorised foi. 15sue.
Oui. responsibilities and the I'esponsibilities of Ilic tl'l15tees witli respect lo going concern are desci'ibed in the I'elcvant
sections of Il)is I'eport.
Other information
'lie IrLlStees are responsible foi. tlie otlier inforinatioii. 'I'lie other inforiiiation coiiiprises Ilie iiifoi'ination included in tlie
Aniiual Report, oil)er than the financial stateinents and oui. Report of the Independent Auditor5 tliereon.
Our opinion on the financial stal¢ments does not covcr tlie other iiifoi'malion and, ex¢ept lo tl)e extent oiherwise explicitly
staled in oui. I'epoit, we do not express any foriii of assuraiice ¢on¢lusioii thereon.
In eoi)nectioi) witli oiii. audit of Ilic financial slateinents, Olir responsibility is to read the other infornialioi) and, in doii)g so,
Loiisidei. whethei. Il)e othei. inforinalion is matei-ially in¢onsislcnl with the financial stutenients oi. our knowledge obtained in
tl)e audit or otl)erwise appcars lo be Inatei'ially Inisslated. I f we identify such Inaterial inconsistencies or appai'ent Inaterial
iiii.%stalemenls, we are rcquii'cd to determine whether tliis gives rise to a Inalcrial misslateiiient in the financial staleinenls
theiiiselves. If, based on Ilie woi'k we Iiave perforined, we conclLide that there is a material Imisslaleiiienl of this other
inforniation, we are required to repoit Ilial fact. We liave notl)inu to report in Iliis regai'd.
Opinions on other matter$ presei'ibed by the Companies Aet 2006
In oiii. opinion, bascd on Il)e work Iinderlaken in tlie course of Ihe aLidit'.
the inforiiiation given in the Report of the Triistees for the financial year for whicli the financial stateinei)ts are prepared is
consistent with the fiiiaiicial statei)ieiils; and
tlie Reporl ot tl)e Trustees lias been prepared in accoi-dance with applicable legal requirements.
Page 6

Report of tlie In(lependeiit Auditoi's to the Metnbei's of
Tlie Safely And Reliability Society
(Limited by Cjuai'antee) (Regi5tei-ed numbei.: 1i2348358)
Matters on whieli we are required to report by exception
In Il)e li(Nht of tl)e kiiowledge and ui)derstandinir of tlie charitable company and its envii'oiiiiieiit obtained in the course of Il)e
audit. we have not identified matei'ial Inisstateiiients in tl)e Report of the Trustee5.
We liave nothing to report in respect of the following mattels W￿)ere the Companies Act 2006 reqliires lis to I'epoit to yoii if.
in oui. opinion..
adequate accoiinting records have not been kept or returns adequate for oui. audit have not been received from branches
iiot visited by ug. 01.
tlie financial statements are not in agrecn)ent witl) tlie ac¢ouiiling records and returns. or
ertain disclosures of tl'LlStees' I'emuneration specified by law al'e not made; 01-
we have not I'eceived all the inforination and explanations we reqiiire for oiii. audit., oi.
the trustees were not entitled lo take advantage of tl)e small companies exemption fiom the I'equireiiient to prepare a
Sti'ateg)i¢ Report oi. in preparing Ilie Repoi1 of the Trustees.
Responsibilities of ti'ustees
As cxplained Inoi'e fully in the Statement of Ti'ustees, Responsibilities, tlie ti'ustees (who al'e also the dii'ecloi's of the
cliai-itable company foi. the purposes of con)pany lawl are I'esponsible foi. the pi'eparalion of the findncial slateinenls and for
being satisfied ihal they give a true aiid fair view, and for such iiilei'nal conti'ol as the ii'uslees determii)e is necessary to
enable the preparation of finaiicial staieiiieiils iliat are fl'ee fron) material niisslalement, wheilier due lo fraud or eri'or.
In prepai'iiig Ilie financial stateinents, Ilie trustees al'e responsible for assessing Ilie Cliaritable ¢on)pany's ability lo continue as
a going concei'n, disclosing), as applicablc, iiiatters I'¢lat¢d to going concei'n and Lising Ilie g?oing con¢ei'n basis of aLcoLinling
Iinless Ilie ti'ustecs eitliei. intend lo IiqLiidate the charitable company oi. lo cease op¢i'alions, or l)ave no I'ealistic aliei'native bLII
lo do so,
Page 7

Repoi't of tlie liidepeiideiit Auditors to the Membei's of
"rhe Safety and Reliability Society
(Limited by Guaranlee) (Registered numbei-: 02348358)
Our responsibilities for the audit of the financial statements
Our objcctlVCS 3re lo obtain reasonable assuraiice about whetliei. the financial staleiiieiils as a whol¢ are free fi'on) nialerial
niisqtatement, wl)etlier due to fraud or error, and to is.que a Report of tlie Independent Audiloi's tliat includes oui. opinion.
Reasonable assui'ancc is a liigh level of assui'ance, but is not a giiai'anlee that an audil condueted in aecoi'dance witli ISAS
(UK) will always detect a matei'ial Inisstatement wlien it exists. Misstalenients can ai'ise froni fi'aiid oi. ei'ror and are
considered material if, individually or in the aggi'egate, tl)ey could reasonably be expected to influence tlie econotnic
decisions of users taken on Ilie b&8is of these financial statements.
'I'lie exteiit to wl)ich oui. pi'ocedures are capable of detecting iri'egularities, ii)cluding fralid 15 detailed below..
Ii'i'egulai'ilies, inclliding fi'aiid, al'e instances of non-compliance with laws and I'egulations. Wc design pi'ocediii'es in line with
our i-esponsibililies, ouil ined above. lo detcct malei'ial Inisstateinents iii re4pecl of iri'egularilies, including fraud. 'fhe exlenl
to wliieh oui. procedures al'e capable of deiectii)g irregLilarilies, including fi'aud is detailed below..
We ei)qiiired of i))aiiageiiieiil and Iliose cl)arged witli goveriiance about actual and potential litigation and claims,
including i'eview of I'elevant nominal ledgei. accounts.
We obtained an understanding of laws, reguldtions and 8uiddnce that afiect the Compaiiy, focusing on tliose that l)ad
direct effect oli the fii)ancial .slatements or that had a fundanieiilal effect oli ils opei'atlOl)s. Key laws, I'egFulations and
guidance tl)at we identified included tlie Coiiipanies Act 2006. liealtli and safety le(Fislaiion and ei)Iployinenl legislalioii.
3 - We enqiiired of manabTeinenl and those cliai-ged with govei'niince io idenlify £tny instances of non-coiiiplianee with laws
and regulations. We also reviewed meeliiig iiiiiiutes for evideiice of i)oii-¢ompliaiice willi relevaiit laws and regulations,
We reviewed the Conipany's financial slateinenl disclosures and agi'eed to supporting documentation to assess
coiiipliance will) tlie applicable laws and I'egulations discLl88ed above.
5 We gained an undeislanding of the conliols Ilial Inanageinent have in pla¢e to prevent aiid detect fraud. We enqiiii-ed of
Inanageinent clbout any incideiice5 of fraud tliat h1< d takeii place dLlI'ill&> Ilie accounting period.
6 - Tli¢ risk of fraiid aiid non-cnmpliaiice wilh laws and I'cgulalions was discussed witliin tlie audit teaiii and tests were
planned and pei'forii)ed to address iliese risks.
7 - In addressingJ Ilic I'isk of fraLid diie lo Inaiiclb)einenl ovei'i'ide of coiiti'ols. we pei'foi'nicd lestiiig of joiii-nal enli'ies and othei.
adjiistineiits foi. appropriateiiess, ¢valuatiiig the busii)cs5 l'alionale ot. sigynificaiit ti'aiisactions oulsidc the noi'i)i&l course of
business and reviewing accountiiig esliinales for bias.
8 We also clial lenge nianageiiient assuinplions witli regai'd lo accouiiling esliinales.
Despite appiopi'iale planning and pei'forming oiii. woi'k in accordance with Inlernational Aiiditing Standai'ds, there are always
inherent liinilations that non-coiiipliance is not detected. Non-¢ompliaiice with laws and I'cglilations is often fiiiiher reinoved
froin the events and transactions reflected in the finaiicial slalemcnls and iiialerial Inis5tatenients due lo fraud can be
deliberately coiicealed froni audiloi's, for exaniple Ihi'ough niisi'epi'e5¢1ltatioi), foi-oery or collusion.
A fuither desci'iplion of our respoiisibilitiLs for the audit of tlie financial statements is locatcd on the Finaiicial Repoiting
CoLincil's website al www.frc.oi.g.uklauditorsi.esponsibililies. This desci'iption foi'iiis parl of our Repoit of the Indepeiidenl
Audiloi's.
Page 8

Repoi't of tlie Iiidependeiit Auditoi's to the Meinbei-s of
The ,Safety and Reliability .Society
(Liniited by Guxi'antee) (Registei-ed iiumber: 02348358)
Use of our rei)ort
T'his report is made solely to the charildble con)pany's men)bers, as a body, in accordance with Cl)apter 3 of Part 16 of t])e
Compaiiies Act 2006. Oiir audit woi'k lias been iiiidertaken so Il)at we Inigl)I slate lo tlie eliai'itablc coinpaiiy's nieinbers tliose
niatters we al'e I'equircd to slalc to theni in an auditoi's, repoit and foi. no otlier pui'posc. To tlie fullest extent pcrinitted by
law, we do not accept 01- assuiiie responsibility to anyone otlier than Ilie charitable coinpany ¢ind the cliarilable coinpaiiy's
mcmbers as a body, for oui- audit work, foi. this I'epoit, or for the opinioiis we liave formed.
Jonatl)an Urinston ACA (Senioi. Siatiilory Aliditor)
foi and on behall'of Voisey & Lo LLP
8 Wini)iarleigJli Street
W3ri'inLJlon
C.lie.81)ire
WAI IJW
Page 9

The Safety aiid Reliability Society
(lJimited by Guai'antee)
Statement of Financial Activities
for the Year Endcd 30 June 2024
30.6.24
30.6.23
Total
funds
Uni'esti'ieted
fund
Notes
INCOME AND FNDOWMENTS FROM
Donatioiis and legaLies
25,300
19,492
Ch#rit#ble activities
Iiiconie fiom cl)ai'itable activities
Slibsci'iplions
Other income
{5,700)
98,640
2,427
116,974
2,995
Inveslnieiit income
1.597
715
Total
122,264
140,176
EXPLNDI'I'UIIL ON
ClIAI'ilable activities
Cliaritable activilies
106.412
94,591
Other
1,901
Tolal
106.412
96,492
NET INCOMF.
15,852
43,684
RF.C.OIYC.11.IATION OTr D'UNDS
Total funds brougl)I forward
159.532
115,848
I'O'I'AI, VIINDS C.ARRlb.D FORWARD
175,384
159.532
'riie i)otes form part of these financial staleiTrenls
Page 10

"rhe Safety and Reliability Society
(lJlmited by Guai'Antee) (Re%istered iiuinber: 02348358)
Balanee Sheet
30 June 2024
30.6.24
Total
funds
30.6.23
Total
funds
Notes
FIXED ASSETS
Investineiits
100
100
CURRENI. ASSETS
Debtors
Cash at bank and in hand
56,302
186?49
60,265
169,146
242,551
229,411
CREDITORS
Aiiiounts lalliiig diie witliin oiie yeai.
{67,2C)7)
(69,979)
NE'I. CURRF.NT ASSETS
175,284
159,432
'I'OI'AL ASSETS LISS CURRENT
LIABlI.i-rivs
175,384
159,532
NF.'I' AS'SETS
175,384
159,532
II UNI)S
Unreslrictcd funds
10
175,384
159,532
TOTAL FUNDS
175,384
159.532
'I'liese fiii2neial slatcinenls liave been pi'eparcd iii accoi'dance will) tl)e pr()visioi)s applicable to cliarilable coiiipanies subject
lo Ilie siiiall companies regime.
Tlie financial stateinents were approved by tl)e Board of .1 rustees and aiiiliorised for issue on
and were signed on its behalf by..
Mi. C Harrison - Trustee
Mi. P Stanton - .1 ru5tee
Tlie iiotes form pait of tliese fiiiancial stateinents
Page I

Tlie Safety and ReliAbility Society
{LiJnited by Guaraiitee)
Notes to the Financial Statemcnls
for the Year Ended 30 June 2024
ACCOUNTING POLICIF.S
Bssis of preparing the financial statements
The finaiicial slateiiients of Il)c ehai'ilable coiiipany, which is a piiblic benefit entity Linder FRS 102, have been
prepared in accordaiice with the Charities SORP {FRS 102) 'AeLounting and Reporting by C.h¢iritie5.' Stateinent of
Recoiniiiended Practice applicablc to cliai'ilies preparing tl)eir accounts in accordance with the Financial Reporting
Siandai'd applicable in tlie UK and Republic of Ireland (FRS 102} (cffeclive l January 2019),, Finaiicial Reportino
Siandai'd 102 'Tlie Financial Reporlingi Standard appli¢ablc in tlie UK and Republic of Ii'elaiid, and tlie Companies
Act 2006. Tlie financial staleinents liave been prepai'ed under tlie hisloi-ieal co.st convention, willi Il)e exception of
investinents which aj'e included at niai'ket valiie.
Tlie pi'esenlation cui'rency is £ sterling. Moiietary ainounls in these finan¢ial slaienienls are rounded to the iiearest £.
Tlie cliaritable coiiipany lias taken advantage of tlic following disclosiire exeinptions in preparing tliese financial
statements. as permitted by FRS 102 'The Financial Repoi'ling Siandai'd applicable iii Ilie UK and Kepiiblic of
Ii'eland,:
tl)e I'equirenienls of Section 7 Stalenienl of Cash l.'lows'
tlic I'cquirenienl of paragraph 3.17ld)'
tl)e I'eqliireinents of paragraplis 11.42, 11.44, 11.45, 11 .47, 11 .4818)(iii), 11.48lalliv), 11.48{bl and I1.48(c)'
th¢ I'equireinenls of paragi'aphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.
Income
Al l inLome is recognised in the Staten)¢nt of Financial Activitics once the charity has enliilemenl to the funds, 1¢ IS
probable that Il)¢ income will be I'cceived and tlie an)ount can be i)ieasui'ed I'eliably.
Expenditure
Liabilities al'e recognised as expendilui'e as soon as thcre is a legal vr constructive obligation ¢oimmittiiig the Cliarity
to tl)at expeiiditure, it is probable Iliat a traiisfei. of economic bei)efits will be I'eqLiired in seltlcineiil aiid tl)e amount
of Il)e obligalioii cai) be measui'ed reliably. F.xpeiiditure is accoiinted for oli an acci'uals basis and has been classified
uiider lieadii)gs tlial aggi'egate all cost related to tl)e categyory. Wliei'e c051s caiii)ol be directly allribuled io particular
)eadii)gs Iliey liave been allocated to activities on a basis Consistcnl will) tlie use of I'esoiirces.
l-Axation
'I'he cliarity is exempl from corporatioii lax oil its charitable a¢tivilies.
Fund Accounting
Unrestricted fui)ds cali be used in accordance with tlie charilable objecliv¢s at the discretion of tlie trustees.
Resli'icted fiinds can only be iised foi. particiilar restriclcd piirposes within the objects of the charity. Resti'ictions
arise when specified by Ilie donoi. or when funds ai'c raised foi- particular iestricted purposes.
Further explanatioii of the nature and purpose of each fund is included in the notcs lo the financial stalemenls.
Pension costs and other post-i-etirenient benefits
The chai'itable coimpany operates a defined contriblltion pension s¢heme. ContribLltions payable to the charitable
coinpany's pension sclieime al'e Charged to the Siateineiit of Fiii<in¢ial Activities in the period to whicli they relate.
Going Concern
Ai the time of approvina
tlie financial statenients, the Irustee.q have a reasonable expectatioii d)al tlie cliarity lias
adeqLl8te i'esoui'ces to conlinLie in opei'alional existenee for Ilic foreseeable future. Thus tlie trustees continue to adopt
the going concerii basis of accountiiig in prepariiig ilie financial stateineiits.
Page 12
¢ontinued...

The Safety aiid Reliability Society
(Limited by Guai'aiitee)
Notes to the FinAnci#l StAtements - Continued
for the Year Ended 30 June 2024
ACCOUP4TING POLICIES- continued
Debtoi's
Ti'ade and other debtors are recognised at the seltleinent ai)iounl due after any trade discoiint offered. Prepayments
are valiied at the ainouiil pi'epaid iiet of aiiy trade discouiits dLIe.
Cash At bank and in hand
Casli at bank and casli in hand includes casli and sliort terin higl)ly liquid investments with a sliort Inaturity of tliree
i))onil)s or less fiom tlie date of acquisilioii oi. opei)ii)g of Ilie deposit
Creditoi's Ajid provisions
Creditors aiid pi'ovisioiis are recogiiised where the charity has a present obligaiion resulting from a past event Iliat
will probably r¢suIt in the traiisfer of funds to a Iliird party aiid the aniouiit due to settle Il)e obligation can be
nieasured oi. estiinated reliably. Creditors aiid provisions are noi'siially recognised at Ilieii. seltleinent aiiiount after
allowing foi. any Ii'ade discounts due.
Tr"in&Ji¢i91 insti'uments
Tl)e trust oiily lias financial assets and financial liabilities of a kind that qualify as basic financial inslruineiits. Basi¢
financial instruments are iiiilially recogiiised al traiisaclioi) value aiid subsequently nieasui'ed at tl)eir settlement
value.
Govej'nment grAnts
Thc acci'ual model h&8 been adopted lo recognise government grdnts in the year and are measiii'ed at the fair vallie of
tlie asset received or receivable. Where a grant becoines repayable il is re¢ogni5ed as a liability wheii the I'epaym¢nt
nieets the definition of a liability.
SIAlutoiy Infoi'mAtion
Thc Safcly and Reliability Society, a company limilcd by guarantee, is domiciled in Lngland & Wales, I'e8iStration
niimber 0234835 8. The regisiei'ed office is Hollinwood Biisincss Ccnli'e, Albert Sti'eet, Oldham, Mancl)ester OL8
3QL.
INVESTMENT INCOME
30.6.24
Bank interest
1,599
714
1,599
714
Page 13
continued...

The Safety Mvtd Reliability Society
{lJimited hy Guarantee)
Notes to the Financial Statements- eontirtued
for the Ye&r Eiided 30 June 2024
NET INCOMEI(EXPENDITURE)
Net in¢oiiiellexpendilui'e) is slated aftei. eliargin￿<CredltIngj'.
30.6.24
30.6.23
Auditors, remunei'ation
2.771
2,640
'rRUSTEES' RLMUNERATION AND BkNLbl'l'S
Tliere were no Iruslees, remuneration or other benefits foi. the year ended 30 Julie 2024 nor for Ilie year elided
30 June 2023.
ReinunerAtion of Key Management Personnel
Tlic cliarily considcrs its key i)ianageinenl pei'sonnel lo comprise its Ti-LlStecs and Chief Execiitive. 'fhe total
employinenl benefits iiicludin&Y employer pensioii coiili-ibutions ai)d eiiiployers nalioiial iiisiiraiice of Ilie key
Inanageinenl pei'sonnel were £42,774 {2023 £38,342).
Trustees, expenses
'hei'e werc nu trustees, exp¢nscs paid for the yeai. ended 30 June 2024 noi. for tl)e year elided 30 Jiine 2023.
SI'A Tr'F COSTS
Tlie average montlily niimber of eniployees dLlI'ing Ilie year was as follows..
30.6.24
30.6.23
Admiiiislralion
No employee% received einolLiinenL8 in excess of £60,000.
COMPARATIVLS FOR TIIE STA"I'EMENT or Tr INANCIAL Arrivi'i'iF.S
Uiirestricted
fund
INCOME AND F.NDOWMLNTS FROM
Doiiatinii.q and legacics
19.492
Chai'ilable activities
Subscriplioiis
Other incoine
116,974
2,995
Iiive%tnienl income
715
Total
140,176
EXPENDITURE ON
C.liai'itable activities
Cliaritable activities
94,591
Patse 14
contiiiued...

The Safety aiid ReliAbilily Society
{Lirnited by Guarantee)
Notes to the Financial Statements - continued
for the Ycar Ended 30 June 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued
Unrestricted
nd
Other
1,901
Total
96,492
NLI. INCOME
43,684
RFCONCILIATION Ob Tr UNDS
'I"otal funds brougl)I forward
115,848
TOTAI. FUNDS CARRIED FORWARD
159,532
II IXED ASSET INVESTMkN'rs
Sliares ii)
gi'oup
undenakings
MARKf.T VAI,IIF,
Ai l July 2023 and 30 June 2024
100
NET BOOK VALUL
AI 30 June 2024
100
AI 30 June 2023
100
Thei'e were no investment assel.% outside the 11 K.
Tlie Coiiipany holds i aoo/o of the Ordiiiaiy Sharc Capital of SaR8 Liinited, inLorpoi'aled in England aiid Wales. 'fhe
regyislered office address is Holl inwood Busincss Ceiitre, Albert Streel, Oldhani, 01.8 3QL.
.SaRS Limited Liiiderlake tjie promotion of scientific study of safety and relial)ilily aiid associated discipliiies. Tl)e
results for Ilie year are as follows..
30.06.24
30.06.23
Assets
Liabilities
12,643
16,687)
8,812
(6,917)
Shareholders, Funds
5,956
1,895
Paoe 15
continued...

The Safety and Relisbility Society
(Limited by Guarantee)
Notes to the Fiiiancial Statements- continued
for the Year Ci nded 30 June 2024
FIXED ASSET INVESTMENTS- continued
3a.06.24
30.06.23
Turnover
Expenditure
21,6?]
17,560
22.694
ProfitJ{L055) foi. the yeai.
4,061
29
DEBTORS: AMOUNTS FALLING DUE WITHIN ONL YEAR
30.6.24
30.6.23
Trade debtor5
Ainounls owed by group und¢i'takings
oihei. debtoi's
Prepayments and accrued income
39,584
3.723
1,296
11,699
40,357
3,797
1,296
14,815
56,302
60.265
CRLDII'ORS: AMOUNTS FALLING DUF WITFIIN ONE YEAR
30.6.24
.30.6.23
Sub.qcrii)tions in advance
Social security and oilier taxes
oiliei. ¢i'editors
Aeci'uals and deferi'ed incoine
63,610
893
244
2,520
66,700
7.34
2,545
67,267
69,979
10.
MOVF.MENT IN FIJNDS
Net
Inovemeiit
in funds
At
30.6.24
At 1.7.23
Iliirestricted fuiids
Geiieral fund
159,532
15,852
175,384
TOTAL FUNDS
159,532
15,852
175,384
Paue 16
continued...

The Safety ai)d Reliability Society
(LiInited by Guarantee)
Notes to the FinanciAI .Stgtements- continued
for the Year Ended 30 June 2024
10.
MOVEMENT IN FUNDS- continued
Net Inoveinent in funds, iiicluded in the above are as follows..
Incoming
resources
Resoiirces
expended
Moveinent
in funds
Unrestricted funds
General fund
122,264
(106,412)
15,852
TO'I'AI, FUNDS
122.264
(106,412)
15,852
CoJnpai'ative5 foi. movement in funds
Net
mov¢iiiei)t
in fund5
Ai
30.6.23
Ai 1.7.22
Uni'esti'icted funds
Genei'al fuiid
115,848
43,684
159,532
TOTAL FUNDS
115,848
43,684
159,532
Comparalive nel Inoveincnt in funds, included in the dbove are as follows..
Incoining
I'esoiirces
Re%oui'ces
expended
Movcmenl
in funds
Uni'esti'icted funds
(iei)ei'al fuiid
140,176
{96,492)
43,684
TOTAL Tr"UNDS
140,176
{96,4921
43,684
Page 17
conlinued..-

The Safety And Reliability Society
(Lin)ited by Guayantee)
Notes to the Financial Statements- continued
for the Year Ended 30 June 2024
EMPLOYF.E BENEFIT OBLIGATIONS
The cliarity opei'ates a defined conli'ibulions pension Scheiiie. I'l)e assets of tl)e scheme are Iield separately fi-oni
tl)ose of tlie chai'ity in an independently adiministei'ed fund. The pension cost chai'ge I'epi'esents conti'iblilions payable
by the charity to the fLind aiid ainounted to £2,161 (202) £1,522). There wei'e no outstanding coiilribulions at the
balance sheet dale.
12.
RELATED PARTY DISCLOSURES
The company lias a wholly owiied operating siibsidiai'y, SaRS Limited, wlii¢l) reehai'ges to Ilie conipany a pi'oportion
of its adit)inislralion expenses and staff costs. During) tli¢ year, the recliarges amouiited to £25.930 (202J'. £27,267).
At tlie balancc slicct ddte, tlie balance owed by SaRS Liiiiiled to the coiiipaiiy aii)ounled to £3,72312023 £3,797).
13.
DF.FERRED INCOME
Deferi'ed incoiiie comprises of subscription incoine I'ecieved wliich relates lo fLlture periods.
Balance as at I st July 2023
Amount released lo iiiconie earned from otl)ei' tradints activities
Ainount deferred iii tlie year
66,700
(66,700)
64,560
Balance as at )Oih Jiine 2024
64,560
14.
s'rATUS OF COMPAP4Y
I'he Company is liinited by guarantee without sl)are capilal. Ai Il)e yeai. end date tliere were five guai'antors and each
guai'anlor is limited by gliaranlee to £ l.
15.
TAXATION
As a charity, 'I'he Satety and Reliability Society Limited is exempt from lax on incoiiie aiid gvaiiis falling) withiii S505
of tlie Taxes Act 1988 or S?56 of tl)c Taxation ot. Cliai'geable Gains Act 1992 to Il)e exlenl tlial tliese are applied to
ils cl)arilable objccls. No cliai'ges have ai'iscn in the cliarity, l-ax I'ecovercd oil donations and siib.8criplions I'eceivcd
Linder Gift Aid iii the year aiiiouiiled to £11,908 (202.) £12,419).
Page 18

The Safety aiid Reliability Society
(Limited by Guurmiitee)
Detailed Statement of Financial Activities
ror the Year Ended 30 June 2024
30.6.24
30.6.23
INCOME AND ENDOWMENTS
Donations and legacies
Donations
25,300
19,492
Investment income
Deposit account interest
1,597
715
ChAriiable activities
SLibsci'iptions
Other income
92,940
2,427
116,974
2,995
95,367
119,969
I'otAI incoming i'esoiii'ces
122,264
140,176
F.XPINDITIIRE
Clia I'itable activities
Wages
Pensions
Rates and water
Insurance
Postage and slalionery
Advertising
Lxpenses I'ecliargyed fi'oi)I SaRS
Journal expenses
50,917
2,161
968
407
2,049
776
25,930
9.354
40,813
1,522
206
382
1,964
27,267
7,350
92,562
79,504
Oilior
E3<id debts
1,901
Support costs
Finaiice
Bank cliarges
Otliei. taxation interest
2.530
2,781
2,541
2,781
Otlier
Suiidries
Cari'ied forwai'd
3,061
3.251
3,251
Tl)is page does not foi'm pail of tlie statutory financial statemcnts
Pa￿e 19

The Safety and Reliability Society
(Limited by Guarantee)
Detailed Statement of Fiii#neiAI Activities
for the Year Elided 30 June 2024
30.6.24
30.6.23
Other
Brouglil foiTrvard
Bl-anch Grants
3.061
85
187
3,146
3,438
Govei'nance costs
Auditoi's, I'einuneralion
F.n&pineering Coiincil and Ha£ard Foriim fees
2,771
5.392
2,640
6,228
8,163
8,868
Total resources expended
106,412
96,492
Net income
15,852
43,684
Tliis page does not foi'm pait of tlie statLltory financial statctnenls
Page 20