REGISTERED COMPANY.NUMBER: 02355403 (England and Wale5) REGISTERED CHARITY NUMBER: Report of the Trustees and UiiMuditL'd FinfinL'i#I Statemenls for Ihe YeAr Lnded 31 MYdr¢h 202S for International Academic Projcets Limited {A Company Limited by Guarantee) Guy Walmsley Limited 3 Grove Road Wrexham LLII IDY
International Academlc Projects Limited Contents of the Financial Statements for the Year Ended 31 March 2025 PAge Report of the Truslees Independent Examiner's Report Statement Inaneial Actlvltles Balance Sheet ote$ to the Flnancl#l Stat¢mentS 6 to 10 Detallcd Stalcment of Financial ActlvltlL>S
International Academic Projects Limited Report of the Trustees for the Year Ended 31 March 2025 The trustees who aTe also directors of Ihe charity for the purposes of the Companies Act 2006, present their report with Ihe finanLldl .%t£ltements of Ihc ch1(Y f()r the yeai. endLd 31 Mdrch 2025. The IrLl¥tcc% hiive adopted the provisions of ALL()UT]liiigJ and Reporting hy Cliarities.. Statement of Recommended PraLtice applicable lo charitlL% PTL"pai-ing their aLL()unts in acLordancc with the FinanLial Reporting Standard dppIiLÉiblL ITI the UK and RcpubliL ()f Ireland (FRS 102} (elTeLliv¢ l January 2019). OB.1 P.CI'IVES AND AC.'I'IVII'IES ObjeLtivL% aims 'I'hL object.s of the Loinp(Iny are the continuing eLIuciilion and training ot pcrsons in the conservalion lind I'e%l()rdlion ol-work4 ot.arl tliroughoiit lh¢ wurld by Ihe provisiun of tr¢iiningy courses, conAerLncc% and I'el¢viiiil lilLfiilui'e. ActivitiL'S 'I'he Lllliipaily conlinued ti) l)e very aclive (SLC bLlow). The main chdng¥ wa8 the absence of upLn vour%es in 4ilii lind the subseqLILnl iiiLI-e<i%e in virtual COUTSL'% and virtual semin<if5. l . Cheini%lry foi. C'onsL'i'valor.% - this four nionlh LOTrespondence cour5c agpain had 3 intake8 <ll)(I i-einaiiis popular (Il)e number of sludenls in cEtLh intake is qhown in bi'ackel%)'. I st Seplcillher 71124 {35) dnd I st Jdnuary 2025 (35), I sl MarLlI 2025 (35}, (105 peisons in lol(Il). 7 I)i)Ln %horl virlutil Lour%L4 (() hour% in 2 3-hour spread over 2 c()nseculive ddyS) werc ()ffLie(l onlinL' (subj¥cl4.' IPM; 11) ot. Insecl l)¢81%' Ha/ards in (:ollecli<)n%)) and 2 private l)oi'l Lour8Ls f()I' ICRI (Irisli Con$erval()rs) - on¢ ()n l>igFinLnls Ilie oihLr on Polyiiiers 3. 16 ()ne hour %eininar.% L()ur.%es look place ()nlinL in %ubjLLl% includinb... Sionc, Pigmenls, 3D l)riiiiiii¥. li'()n and Sieel. Coii8¢rvali()11 Cleanin&', Display ()t' I li%t(Jric Dr¢%%, Chiiicsc Melallurb'y (Ind Adhesivcs lind Consulidtinls. 4. '1'he l()I'malion lif IAP C%Piigiiol in June 2024 orgT4iniscd with Ana W()rlley in Buenos Aircs ullci-in&Tr one hour virlual 5ciiiinArs in Spani811. One Seminar pcr m()nlh occurred from Junv lo Dcc'eiiibei. 5. We providLd d 3 day Ll()%ed in-%ilu Irainingy course in OLlober in 8ingFaporc on Hydrogcls loi. (.'oii%Lrvalion ('ILcinin&F li)r ihe con8ervalii)n deparlinenl iTrf I lerilage Sin&F(IPOI'C ci)ndiiLled by M4iiihLw ('u8hma IIINANCIAI, RLVIF.W 'rinL'ipal fundiiikb s(JurLI'5 'riiL lildlli inti0111L slreaiii 1% froin prI1¢1paI]ts, fcc%, or from or&Fani,salions who have aqkcd li.8 t() run a i)ui'liLuliif L()Lir%e loi. Ilieii. ciiiployees. On occasion byraiit8 by grani fiindin&y bodie,8 or in8lltulion% are &yiven lor 4uppI)rl ()l-a piibliciiiioii ora book. I nvcstmeiit poliLy llnd objectlves 'riiL inve,slnienl slraleg'y was disciissed, and rc.scrves were placcd into an interesl-bcaringp account. RL'serV p¢)IiLy lill) tlie reserve.s and balaiice slieel in goiid order, we have been able to set up IAP espagnol knowing IIIMI we will need lo .sub%idise it initially we wdnted to muke inforniation readily uvailable for Spanish speakers in Latin America and Europc. We hope to contiiiue to use the rescrvey to support di%ddvantaged conscrvatorslwould be conscrvul()rs where we SCL IhLre 15 a neL.d.lilerature. FUTURE PLANS In 202512C), IAP expecls t() cnntinue to oifLr thL Chemistry for Conservators Lorre8pondence coiirse with 3 intdkc8 pei- anniiiii and virtUc11 courses and virtual seminars in the UK and dhroad. We do not CXPLCI to run in-situ cour.%es in thL UK except closed Lourges tor pJrti¢ular organisalion%. Pag¢ I
International Academic Projects Llmited Report of the Trustees for the Year Ended 31 March 2025 .%'I'RUCTURE, GOVERNANCE AND MANAGEMENT ( pON'L'I'niiig document 'I'lIL' Inleri)aliondl Academic Pi'ojects Limited is a company limited by giiarantee incorporated 6th March 1989 in F.Iigland diid Wales as defined by the Compdnies Act 2006 and is governed by its ML'morandum and Articles of As%oLialion. 111% I'e¥i8lered Charity with the Lharity Commi%qion (F.ngldnd & Wale8). number 802538. Dii"eLlur% / ii-Lislees M%. Boyd White. Mi.. Dimoldenberg and Mr. Black have di%LU%%Ld the obligdtion% of directors under charity and L()Iiipany law. tli¢ MLinor<induin ol- A.%.sociation, and Ihc rL'vLnl and future activities of the coinpany C.orporale (iOV¢'rnance 'riie Iwo dirLLliii's ucl IhL' g()vcrning body. miiinlainingF conirul vvLr the company and Monitoring ils man<i¥emL'nt, hdvinbJ Ihc uliiinale respoii%ibilily t.or the tindncilil %labilily of the Lvinpany. The company %eLrelary is responsible lu the Lloill'd fi)r ensuring Ihilt Ll()ard procedurc4 (Ire f()Ilowed. Risk managyement Tlic L4oard has reviewcd Ld idenlified Ilic risks to which Il)c ()Tgyanisation mighl bc cxpused and has takcn th¢ requisile %lcp.% for miligaling Ihcin R Tr.b'b.RENC& AND ADMINISTRA'I'IVE DE'I'AILS RckFlYtL'red Comp4ny number 023554113 {b.nglaiid and Waleg) IIL'LJisIL'rcd ChrItY nuinbcr RLkWl%tI'red orrJcL 3 CJl-Iivi IloaLI Wi'exli<iin LLII IDY ru%lc'es Mi. l) I I l)im<)IdcnbLr Mi. I Carlwi'ibylil (i'e%igyned 1.6.24) l) G L 11 Whylc (appoinlLd 1.6.24) Company Secretgry MI'J 141ack Independent .xM1Ner Qiily Wiilmsley LiinilLd 3 Gri)ve Road Wi'exhain LLI I 11)Y 'I'liis I'eporl lia.% been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating i() 41111111 coiiipanies. ApprovLd hy order ofthe bo<ird ol. Iriistee% on . g...... and signed on 115 behalf by: Mr P H Diinoldcnbcrg - Trustee Page 2
Independent Examiner's Report to the Trustees ot
International Academic Project5 Limited
Independent examiner's report to the trustees of International Aeademlc Projects Limited ('the Company,)
I rL'port to the Lharily ti'u8lees on iny examination of the accouiits of tlie Coinpany foi. the yeai. ended 31 Mai-cl) 2025.
Responslbilities and basls of report
As the charity's ti'ustees of the Comp}Y (and also ils directors for the puwoses of company law) you are responsible for
the prep&iration of the accounts in accordance with the requirefftnents of the Companies Act 2006 ('the 2006 Act,).
14<tving satisfie(I my.self that the accoiints of the Company are not required to be audited under Part 16 of the 2006 Act
nd are eligible for indepeiidenl examination, I report in respect of my examination of your charity's accounts as carried
OLII under Section 145 of the Charities Act 2011 ('the 201 l Act,). In carrying out my examination I have followed the
Directions given by the Charity Commission undLr SLLtion 145(5) (b) of the 201 l Acl.
Independent examlner's statement
I h£tve LoiMplLled Iny examindllon. I confinn that no rnallers have come to my altenlioii in connection wilh the
exaiiiinalion &Jiving In¢ oau5e lo believe:
accounting records wer¢ nul kepl in respect of the Company as required by Se¢lion 386 of the 2006 Act: or
Ihc aLL()unls do nol dLLord wilh Ihosc itLord%- or
IIIL. (ILLounl% do nol coimply with Ihc ac¢ounlingJ requir¢inent% ()f Section 396 ot. the 2006 Act oiher than any
i-eLllllI'¢in¢'nl Ili¢tl Ilie aiL()Iinl% &pivc a truc (Ind fnir vieiv which is nol a IMall¢r L()nsidered u% part of (iii indepcndLnl
¢Xiiininati()n: oi.
11)L <iLC()unl.% liavc not bcLn prei)(Ired in d¢cord&inLe with the mclhods and principles of Ihe 8ialLmenl ()f
IILL()iiiinLn(led Pi
International Academic Projects Limited Statement of Finincial Activities ror the Year Ended 31 Mareh 2025 31.3.25 Total funds 31.3.24 Total fui)ds Unrestricted fLmd Restricted fund Notes INCOME AND EIYDOWMENTS FROM Charitable activities Colirses 176,978 176,978 194,749 Inve%tinL'nl incoille 3,166 3,166 2,130 Total 180,144 180,144 196,879 EXP&;NDII'URE ON Charitable activitles C(iur%¢¥ 158,596 158,596 174,390 NET INCOME 21,548 21.548 22,489 RF.C'ONCILIATION Ob FUNDS 'I'ulal funds hi'oughl f()nvai'd 205,422 205,422 182.933 'I'O'I'AI. FUND% CARRIED FORWARD 226,970 226,970 205,422 Tlie notes forn] part of tliese financial slalemenls Page 4
Internation21 Academic Projects Limited Balance Sheet 31 March 2025 31.3.25 Total funds 31.3.24 Tolal Unrestricted fund Restricted fund Notes CURRENT ASSETS Debtors C<ish al bank 3,348 265,859 3,3414 265,859 10.120 217,619 269,207 269,207 227.739 C. R Tr:DITORS Ain()ui)Is Idllins due within one ycar (42,237) (42,237) (22,317) NET CURRELYI, ASSETS 226.970 226.970 205,422 TOTAL ASSFT8 LFS.S CURRLN'I, .IABILI'I'ITr:S 226,970 226,970 205,422 NLT ASSTr:'I"S 226,970 226,970 205.422 Uiii'L%lriLILd funds 226,970 205,422 '()-I'AI, b UNI)Si 226,970 205.422 'I'IIL Lllai'ilblc Lompany is enlitled lo exempli<)n Ironi audit under Section 477 of thL Companies Acl 21106 for thc year ciided 31 March 21125. 'ri)c InLiiib¢r% have not required Ihc company lo ()biain an aiidil. of ils financial slatcmcnts for thL year inded 31 March 2025 in LiccordancL wilh 8eLtion 476 01. Ihe CoinpiiniL'.8 ALI 2006. 'I'he Iruslee4 acknowledge their rc%ponsibilities lor (a) en8uring Ilial Ihe Ll)aritablc ci)mpany keeps aLcounling rLcords that comply with Sections 38() and 387 01. Ilie Companics Acl 2006 and preparing financial sialcinenls which givc a true and fuir view OL. the %lale of affair8 of IhL' cliaritable company as al ilie end ()[ each finanLial year and {)[ its siirplu% ()r delicil lur LdLh financial ycar in accordance wilh tli¢ I'LqLiiremcnls ol. SeLlion8 394 and 395 and whiLh olhL'fwi.SL Lomply with Ihc r¢quireinenls ol. Ihe C()Inpanies Act 2006 1¢1(tling lo finanLial slatements. so lar db 2ppliLablc to lh¢ charitablc company. (b) 'I'IIL%e financi<11 .slalemenls liavc been prepared in accordancc with the provisions applicable to charitable coiiipanies siibjeLI Iii Ihe .%lli<ill Lompanies regimc. Tlie ii)L'iil4 were approved by the 13oard of Trustees and iiulhorised for issue and were signed on ils belialf by: on Mr P I l Dinioldunb¢rg - Trustee The notes fomi parl of Iliese financial slateRnent5 Page 5
International Academie Projects Limited Notes to the Financi1 Statements for the Year Ended 31 March 2025 ACCOUNI'INC POLICIES Bxsis ot preparing tlie financial statements The financial slalements of tlie charitable company, which is a public benefit entity under FRS 102, have been prepai'ed in accordanctt with the Charities SORP (FRS 102) 'Accounting and Reporllng by Charities: Si<ilement of ReL'ommended Practice applicable to charities pr¢paring their accounts in accordance with the Financial Repoi'ting Standard applicable in the UK and Republic of ITeland (FRS 102) (effective l January 2019),, FinanciLI1 Reporting Siandard 102 'The Finaneiiil Reporting Standard applicablL in the UK and Repiiblic of Ii'eland, ancl the CoinpaniL's Act 2006. The financial slatL'menls have bL'en prepared under the hislorical cost convention. The IrLi%lee8 Consider Ihal there are no material uncertainties about the charity ability lo continue as a going Loncci-n. The financic11 glaleinenls are for the individu(Il enliiy only. Th¢ Lon)pany's funLlional and prcseniational ¢urrLncy is pound sterling, roundcd lo the nearest pound. IIiLomi' All inci)Ine 1% recognibed in the SidlLrnenl of Fin<illLial ALlivilies (InLc Ihe uhai'ily h(1% enlitleinenl to the funds, tl is pi'obablL' Ilial IhL incoinc will bL received, and the atni)unl can be mL(Isured rLliably. 'I'uniovLI' 1% ainounl derived from pr()vision Dl. gu()ds and serviLe8 Sluled after tr<ide disLOUllts and ()thcr Sales 'LC8 rcL'eivLd in I'c.%pec( ol'c()ursc8 run are recognised ai the dale 41 whiLh Ihc cuurse providvd. E¥pLnditurL Li(IbililiL'& al'e rccogvni%cd as L'xpendilure a% Soon as Iherc is a Icgyal L)r conslruLlive Dbligyalion Loininiiiingy IhL Llillrily lo Ilial Lxpendiliire, il 1% pr(Trb¢ible Ilial a Irun.4ler ul. economic bLnefil8 will be re<iuired in %L'iileinLnl dnd IIIL dinounl ()r IhL obligy<ilion can be InLasurLd reliably. I',xpLndilurc i.s aLLuunled lor on an dLLriials basis and has been Lla48ifiLd under headings Ihal agLyregalL' all Lo81 relalLd io Ihe cate&F(Iry. Whcre LO81.4 cannol be dircLIIy Illribiilcd to Pdrliciilcir hcadingls, they have been alloLdled to aclivilies on a basi8 con.sislcnt with Ihe USL of i-csourLC8. 'aii&yiblL fixL'd as¥L*t% DLprcLiaiioi) 1% provided ai Illi following annuul rale.$ in ordcr lo wrile off each a%%el over ils eslimated uselul I, ixliire8 and fillings 2.50/0 on reducing balance Taxution 'I'li¢ cliarity is ex¢mpt froiii corporation tax on its charitabl¢ activities. Fund aic(bunlinL Uni'L'sti-i¢t¢d ILlI)ds can be used in a¢cordan¢e with the charitable objectives al the discretion of the trustees. Restricted funds can only be used for particular reslricled purposes within the objects of the charity. Restrictions ai-ise when specified by tlie donor or when funds are raised for particular restricted purposes. Further explanation of tlie nature and purpose of ¢arh lld is included in the notes lo tlie financial stat¢nients. Foreign curren¢ic5 Asscls and liabililies in foreign currencies are translated into sterling at the rates of eKchang¢ ruliiig at Ilie balance slieet date. Transactions in foreign currencies are translated into sterling al the rale of ¢xchange li1]g al the dale of transaction. Exchange differences are taken into account in arriving at tlie operating result. Page 6 continued...
Internatlonal Academlc Projects Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES- continued Financial instruments Ti-ade debtors and trade creditors are measured at the undiscounled amount of cash or other Lonsideralion expeeled lo be paid or received. Financidl cissets al'e assessed at the end of each reporting period for evidence of impainnent. If evidence of impairment is found and impaiirnent loss is recognised in the Staternent of financial activities. INVESTMENT IIYCOME 31.3.25 31.3.24 Deposit accounl iniei'est 3.1()() 2.130 NET INCOMF,I(EXPENDITURF) Nel income/(¢xpenditui'e) is slated after charging/{Lrediling} 31.3.20 Indep¢ndLnl examincrb fLLs 1,020 1.112U 'I'IIuSTTr:'s, RFMUIYF.RA'I'II)N AND BEIYFTrITS 'lie Iru%lL'LS all give frecly their lin)e und Lxperti%e withi)ul any fonn of remiincration or oihL'r benetii in ca8h or kind (2024.. nil}. 'I'rustL'e¥' Lxpen%Ls 'I'lici'L wL'I'e ni) li-u.slLCS' expcn%Ls paid fur thL year L'nded 31 March 2025 nor for Ihc ycllr ended 31 Mai'cli 2024. COMI'ARATIVFS Tr'OR TIIL,STAI'LMENT OTr. FIIYALYCIAI, AC'fivi'i'iES Unrc81ricted Reslriclcd rund Total INCOMF. AIYD F,IYDOWMENTS TrROM ChAritublL' uctlvitics cour.ses 194.749 194.749 Inve.slnient incoine 2,130 2,130 'rotal 196.879 196,879 EXPENDITURE ON Charitable activities Coiirses 174,390 174.390 NET IIYCOME 22,489 22,489 RECOIYCILIATION OF FUIYDS Total fiinds brought torward 182,933 182,933 Page 7 ontinued...
International Academic Project5 Limited Notes to the Finaneial Statements - eontinued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund lui)d TOTAL FUNDS CARRIED FORWARD 205.422 2U5,422 TAIYGIBLE FIXED ASSETS Fixtures and fittings COST Al l April 2024 and 31 Mch 2025 11,902 DF.PRECIATION Al l April 2024 and 31 M(Irch 2025 11,902 NF,T BOOK VAI.UE Al 31 MarLh 2025 Al 31 March 2024 DLBI'ORS: AMOUNTS FAI.I.ILYC DUE WITHIN ONE YEAR 31.3.25 31.3.24 I'rade dLbior8 Prepayinenl8 2,225 1.123 11,987 3.34X 10,120 CREDI'foRS: AM()UNT% Tr ALLING DUF WITHIIY OLYE YEAR 31.3.25 31.3,24 Trade creditors 42,237 22,317 li)cluded in trade creditors 18 accrued cxpen8e8 and deferred income in the sum of £695 (2024.'£6,540). Deferred iilLom¢ comprises oL-courbe fcLs paid in &idvanre ofthc course date. fvIOVEMP NI. IN FUIYDS Nel movem¢nl in funds At 31.3.25 Al 1.4.24 UnrL'5trictcd funds Genei'al fund 205.422 21,548 226,970 TOTAL FUNDS 205,422 21,548 226.970 Page 8 continued...
Internatlon741 Academic Projects Limlted IYote$ to the Financial Statements - continued for the Year Ended 31 March 2025 MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds Gener£il lund 180,144 {158,596) 21,548 TOTAL FUNDS 181),144 (158,596) 21.548 Comp#ratlvey for movement In funds Nel movemenl in funds Al 31.3.24 At 1.4.23 Unrestrlctcd fund5 Cieneral fund 182,933 22,489 205,422 TOTAI. bUNDS 1112,933 22,4119 205,422 C.omparalive nel movernent in fund8, included in the above are &8 follows.. ncoining resource.8 Resource4 expended M()vemenl in lundt Unrestricted fund General fund 196,879 (174,390) 22,489 'roTAL FUND,8 196.879 {174,390) 22,489 A ¢urrent year 12 months and prior year 12 monlhs combined position is as follows.. Net movemont in funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 182,933 44,037 226,970 TOTAL FUNDS 182,933 44,037 226,970 Page 9 continued..
International Academic Projects Limited Notes to the Financi41 Statements - eontinued for the Year Ended 31 Mareh 2025 MOVEMENT IN FUNDS- eontinued A CLlI-ren( year 12 Inonths and prior yeai. 12 months combined nel movement in funds, included in the above are tollow%: Incoming resources Resources expended MovLTnent in thnds UnrestrictL'd funds (ieneral fund 377,023 (332,986} TOTAL FUNDS 377,023 (332,986) 44,037 io. RELATLI) PARTY DISC.I.OSURES l)uring Ihe ycar the conipany .secrelary, Mr J BlaL,k. W41S P&iid co-ordinator fccs in the suin of £1 0,000 (2024: £24,500). r)uring Ihe year Inlemalional Academic Projects Limited recharged cxpense8, in Ihe 8uin of £4,427 (2024: £9..$26) l() ArcheiypL PubliL<ili()n.8 Limited and ArchelyPL PubliLalion8 Liiniled rLLhargied Lxpen%L% lo IniLrn(Itional ALadLinic ProjeLts Limiled in the sum of £8,898 (2024,. £8.853). In Ilie year cnded 3 1st March 21124 ArLliclype lJubli¢alion,% limilcd inadL Siile.s at inarkLI valuc in Ihe 8um of £0 (2024.. £0) 1() Inierntilional AL'ki(leinic I'rojccl% LiinilL'(l. Thc Loinpany %ecrctary Mr J Lllack is u diroctor (If ArLhelype PubliLaiion.% Limilcd. LIMI'I'Tr:D BY GUAKAN'I'b:F, 'I'he coinpiiny is liinilLd by guuranlee. F.ach Member has agreed lo pay the niaxiinum of £ l in the evcnl of the Cliiirily bcin&v wound up. Page 10
InternAtlonal Academie ProJeets Limited Detailed Statement of Financigl Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Investment Income Deposit account interest 3,166 2,130 Charitable activitles c.ourse feL's 176,978 194.749 Total ineoming resources 180,144 196,879 EXPENDITURE Charilable aetivitie5 Siatl. LU515 Rent, i'atcs and water nsuranue 'I'eleplionc Poslugc and slaiiunery Sundries cou¢ expenses 37,219 6,215 1,236 ,576 6,130 240 98.368 51.120 4,979 1,231 1,263 5,472 240 102.620 150,984 166,925 Support eMts Financc Bank charge8 6,539 6,445 Gnv¢rnance eo8ty Indepcndenl examiner fees 1,073 ,020 Total re.urCeS expended 158,5C)() 174,390 Net income 21,548 22.489 Tliis page does not forni part of the statutory financial statements Page 11