Company registration number 00076803 (England and Wales)
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
COMPANY INFORMATION
Directors
Mr Ian Carey FICWCI
Mr Paul Coward FICWCI
Mr Charles Lowrie FICWCI
Mr Alex Mabbott FICWCI
Mr Ronald Philpot MICWCI - Treasurer
Mr Mark Read MICWCI
Mr Paul Reid MICWCI
Mr Jeremy Shoolbred FICWCI - President
Mr Joel Trimby MICWCI
(Appointed 20 May 2023)
Mr Scott O'Connell MICWCI
(Appointed 20 May 2023)
Secretary
Mrs R Morris
Company number
00076803
Registered office
Equinox, 28 Commerce Road
Peterborough Business Park
Lynchwood
Peterborough
United Kingdom
PE2 6LR
Auditor
Azets Audit Services
Westpoint
Lynch Wood
Peterborough
Cambridgeshire
United Kingdom
PE2 6FZ
Business address
Equinox, 28 Commerce Road
Peterborough Business Park
Lynchwood
Peterborough
United Kingdom
PE2 6LR
Bankers
Barclays Bank PLC
1 Church Street
Peterborough
Cambridgeshire
United Kingdom
PE1 1XB
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Income and expenditure account
6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 16
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities
The principal activity of the Institute is the promotion of the professional, technical and academic development of Clerks of Works.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr Dermot Russell FICWCI - President
(Resigned 20 May 2023)
Mr Ian Carey FICWCI
Mr Paul Coward FICWCI
Mr Charles Lowrie FICWCI
Mr Alex Mabbott FICWCI
Mr Ronald Philpot MICWCI - Treasurer
Mr Mark Read MICWCI
Mr Paul Reid MICWCI
Mr John Ruddell FICWCI
(Resigned 20 May 2023)
Mr Jeremy Shoolbred FICWCI - President
Mr Joel Trimby MICWCI
(Appointed 20 May 2023)
Mr Scott O'Connell MICWCI
(Appointed 20 May 2023)
Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr Ronald Philpot MICWCI - Treasurer
Director
6 March 2024
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

The directors are responsible for preparing the Strategic Report, Directors' Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

 

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
- 3 -
Opinion

We have audited the financial statements of Institute of Clerks of Works and Construction Inspectorate of Great Britain Incorporated (the 'company') for the year ended 31 December 2023 which comprise the income and expenditure account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
- 5 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tracey Richardson BSc (Hons) FCA
Senior Statutory Auditor
For and on behalf of Azets Audit Services
12 March 2024
Chartered Accountants
Statutory Auditor
Westpoint
Lynch Wood
Peterborough
Cambridgeshire
United Kingdom
PE2 6FZ
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
2023
2022
Notes
£
£
Income
326,802
285,645
Cost of sales
(49,893)
(63,821)
Gross surplus
276,909
221,824
Administrative expenses
(259,082)
(211,781)
Other operating income
21,000
104,000
Operating surplus
3
38,827
114,043
Other interest receivable and similar income
4,676
2,579
Interest payable and similar expenses
(1,678)
(1,662)
Amounts written off investments
8,280
(2,910)
Surplus before taxation
50,105
112,050
Tax on surplus
5
(4,009)
(18,006)
Surplus for the financial year
46,096
94,044

The income and expenditure account has been prepared on the basis that all operations are continuing operations.

INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
2023
2022
£
£
Surplus for the year
46,096
94,044
Other comprehensive income
Revaluation of investments
-
0
(9,738)
Total comprehensive income for the year
46,096
84,306
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 8 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
6
292,318
293,307
Investment properties
7
307,000
307,000
Investments
8
129,041
122,535
728,359
722,842
Current assets
Stocks
2,601
6,262
Debtors
9
33,310
21,443
Investments
10
14,851
12,179
Cash at bank and in hand
205,505
170,616
256,267
210,500
Creditors: amounts falling due within one year
11
(90,386)
(85,198)
Net current assets
165,881
125,302
Total assets less current liabilities
894,240
848,144
Provisions for liabilities
(14,322)
(14,322)
Net assets
879,918
833,822
Reserves
879,918
833,822

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 March 2024 and are signed on its behalf by:
Mr Ronald Philpot MICWCI - Treasurer
Director
Company Registration No. 00076803
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
Building fund
Prize fund
Investment property revaluation reserve
Investments revaluation reserve
General fund
Total
£
£
£
£
£
Balance at 1 January 2022
9,439
6,005
(25,711)
9,738
750,045
749,516
Year ended 31 December 2022:
Profit for the year
-
(125)
68,678
(2,910)
28,401
94,044
Other comprehensive income:
Revaluation of investments
-
-
-
(9,738)
-
(9,738)
Total comprehensive income for the year
-
0
(125)
68,678
(12,648)
28,401
84,306
Balance at 31 December 2022
9,439
5,880
42,967
(2,910)
778,446
833,822
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
(125)
-
6,506
39,715
46,096
Balance at 31 December 2023
9,439
5,755
42,967
3,596
818,161
879,918
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
1
Accounting policies
Company information

Institute of Clerks of Works and Construction Inspectorate of Great Britain Incorporated is a private company limited by guarantee incorporated in England and Wales. The registered office is Equinox, 28 Commerce Road, Peterborough Business Park, Lynchwood, Peterborough, United Kingdom, PE2 6LR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

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

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Income and expenditure

Income represents amounts receivable for subscriptions and advertising net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land and buildings
Nil
Fixtures, fittings & equipment
15% and 25% straight line

 

The freehold property is not subject to a charge for depreciation on the basis that it would be immaterial. This is because the estimated residual value of the property is not materially different from the carrying value.

 

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 credited or charged to surplus or deficit.

1.5
Investment properties

Fixed asset investments are stated at cost less provision for diminution in value.

 

The investment property is stated at market value. Depreciation is not provided for on freehold investment property. This policy has been adopted as the directors believe it to be more appropriate to show a true and fair view. This is a departure from the Companies Act, which requires that depreciation be provided for on all fixed assets with a limited useful economic life.

 

Current asset investments are stated at the lower of cost and net realisable value.

INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 11 -
1.6
Fixed asset investments

Fixed asset investments are composed of quoted securities and held in a fund that is managed by an independent investment advisor.

 

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stock is valued at the lower of cost and net realisable value.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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 company 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 company's balance sheet when the company 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 12 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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 business 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.

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors 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
Operating surplus
2023
2022
Operating surplus for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
6,600
6,050
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 13 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
5
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
4,009
3,684
Deferred tax
Origination and reversal of timing differences
-
0
14,322
Total tax charge
4,009
18,006
6
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
290,467
38,178
328,645
Depreciation and impairment
At 1 January 2023
-
0
35,338
35,338
Depreciation charged in the year
-
0
989
989
At 31 December 2023
-
0
36,327
36,327
Carrying amount
At 31 December 2023
290,467
1,851
292,318
At 31 December 2022
290,467
2,840
293,307
7
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
307,000
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7
Investment property
(Continued)
- 14 -

The investment property has been valued by the management board on a comparable basis with similar properties in the area.

8
Fixed asset investments
2023
2022
£
£
Other investments other than loans
129,041
122,535
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2023
122,535
Additions
48,096
Valuation changes
17,539
Disposals
(59,129)
At 31 December 2023
129,041
Carrying amount
At 31 December 2023
129,041
At 31 December 2022
122,535
9
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
33,310
21,443
10
Current asset investments
2023
2022
£
£
Other investments
14,851
12,179
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
11
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,171
655
Corporation tax
4,009
3,684
Other taxation and social security
9,903
7,948
Other creditors
73,303
72,911
90,386
85,198
12
Members' liability

The company is limited by guarantee and does not have share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

13
Related party relationships and transactions
During the year the company received income on an arms length basis from the following related parties:
2023
2022
£
£
John Burke Associates
(Director I Carey)
798
1,087
Shoolbred Site Inspections Ltd
(Director J Shoolbred)
-
566
RW Philpot Inspection Services
(Director R Philpot)
677
922
Portsmouth City Council
(Director P Reid)
195
-
Calden Seadon
(Director M Read)
1,985
G Carr
-
566
J Ruddell
333
275
J Shoolbred
210
-
P Coward
345
-
D Russell
467
260
M Read
-
354
A Mabbott
29
-
S O'Connell
467
-
5,506
4,030
At 31 December 2023 £527 (2022 - £275) of the sales listed above remained outstanding and are included in other debtors.
The company received an administration charge of £2,000 (2022 - £2,000) during the year from a related charity, Institute of Clerks of Works of Great Britain Incorporated Benevolent Fund. At 31 December 2023 £1,448 (2022 - £760) was due to the company and is included in other debtors.
INSTITUTE OF CLERKS OF WORKS AND CONSTRUCTION INSPECTORATE OF GREAT BRITAIN INCORPORATED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
14
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
1,260
2,100
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2023
2022
£
£
9,500
30,083
15
Control

There is no one ultimate controlling party.

2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2023.300Mr Dermot Russell FICWCI - PresidentMr Ian Carey FICWCIMr Paul Coward FICWCIMr Charles Lowrie FICWCIMr Alex Mabbott FICWCIMr Ronald Philpot MICWCI - TreasurerMr Mark Read MICWCIMr Paul Reid MICWCIMr John Ruddell FICWCIMr Jeremy Shoolbred FICWCI - PresidentMr Joel Trimby MICWCIMr Scott O'Connell MICWCIMrs R Morrisfalse000768032023-01-012023-12-3100076803bus:Director22023-01-012023-12-3100076803bus:Director32023-01-012023-12-3100076803bus:Director42023-01-012023-12-3100076803bus:Director52023-01-012023-12-3100076803bus:Director62023-01-012023-12-3100076803bus:Director72023-01-012023-12-3100076803bus:Director82023-01-012023-12-3100076803bus:Director102023-01-012023-12-3100076803bus:Director112023-01-012023-12-3100076803bus:Director122023-01-012023-12-3100076803bus:CompanySecretary12023-01-012023-12-3100076803bus:Director12023-01-012023-12-3100076803bus:Director92023-01-012023-12-3100076803bus:RegisteredOffice2023-01-012023-12-3100076803bus:Agent12023-01-012023-12-31000768032023-12-31000768032022-01-012022-12-3100076803core:RevaluationReserve2023-01-012023-12-3100076803core:CapitalRedemptionReserve2022-01-012022-12-3100076803core:OtherMiscellaneousReserve2022-01-012022-12-3100076803core:RevaluationReserve2022-01-012022-12-3100076803core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31000768032022-12-3100076803core:LandBuildings2023-12-3100076803core:OtherPropertyPlantEquipment2023-12-3100076803core:LandBuildings2022-12-3100076803core:OtherPropertyPlantEquipment2022-12-3100076803core:CurrentFinancialInstruments2023-12-3100076803core:CurrentFinancialInstruments2022-12-3100076803core:CapitalRedemptionReserve2021-12-3100076803core:OtherMiscellaneousReserve2021-12-3100076803core:RetainedEarningsAccumulatedLosses2021-12-31000768032021-12-3100076803core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3100076803core:FurnitureFittings2023-01-012023-12-3100076803core:UKTax2023-01-012023-12-3100076803core:UKTax2022-01-012022-12-3100076803core:LandBuildings2022-12-3100076803core:OtherPropertyPlantEquipment2022-12-31000768032022-12-3100076803core:LandBuildings2023-01-012023-12-3100076803core:OtherPropertyPlantEquipment2023-01-012023-12-3100076803bus:CompanyLimitedByGuarantee2023-01-012023-12-3100076803bus:FRS1022023-01-012023-12-3100076803bus:Audited2023-01-012023-12-3100076803bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP