INSTITUTE OF HOSPITALITY

Company limited by guarantee

Company Registration Number:
00474810 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

INSTITUTE OF HOSPITALITY

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

INSTITUTE OF HOSPITALITY

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The Charity's principal activities in the pursuit of the objectives are: The development of qualifications in the hospitality, tourism and leisure sectors The provision of information services and the undertaking of research, dissemination and publication of information which is of interest and concern both to the membership of the Institute and the industry at large The validation of quality delivery of programmes of learning and study through our accreditation and endorsement standards of professional career development The validation of quality hospitality businesses through the Hospitality Assured standard which supports and recognises best practice in the industry The provision of services to members including membership benefits and networking opportunities All these activities provide the opportunity to retain and extend the Institute’s network of members and in undertaking these activities, the Institute also provides a benefit to the wider community. Through the development and ongoing maintenance of the qualifications framework the Institute has increased educational choice and career progression opportunities for those engaged in the increasingly important hospitality, tourism, and leisure sector, which employs more than three million people in the UK, and countless millions globally. As a result of establishing and growing this unique knowledge base, the Institute can provide information and advice to key bodies in the public domain and is called upon frequently to participate in a wide variety of public forums where it can influence policy decisions on matters affecting the wider industry. As a body committed to research and the dissemination of knowledge and best practice, the Institute and its membership are in an excellent position to raise awareness of key issues which impact on the public. These include, but are not limited to, matters relating to the environment, food safety, health and safety, security, and employee engagement. Finally, in its role as an accrediting body, recognising excellence in both educational institutions and commercial enterprises through the Accreditation, Endorsement and Hospitality Assured quality standards, the Institute continues to drive up standards within the sector and thereby benefit the public at large as consumers of these services. The Trustees confirm that they have complied with their duty to have due regard to the Charity Commission’s general guidance on public benefit. The Trustees have referred to this guidance when reviewing the Institute’s aims and objectives, and in planning the future activities of the Charity.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Kellie Rixon
Debra Adams
Mark Ashton
Peter Avis
Brenda Collin
Tim Cookson
Paul Gilley
Belinda Nwuso
Wendy Sutherland


The director shown below has held office during the period of
1 January 2023 to 20 February 2023

Rachael Stevens


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 August 2024

And signed on behalf of the board by:
Name: Kellie Rixon
Status: Director

INSTITUTE OF HOSPITALITY

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 1,230,000 1,098,000
Cost of sales: ( 1,107,000 ) ( 1,428,000 )
Gross profit(or loss): 123,000 (330,000)
Distribution costs: 0 0
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): 123,000 (330,000)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 123,000 (330,000)
Tax: 0 0
Profit(or loss) for the financial year: 123,000 (330,000)

INSTITUTE OF HOSPITALITY

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 55,000 58,000
Investments:   0 0
Total fixed assets: 55,000 58,000
Current assets
Stocks: 4 4,000 3,000
Debtors: 5 143,000 178,000
Cash at bank and in hand: 713,000 579,000
Investments:   0 0
Total current assets: 860,000 760,000
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 527,000 ) ( 467,000 )
Net current assets (liabilities): 333,000 293,000
Total assets less current liabilities: 388,000 351,000
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 388,000 351,000
Members' funds
Profit and loss account: 388,000 351,000
Total members' funds: 388,000 351,000

The notes form part of these financial statements

INSTITUTE OF HOSPITALITY

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 22 August 2024
and signed on behalf of the board by:

Name: Kellie Rixon
Status: Director

The notes form part of these financial statements

INSTITUTE OF HOSPITALITY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

INSTITUTE OF HOSPITALITY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 16 15

INSTITUTE OF HOSPITALITY

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 0 226,000 0 0 226,000
Additions 0 17,000 17,000
Disposals 0 0
Revaluations
Transfers
At 31 December 2023 0 243,000 0 0 243,000
Depreciation
At 1 January 2023 0 168,000 0 0 168,000
Charge for year 20,000 0 0 20,000
On disposals
Other adjustments
At 31 December 2023 0 188,000 0 0 188,000
Net book value
At 31 December 2023 0 55,000 0 0 55,000
At 31 December 2022 0 58,000 0 0 58,000

INSTITUTE OF HOSPITALITY

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Stocks

2023 2022
£ £
Stocks 4,000 3,000
Payments on account 0 0
Total 4,000 3,000

INSTITUTE OF HOSPITALITY

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 79,000 145,000
Prepayments and accrued income 64,000 33,000
Other debtors 0 0
Total 143,000 178,000

INSTITUTE OF HOSPITALITY

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0
Trade creditors 37,000 28,000
Taxation and social security 7,000 5,000
Accruals and deferred income 445,000 412,000
Other creditors 38,000 22,000
Total 527,000 467,000