REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ENGINEERING INTEGRITY SOCIETY |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ENGINEERING INTEGRITY SOCIETY |
(A COMPANY LIMITED BY GUARANTEE) |
ENGINEERING INTEGRITY SOCIETY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 13 |
ENGINEERING INTEGRITY SOCIETY (REGISTERED NUMBER: 01959979) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's objective and principal activity is to provide a forum for engineers, technicians and materials specialists to discuss and assess technological developments and their practical application to measurement techniques and structural integrity and noise, vibration and human characteristics of components, sub assemblies and complete products. |
Public benefit |
The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission. |
The Society provides a forum for the interchange of ideas and information for practising engineers and engineering researchers, as well as a journal containing technical papers, topical discussion pieces and news, and regular events. |
ACHIEVEMENT AND PERFORMANCE |
Summary of Main Achievements During The Year |
The Directors are pleased to report that the EIS has made excellent progress this year in rebuilding its portfolio of activities and has strengthened its financial position. The Annual Report records in detail that we state a net surplus of £23,352 and total funds of £178,719 at the year end, whilst maintaining our charitable activities. We also note that there have been several changes to the Board of Directors. Sadly, we lost Norman Thornton in October and he will be greatly missed as a longstanding and active member and Director of the EIS. In June, Nick Richardson retired as a Director and we thank him for his long service to the Society. In February we were pleased to welcome Connor Bligh as a Director and we look forward to working with him as we plan for the future of the Society. |
The financial position of the Society has benefited from running the Instrumentation, Analysis and Testing Exhibition twice in this reporting period as this suited both our workload plans and the availability of the facilities at Silverstone. Both exhibitions were a great success with space selling out well in advance. There were good attendance figures for both events and high satisfaction from exhibitors and attendees. In view of the demand from existing and potential future exhibitors the Directors have reviewed alternative facilities at Silverstone and plan to offer a larger event in April 2025. |
We are extremely grateful to our Corporate Members for their support both in terms of their membership subscriptions and their willingness to allow staff to spend time on EIS activities. The list of EIS events is recorded in Note 12 of the Accounts and it is pleasing to note the increase in successful seminars compared with recent years. |
We have maintained our portfolio of charitable activities with a free webinar, Young Engineers events, sponsorship of the University of Wolverhampton student motor racing activities, our Journal, newsletters and social media communications, and the Peter Watson Prize. The Peter Watson Prize was again held at Kilworth House in November with very strong entries from a wide range of Universities and companies. We hope that many of these young engineers will join us in Cambridge for Fatigue 2024. |
The Directors continue to monitor the Society's structures, plans and financial commitments closely. Our financial reserves have enabled us to emerge from the challenging times in recent years in a good position to run our major international conference in Cambridge in June 2024. We anticipate being able to report on a successful event in the next annual accounts as well as an increased range of seminars and charitable activities. |
In summary, the EIS has had a successful year, both in terms of meeting its charitable aims and delivering an increased portfolio of events, and we look forward building on this position in 2024/25. |
FINANCIAL REVIEW |
Financial position |
The Society's financial position is recorded in detail in this Annual Report An amount of £90,385 has been carried forward to the new financial year as deferred income. This mainly comprises credits for Fatigue 2024.. |
Our capital reserves have allowed us to maintain the society's charitable activities through this difficult period. |
In summary, our current income and reserves are sufficient to maintain our planned activities. It is the Trustees' intention to maintain this position whilst growing the numbers of engineers who engage with the Society as members, delegates and presenters. |
ENGINEERING INTEGRITY SOCIETY (REGISTERED NUMBER: 01959979) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FINANCIAL REVIEW |
Reserves policy |
The Trustees have ensured that all cash reserves, apart from those required for the day to day operation of the company, are held in an interest bearing account, and that the company aims to have a free reserve to cover costs associated with any future events. |
Our financial strategy of building reserves provides the Society with the resilience to promote engineering to young people and support them in their professional development during the politically and financially uncertain times ahead. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Directors are a subset of Trustees. Trustees are all members of the council and their nomination must be approved by council members. They must be nominated and seconded by the membership. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
ENGINEERING INTEGRITY SOCIETY (REGISTERED NUMBER: 01959979) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Trustees |
Dr H Cockings |
C Bligh (appointed 29/6/23) |
A E Chahardehi (appointed 29/6/23) |
All elected Council members of the Society are trustees of the Society. Of the trustees, the following are also directors of the charity for the purposes of the Companies Act 2006:- |
J R Yates |
G Hemmings |
E R Cawte |
N W Thornton - deceased 31.10.2023 |
N J Richardson - resigned 29.06.2023 |
P Bailey |
A T O'Neill |
D G Fish |
J Shenton |
C Bligh - appointed 23.02.2024 |
Company Secretary |
Independent Examiner |
Hollis and Co Limited |
Chartered Accountants |
35 Wilkinson Street |
Sheffield |
South Yorkshire |
S10 2GB |
ENGINEERING INTEGRITY SOCIETY (REGISTERED NUMBER: 01959979) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ENGINEERING INTEGRITY SOCIETY |
Independent examiner's report to the trustees of Engineering Integrity Society ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Peter Hollis |
Hollis and Co Limited |
Chartered Accountants |
35 Wilkinson Street |
Sheffield |
South Yorkshire |
S10 2GB |
1 October 2024 |
ENGINEERING INTEGRITY SOCIETY |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 155,367 |
ENGINEERING INTEGRITY SOCIETY (REGISTERED NUMBER: 01959979) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 155,367 |
TOTAL FUNDS | 155,367 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
ENGINEERING INTEGRITY SOCIETY (REGISTERED NUMBER: 01959979) |
BALANCE SHEET - continued |
31 MARCH 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ENGINEERING INTEGRITY SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Allocation and apportionment of costs |
Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity and related activities. This includes cost of office services, audit and professional fees. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Office equipment | - |
Computer equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
2. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Interest receivable | 2,618 | 1,343 |
ENGINEERING INTEGRITY SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
Expenses totalling £nil (2023 £107.10) were reimbursed to officers of the Society during the year. These officers comprise trustees and committee members who have retired from active employment but remain active as committee members. |
5. | STAFF COSTS |
The Society does not employ any staff. |
An individual under a contract for services, the costs of which were as follows, managed administration on a day to day basis: |
2024 2023 |
£ £ |
Marketing and Event Services costs for the year 48,725 30,295 |
(including administration and conference costs) |
6. | INDEMNITY INSURANCE |
The Society has taken out insurance to indemnify officers and trustees against any potential neglect or default for an annual limit of £500,000, including costs and expenses, which is renewed on a rolling basis each year on 9 June. |
ENGINEERING INTEGRITY SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | TANGIBLE FIXED ASSETS |
Office | Computer |
equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
VAT | 5,483 | 784 |
Accrued expenses |
Deferred income | 90,385 | 26,665 |
Debtor credit balances | 1,847 | - |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/23 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 155,367 | 23,352 | 178,719 |
TOTAL FUNDS | 23,352 | 178,719 |
ENGINEERING INTEGRITY SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 117,947 | (94,595 | ) | 23,352 |
TOTAL FUNDS | ( |
) | 23,352 |
Comparatives for movement in funds |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 158,825 | (3,458 | ) | 155,367 |
TOTAL FUNDS | 158,825 | (3,458 | ) | 155,367 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 59,659 | (63,117 | ) | (3,458 | ) |
TOTAL FUNDS | 59,659 | (63,117 | ) | (3,458 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 158,825 | 19,894 | 178,719 |
TOTAL FUNDS | 158,825 | 19,894 | 178,719 |
ENGINEERING INTEGRITY SOCIETY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 177,606 | (157,712 | ) | 19,894 |
TOTAL FUNDS | 177,606 | (157,712 | ) | 19,894 |
11. | RELATED PARTY DISCLOSURES |
12. | CONFERENCES AND EXHIBITIONS |
Title |
Gross Income |
Expenses |
Net Income |
£ | £ | £ |
Seminar: Net Zero Powertrain Engineering | 27.04.2023 | 1,890.50 | 2,147.59 | (257.09 | ) |
Exhibition: Instrumentation 2023 | 16.05.2023 | 34,647.68 | 18,018.28 | 16,629.40 |
Webinar: Force Measurement | 05.07.2023 | 0.00 | 49.50 | 49.50 |
Seminar: Latest Innovations in Battery Design |
18.07.2023 |
2,102.50 |
1,131.31 |
971.19 |
Seminar: Bolted Joints | 08.02.2024 | 4,937.50 | 2,725.86 | 2,211.64 |
Seminar: Fundamentals of Data Collection | 27.02.2024 | 2,985.00 | 831.83 | 2,153.17 |
Exhibition: Instrumentation 2024 | 26.03.2024 | 43,749.00 | 22,029.81 | 21,719.19 |
Advanced Engineering 2023 | 0.00 | 1,619.86 | (1,619.86 | ) |
Young Engineers Seminars | 0.00 | 386.00 | (386.00 | ) |
Peter Watson Prize | 0.00 | 1,197.28 | (1,197.28 | ) |
90,312.18 | 50,137.32 | 40,174.86 |