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REGISTERED NUMBER: 01064239 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

INSTITUTE OF HIGHWAY ENGINEERS

INSTITUTE OF HIGHWAY ENGINEERS (REGISTERED NUMBER: 01064239) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| INSTITUTE OF HIGHWAY ENGINEERS |

COMPANY INFORMATION

for the year ended 31 December 2024

| DIRECTORS: | D Capes

| P J Dipper

| J Fermilian

| K Kelly

| G Mallin

| G Neill

| M Polland

| R Bollen

| A Brown

| P Evans

| A J Gollop

| J Hornsby

| S A Rooney

| S Motamedi

| K Draper

| A Cole

| O Samways

| P Claytonsmith

| C Bowley

| G H Din

| SECRETARY: | W L Andrew

| REGISTERED OFFICE: | 4 Devonshire Street

| London

| W1W 5DX

| REGISTERED NUMBER: | 01064239 (England and Wales)

| AUDITORS: | Magma Audit LLP

| Chartered Accountants

| Statutory Auditor

| Magma House, 16 Davy Court

| Castle Mound Way

| Rugby

| CV23 0UZ

INSTITUTE OF HIGHWAY ENGINEERS (REGISTERED NUMBER: 01064239) |

BALANCE SHEET

31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 884 |  | 7,353 |  |

Investments | 5 | 16,650 |  | 17,617 |  |

17,534 |  | 24,970 |  |

CURRENT ASSETS

Debtors | 6 | 433,937 |  | 452,545 |  |

Cash at bank | 736,975 |  | 770,673 |  |

1,170,912 |  | 1,223,218 |  |

CREDITORS

Amounts falling due within one year | 7 | (575,286 | ) | (586,528 | ) |

NET CURRENT ASSETS | 595,626 |  | 636,690 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 613,160 |  | 661,660 |  |

PROVISIONS FOR LIABILITIES | - |  | (1,878 | ) |

NET ASSETS | 613,160 |  | 659,782 |  |

RESERVES

Income and expenditure account | 613,160 |  | 659,782 |  |

613,160 |  | 659,782 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

R Bollen - Director

INSTITUTE OF HIGHWAY ENGINEERS (REGISTERED NUMBER: 01064239) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

1. | STATUTORY INFORMATION

| Institute of Highway Engineers is a company limited by guarantee, limited company registered in England and Wales. Its registered office is 4 Devonshire Street, London, W1W 5DX and the registered number is 01064239.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| The company's functional currency and presentational currency is Sterling (£). The financial statements have been rounded to the nearest £1.

| Turnover

| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover is derived from two primary sources, membership subscriptions and conference and course income.

| - Membership subscriptions are accounted for by reference to the year of membership.

| - Conference and course income is recognised when an event takes place

| The company has received funding in the form of grants relating to course development. The grant funding is released to the profit and loss account in full in the year the conditions of the grant funding have been met.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

| Depreciation is provided on the following basis:

| Fixtures and fittings |  | - |  | 25% on cost |  |

| Computer equipment |  | - |  | 33.33% on cost |  |

| Gains and losses on disposal are determined by comparing proceeds with the carrying amount and recognised in the profit and loss account.

| Fixed Asset Investments

| Investments are included in the financial statements at fair value. The profit and loss account includes net gains and losses arising on revaluation and disposals throughout the year.

| Financial instruments

| (i) Financial assets

| Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at

| transaction price, 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.

| Such assets are subsequently carried at amortised cost using the effective interest rate method.

INSTITUTE OF HIGHWAY ENGINEERS (REGISTERED NUMBER: 01064239) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other creditors 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.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Taxation

| The tax expense for the year comprises current and deferred tax.

| Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Operating leases

| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Retained earnings

| Retained earnings are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the company and which have not been designated for other purposes.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 28 (2023 - 28 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 342 |  | 24,826 |  | 25,168 |  |

| DEPRECIATION

| At 1 January 2024 | 342 |  | 17,473 |  | 17,815 |  |

| Charge for year | - |  | 6,469 |  | 6,469 |  |

| At 31 December 2024 | 342 |  | 23,942 |  | 24,284 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | 884 |  | 884 |  |

| At 31 December 2023 | - |  | 7,353 |  | 7,353 |  |

INSTITUTE OF HIGHWAY ENGINEERS (REGISTERED NUMBER: 01064239) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 January 2024 | 17,617 |  |

| Revaluations | (967 | ) |

| At 31 December 2024 | 16,650 |  |

| NET BOOK VALUE

| At 31 December 2024 | 16,650 |  |

| At 31 December 2023 | 17,617 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 387,428 |  | 393,907 |  |

| Other debtors | 19,716 |  | 16,017 |  |

| Tax | - |  | 15,340 |  |

| VAT | 13,683 |  | 14,951 |  |

| Prepayments | 13,110 |  | 12,330 |  |

433,937 |  | 452,545 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade creditors | 19,310 |  | 29,528 |  |

| Social security and other taxes | 9,211 |  | - |  |

| Other creditors | 50,115 |  | 67,526 |  |

| Accruals and deferred income | 496,650 |  | 489,474 |  |

575,286 |  | 586,528 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 | 2023 |

£ | £ |

| Within one year | 98,484 |  | 97,078 |  |

| Between one and five years | 22,050 |  | 22,086 |  |

120,534 |  | 119,164 |  |

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Victoria Craig (Senior Statutory Auditor)

| for and on behalf of Magma Audit LLP

10. | COMPANY LIMITED BY GUARANTEE

| Institute of Highway Engineers is a company limited by guarantee. This guarantee extends to all members of the company. Each member's liability is limited to a maximum of £1.