Summarised Accounts


Institution of Mechanical Engineers

 

Summarised Accounts

 

The Summarised Accounts are extracted from the audited Annual Accounts which were approved by the Trustee Board on 19 March 2008. The report of the auditors on the Annual Accounts was unqualified. The Summarised Accounts do not contain sufficient information to allow for a full understanding of the financial affairs of the Institution. A copy of the full Trustees’ Report and Annual Accounts can be obtained from the Trustee Office on 020 7973 1311.  A copy of the Trustees’ Report and Annual Accounts will be submitted to the Charity Commission in due course.  The Summarised Accounts were approved by the Trustee Board on 19 March 2008 and were signed on its behalf by John Baxter, President, Institution of Mechanical Engineers.

 

Summarised Consolidated Statement of Financial Activities

For the year ended 31 December 2007

 

 

2007

 

2006

 

 

 

 

 

£000s

 

£000s

Income

 

 

 

Publishing

7,868

 

7,335

Membership Subscriptions

6,658

 

5,814

Technical

1,885

 

1,691

Interest & Dividends & Room Hire

2,065

 

2,198

Professional Development & Membership

317

 

264

Sundry

130

 

192

Total Incoming Resources

18,923

 

17,494

 

 

 

 

Expenditure

 

 

 

Publishing

5,824

 

5,670

Technical

3,752

 

3,300

Interest & Dividends & Room Hire

621

 

642

Regional Activities & Marketing

3,130

 

2,856

Professional Development & Membership

1,895

 

1,564

Library & Facilities at Birdcage Walk

1,182

 

1,107

Prizes, Awards & Scholarships

636

 

653

Governance Costs

307

 

326

Membership Subscriptions

168

 

142

Total Resources Expended

17,515

 

16,260

 

 

 

 

Net Income on Activities

1,408

 

1,234

 

 

 

 

Pension Costs

2,140

 

2,415

Gains on Investments

352

 

1,820

Net Movement in Funds

3,900

 

5,469

 

 

Summarised Consolidated Balance Sheet

At 31 December 2007

 

 

2007

 

2006

 

 

 

 

 

£000s

 

£000s

 

 

 

 

Fixed Assets

 

 

 

Tangible Assets

2,362

 

2,314

Investments

18,359

 

18,006

 

20,721

 

20,320

 

 

 

 

Current Assets

6,347

 

3,154

 

 

 

 

Current Liabilities

(7,648)

 

(5,625)

 

 

 

 

Pension Scheme Asset/(Liability)

545

 

(1,784)

 

 

 

 

Net Assets

19,965

 

16,065