www.ireng.org UK Branches
The Institute of Refractories Engineers Draft Accounts £
All income, expenses, assets and liabilities for the UK branches for the year ended 31 December 2016 and year ended 31 December 2015 are recognised in full within the financial statements.
Australia Branch
All income, expenses, assets and liabilities for the Australian branch for the years ended 31 December 2016 and 2015 are recognised in full within the financial statements after being translated at the appropriate exchange rate.
South Africa Branch
The net contribution paid to the UK is recognised as income. No assets or liabilities of the branch are shown within the financial statements.
2. Tangible fixed assets Cost
At 31 December 2015 and 31 December 2016 Depreciation
At 31 December 2015 and 31 December 2016 Net book value
At 31 December 2015 and 31 December 2016 3. Debtors
2016 £
Trade Debtors
Advertising debtors Subscriptions overdue Buyers Guide debtors Conference fees debtors
Provision against bad and doubtful debts Other debtors
4,810 809 725
3,856 10,200 -
10,200 682
10,882 4. Creditors: Amounts falling due within one year
2016 £
Creditors and accrued charges 5. Contributions in the event of a winding up
Every member of the Institute undertakes to contribute to the assets of the Institute in the event of its being wound up. This applies while he is a member or within one year afterwards for payment of the debts and liabilities of the Institute contracted before he ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of rights of the contribution amongst themselves such amount as may be required not exceeding one year's annual subscription.
6. Taxation
The Institute's mutual income (subscriptions and conference fees) is not chargeable to corporation tax.
No tax charge arose on the remaining income in the year and as at 31 December 2016 corporation tax losses carried forward totalled £121,198.
7. Related party transactions
The related parties are the members of The Institute of Refractories Engineers. During the year the following expenses will have been paid to members:
9,635
2015 £
7,041
9,322 1,507 1,135 44
12,008 -
12,008 1,913
13,921
2015 £
788 788 -
President's regalia £
8.
General Secretary and office expneses General Secretary Mileage
First time adoption of FRS 102
The policies app under the entity's previous accounting framework are not materially different from FRS 102 and have not impacted on equity or profit or loss.
BRANCH INCOME AND EXPENDITURE ACCOUNTS 2016 Main
Institute Branch £
INCOME
Subscriptions and entrance fees
Journal advertising E-directory
Conference fees Training
Bank interest received Publishers Licence Fees Branch social fund raising Dinner Dance Total Income
EXPENSES Meeting expenses
National Dinner Dance Branch social events Journal
Journal printing and distribution
Journal E-Directory Editorial costs
Other expenses Telephone
Computer expenses
Printing, stationery and postage
General Secretary and office expenses
Insurance
Payments/Grants to branches
Conference and exhibition costs
Credit card and bank charges
General Secretary Presidents honoraria
Branch Secretaries' honoraria
Marketing costs Training
Accountancy support fees
Audit & accountancy fees
6,970 579
11,568 425
100 2,138 464 1,632 461 73 601 65
1,559 332
2,139 1,268 (2,139) 34,537
19,198 37,044 2,679 8,725 2,390 35
1,167 71,238 424 7,776 115
6,110 2,804 8,914
1,716 (2,139) 883 731
18,775 37,044 2,679 9,608 2,390 766
- - 3,330 (2,139)
1,167 6,110 2,804 81,343
424 -
7,891
NW Sheffield £
£ £
Stoke Australia
Cons.Adj Total £
£ 1,697
11,568 2,033
£
34,537 - -
464 1,632 461
1,697 933
- 8,238 579
11,568 425
100
2,138 -
150 2,000
Bad and doubtful debts 4,023 Mileage
1,508
Exchange rate difference Total Expenses
NET SURPLUS/(DEFICIT) FOR THE PERIOD
67,653 3,585 July 2017 Issue ENGINEER THE REFRACTORIES 7,776 1,138 - - 180 (180)
(6,345) (716)
4,046 (2,139) - 331 150
2,331 4,023 1,508
(6,345) 72,754
8,589
7
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