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 2017 and year ended 31 December 2016 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 2017 and 2016 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 2016 and 31 December 2017 Depreciation
At 31 December 2016 and 31 December 2017 Net book value
At 31 December 2016 and 31 December 2017 3. Debtors
2017 £
Trade Debtors
Advertising debtors Subscriptions overdue Buyers Guide debtors Conference fees debtors
Provision against bad and doubtful debts Other debtors
4,872 3,378 340 705
9,295 -
9,295 2,489 11,784
4. Creditors: Amounts falling due within one year
2017 £
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 2017 corporation tax losses carried forward totalled £123,513.
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:
3,905
2016 £
9,635
4,810 809 725
3,856 10,200 -
10,200 682
10,882
2016 £
788 788 -
President's regalia £
General Secretary and office expenses General Secretary Mileage
3,085 11,568 1,218
BRANCH INCOME AND EXPENDITURE ACCOUNTS YEAR ENDED 31 DECEMBER 2017
Main NW Sheffield
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
Bad and doubtful debts Mileage
Exchange rate difference Total Expenses
NET SURPLUS/ (DEFICIT) FOR THE PERIOD
July 2018 Issue ENGINEER THE REFRACTORIES 178 600
2,500 700
1,218 303 45,052 6,974 6,049 (6,049) - - - - 16,510 (861) - - 353 550 1,665 312 511 600 (6,049) 5,449 541
11,568 850
6,049
2,574 212
569 12,253 246 23,859
17,031 25,495 1,650 5,077 2,015
758 497 14,744 408
17,528 25,495 1,650 19,821 2,015 408 758 - -
52,026 - - - 15,649 - 67,675
- - -
£ £ Stoke Australia
Cons.Adj Total £ £ £ £
23,859 - - -
550 1,665 312
3,085 812
569 17,702 787
11,568 850
- -
178 953
2,500 700
1,218 303
67,611 64
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