THE
REFRACTORIES ENGINEER
UK Branches
All income, expenses, assets and liabilities for the UK branches for the year ended 31 December 2018 and 2017 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 2018 and 2017 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 2017 and 31 December 2018 Depreciation
At 31 December 2017 and 31 December 2018 Net book value
At 31 December 2017 and 31 December 2018 3. Debtors
2018 £
Trade Debtors
Advertising debtors Subscriptions overdue Buyers Guide debtors Training
Conference fees debtors Other debtors 4. Cash at bank
2018 £
Main Stoke
North West Sheffield Australia
104,535 1,920 -
1,496 8,288
116,239 5. Creditors: Amounts falling due within one year
2018 £
Creditors and accrued charges 6. 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.
7. 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 2018 corporation tax losses carried forward totalled £129,755 (2017 - £123,513).
8. 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:
July 2019 Issue 5 2,811
2017 £
3,905
2017 £
115,720 1,920 -
1,496 20,597 139,733
6,017 8,903 3,286 48
2,798
21,052 1,619
22,671
4,872 3,378 340 -
705
9,295 2,489
11,784
2017 £
President's regalia £
788 788 -
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
Conference and exhibition costs
Credit card and bank charges
General Secretary Presidents honoraria
Branch Secretaries' honoraria
Marketing costs Training
Accountancy support fees
Audit and accountancy fees
22,434 - -
75 2,522 301
848 607
Payments/Grants to branches - 9,563 373 13,368 850
100 -
13 1,100 2,150
Bad and doubtful debts 8,001 Mileage
153
Exchange rate difference Total Expenses
NET SURPLUS/ (DEFICIT) FOR THE PERIOD
62,458 796 - - - - -
1,720 3,224
- (2,053) 310 96 124
663 209
102
20,336 24,811 4,863 9,652 2,990 -
602
20,336 24,811 4,863
801 370
10,453 2,990 370 602 - -
63,254 - - - 1,171 - 64,425
- - -
General Secretary and office expenses General Secretary Mileage
The Institute of Refractories Engineers Draft Accounts £ 1,511
13,368 153
BRANCH INCOME AND EXPENDITURE ACCOUNTS YEAR ENDED 31 DECEMBER 2018
Main NW Sheffield
Institute Branch £
£ £ Stoke Australia
Cons.Adj Total £ £ £ £
22,434 - -
75 2,624 301
1,511 816 -
9,659 497
13,368 850
100 -
13 1,410
2,150 8,001 153
1,720 - 65,682 - (1,257)
www.irengineers.co.uk www.ireng.org
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