Summary statement of financial activities for the year ended 30 June 2008
|
|
|
2008
£'000 |
2007
£'000 |
Incoming resources |
Charitable activities
|
|
To advance the management and development of people through:
|
|
|
|
Education and membership services |
16,367 |
15,332 |
|
Research, innovation and dissemination of expertise |
109 |
57 |
|
Branches |
1,539 |
1,320 |
Generating funds |
|
Commercial income |
20,315 |
17,464 |
|
Investment income
|
1,107 |
1,072 |
|
|
|
|
|
|
Total incoming resources |
39,437 |
35,245 |
|
|
Resources expended |
Charitable activities |
| |
To advance the management and development of people through: |
|
|
| |
Education and membership services |
(10,085)
|
(8,734)
|
| |
Research, innovation and dissemination of expertise |
(6,638)
|
(5,772)
|
| |
Branches |
(4,163)
|
(3,393)
|
Cost of generating funds |
|
Commercial expenditure |
(17,378) |
(15,227) |
| |
Investment management costs |
(53) |
(75) |
Governance costs |
(195) |
(164) |
|
Total resources expended |
(38,512) |
(33,365) |
|
|
Net incoming resources |
925 |
1,880 |
|
Other recognised gains and losses |
|
| Net (losses) / gains on investment assets |
(1,086) |
1,782 |
| Actuarial (losses) / gains on pension scheme |
(4,869) |
2,591 |
|
Net movement in funds |
(5,030) |
6,253 |
|
| Fund balances brought forward |
33,894 |
27,641 |
|
|
|
|
|
|
|
|
Net fund balances carried forward |
28,864 |
33,894 |
|
Summary balance sheet at 30 June 2008
|
|
|
|
2008
£'000 |
2007
£'000 |
Fixed assets |
| Tangible assets |
11,832 |
12,262 |
| Investments |
20,095 |
18,403 |
|
|
|
31,927 |
30,665 |
|
Current assets |
| Stocks of goods for resale |
284 |
652 |
| Debtors |
5,277 |
4,840 |
| Cash at bank and in hand |
11,393 |
12,730 |
|
|
|
16,954 |
18,222 |
Creditors |
| Amounts falling due within one year |
(12,965) |
(12,930) |
|
Net current assets |
3,989 |
5,292 |
|
|
| Net assets excluding pension liability |
35,916 |
35,957 |
|
|
| Defined benefit pension scheme liability |
(7,052) |
(2,063) |
|
Net assets |
28,864 |
33,894 |
|
Funds |
| General fund |
31,541 |
31,408 |
| Pension liability |
(7,052) |
(2,063) |
|
Net general fund |
24,489 |
29,345 |
|
|
Designated funds:
|
|
Building fund |
1,355 |
1,485 |
|
Information technology fund |
436 |
789 |
|
New learning fund |
575 |
325 |
|
Research and development fund |
665 |
764 |
|
Strategic initiatives fund |
1,344 |
1,186 |
|
Total designated funds |
4,375 |
4,549 |
|
Total funds (all unrestricted) |
28,864 |
33,894 |
|
Summary statement of cash flows
|
|
|
2008
£'000 |
2007
£'000 |
|
| Net cash inflow from operating activities |
558 |
416 |
| Returns on investments |
1,093 |
1,057 |
| Capital expenditure and financial investment |
(2,988) |
(1,091) |
|
(Decrease) / increase in net funds |
(1,337) |
382 |
|
| Movement in funds placed on long term deposit |
(1,470) |
670 |
| Increase / (decrease) in cash and bank |
133 |
(288) |
|
|
The summary financial statements were approved by the
directors on 15 September 2008 and signed on their behalf by
Vicky Wright, President, and Chris Garcia, Honorary Treasurer. |
Summary directors' report
The CIPD is established to advance the art and science of the management and development of people for the public benefit. It is the leading professional body in the United Kingdom and Republic of Ireland for all those specialising in the management and development of people.
The document in which this summary report is published contains an overview of the Institute’s key activities and achievements during the year, including: membership growth; new research, guidance and online resources for our members and the wider public; a greater profile and impact for our research and other work; and our contribution to public policy.
This financial statement and directors’ report gives a summary of the information contained in the directors’ report and financial statements for the year ended 30 June 2008. The full statutory report and financial statements have been prepared in accordance with the Statement of Recommended Practice ‘Accounting and reporting by charities’ (SORP 2005). The report and financial statements were approved by the directors on 15 September 2008, have been audited and received an unqualified audit report and will be sent to the Charity Commissioners.
The summary financial statement is not the Institute’s statutory accounts. For a full understanding of the results of the group you can access the annual review, statutory directors’ report and financial statements on the web at www.cipd.co.uk/annualreport or obtain a hard copy from the enquiry team on 020 8612 6210 or annualreport@cipd.co.uk
By order of the Board
Kristina Ingate
Secretary
15 September 2008
Independent auditors' statement to the members of
the Chartered Institute of Personnel and Development
We have examined the summarised financial statements of the Chartered Institute of Personnel and Development. This statement is made solely for its members and to the fullest extent permitted by law we do not accept or assume responsibility to anyone other than its members for this statement.
Respective responsibilities of the Directors and Auditors
The Directors are responsible for preparing the summarised annual report in accordance with the applicable law. Our responsibility is to report to you our opinion on the consistency of the summarised financial statements with the full financial statements. We read the other information contained within the annual report and summary financial statements and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies within the summarised financial statements.
Basis of Opinion
We conducted our work in accordance with Bulletin 1999/6 ‘The auditors’ statement on the summarised financial statement’ issued by the Auditing Practices Board for use in the United Kingdom.
Opinion
In our opinion the summarised financial statements are consistent with the full financial statements of the Chartered Institute of Personnel and Development for the year ended
30 June 2008.
GRANT THORNTON UK LLP
Chartered Accountants
Registered Auditor
Melton Street
Euston Square
London
NW1 2EP
15 September 2008