THE INSTITUTION OF MECHANICAL ENGINEERS

Charity number: 206882
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

Improving the world through engineering, specifically as per the Royal Charter: The objects and purposes for which the institution is hereby constituted are to promote the development of Mechanical Engineering and to facilitate the exchange of information and ideas thereon?

Income and expenditure

Data for financial year ending 31 December 2023

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

Fundraising

No information available

Trading

This charity has one or more trading subsidiaries.

Trustee payments

One or more trustees receive payments or benefits from the charity for providing services to the charity.

What, who, how, where

What the charity does:
  • Education/training
  • Economic/community Development/employment
Who the charity helps:
  • The General Public/mankind
How the charity helps:
  • Makes Grants To Individuals
  • Makes Grants To Organisations
  • Provides Human Resources
  • Provides Buildings/facilities/open Space
  • Provides Services
  • Sponsors Or Undertakes Research
  • Acts As An Umbrella Or Resource Body
Where the charity operates:
  • Throughout England And Wales
  • Hong Kong
  • Malaysia
  • Scotland

Governance

Registration history:
  • 29 July 1963: Standard registration
Organisation type:
Other
Other names:
  • I M E C H E (Working name)
Gift aid:
Not recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Complaints handling
  • Complaints policy and procedures
  • Conflicting interests
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Safeguarding vulnerable beneficiaries
  • Trustee conflicts of interest policy and procedures
  • Trustee expenses policy and procedures
  • Volunteer management
Land and property:
This charity owns and/or leases land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

14 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Adrian Waldock Trustee 18 October 2024
None on record
Peter Lee Trustee 27 August 2024
None on record
Chanaka Wanniarachchi Trustee 27 September 2023
None on record
Darren Sharpe Trustee 23 May 2024
None on record
Christopher O'Boyle Trustee 13 February 2024
None on record
Abbey Addison Trustee 14 July 2023
None on record
Joshua Thomson-Smith Trustee 26 May 2023
None on record
Simon Evans Trustee 25 May 2023
None on record
Matthew Garside Trustee 25 May 2023
None on record
Chris Chong Trustee 25 May 2023
None on record
Ruth Shilston Trustee 25 May 2023
None on record
Clive Hickman OBE Trustee 25 May 2022
PALMER FOUNDATION
Received: On time
THE MAUDSLAY SCHOLARSHIP FOUNDATION
Received: On time
Dr Richard Charles Bartlett Judge CEng Trustee 15 June 2021
None on record
Dr David Nowell CEng Trustee 22 May 2019
None on record

Financial history

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Financial period end date

Income / Expenditure 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Total gross income £27.93m £21.93m £22.60m £28.71m £30.25m
Total expenditure £25.33m £20.98m £21.86m £28.52m £29.07m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A N/A £90.00k N/A N/A
Income - Donations and legacies £17.00k £72.00k £113.00k £21.00k £22.00k
Income - Other trading activities £10.50m £6.46m £6.35m £10.68m £10.11m
Income - Charitable activities £14.92m £13.67m £14.90m £16.79m £18.86m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £613.00k £1.33m £637.00k £701.00k £795.00k
Income - Other £1.89m £399.00k £597.00k £528.00k £465.00k
Income - Legacies £17.00k £72.00k £113.00k £21.00k £22.00k
Expenditure - Charitable activities £14.44m £13.31m £14.84m £17.16m £19.07m
Expenditure - Raising funds £10.90m £7.67m £7.03m £11.36m £10.00m
Expenditure - Governance £2.02m £441.00k £2.40m £2.70m £3.38m
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £9.00k £9.00k £10.00k £16.00k £15.00k
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Own use assets £9.83m £10.31m £9.83m £9.34m £8.75m
Long-term investments £20.19m £20.99m £22.78m £21.24m £21.29m
Other assets £9.44m £8.76m £10.63m £11.12m £13.06m
Defined benefit pension scheme asset or liability -£2.63m -£9.53m £0 £0 £0
Total liabilities £8.22m £7.16m £8.09m £8.25m £8.53m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 December 2023 24 October 2024 On Time
Accounts and TAR 31 December 2023 24 October 2024 On Time Download Open in new window
Annual return 31 December 2022 31 October 2023 On Time
Accounts and TAR 31 December 2022 31 October 2023 On Time Download Open in new window
Annual return 31 December 2021 18 August 2022 On Time
Accounts and TAR 31 December 2021 18 August 2022 On Time Download Open in new window
Annual return 31 December 2020 06 August 2021 On Time
Accounts and TAR 31 December 2020 06 August 2021 On Time Download Open in new window
Annual return 31 December 2019 16 November 2020 16 days late
Accounts and TAR 31 December 2019 16 November 2020 16 days late Download Open in new window
Submit annual return Open in new window

Linked charities

Contact information

Address:
INSTITUTION OF MECHANICAL ENGINEERS
1 BIRDCAGE WALK
LONDON
SW1H 9JJ
Phone:
02073046862