THE INSTITUTE OF MARINE ENGINEERING, SCIENCE AND TECHNOLOGY
Charity overview
Activities - how the charity spends its money
IMarEST is the leading professional membership body and learned society for all marine professionals, with over 20,000 members worldwide. The Institute has a strong international presence with an extensive network of around 50 international branches, offers peer-reviewed journals and an industry-focused magazine, produces conferences and events, and enjoys non-governmental status at IMO.
Income and expenditure
Data for financial year ending 30 September 2023
Total income:
£2,973,000
| Donations and legacies | £13.00k | |
| Charitable activities | £2.53m | |
| Other trading activities | £0 | |
| Investments | £410.00k | |
| Other | £19.00k |
Total expenditure:
£3,114,000
| Raising funds | £0 | |
| Charitable activities | £3.11m | |
| Other | £0 |
£294,000 investments gains (losses)
Charitable expenditure
Charitable expenditure with investment gains
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.
| Raising funds and other expenditure | £0 | |
| Charitable expenditure | £3.11m |
People
20 Employee(s)
17 Trustee(s)
430 Volunteer(s)
Employees with total benefits over £60,000
| Number of employees | |
|---|---|
| £60k to £70k | 1 |
| £70k to £80k | 1 |
| £90k to £100k | 1 |
| £110k to £120k | 1 |
| £130k to £140k | 1 |
Fundraising
Trading
Trustee payments
What, who, how, where
- Education/training
- The General Public/mankind
- Provides Advocacy/advice/information
- Acts As An Umbrella Or Resource Body
- Throughout England And Wales
- Australia
- Bangladesh
- Belgium
- Bermuda
- Burma
- Cyprus
- Egypt
- Greece
- Hong Kong
- Indonesia
- Ireland
- Isle Of Man
- Luxembourg
- Malaysia
- Malta
- Netherlands
- New Zealand
- Nigeria
- Pakistan
- Philippines
- Russia
- Scotland
- Singapore
- South Korea
- Sri Lanka
- Ukraine
- United Arab Emirates
- United States
Governance
- 22 August 1963: Standard registration
- 30 January 1997: Removed
- IMAREST (Working name)
- 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
- Serious incident reporting policy and procedures
- Social media policy and procedures
- Trustee conflicts of interest policy and procedures
- Trustee expenses policy and procedures
- Volunteer management
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
17 Trustee(s)
| Name | Role | Date of appointment | Other trusteeships | Reporting status of other trusteeships | ||||
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| Kevin Daffey | Chair | 14 March 2019 |
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| Michael Watt | Trustee | 26 March 2025 |
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| Rebecca Stanley | Trustee | 26 March 2025 |
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| Alexander Frank Walster | Trustee | 26 March 2025 |
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| Shangeetha Mahesan | Trustee | 26 March 2025 |
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| Dr Obed Nimi Abili | Trustee | 24 April 2024 |
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| Sarah Grimshaw | Trustee | 23 November 2023 |
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| Christy Farrer | Trustee | 19 June 2023 |
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| Anthony Edward Hill | Trustee | 19 June 2023 |
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| Adthisaya Ganesen Manickam | Trustee | 31 March 2023 |
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| Kaushik Roy | Trustee | 31 March 2023 |
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| Prof. Stephen John de Mora | Trustee | 24 March 2022 |
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| Francis Byrne Mungo | Trustee | 24 March 2022 |
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| Yves Joseph Guy De Leeneer | Trustee | 24 March 2022 |
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| Christopher Hodge | Trustee | 15 March 2021 |
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| Dr Sajid Hussain | Trustee | 03 April 2020 |
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| Parviz Sangin | Trustee | 02 April 2020 |
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Financial history
Financial period end date
| Income / Expenditure | 30/09/2019 | 30/09/2020 | 30/09/2021 | 30/09/2022 | 30/09/2023 | ||
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Total gross income | £3.20m | £2.60m | £2.89m | £2.92m | £2.97m | |
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Total expenditure | £3.34m | £3.39m | £2.85m | £2.79m | £3.11m | |
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Income from government contracts | N/A | N/A | N/A | N/A | N/A | |
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Income from government grants | N/A | N/A | N/A | N/A | N/A | |
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Income - Donations and legacies | £21.57k | £10.59k | £10.14k | £1.16k | £13.00k | |
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Income - Other trading activities | £0 | £0 | £0 | £0 | £0 | |
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Income - Charitable activities | £2.68m | £2.13m | £2.44m | £2.46m | £2.53m | |
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Income - Endowments | £21.57k | £0 | £0 | £0 | £0 | |
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Income - Investment | £491.55k | £450.12k | £422.42k | £401.86k | £410.00k | |
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Income - Other | £2.74k | £5.56k | £22.21k | £57.89k | £19.00k | |
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Income - Legacies | £0 | £0 | £0 | £0 | £0 | |
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Expenditure - Charitable activities | £3.34m | £3.12m | £2.85m | £2.79m | £3.11m | |
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Expenditure - Raising funds | £0 | £0 | £0 | £0 | £0 | |
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Expenditure - Governance | £132.78k | £23.42k | £8.03k | £40.79k | £61.00k | |
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Expenditure - Grants institution | £0 | £0 | £0 | £0 | £0 | |
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Expenditure - Investment management | £0 | £0 | £0 | £0 | £0 | |
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Expenditure - Other | £0 | £265.49k | £0 | £0 | £0 |
Assets and liabilities
Definitions for assets and liabilities
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 InvestmentsInvestments 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.
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 liabilityThis is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.
Total liabilitiesThese 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.
| Asset / Liability | 30/09/2019 | 30/09/2020 | 30/09/2021 | 30/09/2022 | 30/09/2023 | ||
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Own use assets | £362.73k | £383.98k | £215.37k | £136.23k | £850.00k | |
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Long-term investments | £13.36m | £13.35m | £13.21m | £11.74m | £11.96m | |
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Other assets | £2.16m | £2.11m | £2.37m | £2.20m | £743.00k | |
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Defined benefit pension scheme asset or liability | -£2.08m | -£3.76m | -£2.14m | -£1.76m | -£1.56m | |
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Total liabilities | £1.25m | £1.78m | £1.27m | £1.37m | £920.00k |
Accounts and annual returns
| Title | Reporting year | Date received | Received | Download |
|---|---|---|---|---|
| Annual return | 30 September 2023 | 30 July 2024 | On Time | |
| Accounts and TAR | 30 September 2023 | 30 July 2024 | On Time | Download Open in new window |
| Annual return | 30 September 2022 | 27 July 2023 | On Time | |
| Accounts and TAR | 30 September 2022 | 27 July 2023 | On Time | Download Open in new window |
| Annual return | 30 September 2021 | 29 July 2022 | On Time | |
| Accounts and TAR | 30 September 2021 | 29 July 2022 | On Time | Download Open in new window |
| Annual return | 30 September 2020 | 30 July 2021 | On Time | |
| Accounts and TAR | 30 September 2020 | 30 July 2021 | On Time | Download Open in new window |
| Annual return | 30 September 2019 | 29 July 2020 | On Time | |
| Accounts and TAR | 30 September 2019 | 29 July 2020 | On Time | Download Open in new window |