Financial results

2022 resulted in another strong financial year for the Institution with total group income from unrestricted funds ending the year ahead of target at £8.64m. This represents a 10% increase on 2021.

Total income (unrestricted funds)

Income from membership subscriptions remained steady, whilst income from training courses, conferences and events increased back up to pre-covid levels as activities returned face to face.

Total income - unrestricted funds


Operating income and expenditure (unrestricted funds) – last five years

Total expenditure on unrestricted funds was £8.23m, resulting in a net operating income of £406,000.

Operating income and expenditure - unrestricted funds - last five years


Reserve levels (unrestricted funds) – last five years

The level of free reserves held at year end was £6.73m with a further £0.35m held as a designated fund for future IT projects.

Reserve levels - unrestricted funds - last five years


The full audited accounts for the Institution are available in the financial accounts area of the website.

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