A LOOK BACK

The institute of the motor industry

Annual Report Year Ended 31 March 2016

The Board

IMI EXECUTIVE BOARD DIRECTORS

S Nash FIMI
S James FIMI (appointed 4 January 2016)
K L Woolley FIMI (appointed 4 May 2016)

IMI NON-EXECUTIVE BOARD DIRECTORS

T Murphy
M Rogers FIMI
G Braddock AAE HON FIMI
A J S Smith FIMI
D R Lockhart FIMI
A J Tomsett MIMI
S Martindale FIMI
K Finn FIMI
A Davies FIMI
M A Crandon AAE FIMI
R Siney FIMI (appointed 29 October 2015)

Company Info

COMPANY NUMBER:
00225180

REGISTERED OFFICE:
Fanshaws
Brickendon
Hertford
Hertfordshire
SG13 8PQ

AUDITORS:
BDO LLP
Arcadia House
Maritime Walk
Ocean Village
Southampton
SO14 3TL

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Chairman's
statement

Adrian Smith FIMI

"The development and facilitation of professional standards is critical in our fast moving industry. The IMI, as the overarching body, is best placed to make this happen."

An exciting time

This is an exciting time to be part of the dynamic automotive sector with the Government taking proactive steps to promote alternative fuel technology and the public are beginning to respond. Technology is evolving fast, with Hybrid & Electric cars now being common place.

These developments will have a huge impact on every part of the motor industry and the need to completely professionalise our industry has never been so important - the work of IMI is be more imperative than ever.

The development and facilitation of professional standards is critical in a fast moving industry and I believe an overarching body such as the IMI is best placed to make this happen.

The IMI has taken a strong stance on issues that affect the industry with campaigns around licensing of technicians, careers and apprenticeships - ensuring the industry has a higher profile with government and the media than ever before.

Adrian J. S. Smith FIMI
Chair of the IMI

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CEO's
report

Steve Nash FIMI

Steve Nash looks back and summarises a busy and successful year at the IMI.

"IMI believes that the development and facilitation of professional registration is critical to personal and business success.
We exist to make this happen."

Strategic Focus

The IMI introduced a new core purpose as part of the new strategic direction which places the IMI Professional Register at the heart of everything we do.

Last year the IMI progressed with its three year strategy designed to ensure the IMI continues to support the automotive sector.

Our focus during this eventful year has been on:

The continued development and refinement of our existing products and services

Development of new products and services, in consultation with our customers and partners

Growth through diversification

Strategic acquisitions

Redefining the purpose of the IMI - ensuring we continue to support the automotive sector without government-funded projects.

We have continued campaigning to introduce a Licence to Practise for automotive technicians in order to ensure minimum standards are in place across the industry, and to end the situation where businesses who invest in training are forced to compete on cost with those who don’t.

Creating a Commercial Culture

It is essential we continue to develop and diversify our product offering in order to meet the ever evolving demands of the sector we serve.

As the leading awarding organisation for the motor industry, we are continually looking for ways to achieve excellence and consistent customer satisfaction across our growing centre network.

International Strategy

We have been working hard to fully exploit international business opportunities for all IMI products and services. The presence overseas has presented us with the opportunity to expand the sale of our Qualifications, Accreditations and Membership internationally.

Product and Skills Solutions

Developing a cohesive product strategy has enabled us to provide a compelling offer to the sector supporting Professional Registration. Membership plays a significant part in the IMI’s strategy, connecting IMI learners with IMI Membership.

Sector Skills responsibilities

We have continued to carry out research, providing information and advice on skills to the automotive sector, which has enabled us to ensure employers and learners have fit for purpose Standards, Qualifications and Apprenticeship frameworks, as well as supporting careers information, advice and guidance.

Performance

Growth in Turnover was strong year on year delivering £8.16m, up 11.0% on 2014/15 (£7.35m). Cost control was also strong year on year with £9.14m of expenditure, up 3.4% on 2014/15 (£8.84m). Overall the organisation made a Loss for the year of £964k with a positive variance of £504k to 2014/15 (loss for the year of £1.47m) and an adverse variance of £193k to budget (shortfall of £771k, including Business Transformation costs), due in part to extra costs incurred as part of being recognised as an Awarding Organisation.

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IMI Corporate
Social Responsibility

"The location is exceptional and the staff are always friendly and helpful. The team that I work in is always willing to help and advise me if requested, my colleagues are enthusiastic about what they do and have a great deal of knowledge and experience."

The Automotive Sector

We believe that professionalism and ethical working should be at the centre of how the automotive sector operates and in this respect our work promoting the Professional Register to consumers is key. We believe the technicians working on electric and hybrid vehicles should be licensed, for their own and the public’s safety and we are campaigning with Government to bring this about, with the support of a broad range of automotive businesses including manufacturers, franchised and independent dealers.

We recognise achievement of individuals and organisations at our Outstanding Achievers Awards event as well as presenting awards at our Annual Dinner for those who make outstanding contributions to the sector and the work of the IMI. Dedicated to increasing the awareness of the career opportunities within the motor industry, the IMI also host an annual skills competition, IMI Skill Auto, which showcases the top talent within the industry in Automotive Body Repair, Vehicle Refinishing, Automotive Technology and Heavy Vehicle Engineering.

These developments will have a huge impact on every part of the motor industry and the need to completely professionalise our industry has never been so important - the work of IMI is more imperative than ever.

People

This year we entered the Best Companies to Work For and were awarded a One Star Accreditation and placed 69th in the Sunday Times Top 100 Best Not For Profit Companies to Work For. Our staff rated us highly in the “Giving Something Back” category, recognising our work in the sector and the community. We involve staff in monthly communications meetings, which are recorded for those who work remotely, and hold an annual business plan sharing day so everyone knows what the objectives are and how they contribute to them. The staff on our Social Committee organise fun and charity events throughout the year. Training and development is key for our people, to support our staff through ongoing development which will help them realise their career aims.

Staff Comments

"IMI is a great workplace because there is opportunity for career progression and personal development."

Environment

We work in an environmentally friendly way as possible, through careful purchasing, printing and recycling. No office waste goes to landfill but is recycled or re-used; our IT equipment is energy star rated and efficient; we maintain and cherish our Grade II listed head office building and support the local wildlife trust while maintaining our grounds as a corridor for wildlife. This year we are not printing and posting copies of the Annual Report to all our members, but it is available on the website for download and reading; saving printing, paper and distribution. Our own fleet of company cars has green options and we provide electric charging points at our head office.

Community

As an organisation, we support BEN, the automotive charity, through payroll giving, supporting the Christmas event, we hold charity events to raise funds and it is the charity supported by the Annual Dinner raffle. As an organisation the IMI also donates to local community and school events. Including all activities, the IMI contributed £12,000 to charity last year. In addition, over £2,000 was raised by a member of staff running the London Marathon for BEN, and staff choose other charities to support throughout the year, raising over £4,000 for all causes.

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Future
Plans

Business Objectives 2016/2017

Deliver the agreed budget for 2016/17, achieving bottom line budget and maintaining a tight control on overdue debts and expenditure by 31 March 2017.

Achieve product income targets by 31 March 2017 through the implementation of an international business development plan with fully integrated marketing and communications activities.

Develop and deliver realigned operating processes, procedures, governance, resources and culture to achieve successful implementation of the new operating model and ways of working by 31 March 2017.

Raise awareness of automotive careers opportunities and progression routes through IMI careers products and resources, aiming to reach 112,000 individuals by 31 March 2017.

Design and deliver IT and web infrastructure, systems and products to support the delivery of the business strategy during the 2016/17 financial year.

Deliver a business-wide research plan, including keeping abreast and reporting on opportunities and threats presented by changing government skills policies, in order to inform the strategic direction of the business during the 2016/17 financial year.

Re-align existing and develop new products with the IMI’s common purpose by 31st March 2017, ensuring a consistent market-led, quality approach to design, development, launch and evaluation in order to position the product portfolio as a world-leader.

Development and implementation of Professional Standards for six job role families, in conjunction with the creation of three new membership entry routes and review of existing entry routes by 31 March 2017.

Ensure regulatory compliance throughout the 2016/17 financial year.

Development and full implementation of the agreed membership business model by 31 March 2017.

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Risk

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The directors of IMI have a robust risk management policy and keep the IMI Group’s activities under constant review, particularly with regard to any major risks. The risk management policy reflects the purpose and approach to risk management and the role of staff and senior management in identifying and reporting risk, and taking mitigating actions to reduce risk levels.

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Financial
Report

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The directors are responsible for preparing the Group Strategic Report, the Directors’ Report and the financial statements in accordance with applicable law and regulations.