| Page | ||
|---|---|---|
| Legal and Administrative | information | |
| Report ofthe Council | 2-10 | |
| Report ofthe Auditor | 11 —13 | |
| Statement ofFinancial | Activities | 14 |
| Balance Sheet | 15 | |
| Notes to the Financial | Statements | 16-23 |
| DrJD Davies (Chairman ofthe Society) | DrJ Davey (elected 2019,review 2023) |
|---|---|
| Dr PVNash (Honorary Treasurer) |
N Hewitt (elected 2019,review 2023) |
| ARoach (Honorary Secretary ) |
Dr C Holt (elected 2019,teview 2023) |
| KJamieson (elected 2021,teview 2025) | |
| Commander M Barton (elected 2021,review 2025) |
Capt P King (elected 2020 review 2024) |
| PBugden (elected 2019,review 2023) | J Michdl (dected 2021,review 2025) |
| C.Brandon (elected 2019,review 2023) | DrKParker (elected 2021,review 2025) |
| Dr A Coats (elected 2018,review 2022) | Dr C Scheybeler (elected 2021,review 2025) |
| Objective | Strategy | Achievement | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ' ysgltE The Marinet's | Mirror' | Suppose the work of, the Editor | Thgt was achieved as usual with electronic | |||||||
| fute,:tfmes per annum | .Hon. Reviews Editoi and | pujefs'.ofThe Marinet's Mirror targeted a't |
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| the Editorial Boatd. , |
insritutional users by Taylor gr Francis and |
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| '(~'jhgttll. ovemeen by the | haid copies f9r personal members. | |||||||||
| Publications Conubittee). , |
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| +newsletter, tt4$@.a year.~the webote th)jcSociety and its |
,four '. to ie6'ect |
ppoit the' wo'rji 'hg the . c 'P. Topmksts Edttpr'. , tp I @tg-website reflect the "' ~!iand aclrievanenty of, |
a evadable- electtoiiically '. '.the' SNR website. ji'figutes continue to inctease, members'joinirig through activities |
i | ||||||
| lhe Socletyq and uses social | fe)sting to.the Fofu'm and Topmasts. | |||||||||
| media to reach new'membets. | ' | t | ||||||||
| public edu'cation I ' |
in | ', | MYvtjTtt financjql support for a'tql | Sev'en organisations and individuals wete |
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| i | History. | toast two confemvhces apnually I t(tl well as other research -',, ', ' ,~the New Reseatchers '.'I |
'awaided grants to support research projects i j(jjjjttfoi conferences -including BCMH, "Uni'versity ana Maiitime History |
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| CitThffyffihlch'and the ICMPI .Seriee |
eAnde'tsou Medal fot best book ' 'Maxitinie'Historic(2024) wa's awatded to. e |
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| ' o atv'ard the Anderson, Victory |
Richard Endsor fot his book The Mastet i |
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| and Centenary Medals as, |
& Secrets. The Victory' Medal | |||||||||
| appropriate. | vftgawa'rded to Andrew Baines for'his |
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| dedication to the preservation and |
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| (tjoltg(sm ofHMS Victory and other ships | ||||||||||
| the ca're ofthe National Museum of |
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| thgsRoyal Navy. |
| F | or th | e year e | nded 31Dec | ember 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Umestricted | Restricted | Total | Total | ||||||
| Notes | Funds | Funds | 2021 | 2020 | |||||
| INCOME FROM: | |||||||||
| Donations and legacies |
1,103 | 1,103 | 77 | ||||||
| Investments | |||||||||
| Investment income and interest |
received | 18,948 | 115,740 | 134,688 | 113,022 | ||||
| Charitabl activitres |
|||||||||
| Subscriptions | 61,650 | 61,650 | 58,498 | ||||||
| Publications, royalties |
and copyright | sales | 106,981 | 106,981 | 25,527 | ||||
| 168,631 | 168,631 | 84,025 | |||||||
| Other | 1,000 | 1,000 | 1,141 | ||||||
| Total Income | 189,682 | 115,740 | 305,422 | 198,265 | |||||
| EXPENDITURE ON: | |||||||||
| ~aktgiunds | |||||||||
| Investment management |
costs | 5,766 | 24,553 | 30,319 | 28,196 | ||||
| Cbari table ac&iries | |||||||||
| Grants and donations | payable | 9,066 | 22,984 | 32,050 | 12,592 | ||||
| Pubgcations | 143,847 | 143,847 | 60,567 | ||||||
| Advancing interest in |
nautical research | 22282 | 22,282 | 17,923 | |||||
| 175,195 | 22,984 | 198,179 | 91,082 | ||||||
| Total Expenditure | 180,961 | 47,537 | 228,498 | 119,278 | |||||
| Net gains/gusset) on |
investments | 56,688 | 433,734 | 490422 | ~76384 | ||||
| Net Income before transfers | 65,409 | 501,937 | 567,346 | 2,603 | |||||
| Transfers | 14 | ||||||||
| Net Income fot the year/Net | movement | in funds | 65,409 | 501,937 | 567,346 | 2,603 | |||
| Fund Balances Btought | Fotwatd | 899,221 | 4,348,728 | 5,247,949 | 5,245,346 | ||||
| Fund Balances Carried | Fotwatd | 14,15 | 964630 | 4850665 | 5,815,295 | 5247,949 |
| Fo | r the y | ear ended 3 | 1Decembe | r 2021 | ||||
|---|---|---|---|---|---|---|---|---|
| 6 | Publication Costs |
2021 | 2020 | |||||
| Unrnrrrrrrdfnnk | ||||||||
| General costofpublications | 126,457 | 44,340 | ||||||
| Support costs (Note 8) | 17,390 | 16,227 | ||||||
| 143,847 | 60,567 | |||||||
| 7 | Governance Costs |
2021 | ||||||
| Unrsrtrrbrrd funk | ||||||||
| Support costs (Note 8) | 12,326 | 10,073 | ||||||
| Audit and accountancy | 9,645 | 8,069 | ||||||
| Other management costs |
150 | 650 | ||||||
| 22,121 | 18,792 | |||||||
| ltrrtdrtrdfunk | ||||||||
| Audit and accountancy | 2,085 | 2,085 | ||||||
| Other management costs |
850 | 854 | ||||||
| 25,056 | 21,731 | |||||||
| 8 | Allocation ofOthet Membership | and Suppott Costs | Advancing | |||||
| Grants | Intetest | in | Governance | |||||
| Year to 31December 2021 | Payable | Publications | Nautical Research | Costs | ||||
| Membership secretary fees |
13,200 | |||||||
| Travel, postage and genetal expenses | 1,538 | 1,538 | 3,076 | |||||
| Lecture and conferences | 730 | |||||||
| Professional | 1,750 | |||||||
| Publicity and Website |
7,500 | 7,500 | ||||||
| 1,538 | 9,038 | 13,930 | 12,326 | |||||
| Direct governance costs |
12,730 | |||||||
| 1,538 | 9,038 | 13,930 | 25,056 | |||||
| AHocation ofgovernance | support costs | 8,352 | 8,352 | 8,352 | 25,056 | |||
| 9,890 | 17,390 | 22,282 |
| Advancing | |||||
|---|---|---|---|---|---|
| Grants | Intetest in | Governance | |||
| Year to 31December 2020 | Payable | Publications | Nautical Research | Costs | |
| Membership secretary fees |
10,380 | ||||
| Travel, postage and general expenses | 1,091 | 1,091 | 2,181 | ||
| Lecture and conferences | 300 | ||||
| Publicity and Website |
7,892 | 7,892 | |||
| 1,091 | 8,983 | 10,680 | 10,073 | ||
| Direct governatsce costs | 11,658 | ||||
| 1,091 | 8,983 | 10,680 | 21,731 | ||
| Allocation ofgovernance | support costs | 7,244 | 7,244 | 7,243 | (21,731) |
| 8,335 | 16,227 | 17,923 |
| 9 | Net Incoming Resources | |||
|---|---|---|---|---|
| Are stated aftet charging: | 2021 | 2020 | ||
| Auditor's temuneration |
7,450 | 6,770 | ||
| Trustee expenses reimbursed | to 2 trustees (2020: 1 trustee) | 520 | 34 |
| Tangible Fmed Assets | Plant & |
| Machinery | |
| Cost | |
| As at 1January 2021 and 31Decembet 2021 | 1,485 |
| Depreciation | |
| As at 1January 2021 and 31December 2021 | 1,484 |
| Net BookValue | |
| As at 1January 2021 and 31December 2021 |
| 2021 | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Market | Market | ||||
| Cost | Value | Cost | Value | ||
| Unresmcted Funds |
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| General Fund Designated Funds: |
185,514 | 280,061 | 182,612 | 260,008 | |
| Anderson Bequest Fund Tomhn Bequest Fund Farrar Fund |
265,427 49,815 132,941 |
287,569 69,821 163,423 |
201,585 49,910 136,893 |
265,427 64,658 152,073 |
|
| Restacted Funds | 633,697 2,770,798 |
800,874 4,591,141 |
571,000 2,906,263 |
742,166 4,162,548 |
|
| 3,404,495 | 5392,015 | 3,477763 | 4,904,714 | ||
| Unrestricted | Restdcted | Umestricted | Restricted | ||
| Funds | Funds | Funds | Funds | ||
| Balance at beginning ofyear Additions Disposals atbook value Net gains/(losses) on investments Add: Cash balances included in investments |
735,300 52,264 (57,301) 56,688 13,923 |
4,096,429 320,865 (399,669) 433,734 139,782 |
761,529 73,109 (65,935) (33,404) 6,866 |
4,061,110 129,807 (51,508) (42,980) 66,119 |
|
| Balance at end ofyear | 800,874 | 4,591,141 | 742,165 | 4,162,548 | |
| Market | Market | ||||
| Value | Value | ||||
| 2021 | 2020 | ||||
| UK equities UK Fixed Interest UK index linked |
2,378,762 805,714 23,677 |
1,897,201 1,289,191 99,003 |
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| Overseas equities | 1,495,293 | 222,480 | |||
| Overseas Fixed Interest | 534,864 | 1,323,845 | |||
| Cash | 153,705 | 72,984 | |||
| 5392,015 | 4,904,704 |
| Analysis of | Net Assets between Funds | Net Assets between Funds | Fixed Assets | Net | ||
|---|---|---|---|---|---|---|
| and | Current | 2021 | 2020 | |||
| Investments | Assets | Total | Total | |||
| A' | ||||||
| Unrestricted | funds | 800,875 | 163,755 | 964,630 | 899,221 | |
| Restricted funds; | ||||||
| Save the Victory Fund | 3,886,419 | 195,138 | 4,081,557 | 3,636,173 | ||
| Macphetson | Collection Endowment | Fund | 704,722 | 64,386 | 769108 | 712555 |
| 5@92,016 | 423,279 | 5,815495 | 5,247,949 |