#
#
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|COVER PAGE|||||
|---|---|---|---|---|
|CONTENTS|||||
|INDEX|Trustees
Annual
Report||||
||Administrative
Details ofthe Society,||||
||Trustee/Directors
and|Advisers|||
||Structure,
Governance|and Management|||
||Objectives
and Activities||||
||Achievements
and Performance||||
||Plans for Future Periods||||
||Financial
Review||||
||Chairman's
Report|||13|
||Statement
ofTrustees|Responsibilities||14|
||Independent
Examiners|Report||15|
||Consolidated
Statement|of Financial|Activities|16|
||Consolidated
Income and Expenditure||Account||
||consolidated
and Charity
Balance Sheets|||18|
||Consolidated
Statement|of Cash Flows|||
||Notes to the Financial Statements|||20|
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||||||FO|RYEAR|ENDED 31DECEI/IBER 2020||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted
I'undo|nestrlcted|||
||||||||eeneral
oesloneted|funds|Total|Total|
|||||||Nots|Fund
Funds||2010|2019|
||||||||8|8|||
|Income from:|||||||||||
|Donations
and legaais0|||||||||||
|Membem
subscrfpnons|and Donanons||||||390,746||390,746|367,159|
|Legacies 8Spadflc Donations
grants and Spdnsorshlp|||||||5,555|1,949|1,949
5,555|58,976
a,if.i|
|Total Donations
and|Legaoms||||||396301|l,a49|39S260|434,246|
|other Trading Activities|||||||||||
|'Fundralslng|||||||73 rf65||23,965|90,728|
|Trading
Income|||||||93,560||93,560|83,622|
|Total Other Trading|Activities||||||117528||117,525|174 50|
|Cirarftable
Activities|||||||||||
|Trnlnlng
Income|||||||76,716||76,716|156,378|
|Branch AcEvitfes|||||||7,029||7,029|33,954|
|Invesbnents|||||||12,645||12,645|10,857|
|Total Income|||||||610,216|1949|612,165|809,785|
|Expenditure
om|||||||||||
|Raising Funds|||||||||||
|Direct coals of nfndfafsfng|||events|||28|43,095||43,095|58,948|
|Membership
Markenng|and||Data Management|||28|146,188||146,188|187,840|
|Trading||||||28|77,968||73,968|53,478|
||||||||Z63 251||263251|300266|
|Cbarmable
aotivniee|||||||||||
|Research
al Pubffc Fducauon||||||28|96,762|14,798|111460|144,092|
|Technlcol end advblory||||||28|87403||87,403|88,197|
|Media and Pubgortfons||||||28|109,065||109,065|95,021|
|Tmblln9||||||28|118,207||118,207|174,784|
|Other ActlVftles||||||28|37,704||37,704|62,832|
||||||||449,141|14,798|463 939|564926|
|Total|||||||712392|14,798|727 190|865192|
|Net income / expenditure|||||||t0
176|12849|115,025)|(55PI07)|
|Transfers
between
funds|||||||||||
|Other recognised gains|/|(losses)|||||||||
|Unreagsad
mains/iLoss)||on Investment|||assefa||as 147|||ae aeo|
|Raagsad Sahls/[Loss)|on|Investment||assets|||(23I907)||(23,907)||
||||||||60,936|12849|73785)|[2,167)|
|BALANCES AT 17ANVAAT||2020|||||691,732
58,497|95,443|845,672|847,839|
|BALANCES AT31DECEMBER 2020|||||||630796
58,497|82,594|771,887|845,672|
##
||||||unaudited|
|---|---|---|---|---|---|
||||Notes|2020|2019|
|||||5|E|
|INCOME||||||
|Subscrlptlons
and Donations||||390,746|367,159|
|Legadss||||1,949|58,976|
|Training
Income||||76,716|156,378|
|Grants 6Sponsorship||||5,555|8,111|
|Branch Adivltles||||7,029|33,994|
|Trading Income||||93,560|83,622|
|Auctiow 8. Draws||||23,965|90,728|
|Investment
income||||12,645|10,857|
|Total Income||||612165|809,785|
|COST UF GENERATING|FUNDS|||||
|Fund
Raising costs|||26|43,095|58,948|
|Membership
Madmtlng
snd||Data Management|28|146,188|187,640|
|Trading
Costs|||28|73,968|53,476|
|Charitable
Activities||||||
|Research and Education|||28|111,560|144,092|
|Technical
8 Advisory|||28|87,403|88,197|
|Media 8 publications|||26|109,065|95(021|
|TrahIlng|||28|116,207|174(784|
|Other Activities|||28|37,704|62,832|
|l'otal Cost ofGenerating||Funds||727 190|865,192|
|Gains and losses on investments||||41,240|53,240|
|Net (deficit) / surplus for the Year||||73785)|(2,16|
##
|||2020|2019|
|---|---|---|---|
|Cash Rows from operating
actlvltlest||||
|Net cash provided
by (used In)||||
|operating
activities|32a|(56,823)|(53,838)|
|Cash flows from Investing
activities:||||
|Dividends,
Interest and rents from Investments||12,645|10,857|
|Proceeds from sale of property,
plant||||
|and equipment||667|229|
|Purchase of property,
plant and equipment||(32,656)|(16,691)|
|Proceeds from sale of investments||79,716||
|Purchase of Investments||(126,585)|(44,648)|
|Net cash provided
by (used ln)||(66,213)|(50,253)|
|investing
acthrltles||||
|cash flows from financing
activities:||||
|Life membership
subscnptions
received||720|3I600|
|Net cash provided
by (used in) financing|activities|720||
|Change
ln cash and cash equivalents||||
|in the reporting
period||(122,316)|(100,491)|
|Cash and cash equivalents
atthe beginning||||
|ofthe reportIng
period||435,274|535,765|
|Cash and cash equivalents
at the end||||
|ofthe reporting
period||6312,958|6435,274|
##
##
##
##
##
|7|ZNVESTMENT INCOME||2020|2020||2019|
|---|---|---|---|---|---|---|
||||6||||
||Dividends
received||12,406|||10,169|
||Interest receivable||||231|679|
||Received by Branches
Total Investment
Income||1|8
645||10 67|
|8|GOVEROIANCE COSTS||2020|||2019|
||||6||||
||Audit|||||t2,250)|
||Independent
ExamlnsDon
Fee and Other Sarvkes
Grwemance
costs ofsubsidlaltes|||600
1,800||3,680
I,,560|
||Legal and Frolasslonef
Fees
coals ofthe Boanl al Area coundls||||35
0|1,861
941|
||AGM ItStatutory
Expenses|||3,241
6 6'76||8,987
15,699|
##
|fnr the teals|ofapporu|onment
and t|he analysis ofthe support sn|d governance
co|als.||
|---|---|---|---|---|---|---|
||||General||Total|Basis of|
||||SUPPolt|||AppoltlolUnent|
|Salaries and|rcdamd casts||155,669||155,669|AEsea ted on time|
||||122,95S||122,955|AEocated based on Usage|
|AccoUntancy|fees|||2,400||Governance|
|Legal and professional||fees||39||Governance|
|AGN and meeEng expenses||||3,2'l1|3,241|Governance|
||||278,824|5,676|284400||
##
|10 STAFF COSTS AND EMOLUMENTS|10 STAFF COSTS AND EMOLUMENTS|||||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||5|5|
|Gross salaries||||||||||||245,633|241,029|
|Employers
National
Insurance||||||||||||21,129|21,662|
|Perwlon
Contributions||||||||||||12 439|21289|
|Total staff coals and Emoluments|||||||||||279,201||283,980|
|Average head count oFemployees||||||||||||||
|Technical||||||||||||||
|SUPPoft||||||||||||||
|Governance||||||||||||||
|There are no employees
with|emoluments|abave 5603I00||||||||||||
|The trustees
neither received|nor waived|any emoluments|||during the year, however|||||||||
|tha foAowlng
honomrm
were|payable as|permkted
under||the governing|||document;|||||||
|out ofpocket expenses were|reimbursed|to3(2019;|8)|trustees as follows|||||||2020||2019|
|||||||||||||0|0|
|TraveAlng 8Accommodation|etc.|||||||||||1,608|10,233|
|During tha year the company|purchased|the part Ame|services of Mr.J.||||Bruce as|part time||||||
|Scotthh ofAcer, from Bruce Countryside||Developments,||The total costs|||Indudlng|travel|etc. amounted|||||
|toI7,498 (2019510,618)MrI. Bnrce m a director of Brum countryside|||||||Developments||Uxl.|||||
|Also during the year the company
purchased
the pert|||time||services|ol' Mr N Rout es Heed ofAssessment||||||Centra|(2019:nA)|
|from Orlon WAdAfe Umlted. The total costs amounted|||to 52,250. Mr Raut ls a director at'||||||orlon WAdgfe||Umlted.|||
|The mmpany
also purchased|dudng the year, servkes||liam Mr. GrlfAth||||es a part time Course manager|||||for E590||
|P019:52,695),
N Rout far5620(2019:41,454), A Monkman
for||||||5285 (20t9: nA) and|||M Chsrlton|lbr||581 (2019;ng).||
|1INDEMNITY INSURANCE|||||||||||2020|||
|||||||||||||5||
|chwtt
lutdCtmdtyTnxstees|IndemNIT|||||||||||I900||
##
##
##
|12 PENSION COSTS|||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The chadty
operates
s|d||egned||contrlbutlora|scheme,|The|assets of|the scheme|||are held sapemtely|||||||
|from those ofthe chmlty|||In|en lmlependently||admlnhtered||fund.|||||||||||
|The Society a(so pays|a|contribution
to Sipp||||scheme|on bshall' oFone employee,||||||||||||
|The parisian costs represent||||the contributions||payable|by|the charity to||the fund,|||In 2019|these|||||
|mnounted
to 512,439|(2019||||L21,299)There|were no outstanding|||or prepaid||conirlbuifons||||at the|and of|||
|of2020.|||||||||||||||||||
|||||||||||||||||2020||2019|
|||||||||||||||||E||6|
|During the year the Ibgowlng|||||number ofemployees||||||||||||||
|scented retirement
benefits||||under tba Money||Purchase scheme|||||||||||||
|During the year the following|||||number ofemployees||||||||||||||
|accrued retirement
beneflts||||under their SIPP||scheme|||||||||||||
|13 NET INCOME||||||||||||||||ZOZO||2019|
|||||||||||||||||0||6|
|Net Income Is charged|wkh|||following casts|||||||||||||||
|DepreclaBon||||||||||||||||25,241||31,424|
|Audkor's
Remuneretfon|||||||||||||||||||
|Fees for Audit Services||||||||||||||||||(1,250)|
|Fees fbr Accountancy
Total Charges||and||Other Services||||||||||||2 400
27,841||5160
36,334|
|||||||||||2020|||||||2019||
|14 INVESTMENTS||||||||Sloop|||||Charity|||Gr'oup||Chadty|
|||||||||Usted|||||Usted|||LSted||Usted|
|||||||||Incesbnents|||||Investmenls|||Investments||Invesbnerds|
|Mark*value st beginning|||ofyear||||||564,341||||564~1|||451,031,||451,081|
|Addklons|||||||||90,661||||90561|||||57,222|
|AmnnulaBon
dbddends||||||||||1,462||||lr462||2,946||2,948|
|Dlsposals|||||||||(t03,623)||||(103,623)||||||
|Investment
managemerrt|||fees|||||||(120)||||P20)||(150)||(150)|
|Unresgsed
gaaw/(Moses)
on
Madret value at snd oi' year||||ravaluauon|||||65 147
617868||||65 147
617BBS|||53
5|240
41|53 240
5
341|
|Investment
comprise:|||||||||||||||||||
|Usted on the UK Stock|Exchange||||||||547,740||||547,/40|||459,631||459,631|
|Crlsb daposns|||||||||70120
617868||||70128
61786|||104
0
64342||104,710
BS4341|
|Costat end ol' year|||||||||440|238|||440|2SS||436|66|438 666|
##
|16|DEBTORS|Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2020|2019|20RO|2019|
|||8||5|8|
||Trade Debtors|21,436|2,247|21,436|458|
||Other Debtors|6,835|41,610|d,835|41,618|
||Prepaid Expenses|23,492|29,461|ZZ,838|17,831|
||Taxatlon|1,217|1948|1,217|1,940|
||Total Debtors|52 980|76+58|52 326|61SS9|
|17|BANK end CASH|Group|Group|Charity|Charity|
|||RORO|2015|2020|2019|
|||||E||
||Premium
Account|37,076|78,135'|37,076|Terl35|
||Cash In Hand and at Bank|205,754|252,429|203,254|249,929|
||Total Sank eml Cash|242,830|SSB564|240330|328 064|
|18|CRE01TOSS AMOUNTS|CRE01TOSS AMOUNTS|FAUZNG DOE WITHZN||Group|Group|Charky|Charity|
|---|---|---|---|---|---|---|---|---|
||ONE TSAR||||R020|R019|2020|2019|
||||||p.|8||E|
||Trade credltom||||18,885|39,665|17,967|34,563|
||Taxes and Other|Sod el|Security Costs||9,884|6ralZ|7,473|5r821|
||other CmdEiors||||6,779|6,779|6,779|6,779|
||Alxnials||||39,641|40,33Z|37,331|38,472|
||life Subscription|Fund under one year|||3,268|3,492|3,268|3,492|
||Amounts
ordng|to Subsldlorles|||||14,438|1,418|
||Deferred Income||||gg 934|66 028|99934|66,028|
||||||178,991|151708|187190|146575|
|||||Page 27|||||
##
|||feOTES TO THE CONSOLIOAl'E
VEAR HVOEO 31|feOTES TO THE CONSOLIOAl'E
VEAR HVOEO 31|O
FVIANCRAL STA
OECENBER 2020|TEMENTS|||
|---|---|---|---|---|---|---|---|
|19|CBEDRIORS, ANDUNTS
ONE YEAR|F/ILLING Dlm OVER||GIODP
2020|Group
2019
6|Charity
2D20
6|Charity
2019
6|
||Lffs Nembershlp
fund
Deferred Income|||8,433
6 900
15 33|t0,98t
12 300
23@St|8433
6 900
15333|10981
12,300
23281|
|20|LIFE NENBERSHRP FUND|||Group
2020|Group
2019|Charity
2020|Charity
2019|
|||||8||6|9,|
||Opening
Batence
Amount deferred
In the
Amount released
In the
Closing Balance|Year
Year||14;473
720
(3,492)
1.1,701|14,686
3,600
(3,813)
14,473|14,473
720
(3,492)
11,701|14,686
3,600
(3/I(3)
14473|
||Under one Year
Over One Year
Total|||3,268
8,433
11,701|3,492
10,981
14,473|3468
9,433
11r701|3,492
10,981
14,473|
||See Note 1(e)snd Note 21|||||||
|2t|ANALYSIS OF CHAR1TY GROUP||NET ASSETS 86llslEEN
Restricted
Furrde|FUNDS
Designated
Funda|General
Frlnda|Grasp
2020|Group
2019|
||Group|||||9|8|
||Fund Bskmces at31st Oecembef 2020|||||||
||are represented
by
Tangible lixed Assets
Investlnml ts
Sank and Cash
Current Assets
Currart
UabRRIes
Long Term Usbgltles||82rf94|58,497|42,377
61/,868
101,739
62,536
(178,391)
(15,333)|42@77
617/)68
242/)30
62,536
(178,39t)
(15~)|35,982
564441
330,564
89,T/4
(151,708)
(23,281)|
||||82 894|5 497|830,796|771887|845 672|
||ANALYSIS OF CHARLTY GROUP||NET A9SETS BETVREEN|FUNDS -2019COHPARATRVE
Rsetrtcted
Designated||Genera(|Group|
|||||Furrrbl|Funda|Fonda|2D19|
||||||||5|
||l3rolrp|||||||
||Fund Belances at 31stDecember 2019|||||||
||are repmsereed
by
7 nglble fixed Assets
tnvestmerrts
Bank end Cash
Culrellt Asseta
Current Usblttles
Long Term LlebEtles|||95,443|68,497|35,992
564,34t
176,624
89,774
(151,708)
(23r281)|564~i
330,564
89,774
(151,708)
(23,281)|
|||||95,443|58,487|692,732|845,672|
##
##
|CHARITY ONLY||31December 2920|31December 2920|31December 2920|Balance|||||||BIBBIIUB|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||1stJanuary|TrsAsfel's||lnca|me|Expenditure|gains|31stOec,|
||||||P.||g|0||B|||
|Barrels
I Fund|||||605,592|||527,832||626,364|41,240|548,290|
|Funds held by Brarlches|||||76,090||||6,417|12,041||72,466|
|Total ofGeneral|Fund||||681,682|||536,249||630,425|41,240|620,746|
|De fglrstad|||||||||||||
|Stall ConBngency||Fund|||40,000|||||||40,000|
|Educallon
and Research|||Fund||18497|||||||10 97|
||||||50,497|||||||58,497|
|Asstrfcted|||||||||||||
|J.Tayfor Papa Bumary|||||53,030|||||||53.030|
|Legacy Endowment
Research Pmleds||Fund|||41,953||||1,949|14,790||29,204|
|Branch Funds|||||460||||||||
||||||9,44||||,949|24,790||02,594|
|||||||||uaa|oa|sga 323|4124U|701,037|
|30 GENERAI
DESIGNATED||||AMO RB5TRXCTED|FUNDS||||||||
|GROUp 31Decmnber|||2020||Balance|||||||Balance|
||||||Jm JenuerY|Tran|fees|lncama||tbmandltma|Balue|01stDec.|
||||||||||||0|8|
|General
Fund|||||605/92|||508,239||606,791|41,240|545,200|
|Funrh hald hy Brunches|||||76,090|||8,417||JZP42||72,466|
|Furst
hAld by 5ruuudfmy|||||10,050|||93,560||93,560||10,050|
|Total ofGanef sf FUAd|||||69, 32|||61,216||722392|41,240|630,7|
|Desfgneted|||||||||||||
|Sudf Contingency
Fund
Educauun
and Resasrdl|||Fund||40JOO
10497|||||||40,000
JB497|
||||||50,497|||||||0,497|
|Ractdclsd|||||||||||||
|J.Taylor page Bursary|||||53,030|||||||53,030|
|Legacy EAdawm ant||Hind|||42 rGS|||1,949||14,798||29,1OI|
|ReseBKh Ploisdu|||||||||||||
|BraAch FUAds|||||460||||||||
||||||95,443|||,94g||14,790|||
||||||84B6?2|||012|BB|72719|'112'lp|771807|
##
|CHARITY ONLY 31December 2019|CHARITY ONLY 31December 2019|CHARITY ONLY 31December 2019|Balance|||||||Balance|
|---|---|---|---|---|---|---|---|---|---|---|
||||1stJanuary|Transfem|Incame|Expenditure||Gaf/w||31stDac.|
|||||E||||6||E|
|General
Fund|||tvl2,271||659/t87|749,406||53,240||605492|
|Funds hakl by Brsnchm|||||37,044||39,190|||76,090|
|Total of General
Fund|||719,707||697+31|'
788+9|||, 40|68,682|
|Deelgnatod|||||||||||
|Staff ceattngency
I'und
Educsdan
nd Resmrch||Fund|40,000
18497|||||||40,000
18497|
||||58,497|||||||8,497|
|Restricted|||||||||||
|Jzaylor Page Bursary
Legacy Endowment
Fund
Research projects|||53E25
5,600||58,976||295
22,823|||53/f30
41,953|
|Branch Funds|||||||||||
||||sg,ses||||,118|||95,443|
||||837789||766307|at|714|asian|||
|30 GENERAL, DESIGNATED||AND RESflGCYED|FUNDS-2019|COMPARATIVE|||||||
|GROUP 31Decmnber|2019||Balance
1stJanuary|Tmn aI'ere|Income|||||Bala//ca
31stDec.|
|||||E||||||E|
|Genenrl
Rmd|||642,271||629443|719,462||53,240||605,592|
|Funds held by Branches|||77,436||3/7/44|39,190||||76,0M|
|Funds hekl by Subsldfarv|||10,050||83,622|83,622||||10,050|
|Total ofGeneral
Fund|||7,7||750,809|842,074|||,240|691, 32|
|Daalgrlatad|||||||||||
|Staff Conungency
H/nd
Educatke
and Research|Fund||40,000
I 49|||||||40,000
18
7|
|Rest/lclatl|||||||||||
|J.Taylor Page Bursary
Leaser Endawmsnt
Fund
Roses/ch Projects|||53+25
5,000||58,976||295|||53,030
41,953|
|Branch Funds||||||||||460|
||||||58 rl76|23,ite|||||
||||84'7 39||80978|868192||53|240|845872|
##
##
|32 NOTES TO THIE CASH FLOW STATEMENT|32 NOTES TO THIE CASH FLOW STATEMENT|32 NOTES TO THIE CASH FLOW STATEMENT|||2020|2019|
|---|---|---|---|---|---|---|
|a.|Re«oncillatlon
uf net Income / (expenditure)|||to net cash|||
||flow from opere«fog actlvftles||||||
||Net Income/
(expenditure
For the reporting||period|(as per the|||
||statement
of Hnandaf
acthdtfes)||||(73,785)|(2,167)|
||Depreclatlon
charges||||25,241|3i,424|
||(Gains) / losses on Investments||||(41,240)|(53,240)|
||Dlvldends,
Interest snd rents from Investments||||(12,645)|(10,857)|
||Loss / (profit) on sale of' fixed assets||||353|(229)|
||Lffe membership
Income||||(3,492)|(3,813)|
||(Increase) / decrease In stocks||||4,960|117|
||(Increase) / decrease
In debtors||||22,278|251|
||Increase/
(decrssse)
In creditors||||21,507|(15,324)|
||Net cash prov(dad
by (used In) operating|actlvltles|||(56,823)|(53/738)|
|b.|Analysis ofcash end cash equhralents||||||
||Brokers' deposit accounts||||70,128|104,710|
||Cash at bank and In hand||||242,830|330,564|
||Total cash and cash equivalents||||312,958|435,274|
##
||||||unrestricted
Funda|Reentered||
|---|---|---|---|---|---|---|---|
||||||Sane ra I
Designated|Funds|Total|
|||||Nota|Fund
Funds||2019|
||||||5
5|||
|Income 0'omr||||||||
|DanaVons and legacies||||||||
|Members subscrlptlons|and Donations||||367,159||36r7,159|
|Legades
ILSpecglc Donations||||||58,976|58,976|
|r
Gmrltl and Sponsorship|||||8,111||8,111|
|Total Danatlomr
and|Legacies||||375270|58976|434,246|
|Other Trading Acthrltlee||||||||
|Fundralslng
events Aurtlons|||and Draws||90,728||90,728|
|Trading income||||6|83,622||83,622|
|Total Other Trading|Acthrltles||||174,360||174 50|
|charitable
Acttvitles||||||||
|Training Income|||||156,378||156,378|
|Branch Activities|||||33954||33,954|
|tnvastmente||||7|10,857||10,857|
|Total Incame|||||760,809|58,976|009785|
|Expenditure
an:||||||||
|Raising
Furlds||||||||
|Direct mats offundralslng||events||28|58,948||58,948|
|Membership
Marketing|snd|Data Management||28|187,840||187+40|
|Trading||||28|53,478||53,478|
||||||300,266||300,266|
|Charitable
actlvlVes||||||||
|Research 8public Education||||28|120,974|23,11,8|144,092|
|Technical and advlsotT||||28|88,197||88,197|
|Media and Publications||||28|95,021||95/I2I|
|Training||||26|174,784||174,784|
|Other ACVVRlav||||28|62,832||62+32|
||||||541808|73 118|564928|
|Tohsl|||||842,074|23118|865,192|
|Net Income / expendNure|||||91265|S5858|55,40|
|Transfers between
funds||||||||
|Other mc urdsed sales|/ (losses)|||||||
|tgalrm/(Loss)
on lnveshnent|||assets||53,240||53,240|
||||||38,D25|35858|2,167|
|BALANCES AT 17ANUARV 2019|||||729,757
58r497|59r585|847r839|
|BALANCES Al' 31DECEMBER2019|||||691732
58497|S6,443|845 672|
||||||Page 35|||