| Page | |
|---|---|
| Reference andadministrative details of the company, its Trustees and advisers | 1 |
| Trustees'report | 2-14 |
| lndependentauditor'sreport on thefinancialstatements | 15-18 |
| Statement offinancial activities | 19 |
| Balancesheet | 20 |
| Statement of cashflows | 21 |
| Notesto thefinancialstatements | 22-39 |
| Subjectarea | lmpact | Rankingin | Total | Full-text | |
|---|---|---|---|---|---|
| Journal | (Worldof | Factor | 'microbiolog | articles | downloads |
| Science(WoS)) | v' | published | (HTMLand | ||
| (WoS /134) | pd0 | ||||
| FEMSMicrobiology Ecology |
Microbiology | 4.194 | 50 | 200 | 1,468,481 |
| FEMS Microbiology Lefters |
Microbiology | 2.742 | 95 | '153 | 2,041,271 |
| Pathogens and Disease |
N/Iicrobiology | 3.166 | 81 | 72 | 1,120,527 |
| FEMS Microbiology Revlews |
tVlicrobiology | 16.408 | 6 | 72 | 1,633,668 |
| FEMSYeast | |||||
| Research | lMicrobiology | 2.796 | 9'1 | 79 | 570,825 |
| FEMS microbes | IVlicrobiology | N/A | 18 | '16,766 | |
| microLife | Microbiology | N/A | 19 | 28,153 |
| Combinedapplicationrounds | Combinedapplicationrounds | Valueof | |
|---|---|---|---|
| Grantname | Number | NumberGrants | awarded |
| Meeting Organizer Grants (MOG) | Applications 18 |
awarded 15 |
grants(EUR) 94,500 |
| Research and TrainingGrants | |||
| (RrG) | 39 | 33 | 116,000 |
| MeetingAttendance Grants (MAG') WMFAttendance Grants(CAG') |
4 267 |
3 251 |
1,500 60,521 |
| FEMS- | |||
|---|---|---|---|
| ESC[NID | DrEmelfMataracr-Kara | TheEuropeanSocietyof Clinical | |
| Award | (lstanbulUniversity, lstanbul,Turkey) |
Microbiology andlnfectious Diseases (ESCIVID) selects the |
EUR1000 and |
| bestclinicalmicrobiology-related | complimentary | ||
| FEIVISgranteetobetheFETVS- | registration to | ||
| ESCI\llDAwardee. | ECCMID | ||
| DrMarialsabelVeiga | TheEuropeanSocietyof Clinical | EUR1000 and | |
| (University of Minho,Braga, Portugal) |
Microbiology andlnfectious Diseases(ESCMID) selects the bestclinicalmicrobiology-related |
complimentary registration to |
|
| FEMS granteetobetheFEMS- | ECCTVIID | ||
| ESCMID Awardee. | |||
| SpecialMerit | Dr Rich Boden | Createdin2003toacknowledge | |
| Award | (University of Plymouth,UK) Prof MaxHaiggblom |
individualswhohave made special contributions to furtherthe |
|
| (Rutgers University, USA) | objectivesandoperation ofFEIVS. | ||
| FEMS | 22recipients ofthese | TheFEMSJournals awardPoster& | |
| Journal | awards across8eventsin | Oral PresentationPrizes tothebest | |
| Poster Awards |
2021 (full list here: httos://fems- |
presentersat a rangeof microbiology events thatwe |
EUR'150-250 |
| microbioloqy.oro/about fems/networ k-and-activities/awards/poster-oral- |
support. | ||
| presentation-prizes0 | |||
| 32authors selectedshared | The editorsofeachoftheseven | ||
| FEIVIS | the sevenFEMsjournalsin | FEMSjournalsselectthebest | |
| Journal Article |
2021 (fulllist here: https://fems- |
articles publishedeachyearin terms of research,impact or |
'1,000 perjournal |
| Awards | microbioloqv.orq/about fems/networ k-and-activities/awards/article- |
originality. Co-authorsshare the | |
| awards/) | prize. |
17 May 2022
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | ||
| Note | € | € | € | € | |
| INCOMEFROM: | |||||
| Donations | 3 | 41,136 | 41,136 | 39,563 | |
| Charitable activities | 4 | 2,949,195 | 2,948,195 | 2,728,458 | |
| lnvestments | 5 | 319,524 | 319,524 | 249,57s | |
| TOTALINCOME | 3,308,955 | 3,308,8553,017,596 | |||
| EXPENDITURE ON: | |||||
| Raisingfunds: lnvestmentmanagement fees Charitableactivities |
6 7 |
61,196 1,133,765 |
61,196 1,133,765 |
43,390 1,540,409 |
|
| TOTALEXPENDITURE | 1,194,961 | 1,194,9611,593,799 | |||
| NETINCOME BEFORENET GAINS | |||||
| ONINVESTMENTS | 2,113,994 | 2,113,894 | 1,433,797 | ||
| Net gainsoninvestments | 3,027,407 | 3,027,407 | 320,548 | ||
| NET INCOME | 5,141,301 | 5,141,3011,754,345 | |||
| Transfersbetweenfunds | 19 | (14,033) | 14,033 | ||
| NETMOVEMENT IN FUNDSBEFORE | |||||
| OTHER RECOGNISEDGAINS | 5,127,269 | 14,033 | 5,141,3011,754,345 | ||
| OTHERRECOGNISED GAINS | |||||
| Gains on investment cash | 30,915 | 30,9{5 | 507 | ||
| NETMOVEMENT INFUNDS | 5,158,183 | 14,033 | 5,172,2161,754,952 | ||
| RECONCILIATION OFFUNDS: | |||||
| Total fundsbroughtfonruard | ,10 | 15,971,337 | 110,493 | 16,081,830 | 14,326,978 |
| Netmovementinfunds | 5,159,{g3 | 14,033 | 5,172,216 | 1,754,852 | |
| TOTALFUNDSCARRIEDFORWARD | 21,129,520124,526 | 21,254,046 | 16,0g1,g30 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | € | cE | |||
| FIXED ASSETS | |||||
| Tangibleassets | 14 | 3,992 | 5,480 | ||
| lnvestments | 15 | 21,036,307 | 15,389,543 | ||
| 21,040,295 | 15,395,023 | ||||
| CURRENTASSETS | |||||
| Debtors | 16 | 992,942 | 827,002 | ||
| Cash at bankandin hand | 2,892,292 | 3,605,864 | |||
| 3,885,234 | 4,432,866 | ||||
| Creditors: amountsfallingduewithinone year |
17 | (3,165,270) | (3,119,099) | ||
| NETCURRENT ASSETS | 719,964 | 1,313,767 | |||
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 21,760,263 | 16,708,790 | |||
| Creditors:amountsfallingdueaftermore | |||||
| than oneyear | 18 | (506,2',171 | (626,e60) | ||
| TOTALNETASSETS | 21,254,046 | 16,081,830 | |||
| CHARITYFUNDS | |||||
| Restrictedfunds | 19 | 124,526 | 110,493 | ||
| Unrestrictedfunds | 19 | 21,129,520 | 15,971,337 | ||
| TOTALFUNDS | 21,254,046 | 16,08'1,830 |
| 2021 | 202A | ||
|---|---|---|---|
| Note | € | € | |
| CASH FLOWSFROMOPERATING ACTIVITIES | |||
| Netcashused in operating activities | 21 | ',1,557,9941,264,253 | |
| CASH FLOWSFROMINVESTING ACTIVITIES | |||
| Dividends,interestsandrentsfrominvestments | 319,524 | 249,575 | |
| Purchase oftangible fixedassets | 12,6481 | (1,389) | |
| Net cashtransferred toinvestment portfolio | (2,519,357) | (1,292,063) | |
| NETCASHUSED IN INVESTING ACTIVITTES | (2,302,4811 | (1,043,9771 | |
| CASH FLOWS FROMFINANCINGACTIVITIES | |||
| Gainsoninvestedcashdueto exchangerates | 30,915 | 506 | |
| NETCASH PROVIDED BYFINANCING ACTIVITTES | 30,915 | 506 | |
| CHANGEIN CASHAND CASH EQUIVALENTSIN THEYEAR | (713,5721 | 220,992 | |
| Cash and cashequivalentsatthebeginning of the year | 3,605,964 | 3,384,982 | |
| CASHAND CASH EQUIVALENTS AT THEEND OF THEYEAR | 22 | 2,892,292 | 3,605,964 |
| Thenotes on pages22lo39formpartofthese financialstatements |
THE FEDERATION OF EUROPEAN MICROBIOLOGICAL SOCIETIES (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES (CONTINUED)
1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION
The charity has a policy of not capitalising portable computer equipment or items where the original cost is less than €1,500 and they are fully written off in the year of purchase.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives on the following basis:
Office equipment 25% straight line
1.8 INVESTMENTS
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/(Losses) on investments' in the Statement of Financial Activities.
1.9 OPERATING LEASES
Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.
1.10 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.11 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 24
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| € | € | € | |
| Membershipsubscriptions | 41,136 | 41,136 | 39,563 |
| fobl2020 | 39,563 | 39,563 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| € | € | € | |
| lncomefromjournals | 2,744,663 | 2,744,663 | 2,713,158 |
| Conferenceincome | 203,532 | 203,532 | 15,300 |
| Total2021 | 2,948,195 | 2,949,195 | 2,729,458 |
| Total2020 | 2,728,458 | 2,728,458 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| € | € | € | |
| lncome from equities | 319,383 | 319,383 | 247,546 |
| Bankinterestreceivable | 141 | 141 | 2,029 |
| Total2021 | 319,524 | 319,524 | 249,575 |
| Tolal2020 | 249,575 | 249,575 |
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| € | €, | € | |
| lnvestmentmanagementfees | 61,196 | 61,196 | 43,390 |
| Total2020 | 43,390 | 43,390 |
| ANALYSIS OF GHARITABLE | EXPENDITURE | BYACTIVITIE | S | ||
|---|---|---|---|---|---|
| Grant& | |||||
| Awards | Support | ||||
| Direct costs | costs(note | costs(note | |||
| (note8) | e) | 10) | 2021 | 2020 | |
| € | € | € | € | € | |
| Publications | 44,585 | 6,800 | 96,242 | 147,627 | 367,256 |
| Events | 230,599 | 46,639 | 277,238 | 178,256 | |
| GrantsandAwards | 48,577 | 126,943 | 46,100 | 221,620 | 551,137 |
| Projects | 43,295 | 57,410 | 100,705 | 88,357 | |
| BusinessDevelopment and | |||||
| Support Services | 115,858 | 91,042 | 206,900 | 195,396 | |
| Communications | 133,575 | 46,'100 | 179,675 | 160,007 | |
| Total2021 | 616,489 133,743383,533 | 1,133,765 | 1,540,409 | ||
| Tolal2A20 | 629,151 471,171440,087 | 1,540,409 |
| Other | |||||
|---|---|---|---|---|---|
| direct | |||||
| Staff costs | costs | 2021 | 2020 | ||
| € | € | €. | € | ||
| Publications | 55,015 | (10,430) | 44,585 | 246,097 | |
| Events | 124,520 | 106,079 | 230,599 | 102,302 | |
| GrantsandAwards | 48,577 | 48,577 | 49,723 | ||
| Projects | 13.771 | 29,524 | 43,295 | 27,137 | |
| BusinessDevelopment andSupportServices | 691 | 115,167 | 115,858 | 99,983 | |
| Communications | 77.409 | 56,166 | 133,575 | 103,909 | |
| Tolal2021 | 319,983 | ___296.506 | 6 | 16,489 | 629,151 |
| Grants to | Grantsto | |||
|---|---|---|---|---|
| lnstitutions | lndividuals | Total | Total | |
| 202',1 | 2021 | 202',1 | 2020 | |
| E | € | € | € | |
| Grants Awards Total falal2020 |
65,906 56,671 65,906 ---qz.q97 166 241t456--m,715 |
122,577 11,166 _-133f43 _47:,111 |
462,374 8,797 471,171 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| € | € | |||
| GrantsPayable | ||||
| Grantsto institutions | ||||
| l\ileetingOrganizer Grants | 89,500 | 241.456 | ||
| Less refundsrelatingto Meeting Organizer Grants | {23,594) | |||
| TotalGrantsto institutions | 6s,906 | 241,456 | ||
| Grantstoindividuals | ||||
| MeetingAttendance Grants | 900 | (680) | ||
| ResearchandTraining Grants | 97,000 | 201,743 | ||
| Conference Grants | 60,52{ | 19,855 | ||
| 158,421 | 220,918 | |||
| lmpactinScience Communication Award | 1,000 | |||
| FEMS/ESCMIDAward | 1,000 | 1,000 | ||
| Article Awards | 6,800 | 5,005 | ||
| Lwoff Award | 1,000 | |||
| Grant Committee travel and development | 1,320 | |||
| Other GrantsandAwards | 1,366 | 1,472 | ||
| Less refundsrelatingto Research&Training Grants | (101,750}. | |||
| TotalGrantsto individuals | 67,837 | 229,V5 | ||
| Total | 133,743 | __jll_Jl1 | ||
| en* | ||||
| Page29 |
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(lh | NoNo |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Fees payable to the company's auditor fortheaudit of the company's | ||
| annualaccounts | 8,886 | 8,800 |
| Fees payable tothecompany'sauditor inrespect of other services | ||
| All taxationadvisoryservicesnot included above | 3,287 | 2,200 |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Dutchstaffremuneration | 400,685 | 411,946 |
| Dutchstaff socialsecurity costs | 59,424 | 55,342 |
| Dutchstaff pensioncosts | 37,521 | 33,559 |
| 497,630 | 500,847 |
| 2021 | 2020 |
|---|---|
| No. | No. |
| 9 | 8 |
| 2021 No. |
2020 No. |
||
|---|---|---|---|
| lntheband€80,001 | -€90,000 | 1 | 1 |
| Office | |
|---|---|
| equipment | |
| € | |
| Cost or valuation | |
| At1January2021 | 38,732 |
| Additions | 2,648 |
| At 31 December2021 | 41,390 |
| Depreciation | |
| At1January2021 | 33,252 |
| Charge fortheyear | 4,136 |
| At31December2021 | 37,388 |
| Netbook value | |
| At31December2O2l | 3,992 |
| At31December2020 | 5,480 |
| Listed | Cash | ||
|---|---|---|---|
| investments | investments | Total | |
| € | € | € | |
| Cost or valuation | |||
| Al1January2021 | 14,927,237 | 462,307 | 15,389,544 |
| Additions | 2,505,539 | 2,505,539 | |
| Disposals(Proceeds €754,661) | {717,6451 | (717,6451 | |
| Revaluations | 2,999,911 | 2,999,911 | |
| Movementin cash | 858,958 | 858,958 | |
| AT 31DECETMBER 2021 | 19,715,0421,321,265 | 21,036,307 |
| 2021 | 202A | ||
|---|---|---|---|
| € | € | ||
| Trade | debtors | 631,079 | 708,627 |
| Other | debtors | 361,863 | 118,375 |
| 992,942 | 827,002 | ||
| e{l{ |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Trade creditors | 48,740 | 35,006 |
| Othertaxationand socialsecurity | 393,929 | 367,127 |
| Accruals | 69,396 | 231,477 |
| Deferredincome | 2,250,229 | 2,047,117 |
| Grantspayable | 402,977 | 438,372 |
| 3,165,270 | 3,11g,0gg | |
| 2021 | 2020 | |
| € | € | |
| Reconciliation of grantspayable: | ||
| Grantspayable broughtfonruard | 438,372 | 118,150 |
| Commitments made(net ofwritebacks) | 133,743 | 472,476 |
| Grantspaid | (169,138) | (152,254) |
| Grants payable carried forward | 402,977438,372 |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Deferredincome | 506,217 | 626,960 |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Deferredincome broughtfonrvard | 2,644,077 | 2,909,576 |
| Resourcesdeferredduringtheyear | 2,129,495 | 1,814,973 |
| Amountsreleasedfrom previousperiods | (2,017,1171 | (2,080,472) |
| Deferred income carried forward | 2,756,445 | 2,644,077 |
| Balanceat | |||||
|---|---|---|---|---|---|
| Balanceat1 | 31 | ||||
| January | Transfers | Gains/ | December | ||
| 2021 € |
lncomeExpenditure €€ |
in/out € |
(Losses) € |
2021 IE |
|
| Unrestricted | |||||
| funds | |||||
| GeneralFunds | 15,971,337 | 3,308,855(1,194,961)(14,033) | g,O5,g,g22 | 21,129,520 | |
| Restricted | |||||
| funds | |||||
| Restricted fund - | |||||
| Jensenaward | 110,493 | {4,033 | 124,526 | ||
| Totaloffunds | 16,081,830 | 3,308,855(1,194,961) | 3,058,322 | 21,254,046 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | 31 | |||||
| 1January | Transfers | Gains/ | December | |||
| 2020 | lncome | Expenditure | iniout | (Losses) | 2020 | |
| cE, | € | cE. | € | cE, | cE. | |
| Unrestricted | ||||||
| funds | ||||||
| GeneralFunds | 14.226,712 | 3,017,596 | (1,ss3,799)(10,227) | 3z1,oss | 1s,971,337 | |
| Restricted | ||||||
| funds | ||||||
| Restrictedfund- | ||||||
| Jensenaward | 100,266 | 10,227 | 110,493 | |||
| Totaloffunds | 14,326,978 | 3,017,596 | (1,583,799) | 321,05s | 16,081,830 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| € | € | € | |
| Tangible fixedassets | 3,992 | 3,992 | |
| Fixedassetinvestments | 20,911,781 | 124,526 | 21,036,307 |
| Currentassets | 3,88s,234 | 3,885,234 | |
| Creditors duewithinoneyear | (3,165,270) | (3,165,270) | |
| Creditors duein morethanone year | (506,217) | (506,2171 | |
| Total | 21129,520124,526 | 21,254,046 |
| ANALYSIS OFNETASSETS BETWEENFUNDS | .PRIORYEAR | ||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| cE, | cE. | € | |
| Tanglble fixedassets | 5,480 | 5,480 | |
| Fixedassetinvestments | 15,279,050 | 110,493 | 15,389,543 |
| Currentassets | 4,432,866 | 4,432,866 | |
| Creditors duewithinone year | (3,11e,099) | (3,119,099) | |
| Creditorsduein morethanone year | (626,960) | (626,960) | |
| Total | 15,971,337110,493 | 16,081,830 |
| 2021 | 2020 | |
|---|---|---|
| € | € | |
| Net income for the year (as per StatementofFinancial Activities) | 5,141,301 | 1,754,345 |
| Adjustmentsfor: | ||
| Depreciationcharges | 4,136 | 4,478 |
| Gains on investments | 13,027,4071 | (320,548) |
| Dividends,interestsandrentsfrominvestments | (319,5241 | (249,575) |
| lncreaseindebtors | (165,940) | (109,816) |
| lncrease/(decrease)increditors | (74,572l. | 185,369 |
| Netcash providedbyoperatingactivities | 1,557,994 | 1,264,253 |
| 2021 | 2020 | |
|---|---|---|
| € | c | |
| Cashin hand | 2,892,292 | 3,605,864 |
| Totalcashand cash equivalents | 2,892,292 | 3,605,864 |
| Changesin | |||
|---|---|---|---|
| market | |||
| valueand | |||
| Atl | exchange | At31 | |
| January 2021 € |
rate Cashflowsmovements €€ |
December 2021 € |
|
| Cashatbankandin hand | 3,605,864 | (744,4871 30,915 | 2,992,292 |
| 3,605,864(744,497)30,915 | 2,992,292 |