2020-12-31-accounts - Gesgb

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		Page
Report of the Trustees	1	to	13
Report of the Independent Auditors	14 to		16
Statement of Financial Activities		17
Statement of Financial Position —Group	18 to		19
Statement of Financial Position —Charity		20
Stateritent ofCash Flows		21
Notes to the Statement ofCash Flows		22
Notlvk to the Financial Statements	23 to		37

						2020	2019
			Unrestricted	Restricted	Endowment	Total	Total
			funds	fund	fund	funds	funds
							Restated
		Notes
INCOME AND
ENDOWMENTS FROM Donations and legacies Income from trading		2	6,422 74,843			6,422 74,843	11,054 596,927
subsidiary Other trading activities Investment income Government grants		3 4	327,543 6,989 14,272		10,000 390	337,543 7,379 14,272	353,827 13,368
Total			430,069		10+90	440,459	975,176
EXPENDITURE ON Raising funds Expenditure &om trading		5 21	4,957 39,451			4,957 39,451	5,615 521,315
subsidiary
Charitable activities
Charitable purposes			417,733			417,733	744,456
Other			24,945			24,945	30,220
Total			487,086			487,086	1,301,606
NET EXPENDITURE
BEFOREGAINS AND			(57,017)		10,390	(46,627)	(326,430)
LOSSES
Net gains/(losses) on investments			(11,383)		7,485	(3,898)	80,405
NET
INCOME/(EXPENDITURE)			(68,400)		17,875	(50,525)	(246,025)
RECONCILIATION	OF
FUNDS
Total funds brought forward			414,408		16,624	431,032	717,726
as previously reported
Prior Year Adjustment		22	40,669			40,669
TOTAL FUNDS			386,677		34,499	421,176	471,701
CARRIED FORWARD

					2020	2019
		Unrestricted fllnds	Restricted fund	Endowment fund	Total funds	Total funds Restated
	Notes
FIXEDASSETS Tangible assets Investments	13 14	7,251 486,001		34499	7,251 520 500	45,358 703,729
		493,252		34,499	527,751	749,087
CURRENT ASSETS Debtors Cash at bank and in hand	15	87,365 106060			87365 106,060	186 451 73,429
		193,425			193,425	259,880
CREDITORS
Amounts falling due within one year	16	(300,000)			(300,000)	(529,099)
NET CURRENT ASSETS		(106,575)			(106,575)	~269,219)
TOTAL ASSETS LESS CURRENT LIABILITIES		386,677		34,499	421,176	479,868
PROVISIONS FOR LIABILITIES	18					(8,167)
NET ASSETS		386,677		34,499	421,176	471,701

				2019
				restated
FI1NIN		19	386,677	455,077
Unrestricted	funds		34499	16 624
Endowment	funds
			411,176	471,701

						2019
			Restricted	Endowment		Total
			fund	fulld		funds
FIXED ASSETS Tangible assets Investments	13 14	79251 48'7,691		34,499	7,251 522,190	45,358 712,024
		494,942		34,499	529,441	757,382
CURRENT ASSETS Debtors Cash atbank and in hand	15	31/00 38,690			316100 38,690	61,528 67,887
					70,590	129,417
CREDITORS
Amounts falhng due within one year	16	(245,359)			(245@59)	(493,991)
NET CURRENT ASSETS		~(374 769			~174,769)	~364,57
TOTAL ASSETSLESS
CURRENT LIABILITIES		320,173		34,499	354,672	392,806
PROVISIONS FOR
LIABILITIES						(8,167)
		320+73		34,499	354,672	384,639
FUNDS	19
Unrestricted funds					320,173	368,015
Endowment fiinds					34,499	16,624
TOTAL FUNDS					354,6'72	384,639

	2020	2019
Notes		restated
Cash flows from operating activities Cash generated from operations 1		(145,600)
Net cash used in operating activities	(159,741)
Cash flows from investing activities Purchase oftangible fixed assets Purchase of fixed asset investments	(943) (28,742)	(50,433)
Sale oftangible fixed assets Sale offixed asset investments Interest received Dividends received	206,229 87 7,292	45,280 268 13,100
Net cash provided by investing activities	183,923	8,215
Change in cash and cash equivalents in the reporting period	24,182	(137,385)
Cash and cash equivalents at the beginning ofthe reporting period	81,878	219,263
Cash and cash equivalents at the end ofthe reporting period	106,060	81,878

2.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES		2020	2019
	Donations			6,422	11,054
3.	OTHER TRADING ACTIVITIES			2020	2019
	Fundraising events Membership Sponsorships Magazine Room hire			50,533 238,571 19,787 26,819 1,833	95,812 199,344 13,083 41,822 3,766
				337,543	353,827
4.	INVESTMENT INCOME			2020	2019
	Dividend income			7,292	13,155
	Interest receivable			87	213
				~7379	13,368
5.	RAISING FUNDS
				2020	2019
	Investment manager fees			4,957	5,615
6.	CHARITABLE ACTIVITIES COSTS
	2020			Support
			Direct	costs (see
			Costs	note 7)	Totals
	Educational, newsletter	and directory	15,643	54,969	70,612
	Educational, conferences	and seminars	11,872	65,962	77,734
	Educational publications			10,994	10,994
	Membership services			272,244	272,244
	Donations and grants			10994	10994
	Charitable purposes		27,515	419,163	442,670

CHARITABLEACTIVITIES COSTS (continued)
2019	Direct	Support costs (see
	Costs	note 7)	Totals
Educational, newsletter and directory Educational, conferences and seminars Educational publications Membership services Donations and grants Total charitable purposes	49,985 2,986 119,497 15 172,383	150,523 180,628 30,105 210,732 30 106 602,093	150,523 230,613 33,091 330,229 30220 774,676

ublications and Donatio	ns 5%and	Conferences 30%.
2020 Membership Newsletter Publications Conferences Donations and grants Total			Staff 63,288 45,206 9,041 54,249 9041 ~1L826	General 68,352 48,823 9,764 58,586 ~9764 ~1~29	Depreciation 13,667 9,762 1,952 11,716 ~1952 M~49
2019 Membership Newsletter Publications			Staff 114,802 82,001 16,400	General 94,967 67,833 13,567	Depreciation 963 689 138
Conferences Donations and grants Total			98,403 16400 328 004	81,400 827 271 332	827 138 2757
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated	after charging/(crediting):		2020	2019
Auditors' remuneration	—previous	auditor		32,890	34,195
Audit fee —current				7,000
Depreciation —owned assets				39,050	2,757
Hire ofplant and machinery				3,287	741

STAFFCOSTS
			2020	2019
Wages and salaries Social security costs Other pension costs			231,874 22,893 6,058	289,095 30,773 8,136
			260,825	328,004
The average monthly	number ofemployees	during the year was as follows:
Staff			2020 8	2019 8

restated
	Unrestricted	Restricted	Endowment	Total
	funds	fund	fund	funds
INCOME AND ENDOWMENTS FROM
Donations and legacies Trading activities ofsubsidiary Other trading activities Investment income	11,054 596,927 353,827 13,368			11,054 596,927 353,827 13,368
Total	975,176			975,176
EXPENDITURE ON
Raising funds Expenditure &om trading subsidiary Charitable activities	5,615 521,315			5,615 521,315
Charitable purposes	744,456			744,456
Other	30,220			30,220
Total	1,301,606			1,301,606
Net gains/(losses) on investments	81,393		(988)	80,405

11.	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES— restated - continued	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES— restated - continued	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES— restated - continued	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES— restated - continued
		Unrestricted	Restricted	Endowment	Total
		funds	fund	fund	funds
	NET INCOME/(EXPENDITURE)	(245,037)		(988)	(246,025)
	RECONCILIATION OFFUNDS
	Total funds brought forward	700,114		17,612	717,726
	TOTAL FUNDS CARRIED
	FORWARD	455,077		16,624	471,701
12.	INTANGIBLE FIXEDASSETS
					Computer
					software
	COST
	At 1January 2020				10,252
	Disposals				(10,252)
	At 31December 2020
	AMORTISATION
	At 1 January 2020				10,252
	Eliminated on disposal				~10,252)
	At 31December 2020
	NKT BOOK VALUE
	At 31December 2020
	At 31December 2019
	Software is written offover athree year period straight line.

Nature ofbusiness: Organising confer	Nature ofbusiness: Organising confer	ences
Class ofshare:		holding
Ordinary		100	2020	2019
Aggregate Profit for	capital and reserves the year		68,220 35,442	88,778 75,825

Associated companies
Petroleum Geology Conferences	Limited
Registered office:
Nature ofbusiness: Half periodic	petroleum	geology conferences
		0/
Class ofshare		holding
Ordinary		33	2020	2019
Aggregate capital and reserves Profit for the year			1,542	1,542 1,459
This company was wound up on	25'" May	2021.

Devex
Registered office:
Nature ofbusiness: Organising	conferences	and exhibitions
Class ofshare:		holding
Unincorporated		33
			2020	2019
Aggregate capital and reserves Profit for the year			4,000	4,000 4,000

Investments exceeding 5%ofportfolio
	2020		2019
		Market Value		Market Value
	Units		Units
Liontrust	25,864.87	37,168	25,864.87	35,642
Artemis	14,422.29	14,376	47,495.30	46,973
BlackRock Charishare	15,067.76	71,596	11,192.78	77,432
Jupiter Merlin Growth	8,580.07	39,855	8,583.07	37,955
Aegon Legal4 General	33,457.25 72,697.98	49,804 58,086	33,457.25 79,222.84	48,720 59,092
LFWoodford			31,957.41	26,950
MkG Charifund			4,597.77	76,355
Margetts	9,703.96	46,128	9,703.96	42,074
Premier Multi-Asset	12,318.35	24,452	21,184.12	41,457
Royal London Sustainable	23,177.09	71,409	23,177.10	49,403
Jupiter Merlin Balanced	25,886.49	35,154
Charibond Charities Fixed Interest	24,374.25	30,585

DEBTORS: GROUP	AMOUNTS FALLING DUE WITHIN	ONE YEAR
		2020	2019
Trade debtors		82,699	85,957
Other debtors		1,608
Prepayments	and accrued income	3,058	100,494
		87,365	186,451
CHARITY
		2020	2019
Trade debtors		29,170	24,484
Other debtors		1,608
Prepayments	and accrued income	1,122	37,044
			61,528

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
GROUP	2020	2019
		restated
Trade creditors	64,270	309,689
Social security and other taxes	17,335	27,679
VAT	56/71	27,467
Other creditors	75,639	20,678
Deferred income	86385	143,586
	300,000	529,099
	2020	2019
Trade creditors	47,645	128,572
Amounts owed to group undertakings	130,807	231,186
Social security and other taxes	7,795	18,139
VAT	13,877	22,826
Other creditors	9,524	7,322
Accruals and deferred income	35,711	85,946
	245,359	493,991

			2020	2019
	Within	one year		17,307
	Between one and five years			488
				17,795
18.	PROVISIONS FORLIABILITIES
			2020	2019
	Provls	ious		8,167

M6VK+NT 6ISUITS -GROS'
		mo.	ent	t
	At 1/1)20	i'!	mls	0/20
'
ktII&I, , d@tiks tttIi.a keyast s &till. fttnds g	I 8(Ii 8	(l (3 ]	2) I)) 8)	3(l I 04 ,' kI3 5 i20
1	455,07"If	(tiIt„4)d)
It5II)felkll feslll)l
ilk'ictetI Itic
458bwgtI4t funds Atett Reed ntetrtdiial ~d	18,4/4	I),)75		ifr699
.~tdi~	67i,fdi	~%II,515)		+4))76

Ndt trio( extent in htttti	s, ittchitteti iti t	Ite above A d.k,allow	s:
		Iitcoritihg	Resoui.hbs	Gains had	MovI)ment
		re55IIIees	expentt8d	Istslss	itt ds
Uttkestgliled fun'					II
t3enerai @ted			(4OS,85$	44,k(7	ISi)52)
hat:d assk(s			(Ad, lla85)		(3)j&o)
fi.k3iitg 4ttds				I5I),llllll)	(ktl5558)
keen ke6tt ttieittorial	Iltttd	III,)ob			fl,875
f6'fAf. kVN11S		36I),&59	ii57, IIIIIIII55)	~3&&II)	~ill(025)

				Npt
				ruovelnent	At
			At l/1/j9	jest fpnds	31/12/19
UnretIjg	I:etjfnutjs
Geqprqf	d		623,223	(30)$37)	3j8,$86
Fixe'tI ass ts Tratjipg fords			37 ~7fj64,	404676	47,'7j3 ~88, 78
			700,1j4	(345,037)	455,077
Re))ttjgjpP funds
Restt'Iptpg
~n9P7pj'lit fu'les
Way)jt IIjI:tId mernpri4jl		fpptj	j7,612	(988)	167624
T4)T4'$	p)NDp		~77,7?6	Q46$L26)	~47 Ql
				fans/losses

			Incptnijjg	gqspjlrces	Gq		Movetjtent
			resources	expeIided	anil	trapsfers	in fpprjs
UnrjIsf	opted fp$s		378,037	(777,$34)		98I,'lj60	(304,537)
Fixe) (t )its TratIIIIII IIItnds			597,j)9	P 7217) (SgI,)j5)	5jj,$)3 &)))j,(68)		47,jl/6 11,Ij24
Eats	ment fun)Ij
Kaj jj	eed mega	j4jIQptj				(jIII8)	(tw3jS)
TQ,); UND )		It		()+3),6 66)			~24. j

				Net)
				meVetrlent	+t
			A1 I/,1/20	lit. , J'S	31/fZ/2b
Unrestricted General fiend Fixed assets	ftititis		kid,Qz 47713		311,0$o 8,6II3
			367,510	(k7,84))
Restricted funds
Restricted fund			soo		siIi)
Rtttlt)ament Karen Reed	flitids melnorial	fund	16,624	i'17875	34k,359
TOTALNU	NKS		384,633	~26667)	35k,602

Net movemen	t itl fhnd	s, included in	ttie above are As follo	ws:
			Incoming	Resources	Gains/losses	Movelnent
			resdurces	expended	and transfers	&knds
						E
Unrestricted	fitnds
General fuild			411,176	(4O8,585)	(11,383)	(S,79')
Fixed assets				(39,osO)		(39,oso)
Endt)wmekt	ftthds
Karen Reed	themorial	fund	1O,390		7,485	1 /875
TOTAL F1JN11S			421,566	~447,698)	~9,898)	~29/67)

				Ne&
				movemeut	At
			At 1/1/19	in funds	31/12/19
Uql qstrtpteii Getterai fund	funds		623,223	(303P-I)	3(9,802
Fixed assets			37	47,676	47,713
			623,260	(255,745)	367,515
Restricted f Imps Restricted fqn81				500	500
Endowment	funds
Karen Reed	memorial	fund	17,612	(988)	16,624
			640,872	(256,233)	384,639

			Incoming	Resources	Gains/losses	Movement
			resources	expended	and transfers	in funds
Unrestricted	funds
General fund			442,462	(776,843)	30,960	(303,421)
Fixed assets				(2,757)	50,433	47,676
Restricted funds
Restricted fund			500			500
Endowment	funds
Karen Reed	memorial	fund			(988)	(988)
TOTAL FUNDS			442,962	~779,600)	80,405	~256,233)