##
|||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|
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|||||||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|
##
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##
|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|
##
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##
|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|
##
##
|16.|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|
##
##
|19.|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)
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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)|
##
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