REGISTERED COMPANY NUMBER: 06447148 (England and Wales) REGISTERED CHARITY NUMBER: 1141524
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2021
for
Subterranea Britannica
R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG
Subterranea Britannica
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 13 |
| Detailed Statement of Financial Activities | 14 |
Subterranea Britannica
Report of the Trustees for the Year Ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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Subterranea Britannica
Report of the Trustees for the Year Ended 31 December 2021
Our underground heritage is immense and historically important, but often has little statutory or other protection and thus is always 'at risk' from neglect or commercial development. Subterranea Britannica focuses on the study, recording and preservation of this heritage.
The continuing Covid-19 pandemic, and restrictions imposed by the government in response to this, meant that we were again unable to hold our traditional Spring Conference or arrange any site visit for most of the year. Instead, we continued our popular programme of "In the Dark" webinars, a series of wide-ranging talks by invited experts speaking on a diverse range of subterranean topics. These continue to be open to the public, without charge, and are also available for subsequent viewing on YouTube. Since their inception in May 2020, these talks have had 38,000 viewings.
We have also continued to add to our public database of subterranean sites and to our public archive of the Society's publications.
1) Background
Subterranea Britannica was formed in 1974. It was incorporated as a company limited by guarantee in 2007 and became a registered charity in 2011. These structural changes did not alter our mission - to ensure that our underground heritage is more widely understood and appreciated.
2) Reference and Administrative Details
The full name of Subterranea Britannica is often abbreviated to 'Sub Brit' in day-to-day activity. Subterranea Britannica is a registered charity (number 1141524), and a not-for-profit company limited by guarantee (number 06447148). The charity's registered office is at Heathend Cottage, Windsor Road, Ascot SL5 7LQ.
As of 31 December 2021, the Trustees of Subterranea Britannica were as follows: (Company status indicated in brackets)
Martin Dixon (Director) Linda Dixon (Director) Tony Radstone (Director) Richard Seabrook (Director) Bob Templeman (Director) Tim Wellburn (Director) Richard West (Director)
Banking services are provided by: Unity Trust Bank PLC Nine Brindleyplace Birmingham B1 2BR
3) Structure, Governance and Management
Subterranea Britannica's activities are organised and governed according to a Memorandum and Articles of Association. Management of the charity is vested in a committee that is elected at each annual general meeting (AGM). Any adult member of Subterranea Britannica may stand for election. We held our 2021 AGM online, on 27 March 2021, with a good attendance of 71 members.
The trustees of the charity (and directors of the company) are drawn from the officers and established members of the committee. Many other members who are not on the committee play major roles in helping the charity to achieve its goals, under the guidance of the elected committee. The committee met three times in 2021, on each occasion online because of continuing Covid-19 restrictions. We maintain an active online dialogue, in which discussions are held and issues resolved outside the formal meetings. Significant online decisions are ratified and minuted at the following committee meeting. Summaries of committee meetings are published for the information of members.
The committee is also responsible for managing risk. Three major areas are routinely monitored:
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Subterranea Britannica
Report of the Trustees for the Year Ended 31 December 2021
- Health and Safety, especially with regard to potential hazards attaching to Society visits to underground spaces; - Security of data held to ensure it is protected from unauthorised access and securely backed-up; - Financial reserves of the charity.
Subterranea Britannica has no paid staff and relies on the generous donation of time and energy from many of its committed members. The committee always strives to ensure that Subterranea Britannica operates as cost-effectively as possible to maximise the benefit of subscriptions and donations.
4) Financial Review
The Trustees reviewed Subterranea Britannica's year-end reserves at their meeting on 15 January 2022. Our target is to have financial reserves equivalent to 6-18 months of annual incoming resources to cover any short-term reduction in membership income, to cope with unexpected costs (such as outsourcing activities currently done by volunteers), and to ensure that we have ready funds available for worthy projects. The current year-end reserves are above this band but the Committee is content with the position given the past two years' constraints on activities. As we operate on a cash accounting basis, an element of the reserves represents subscriptions paid in advance.
Membership numbers increased slightly during the year, ending at 984 paid-up members, compared with 953 at the close of 2020. We continue to benefit from the UK Government's Gift Aid scheme. None of the society's funds is restricted in their application across our charitable aims. Donations totalling £13,400 were paid to qualifying projects during the year.
5) Objectives and Activities
The society's objectives are to advance education and science for the public benefit by the study, understanding, recording and (where practical) the preservation and protection of man-made and man-used underground structures, objects and spaces. The Trustees of Subterranea Britannica have complied with their duty under section 4 of the Charities Act 2006 in having due regard to the public benefit guidance published by the Charity Commission.
Key activities undertaken through the year include:
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Publication of three editions of our magazine Subterranea.
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Provision of the website www.subbrit.org.uk.
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Use of social networking channels to reach over 12,400 subscribers.
-
Continuation of our "In the Dark" programme of webinars, delivering 13 online talks, on a wide range of subterranean topics.
-
Addition of editions 49-52 of the Society's magazine Subterranea to the publicly accessible archive which we established in 2020 with editions 1-48, dating from January 2003.
-
Sourcing and placing on this archive a copy of every one of our other publications from the date of the Society's inception, namely: Bulletins 1-32 (1975-84); Newsletter 1-14 (1984-88); Secretary's Newsletter 1-25 (1988-2002); and Siren 1-10 (1986-2002).
-
Maintenance of links with other groups who share our interests and objectives.
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Responding to enquiries received from the public and professionals.
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Undertaking a substantial membership questionnaire, designed to help guide the future development of the Society, achieving a very good response rate of 38%.
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Arranging an underground site visit, once Covid-19 restrictions permitted this.
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Holding an Autumn Conference, with an associated day of underground visits.
Subterranea Britannica invites applications for grant support, the Committee focusing on projects that provide public benefit. In 2021, as well as paying a number of previously authorised grants, we approved and made a new grant of £2,700 to the British Cave Rescue Council to subsidise the cost of equipping the 16 UK and Ireland cave rescue teams with a newly developed casualty evacuation bag and a casualty jacket of improved design. The Committee sees this type of funding as a vital part of our activity.
The charity's website, webinars and past publications are all open to the public and we have striven to publicise these to a wide audience. For reasons of insurance, underground site visits will continue to remain limited to the Society's members. Membership fees remain at a level that the committee believes is affordable, and compare favourably with those of many similar charities.
6) Future Plans
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Subterranea Britannica
Report of the Trustees for the Year Ended 31 December 2021
We will review and act on the input from our recent Members' Questionnaire and will continue to seek to engage members in volunteering to help contribute to the activities of the Society.
We intend to resume in 2022 those of our "normal" activities, including site visits, which have been suspended over much of the past two years as a result of Covid-19 restrictions. Our "In the Dark" webinars proved very popular, attracting audiences beyond our membership, and will be continued for as long as is feasible. The public website (www.subbrit.org.uk) represents our main 'shop window' and we will continue to extend our coverage of underground locations as a valuable resource to the general public and researchers. We will also continue to add editions of our magazine Subterranea to our public archive.
In 2022 we are planning a Spring Day Meeting in London, with an associated site visit, and a Study Tour of Belgian and French underground fortifications. Other underground visits will be undertaken as soon as those responsible for the sites are in a position to make the necessary arrangements.
Subterranea Britannica remains keen to increase public awareness and appreciation of underground sites, and we will continue to work in partnership with site owners, other charities and statutory authorities to record, sign and interpret such locations. Our relationship with continental European groups is also important and we are represented on the International Union of Speleology 'Artificial Cavities' Commission.
On behalf of the Trustees Tim Wellburn, Chairman
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06447148 (England and Wales)
Registered Charity number 1141524
Registered office
Heath End Cottage Windsor Road Ascot Berkshire SL5 7LQ
Trustees
L J Dixon A M Dixon R M Templeman A Radstone Timothy Wellburn Richard West R E A Seabrook
Independent Examiner
R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG
Approved by order of the board of trustees on 14 January 2022 and signed on its behalf by:
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Subterranea Britannica
Report of the Trustees for the Year Ended 31 December 2021
T Wellburn - Trustee
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Independent Examiner's Report to the Trustees of Subterranea Britannica
Independent examiner's report to the trustees of Subterranea Britannica ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Robert McLeod ICAEW R A McLeod and Co Chartered Accountants 10 Portland Business Centre Manor House Lane Datchet Berkshire SL3 9EG
14 January 2022
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Subterranea Britannica
Statement of Financial Activities for the Year Ended 31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOMING RESOURCES FROM | |||
| Subscriptions & donations | 29,852 | 27,011 | |
| Income from self funded events | 2 | 3,590 | 5,480 |
| Investment income | 3 | 5 | 178 |
| Total | 33,447 | 32,669 | |
| EXPENDITURE ON | |||
| Application of funds and self funded activities | |||
| Application of funds | 4 | 33,778 | 19,098 |
| Self funded activities | 3,666 | 5,071 | |
| 37,444 | 24,169 | ||
| Other | 4,197 | 6,765 | |
| Total | 41,641 | 30,934 | |
| NET INCOME/(EXPENDITURE) | (8,194) | 1,735 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 86,443 | 84,708 | |
| TOTAL FUNDS CARRIED FORWARD | 78,249 | 86,443 |
The notes form part of these financial statements
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Subterranea Britannica
Balance Sheet 31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 8 | 536 | - |
| Cash at bank | 77,713 | 86,443 | |
| 78,249 | 86,443 | ||
| NET CURRENT ASSETS | 78,249 | 86,443 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 78,249 | 86,443 | |
| NET ASSETS | 78,249 | 86,443 | |
| FUNDS | 9 | ||
| Unrestricted funds | 78,249 | 86,443 | |
| TOTAL FUNDS | 78,249 | 86,443 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14 January 2022 and were signed on its behalf by:
A Radstone - Trustee
The notes form part of these financial statements
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Subterranea Britannica
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
No depreciation is provided as the assets have been fully depreciated.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INCOME FROM SELF FUNDED EVENTS
| INCOME FROM SELF FUNDED EVENTS | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Events income | 3,590 | 5,480 |
continued...
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Subterranea Britannica
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
3. INVESTMENT INCOME
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Deposit account interest | 5 | 178 | |
| 4. | APPLICATION OF FUNDS | ||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Donations | 13,608 | 1,561 | |
| Publications & Publicity | 13,448 | 12,650 | |
| Support costs | 6,722 | 4,887 | |
| 33,778 | 19,098 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOMING RESOURCES FROM | |
| Subscriptions & donations | 27,011 |
| Income from self funded events | 5,480 |
| Investment income | 178 |
| Total | 32,669 |
| EXPENDITURE ON | |
| Application of funds and self funded | |
| activities | |
| Application of funds | 19,098 |
| Self funded activities | 5,071 |
| 24,169 | |
| Other | 6,765 |
| Total | 30,934 |
| NET INCOME | 1,735 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 84,708 |
continued...
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Subterranea Britannica
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | - continued | - continued | |
|---|---|---|---|---|---|
| Unrestricted | |||||
| fund | |||||
| £ | |||||
| TOTAL FUNDS CARRIED FORWARD | 86,443 | ||||
| 7. | TANGIBLE FIXED ASSETS | ||||
| Computer | |||||
| equipment | |||||
| £ | |||||
| COST | |||||
| At 1 January 2021 and 31 December 2021 | 332 | ||||
| DEPRECIATION | |||||
| At 1 January 2021 and 31 December 2021 | 332 | ||||
| NET BOOK VALUE | |||||
| At 31 December 2021 | - | ||||
| At 31 December 2020 | - | ||||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.12.21 | 31.12.20 | ||||
| £ | £ | ||||
| Prepayments | 536 | - | |||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.1.21 | in funds | 31.12.21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 86,443 | (8,194) | 78,249 | ||
| TOTAL FUNDS | 86,443 | (8,194) | 78,249 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 33,447 | (41,641) | (8,194) | ||
| TOTAL FUNDS | 33,447 | (41,641) | (8,194) |
continued...
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Subterranea Britannica
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.1.20 | in funds | 31.12.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 84,708 |
1,735 | 86,443 |
| TOTAL FUNDS 84,708 |
1,735 | 86,443 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 32,669 |
(30,934) | 1,735 |
| TOTAL FUNDS 32,669 |
(30,934) | 1,735 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.20 | in funds | 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 84,708 | (6,459) | 78,249 |
| TOTAL FUNDS | 84,708 | (6,459) | 78,249 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 66,116 | (72,575) | (6,459) |
| TOTAL FUNDS | 66,116 | (72,575) | (6,459) |
continued...
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Subterranea Britannica
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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Subterranea Britannica
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 31 December 2021 | |||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| INCOMING RESOURCES | |||
| Subscriptions & donations | |||
| Donations | 40 | 40 | |
| Gift aid | 4,708 | 4,406 | |
| Membership subscriptions | 25,104 | 22,565 | |
| 29,852 | 27,011 | ||
| Income from self funded events | |||
| Events income | 3,590 | 5,480 | |
| Investment income | |||
| Deposit account interest | 5 | 178 | |
| Total incoming resources | 33,447 | 32,669 | |
| EXPENDITURE | |||
| Application of funds | |||
| Donations | 13,608 | 1,561 | |
| Publications & Publicity | 13,448 | 12,650 | |
| 27,056 | 14,211 | ||
| Self funded activities | |||
| Events expenditure | 142 | 4,212 | |
| Conference expenditure | 3,524 | 859 | |
| 3,666 | 5,071 | ||
| Support costs | |||
| Administration costs | |||
| Insurance | 1,243 | 1,243 | |
| Web fees & computer expenses | 7,135 | 8,106 | |
| Affiliation fees | 125 | 145 | |
| Post.Pckg,Stat,Tele & Copy | 714 | 356 | |
| Sundry expenses | 50 | 150 | |
| Bank & Paypal charges | 632 | 632 | |
| Accountancy | 1,020 | 1,020 | |
| 10,919 | 11,652 | ||
| Total resources expended | 41,641 | 30,934 | |
| Net (expenditure)/income | (8,194) | 1,735 |
This page does not form part of the statutory financial statements
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