##
##
||||||Page|
|---|---|---|---|---|---|
|Reference and Administrative||Details ofthe Company,|its Trustees|and Advisers|1-2|
|Trustees'
Report|||||3-19|
|Trustees'
Responsibilities
Statement|||||20|
|Independent
Auditors'|Report|on the Financial Statements|||21-24|
|Statement of Financial|Activities||||25|
|Balance Sheet|||||26|
|Statement ofCash Flows|||||27|
|Notes to the Financial|Statements||||28-47|
|REFERENCE AND|REFERENCE AND|REFERENCE AND|ADMINISTRATIVE
DETAILS|OF|OF|THE COMPANY, ITS TRUSTEES AND ADVISERS|THE COMPANY, ITS TRUSTEES AND ADVISERS|
|---|---|---|---|---|---|---|---|
||||FOR THE YEAR ENDED||||31 DECEMBER 2020|
|Trustees|||CArraiano,
Chair, Working||Group on Women
in Science|||
||||M De La Rosa, Congress|Counsellor||||
||||I Diaz Moreno, Chair, Working||||Group on the Careers ofYoung Scientists|
||||J Dumic, Chair, Working|Group on Integration||||
||||E Fragkoulis,
Chair, Science|||and Society Committee||
||||L Fesus, Chair, Publications||||Committee|
||||A Krol, Chair, Fellowships|Committee||||
||||J Buchner (appointed
1 January 2021)|||||
||||F Michelangeli,
Treasurer|||||
||||VPaces Secretary General|||||
||||J Kos (appointed
1 January||2021)|||
||||BVbrtessy,
Chair, Advanced||||Courses Committee|
||||TZima, Chair (resigned 31||December 2020)|||
||||F G Sagin, Chair, Education|||Committee||
||||P Laidler, Vice Chair|||||
|Company|registered|||||||
|number|||08239097|||||
|Charity registered||||||||
|number|||1149638|||||
|Registered||office|StAndrew's
House Suite
59St Andrew's
Street|B1||Third Floor||
||||Cambridge|||||
||||CB2 3BZ|||||
|Company|secretary||Professor VPaces|||||
|Independent||auditors|Hill Wooldridge
&Co. Limited|||||
||||107Hindes Road|||||
||||Harrow|||||
||||Middlesex|||||
||||HA1 1RU|||||
|Bankers|||The Royal Bank ofScotland|||||
||||171Tottenham
Court Road|||||
||||London|||||
||||W1P ODL|||||
||||HSBC UK Bank PLC|||||
||||Business Banking
UK|||||
||||1st Floor, Sunningdale|||||
||||The Belfry Business Park|||||
||||Colonial Way|||||
||||Watford|||||
||||WD24 4WH|||||
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|
h biochemistry
and molecular
biology and relate|d discipline|d discipline|s||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Achievements|Comments||||||||||
|FEBSAdvanced
Courses|||||||||||
|22 FEBS-supported
events were planned
for2020:
due to the COVID-19 pandemic,
3 took place as
scheduled
(2 Practical
Courses
and
1 Special
Meeting), 2 Advanced
Lecture Courses were held|In
2020,
FEBS
continued
to
fund
numerous
Advanced
Courses
with
high
scientific content
and
also funded
many
YTF grants to allow participation
of young researchers
at the FEBS courses.||||||||||
|as virtual
meetings
and
15 were
postponed
to
2021 (4Advanced
Lecture Courses, 2joint FEBS-
EMBO Lecture
Courses,
3 Practical
Courses,
2|||||||||||
|Practical and Lecture Courses and 4 Workshops),|||||||||||
|1 joint FEBS-EMBO Lecture Course to 2022 and 1|||||||||||
|Advanced
Lecture Course to 2023.|||||||||||
|The assessment
procedure for course selection|||||||||||
|and funding
was refined. The online database|||||||||||
|for applications
and
reporting
was enhanced,|||||||||||
|FEBS-owned
and
branded
course
websites|||||||||||
|were introduced
and collaborations
with EMBO|||||||||||
|and IUBMB continued|||||||||||
##
##
##
##
##
##
|
er countries ofConstituent
Societie|s||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Achievements||Comments|||||||||
|FEBSCongress, Advanced
Courses and||See above|||||||||
|Education Workshops|||||||||||
|See above|||||||||||
|Lecturers for Constituent
Society and other
scientific meetings
National
Lectures
in
Norway
(held
in January 2020), The||Effective enhancement
international
meetings
distinguished
speakers.||||of regional,
by funding||national
of||and|
|Netherlands
(postponed
to 2021), Finland|and||||||||||
|Italy (postponed
to 2022) and France and|||||||||||
|Poland (cancelled).|||||||||||
|Other meeting sponsorship
In 2020: RAFV XXXIIIArgentinian
meeting||Eminent speakers
meetings
beyond||for special events
Europe, which
also|||||and
allowed||
|(postponed
to 2021), Gordon Research
Conference
USA (postponed
to 2022) and||collaboration
with
international
organizations
yielded
FEBSjournals'
promotion.||||||||and|
|OGMBT (Austria society) new series ofvirtual|||||||||||
|meetings.|||||||||||
|Achievements||Comments|||||||||
|FESSFellowships
Fellows move to work
in host lab in different||Promotion
of exchange||||of|||||
|country (see Objective 3 below).||skills/knowledge.|||||||||
|WGI schemes|||||||||||
|Support for communities
of molecular
life
scientists
in European
countries
with economic||Contributes
to developing/maintaining
effective researchers
in Europe.|||||||pool|of|
|challenges
and/or
no existing or active|||||||||||
|biochemical
society through
visits, Education|||||||||||
|Workshops,
CES Fellowships
and literature|||||||||||
|access scheme as well as encouraging
the|||||||||||
|establishment
of new societies and for them to|||||||||||
|benefit from FESS.|||||||||||
##
##
##
|jective 3: f
owships|acilitatin|g
and|supp|ortin|g
th|e training
of young
scientis|ts
in res|earc|
|---|---|---|---|---|---|---|---|---|
|Achievements||||||Comments|||
|Short-Term
Fellowships||||||Enhances research
possibilities|for young||
|19Short-Term|and 10|Summer|Fellowships|||scientists;
numbers
awarded
in|accordance|with|
|warded||||||budgetary
limits.|||
|Long —Term|Fellowships|||||Very competitive
- only the most|outstanding||
|6 Long-Term|awarded|(such Fellows||in post).||scientists successful;
numbers|awarded
in||
|||||||accordance
with
budgetary
limits. Accounts||for|
|||||||major part ofFEBSexpenditure.|||
|Fellows Meeting||||||Participants
are invited to participate.
No|||
|(postponed
from 2020||and due|to be|held|in|selection procedure
applies as only FEBS Long-|||
|Lisbon 2022)||||||Term Fellows are eligible. The organization|||
|||||||costs are shared
with the YSF.|||
##
|Achievements||Comments|||
|---|---|---|---|---|
|In 2020, the FEBSPress journals
received more submissions|(13%).|Strong performance||of FEBS' journals|
|published
more artides (8%)compared to 2019.59%per cent|of all|in a challenging|scientific publishing||
|arlicles published
were open access (gold OA). A stable subscriptions||environment|||
|base was maintained
for FEBSJournal and FEBS Letters. Journal|||||
|Impact factors increased
for all journals.|||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||BALANCE SHEET|BALANCE SHEET|||
|---|---|---|---|---|---|
|||AS AT 31 DECEMBER 2020||||
||||2020||2019|
|||Note|||e|
|FIXEDASSETS||||||
|Tangible assets|||91,253||93,506|
|Investments|||77,266,553||68,050,268|
||||77,357,806||68,143,774|
|CURRENT ASSETS||||||
|Debtors||13|554,894|238,844||
|Cash at bank and|in hand||5,254,028|5,943,409||
||||5,808,922|6,182,253||
|Creditors.
amounts|falling due within one|||||
|year||14|(449,096)|(569,686)||
|NET CURRENT ASSETS|||5,359,826||5612,567|
|TOTAL ASSETS|LESS CURRENT|||||
|LIABILITIES|||82,717,632||?3.756,341|
|TOTAL NET ASSETS|||82,717,632||73,756,341|
|CHARITY FUNDS||||||
|Unrestricted
funds|||82,717,632||73.756,341|
|TOTAL FUNDS|||82,717,632||73,756,341|
##
##
##
|||||2020|2019|
|---|---|---|---|---|---|
||||Note|||
|CASH FLOWS FROM OPERATING ACTIVITIES||||||
|Net cash from operating
activities|||17|4,434,669|2,835,855|
|CASH FLOWS FROM INVESTING ACTIVITIES||||||
|Purchase
oftangible
fixed assets||||(14,318)|(75,441)|
|Purchase
offixed asset investments||||(32,030,400)|(65,481,134)|
|Sale offixed asset investments||||26,092,998|60,556,248|
|Interest received||||317,201|375,023|
|Dividends
received||||510,469|578,252|
|NET CASH USED IN INVESTING ACTIVITIES||||(5,124,050)|(4,047,052)|
|CHANGE
IN CASH AND CASH EQUIVALENTS||IN THE YEAR||(689,381)|(1,211,197)|
|Cash and cash equivalents
at the beginning|ofthe year|||5,943,409|7,154,606|
|CASH AND CASH EQUIVALENTS AT THE|END|OF THE YEAR|18|5,254,028|5,943,409|
|The notes on pages 28 to 47 form part ofthese financial statements||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2020|2020|
|Subscriptions|receivable|8,591|8,591|
|TOTAL 2020||8,591|8,591|
|||Unrestricted|Total|
|||funds|funds|
|||2019|2019|
|Subscriptions|receivable|8,099|8,099|
|TOTAL 2019||8,099|8,099|
##
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2020|2020|
|Royalties receivable|7,136,243|7,136,243|
|TOTAL 2020|7,136,243|7,136,243|
||Unrestricted|Total|
||funds|funds|
||2019|2019|
|Royalties receivable|7,104,921|7,104,921|
|TOTAL 2019|7,104,921|7,104,921|
##
##
##
##
##
||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2020|2020|
|Franked|investment|income|-|dividends|510,469|510,469|
|Interest|received||||317,201|317,201|
|TOTAL|2020||||827,670|827,670|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2019|2019|
|Franked|investment|income|-|dividends|578,252|578,252|
|interest|received||||375,023|375,023|
|TOTAL|2019||||953,275|953,275|
##
||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2020|2020|
|Other income|15,356|15,356|
|TOTAL 2020|15,356|15,356|
##
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2019|2019|
|Other|income|23,330|23,330|
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2020|2020|
|Portfolio|management|490,706|490,706|
|TOTAL|2020|490,706|490,706|
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2019|2019|
|Portfolio|management|412,176|412, 176|
|TOTAL|2019|412,176|412,176|
##
##
||||Grant|||
|---|---|---|---|---|---|
|||Activities|funding
of|Support and||
|||undertaken|activities|governance|Total|
|||directly|(note 8)|costs|funds|
|||2020|2020|2020|2020|
|Journals||299,055||505,814|804,869|
|Congress||3,162|1,390|65,197|69,749|
|Fellowships|||681,320|40,843|722,163|
|Advanced|courses||85,559|62,305|147„864|
|Other||14,766|34,539|20,796|70,101|
|TOTAL 2020||316,983|802,808|694,955|1,814,746|
||||Grant|||
|---|---|---|---|---|---|
|||Activities|funding
of|Support and||
|||undertaken|activities|governance|Total|
|||directly|(note 8)|costs|funds|
|||2019|2019|2019|2019|
|Journals||309,604||1,290,928|1,600,532|
|Congress||173,644|219,428|423,025|816,097|
|Fellowships|||971,041|423,151|1,394,192|
|Advanced|courses||463,229|421,443|884,672|
|Other||69,244|58,351|348,484|476,079|
|TOTAL 2019||552,492|1,712,049|2,907,031|5,171,572|
##
##
##
##
|||||Total|
|---|---|---|---|---|
||Journals|Congress|Other|funds|
||2020|2020|2020|2020|
|Editorial fees and expenses|299,055|||299,055|
|Education
committee
events|||14,219|14,219|
|Other education
workshops||2,195||2,195|
|FEBScongress||354||354|
|FEBSYoung Scientist forum congress||613||613|
|WGI participation
events|||547|547|
|TOTAL 2020|299,055|3,162|14,766|316,983|
|||||Total|
||Jouma/s|Congress|Other|funds|
||2019|2019|2019|2019|
|Editorial fees and expenses|309,604|||309,604|
|Women
in Science events||11,210||11,210|
|Education
committee
events|||36,348|36,348|
|Science and Society events|||13,289|13,289|
|National
lecture expenses|||1,550|1,550|
|Expenses and publicity at other conferences|||453|453|
|Other education
workshops||13,373||13,373|
|FEBScongress||49,373||49,373|
|FEBSYoung Scientist forum congress||89,170||89,170|
|WGI participation
events|||17,604|17,604|
|Spinzl scheme||3,125||3,125|
|Publications
congress expenses||7,393||7,393|
|TOTAL 2019|309,604|173,644|69,244|552,492|
##
##
##
##
##
||||||Advanced|
|---|---|---|---|---|---|
|||Journals|Congress|Fellowships|courses|
|||2020|2020|2020|2020|
|Journals|support costs|944,095||||
|HR and|communications|43,542|43,542|21,770|21,770|
|Finance||64,659|32,330|24,248|24,248|
|IT||55|55|54|54|
|Governance||22,094|22,094|11,047|11,047|
|Committee
costs||||18,100|39,562|
|Other support costs||6,208|3,104|1,552|1,552|
|Foreign|exchange gains|(574,839)|(35,928)|(35,928)|(35,928)|
|TOTAL|2020|505,814|65,197|40,843|62,305|
||||Total|
|---|---|---|---|
|||Other|funds|
|||2020|2020|
||||6|
|Journals|support costs||944,095|
|HR and|communications|14,516|145,140|
|Finance||16,165|161,650|
|IT||54|272|
|Governance||7,366|73,648|
|Committee
costs|||57,662|
|Other support costs||18,623|31,039|
|Foreign|exchange losses|(35,928)|(718,551)|
|TOTAL|2020|20,796|694,955|
##
##
##
||||||Advanced|
|---|---|---|---|---|---|
|||Journals|Congress|Fellowships|courses|
|||2019|2019|2019|2019|
|Journals|support costs|834,699||||
|HR and|communications|49,815|49,815|24,907|24,907|
|Finance||66,411|33,206|24,905|24,905|
|IT||1,190|1,190|1,190|1,190|
|Governance||37,093|37,093|18,546|18,546|
|Committee
costs||||51,883|50,175|
|Other support costs||10,299|10,299|10,298|10,298|
|Foreign|exchange losses|291,421|291,422|291,422|291,422|
|TOTAL|2019|1,290,928|423,025|423,151|421,443|
||||||Total|
|||||Other|funds|
|||||2019|2019|
|Journals|support costs||||834,699|
|HR and|communications|||16,607|166,051|
|Finance||||16,603|166,030|
|IT||||1,190|5,950|
|Governance||||12,364|123,642|
|Committee
costs|||||102,058|
|Other support costs||||10,298|51,492|
|Foreign|exchange losses|||291,422|1,457,109|
|TOTAL|2019|||348,484|2,907,031|
##
##
##
##
|||Grants to|Grants to|Total|
|---|---|---|---|---|
|||Institutions|Individuals|funds|
|||2020|2020|2020|
|||||6|
|Congress|||1,390|1,390|
|Fellowships|||681,320|681,320|
|Advanced|courses|75,935|9,624|85,559|
|Other||30,000|4,539|34,539|
|TOTAL 2020||105,935|696,873|802,808|
|||Grants to|Grants to|Total|
|---|---|---|---|---|
|||Institutions|Individuals|funds|
|||2019|2019|2019|
|Congress||75,000|144,428|219,428|
|Fellowships|||971,041|971,041|
|Advanced|courses|386,276|76,953|463,229|
|Other||32,100|26,251|58,351|
|TOTAL 2019||493,376|1,218,673|1,712,049|
||||2020|2019|
|---|---|---|---|---|
|Advanced
courses|||75,935|386,276|
|FEBSCongress|Grant|||75,000|
|Grants/sponsorship|to other organisations/conferences||5,000|7,100|
|FEBS3+Grant|||20,000|20,000|
|Alliance for Biomedical Research||Grant|5,000|5,000|
||||105,935|493,376|
##
##
|STAFF COSTS, KEY MANAGEMENT
PERSONNE
EXPENSES|L AND TRUSTEES' REMUNERATION
A|ND|
|---|---|---|
||2020|2019|
|Wages and salaries|469,865|411,740|
|Social security costs|47,657|41,195|
|Other pension costs|69,858|60,612|
||587,380|513,547|
|Publications|(Cambridge,|UK)|
|---|---|---|
|Publications|(Heidelberg,|Germany)|
|Publications|(Barcelona,|Spain)|
|Treasury|||
|Central
admin|||
##
##
||NOTES TO THE FINANCIAL S
FOR THE YEAR ENDED 31 DE|TATEMENTS
CEMBER 2020||
|---|---|---|---|
|||2020|2019|
|M De La Rosa (Editorial services)||25,416|4,575|
|I Diaz Moreno (Editorial services)||650||
|C Arraiano|(Editorial services)|75|125|
|B Vertessy|(Editorial services)|25|25|
|||26,166|4,725|
##
##
|manner ar|e|detailed
b|elow:|||
|---|---|---|---|---|---|
|||||2020|2019|
|Copenhagen||Journals|Administrator|44,380|39,965|
|Fellowship||Committee|Administrator|15,429|26,500|
|Advanced|Courses Committee
Administrator|||23,902|21,252|
|||||83,711|87,717|
|||||2020|2019|
|---|---|---|---|---|---|
|Copenhagen||Journals|Administrator|||
|Fellowship||Committee|Administrator|||
|Advanced|Courses Committee
Administrator|||||
##
##
##
##
||||Computer||
|---|---|---|---|---|
||Leasehold|Fixtures and|equipment||
||improvements|fittings|and website|Total|
|COST OR VALUATION|||||
|At 1 January 2020|51,356|11332|99,403|162,091|
|Additions|8,325|1,058|4,935|14,318|
|At 31 December 2020|59,681|12,390|104,338|176,409|
|DEPRECIATION|||||
|At 1 January 2020|886|1,082|66,617|68,585|
|Charge for the year|6,130|1,670|8,771|16,571|
|At 31 December 2020|7,016|2,752|75,388|85,156|
|NET BOOK VALUE|||||
|At 31 December 2020|52,665|9,638|28,950|91,253|
|At31December 2019|50,470|10,250|32,786|93,506|
##
##
##
##
||Listed|Cash held at||
|---|---|---|---|
||investments|broker|Total|
|COST OR VALUATION||||
|At 1 January 2020|67,141,805|908,463|68,050,268|
|Additions|29,928,858||29,928,858|
|Disposals (proceeds 626,527,791; realised loss 6308,709)|(26„836,500)||(26,836,500)|
|Revaluations|3,587,592||3,587,592|
|Movement
in cash deposits||2,536,335|2,536,335|
|AT 31 DECEMBER 2020|73,821,755|3,444,798|77,266,553|
|NET BOOK VALUE||||
|AT 31 DECEMBER 2020|73,821,755|3,444,798|77,266,553|
|AT31DECEMBER 2019|67,'/4 1,805|908,463|68,050,268|
##
##
##
##
|||2020|2019|
|---|---|---|---|
|Trade debtors||14,719|36,016|
|Other debtors||58,904|45,259|
|Prepayments|and accrued income|481,271|157,569|
|||554,894|238,844|
##
||||2020|2019|
|---|---|---|---|---|
|Trade creditors|||53,360|132,358|
|Other taxation|and social security||330,935|365,920|
|Other creditors|||187|12,831|
|Accruals and deferred||income|64,614|58,577|
||||449,096|569,686|
##
##
##
##
|STATEMENT OF FUNDS|- CURRENT YEAR|||||
|---|---|---|---|---|---|
||||||Balance at|
||Balance at 1||||31|
||January|Incoming|Resources|Gains/|December|
||2020|resources|expended|(Losses)|2020|
|UNRESTRICTED FUNDS||||||
|General funds|73,756,341|7,987,860|(2,305,452)|3,278,883|82,717,632|
|STATEMENT OF FUNDS - PRIOR YEAR||||||
||||||Balance at|
||Balance at||||31|
||1 January
2019|Incoming
resources|Resources
expended|Gains'
(Losses)|December
2019|
|UNRESTRICTED FUNDS||||||
|General funds|60,310,053|8,089,625|(5,583,748)|10,940,411|73,756,341|
##
##
|ANALYSIS OF NET ASSETS BETWEEN FUNDS -|CURRENT PERIOD||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
|Tangible fixed assets|91,253|91,253|
|Fixed asset investments|77,266,553|77,266,553|
|Current assets|5,808,922|5,808,922|
|Creditors due within one year|(449,096)|(449,096)|
|TOTAL|82,717,632|82,717,632|
##
##
##
##
##
|ANALYSIS OF NET ASSETS BETWEEN FUNDS - P|RIOR PERIOD||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2019|2019|
|Tangible fixed assets|93,506|93,506|
|Fixed asset investments|68,050,268|68,050,268|
|Current assets|6,182,253|6,182,253|
|Creditors due within one year|(569,686)|(569,686)|
||73,756,341|73,756,341|
##
##
|||2020|2019|
|---|---|---|---|
|Net income for the period (as per Statement|of Financial Activities)|8,961,291|13,446,288|
|ADJUSTMENTS FOR:||||
|Depreciation
charges||16,571|10,118|
|Loss on disposal oftangible fixed assets|||3,315|
|(Gains)/losses
on investments||(3,278,883)|(9,943,288)|
|Interest received||(317,201)|(375,023)|
|Dividends
received||(510,469)|(578,252)|
|(Increase)/decrease
in debtors||(316,050)|2,267,453|
|Decrease
in creditors||(120,590)|(1,994,756)|
|NET CASH PROVIDED BYOPERATING ACTIVITIES||4,434,669|2,835,855|
##
##
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|Cash|in hand||||5,254,028|5,943,409|
|TOTA|L CASH AND CASH||EQUIVALENTS||5,254,028|5,943,409|
|ANA|LYSIS OF CHANGES||IN NET DEBT||||
|||||At 1||At 31|
|||||January||December|
|||||2020|Cash flows|2020|
|Cash|at bank and|in hand||5,943,409|(689,381)|5,254,028|
|||||5,943,409|(689,381)|5,254,028|
##
##
##
|non-cancell|able
operating
leases as follows:|||
|---|---|---|---|
|||2020|2019|
|Not later than
1 year||55,502|55,215|
|Later than|1 year and not later than 5years|222,007|220,859|
|Later than|5years|180,381|234,663|
|||457,890|510,737|
##