2021-12-31-accounts

				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			28-48

REFERENCE AND	REFERENCE AND	REFERENCE AND	ADMINISTRATIVE DETAILS	OF	OF	THE COMPANY, ITSTRUSTEES AND ADVISERS	THE COMPANY, ITSTRUSTEES AND ADVISERS	THE COMPANY, ITSTRUSTEES AND ADVISERS	THE COMPANY, ITSTRUSTEES AND ADVISERS	THE COMPANY, ITSTRUSTEES AND ADVISERS	THE COMPANY, ITSTRUSTEES AND ADVISERS
			FOR THE YEAR ENDED 31DECEMBER 2021
Trustees			C Arraiano, 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 Dumid, Chair, Working	Group			on Integration
			E Fragkoulis, Chair, Science			and Society		Committee
			L Fhsus, Chair, Network	Working Group				(resigned	31 December 2021)
			A Krol. Chair. Fellowships	Committee
			J Buchner, Chair, Publications				Committee
			F Michelangeli, Treasurer
			V Pakes, Secretarv General
			J Kos, Vice Chair, Executive			Committee		(appointed		1 January 2021)
			BVhrtessy, Chair, Advanced			Courses Committee
			X D C Coumoul, Chair, Network				Working	Group (appointed			1 January 2022)
			F G Sagin, Chair, Education			Committee
			P Laidler, Chair, Executive		Committee
Company	registered
number			08239097
Charity registered
number			1149638
Registered		office	StAndrew's House Suite	B1		Third Floor
			59StAndrew's Street
			Cambridge
			CB23BZ
Company	secretary		Professor V Paces
Independent		auditors	Hill Wooldridge &Co. Limited
			107Hindes Road
			Harrow
			Middlesex
			HA1 1RU
Bankers
			HSBC UK Bank PLC
			Business Banking UK
			1st Floor, Sunningdale
			The Belfry Business Park
			Colonial Way
			Wafford
			WD24 4WH
			The Royal Bank of Scotland
			171Tottenham Court Road
			London
			W1P ODL

iochemistry and molecular biology and relat	ed disc	iplines	iplines
Achievements		Comments
FEBSAdvanced Courses
29 FEBS-supported events were planned for 2021:due		In 2021,	FEBS continued			to fund several
to the COVID-19 pandemic, only 3events were able	to	Advanced		Courses with	high scientific			content
take place in person (1 Practical Course, 1 Advanced		and also	funded YTF grants			to allow	participation
Lecture Course and 1 Workshop) and 2joint FEBS-		ofyoung	researchers at the			FESS courses.
EMBO Lecture Courses, 1 Practical and Lecture Course
and 1 Workshop were held as virtual events during 2021.
20 events were postponed to 2022 (7Advanced Lecture
Courses, 5joint FEBS-EMBO Lecture Courses, 2
Practical Courses, 2 Practical and Lecture Courses and 4
Workshops) and 2 Advanced Lecture Courses to 2023.
The assessment procedure for course selection and
funding was refined. The online database for applications
and reporting enhanced, FEBS-owned and branded
course websites introduced and collaborations with
EMBO and IUBMB continued.
FEBS3+Meetings Cesk6 Budhjovic, Czech Republic 29~ August to 1"		Support for scientists in			Czech Republic,				Austria,
September 2021:the XXVI Annual Congress meeting		Germany	and Slovakia;		enhanced links				between
hosted by CSBMB(Czech Republic), in conjunction	with	these FEBSConstituent			Societies.		See		'Support
the member societies ofSlovakia, Germany and Austria,		for Constituent Society events' section						for more
and with 264 participants.		details.
Each meeting received support comprising 610,000tothe
host society for general meeting organisation and
610,000 to support the attendance of young scientists
from the two other participating societies.
20th Young Scientists Forum (YSF)and 45th FEBS
Congress:
The 20th YSFwas due to be held in Lovran, Croatia	in	The YSF	includes over		100PhD students				and
July 2020 but, due to the COVID-19 pandemic was first		young postdocs, whose			attendance		at	this and
postponed to 2021 and then held as a virtual event in		the Congress is funded			by	FEBSYSFawards.				In
June 2021, with the same accepted participants and	the	addition,	FEBSsupports		participation			of	a large
same scientific programme.		number of		young scientists		in its annual
		Congress	through the FEBSBursaries					scheme.
The 45th Congress was due to be held in Ljubljana,
Slovenia in July 2020 but, due to the COVID-19		The annual		FEBSCongress provides				a platform
pandemic was first postponed to 2021 and then held	as a	for international scientific exchange					and
virtual event in July 2021, featuring the same scientific		showcases		the newest developments				in
programme.		biochemistry, molecular			biology and		related
		areas. The		Congress comprises plenary					lectures,
		symposia,		poster sessions,		workshops		and other
		activities	on related topics.			The Congress			is held
		in countries		with a Constituent Socie				ofFEBS.

cular biologists and scientists working in rel r countries ofConstituent Societies	a	ted dis	ciplines g	enerall	y	and	espec	ial	ly in	Europ	e an
Achievements			Comments
FEBSCongress, Advanced Courses and Education
Workshops
See above			See above
Lecturers for Constituent Society and other scientific
meetings
National Lectures in Turkey (held in October 2021),The			Effective enhancement			of	regional,		national	and
Netherlands (held in July 2021 having been postponed		from	international	meetings		by funding		of	distinguished
2020) and Poland (postponed from 2020 and subsequently			speakers.
cancelled .
Other meeting sponsorship
In 2021:RAFV XXXIII Argentinian meeting (postponed	from		Eminent speakers		for	special events			and meetings
2020) and the Gordon Research Conference USA (postponed			beyond Europe, which			also allowed			collaboration		with
to 2022).			international	organisations			and yielded FEBSjournals'
			romotion.
FEBSFellowships
Fellows move to work in host lab in different country (see			Promotion	ofexchange		of	skills/knowledge.
Objective 3 below).
WGI schemes
Support for communities ofmolecular life scientists in			Contributes	to developing/maintaining					pool	ofeffective
European countries with economic challenges and/or no existing or active biochemical society through visits, the			researchers	in Europe.
Congress 'Sprinzl Scheme', Education Workshops and		CDS
Fellowships as well as encouraging the establishment		of new
societies and for them to benefit from FEBS.

ctive 3: fa wships	ctive 3: fa wships	cilitating	and s	uppo	rting	the training	of young scienti	sts	in resea		rch, in t	he form
Achievements							Comments
Short-Term	Fellowships
16Short-Term		and 10	Summer	Fellowships		taken up.	Enhances research		possibilities		for young	scientists;
							numbers awarded	in	accordance		with bud	eta limits.
Long —Term		Fellowships
6 Long-Term		awarded	(such Fellows		in post).		Very competitive	-only the most			outstanding	scientists
							successful; numbers		awarded	in accordance with
							budgetary limits.	Accounts for major part ofFEBS
							ex enditure.
Fellows Meeting
(postponed	from 2020		and held	in Vimeiro,		Portugal 2022)	Participants are invited to participate. No selection
							procedure applies	as only current			and past	FEBS
							Long- Term Fellows		are eligible.		The organisation
							costs are shared	with the YSF.

hemistry and molecular biology and	related disciplin	es
Achievements		Comments
In 2021, the FEBSPress journals published	a similar number	Strong performance	ofFEBS' journals	in a challenging
ofarticles compared to2020.59%ofall articles published		scientific publishing	environment.
were open access (gold OA). Journal Impact	factors
increased for three out ofthe four journals.

			Unrestricted	Total	Total
			funds	funds	funds
			2021	2021	2020
		Note
INCOME FROM:
Donations and legacies			8,044	8,044	8,591
Charitable activities			7,156,235	7,156,235	7,136,243
investments			749,092	749,092	827,670
Other income			12,260	12,260	15,356
TOTAL INCOME			7,925,631	7,925,631	7,987,860
EXPENDITURE ON:
Raising funds		7	462,734	462,734	490,706
Charitable activities		8	3,243,527	3,243,527	1,814,746
TOTAL EXPENDITURE			3,706,261	3,706,261	2,305,452
NET INCOME BEFORE NET GAINS ON
INVESTMENTS			4,219,370	4,219,370	5,682,408
Net gains on investments		13	12,241,697	12,241,697	3,278,883
NET MOVEMENT	IN FUNDS		16,461,067	16,461,067	8,961,291
RECONCILIATION	OF FUNDS:
Total funds brought	forward	17	82,717,632	82,717,632	73,756,341
Net movement in funds		17	16,461,067	16,461,067	8,961,291
TOTAL FUNDS CARRIED FORWARD		17	99,178,699	99,178,699	82,717,632

		BALANCE SHEET	BALANCE SHEET
		AS AT 31 DECEMBER 2'021
				2021		2020
		Note
FIXEDASSETS
Tangible assets		12		76,368		91,253
Investments		13		92,034,956		77,266,553
Social investments		14		72,129
				92,183,453		77,357,806
CURRENT ASSETS
Debtors		15	436,652		554,894
Cash at bank and	in hand		7,130,070		5,254,028
			7,566,722		5,808,922
Creditors: amounts	falling due within one
year		16	(571,476)		(449,096)
NET CURRENT ASSETS				6,995,246		5,359,82S
TOTAL ASSETSLESSCURRENT
LIABILITIES				99,178,699		82,717,632
TOTAL NET ASSETS				99,178,699		82,717,632
CHARITY FUNDS
Unrestricted funds		17		99,178,699		82,717,632
TOTAL FUNDS				99',178,699		82,717,632

					2021	2020
				Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash from operating activities				19	3,725,785	4,434,669
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase oftangible fixed assets						(14,318)
Purchase offixed asset investments					(63,467,550)	(32,030,400)
Sale offixed asset investments					60,940,844	26,092,998
Interest received					144,227	317,201
Dividends received					604,865	510,469
Purchase of social investments					(72,129)
NET CASH USED IN INVESTING ACTIVITIES					(1,849,743)	(5,124,050)
CHANGE IN CASH AND CASH EQUIVALENTS		IN THE	YEAR		1,876,042	(689,381)
Cash and cash equivalents at the beginning	ofthe year				5,254,028	5,943,409
CASH AND CASH EQUIVALENTS AT THE	END	OF THE YEAR		20	7,130,070	5,254,028
The notes on pages 28 to48 form part ofthese financial			statements

		Unrestricted	Total
		funds	funds
		2021	2021
Subscriptions	receivable	8,044	8,044
TOTAL 2021		8,044	8,044
		Unrestricted	Total
		funds	funds
		2020	2020
Subscriptions	receivable	8,591	8,591
TOTAL 2020		8,591	8,591

	Unrestricted	Total
	funds	funds
	2021	2021
Royalties receivable	7,156,235	7,156,235
TOTAL 2021	7,156,235	7,156,235
	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
				2021	2021
Franked	investment	income	- dividends	604,865	604,865
Interest	received			144,227	144,227
TOTAL	2021			749,092	749,092
				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
	2021	2021
Other income	12,260	12,260
TOTAL 2021	12,260	12,260

Unrestricted	Total
funds	funds
2020	2020
15,356	15,356

		Unrestricted	Total
		funds	funds
		2021	2021
Portfolio	management	462,734	462,734
TOTAL	2021	462,734	462,734

		Unrestricted	Total
		funds	funds
		2020	2020
Portfolio	management	490,706	490,706
TOTAL	2020	490,706	490,706

			Grant
		Activities	funding of	Support and
		undertaken	activities	governance	Total
		directly	(note 9)	costs	funds
		2021	2021	2021	2021
Journals		302,688		1,129,023	1,431,711
Congress		110,646	196,798	132,877	440,321
Fellowships			816,832	74,963	891,795
Advanced	courses		97,132	106,860	203,992
Other		9,671	34,653	231,384	275,708
TOTAL 2021		423,005	1,145,415	1,675,107	3,243,527

			Grant
		Activities	funding ot	Supportand
		undertaken	activities	governance	Total
		directly	(note 9)	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

					Total
		Journals	Congress	Other	funds
		2021	2021	2021	2021
Editorial fees and expenses		302,688			302,688
Women in Science events			10,014		10,014
Education committee events				1,500	1,500
Science and Society events				2,250	2,250
National lecture	expenses			443	443
FEBScongress			67,085		67,085
FEBSYoung Scientist forum congress			30,422		30,422
WGI participation	events			5,478	5,478
Spinzl scheme			3,125		3,125
TOTAL 2021		302,688	110,646	9,671	423,005
					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
TOTAL 2020		299,055	3,162	14,766	316,983

					Advanced
		Journals	Congress	Fellowships	courses
		2021	2021	2021	2021
Journals	support costs	1,014,768
HR and	communications	7,324	56,762	7,323	12,816
Finance		38,438	38,438	14,643	32,947
Governance		23,849	23,849	11,924	11,924
Committee costs				34,159	42,259
Other support costs		16,333	8,166	4,083	4,083
Foreign	exchange gains	28,311	5,662	2,831	2,831
TOTAL	2021	1,129,023	132,877	74,963	106,860

			Total
		Other	funds
		2021	2021
Journals	support costs		1,014,768
HR and	communications	98,877	183,102
Finance		58,572	183,038
Governance		7,950	79,496
Committee costs			76,418
Other support costs		48,998	81,663
Foreign	exchange losses	16,987	56,622
TOTAL	2021	231,384	1,675,107

					Advanced
		Jouma/s	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 losses	(574,839)	(35,928)	(35,928)	(35,928)
TOTAL	2020	505,814	65,197	40,843	62,305
					Total
				Other	funds
				2020	2020
Journals	support costs				944,095
.HR and	communications			14,516	145,140
Finance				16,165	161,650
				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

		Grants to	Grants to	Total
		Institutions	Individuals	funds
		2021	2021	2021
Congress		146,125	50,673	196,798
Fellowships			816,832	816,832
Advanced	courses	87,113	10,019	97,132
Other		25,000	9,653	34,653
TOTAL 2021		258,238	887,177	1,145,415

		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

The Company has	made the following material grants to institutions	during the year:
		2021	2020
Advanced courses		87,113	75,935
FEBSCongress Grant		146,125
Grants/sponsorship	to other organisations/conferences		5,000
FEBS3+Grant		20,000	20,000
Alliance for Biomedical Research Grant		5,000	5,000
		258,238	105,935

	2021	2020
Wages and salaries	537,644	469,865
Social security costs	55,183	47,657
Other pension costs	79,817	69,858
	672,644	587,380

Publications	(Cambridge,	UK)
Publications	(Heidelberg,	Germany)
Publications	(Barcelona,	Spain)
Treasury
Central admin

2021	2020
18	16

	FOR THE YEAR ENDED 31 DE	CEMBER 2021
		2021	2020
M De I a Rosa (Editorial services)		25,216	25,416
I Diaz Moreno (Editorial services)		985	650
C Arraiano	(Editorial services)		75
BVertessy	(Editorial services)	385	25
		26,586	26,166

				2021	2020
Copenhagen		Journals	Administrator	20,010	44,380
Fellowship		Committee	Administrator	26,000	15,429
Advanced	Courses Committee Administrator			23,549	23,902
				69,559	83,711

				2021	2020
Copenhagen		Journals	Administrator
Fellowship		Committee	Administrator
Advanced	Courses Committee Administrator

		Leasehold		Computer
		improvemen	Fixtures and	equipment
		ts	fittings	and website	Total
	COST
	At 1 January 2021	59,681	12,390	104,338	176,409
	At 31 December 2021	59,681	12,390	104,338	176,409
	DEPRECIATION
	At 1 January 2021	7,016	2,752	75,388	85,156
	Charge for the year	6,201	1,446	7,238	14,885
	At 31 December 2021	13,217	4,198	82,626	100,041
	NET BOOK VALUE
	At 31 December 2021	46,464	8,192	21,712	76,368
.	At 31December 2020	52,665	9,638	28,950	91,253
	FIXEDASSET INVESTMENTS
			Listed	Cash held at
			investments	broker	Total
	VALUATION
	At 1 January 2021		73,821,755	3,444,798	77,266,553
	Additions		64,268,341		64,268,341
	Disposals (proceeds 658,522,947; realised	loss 62,873,311)	(61,396,258)		(61,396,258)
	Revaluations		15,115,008		15,115,008
	Cash movement			(3,218,688)	(3,218,688)
	AT 31 DECEMBER 2021		91,808,846	226,110	92,034,956

14.	SOCIAL INVESTMENTS
		Programme
		related
		investments
	COST
	Additions	72,129
		72,129
	IMPAIRMENT PROVISION
	NET BOOK VALUE
	At 31 December 2021	72,129
	At 31 December 2020
	Social investments comprise:
	PROGRAMME RELATED INVESTMENTS

Loans	Total
2021	2021
72,129	72,129

		2021	2020
Trade debtors		24,761	14,719
Other debtors		36,079	58,904
Prepayments	and accrued income	375,812	481,271
		436,652	554,894

STATEM	ENT OF FUNDS	- CURRENT YEAR
						Balance at
		Balance at 1				31
		January	Incoming	Resources	Gains/	December
		2021	resources	expended	(Losses)	2021
UNRESTRICTED FUNDS
General	funds	82,717,632	7,925,631	(3,706,261)	12,241,697	99,178,699
STATEMENT OF FUNDS - PRIOR YEAR
						Balance at
		Balance at				31
		1January	Incoming	Resources	Gains/	December
		2020	resources	expended	(Losses)	2020
		6
UNRESTRICTED FUNDS
General	funds	73,756,341	7,987,860	(2,305,452)	3,278,883	82,717,632

ANALYSIS OF NET ASSETS BETWEEN FUNDS -	CURRENT YEAR
	Unrestricted	Total
	funds	funds
	2021	2021
Tangible fixed assets	76,368	76,368
Fixed asset investments	92,034,956	92,034,956
Social investments	72,129	72,129
Current assets	7,566,722	7,566,722
Creditors due within one year	(571,476)	(571,476)
TOTAL	99,178,699	99,178,699

ANALYSIS OF NET ASSETS BETWEEN FUNDS - P	RIOR YEAR
	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

	RECONCILIATION	OF NET MOVEMENT	OF NET MOVEMENT	OF NET MOVEMENT	IN FUNDS TO NET CASH FLOW	FROM OPERATING	FROM OPERATING
19.	ACTIVITIES
						2021	2020
	Net income for the	year (as		per Statement	of Financial Activities)	16,461,067	8,961,291
	ADJUSTMENTS FOR:
	Depreciation charges					14,885,	16,571
	(Gains)/losses on	investments				(12,241,697)	(3,278,883)
	Interest received					(144,227)	(317,201)
	Dividends received					(604,865)	(510,469)
	(Increase)/decrease		in debtors			118,242	(316,050)
	Increase/(decrease)		in creditors			122,380	(120,590)
	NET CASH PROVIDED BYOPERATING ACTIVITIES					3,725,785	4,434,669
20.	ANALYSIS OF CASH AND			CASH EQUIVALENTS
						2021	2020
	Cash in hand					7,130,070	5,254,028
	TOTAL CASH AND		CASH	EQUIVALENTS		7,130,070	5,254,028
21.	ANALYSIS OF CHANGES			IN NET DEBT
					At 1		At 31
					January		December
					2021	Cash flows	2021
	Cash at bank and	in	hand		5,254,028	1,876,042	7,130,070
					5,254,028	1,876,042	7,130,070

non-cancell	able	operating leases as follows:
			2021	2020
Not later than		1 year	58,967	54,779
Later than	1 year and not later than 5years		73,709	123,253
			132,676	178,032