2020-12-31-accounts

Trustees			Prof K Lindsey (Chairman)	Prof K Lindsey (Chairman)
			Prof L Dolan
			Mr ARM Campbell
			Prof M Harrison
			Prof AM Hetherington
			Prof RJ Norby
			Prof A Osbourn
			Mr LRoss
			Prof H Thomas (Treasurer)
			Prof SHiscock
			Prof PAtkinson
			Dr C Dolder (resigned	12June 2020)
Charity	number		1154867
Company		number	08789102
Registered		office	Bailrigg House
			Lancaster University
			Lancaster
			Lancashire
			LA1 4YE
Auditor			Riverside Accountancy	Lancaster	Limited t/a Paul Clegg &
			Company
			Riverside Offices
			Second Floor
			26 St Georges Quay
			Lancaster
			LA1 1RD
Bankers			Barclays Bank PLC
			38 Market Street
			Lancaster
			LA1 4HR

		Page
Trustees' report		1-4
Independent auditor's	report	5-7
Statement offinancial	activities
Balance sheet
Statement ofcash flows		10
Notes to the financial	statements	11-17

			Unrestricted	Unrestricted
			funds	funds
			2020	2019
		Notes	F
~ncome from:
Charitable activities			1,392,235	1,357,101
Investments			31,904	39,159
Total income			1,424,139	1,396,260
Ex enditure on:
Raising funds			19,905	23,774
Charitable activities			1,071,898	1,399,095
Total resources expended			1,091,803	1,422,869
Net gains/(losses)	on investments	10	260,665	277,401
Net income for the year/
Net movement in	funds		593,001	250,792
Fund balances at 1 January 2020			2,719,840	2,469,046
Fund balances at	31 December 2020		3,312,841	2,719,838

				2020		2019
			Notes	F		F
Fixed assets
Investments					2,181,504		1,909,775
Current assets
Debtors			13	420,696		340,887
Cash at bank and	in	hand		858,498		570,872
				1,279,194		911,759
Creditors: amounts		falling due within
one year			14	(147,857)		(101,696)
Net current assets					1,131,337		810,063
Total assets less	current liabilities				3,312,841		2,719,838
Income funds
Unrestricted funds					3,312,841		2,719,838
					3,312,841		2,719,838

				2020		2019
			Notes	f		E
Cash flows from operating		activities
Cash generated	from/(absorbed by)		15
operations					296,861		(7,387)
Investing activities
Purchase of investments				(1,634,842)		(193,234)
Proceeds on disposal of investments				1,682,630		145,780
Cash movement	in investment porffolio			(58,850)		34,314
Interest received				1,827		2,245
Net cash used	in investing	activities			(9,235)		(10,895)
Net cash used	in financing	activities
Net increase/(decrease) in		cash and cash
equivalents					287,626		(18,282)
Cash and cash	equivalents	at beginning	ofyear		570,872		589,153
Cash and cash	equivalents	at end of	year		858,498		570,872

	Journal	Symposia	Total	Journal	Symposia	Total
	Income	Income	2020	Income	Income	2019
	2020	2020		2019	2019
	f	f			f
Wiley-Blackwell	1,381,915		1,381,915	1,298,881		1,298,881
JSTOR	10,526		10,526	11,423		11,423
Symposia		(206)	(206)	-	46,797	46,797
	1,392,441	(206)	1,392,235	1,310,304	46,797	1,357,101

		2020	2019
Dividends	received	30,077	36,914
Interest receivable		1,827	2,245
		31,904	39,159
Raising funds
		Unrestricted	Unrestricted
		funds	funds
		2020	2019
			F
Investment	management	19,905	23,774
		19,905	23,774

			Journal	Symposia	Total	Journal	Symposia	Total
			Expenditure	Expenditure	2020	Expenditure	Expenditure	2019
Staff costs			492,656		492,656	480,141		480,141
Lancaster rent			6,709		6,709	9,505		9,505
Stationery and printing			45		45	767		767
Telephone and communications			1,701		1,701	2,103		2,103
Office space			3,059		3,059	2,589		2,589
Furniture, equipment	and
hardware			4,182		4,182	4,453		4,453
Miscellaneous expenses			1,692		1,692	837		837
Petty cash expenditure			100		100	219		219
Advertising						199		199
Promotion and marketing			24,504		24,504	27,940		27,940
Development			14,162		14,162	15,991		15,991
Training expenses			3,840		3,840	1,470		1,470
Staff travel						2,003		2,003
Staff hospitality						1,563		1,563
Website design and
maintenance			10,109		10,109	9,613		9,613
DHL courier			72		72	2,292		2,292
Bristol salaries			26,734		26,734	14,734		14,734
Editors and advisors business
meetings			20,956		20,956	99,163		99,163
Trustees meetings			221		221	13,836		13,836
Tansley reviews			24,497		24,497	3,200		3,200
Workshops			1,168		1,168	10,000		10,000
Tansley grants			36,524		36,524	50,293		50,293
Contributions to trustees'		and
editors' institutions			364,916		364,916	387,640		387,640
Current Year Symposia				12,842	12,842		153,906	153,906
Next Generation Symposia							74,407	74,407
			1,037,846	12,842	1,050,688	1,140,551	228,313	1,368,864
Share ofsupport costs (see
note 7)			15,848		15,848	24,006		24,006
Share ofgovernance	costs (see
note 7)			5,362		5,362	6,225		6,225
			1,059,056	12,842	1,071,898	1,170,782	228,313	1,399,095
Analysis by fund
Unrestricted funds			1,059,056	12,842	1,071,898	1,170,782	228,313	1,399,095

			Support	Governance	2020	2019	Basis of
			costs	costs			allocation
Treasurer	- travel and	accommodation	393		393	528	Usage
Treasurer	- honorarium		5,000		5,000	5,000	Usage
Subscription s			2,995		2,995	1,519	Usage
Bank charges			2,013		2,013	6,265	Usage
Currency	conversion	gains/(losses)	5,447		5,447	10,694	Usage
Audit fees				3,500	3,500	3,500	Governance
Accountancy				1,472	1,472	2,300	Governance
Legal and	professional			390	390	425	Governance
			15,848	5,362	21,210	30,231
Analysed	between
Charitable	activities		15,848	5,362	21,210	30,231

Employment	costs	2020f	2019
Lancaster salaries		492,656	480,141
Bristol salaries		26,734	14,734
		519,390	494,875

							Unrestricted	Unrestricted
							funds	funds
							2020f	2019 F
	Gain/(loss) on sale of	investments					260,665	277,401
11	Fixed asset investments
						Listed	Cash in	Total
						investments	portfolio
	Cost or valuation
	At 1 January 2020					1,901,939	7,836	1,909,775
	Additions					1,634,842		1,634,842
	Valuation changes					244,440		244,440
	Gain/(Loss) on sale					16,224		16,224
	Cash movement						58,852	58,852
	Disposals					(1,682,630)		(1,682,630)
	At 31 December 2020					2,114,815	66,688	2,181,503
	Carrying amount
	At 31 December 2020					2,114,815	66,688	2,181,503
	At 31 December 2019					1,901,939	7,836	1,909,775
12	Financial instruments						2020	2019
							E
	Carrying amount offinancial			assets
	Debt instruments measured		at amortised		cost		415,954	330,779
	Equity instruments measured			at cost less	impairment		2,181,504	1,909,775
	Carrying amount offinancial			liabilities
	Measured at amortised	cost					147,857	101,696

13	Debtors
	Amounts falling	due		within one		year:			2020f	2019
	Wiley-Blackwell								405,428	319,356
	Jstor								10,526	11,423
	Prepayments								4,742	10,108
									420,696	340,887
14	Creditors: amounts			falling due		within one	year
									2020	2019
	Trade creditors								3,305	29,631
	Sundry creditors								1,196	1,201
	V.A.T creditor								59,521	19,721
	Accruals								83,835	51,143
									147,857	101,696
15	Cash generated	from operations							2020	2019
	Surplus for the year								593,001	250,792
	Adjustments for:
	Investment income		recognised		in	statement	offinancial	activities	(1,827)	(2,245)
	(Gain)/loss on disposal of investments								(16,224)	23,427
	Fair value gains	on	investments						(244,441)	(300,828)
	Movements in working			capital:
	(Increase)/decrease		in debtors						(79,809)	14,258
	Increase in creditors								46,161	7,209
	Cash generated	from/(absorbed				by) operations			296,861	(7,387)