2021-12-31-accounts

Trustees		Prof K Lindsey - Chairman	Prof K Lindsey - Chairman
		Prof L Dolan
		Mr ARM Campbell
		Prof M Harrison
		Prof AM Hethedington
		Prof RJ Norby
		Prof A Osbourn
		Mr LRoss
		Prof H Thomas -Treasurer		(deceased 12Jul 2022)
		Prof S Hiscock
		Prof PAtkinson
		Dr C Dolder (resigned	12	June 2020)
		Miriam Maus (appointed	7 Mar 2022)
		Dale Sanders (appointed		25 Jan	2022)
Charity number		«54867
Company	number	08789102
Registered	office	Bailrigg House
		Lancaster University
		Lancaster
		Lancashire
		LA1 4YE
Auditor		Riverside Accountancy	Lancaster		Limited
		Riverside Ofsces
		Second Floor
		26StGeorges Quay
		Lancaster
		LA1 1RD
Bankers		Barclays Bank PLC
		38 Market Street
		Lancaster
		LA1 4HR
Accountants		JA Fell &Co
		40 Hoghton Street
		Southport
		PR9 OPQ

		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
				2021	2020
			Notes	f	f
t
Charitable activities			3	1,339,009	1,392,235
Investments			4	28,007	31,904
Total income				1,367,016	1,424,139
~ECht
Raising funds			5	16,065	19,905
Charitable activities			6	1,045,406	1,071,898
Total resources expended				1,061,471	1,091,803
Net gains/(losses)		on investments	10	295,488	260,665
Net income for the year/
Net movement	in	funds		601,033	593,001
Fund balances	at 1 January 2021			3,312,841	2,719,840
Fund balances	at	31December 2021		3,913,874	3,312,841

			2021		2020
		Notes	8
Fixed assets
Investments				2,738,789	2,181,504
Current assets
Debtors		13	298,396		420,696
Cash at bank and in	hand		940,677		858,498
			1,239,073		1,279,194
Creditors: amounts	falling due within
one year		14	(63,988)		(147,857)
Net current assets				1,175,085	1,131,337
Total assets less current liabilities				3,913,874	3,312,841
Income funds
Unrestricted funds				3,913,874	3,312,841
				3,913,874	3,312,841

						2021		2020
					Notes	8
Cash flows from operating				activities
Cash generated		from operations			15		343,831		296,861
Investing	activities
Purchase	of investments					(909,761)		(1,634,842)
Proceeds	on disposal of investments					660,307		1,682,630
Cash movement		in investment		portfolio		(12,341)		(58,850)
Interest received						145		1,827
Net cash	used	in investing		activities			(261,651)		(9,235)
Net cash	used	in financing		activities
Net increase in		cash and cash equivalents					82,180		287,626
Cash and	cash equivalents		at beginning		ofyear		858,498		570,871
Cash and	cash	equivalents		at end of	year		940,677		858,498

	Journal	Journal	Symposia	Total
	Income	Income	Income	2020
	2021	2020	2020
	f		8
Wiley-Blackweg	1,328,660	1,381,915		1,381,915
JSTOR	10,349	10,526		10,526
Symposia			(206)	(206)
	1,339,009	1,392,441	(206)	1,392,235

		2021	2020
Dividends	received	27,862	30,077
Interest receivable		145	1,827
		28,007	31,904
Raising funds
		Unrestricted	Unrestricted
		funds	funds
		2021	2020f
Investment	management	16,065	19,905
		16,065	19,905

				Journal	Symposia	Total	Journal	Symposia	Total
				Expenditure	Expenditure 6	2021 6	Expenditure f	Expenditure 6	2020f
Staff costs				517,906		517,906	492,656		492,656
Lancaster rent				6,705		6,705	6,709		6,709
Stationery and	printing			126		126	45		45
Telephone and	communications			1,504		1,504	1,701		1,701
Office space				2,824		2,824	3,059		3,059
Furniture, equipment		and
hardware				2,801		2,801	4,182		4,182
Miscellaneous	expenses			3,972		3,972	1,692		1,692
Petty cash expenditure							100		100
Advertising				218		218
Promotion and	marketing			14,928		14,928	24,504		24,504
Development				18,367		18,367	14,162		14,162
Training expenses				2,321		2,321	3,840		3,840
Staff travel				910		910
Website design	and
maintenance				10,992		10,992	10,109		10,109
DHL courier							72		72
Bristol salaries				26,734		26,734	26,734		26,734
Editors and advisors		business
meetings				2,753		2,753	20,956		20,956
Trustees meetings				9,618		9,618	221		221
Tansley reviews				9,216		9,216	24,497		24,497
Workshops							1,168		1,168
Tansley grants				15,229		15,229	36,524		36,524
Contributions to trustees'			and
editors' institutions				375,337		375,337	364,916		364,916
Current Year Symposia								12,842	12,842
Next Generation	Symposia
				1,024,114		1,024,114	1,037,846	12,842	1,050,688
Share ofsupport costs (see
note 7)				14,377		14,377	15,848		15,848
Share ofgovernance		costs (see
note 7)				6,915		6,915	5,362		5,362
				1,045,406		1,045,406	1,059,056	12,842	1,071,898
Analysis by fund
Unrestricted funds				1,045,406		1,045,406	1,059,056	12,842	1,071,898

			Support	Governance	2021	2020	Basis of
			costs	costs			allocation
			f	f	f
Treasurer	- travel and	accommodation				393	Usage
Treasurer	- honorarium		5,000		5,000	5,000	Usage
Subscriptions			1,375		1,375	2,995	Usage
Bank charges			2,006		2,006	2,013	Usage
Currency	conversion	gains/(losses)	5,996		5,996	5,447	Usage
Audit fees				3,500	3,500	3,500	Governance
Accountancy				3,415	3,415	1,472	Governance
Legal and	professional					390	Governance
			14,377	6,915	21,292	21,210
Analysed	between
Charitable	activities		14,377	6,915	21,292	21,210

Employment	costs	2021	2020
			5
Lancaster salaries		517,906	492,656
Bristol salaries		26,734	26,734
		544,640	519,390

			Unrestricted	Unrestricted
			funds	funds
			2021	2020
				6
	Gain/(loss)	on sale ofinvestments	295,488	260,665
11	Fixed asset investments

11	Fixed asset inve	stmen	ts
						Listed	Unlisted	Cash in	Total
						investments	investments	portfolio
						6	6
	Cost or valuation
	At 1 January 2021					2,114,815		66,689	2,181,504
	Additions					909,761			909,761
	Valuation changes					277,963			277,963
	Gain/(Loss) on sale					17,526			17,526
	Cash movement							12,341	12,341
	Disposals					(660,307)			(660,307)
	At 31 December 2021					2,659,759		79,030	2,738,789
	Carrying amount
	At 31 December 2021					2,659,759		79,030	2,738,789
	At 31 December 2020					2,114,815		66,689	2,181,504
12	Financial instruments							2021	2020
								6
	Carrying amount	offinancial			assets
	Debt instruments	measured		at amortised		cost		287,465	415,954
	Equity instruments	measured			at cost less	impairment		2,738,789	2,181,504
	Carrying amount	offinancial			liabilities
	Measured at amortised		cost					63,988	147,857

13	Debtors
								2021	2020
	Amounts falling	due		within one year:				6	6
	Wiley-Blackwell							277,116	405,428
	Jstor							10,349	10,526
	V.A.Trepayment							6,165
	Prepayments							4,766	4,742
								298,396	420,696
14	Creditors: amounts			falling due within one year
								2021	2020
								6	6
	Trade creditors							3,241	3,305
	Sundry creditors							1,054	1,196
	V.A.Tcreditor								59,521
	Accruals							59,693	83,835
								63,988	147,857
15	Cash generated	from operations						2021f	2020 6
	Surplus for the year							601,033	593,001
	Adjustments for:
	Investment income		recognised		in statement	offinancial	activities	(145)	(1,827)
	(Gain)/loss on disposal ofinvestments							(17,526)	(16,224)
	Fair value gains	on	investments					(277,963)	(244,441)
	Movements in working			capital:
	Decrease/(increase)		in debtors					122,300	(79,809)
	(Decrease)/increase		in creditors					(83,869)	46,161
	Cash generated	from operations						343,831	296,861