2020-09-30-accounts

INTERNATIONAL DENDROLOGY SOCIETY UNAUDITED REPORT AND ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Registered Charity No. 1178252 Charitable Incorporated Organisation No. CE014010

INTERNATIONAL DENDROLOGY SOCIETY

REPORT AND ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

CONTENTS

Page
1	Reference and administrative information
2 - 4	Trustees’ Report
5	Independent Examiner’s Report
6	Statement of financial activities
7	Balance sheet
8 - 16	Notes to the accounts

INTERNATIONAL DENDROLOGY SOCIETY

REFERENCE AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2020

International Dendrology Society

Charity Name:	International Dendrology Society
Governing Instrument:	The Charity is a Charitable Incorporated Organisation not having a
	share capital, governed by its Constitution dated 4 May 2018 as
	amended on 5 September 2019.
Registered Charity No:	1178252
Charitable Incorporated Company No:	CE014010
Trustees:	Colonel J R G Crisp (Chairman)
	Mr A Brunel (appointed 19 February 2020)
	The Earl of Cork & Orrery
	Mrs C Feldman
	Lord Philip Howard (elected 9 February 2021)
	Mrs A M Johnson
	Mr W W R Kerr
	Mrs M-C de Laubarède (appointed 7 April 2020)
	Major General D A S Pennefather (resigned 7 April 2020)
	Sir John Parsons (resigned 19 November 2020)
	Mr Abraham Rammeloo (elected 9 February 2021)
	Vicomte P de Spoelberch
Registered Office:	Hergest Estate Office
	Kington
	Herefordshire
	HR5 3EG
Secretary:	Miss E A Malcolm (appointed 11 June 2020)
Bankers:	CAF Bank
	25 Kings Hill Avenue
	Kings Hill
	West Malling
	Kent
	ME19 3JQ
Investment Managers:	Cazenove Capital
	1 London Wall Place
	London
	EC2Y 5AU
Independent Examiner:	Sarah J Morley ACA
	Kendall Wadley LLP
	Granta Lodge
	71 Graham Road
	Malvern
	Worcestershire
	WR14 2JS

1

INTERNATIONAL DENDROLOGY SOCIETY

TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees present the report and accounts for the International Dendrology Society (“the Charity”), which are unaudited, for the year ended 30 September 2020. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document, the Charities Act 2011, and the requirements of the Statement of Recommended Practice 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 (FRS102) (as amended for accounting periods commencing from 1 January 2019).

The Charity was established by a Constitution registered on 4 May 2018. Under Agreements dated 12 December 2018, the International Dendrology Society, an unincorporated organisation registered in Jersey, and the Dendrology Charitable Company (Registered charity number 1041395 and Company Registered number 02816525) both transferred their assets and undertakings to the Charity at midnight on 31 December 2018. This combination was treated as a gift.

OBJECTIVES AND ACTIVITIES

The Charity has a membership across the world and was formed primarily for the advancement of science and spread of scientific knowledge particularly in the field of woody plants and related botany; the advancement of education particularly in the field of botany and botanical research by any charitable means including the publication and dissemination of the useful results of such research and by the provision of scholarships, grants or bursaries for the study of botany and by the promotion of study through visits to forests, woods, gardens and plantations in all parts of the world for botanical study and debate; and the advancement of environmental protection and improvement through the cultivation, preservation and protection of rare and endangered species, varieties and cultivars of woody plants in all parts of the world.

The Charity produces a Yearbook and is responsible for the development and updating of Trees and Shrubs Online , and makes grants to organisations around the world that are involved in the cultivation, preservation and protection of woody plants, and to individual dendrologists (often from developing countries) to enhance their professional development or to allow their participation in dendrological events worldwide.

The trustees confirm that they have paid due regard to the guidance given by the Charity Commission on public benefit and reviewed the objectives of the Charity this period in the context of this guidance. The public benefit of the Charity’s work is to promote public understanding and protection of woody plants across the world through its publications, projects and educational bursaries.

ACHIEVEMENTS AND PERFORMANCE

In line with its objectives, the main activities for the period were to organise study periods, and to produce publications. As a result of the COVID-19 pandemic, measures have been taken to continue to operate in a COVID-secure manner, including the introduction of videoconference meetings and remote working. The number of study periods and fundraising activities had to be curtailed, although many members chose not to receive a refund for cancelled study periods for which they had already paid. Nevertheless, work on publications has continued, including the Yearbook and the Trees and Shrubs Online website which is being updated genus by genus. As shown in note 6 to the accounts, a grant was awarded towards management costs of Trees and Shrubs Online and a bursary awarded to one individual to allow their participation on a tour, although the tour was subsequently cancelled.

Economic uncertainty adversely impacted the value of investments during the year but values largely recovered by the end of the year. The unrealised loss on investments in Schroder Multi-Asset Fund S Distribution Units was £2,559 in the year (compared to a gain on investments of £22,616 during the previous period following transfer of investments on 31 December 2018).

2

INTERNATIONAL DENDROLOGY SOCIETY

TRUSTEES’ REPORT

FOR THE PERIOD ENDED 30 SEPTEMBER 2020

(continued)

FINANCIAL REVIEW

For the year ended 30 September 2020, net expenditure was £9,718 after losses on investments, compared to net income of £376,745 in the previous period (including the receipt of net assets at fair value of £264,361 and gains on investments). The main expenditure during the year was the publication of the Yearbook and development of the Trees and Shrubs Online project. No payments were made in respect of political donations during the period. Further details of the financial position of the Charity are set out in the accounts on pages 6 to 16.

The Statement of Financial Activities summarises the incoming resources and resources expended and these are analysed between unrestricted funds and restricted funds. Restricted funds are funds subject to specific usage. Donations received for the development and maintenance of Trees and Shrubs Online, including adding new genera to the website, are treated as a restricted fund. Work on the website in the period included editing and new authorship and the unspent balance at the end of the period was £122,224 (2019: £135,325). A further restricted fund of £4,323 for educational purposes remains unspent at the end of the period.

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the Charity. At 30 September 2020, unrestricted funds totalled £240,480 (2019: £237,097).

All grants and donations received by the Charity are applied according to its objects. The trustees agree annually where to apply these funds as part of the budgeting process and monitor their application during the period by consideration of reports at trustees’ meetings.

Reserves policy

The trustees aim to ensure that there is sufficient unrestricted funding in place, or available, to ensure that commitments for the following twelve months can be met including the expected requirements for projects and office costs, and review future plans in this context, including the investment policy. Budgeted unrestricted expenditure for the next twelve months, net of membership subscriptions and apportionment of support costs, is £29,700 and therefore the assets of the Charity are considered adequate to fulfil its obligation.

Risk

The trustees review the risks to the Charity annually, and the risks have been reviewed during the last period. The major risk concerns the on-going funding of the Charity, which relies upon its membership and donations from individuals and other organisations to support its charitable activities. The publication of books is an important way in which the Charity meets its objectives; this can mean significant cost outlay before publication and makes the management of funds particularly important. A funding strategy is in place to ensure the work of the Charity can continue for at least twelve months ahead. The Charity has comprehensive insurance policies in place.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The activities of the Charity are governed by its Constitution registered on 4 May 2018 and amended on 5 September 2019 and managed by the trustees.

The minimum number of trustees is three and trustees generally meet three times a year. The trustees are responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

3

INTERNATIONAL DENDROLOGY SOCIETY

TRUSTEES’ REPORT

FOR THE PERIOD ENDED 30 SEPTEMBER 2020

(continued)

Trustees are recruited through recommendation, with a view to maintaining a balance of experience on the Board. Appointment generally takes place at the Annual General Meeting and trustees offer themselves for reelection at each Annual General Meeting. There is no fixed term of appointment. The Charity undertakes an induction process which includes meetings with other trustees and the Secretary and provides support for instruction on the responsibilities of trustees in the management of the Charity.

The trustees delegate responsibilities to the Secretary to manage the operation of the Charity on a day-to-day basis, but decisions of a strategic nature are reserved for the Board of trustees.

FUTURE PLANS

The Charity’s activities will continue to advance the public understanding of woody plants and to promote the cultivation, preservation and protection of endangered species and varieties, through its membership, publications, the development of Trees and Shrubs Online and support of international projects.

Colonel J R G Crisp Trustee

9 February 2021

4

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF

THE INTERNATIONAL DENDROLOGY SOCIETY

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2020 which are set out on pages 6 to 16.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 in the previous year your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants, England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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;

4. the financial statements 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.

Sarah J Morley ACA Kendall Wadley LLP Granta Lodge

9 February 2021

5

71 Graham Road Malvern Worcestershire WR14 2JS

INTERNATIONAL DENDROLOGY SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 SEPTEMBER 2020

Note Income from: Donations 2 Charitable activities 3 Investments 4 Other: Receipt of net assets at fair value 11 Total incoming resources Expenditure on: Raising funds 5 Charitable activities 5 Total resources expended Net income for the period before gains and losses on investments (Losses)/gains on investments Net income for the period and movement in funds Total funds at the beginning of the period Total funds at the end of the period	Unrestricted funds £ 31,206 49,787 11,288 - 92,281 (23,966) (62,373) (86,339) 5,942 (2,559) 3,383 237,097 240,480	Restricted funds £ 54,579 - - - 54,579 (2,561) (65,119) (67,680) (13,101) - (13,101) 139,648 126,547	Total 2020 £ Total 2019 £ (Notes 1 & 12) 85,785 169,661 49,787 40,646 11,288 4,611 - 264,361 146,860 479,279 (26,527) (22,340) (127,492) (102,810) (154,019) (125,150) (7,159) 354,129 (2,559) 22,616 (9,718) 376,745 376,745 - 367,027 376,745

The notes on pages 8 to 16 form part of these accounts.

All recognised gains and losses are included in the above.

All income and expenditure derive from continuing operations.

6

INTERNATIONAL DENDROLOGY SOCIETY

BALANCE SHEET

AT 30 SEPTEMBER 2020 Note 2020 £ £ Fixed assets Tangible assets 7 - Investments 8 293,245 Current assets Other debtors 956 Cash at bank and in hand 150,372 151,328 Liabilities Creditors falling due within one year 9 (34,372) Net current assets 116,956 Creditors falling due after more than one year 9 (43,174) Total net assets 367,027 Funds of the Charity 12 Unrestricted funds 240,480 Restricted funds 126,547 Total Charity funds 367,027	2019 £ £ - 296,428 4,895 160,158 165,053 (36,151) 128,902 (48,585) 376,745 237,097 139,648 376,745	2019 £ £ - 296,428 4,895 160,158 165,053 (36,151) 128,902 (48,585) 376,745 237,097 139,648 376,745
		376,745
		237,097 139,648 376,745

The notes on pages 8 to 16 form part of these accounts.

These accounts are prepared in accordance with the Charities Act of 2011 and Financial Reporting Standard 102 and SORP (FRS 102). Although the Charities (Accounts and Reports) Regulations 2008 refer to an earlier withdrawn SORP, these accounts follow SORP (FRS 102) as the applicable generally accepted accounting practice.

The accounts on pages 6 to 16 were approved by the trustees and were signed on its behalf by:

Colonel J R G Crisp Trustee

9 February 2021

7

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

1 Principal accounting policies

Basis of accounting

The accounts have been prepared under the historical cost convention modified for the revaluation of investments and on a going concern basis.

The Charity constitutes a public benefit entity as defined by Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the financial statements have been prepared in accordance with FRS 102 (issued on 16 July 2014), the Charities Act 2011, and the Statement of Recommended Practice 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 (FRS102) (as amended for accounting periods commencing from 1 January 2019). As permitted by FRS 102 Section 1A, the accounts do not include a cash flow statement.

Prior period comparatives

Comparative figures cover seventeen months from 4 May 2018 to 30 September 2019. At midnight on 31 December 2018, the International Dendrology Society, an unincorporated organisation registered in Jersey, and the Dendrology Charitable Company (Registered charity number 1041395 and Company Registered number 02816525) both transferred their assets and undertakings to the Charity at midnight on 31 December 2018 under Agreements dated 12 December 2018. Since the Charity had undertaken activity in the period to 31 December 2018, in accordance with SORP module 27, the group combination of the activities of the Charity with the International Dendrology Society (unincorporated organisation) and Dendrology Charitable Company could not be accounted for as a merger. Rather, in accordance with FRS 102 section PBE34.77 the combination is treated as a gift and accounted for as required by FRS 102 section 19 with the excess of the fair value of assets received over liabilities assumed upon the transfers shown as a gain in the Statement of Total Recognised Gains and Losses. Accordingly, prior period income and expenditure figures primarily relate to nine months of charitable operations within the CIO from 1 January 2019 to 30 September 2019 whilst the figures for 2020 relate to the year to 30 September 2020.

Taxation

The company is a registered charity and as such is not generally liable to taxation. For this reason, there is no tax reconciliation note.

Income

All income is included in the Statement of Financial Activities when the Charity is legally entitled to the income, its receipt is probable, and the amount can be measured reliably.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Support costs, including the governance costs of general running of the Charity and fulfilling statutory and constitutional requirements, are apportioned across activities based upon estimated time spent.

Grants are made in accordance with the objectives of the Charity and authorised by the trustees.

Investments

Investments are shown in the accounts at market value. Gains or losses on realisation or revaluation are added to or deducted from capital as appropriate and shown separately in the Statement of Financial Activities.

Cash and cash equivalents

Cash and cash equivalents include deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

8

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

Creditors

Creditors are measured at settlement amount. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Life membership subscriptions are treated as deferred income within creditors and amortised to income over a period of twenty years, being the estimated length of time over which life membership benefits are expected to be used by the members.

Financial instruments

In accordance with section 11 of FRS 102, the charity has basic financial instruments that are recognised in the balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Liabilities are recognised when there is a measurable present obligation for a likely transfer of economic benefits upon settlement.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund, where appropriate.

Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make

judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

9

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

2 Donations Unrestricted funds: Donations Restricted fund: Trees and Shrubs Online Donations received for development and maintenance: Rothschild Foundation Other Donations received for addition and updating of new genera Total 3 Charitable activities Annual membership subscriptions Amortised life membership subscriptions Study periods income Sales of publications and royalty Other 4 Investment income Dividends Interest	2020 £ 31,206 - 26,797 26,797 27,782 54,579 85,785 £ 30,900 6,202 11,870 545 270 49,787 £ 11,154 134 11,288	2019 £ (Note 1) 27,031
		30,000 13,000
		43,000 99,630
		142,630
		169,661 £ 29,245 4,746 2,950 689 3,016 40,646 £ 4,549 62 4,611

10

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

5 Total resources expended Basis of apportionment Costs directly allocated to activities Tour costs Direct Other activities Direct Membership and events administration Direct Study period costs Direct Yearbook and other publication costs Direct Trees and Shrubs Online Direct Grants & bursaries (Note 6) Direct Membership subscriptions Direct Support costs apportioned to activities Accountancy fees Staff time Administration and other office salaries and fees Staff time Meeting costs Staff time General office costs Staff time Total support costs Total resources expended	Raising funds Charitable activities Total 2020 £ £ £ 5,216 - 5,216 - - - 8,206 2,735 10,941 - 5,278 5,278 - 29,649 29,649 - 61,811 61,811 - 5,631 5,631 - 1,298 1,298 3,064 4,931 7,995 5,533 8,904 14,437 1,277 2,056 3,333 3,231 5,199 8,430 13,105 21,090 34,195 26,527 127,492 154,019	Total 2019 (Note 1) £ 4,259 2,515 7,388 2,547 27,074 43,606 3,268 275
		8,890 12,198 3,375 9,755
		34,218
		125,150

Accountancy fees comprise £960 (2019: £1,080) in respect of independent examination and £7,035 (2019: £7,810) for accounts preparation and related costs and support with management reporting.

Support costs include governance costs of £8,943 (2019: £9,563) comprising year end accounting and independent examination, meeting expenses and legal costs, and an allocation of administration and other office salaries. Support costs are apportioned across activities based upon estimated staff time spent.

Salaries in respect of two part-time employees include wages and salaries of £12,962 (2019: £12,057) and pension cost of £155 (2019: £141).

No trustees received remuneration nor reimbursement of expenses. Trustees’ liability insurance is in place.

11

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

The analysis of the previous period’s costs was as follows:

Basis of apportionment Raising funds Charitable activities £ £ Costs directly allocated to activities Tour costs Direct 4,259 - Other activities Direct - 2,515 Membership and events administration Direct 7,388 - Study period costs Direct - 2,547 Yearbook and other publication costs Direct - 27,074 Trees and Shrubs Online Direct - 43,606 Grants & bursaries (Note 6) Direct - 3,268 Membership subscriptions Direct - 275 Support costs apportioned to activities Accountancy fees Staff time 2,778 6,112 Administration and other office salaries Staff time 3,812 8,386 Meeting costs Staff time 1,055 2,320 General office costs Staff time 3,048 6,707 Total support costs 10,693 23,525 Total resources expended 22,340 102,810 Grants and bursaries Student bursaries for tours and related costs Contribution to management of_Trees and Shrubs Online_ Preparation of_Flora of Golestan_	Raising funds Charitable activities £ £ 4,259 - - 2,515 7,388 - - 2,547 - 27,074 - 43,606 - 3,268 - 275	Total 2019 (Note 1) £ 4,259 2,515 7,388 2,547 27,074 43,606 3,268 275 8,890 12,198 3,375 9,755 34,218 125,150 2020 £ 631 5,000 - 5,631	2019 £ (Note 1) 2,268 - 1,000 3,268
	2,778 6,112 3,812 8,386 1,055 2,320 3,048 6,707
	10,693 23,525
	22,340 102,810

6 Grants and bursaries

12

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

7 Tangible fixed assets

Tangible fixed assets at the end of the period comprise a database system.

Cost At beginning of the period Assets received (Note 11) Disposals Cost of tangible assets at end of the period Depreciation At beginning of the period Upon assets received (Note11) Eliminated on disposals Charge for the period Depreciation at end of the period Net book value at end of the period	2020 £ 1,014 - - 1,014 1,014 - - - 1,014 -	2019 £ - 2,079 (1,065)
		1,014
		- 1,876 (1,065) 203
		1,014 -

8 Fixed asset investments

Fixed asset investments
			Funds for		Total	Total
	Investments		reinvestment		2020	2019
	£		£		£	£
Market value of investments at beginning of	226,428		70,000		296,428	-
the period
Market value of investments received	-		-		-	274,428
(Note 11)
Disposals	-		-		-	(292,728)
Acquisitions at cost	69,376		(70,000)		(624)	292,112
Change in value in the period	(2,559)		-		(2,559)	22,616
Market value of investments at end of the	293,245		-		293,245	296,428
period
Cost of investments at end of the period	291,488		-		291,488	292,112

At the end of the year, all investments are held by Cazenove Capital in Schroder Charity Multi-Asset Fund S Distribution Units.

13

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

8 Fixed asset investments (continued)

The movements in fixed assets investments in the previous period were:

Investments Funds for reinvestment Total 2019 £ £ £ Market value of investments received (Note 11) 274,428 - 274,428 Disposals (292,728) - (292,728) Acquisitions at cost 222,112 70,000 292,112 Change in value in the period 22,616 - 22,616 Market value of investments at end of the period 226,428 70,000 296,428 Cost of investments at end of the period 222,112 70,000 292,112 9 Creditors 2020 2019 £ £ Creditors falling due within one year Trade creditors 13,537 7,046 Other creditors 70 377 Accruals 13,175 15,387 Deferred income (Note 10): Life membership subscriptions 6,005 6,171 Study period income 1,510 7,170 Subscriptions in advance 75 - 7,590 13,341 34,372 36,151 Creditors falling due after more than one year Deferred income: Life membership subscriptions (Note 10) 43,174 48,585	Investments Funds for reinvestment Total 2019 £ £ £ Market value of investments received (Note 11) 274,428 - 274,428 Disposals (292,728) - (292,728) Acquisitions at cost 222,112 70,000 292,112 Change in value in the period 22,616 - 22,616 Market value of investments at end of the period 226,428 70,000 296,428 Cost of investments at end of the period 222,112 70,000 292,112 9 Creditors 2020 2019 £ £ Creditors falling due within one year Trade creditors 13,537 7,046 Other creditors 70 377 Accruals 13,175 15,387 Deferred income (Note 10): Life membership subscriptions 6,005 6,171 Study period income 1,510 7,170 Subscriptions in advance 75 - 7,590 13,341 34,372 36,151 Creditors falling due after more than one year Deferred income: Life membership subscriptions (Note 10) 43,174 48,585	Investments Funds for reinvestment Total 2019 £ £ £ Market value of investments received (Note 11) 274,428 - 274,428 Disposals (292,728) - (292,728) Acquisitions at cost 222,112 70,000 292,112 Change in value in the period 22,616 - 22,616 Market value of investments at end of the period 226,428 70,000 296,428 Cost of investments at end of the period 222,112 70,000 292,112 9 Creditors 2020 2019 £ £ Creditors falling due within one year Trade creditors 13,537 7,046 Other creditors 70 377 Accruals 13,175 15,387 Deferred income (Note 10): Life membership subscriptions 6,005 6,171 Study period income 1,510 7,170 Subscriptions in advance 75 - 7,590 13,341 34,372 36,151 Creditors falling due after more than one year Deferred income: Life membership subscriptions (Note 10) 43,174 48,585	Investments Funds for reinvestment Total 2019 £ £ £ Market value of investments received (Note 11) 274,428 - 274,428 Disposals (292,728) - (292,728) Acquisitions at cost 222,112 70,000 292,112 Change in value in the period 22,616 - 22,616 Market value of investments at end of the period 226,428 70,000 296,428 Cost of investments at end of the period 222,112 70,000 292,112 9 Creditors 2020 2019 £ £ Creditors falling due within one year Trade creditors 13,537 7,046 Other creditors 70 377 Accruals 13,175 15,387 Deferred income (Note 10): Life membership subscriptions 6,005 6,171 Study period income 1,510 7,170 Subscriptions in advance 75 - 7,590 13,341 34,372 36,151 Creditors falling due after more than one year Deferred income: Life membership subscriptions (Note 10) 43,174 48,585
	222,112
		2020 £ 13,537 70 13,175 6,005 1,510 75 7,590 34,372 43,174
			6,171 7,170 -
			13,341
			36,151
			48,585

14

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

10 Deferred income

Life membership subscriptions Deferred income at the beginning of the period Net deferred income received on 31 December 2018 Subscriptions received in the period and deferred Amounts released Deferred income at end of the period Being: Creditors falling due within one year Creditors falling due after more than one year	2020 £ 54,756 - 625 (6,202) 49,179 6,005 43,174 49,179	2019 £ - 52,252 7,250 (4,746)
		54,756
		6,171 48,585 54,756

Deferred income for study period income relates to amounts received during the period for attendance at study periods due to take place after 30 September 2020. Subscriptions in advance relate to membership subscriptions received in respect of future years.

11 Receipt of net assets at fair value in the previous period

The International Dendrology Society, an unincorporated organisation registered in Jersey, and the Dendrology Charitable Company (Registered charity number 1041395 and Company Registered number 02816525) both transferred their assets and undertakings to the Charity at midnight on 31 December 2018 under Agreements dated 12 December 2018. As explained in Note 1, this combination was accounted for as a gift in the accounts for the previous period.

The net assets received at fair value comprised:

Tangible fixed assets Fixed asset investments Debtors Cash at bank and in hand Current liabilities Non-current liabilities Net assets	£ 203 274,428 29,000 26,674 (19,658) (46,286) 264,361

15

INTERNATIONAL DENDROLOGY SOCIETY

NOTES TO THE ACCOUNTS

30 SEPTEMBER 2020

(continued)

12 Movements in funds

Movements in funds
At beginning of the period Incoming resources Resources expended (Losses)/gains on investments At end of the period Restricted funds At beginning of the period Incoming resources Resources expended At end of the period	2020 Unrestricted funds Restricted funds (Note 13) Total £ £ £ 237,097 139,648 376,745 92,281 54,579 146,860 (86,339) (67,680) (154,019) (2,559) - (2,559) 240,480 126,547 367,027 2020 Education fund Trees and Shrubs Online Total £ £ £ 4,323 135,325 139,648 - 54,579 54,579 - (67,680) (67,680) 4,323 122,224 126,547	2019 Unrestricted funds Restricted funds (Note 13) Total £ £ £ - - - 291,748 187,531 479,279 (77,267) (47,883) (125,150) 22,616 - 22,616
		237,097 139,648 376,745
		2019 Education fund Trees and Shrubs Online Total £ £ £ - - - 4,323 183,208 187,531 - (47,883) (47,883) 4,323 135,325 139,648

13 Restricted funds

During the year, donations were received to continue the Charity’s Trees and Shrubs Online project, both for development, editing and maintenance of the website (including a grant awarded by the Charity itself) and for authorship of information about new genera not included in the original W J Bean publication. Resources expended in the year include apportioned support costs of £5,869 (2019: £4,277).

14 Analysis of net assets

Analysis of net assets
		2020			2019
	Unrestricted	Restricted		Unrestricted	Restricted
	funds	funds	Total	funds	funds	Total
	£	£	£	£	£	£
Fixed asset investments	293,245	-	293,245	296,428	-	296,428
Current assets	6,319	145,009	151,328	13,160	151,893	165,053
Current liabilities	(15,910)	(18,462)	(34,372)	(23,906)	(12,245)	(36,151)
Non-current liabilities	(43,174)	-	(43,174)	(48,585)	-	(48,585)
	240,480	126,547	367,027	237,097	139,648	376,745

16