OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Charity Registration No. 1179467

BRITISH SOCIETY FOR GEOMORPHOLOGY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

BRITISH SOCIETY FOR GEOMORPHOLOGY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number

Independent examiner

Dr. Richard Williams Miss Kathryn Kemble Dr Richard Jeffries Prof Heather Viles Prof Andrew Russell Dr Eli Lazarus Dr Fiona Clubb

Dr Hannah Williams

Dr Matilda Biddulph

Dr Matthew Westoby Dr Louise Collard Dr Elizabeth Dingle

Dr Lucy Clarke

Dr Hywel Griffiths

1179467

Lentells Limited Ash House Cook Way Bindon Road Taunton Somerset TA2 6BJ

(Appointed 8 September 2020) (Appointed 8 September 2020) (Appointed 8 September 2020) (Appointed 15 September 2021) (Appointed 15 September 2021) (Appointed 15 September 2021) (Appointed 15 September 2021) (Appointed 15 September 2021)

BRITISH SOCIETY FOR GEOMORPHOLOGY

CONTENTS

Page
Committee report 1 - 7
Independent examiner's report 9
Statement of financial activities 8
Balance sheet 10
Statement of cash flows 14
Notes to the financial statements 11 - 21

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).

Objectives and activities

The charity is established to advance research, education and professional practice in the science of geomorphology, in particular: through the promotion of research; by the formation of working parties dealing with co-operative projects; by the publication of the results of such research; by the holding of meetings; and by cooperating with kindred organisations. The trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives and in setting the grant making policy for the year.

The charity’s missions are to support scientific excellence in geomorphology through: fostering excellence and increased investment and support for geomorphology; developing applied geomorphological research; having a major impact on environmental policy and practice and providing a public benefit; disseminating new geomorphological research and policy agendas; and developing a new generation of geomorphologists equipped to address interdisciplinary challenges.

The charity achieves these missions through the award of small grants, primarily to postgraduates, early career researchers, and other higher education and professional practitioners; through support for organisation of and attendance at, scientific and educational meetings, through sponsorship of working groups; through the publication of the results of research in books including the online Geomorphological Techniques and, especially, through its Journal, Earth Surface Processes and Landforms , published in association with Wiley; and through the maintenance of an open access website. These activities are overseen by five Sub-committees of the Executive Committee. Grants are awarded on an open competitive basis twice a year. Recipients of grants are required to report on the meetings supported or the research carried out and these reports are published on the Society’s website.

The Charity is in the form of a Society open for membership to anyone with an interest in geomorphology.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Activities in 2020 have been significantly affected by the Covid-19 crisis. Many activities had to be cancelled, leading to underspent. Meanwhile, income has been mostly unaffected (subscriptions and Wiley grant and royalties).

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The Annual General Meeting

The 2020 AGM was supposed to take place at Northumbria University. The event was cancelled and replaced by a well-attended online webinar on the 8 th September 2020. The all-day event focused on presentations by the awards winners, a presentation by Stuart Lane (editor of Earth Surface Processes and Landforms) on changing publication requirements, and ample time for discussion and networking.

2020 awards were made to Prof. Ellen Wohl (Linton Award), Dr Duna Roda-Boluda (Chorley Award), Dr. Joe Wheaton (Warwick Award), Dr Catriona Thompson (Kirkby Award), and Aaron Wyld (Sweeting Award). All delivered excellent talks that constituted the major part of the event.

The conference costs were limited to the purchase of a professional Zoom licence for £528, which has been used for many other virtual activities over the year (hence why this expense item is categorised as “Miscellaneous” rather than directly related to the AGM), £200 for the Marjorie Sweeting Award and £275 for medals, leaving £9,525 unspent out of the £10k allocated budget.

We are immensely grateful to Chris Skinner and Josh Ahmed who have put together a very successful event with very little time and resources, with the help of Stephen Tooth and Heather Viles.

Grant Disbursement and Awards

One of the main activities of the BSG consists of providing grants to support research and facilitate conference attendance, especially to postgraduate and early career researchers. The BSG also provided funding to support geomorphological sessions at scientific conference in the UK and abroad, and it has awarded prizes to individuals to mark particular achievements. Grants and awards are competitive, with the selection process being overseen by the relevant sub-committees (e.g., Research sub-committee for research grants).

Due to Covid-19, many conferences and research activities have been cancelled, leading to a very low number of applications to all grant schemes.

Postgraduate Development

The BSG’s main Postgraduate Development activity is the December Windsor workshop, which consists of a series of training courses aimed at new postgraduate researchers. The workshop is subsidised by the BSG. The Windsor workshop was cancelled but the Postgraduate Forum has been extremely active during the year, organising a series of innovative virtual events that were well-attended and received excellent feedback. We are extremely grateful to the Postgraduate Forum for reinforcing a sense of community within postgraduates at a time where they needed it most.

Enhancing the reputation of the BSG

The Society continues to develop its international profile through sponsorship and co-sponsorship of sessions at conferences, including those hosted by the European Geosciences Union (EGU). The BSG, with the Royal Geographical Society (with the Institute of British Geographers), has an avenue for members to become Chartered Geomorphologists, CGeog (Geomorph). This is the professional status qualification for those with competences, experience and professionalism in the field.

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Financial review

The activities outlined above are possible thanks to membership subscriptions and the annual Wiley grant and royalties in relation to the journal Earth Surface Processes and Landforms, a Wiley journal whose title is jointly owned with the BSG. The Society continues to be run at minimal operating costs primarily by unpaid committee members. We employ a financial and administrative assistant part-time. In 2020, all communication and subcommittee meetings have been virtual, thereby limiting costs and the society’s carbon footprint. The provision of efficient virtual communication tools during the pandemic has been beneficial, and we propose to keep all future committee and sub-committee meetings virtual.

Annual surplus and cash flow

Total income in the year was £82,814 and the expenditure £39,791, giving a significant surplus of income of £43,825. At the end of the financial year, there was £99,700 in the current account and £24,327 on the Society’s PayPal account. Total cash reserves have been increased to £124,027 from £79,087 in 2019. This is the result of: excess from previous years building up, and covid-19 that led to significant disruption of meetings and other activities. Meetings were either cancelled or made virtual, and the number of application to grants plummeted, leading to major underspent from many committees.

Subscription income excluding registration to Windsor workshop was £12,340 in 2019. It drops to £8,500 in 2020. We typically have a high number of new subscriptions before the AGM, in particular from postgraduate students who make a one-off payment for a 4-year subscription. This did not happen in 2020 as the virtual event was open to all, leading to a reduced income despite our number of members remaining stable.

The costs of running the society are down to £12,808 (from £16,348 in 2019). These running costs include committee expenses, employment of the financial and administrative assistant, and additional miscellaneous expenses (liability insurance, accounting costs, bank fees, e-mail provider); they amount to 16% of the Society’s income (19% in 2019, 13% in 2018).

In 2020, the Society disbursed £20,496 in grants to support research, attendance at scientific conferences, working groups and workshops, mostly to postgraduates and early career researchers. This represents a significant drop from the £31-34k spent in previous years. It is due to the low number of application as a result of the cancelation of most conferences and research activities in response to Covid-19.

Reserve and Investment Accounts

Our Jupiter Ecology Fund Investment remains stable with a value of £30,392 on the 31st December 2020 compares to £29,190 on the 31st December 2019.

Investment powers and reserve policies

At the end of 2020, the Society’s available funds are standing at £154,419, including £124,027 cash and cash equivalent (£79,087 in 2019) and £30,392 of the Jupiter Ecology Fund Investment. The Society has accrued a surplus of £65,314 above its planned reserves of £89,105. The increase in surplus is a direct result of the Covid-19 crisis.

Risk management policy

The Executive Committee has reviewed and keeps under review the risks facing the Society, and has in place the necessary policies to mitigate those risks.

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

Forecast income and expenditure 202 1 and beyond

Most sub-committees have underspent as a result of disruptions by Covid-19. The Society has accumulated a significant surplus that it needs to spend. However, the impact of Covid-19 on the Society’s ability to operate and deliver its core activities will likely persist in 2021, potentially leading to an even greater surplus by the end of 2021.

The Executive Committee has decided to keep most 2021 budgets at the 2020 level but to make extra funding available in the form of a fund to which the different sub-committees can apply: the BSG needs to find innovative ways to spend while fulfilling its aims.

The BSG will keep subsiding the Annual Meeting by £10,000 in 2021 (which will likely be virtual), but it is proposed that £20,000 are actually spent on future Annual Meetings, at least until the Society’s surplus has been reduced to nearly zero. These £20,000 can be used to significantly reduce the registration fee for participants, potentially increasing the attractiveness and profile of the event and the Society.

The BSG will subside the Windsor Postgraduate Workshop by £6,000, and the Research Committee budget will be raised by £5,000 to £43,000 (core of the BSG support to early career and postgraduate students). The Outreach Committee budget will be £2,500. The Publications Committee budget will remain at £3,500, and the Professional Committee will be allocated £3,000. All sub-committees will be welcome to submit proposals to spend the additional “disbursement fund”.

The Society is largely dependent on Wiley and our journal, Earth Surface Processes and Landforms, for its income. Early in 2020, Wiley announced an agreement with Jisc, “an organisation providing digital solutions for UK education and research”. This new agreement not only eliminates the threat of losing income from Wiley, but also makes the journal more attractive to the UK scientific community by providing open access at no extra costs for authors. These are excellent news for the Society.

Income from Wiley is supplemented by annual subscriptions. The value of membership of the Society is increasing, most notably through increases in the value of grants to individuals and groups, as well as support for conference and a growing range of means to promote and advance geomorphology through research, education and the dissemination of knowledge. To increase the attractiveness of the Society, the cost of membership will be reduced by 25% in 2021.

Covid-19 is causing significant disruption to the Society’s activities but the financial threat in terms of loss of income is very limited, as the BSG’s main sources of income are royalties and grants from Wiley which are remaining stable, and membership subscriptions.

Structure, governance and management

The charity is a charitable incorporated organisation registered on 6 August 2018 under charity number 1179467. The governing document is the charity’s constitution registered on the same date. Its address is c/o Royal Geographical Society (with IBG), 1 Kensington Gore, London SW7 2AR.

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees who served during the year and up to the date of signature of the financial statements were:

Dr. Tristram Hales (Resigned 8 September 2020) Prof. Stephen Tooth (Resigned 8 September 2020) Dr. Louise Slater (Resigned 8 September 2020) Dr. Richard Williams Miss Kathryn Kemble Dr Richard Jeffries Prof Anne Mather (Resigned 15 September 2021) Dr Mikael Attal (Resigned 15 September 2021) Dr Marco Van de Wiel (Resigned 15 September 2021) Dr Tom Holt (Resigned 15 September 2021) Dr Chris Skinner (Resigned 15 September 2021) Prof Heather Viles Prof Andrew Russell Dr Eli Lazarus Dr Fiona Clubb (Appointed 8 September 2020) Dr Hannah Williams (Appointed 8 September 2020) Dr Matilda Biddulph (Appointed 8 September 2020)

There must be between eight and fourteen charity trustees. The trustees retire by rotation.

At every annual general meeting of the members of the BSG, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office, but if there is only one charity trustee, he or she shall retire.

The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot.

Vacancies are advertised by the BSG in advance of each annual general meeting. The vacancies are filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled following the procedure specified below.

The charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed, or as an additional charity trustee, provided that the number of charity trustees does not exceed fourteen.

Any person who retires as a charity trustee by rotation or by giving notice is eligible for reappointment. A charity trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive term but may be reappointed after an interval of at least three years.

The charity trustees will make available to each new charity trustee, on or before their first appointment:

(a) A copy of this constitution and any amendments made to it.

(b) A copy of the BSG’s latest annual report and statement of accounts.

(c) Access to the BSG’s “Governance” Drive which includes role descriptors and handover guidance (containing all relevant information for the good performance of each trustee’s functions). Retiring trustees are expected to brief the newly appointed trustees at the handover.

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The BSG is administered by an executive committee (see below for membership at time of submission) and five sub-committees, plus a forum of postgraduate student representatives , and an administrative assistant.

BSG Executive Committee

Professor Heather Viles President P rofessor Andrew Russell Chair Miss Kathryn Kemble Senior Deputy Chair (1/2 position) Dr Richard Jeffries Senior Deputy Chair (1/2 position) Dr Louise Callard Junior Deputy Chair Dr Richard Williams Honorary Secretary Dr M att Westoby Honorary Treasurer Dr Lucy Clarke VC Research SC Dr Fiona Clubb OS Research SC Dr Hywel Griffiths VC Outreach and Education SC Dr Hannah Williams OS Outreach and Education SC Dr Eli Lazarus VC Communications and Publications SC Dr Elizabeth Dringle OS Communications and Publications SC Dr Matilda Biddulph VC Professional Geomorphology SC Dr Eleanor Miles OS Professional Geomorphology SC (1/2 position) Dr Gez Foster OS Professional Geomorphology SC (1/2 position) Ms Marina Ruiz Sanchez-Oro Postgraduate Forum - Chair Dr Anne Baar Membership Secretary Dr Susan Conway IAG Representative

The various additional sub-committees are:

Research Sub-committee

Communications and Publications Sub -committee Outreach and Education Sub-committee Professional Geomorphology Sub-committee Finance Sub-committee Postgraduate Forum

Organisational and Decision Making Structure of the Charity

The administration of the charity is overseen by an Executive Committee which normally meets three times each year. The Executive Committee membership comprises: the President and five principal officers of the charity (Chair, Senior Deputy Chair, Junior Deputy Chair, Hon Secretary and Hon Treasurer).

The day to day running of the Charity rests with a number of members of the Executive and Sub-C ommittees but in practice falls largely to the Chair, Honorary Secretary and Honorary Treasurer, supported by a part-time administrative and finance assistant.

There are five S ub- C ommittees concerned with Research, Education & Outreach, Publications , Finance , and Professional Geomorphology and Practice, as well as a Postgraduate Forum, that together drive the missions of the Society and report to the Executive Committee.

Relations of the Charity with Other Organisations

The British Society for Geomorphology is affiliated to the Royal Geographical Society (with the Institute of British Geographers) and to the Geological Society of London. The charity’s permanent office is located at the premises of the Royal Geographical Society.

The British Society for Geomorphology is also a member of the International Association of Geomorphologists.

BRITISH SOCIETY FOR GEOMORPHOLOGY

COMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The Committee r eport was approved by the Board of Trustees.

Dr Matthew Westoby Trustee

26 November 2021

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Unrestricted
funds
funds
2020
2019
Notes
£
£
Income and endowments from:
Donations and legacies 3 29,221
182,654
Investments 4 -
1
Other income 5 53,193
54,780
Total income 82,414
237,435
Expenditure on:
Charitable activities 7 39,791
62,364
Net gains/(losses) on investments 12 1,202
6,036
Net movement in funds 43,825
181,107
Fund balances at 1 January 2020 181,107
-
Fund balances at 31 December 2020 224,932
181,107

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

BRITISH SOCIETY FOR GEOMORPHOLOGY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BRITISH SOCIETY FOR GEOMORPHOLOGY

I report to the Trustees on my examination of the financial statements of British Society for Geomorphology (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements 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 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Lentells Limited

P A Stallard FCA

Ash House Cook Way Bindon Road Taunton Somerset TA2 6BJ

Dated: 27 November 2021

BRITISH SOCIETY FOR GEOMORPHOLOGY

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2020
£
74,442
124,027
198,469
(3,929)		 £
30,392
194,540
224,932
224,932
224,932		 2019
£
75,217
79,087
154,304
(2,387)		 £
29,190
151,917
181,107
181,107
181,107

The financial statements were approved by the Trustees on 26 November 2021

Dr Matthew Westoby Trustee

BRITISH SOCIETY FOR GEOMORPHOLOGY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

The British Society for Geomorphology is a Charitable Incorporated Organisation registered with the Charity Commission on 6 August 2018 (No.1179467) and the governing document is its constitution last amended 6 August 2018. Its address is c/o Royal Geographical Society (with IBG) , 1 Kensington Gore, London, SW7 2AR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Membership and other income is recognised as income in the year of receipt. as are other donations and fees.

Dividends, Bank and Building Society interest are apportioned between funds with reference to the balance on each fund at the beginning of the year.

BRITISH SOCIETY FOR GEOMORPHOLOGY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure and irrecoverable VAT

Grants paid are all included in the SOFA when the grant is approved and paid, if the award creates a binding obligation. All other expenditure on charitable activities is generally recognised when it is incurred as is accounted for gross.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

Investments held for long term capital growth are classified as Fixed Asset Investments, and are shown on the balance sheet at market value at the year end. Investment income is accounted for in the year in which the charity is entitled to the receipt.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BRITISH SOCIETY FOR GEOMORPHOLOGY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Frequency of reporting period

The charity was dormant in the period 6 August 2018 through to 31 December 2018. The charity inherited the assets of The British Society for Geomorphology (Charity no. 1054260) on 1 January 2019,

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Cash flows from operating activities
Cash generated from operations
18
Investing activities
Purchase of investments
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2020
£
-
-		 £
44,940
-
-
44,940
79,087
124,027		 2019
£
(23,154)
1		 £
102,240
(23,153)
-
79,087
-
79,087

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

2 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.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Grants receivable 20,721 20,000
Membership fees 8,500 12,340
Transfer of assets - 150,314

The charity inherited the assets of the former unincorporated British Society for Geomorphology, a related party, in January 2019. The previous charity has now been removed from the Charities Commission register. The asset transferred included the cash balances, investments and funds.

4 Investments

Total Unrestricted
funds
2020 2019
£ £
Interest receivable - 1

5 Other income

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Royalties 53,193 54,780

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

6 Description of charitable activities

Research

The research charitable activities drive the research missions of the Society, The committee coordinate the programme of meetings, conference sponsorship, research grants and awards administered by the Society. The committee make recommendations on the award of Society grants to individuals for specific research activities to be undertaken.

Publications

The publications activities of the Society involve approving publications and other outputs, maintenance of the Society website and reporting on activities within the Society on the website and via social media. It is responsible for promoting the Society journal, Earth Surface Processes and Landforms , and for Society liaison with Wiley Publishers.

Education & Outreach

The education activities of the Society involves promoting and developing aspects of Society business that link it to the wider world, in particular through education and activities that encompass business, industry and society. It addresses issues relating to education, membership, marketing/publicity, chartered status and process (CGeog (Geomorph)), external relations, industry and community (wider audience) and professional matters.

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

7 Charitable activities

Research Publications Education &
Outreach
2020
2020
2020
£
£
£
Conference
and
workshops
costs, medals
and awards
1,718
-
-
Digital
communicati
ons
-
3,028
-
Outreach
activities
-
-
1,741
1,718
3,028
1,741
Grant funding
of activities
(see note 9)
20,496
-
-
Share of
support costs
(see note 8)
12,808
-
-
Share of
governance
costs (see
note 8)
-
-
-
35,022
3,028
1,741		 Total
2020
Research Publication
s
2019
2019
£
£
£
1,718
9,036
-
3,028
-
5,795
1,741
-
-
6,487
9,036
5,795
20,496
31,185
-
12,808
16,108
-
-
240
-
39,791
56,569
5,795		 Total
2019
£
9,036
5,795
-
14,831
31,185
16,108
240
62,364

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

8 Support costs

Support
costs
Governance
costs
£
£
Staff costs
7,139
-
Subscriptions and EGU
costs
1,135
-
Executive Committee
expenses
1,468
-
Office services and
expenses
198
-
Liability and Charity
Trustee insurance
1,171
-
Bank and PayPal
charges
197
-
Independent
examination
1,500
-
Late payment interest
-
-
Legal and professional
-
-
12,808
-
Analysed between
Charitable activities
12,808
-		 2020
Support
costs
Governance
costs
£
£
£
7,139
6,985
-
1,135
2,233
-
1,468
3,184
-
198
400
-
1,171
1,176
-
197
298
-
1,500
1,800
-
-
32
-
-
-
240
12,808
16,108
240
12,808
16,108
240		 2019
£
6,985
2,233
3,184
400
1,176
298
1,800
32
240
16,348
16,348

The support costs are allocated to the research charitable activities as without these ongoing research projects the Society would not incur such support costs.

9 Grants payable

Research grants, ESPL awards and ECR grants

Research grants and awards are made to specific individuals and institutions . During 20 20 these totalled 16 awards (2019: 23 awards) .

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year , but expenses reimbursed to all members of the Executive Committee amounted to £1,468 (2019: £3,184 ) in respect of travelling and committee meeting expenses.

Insurance costs

£1,171 (2019: £1,176 ) was paid to cover Employers Liability and Charity Trustee insurance .

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

11 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
1 1
Employment costs 2020 2019
£ £
Wages and salaries 7,139 6,985

No staff member earned more than £60,000 from the charity in this accounts year. A defined contribution pension scheme is made available to all eligible employees. The employer cost of this scheme is shown above. There were no outstanding liabilities at the year end.

The average monthly number of part-time employees was 1.

There were no employees whose annual remuneration was more than £60,000.

12 Net gains/(losses) on investments

Unrestricted Unrestricted
funds
funds
2020
2019
£
£
Revaluation of investments 1,202
6,036
Fixed asset investments
Listed
investments
£
Cost or valuation
At 1 January 2020 29,190
Valuation changes 1,202
At 31 December 2020 30,392
Carrying amount
At 31 December 2020 30,392
At 31 December 2019 29,190

13 Fixed asset investments

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

13 Fixed asset investments

(Continued)

Fixed asset investments revalued

The UK quoted investments are revalued to market value annually. The historical cost of the units held at 31 December 2019 would be £15,667.

14 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income
15
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Equity instruments measured at cost less impairment
Carrying amount of financial liabilities
Measured at amortised cost
16
Creditors: amounts falling due within one year
Accruals and deferred income		 2020
£
73,614
828
74,442
2020
£
73,614
30,392
3,929
2020
£
3,929		 2019
£
74,747
470
75,217
2019
£
74,747
29,190
2,387
2019
£
2,387

17 Related party transactions

The charity considers its key management personnel comprise the Trustees. The total employment benefits, including employers pension contributions of the key management were £Nil.

BRITISH SOCIETY FOR GEOMORPHOLOGY

STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

18
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Movements in working capital:
Decrease/(increase) in debtors
Increase in creditors
Cash generated from operations		 2020
£
43,825
-
(1,202)
775
1,542
44,940		 2019
£
181,107
(1)
(6,036)
(75,217)
2,387
102,240

19 Analysis of changes in net funds

The charity had no debt during the year.