||Contents|ofthe Financial Statements|ofthe Financial Statements|||| |---|---|---|---|---|---|---| ||for the Year Ended 28 Februa||2021|||| ||||||Page|| |Trustees'
Report||||1|to|7| |Report ofthe Independent
Auditors||||8|to|9| |Statement of Financial|Activities||||10|| |Balance Sheet||||||| |Cash Flow Statement|||||12|| |Notes to the Cash Flow Statement|||||13|| |Notes to the Financial|Statements|||14|to|23| |Detailed Statement ofFinancial Activities||||24|to|25| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||28.2.21|29.2.20| |---|---|---|---|---|---|---| ||||||Unrestricted|Total| ||||||funds|funds| |||||Notes||F| |INCOME AND ENDOWMENTS|||FROM|||| |Subscriptions,
grants,|donations||and legacies||149,236|139,375| |Charitable
activities||||||| |Society meetings
and|Strategic||Projects|||23,120| |Publications|||||894,396|914,394| |Special interest groups|||||438|9,631| |Investment
income|||||82,200|77,657| |Other income|||||8,683|1,759| |Total|||||1,134,953|1,165,936| |EXPENDITURE ON||||||| |Charitable
activities||||||| |Library|||||69,684|77,644| |House|||||97,576|84,724| |Society meetings
and|Strategic||Projects||188,058|87,520| |Grants to expeditions|and|donations|||30,765|26,337| |Publications|||||92,598|104,313| |Office and meeting costs
Case for Conservation|||||407,143
69,519|458,000
44,202| |Total|||||955,343|882,740| |Net income on operating||activities|||179,610|283,196| |Net gains on investments|||||744,693|920,513| |NET INCOME|||||924,303|1,203,709| |RECONCILIATION
OF FUNDS||||||| |Total funds brought|forward||||18,334,177|17,130,468| |TOTAL FUNDS CARRIED FORWARD|||||19,258,480|18,334,177| ## |||Balance|Sheet||| |---|---|---|---|---|---| |||28 Februa|2021||| |||||28.2.21|29.2.20| |||||Unrestricted|Total| |||||funds|funds| |||Notes|||F| |FIXEDASSETS|||||| |Tangible|assets|13||3,391,889|3,389,837| |Heritage|assets|14||2,245,500|2,245,500| |Investments||15||11,887,406|11,085,274| |||||17,524,795|16,720,611| |CURRENT ASSETS|||||| |Debtors||16||385,278|384,842| |Cash at|bank and in hand|||1,443,937|1,302,304| |||||1,829,215|1,687,146| |CREDITORS|||||| |Amounts|falling due within one year|17||(95,530)|(73,580)| |NET CURRENT ASSETS||||1,733,685|1,613,566| |TOTAL|ASSETS LESS CURRENT LIABILITIES|||19,258,480|18,334,177| |NET ASSETS||||19,258,480|18,334,177| |FUNDS||18|||| |Unrestricted
funds||||19,258,480|18,334,177| |TOTAL|FUNDS|||19,258,480|18,334,177| ## ||||||||||Cash Flow Statement|||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||for the|Year Ended 28 Februa|2021||| ||||||||||||28.2.21|29.2.20| |||||||||Notes|||F|| |Cash flows from|operating|||activities||||||||| |Cash generated
from||operations|||||||||146,721|295,170| |Net cash provided|by|operating|||activities||||||146,721|295,170| |Cash flows from|investing|||activities||||||||| |Purchase
oftangible||fixed assets|||||||||(5,507)|(4,841)| |Purchase offixed|asset investments||||||||||(57,438)|(559,274)| |Interest received|||||||||||57,857|62,910| |Net cash used in|investing||activities|||||||||~501,205)| |Change
in cash|and|cash||equivalents||in the||||||| |reporting
period|||||||||||141,633|(206,035)| |Cash and cash equivalents||||at|the beginning||of|||||| |the reporting
period|||||||||||1,302,304|1,508,339| |Cash and cash equivalents||||at|the end|ofthe||||||| |reporting
period|||||||||||1,443,937|1,302,304| ## ## ## ## |RECONCILIATION
|OF NE|T I|NCOME TO NET CASH FLOW|FROM OPERATING ACTIVITIES||| |---|---|---|---|---|---|---| ||||||28.2.21|29.2.20| ||||||E|F| |Net income for the|reporting||period (as per the Statement|of Financial Activities)|924,303|1,203,709| |Adjustments
for:
Depreciation
charges
Gain on investments|||||3,454
(744,693)|3,179
(920,513)| |Interest received|||||(57,857)|(62,910)| |(Increase)/decrease
Increase
in creditors|in debtors||||(436)
21,950|51,149
20,556| |Net cash provided|by operations||||146,721|295,170| |ANALYSIS OF CHANGES||IN|NET FUNDS|||| |||||At 1.3.20|Cash flow|At 28.2.21| |||||F|F|F| |Net cash||||||| |Cash at bank and in|hand|||1,302,304|141,633|1,443,937| |||||1,302,304|141,633|1,443,937| |Total||||1,302,304|141,633|1,443,937| ## ## ## ## ## ## ## ## ## ## ## ## ## |SUBSCRIP|TION|S, GRA|NTS, DONATIONS
AND LE|GACIES||| |---|---|---|---|---|---|---| ||||||28.2.21|29.2.20| |Donations|||||150|128| |Case for conservation|||||70,044|62,369| |Subscriptions|||||79,042|76,878| ||||||149,236|139,375| |Grants received,||included|in the above, are as follows:|||| ||||||28.2.21|29.2.20| ||||||f|f| |Other grants|||||70,044|62,369| |INVESTMENT INCOME||||||| ||||||28.2.21|29.2.20| ||||||F|| |Rents and contributions|||||24,343|14,747| |Investment|income||||57,857|62,910| ||||||82,200|77,657| |INCOME FROM||CHARITABLE ACTIVITIES||||| ||||||28.2.21|29.2.20| ||||Activity|||| |Society meetings||(including||||| |symposia)|||Society meetings|and Strategic Projects||23,120| |Antenna|||Publications||629|2,715| |Scientific journals|||Publications||870,885|884,076| |Symposium|volumes||Publications||64|179| |Hand books|||Publications||22,818|27,424| |Special interest groups|||Special interest|groups|438|9,631| ||||||894,834|947,145| ## ## ## ||||||||||Grant|||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||funding|of||| ||||||||||activities||Support|| |||||||||Direct|(see note||costs (see|| |||||||||Costs|6)||note 7)|Totals| |||||||||F|F||F|| |Library||||||||69,684||||69,684| |House|||||||||||97,576|97,576| |Society meetings||||and||Strategic Projects||188,058||||188,058| |Grants to expeditions||||||and donations|||30,765|||30,765| |Publications||||||||92,598||||92,598| |Office and|||meeting||costs||||||407,143|407,143| |Case for||Conservation||||||69,519||||69,519| |||||||||419,859|30,765||504,719|955,343| |GRANTS||PAYABLE||||||||||| ||||||||||||28.2.21|29.2.20| |||||||||||||f.| |Grants to expeditions||||||and donations|||||30,765|26,337| |SUPPORT|||COSTS|||||||||| ||||||||||Support|||| ||||||||||costs||House|Totals| ||||||||||F|||f| |House
Office and|||meeting||costs||||407,748||97,576
~605)|97,576
407,143| ||||||||||407,748||96,971|504,719| |Support|costs, included||||||in the above, are as follows:|||||| |Support||costs||||||||||| ||||||||||||28.2.21|29.2.20| ||||||||||||Office|| ||||||||||||and|| ||||||||||||meeting|Total| ||||||||||||costsf|activities| |Salaries||&|national||insurance||||||261,970|264,288| |Staff pension|||||||||||40,877|54,699| |Meetings||&miscellaneous|||||||||33,181|83,481| |Postage||8|telephone||||||||11,246|15,797| |Printing|and stationery||||||||||4,176|8,662| |Audit 8 accountancy|||||||||||7,000|6,800| |Computer|||8 website||costs||||||28,360|21,094| |Ex-gratia||payment|||||||||17,484|| |Depreciation
oftangible|||||||fixed assets||||3,454|3,179| ||||||||||||407,748|458,000| ## ## |House|||||||| |---|---|---|---|---|---|---|---| |||||||28.2.21|29.2.20| ||||||Office||| ||||||and||| ||||||meeting|Total|Total| |||||House|costs|activities|activities| ||||||E||F| |Fuel electricity|&gas|||8,643||8,643|11,333| |Insurance||||8,174||8,174|5,411| |Rates||||5,350||5,350|7,860| |Water||||550||550|412| |Repairs maintenance||8|redecoration|13,849||13,849|27,519| |Gardening||||14,051||14,051|12,455| |Professional fees
Miscellaneous||||43,518
3,441|~605)|43,518
2,836|15,151
4,583| |||||97,576|~605)|96,971|84,724| ## ## ## |Trustees' expenses|Trustees' expenses|Trustees' expenses||||| |---|---|---|---|---|---|---| |8 trustees were reimbursed|||expenses|totalling f4,217.06(2020 - F8,312.97) in respect of travel and subsistence||expenses.| |STAFF COSTS||||||| ||||||28.2.21|29.2.20| ||||||F|F| |Wages and salaries|||||361,313|339,492| |Other pension|costs||||41,909|55,376| ||||||403,222|394,868| |The average|monthly|number ofemployees|||during the year was as follows:|| ||||||28.2.21|29.2.20| |Administrative|8 support||||9|9| |Library|||||1|1| ||||||10|10| ## ## ## ## ## ## |COMPARATIVES
FO|R TH|E ST|ATEMENT OF FINANCIAL ACTIVITIES||| |---|---|---|---|---|---| ||||||Unrestricted| ||||||funds| ||||||F| |INCOME AND ENDOWMENTS|||FROM||| |Subscriptions,
grants,|donations||and legacies||139,375| |Charitable
activities|||||| |Society meetings
and|Strategic||Projects||23,120| |Publications|||||914,394| |Special interest groups|||||9,631| |Investment
income|||||77,657| |Other income|||||1,759| |Total|||||1,165,936| |EXPENDITURE ON|||||| |Charitable
activities|||||| |Library|||||77,644| |House|||||84,724| |Society meetings
and|Strategic||Projects||87,520| |Grants to expeditions|and donations||||26,337| |Publications|||||104,313| |Office and meeting costs|||||458,000| |Case for Conservation|||||44,202| |Total|||||882,740| |Net gains on investments|||||920,513| |NET INCOME|||||1,203,709| |RECONCILIATION
OF FUNDS|||||| |Total funds brought|forward||||17,130,468| |TOTAL FUNDS CARRIED||FORWARD|||18,334,177| |SOCIETY MEETINGS|AND STRATEGIC PROJECTS||||| |||||28.2.21|29.2.20| |||||F|F| |Society meetings
(including||symposia)||17,244|87,520| |Project governance
review||||139,645|| |Project - grand challenge||||31,169|| ## ## ## |TANGIBLE FIXEDASSETS||||| |---|---|---|---|---| ||Freehold|Office||| ||property|Equipment
F|Lift|Totals
f| |COST||||| |At 1 March 2020
Additions|3,376,860|110,569
5,507|122,302|3,609,731
5,507| |At 28 February 2021|3,376,860|116,076|122,302|3,615,238| |DEPRECIATION||||| |At 1 March 2020||97,593|122,301|219,894| |Charge for year||3,455||3,455| |At 28 February 2021||101,048|122,301|223,349| |NET BOOK VALUE||||| |At 28 February 2021|3,376,860|15,028||3,391,889| |At 29 February 2020|3,376,860|12,976||3,389,837| ## ## |HERITAGE ASS|ETS|||||||| |---|---|---|---|---|---|---|---|---| |||||||||Total| |||||||||F| |MARKET VALUE||||||||| |At 1 March 2020|and 28 February 2021|||||||2,245,500| |NET BOOK VALUE||||||||| |At 28 February 2021||||||||2,245,500| |At 29 February 2020||||||||2,245,500| |The library is one|ofthe world's most important||entomological|libraries,||and the||| |society's
principal|and most irreplaceable|resource||||||| |The library has been valued at the replacement|||value excluding||binding|costs calculated||| |as follows:-||||||||| |General
Library Stock
Serials|||||||440,500
320,000|| |Rare books|||||||1 485 000|| |Total|||||||2 245 500|| ## ## ## |FIXEDASSET INVESTMENTS|| |---|---| ||Listed| ||investments| |MARKET VALUE|| |At 1 March 2020|11,085,274| |Additions|57,438| |Revaluations|744,694| |At 28 February 2021|11,887,406| |NET BOOK VALUE|| |At 28 February 2021|11,887,406| |At 29 February 2020|11,085,274| ## ## ## |||||||Original
Cost|Additions
(Disposals)||Market
Value|Change
In Value| |---|---|---|---|---|---|---|---|---|---|---| |||||||f||2020||E| |Henderson
Managed
Portfolio
Scottish Widows
Close Brothers Asset Management
True Potential
Investments
LLP||||||170,052
16,780
1,066,611
5692310|24,722
32716|173,424
30,592
1,388,293
9492965||15,371
1,120
59,717
668485| |||||||6945753|57438|11085274|11 887406|744693| |DEBTORS:AMOUNTS||||FALLING DUE WITHIN ONE YEAR||||||| ||||||||||28.2.21|29.2.20| |||||||||||F| |Other debtors|||||||||34,803|2,173| |Prepayments||and accrued|||income||||350,475|382,669| ||||||||||385,278|384,842| |CREDITORS:||AMOUNTS|||FALLING DUE|WITHIN ONE YEAR||||| ||||||||||28.2.21|29.2.20| ||||||||||E|f| |Taxation and|social security||||||||7,824|13,061| |Other creditors|||||||||87,706|60,519| ||||||||||95,530|73,580| |MOVEMENT|IN FUNDS|||||||||| ||||||||||Net|| ||||||||||movement|At| |||||||||At 1.3.20|in funds|28.2.21| |||||||||F|F|| |Unrestricted|funds|||||||||| |General fund
Case for Conservation||||||||18,117,787
21,247|918,485
524|19,036,272
21,771| |Wigglesworth
LJ Goodman||fund
fund||||||62,744
132,399|2,667
2,627|65,411
135,026| |||||||||18,334,177|924,303|19,258,480| |TOTAL FUNDS||||||||18,334,177|924,303|19,258,480| ## ## |Net movement|in funds, include|d
in the above are|as follows:|||| |---|---|---|---|---|---|---| ||||Incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| ||||F|F|F|F| |Unrestricted|funds|||||| |General
fund|||1,056,616|(882,824)|744,693|918,485| |Case for Conservation
Wigglesworth
fund
LJ Goodman
fund|||70,043
2,667
5,627|(69,519)
~3,000)||524
2,667
2,627| ||||1,134,953|~955.343)|744,693|924,303| |TOTAL FUNDS|||1,134,953|~955,343)|744,693|924,303| |Comparatives|for movement|in funds||||| ||||||Net|| ||||||movement|At| |||||At 1.3.19|in funds|29.2.20| |||||f|F|F| |Unrestricted|funds|||||| |General
fund||||16,937,609|1,180,177|18,117,786| |Case for Conservation||||3,080|18,167|21,247| |Wigglesworth
LJ Goodman|fund
fund|||60,187
129,592|2,557
2,808|62,744
132,400| |||||17,130,468|1,203,709|18,334,177| |TOTAL FUNDS||||17,130,468|1,203,709|18,334,177| |Comparative|net movement
in funds,
inclu|ded
in the above are as follows:|||| |---|---|---|---|---|---| |||incoming|Resources|Gains and|Movement| |||resources|expended|losses|in funds| ||||F|F|F| |Unrestricted|funds||||| |General
fund||1,095,502|(835,838)|920,513|1,180,177| |Case for Conservation||62,369|(44,202)||18,167| |Wigglesworth
LJ Goodman|fund
fund|2,557
5,508|~2,700)||2,557
2,808| |||1,165,936|~882,740)|920,513|1,203,709| |TOTAL FUNDS||1,165,936|~882,740)|920,513|1,203,709| ## ## ||||Net|| |---|---|---|---|---| ||||movement|At| |||At 1.3.19|in funds|28.2.21| |||f||| |Unrestricted|funds|||| |General
fund
Case for Conservation||16,937,609
3,080|2,098,662
18,691|19,036,271
21,771| |Wigglesworth
LJ Goodman|fund
fund|60,187
129,592|5,224
5,435|65,411
135,027| |||17,130,468|2,128,012|19,258,480| |TOTAL FUNDS||17,130,468|2,128,012|19,258,480| |||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---| |||resources|expended
f|losses
F|in funds
F| |Unrestricted|funds||||| |General
fund
Case for Conservation||2,152,118
132,412|(1,718,662)
(113,721)|1,665,206|2,098,662
18,691| |Wigglesworth
LJ Goodman|fund
fund|5,224
11,135|~5,700)||5,224
5,435| |||2,300,889|~1,838,083)|1,665,206|2,128,012| |TOTAL FUNDS||2,300,889|~1,838,083)|1,665,206|2,128,012| ## ## ## |The designated
funds ofthe|Society are:-||||| |---|---|---|---|---|---| |||||2021|2020| |Case for Conservation||||E|E| |Balance
1 March 2020||||21,247|3,080| |Income for the year||||70,044|62,369| |Salaries and national
insurance
Staff pension
Expenditure
for the year||||(49,582)
(2,362)
~17,578)|(35,346)
(677)| |Balance 28 February 2021||||21,771|21,247| |Outreach
fund (grants and|bursaries to enable entomologists||to undertake||| |worthwhileentomological|activity)||||| |Balance
1 March 2020|||||| |Income for the year||||1,200|| |Grants||||~1200|| |Balance 28 February 2021|||||| |Wigglesworth
fund (to support the Wigglesworth||Lecture and|Medal Award)||| |Balance
1 March 2020||||62,744|60,187| ## ## |||Notes to the Financial Statements|Notes to the Financial Statements|-continued||| |---|---|---|---|---|---|---| |||for the Year Ended 28 Februa||2021||| |DESIGNATED|FUNDS - continued|||||| |Income for the|year||||2,667|2,557| |Prizes||||||| |Balance 28 February 2021|||||65411|62 744| |LJ Goodman|Fund (to support the|LJGoodman|Insect Physiology|and Behaviour||| |Research Award)||||||| |Balance 1 March 2020|||||132,400|129,592| |Income for the|year||||5,627|5,508| |Awards|||||~3000|~2700| |Balance 28 February 2021|||||135027|132400|