## THE BIBLIOGRAPHICAL SOCIETY
## Notice of Annual Meeting
T he Annual Meeting of the Society will be held on Tuesday, 19 October 2021 at 6.00 p.m. at Society of Antiquaries, Burlington House, Piccadilly, London, w1j 0be.
## Agenda
1. Presentation of the Annual Report for 2020–21
2. Presentation of the Accounts for 2020
3. Election of Officers for 2021–22, and Council Members for 2021–2025
4. Any other business
Notice of motions should be sent to the Hon. Secretary, Karen Limper-Herz, c/o The British Library, 96 Euston Road, London nw1 2db, or secretary@bibsoc.org.uk.
## Annual Report 2020–21
## _Officers of the Society_
President: J. Raven; Past Presidents: H. Woudhuysen, K. Jensen, M. L. Ford; Vice-Presidents: R. A. Linenthal, N. Bell, K. Limper-Herz, E. Potten; Hon. Secretary: K. Limper-Herz; Hon. Treasurer: M. Payne; Hon. Librarian: R. Myers; Hon. Editors of _The Library_ : W. Poole and J. Willoughby; Hon. Editor of Monographs: D. R. S. Pearson.
- _Council_ : S. Beattie, K. Birkwood, M. Byford, Y. Lewis, G. Mandelbrote,
- J. Simpson, L. Sims, A. Timmermann and J. Walworth.
- _Ex officio_ : E. Dourish, D. J. Shaw.
## _Membership_
The membership of the Society now stands at 885.
36 new members were elected during 2020.
## _Meetings_
The Annual General Meeting was held online on Tuesday, 20 October 2020. The business of the meeting was preceded by the Presidential Address, delivered by Margaret Lane Ford and entitled _Bookselling and Bibliography_ .
The following ordinary meetings were held online:
- _17 November 2020_
ADRIAN EDWARDS: Insights into the King’s Library of George III
- _15 December 2020_
DAVID SHAW: Paper for octavos: innovation in early sixteenth-century book production
- _19 January 2021_
ALISON WALKER and ALICE WICKENDEN: The Sloane Printed Books Project
_16 February 2021_
STEPHEN CLARKE: Horace Walpole and W. S. Lewis: a collector revealed _16 March 2021_
RACHEL JACOBS: Waddesdon Manor: a Rothschild Collection
- _20 April 2021_
GRAHAM POLLARD MEMORIAL LECTURE
EDWARD WILSON-LEE: Hernando Colón and the Universal Library Machine
- _18 May 2021_
HOMEE AND PHIROZE RANDERIA LECTURE
MIRJAM FOOT: New movements in French twentieth-century binding design: the importance of patronage
## _Winter visit_
A virtual winter visit to the National Library of Mexico and the National Library of Anthropology and History in Mexico City, and the Francisco de Burgoa Library in Oaxaca was held on 24 February 2021.
## _Summer visit_
A virtual summer visit to the State Library of Victoria, Baillieu Library at the University of Melbourne, and Special Collections at Monash University was held on 27 July 2021.
## _Deaths_
Council notes with regret the deaths of: Mr A. R. Heath; Mr E. H. Milligan; Mr M. R. Perkin; Ms Jean Tsushima.
## SELECT PUBLICATIONS
- Charles Benson, _The Dublin Book Trade 1801–1850_ . London: The Bibliographical Society, 2021.
- David G. Selwyn, _Edmund Geste and his Books: Reconstructing the library of a Cambridge don and Elizabethan bishop_ , 2017.
- C. Cook, _Incunabula in the Westminster Abbey and Westminster School Libraries_ , with bookbinding descriptions by M. M. Foot, 2013
- N. Tattersfield, _The Complete Illustrative Work of Thomas Bewick_ , 3 vols, 2011.
- H. D. L. Vervliet, _French Renaissance Printing Types: a Conspectus_ , 2010.
- _Printing in England in the Fifteenth Century_ , a reprint with supplementary material by L. Hellinga of E. G. Duff, _Fifteenth-Century English Books_ , 2009.
- R. Gameson, _The Earliest Books of Canterbury Cathedral_ , 2008.
- A. Shell and A. Emblow, _Index to the Court Books of the Stationers’ Company, 1679–1717_ , 2007.
- M. M. Foot (ed.), _Eloquent Witnesses. Bookbindings and their History_ , 2004.
- M. Perkin, _Directory of the Parochial Libraries of the Church of England and the Church in Wales_ (second edition), 2004.
- K. Scott, _Dated and Datable English Manuscript Borders, c. 1395–1499_ , 2002.
- M. Pollard, _Dictionary of Members of the Dublin Booktrade, 1550–1800,_ 2002.
- D. J. Shaw (Editor-in-Chief), _The Cathedral Libraries Catalogue_ , vol. 2, 1998.
- D. Hunter, _Opera and Song Books Published in England, 1703–1726_ , 1997.
- D. A. Stoker, _The Correspondence of the Reverend Francis Blomefield (1705–52)_ , 1992. Published jointly with the Norfolk Record Society.
- P. Davison (ed.), _The Book Encompassed: A Centenary Volume_ , 1992.
- K. I. D. Maslen and J. Lancaster (eds), _The Bowyer Ledgers_ , 1991.
- _Short-Title Catalogue of English Books, 1474–1640: revised edition_ , vol. 1. Issued 1986.
- _Short-Title Catalogue of English Books, 1475–1640: revised edition_ , vol. 2. Issued 1976.
- _Short-Title Catalogue of English Books, 1475–1640_ , vol. 3: _A Printers’ and Publishers’ Index, other indexes and appendices, cumulative addenda and corrigenda_ , by K. F. Pantzer, with a _Chronological Index_ by P. R. Rider. Issued 1991.
- R. J. Roberts and A. G. Watson (eds), _John Dee’s Library Catalogue_ , 1990. (Now out of print).
- M. S. G. McLeod, _The Cathedral Libraries Catalogue_ , vol. 1, 1985. Published jointly with the British Library.
## THE BIBLIOGRAPHICAL SOCIETY REPORT OF THE TRUSTEES to the Members of the Bibliographical Society for the year ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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
## OBJECTIVES AND AIMS
The objects of the Society are to promote and encourage bibliographical studies, and in particular:
- a) to print and publish works concerned with bibliography;
- b) to maintain a bibliographical library;
- c) to hold meetings at which papers are read and discussed;
- d) to support bibliographical research by awarding grants and bursaries.
## Public Benefit
The Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. The public benefits of the Charity's activities are outlined under 'Objectives and Activities' and 'Achievements and Performance' within this report.
## GRANTMAKING
The Society invites applications for awards from scholars engaged in bibliographical research (on, for example, book history, textual transmission, publishing, printing, bookbinding, bookownership and book-collecting). The Society hopes to make awards both for immediate research needs, such as for microfilms or travelling expenses, and for longer-term support, for example to assist with prolonged visits to libraries and archives.
## ACHIEVEMENT AND PERFORMANCE
## CHARITABLE ACTIVITIES
Review of the year 2020
The Society has continued to meet its aims and charitable objectives throughout the year 2019. More specifically, the Society has:
- offered lectures on bibliographical subjects, open to members and their guests, preceded by tea and followed by drinks to encourage networking in January and February 2020; the remainder of the 2019/2020 season had to be cancelled due to the pandemic and associated restrictions on gatherings and travel;
- offered lectures on bibliographical subjects, open to members and non-members online via Zoom, followed by online socialising to encourage networking between October and December 2020;
- arranged a virtual Summer Visit for members and non-members to Innerpeffray Library in Crieff, Thomas Plume's Library in Maldon and Lincoln College Library in Oxford;
- published The Library, the Society's quarterly journal, according to plan and in both print and electronic media;
- made progress on future publications, in both print and e-format;
- awarded a number of research grants;
- continued to support the London Book Trades database and the British Book Trades Index database on a common portal with the Bodleian Library;
- maintained its archive on deposit at the Bodleian Library, Oxford, where it is available for consultation, with the listing of its contents available on the Society's and the Bodleian's websites;
- maintained its library at the Albert Sloman Library at the University of Essex;
- monitored libraries ‘at risk’ and made representations as appropriate;
- seen its investments fluctuate in line with general stock market trends;
- renewed its drive to attract gifts and legacies to support the Society's work;
The Society maintains a healthy balance in its general purposes fund in order to withstand unexpected downturns and to sponsor specific future projects which will be presented to Council for consideration in the coming years.
## FINANCIAL REVIEW
## Subscription Income
Subscription income in the accounts may be distorted by misallocation of funds to the appropriate financial years particularly in relation to the remittance of subscriptions from overseas members.
## Investment Policy and Objectives
The Charity’s investment objective is to protect, in so far as is reasonable and with the avoidance of undue risk, the real value of the Charity’s capital and income after allowance for inflation.
## Reserves Policy
Over the medium term it is the Trustees' intention to spend annual income while maintaining the real value of the General Fund.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## GOVERNING DOCUMENT
The Society is regulated by the Charity Commissioners for England and Wales under a revised Trust Deed dated 18 April 1929.
## RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES
New Trustees are usually known to and recommended by existing Trustees. Their selection will be based on their experience, qualifications and skills.
## ORGANISATIONAL STRUCTURE
The Society operates primarily through the Council, the members of which are elected at each Annual General Meeting of the Society’s members. The principal officers are the President, Secretary, Treasurer, Librarian and the editors of _The Library_ and of Monographs.
At present the Society has no salaried employees.
Council has appointed a number of subcommittees to assist in various areas:
Finance & General Purposes Fellowships & Bursaries Publications Gold Medal Outreach
## REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number 229524 Principal Address c/o R Linenthal Institute of English Studies Senate House Malet Street London wc1e 7hu
Trustees
M. Bell (resigned 2.6.20), N. Bell, M. Ford, K. Jensen, R. Linenthal, R. Myers, D. Pearson, E. Potten, J. Raven (President), H. Woudhuysen, K. Limper-Herz (Secretary), M. Payne (Treasurer), M. Byford, A. Davis, J. Pooley, J. Walworth, J. Willoughby, W. Poole, K. Birkwood, G. Mandelbrote, L. Sims. .
Independent Examiner
Thornton Springer LLP Chartered Accountants 67 Westow Street Upper Norwood London SE19 3RW
Approved by order of the board of trustees on 8 June 2021 and signed on its behalf by: K. Limper-Herz (Secretary) — Trustee
## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BIBLIOGRAPHICAL SOCIETY
I report to the charity trustees on my examination of the accounts of the The Bibliographical Society (the Trust) for the year ended 31 December 2020.
## Responsibilities and Basis of Report
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## Independent Examiner's Statement
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 Trust 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 con - tent 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.
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.
P. L. Wallyn FCA THORNTON SPRINGER LLP _Chartered Accountants_ 67 Westow Street Upper Norwood London se19 3rw
## THE BIBLIOGRAPHICAL SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
||||||_31.12.20_|31.12.19|
|---|---|---|---|---|---|---|
||_Notes_|_Unrestricted_|_Restricted_|_Endowment_|_Total funds_|Total funds|
|||_fund_|_funds_|_fund_|||
|
_INCOMING AND_|||||||
|_ENDOWMENTS FROM:_|||||||
|_Charitable activities_|||||||
|Other||36|—|—|36|1,846|
|_The Library_||107,028|—|—|107,028|103,432|
|Other trading activities|2|20,881|—|—|20,881|25,630|
|Investment income|3|19,625|119|12,580|32,324|41,218|
|Other income|4|9,036|—|—|9,036|—|
|||———–|———–|———–|———–|———–|
|_Total_||156,606|119|12,580|169,305|172,126|
|_EXPENDITURE ON_:|||||||
|_Charitable Activities:_|||||||
|Other||22,691|—|—|22,691|27,457|
|Grants and awards||11,029|—|—|11,029|16,183|
|Publishing||1,710|—|—|1,710|10,450|
|_The Library_||87,051|—|—|87,051|93,618|
|||———–|———–|———–|———–|———–|
|_Total_||122,481|—|—|122,481|147,708|
|Net gains/(losses) on investments||(84,041)|(510)|(53,893)|(138,444)|150,863|
|||———–|———–|———–|———–|———–|
|_NET INCOME/(EXPENDITURE)_||(49,916)|(391)|(41,313)|(91,620)|175,281|
|_Transfers between funds_|14|—|16,000|(16,000)|—|—|
|||———–|———–|———–|———–|———–|
|_Net movement in funds_||(49,916)|15,609|(57,313)|(91,620)|175,281)|
|_RECONCILIATION OF FUNDS_|||||||
|_Total funds brought forward_||680,851|194,280|557,808|1,432,939|1,257,658|
|||———–|———–|———–|———–|———–|
|_TOTAL FUNDS CARRIED_|||||||
|_FORWARD_||£630,935|£209,889|£500,495|£1,341,319|£1,432,939|
|||———–
———–|———–
———–|———–
———–|———–
———–|———–
———–|
## THE BIBLIOGRAPHICAL SOCIETY BALANCE SHEET AT31 DECEMBER 2020
||||||_31.12.20_|31.12.19|
|---|---|---|---|---|---|---|
||_Notes_|_Unrestricted_|_Restricted_|_Endowment_|_Total funds_|Total funds|
|||_fund_|_funds_|_fund_|||
|_FIXED ASSETS:_|||||||
|Heritage assets|7|20,000|—|—|20,000|20,000|
|Investments|8|174,148|209,889|500,495|884,532|1,244,608|
|||———–|———–|———–|———–|———–|
|||194,148|209,889|500,495|904,532|1,264,608|
|_CURRENT ASSETS_:|||||||
|Stocks|9|4,000|—|—|4,000|4,000|
|Debtors|10|110,553|—|—|110,553|113,349|
|Cash at bank|11|366,722|—|—|366,722|106,192|
|||———–|———–|———–|———–|———–|
|||481,275|—|—|481,275|223,541|
|_CREDITORS_|||||||
|Amounts falling due within|||||||
|one year|12|(39,433)|—|—|(39,433)|(50,155)|
|||———–|———–|———–|———–|———–|
|NET CURRENT ASSETS||441,842|—|—|441,842|173,386|
|||———–|———–|———–|———–|———–|
|_TOTAL ASSETS LESS_|||||||
|_CURRENT LIABILITIES_||635,990|209,889|500,495|1,346,374|1,437,994|
|CREDITORS|||||||
|Amount falling due after more|||||||
|than one year|13|(5,055)|—|—|(5,055)|(5,055)|
|||———–|———–|———–|———–|———–|
|_NET ASSETS_||£630,935|£209,889|£500,495|£1,341,319|£1,432,939|
|||———–
———–|———–
———–|———–
———–|———–
———–|———–
———–|
|FUNDS|14||||||
|Unrestricted funds|||||630,935|680,851|
|Restricted funds|||||209,889|194,280|
|Endowment funds|||||500,495|557,808|
||||||———–|———–|
|TOTAL FUNDS|||||£1,341,319|£1,432,939|
||||||———–
———–|———–
———–|
The financial statements were approved by order of the board of trustees on 8 June 2021 and signed on its behalf by:
M. Payne, _Honorary Treasurer_ — Trustee
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
## 1 _. ACCOUNTING POLICIES_
## Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the excep - tion of investments which are included at market value, as modified by the revaluation of certain assets.
## Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants are made mainly to individuals for bibliographical research. The availability of awards is advertised and applications are considered by the Fellowships & Bursaries Subcommittee.
Provision is made in the accounts for grants committed but unpaid at the end of the year where a constructive obligation has been created.
## Allocation and apportionment of costs
Since the vast majority of support costs relate to the charitable activities, no apportionment is made to other headings in the financial statements.
## Heritage assets
The Society’s library is identified as a heritage asset. It is not regarded primarily as an invest - ment; it is included in the Balance Sheet at a value estimated by the trustees. The library is stored at the University of Essex. No record exists of the historical cost of the library.
## Stocks
In view of the small quantity of stock of completed publications and publications in the course of preparation, the value, based at the lower of estimated cost and net realisable value, has been estimated by the trustees.
## Taxation
The charity is exempt from tax on its charitable activities.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## Life membership
Life membership subscriptions are credited to subscriptions over a period of 20 years. The deferred income in respect of life members is shown on the Balance Sheet.
## 2 _. OTHER TRADING ACTIVITIES_
|||||_31.12.20_|31.12.19|
|---|---|---|---|---|---|
||_Unrestricted _|_Restricted_|_Endowment_|_Total_|Total|
||_funds_|_funds_|_funds_|_funds_|funds|
|Subscriptions|_£_20,881|—|—|£20,881|£25,630|
||———–
———–|———–
———–|———–
———–|———–
———–|———–
———–|
Subscriptions for 2019 included £3,004 which relate to 2020. The revised figures should be £23,885 for 2020 and £22,626 for 2019.
Advertising revenue has been double counted in an earlier year so to correct the position there is no income showing in the current year.
## 3 _. INVESTMENT INCOME_
|3_. INVESTMENT INCOME_||||||
|---|---|---|---|---|---|
|||||_31.12.20_|31.12.19|
|_Unrestricted _||_Restricted_|_Endowment_|_Total_|Total|
||_funds_|_funds_|_funds_|_funds_|funds|
|Deposit account interest|9|—|—|9|19|
|Current asset investment income|19,616|119|12,580|32,315|41,199|
||———–|———–|———–|———–|———–|
||_£_19,625|£119|£12,580|32,324|£41,218|
||———–
———–|———–
———–|———–
———–|———–
———–|———–
———–|
|4_. OTHER INCOME_||||||
|||||_31.12.20_|31.12.19|
|_Unrestricted _||_Restricted_|_Endowment_|_Total_|Total|
||_funds_|_funds_|_funds_|_funds_|funds|
|Exceptional items|9,036|—|—|9,036|—|
||———–
———–|———–
———–|———–
———–|———–
———–|———–
———–|
A provision for a liability in relation to the joint publication of the Bowyer Ledgers is considered no longer required and has been treated as other income.
## 5 _. TRUSTEES' REMUNERATION AND BENEFITS_
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## _Trustees' expenses_
Included in expenses of meetings are payments totalling £61 (2019: £860) made to 1 (2019: 5) Council Members in reimbursement of travelling expenses.
## 6 _. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES_
||Unrestricted|Restricted|Endowment|Total funds|
|---|---|---|---|---|
||fund|funds|fund||
|_INCOME AND_|||||
|_ENDOWMENTS FROM:_|||||
|_Charitable activities_|||||
|Other|1,846|—|—|1,846|
|_The Library_|103,432|—|—|103,432|
|Other trading activities|25,630|—|—|25,630|
|Investment income|24,278|197|16,743|41,218|
||———–|———–|———–|———–|
|_Total_|155,186|197|16,743|172,126|
|_EXPENDITURE ON_:|||||
|_Charitable Activities:_|||||
|Other|25,820|1,637|—|27,457|
|Grants and awards|805|—|15,378|16,183|
|Publishing|10,450|—|—|10,450|
|_The Library_|93,618|—|—|93,618|
||———–|———–|———–|———–|
|_Total_|130,693|1,637|15,378|147,708|
|Net gains on investments|88.830|720|61,313|150,863|
||———–|———–|———–|———–|
|_NET INCOME/(EXPENDITURE)_|113,323|(720)|62,678|175,281|
|Transfer between funds|—|16,000|(16,000)|—|
||———–|———–|———–|———–|
|Net movement in funds|113,323|15,280|46,678|175,281|
|_RECONCILIATION OF FUNDS_|||||
|_Total funds brought forward_|567,528|179,000|511,130|1,257,658|
||———–|———–|———–|———–|
|_TOTAL FUNDS CARRIED_|||||
|_FORWARD_|£680,851|£194,280|£557,808|£1,432,939|
||———–
———–|———–
———–|———–
———–|———–
———–|
|7_. HERITAGE ASSETS_|||||
|||||Total|
|_Market Value_|||||
|At 1 January 2020 and 31 December 2020||||£20,000|
|||||———–|
|_Net Book Value_|||||
|At 31 December 2020||||£20,000|
|
|
|
|
|———–
———–|
|At 31 December 2019||||£20,000|
|
|
|
|
|———–
———–|
To comply with the Charities SORP requirements, the Society’s library is recognised as a heritage asset on the Balance Sheet.
## 8 _. FIXED ASSET INVESTMENTS_
|8_. FIXED ASSET INVESTMENTS_|||||
|---|---|---|---|---|
||||_Listed investments_||
|_Market Value_|||||
|At 1 January 2020||||1,244,608|
|Disposals||||(242,838)|
|Revaluations||||_(_117,238)|
|||||———–|
|At 31 December 2020||||884,532|
|||||———–|
|_Net Book Value_|||||
|At 31 December 2020||||_£_884,532|
|
|
|
|
|———–
———–|
|At 31 December 2019||||_£_1,244,608|
|
|
|
|
|———–
———–|
|||_2020_||2019|
||_Cost_|_Market_|Cost|Market|
|_Common Investment Funds_||_value_||value|
|HSBC:|||||
|Income Fund|—|–|93,595|112,172|
|Growth Fund|—|—|77,770|130,666|
|Schroders:|||||
|Income Trust|147,394|163,233|147,394|154,009|
|Equity Income Trust Income units|449,782|464,188|449,782|556,817|
|Equity Income Trust Accumulation units|208,528|249,034|208,528|283,368|
||———–|———–|———–|———–|
||805,704|1,237.032|977,069|1,237,032|
|_Charities Ofcial Investment Fund_|||||
|General Purposes Fund|305|4,557|305|4,723|
|Graham Pollard Memorial Fund|1,000|3,521|1,000|3,302|
||———–|———–|———–|———–|
||£807,009
———–|£884,532
———–|£978,374
———–|£1,244,607
———–|
There were no investment assets outside the UK.
|_Movement in year_:|_2020_|2019|
|---|---|---|
|Market value at 1 January|1,244,607|1,093,744|
|Purchase/(redemption)|(242,838)|—|
|Unrealised gain/(loss)|(117,237)|150,863|
||———–|———–|
|Market value at 31 December|£884,532
———–|£1,244,607
———–|
Investments are stated at market value.
Unrealised gains or losses on revaluing investments are taken to the Statement of Financial Activities.
Realised gains or losses on disposal of investments are also shown in the Statement of Financial Activities.
At the end of year funds were in the process of being consolidated into a single Managed Cazenove Fund. As a result a significant part of the funds had been moved to the bank account while that was being set up.
9 _. STOCKS_
Stocks
_31.12.20_ 31.12.19 £4,000 £4,000 ———– ———–
10 _. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR_
||_31.12.20_|31.12.19|
|---|---|---|
|Sale of publications|107,012|103,179|
|Advertising revenue|1,504|3,016|
|Other debtors|720|609|
|VAT recoverable|1,317|6,545|
||———–|———–|
||£110,553|£113,349|
||———–
———–|———–
———–|
|11_. CASH AT BANK_|||
||_31.12.20_|31.12.19|
||_Total funds_|Total funds|
|Bank deposit account|9,746|9,737|
|Bank current account|345,109|88,139|
|Key Bank account — American Friends|2,626|2,626|
|First Interstate Bank|2,708|5,325|
|Paypal|6,533|365|
||———–|———–|
|Total|£366,722|£106,192|
||———–
———–|———–
———–|
|12_. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR_|||
||_31.12.20_|31.12.19|
|Bibliographical Society of America|—|9,036|
|Advance subscriptions|1,649|5,188|
|Accruals and deferred income|37,784|35,931|
||———–|———–|
||£39,433|£50,155|
||———–
———–|———–
———–|
|13_. CREDITORS: AMOUNTS FALLING DUE AFTER MORE_|13_. CREDITORS: AMOUNTS FALLING DUE AFTER MORE_|13_. CREDITORS: AMOUNTS FALLING DUE AFTER MORE_|_THAN ONE YEAR_|_THAN ONE YEAR_||
|---|---|---|---|---|---|
||||_31.12.20_||31.12.19|
|Deferred income — life members|||£5,055||£5,055|
||||———–
———–||———–
———–|
|14_. MOVEMENT IN FUNDS_||||||
|||_Net_|
_Transfers_|||
|||_movement_|_between_|||
||_At 1.1.20_|_in funds_|_funds_|_At_|_31.12.20_|
|_Unrestricted funds_||||||
|General fund|680,851|(49,916)|—||630,935|
|_Restricted funds_||||||
|Randeria Fund|4,981|(369)|—||4,612|
|Graham Pollard Memorial Fund|299|(22)|—||277|
|Future Publications|189,000|—|16,000||205,000|
||———–|———–|———–||———–|
||194,280|(391)|16,000||209,889|
|_Endowment funds_||||||
|Permanent Endowment|557,808|(41,313)|(16,000)||500,495|
||———–|———–|———–||———–|
|TOTAL FUNDS|£1,432,939|(£91,620)|—|£1,341, 319||
||———–
———–|———–
———–|———–
———–||———–
———–|
Net movement in funds, included in the above are as follows:
||_Incoming_|_Resources_|_Gains and_|_Movement_|
|---|---|---|---|---|
||_resources_|_expended_|_losses_|_in funds_|
|_Unrestricted funds_|||||
|General fund|156,606|(122,481)|(84,041)|(49,916)|
|_Restricted funds_|||||
|Randeria Fund|112|—|(481)|(369)|
|Graham Pollard Memorial Fund|7|—|(29)|(22)|
||———–|———–|———–|———–|
||119|—|(510)|(391)|
|_Endowment funds_|||||
|Permanent Endowment|12,580|—|(53,893)|(41,313)|
||———–|———–|———–|———–|
|TOTAL FUNDS|£169,305|(£122,481)|(138,444)|(91,620)|
||———–
———–|———–
———–|———–
———–|———–
———–|
|_Comparatives for movement in funds:_|||||
|||_Net_|_Transfer_||
|||_movement_|_between_||
||_At 1.1.19_|_in funds_|_funds_|_At 31.12.19_|
|_Unrestricted funds_|||||
|General fund|567,528|113,323|—|680,851|
|_Restricted funds_|||||
|Randeria Fund|5,000|(19)|—|4,981|
|Graham Pollard Memorial Fund|1,000|(701)|—|299|
|Future Publications|173,000|—|16,000|189,000|
||———–|———–|———–|———–|
||179,000|(720)|16,000|194,280|
|_Endowment funds_|||||
|Permanent Endowment|511,130|62,678|(16,000)|557,808|
||———–|———–|———–||
|TOTAL FUNDS|£1,257,658|(£175,281)|—|£1,432,939,|
||———–
———–|———–
———–|———–
———–|———–
———–|
|Comparative net movement in funds, included in the||above are as follows:|||
||_Incoming_|_Resources_|_Gains and_|_Movement_|
||_resources_|_expended_|_losses_|_in funds_|
|_Unrestricted funds_|||||
|General fund|155,186|(130,693)|88,830|113,323|
|_Restricted funds_|||||
|Randeria Fund|164|(783)|600|(19)|
|Graham Pollard Memorial Fund|33|(854)|120|(701)|
||———–|———–|———–|———–|
||197|(1,637)|720|(720)|
|_Endowment funds_|||||
|Permanent Endowment|16,743|(15,378)|61,313|62,678|
||———–|———–|———–|———–|
|TOTAL FUNDS|£172,126|(£147,708)|£150,863|£175,281|
||———–
———–|———–
———–|———–
———–|———–
———–|
_A current year 12 months and prior year 12 months combined position is as follows:_
|||_Net_|_Transfers_||
|---|---|---|---|---|
|||_movement_|_between_||
||_At 1.1.19_|_in funds_|_funds_|_At 31.12.20_|
|_Unrestricted funds_|||||
|General fund|567,528|63,407|—|630,935|
|_Restricted funds_|||||
|Randeria Fund|5,000|(388)|—|4,612|
|Graham Pollard Memorial Fund|1,000|(723)|—|277|
|Future Publications|173,000|—|32,000|205,000|
||———–|———–|———–|———–|
||179,000|(1,111)|32,000|209,889|
|_Endowment funds_|||||
|Permanent Endowment|511,130|21,365|(32,000)|500,495|
||———–|———–|———–|———–|
|TOTAL FUNDS|£1,257,658|£83,661|—|£1,341,319|
||———–
———–|———–
———–|———–
———–|———–
———–|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|in the above are as follows:|||||
|---|---|---|---|---|
||_Incoming_|_Resources_|_Gains and_|_Movement_|
||_resources_|_expended_|_losses_|_in funds_|
|_Unrestricted funds_|||||
|General fund|311,792|(253,174)|4,789|63,407|
|_Restricted funds_|||||
|Randeria Fund|276|(783)|119|(388)|
|Graham Pollard Memorial Fund|40|(854)|91|(723)|
||———–|———–|———–|———–|
||316|(1,637)|210|(1,111)|
|_Endowment funds_|||||
|Permanent Endowment|29,323|(15,378)|7,420|21,365|
||———–|———–|———–|———–|
|TOTAL FUNDS|£341,431|(£270,189)|£12,419|£83,661|
||———–
———–|———–
———–|———–
———–|———–
———–|
The objects and purposes of the various funds are as follows:
## _Permanent Endowment Fund_
To support bibliographical research and publications.
_Designated Funds which have been set aside for specific purposes: Randeria Fund_
To fund an annual lecture.
## _Graham Pollard Memorial Fund_
To fund an annual lecture in memory of Graham Pollard.
_Future Publications Fund_
To fund commitments to future publications:
|To fund an annual lecture.
_Graham Pollard Memorial Fund_
To fund an annual lecture in memory of Graham Pollard.
_Future Publications Fund_
To fund commitments to future publications:|||
|---|---|---|
||_2020_|2019|
|Hellinga, Marks in Books|13,000|13,000|
|Goulden, Book Trade in Kent|16,000|16,000|
|Coppens, 15th- and 16th-Century Printers’ and Booksellers’|||
|Catalogues|16,000|16,000|
|Benson, Dublin Book Trade|16,000|16,000|
|Gadd, Stationers’ Company Liber A|16,000|16.000|
|Afterlife of Aldus|16,000|16,000|
|Roberts, Herbert of Cherbury|16,000|16,000|
|Pearson, English Book Owners|16,000|16,000|
|Micha Lazarus, Alexander Nowell|16,000|16,000|
|Unallocated|64,000|48,000|
||———–|———–|
||£205,000|£189,000|
||———–
———–|———–
———–|
## _Transfers between funds_
Each year a transfer is made from the Endowment Fund towards future publication costs
## 15 _. RELATED PARTY DISCLOSURES_
There were no related party transactions for the year ended 31 December 2020.
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
||_31.12.20_|31.12.19|
|---|---|---|
|INCOMING AND ENDOWMENTS|||
|_Other trading activities_|||
|Subscriptions|20,881|25,630|
|_Investment income_|||
|Deposit account interest|9|19|
|Current asset investment income|32,315|41,199|
||———–|———–|
||32,324|41,218|
|_Charitable activities_|||
|Sales of_The Library_|107,028|103,432|
|Advertising revenue|—|1,647|
|Sales of other publications to members|36|185|
|Royalties|—|14|
||———–|———–|
||107,064|105,278|
||———–|———–|
|_Other income_|||
|Exceptional items|9,036|—|
||———–|———–|
|_Total incoming resources_|169,305|172,126|
|EXPENDITURE|||
|_Charitable activities_|||
|Lectures and meetings|3,163|7,359|
|Printing costs — other publications|1,560|—|
|Electronic publishing costs|150|10,450|
|Commission on sales of_The Library_|26,753|25,795|
|Printing costs —_The Library_|37,031|46,917|
|Post and storage —_The Library_|23,267|20,906|
|Grants to individuals|11,029|15,378|
||———–|———–|
||102,953|126,805|
|_Support costs_|||
|_Managemen_t|||
|Clerical assistance and ofce space|10,315|9,825|
|_Finance_|||
|Insurance|—|1,866|
|Postage and stationery|1,567|694|
|Sundries|865|1,131|
|Bank and Paypal charges|579|620|
|Website expenses|275|72|
||———–|———–|
||3,286|4,383|
|_Governance costs_|||
|Council and committee meeting and members list|1,227|2,045|
|Accountancy and legal fees|4,700|4,650|
||———–|———–|
||5,927|6,695|
||———–|———–|
|_Total resources expended_|122,481|147,708|
||———–|———–|
|_Net income before gains and losses_|46,824|24,418|
|_Realised recognised gains and losses_|||
|Realised gains/(losses) on fxed asset investments|(21,207)|—|
||———–|———–|
|_Net income_|£25,617|£24,418|
||———–
———–|———–
———–|