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2022-12-31-accounts

DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

Charity number: 0231043

INTERNATIONAL GLACIOLOGICAL SOCIETY

UNAUDITED

COUNCIL OF MANAGEMENT'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

CONTENTS

Page
Reference and administrative details of the Charity, its Council of Management and 1 - 2
advisers
Council of Management's report 3 - 14
Independent examiner's report 15 - 16
Statement of financial activities 17
Balance sheet 18
Notes to the financial statements 19 - 34

DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS COUNCIL OF MANAGEMENT AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

President G Flowers Vice Presidents A Glazovskiy C L Hulbe P Heil

Immediate Past President F J Navarro

Treasurer A A Leeson

Council of Management

M Blaszczyk R B Kayastha Jing Gao M E Hansson J Kohler M Huss I Das L Ruiz A Sakai R Schlegel D M Schroeder M Schneebeli

Charity registered number

0231043

Principal office

High Cross Madingley Road Cambridge Cambridge CB3 0ET

Secretary-General

M M Magnusson

Accountants

Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS COUNCIL OF MANAGEMENT AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Bankers

Bank of Scotland 38 St Andrew Square Edinburgh EH2 2YR

Bank of America 121 Moore Hopkins Lane Columbia South Carolina - 29210 United States of America

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Council of Management present their annual report together with the financial statements of the International Glaciological Society (the charity) for the year ending 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (second edition of the Charities SORP (FRS102) October 2019).

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

Main activities undertaken to further the charity's purposes for the public benefit.

In setting objectives and planning for activities, the Council of Management have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. The International Glaciological Society is a registered charity whose charitable purpose defined within the Charities Act 2011 is as follows:

The Society’s members, and the larger glaciology community within which they sit, contribute to the peer review process of grant proposals submitted to public and charitable grant awarding bodies, and of manuscripts submitted to the Society’s journals and those of other publishers. This clearly benefits the public, ensuring that only the very best science is funded from the public and charity purses, and speedily makes it through to publication.

The Society's members have also contributed substantially to public policy documents, such as the Intergovernmental Panel on Climate Change Assessment Reports, or National Government papers, by reviewing, synthesising and summarising the scientific literature concerning climate change, its effects on all aspects of the cryosphere (snowfall, sea ice, terrestrial ice, permafrost, river and lake ice) and its human impact (on avalanche activity, ocean navigation, human livelihoods in the Arctic, changing flooding risks, water supply, industrial activity in polar regions, and sea level rise).

The Society is often asked for media comment on aspects of climate and cryosphere and is able to respond directly or, more often, direct the media to relevant experts.

The Society has a number of local branches that actively encourage informal meetings, which enable young scientists to interact with senior colleagues. The Society especially favours sponsoring of workshops and initiatives aimed at young people, such as those organised by the IGS Early career Glaciologists Group (EGG) and the International Association of Polar Early Career Scientists (APECS).

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

b. Strategies for achieving objectives

The strategies employed to achieve the charity’s aims and objectives are to:

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

ACHIEVEMENTS AND PERFORMANCE

a. Main achievements of the Charity

In partnership with Cambridge University Press (CUP), during 2022 the International Glaciological Society (IGS) published a total of 89 articles, ~34 letters, 3 communication and 2 corrigendum amounting to ~1,300 pages (2021: 2021: a total of 121 articles, 13 letters and 1 communication amounting to 1,639 pages; 2020: a total of 140 articles and 5 letters and 1 communication amounting to 1,790 pages; 2019: a total of 118 articles and 4 letters amounting to 1,487 pages; 2018: a total of 115 articles and 5 letter amounting to 1,451 pages).

The reason for the lower numbers in 2022 was a consequence of Covid. Publication of the Journal of Glaciology was normal but as the Annals of Glaciology is based on articles relating to the themes of IGS symposia held the year before, in this case 2021. For obvious reasons the IGS had to cancel all its planned symposia planned for 2021 and as a result the there were no symposia associated Annals in 2022. We did manage to initiate what will be a publication of 3 issues of the Annals base of ‘Correspondences’ based on presentations made at the IGS Global Seminar Series. All the submissions are fairly short, hence they are classified as ‘Correspondences’. That corresponds to substantially fewer total pages published in 2022.

The CUP arranges the production and publication of the journals of the International Glaciological Society (IGS) on behalf of the Society meaning that all subscription and article processing charge income from the journals goes to CUP rather than the IGS. In return, CUP pays the IGS a royalty based on the income received. For 2022 this revenue is £80,896 compared to £130,279 in 2021, £113,227 for 2020, £74,684 for 2019 and £72,449 in 2018. The peaks in 2021 and 2020 are due to CUP introducing what used to be called a ‘Read and Publish’ agreement but is now referred to as 'Transformative Agreements'.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

b. Key performance indicators

The key performance indicators are the number of delegates attending symposia, membership numbers and pages published in the Society’s journals.

During 2022 the Society sponsored three symposia and co-sponsored a fourth one.

The first was held in Bilbao in the Basque Country, Spain. The theme was on ‘Ice in a Sustainable Society (ISS)’. The total number of presentations submitted for this symposium was 49 consisting of 41 oral presentations and 8 poster presentations.

The symposium was attended by 62 delegates of which 17 (27%) were students and early career scientists.

The second was held in Juneau, Alaska, USA. The theme was on ‘Maritime Glaciers’. The total number of presentations submitted for this symposium was 77 consisting of 53 oral presentations and 24 poster presentations.

The symposium was attended by 86 delegates of which 39 (45%) were students and early career scientists.

The third symposia sponsored by the IGS was held in Davos, Switzerland. The theme was on ‘Snow’. The total number of presentations submitted for this symposium was 126 consisting of 65 oral presentations and 60 poster presentations.

The symposium was attended by 147 delegates of which 52 (35%) were students and early career scientists.

Finally, the IGS co-sponsored a symposium in Reykjavík, Iceland. The theme was ‘Ice, Snow and Water in a Warming World’. 430 abstracts were submitted in total. The IGS took part in the scientific organisation of the symposium and was responsible for the scientific editing of papers submitted for publication in the associated Annals of Glaciology issue to be published by the IGS.

A total of 306 people from 33 countries on 6 continents registered for participation in the conference: With 156 female and 150 male participants registered, gender balance was very close to 50/50. In total, 348 presentations were given at the symposium, 174 oral and 174 posters, thereof 106 presentations by students.

Further, the IGS sponsored the IGS Branch meetings. Namely in New Zealand where they held their meeting at the beginning of February with 22 presentations. The IGS British Branch was held at the beginning of September, this time in person. The Nordic Branch was also held in-person. We had 86 delegates and 58 abstracts, 16 of which were presented by students and early carrier scientists.

In North America, the IGS branch, Northwest Glaciologists held their meeting in October at the University of Idaho, in Moscow, Idaho, USA and the Northeast Glaciology branch meeting was held at Dartmouth College, New Hampshire, USA in April.

The International Glaciological Society’s weekly seminar series, established in 2020, at the start of Covid, continued in fine form in 2022 The weekly seminar had glaciologists from all over the world present one hour seminars at 2100 GMT/BST on Wednesdays. This has continued to be hugely successful and has been very positive publicity for the Society as we can see in the dramatic increase in our following on social media. We also believe it has resulted in an increase of new members and lapsed ones renewing (although this is more difficult to confirm).

In 2022 there were 32 seminar sessions and 48 presentations were given: several sessions were dedicated to Early Career Researchers (ECR) where three ECRs gave a presentation. We also started including aa monthly Sea Ice session with 2 presentations per evening.

The seminars have made a concerted effort to comply with the Society’s policy on ‘Actions on Diversity and Inclusivity’. This effort has been very successful as can be seen in the extensive and impressive list of speakers.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

At present we have in excess of 2,300 people signed up to the Seminars with an average of 30 to 80 participants per session.

All talks are live streamed on FaceBook and recorded and posted on the IGS YouTube channel. The channel is developing into a listing of ‘state of the art’ glaciology. We currently have 835 subscribers to our video channel.

Furthermore, the seminars are turning into a major teaching tool worldwide where glaciology students can listen to world experts in the field and put questions to them.

In partnership with Cambridge University Press, during 2022 the Society published 1248 pages in the Journal of Glaciology (the same number as in 2021).

We published ~150 pages in the Annals of Glaciology in 2022, a decrease of 38%.

The reason for the lower numbers in 2022 was a consequence of Covid. Publication of the Journal of Glaciology was normal but as the Annals of Glaciology is based on articles relating to the themes of IGS symposia held the year before, in this case 2021. For obvious reasons the IGS had to cancel all its planned symposia planned for 2021 and as a result the there were no symposia associated Annals in 2022. We did manage to initiate what will be a publication of 3 issues of the Annals base of ‘Correspondences’ based on presentations made at the IGS Global Seminar Series. All the submissions are fairly short, hence they are classified as ‘Correspondences’. That corresponds to substantially fewer total pages published in 2022.

We published two issues of ICE in 2022, a double issue, 61 pages in total c.f. with 111 pages in 2021.

During 2022 the Society’s paid membership reached 595 members, slightly less than the previous year (625). We did not issue any free membership to delegates registering at non-member rates for IGS symposia which would boost our membership. Thus the 2022 memberships are directly comparable to the numbers published in last year’s report i.e. the ‘total’ membership is the same as the ‘paid’ membership.

We can thus state that the ‘paid’ membership decreased by 4.8% between 2021 and 2022.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

c. Review of activities

The Society carried out the following activities during the year:

Publishing

Symposia and meetings

During 2022 the Society sponsored three symposia and co-sponsored a fourth one.

Further we sponsored the various IGS Branch meetings:

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

FINANCIAL REVIEW

a. Going concern

After making appropriate enquiries, the Council of Management have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies and the plans for future periods section within the Council of Management's report.

b. Reserves policy

At 31 December 2022 the free reserves of the charity (unrestricted reserves less tangible fixed assets) amounted to £483,667 (2021: £473,922).

Council has formulated a policy to establish a financial base from which the activities at the present level would be secure in the event of future financial difficulties. In particular, its aim is to:

Based on the above, reserves required are approximately £404,000 compared to free reserves held of £483,667. The Trustees will continue to monitor the policy in light of spending commitments and the current economic uncertainty.

c. Financial Review

The results for the year are set out in the attached financial statements.

Total income amounted to £261,425 (2021: £171,792) which, after expenditure of £245,726 (2021: £151,784) resulted in a net surplus before investment gains/losses of £15,699 (2021: £20,008). The unrealised loss on the revaluation of fixed asset investments amounted to £9,824 (2021: unrealised gain £14,741), resulting in a net movement in funds of £5,875 (2021: £34,749).

At the end of the year the Society had net assets of £490,057 compared with £484,182 at the end of the previous year, of which £5,591 (2021: £8,534) is restricted.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

d. Principal risks and uncertainties

The Council of Management has examined the major strategic, business and operational risks which the charity faces. The major risk to the finances of the IGS remains that in the wake of entering into partnership with Cambridge University Press (CUP) and the subsequent loss of page charge and subscription income. The CUP royalty is predominately dependent upon the number of accepted papers to be published in the Society’s journals. A reduction in the number of papers published is reflected in a reduction in the amount received from the CUP and vice versa. In 2022 the royalties from CUP amounted to £80,896 compared to £130,279 in 2021. As mentioned above, the peaks in 2021 and 2020 are due to CUP introducing what used to be called a ‘Read and Publish’ agreement but is now referred to as 'Transformative Agreements'.

For this reason, Council has determined a reserves policy as set out above. Systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the impact of the risks.

e. Principal funding

Since the commencement of the publishing partnership with Cambridge University Press (CUP), the source of the Society’s principal funding has changed from the sales of publications, author processing charges (APCs) and membership fees to royalties from CUP, membership fees, symposia registration fees and to a small extent the sale of ICE and merchandise.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The International Glaciological Society was founded in 1936 and was registered as a charity in 1961.

The constitution of the Society was approved at a Special General Meeting held in Cambridge on 6 January 1962 and subsequently amended on 22 February 1968, 1 January 1972, 6 April 1977, 31 July 1985, 5 July 1989 and 14 October 1992. Under the constitution the affairs of the Society, which is a registered charity (number 231043), are managed by a Council of Management and a Secretary General appointed by the Council. An amended constitution was accepted by the IGS Annual General Meeting held in Oslo, Norway, on 5 November 2021. It was then submitted to the general membership and the results of that voting was received in March 2022. The amended Constitution was then submitted online to the Charity Commission which approved the amendments. The Society is now operating according to the amended constitution.

b. Methods of appointment or election of Council of Management

Council members are elected at an Annual General Meeting and may hold office for a term not exceeding three years without further election. This Council shall have power to co-opt not more than three extra members. Six members of the Council shall form a quorum.

No Council meetings were held in 2021 but we were able to hold an Annual General Meeting in Oslo, Norway. The composition of the Council remained unchanged until the AGM which was held 5 November 2021 in Oslo.

The IGS Council composition as of 5 November 2021 is thus:

G Flowers (President)

P Heil (Vice President) C Hulbe (Vice President) A Glazovskiy (Vice President)

A.A. Leeson (Treasurer)

FJ Navarro (Immediate Past President)

M Blaszczyk R. B Kayastha Jing Gao J. Kohler M E Hansson M Huss L. Ruiz M Schneebeli A Sakai I Das D M Schroeder R Schlegel

c. Organisational structure and decision-making policies

Council determines the general policy of the Society. The day-to-day affairs of the Society are run by the Secretary General.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

d. Pay policy for key management personnel

The senior management team in charge of directing and controlling, running and operating the Society on a day to day basis together with the Council of Management comprise the key management personnel of the charity.

Secretary General

M M Magnússon

The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings and the change in the ‘Retail Price Index’ over the past year.

In view of the nature of the charity, the benchmark is set against pay levels in other similar learned societies with a charity status of a similar size. In addition, a review of similar jobs on the open market is taken into account. The remuneration paid for similar roles is adjusted in view of any additional responsibilities. Being a small charity, it is necessary for staff to assume responsibilities for several tasks, thus requiring very adaptable individuals willing and able to take this on.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

PLANS FOR FUTURE PERIODS

During 2023 the Society plans to carry out the following activities:

Prepare the publication of Annals of Glaciology – Volume 65:

All in partnership with Cambridge University Press.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

COUNCIL OF MANAGEMENT'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of Council of Management's responsibilities

The Council of Management are responsible for preparing the Council of Management's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Council of Management to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Council of Management are required to:

The Council of Management are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Council of Management and signed on their behalf by:

................................................

G Flowers President

Date: 30 October 2023

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF MANAGEMENT OF INTERNATIONAL GLACIOLOGICAL SOCIETY ('the Charity')

I report to the charity Council of Management on my examination of the accounts of the Charity for the year ended 31 December 2022.

RESPONSIBILITIES AND BASIS OF REPORT

As the Council of Management of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), 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: 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) 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 been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the 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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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.

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.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

This report is made solely to the Charity's Council of Management, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Council of Management those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Council of Management as a body, for my work or for this report.

Signed: Michael Hewett

Dated: 31 October 2023 FCA DChA

Peters Elworthy & Moore, Salisbury House, Station Road, Cambridge, CB1 2LA

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
INCOME FROM:
Donations
3
Charitable activities
4
Other trading activities
Investments
5
TOTAL INCOME
EXPENDITURE ON:
Raising funds
6
Charitable activities
7
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
BEFORE NET (LOSSES)/GAINS ON
INVESTMENTS
Net (losses)/gains on investments
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2022
£
10
251,906
16
9,327
261,259
318
242,299
242,617
18,642
(9,824)
8,818
475,648
8,818
484,466		 Restricted
funds
2022
£
-
-
-
166
166
-
3,109
3,109
(2,943)
-
(2,943)
8,534
(2,943)
5,591		 Total
funds
2022
£
10
251,906
16
9,493
261,425
318
245,408
245,726
15,699
(9,824)
5,875
484,182
5,875
490,057		 Total
funds
2021
£
10
164,697
53
7,032
171,792
(34)
151,818
151,784
20,008
14,741
34,749
449,433
34,749
484,182

The notes on pages 19 to 34 form part of these financial statements.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

BALANCE SHEET AS AT 31 DECEMBER 2022

2022 2022 2021
Note £ £
FIXED ASSETS
Tangible assets 11 799 1,726
Investments 12 166,551 176,375
167,350 178,101
CURRENT ASSETS
Stocks 13 1,990 2,308
Debtors 14 40,331 88,132
Investments 15 202,431 202,340
Cash at bank and in hand 127,109 63,443
371,861 356,223
Creditors: amounts falling due within one
year 16 (49,154) (50,142)
NET CURRENT ASSETS 322,707 306,081
TOTAL NET ASSETS 490,057 484,182
CHARITY FUNDS
Restricted funds 17 5,591 8,534
Unrestricted funds 17 484,466 475,648
TOTAL FUNDS 490,057 484,182

The financial statements were approved and authorised for issue by the Council of Management and signed on their behalf by:

................................................

G Flowers

President

Date: 30 October 2023

The notes on pages 19 to 34 form part of these financial statements.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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) (second edition of the Charities SORP (FRS102) October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

International Glaciological Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Council of Management in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.3 GOING CONCERN

The Council of Management have reviewed the financial position of the Charity and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.

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INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (CONTINUED)

1.4 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Income in relation to the publication of Journals and Annals is recognised at the later of the publication date or receipt of a sales order.

Royalty income is recognised in the period to which it relates.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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 allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. These are apportioned between activities on a basis consistent with the use of resources.

Costs of generating funds are merchandise costs. No support costs are allocated to fundraising as they are considered immaterial.

All expenditure is inclusive of irrecoverable VAT.

1.6 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (CONTINUED)

1.7 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliability in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the Statement of Financial Activities.

1.8 CURRENT INVESTMENT

Current asset investments represent cash held on deposit with a maturity date of less than one year which is being held for investment purposes rather than to meet short term cash commitments as they fall due.

1.9 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

1.10 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

1.11 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES (CONTINUED)

1.13 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

1.14 OPERATING LEASES

Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term. The COVID-19 related rent concession has been accounted for inline with FRS102.

1.15 FOREIGN CURRENCIES

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the statement of financial activities.

1.16 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

The trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

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INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. INCOME FROM DONATIONS

Donations
Total 2021
In 2021 all income from donations was unrestricted.		 Unrestricted
funds
2022
£
10
10		 Total
funds
2022
£
10
10		 Total
funds
2021
£
10

4. INCOME FROM CHARITABLE ACTIVITIES

Journal, Ice and books
Meetings and Symposia
Membership
CUP Royalty
TOTAL 2022
Total 2021		 Unrestricted
funds
2022
£
3,692
140,586
26,732
80,896
251,906
164,697		 Total
funds
2022
£
3,692
140,586
26,732
80,896
251,906
164,697		 Total
funds
2021
£
4,397
1,188
28,833
130,279
164,697

In 2021 all income from charitable activities was unrestricted.

5. INVESTMENT INCOME

Dividends and interest (gross)
Bank deposit interest
TOTAL 2022
Total 2021		 Unrestricted
funds
2022
£
9,241
86
9,327
6,901		 Restricted
funds
2022
£
-
166
166
131		 Total
funds
2022
£
9,241
252
9,493
7,032		 Total
funds
2021
£
6,624
408
7,032

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. EXPENDITURE ON RAISING FUNDS

Merchandising expenses
Total 2021		 Unrestricted
funds
2022
£
318
(34)		 Total
funds
2022
£
318
(34)		 Total
funds
2021
£
(34)

In 2021 all expenditure on raising funds was unrestricted.

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Publications and Journals
Meetings/Symposia
TOTAL 2022
Total 2021		 Activities
undertaken
directly
2022
£
38,587
98,802
137,389
62,867		 Grant
funding of
activities
(note 8)
2022
£
-
2,574
2,574
4,387		 Support
costs
2022
£
85,997
19,448
105,445
84,564		 Total
funds
2022
£
124,584
120,824
245,408
151,818		 Total
funds
2021
£
121,558
30,260
151,818

in 2021 direct publication and journal activities were £39,697 and meetings/symposia were £23,170 while support costs for publications and journals were £81,861 and £2,703 for meetings/symposia.

In 2021, all expenditure was unrestricted.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF DIRECT COSTS

Wages and salaries
Printing
Proof reading and editorial costs
Distribution expenses
Online submission fees etc
Symposia
TOTAL 2022		 Publication
s and
Journals
2022
£
36,591
1,582
335
79
-
-
38,587		 Meetings/
Symposia
2022
£
26,833
-
-
-
1,699
70,270
98,802		 Total
funds
2022
£
63,424
1,582
335
79
1,699
70,270
137,389		 Total
funds
2021
£
59,421
579
1,411
106
-
1,350
62,867

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

Wages and salaries
Depreciation
Manufacturing of Seligman, Richardson medal,
ECS, and Firn awards
Office rent
Telephone, stationery and postage
Computer and website costs
Travel and subsistence
Bank charges (including credit card fees)
Sundry expenses
Early Career medal costs
Bad debts
Richardson medal costs
Bookkeeping fees
Loss on disposal of fixed asset
Foreign exchange deficit
Bookkeeping fees - Governance
Professional fees - Governance
Independent Examination - Governance
TOTAL 2022		 Publication
s and
Journals
2022
£
34,153
927
3,109
12,352
2,943
13,727
-
889
1,765
-
-
141
6,409
-
(998)
1,357
723
8,500
85,997		 Meetings/
Symposia
2022
£
-
-
-
3,183
638
2,348
8,753
4,156
370
-
-
-
-
-
-
-
-
-
19,448		 Total
funds
2022
£
34,153
927
3,109
15,535
3,581
16,075
8,753
5,045
2,135
-
-
141
6,409
-
(998)
1,357
723
8,500
105,445		 Total
funds
2021
£
31,441
1,359
-
3,190
3,243
20,760
1,332
849
1,826
2,019
113
1,309
5,079
495
(65)
952
2,812
7,850
84,564

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. ANALYSIS OF GRANTS

Grants, Meetings/Symposia
Total 2021		 Grants to
Institutions
2022
£
2,574
4,387		 Total
funds
2022
£
2,574
4,387		 Total
funds
2021
£
4,387

No grants (2021: None) were made to individuals in the year from the Graham Cogley Award Fund. Due to the value of grant costs, no support costs have been allocated (prior year: none).

The Charity has made the following grants to institutions during the year:

NAME OF INSTITUTION
Universiteit Utrecht
Uppsala University
Early-career Glaciologists Group
9.
INDEPENDENT EXAMINER'S REMUNERATION
Fees payable to the Charity's independent examiner in respect of:
The independent examination of the Charity's annual accounts
All other services		 2022
£
2,074
500
-
2,574
2022
£
3,500
5,000		 2021
£
-
-
4,387
4,387
2021
£
3,200
4,650

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. STAFF COSTS INCLUDING KEY MANAGEMENT PERSONNEL

Wages and salaries
Social security costs
Other pension costs		 2022
£
86,216
6,188
5,173
97,577		 2021
£
80,201
5,849
4,812
90,862

The average number of persons employed by the Charity during the year was as follows:

2022 2021
No. No.
Secretary-General 1 1

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
No. No.
In the band £80,001 - £90,000 1 1

The key management personnel of the charity as at 31 December 2022 comprise the Council of Management, Secretary-General and Membership and Accounts Manager, who works 'freelance' for the IGS. The Council of Management give their time freely. No Council Member received any remuneration or benefits in kind from the charity for their duties (2021 - None). The total employee benefits including employer pension costs and employer national insurance cost of the key management personnel of the charity were £97,577 (2021 - £90,862) for the Secretary-General.

During the year, no (2021 - None) Council Members received reimbursement of expenses.

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INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 January 2022
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for the year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
12.
FIXED ASSET INVESTMENTS
COST OR VALUATION
At 1 January 2022
Revaluations
AT 31 DECEMBER 2022
NET BOOK VALUE
AT 31 DECEMBER 2022
At 31 December 2021		 Fixtures and
fittings
£
1,619
1,619
461
397
858
761
1,158		 Computer
equipment
£
9,515
9,515
8,947
530
9,477
38
568		 Total
£
11,134
11,134
9,408
927
10,335
799
1,726
Listed
investments
£
176,375
(9,824)
166,551
166,551
176,375

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INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. FIXED ASSET INVESTMENTS (CONTINUED)

All the fixed asset investments are held in the UK.

All investments are carried at their fair value. Holdings in common investment funds, unit trusts and openended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

The Charity manages the investment portfolio themselves and do not consider that they require the advice of an expert advisor at the present time.

The Charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term growth and annual income.

The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions.

Investments at market value value comprises of equity investments.

13. STOCKS

2022 2021
£ £
Merchandise for resale 1,990 2,308

14. DEBTORS

Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
-
34,306
6,025
40,331		 2021
£
125
78,719
9,288
88,132

15. CURRENT ASSET INVESTMENTS

2022 2021
£ £
Fixed term deposits 202,431 202,340

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INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Accruals
Other taxation and social security
Other creditors
Deferred income
Deferred income at 1 January 2022
Resources deferred during the year
Amounts released from previous periods
DEFERRED INCOME AT 31 DECEMBER 2021		 2022
£
8,376
10,656
11,697
1,997
16,428
49,154
2022
£
19,327
16,428
(19,327)
16,428		 2021
£
6,230
8,011
14,024
2,550
19,327
50,142
2021
£
21,614
19,327
(21,614)
19,327

Deferred income relates to 2023 memberships subscriptions and royalties received in advance.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
Unrestricted Fund
RESTRICTED FUNDS
Restricted Funds - Seligman
Fund
Restricted Funds - Graham
Cogley Award Fund
TOTAL OF FUNDS		 Balance at 1
January
2022
£
475,648
3,342
5,192
8,534
484,182		 Income
£
261,259
65
101
166
261,425		 Expenditure
£
(242,617)
(3,109)
-
(3,109)
(245,726)		 Gains/
(Losses)
£
(9,824)
-
-
-
(9,824)		 Balance at
31
December
2022
£
484,466
298
5,293
5,591
490,057

Purpose of Principal Funds

Unrestricted Fund - This represents unrestricted funds available to support the Society’s charitable purpose.

Seligman Fund - In late 1962, the concept of an award for excellence in the discipline of glaciology took shape at a Council meeting in Obergurgl, Austria, in the form of a hexagonal crystal of high-quality glass named the Seligman Crystal after the Society's founder. The Seligman Fund was created to fund the award of the Seligman Crystal which is '...awarded from time to time to one who has made an outstanding scientific contribution to glaciology so that the subject is now enriched'. It is represented by net current assets.

The Graham Cogley Award Fund - This award was established in memory of Professor Graham Cogley who made substantial and enduring contributions to glaciology, in particular to the understanding and quantification of glacier mass change. Graham is also recognized for his sustained and outstanding service to the wider glaciological community, including as IGS Chief Editor between 2016 and 2018. The Graham Cogley Award recognizes excellence in glaciological research by student scientists. The award was initiated and is generously sponsored by the Cogley family and is shared between the International Glaciological Society IGS and the International Association of Cryospheric Sciences IACS, with the IGS and the IACS giving out the award in alternate years. The IGS will give out two 'Graham Cogley Awards' to students who have published papers of exceptional quality in the Journal of Glaciology or the Annals of Glaciology within the last two years. Each award will include a cash prize of CAN$ 500 and a certificate. The awardees and their papers will be promoted online, including in the "Awards" section of the IGS web site. The two Graham Cogley Awards will be given each second (even-numbered) year, commencing in 2020. The second prize is due to be awarded in 2022.

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS
Unrestricted Fund
RESTRICTED FUNDS
Restricted Funds - Seligman
Fund
Restricted Funds - Graham
Cogley Award Fund
TOTAL OF FUNDS		 Balance at
1 January
2021
£
441,030
3,291
5,112
8,403
449,433		 Income
£
171,661
51
80
131
171,792		 Expenditure
£
(151,784)
-
-
-
(151,784)		 Gains/
(Losses)
£
14,741
-
-
-
14,741		 Balance at
31
December
2021
£
475,648
3,342
5,192
8,534
484,182

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
TOTAL		 Unrestricted
funds
2022
£
799
166,551
366,270
(49,154)
484,466		 Restricted
funds
2022
£
-
-
5,591
-
5,591		 Total
funds
2022
£
799
166,551
371,861
(49,154)
490,057

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DocuSign Envelope ID: BC99CB79-F6C6-4C01-AA75-BE4424C5E2F1

INTERNATIONAL GLACIOLOGICAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
TOTAL		 Unrestricted
funds
2021
£
1,726
176,375
347,689
(50,142)
475,648		 Restricted
funds
2021
£
-
-
8,534
-
8,534		 Total
funds
2021
£
1,726
176,375
356,223
(50,142)
484,182

19. PENSION COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £5,173 (2021 - £4,812). Contributions totalling £952 (2021 - £885) were payable to the fund at the balance sheet date and are included in creditors.

20. OPERATING LEASE COMMITMENTS

At 31 December 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

AMOUNTS PAYABLE
Not later than 1 year
Later than 1 year and not later than 5 years		 2022
£
15,703
11,777
27,480		 2021
£
14,257
24,950
39,207

21. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year (2021 - None).

Page 34