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2023-06-30-accounts

ANNUAL REPORT AN D AUDITED FIN ANCIAL STATEINENTS FOR THE Y EAR ENDED 30JUNE 2023
INDEX
Page
Trustees and Advisors
1 and 2
Report ofthe Trustees 3to 18
Report ofthe Independent Auditors 19and 20
Statements
of Financial		 Activities 21 to 23
Balance Sheet
24
Notes to the Financial Statements 25 to 31

OFFICE
12 Baylis Mews
93 - 101Amyand Park Road
Twickenham
Middlesex TW1 3HQ
EQUALITY DIVERSITY INCLUSIVITY OFFICER L. Kelly
ADMINISTRATION Executive Director K. Murphy
Finance and Operations Manager R. Rajendra
AUDITORS David M. Rees &Associates Limited
Well Cottage
Cucumber
Lane
Essendon
Hertfordshire AL9 6JB
SOLICITORS Nabarro
Nathanson
Lacon House
84 Theobald's Road
London
WC1X 8RW
BANKERS Coutts &Co
440 Strand
London WC2R OQS
INVESTMENT MANAGER Schroder &Co. Limited, trading as Cazenove Capital
1 London Wall Place
London
EC2Y 5AU
WEBSITE www. minersoc. org
CHARITY REGISTRATION NUMBER 233706

Position Name Institution
Chair Mare-Alban
Millet		 Cardiff University
Secretary Marie-Laure
Bagard		 Cambridge University
Treasurer Jane Barling University ofOxford
Communications Officer Gordon
Inglis		 University of Southern pton
Member Madeleine
Stow		 University ofOxford
Member James Bendle University ofBirmingham
Member Eleanor Georgiadis University ofOxford
Member Paul Savage University ofStAndrews
Member Helen Williams Cambridge University
Member David I/Ililson University College London
Member Catriona Menzies Durham
University
Co-opted Member Queenie Chan Royal Holloway
Co-opted Meinber Savannah
Wome		 I oughborough
University
Student Representative
Geomicrobiology
Network		 Sophie Slater Cardiff University

ACTIVITY Bodgsl for2022fgosf soy
fuss 2025 ffess Vsrlstiori
Mineralogical
Magazine		 INCOME O.DO
INCOME -CUP (MM,CM) I41,898.00 180,400.00 38,502.00
INCOME- GSW
INCOME - CONTRIBUTIONS
INCOME - De GRUYTER
INCOME - DONATION 25,000.00 -25.000.DO
EXPENDITURE
EXPENDITURE - [MM CM) 36,000.00 -39862.00 -3,862.00
EXPENDITURE-GSW
Cia
Minerals		 INCOME 2,000.00 14900 I 851 00
INCOME- GSW
EMU Series INCOME 3,00D.OD 10,538.00 7,538.00
EXPENDITIJRE 1,50D,DO 1,321.00 179.00
DHZ INC OI@IE 16,000.0D 15,506.00 -494.00
EXPENDITURE 4.000 00 -5,334.00 -1,334.00
Landmark
Series		 INCOME 0.00 68.00 68.00
EXPENDITURE 0.00 -43.00 -43.00
Olher Books INCOME 50000 1,331.00 831.00
EXPENDITURE 150.00 150.00
Conferences INCOLIE 10,000.00 2,561.00 -7,439.00
EXPENDITURE 5mii 00 -8,621.00 -3,621.00
6
osl Inreresl Groups		 INCOME 16.167.00 56,587.00 40,420.00
EXPENDITURE 7,750 00 .66,212.00 -58,462.0D
Investments
Investment
-Drawdown
Realised and unrealised		 Gains INCOME
INCOME
INCOME		 1,300 00
26,000.00
0.00		 22,775.00 -4,525.00
EXPENDITLIRE O.OD
MlscsD aneous INCOME 2,250.00 2,400.00 150.00
EXPENDiTURE 250.00 25D.OO
General
Fund -members		 subscriptions INCOME 34,000.00 30,478.00 -3,522.00
Gift Aid INCOME 1,000.00 787.00 -213.00
Office Staff Remuneration
Offfce Staff Expenses
Rent, Rates and House Expenses
Printing,
Stationery,
Maintenance
ofOffice Machinery
Insurance
Postage
Tele hone and Computer
Bank and Credit Card Charges
Elements
Chartered
Scientist
Temper
staff Misceganeous
Oflice Expenses		 EXPENDfTURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDtTURE		 128.000.00
7,500.00
7,000.00
3,D00.00
2,50000
15250.00
3,500.00
1 000.00
12,000.00
0.00		 1,685.00
12240.00
-3,023.00
650.00
10,327.00
126,524.00
551.00
-4,664.00
940.00		 815.0D
3,01D.OD
477.00
350.00
1,673.00
'l,476.00
6,949.00
2,336.00
2,060.00
Trade Association Fees EXPENDITURE 1 000.00 643.00 357.00
Business Meeting Expenses- Officers
Bursaries - Student and Senior
Audit and Accounlanc
Fees
Depreciation
is inguis
ec urer
os s,
u ure o
President's
Lunch		 e ome y EXPENDITURE
EXPENDITURE
EXPENDITURE
EXPENDITURE
EXP
DITURE
EXPENDITURE		 5000.00
6000.00
14,000.00
500.00
1,000.00
0.00		 628.00
4110.00
11,970.00
799.00
-902.00		 4,372.00
1,89D.OO
2,030.00
299.00
98.00
Investments
Direct Charges
Profsssionaifees
Medals and MedaOist Travel		 EXPENDITURE
EXPENDITURE		 4,000.00
1,000.00
3,700.00		 4,294.00
1,379.0D		 -294,00
1,000.00
2,321,00
htbmnefssiiiatdfhua - us 11,515.09 15,271.00 3,756 00

CONSOLIDATED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES
30JUNE 2023
Notes Unrestricted Restricted Total
Funds Funds Funds 2022
F E 6
Total Income 323,580 4,535 328,115 253,069
Total Expenditure -309,425 -3,419 -312,844 -269,381
Net expenditure and Net Movement in Funds 14,155 1,116 15,271 -16,312
before Gains and Losses on Investments
Net (Deficit) Gains on Investments 9 -9,224 -9,224 -27,019
Net Movement in Funds 4,931 1,116 6,047 -43,331
Total Funds
Total Funds		 1 July 2022
30June 2023		 1,370,750
1,375,681		 29,413
30,529		 1,400,163
1,406,210		 1,443,494
1,400,163

Income Notes 2023 2022
L'
Donations
and Legacies		 2,250 2,250
Investment
Income		 22,775 17,696
Income from Charitable Activities
Members'
Subscriptions		 30,478 34,544
Gift Aid 787 589
Conference
and Meetings		 Support 2,560
Cambridge
University
Press		 180,400 146,792
Publications
Income		 27,593 23,995
Special Interest Groups Income (Page 23) 72,587 38,541
Less: Allocation
from Mineralogical		 Society -16,000 56,587 -16,000 22,541
Miscellaneous
Income		 150
TOTAL Income 323,580 248,407
Expenditure
Contribution
to Sustaining		 Membership Fund 2,703 2,654
Expenditure
on Charitable		 Activities
Subscriptions 1,183
Journals
Expenditure
Elements 10,327 9,867
Conference
and Meetings		 Expenditure 8,621 951
Mineralogical
Society Medals		 1,379 1,544
Distinguished
Lecturer		 902 267
Website and Future ofthe Society 3,416
Journal
Editorial Costs		 39,862 39,309
Publications
Expenditure		 6,698 9,832
Travel Bursaries 4,110 3,613
Special Interest Groups Expenditure (Page 23) 72,350 27,923
Less: Transactions
with the		 Mineralogical Society -6,138 66,212 -2,352 25,571
Office Expenses 114,211 111,480
Support Costs 52,958 54,532
Depreciation 799 729
Miscellaneous
expenditure		 1,583
TOTAL Expenditure 309,425 266,531
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Notes 2023 2022
FIXEDASSETS
Tangible Assets 345,837 345,970
Investments 837,541 829,879
Total Fixed Assets 1,183,378 1,175,849
CURRENT ASSETS
Debtors 10 22,182 16,691
Cash at Bank and in Hand 11 287,687 314,767
Total Current Assets 309,869 331,458
LIABILITIES
Creditors: Amounts Falling
Due Within One Year 12 -87,037 -107,144
Total Assets Less Current Liabilities 222,832 224,314
NET ASSETS 1,406,210 1,400,163
The Funds ofthe Charity:
Unrestricted
Income Funds		 1,375,681 1,370,750
Restricted
Income		 Funds - Sustaining Membership Fund 18,734 17,166
- Willy Aspinall Prize Fund 11,795 30,529 12,247 29,413
TOTAL CHARITY FUNDS 1,406,210 1,400,163

2023 2022
2. b. Analysis ofstaff costs F
Remuneration 154,855 147,373
National
Insurance		 2,620 2,817
Life Assurance 1,124 1,004
Pension Costs 6,644 6,554
TOTAL 165,243 157,748
The average
monthly
headcount
was		 7 staff (2022 - 7) and the average 2023 2022
monthly
number of full-time equivalent		 employees (including part time staff) during
the year was as follows:- Publishing 2.5 2.5
Office Staff 2 2
Total 4.5 4.5
One employee
had employee		 benefits that fell within the band F60,000 —f69,999(2022 - One)
All employee
time is involved		 in providing either support to the governance ofthe charity or
support services to the charitable activities.
2023 2023 2022 2022
c. Key management
compensation		 F f
Salary Pension Salary Pension
Executive Director 69,439 65,302
Finance and Operations Manager 50,972 4,800 49,571 4,800
In addition to the above, national insurance contributions totalled 61,299(2022 - F1,582)
3. ALLOCATIONS TO GROUPS by General Fund
An allocation
is made to		 eight special interest groups of616,000 for the year (2022 - f16,000).
Page 2023 2022
4. VOLUNTARY
INCOME		 - Donations F
Sustaining
Membership		 Restricted Fund 21 1,473 1,961
General
Fund - Geological Society		 22 2,250 2,250
Special Interest Groups 23
Geochemistry
Group
Agilent Technologies 1,000
Anton Parr 500
Elemental
Scientific		 Instruments 1,000
Isotopx 1,000
Nu Instruments 500
QMX Laboratory 750
Thermo Fisher 400 5,150
Metamorphic
Studies Group
Zeiss 1,000
Volcanic and Magmatic Studies Group
British Geophysical
Association		 500
Denton Seismo Limited 700
Geological Society 1,500
Hilary Downes 300
JEOL 400
Thermo Fisher 1,000
Thermo Fisher scientific Award 500
Zeiss 500 5,400 11,550

INVESTMENT INCOME 2023 2022
Dividends
and Interest		 F.
Unrestricted
Funds		 22,775 17,696
Restricted
Funds		 359 47
Individual
Groups		 570 74
23,704 17,817
Interest on Cash Deposits 1,113 223
On Listed Investments 22,591 17,594
23,704 17,817
OFFICE EXPENSES The breakdown ofoffice costs and how these are 2023 2022
allocated between
Governance		 and Charitable Activities is shown below:- F.
Office Staff Remuneration 127,634 122,259
Reimbursement
of staff		 expenses MDSG -1,110 -933
126,524 121,326
Office Staff Expenses 551 1,528
Rent, Rates and House Expenses 4,664 6,234
Printing,
Stationery,
Maintenance		 of Office Machines 940 1,387
Insurance 1,685 2,049
Postage, Telephone
and		 Computer 12,240 10,541
Bank and Credit Card Charges 3,023 3,446
Miscellaneous
Expenses		 including office assistance 650 173
23,753 25,358
150,277 146,684
Allocation as follows:- 2023 2022
o/o o/o F f
Charitable
Activities		 76 76 114,211 111,480
Governance
and Support		 Costs (Note 7) 24 24 36,066 35,204
100 100 150,277 146,684
Allocation
is calculated		 on the basis of staff time, cost and office usage.
2023 2022
SUPPORT COSTS 8
Governance
and Support		 Costs
Office Expenses
24'/o (2022 - 24'/o) (see note		 6) 36,066 35,204
Business Meetings Expenses (Travel) 628 1,231
Investment
Charges		 4,294 4,325
Auditor's
Remuneration		 11,970 13,772
Total Allocated 52,958 54,532

are recognised a t the date of trade at cost (that is their transaction
value)		 .
10. DEBTORS 2023 2022
E
Other Debtors and Prepayments 13,219 12,687
Publications 2,000 4,004
Conferences 6,963
22,182 16,691
11. CASH AT BANK AND IN HAND 2023 2022
Applied
Mineralogy
Group
Clay Minerals Group
Environmental
Mineralogy		 Group 18,311
38,678
6,289		 21,195
42,050
5,911
Geochemistry Group 17,146 8,465
Geornicrobiology Network 16,483 15,937
Metamorphic Studies Group 13,439 13,168
Mineral
Physics		 Group 15,687 14,129
Volcanic & Magmatic Studies Group 33,670 37,115
159,703 157,970
Group Monies on Reserve Account 39,703 67,970
Deposit Account 120,000 90,000
159,703 157,970
Sustaining
Members		 Reserve Account 17,408 15,401
Willy Aspinal Reserve Account 11,795 12,248
29,203 27,649
Mineralogical Society Current Account 93,781 94,148
Reserve Account 5,000 5,000
Deposit Account 0 30,000
98,781 129,148
Total Cash at Bank 287,687 314,767
12. CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022
Publications F F
Cambridge University Press 54,415 56,322
DHZIII 1,551 1,728
Elements 3,707
Geoscience World 9,656 9,656
Conferences 6,290
HM Revenue & Customs VAT 7,367 7,185
Other Creditors 1,048 9,256
Accruals 13,000 13,000
87,037 107,144