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2021-03-31-accounts

Unrestricted Restricted Endowment Total Total
funds funds fund 2021 2019
Notes £000 £000 £000 (15mths) (12mths)
£000 £000
INCOME FROM:
Donations 2 1,750 400 2,150 1,831
Charitable activities:
Publications and
subscriptions 43 43 93
Special events 3 3 75
Other trading activities 30 30 28
CJRS Income 93 93
Investments:
Dividends receivable 23 23 34
Interest receivable I 4
TOTAL 1,919 400 24 2,343 2,065
EXPENDITURE ON:
Raising Funds:
Fundraising and subscriber
support 367 367 340
Charitable activities:
Academic programme:
Research and Publications 814 113 927 948
Student/Teacher outreach 219 161 380 514
Special Events 83 83 93
Communications 566 5 571 563
TOTAL 3 2,049 279 2,328 2,458
Net Gains on Investments:
Realised gains on disposals 13 13 36
Unrealised gains 22 22 197
NET(EXPENDITURE)/
INCOME 4 (130) 121 59 50 (160)
Transfers between funds 241 (241)
NET MOVEMENT IN
FUNDS III 121 (182) 50 (160)
RECONCILIA TION OF
FUNDS:
TOTAL FUNDS BROUGHT 11,12,
FORWARD 13,14 762 120 2,094 2,976 3,136
TOT AL FUNDS CARRIED 11,12,
FORWARD 13,14 873 241 1,912 3,026 2,976
=
Notes 31March 31December
2021 2019
£000 £000
FIXEDASSETS
Tangibleassets 7 551 568
Investments 8 1,889 2,027
2,440 2,595
CURRENT ASSETS
Debtors 9 108 308
Cashat bank andinhand 660 383
768 691
CREDITORS:Amountsfallingdue within oneyear ID (182) (310)
NET CURRENTASSETS 586 381
NETASSETS 3,026 2,976
THEFUNDSOFTHECHARITY:
Endowment fund 11,14 1,912 2,094
Restricted funds 12,14 241 120
Unrestricted funds 13,14 873 762
TOTAL FUNDS 14 3,026 2,976
2021 2019
ISmonths 12months
£000 £000
Net cash generatedfrom/(used in) operating activities (A) 86 (214)
Cash flows from investing activities:
Dividends and interest 24 38
Proceeds from saleofinvestments 550 491
Purchaseofinvestments (377) (185)
Purchaseoffixed assets (6)
Netcashprovided by investing activities 191 344
Changeincash and cash equivalentsinthe period (B) 277 130
Cash and cash equivalents at1January 383 253
Cash and cash equivalents at31March 2021(31December
2019) 660 383
(A)
RECONCILIA TION OF NETINCOME/(EXPENDITURE)
TO NET CASH USED IN OPERATIONS:
Netincome/(expenditure) for the reporting period (as per the
statementoffinancial activities) 50 (160)
Adjustments for:
Depreciation charges 23 19
Gains on investments (35) (233)
Dividends and interest (24) (38)
Decreaseindebtors 200 217
Decreaseincreditors (128) (19)
Net cash generated from/(usedin)operating activities 86 (214)
(B)
ANAL YS1S OF CHANGES IN NET DEBT
Cash at bank and in hand at1January 383 253
Cash flow 277 130
Cash at bank and in hand at31March 2021 (31 December
2019) 660 383

Unrestricted Restricted Endowment Total
funds funds fund 2019
Notes £000 £000 £000 £000
INCOMEFROM:
Donations 2 1,458 373 1,831
CharitableActivities:
Publicationsand
Subscriptions 93 93
Specialevents 75 75
Othertradingactivities 28 28
Investments:
Dividendsreceivable 33 34
Interestreceivable 3 4
TOTAL 1,654 375 36 2,065
EXPENDITUREON:
RaisingFunds:
Fundraising andsubscriber
support 340 340
Charitable activities:
Academicprogramme:
Research andPublications 647 301 948
StudentITeacher outreach 379 135 514
SpecialEvents 93 93
Communications 453 110 563
TOTAL 3 1,912 546 2,458
Net GainsonInvestments:
Realisedgainsondisposals 20 16 36
Unrealised(Iosses)/gains (14) 211 197
NET(EXPENDITURE)/INCOME 4 (258) (165) 263 (160)
Transfersbetween funds 200 (200)
NETMOVEMENT IN FUNDS (58) (165) 63 (160)
RECONCILIA TION OF FUNDS:
TOTAL FUNDS BROUGHT 11,12
FORWARD 13,14 820 285 2,031 3,136
TOT AL FUNDSCARRIED 11,12
FORWARD 13,14 762 120 2,094 2,976
=
2 DONATIONS 31March31December 31March31December
2021 2019
(i5months) (12months)
£000 £000
Foundations,corporate andindividuals
Restricted 400 373
Unrestricted 1,750 1,458
2,150 1,831
3 ALLOCATION OF COSTS 2021(15months) Direct
Support
2021
costs
costs		 Total
£000
£000		 £000
Fundraising and subscriber support 15
352
367
Research and Publications 120
807
927
Student/Teacher Outreach 48
332
380
Special Events 83
83
Communications 73
498
571
256
2,072
2,328
--
ALLOCATION OF SUPPORT COSTS 2021 (I5 months)
Personnel costs 1,852
Office costs 143
Property costs 70
Travel costs 7
2,072
Support costs have been allocated asfollows:
Support Personnel
costs costs
Fundraising and subscriber support 17% 17%
Publications 39% 39%
Student/Teacher Outreach 16% 16%
Special Events 4% 4%
Communications 24% 24%
_Direct _ Support 2019
3 ALLOCATION OF COSTS2019 (12months) _costs _ _costs _ _Total _
£000 _£000 _ _£000 _
_Fundraising and subscribersupport _ 39 _301 _ _340 _
_Research andPublications _ 226 722 948
_Student/Teacher Outreach _ 163 351 514
_SpecialEvents _ 21 72 93
_Communications _ 136 427 563
---
585 1,873 2,458
---
ALLOCATION OFSUPPORTCOSTS2019(12months)
_Personnelcosts _ 1,587
Officecosts 196
_Property costs _ _80 _
Travel costs ID
1,873
_Support costs havebeenallocated as follows: _ Support Personnel
_costs _ _costs _
Fundraising andsubscriber support 11% 17%
_Research andPublications _ 36% 39%
_Student/TeacherOutreach _ 34% 16%
_SpecialEvents _ 3% 4%
_Communications _ 16% 24%
4 NETEXPENDITURE 31March 31December
2021 2019
(15months) (12months)
£000 £000
Netexpenditure for the periodisstated after charging:
Depreciation-charge for period 23 19
Auditor'sremuneration 19 15
Legalfees 22
Operatingleaserentals-plant and machinery 16 Il
6 EMPLOYEES 31March 31December
2021 2019
(15 months) (12 months)
No. No.
The average monthly numberofpersons employed by the
Institute during the period was:
Office and management 20 19
31March 31December
2021 2019
(15 months) (12 months)
£000 £000
Staff costs for abovepersons:
Wages and salaries, including benefits 1,294 1,031
Social security costs 143 104
Other pension costs 90 41
1,527 1,176
The numberofemployees whoseemoluments as defined for 31March 31December
taxation purposes amounted to over£60,000 in the15month 2021 2019
period was asfollows: (15 months) (12 months)
No. No.
£60,00I-£70,000 3 2
£70,00I-£80,000
£90,001-£100,000 3
£120,00l-£130,000
£180,00I-£190,000
£190,00I-£200,000

TANGIBLE FIXED ASSETS
Freehold Office
property equipment Total
£000 £000 £000
Cost
lJanuary 2020 965 3 968
Additionsinperiod 6 6
3IMarch2021 965 9 974
Depreciation
IJanuary 2020 397 3 400
Charged for period 22 23
3IMarch 2021 419 4 423
Net book value
31March2021 546 5 551
3lDecember 2019 568 568

Open-end Cash held
funds on deposit Total
£000 £000 £000
Market value at
1January 2020 1,525 502 2,027
Additions 77 300 377
Disposals (500) (50) (550)
Unrealised gains 35 35
Marketvalue at3IMarch 2021 1,137 752 1,889
--
Historical cost at31March 2021 986 752 1,738
Historicalcost at31December 2019 1,396 502 1,898
=
9 DEBTORS 31March 31December
2021 2019
(15 months) (12 months)
£000 £000
Trade debtors 58 137
Taxation recoverable 3
Other debtors 4
Prepayments and accrued income 50 164
108 308
lO CREDITORS: Amounts falling due within one year 31March 31December
2021 2019
(15 months) (12 months)
£000 £000
Trade creditors 18 113
Taxation and social security 33 36
Other creditors 23 6
Accruals and deferred income 108 155
182 310
31March 31December
2021 2019
(15months) (12months)
£000 £000
Deferred income atl January 2020 108 2
Released to StatementofFinancial Activities in period (108) (2)
Deferredinperiod I 108
Deferred income at3 lMarch2021 108
XPENDABLE ENDOWMENT FUND
At Transfers At
1January lnvestment between Investment
31March
2020 Income funds Gains
2021
£000 £000 £000 £000
£000
Ralph Harris Fund 2,094 24 (241) 35
1,912

At1 At31
January 2020 Income Expenditure March 2021
£000 £000 £000 £000
Events and Publications 7 61 (68)
Richard Koch Breakthrough Prize 55 (15) 40
Roof Restoration Fund 34 34
Cultural Affairs Unit 55 55
Student Outreach and Opportunity 22 (16) 6
European Network 55 (50) 5
Think Tent 2 (2)
Vinson Centre at theUniversityof
Buckingham 116 (95) 21
MFund 113 (33) 80
120 400 (279) 241

AtI At31
January March
2020 Income Expenditure Transfers 2021
£000 £000 £000 £000 £000
Designated Funds
FixedAsset Fund 568 (22) 546
Major Building Works Fund 170 170
Designated unrestricted funds 568 148 716
Unrestricted general funds 194 1,919 (2,049) 93 157
762 1,919 (2,049) 241 873

Designated General Restricted Endowment Total
Funds Funds funds fund funds
£000 £000 £000 £000 £000
Fund balances at31March
2021 are represented by:
Tangible fixed assets 546 5 551
Investments 1,889 1,889
Current assets 170 334 241 23 768
Current liabilities (182) (182)
Total net assets 716 157 241 1,912 3,026
=

The total future minimum lease payments, at the reportingdate, 31March 31December
under non-cancellable operating leases are asfollows: 2021 2019
(15 months) (12 months)
£000 £000
Amounts due:
within one year II I I
between one and five years 27 21
19 FINANCIAL INSTRUMENTS 31March 31December
2021 2019
(15 months) (12 months)
£000 £000
Financial Assets, at fair value:
Investments held as fixed assets 1,889 2,027