## SOCIETY OF GLASS TECHNOLOGY 

ANNUAL REPORT OF THE COUNCIL 

FOR THE YEAR ENDED 

## 31 DECEMBER 2023 


9 Churchill Way Chapeltown, Sheffield S35 2PY Registered Charity Number 237 438 



## **HONORARY SECRETARY'S REVIEW OF 2023** 

The Society has continued in its objectives during 2023 through the hard work of its members and staff, and this is a brief interim update. 

As members of the Council will know, the Society’s awards are a way of recognising excellence in a glass associated field and are awarded to people across the career spectrum, from Undergraduate project reports (The Oldfield Award) to Early Career research (SGT- Sir Alistair Pilkington award) 

The winners of awards for 2023 were reported at the previous council meeting.  Advertising for the SGT- Sir Alistair Pilkington award 2024 is being launched this month and entries for the Oldfield award are currently being sought. Both have summer deadlines. 

Currently, work is being carried out to prepare for Furnace Solutions and the SGT annual conference. This year, the latter will be combined with the 15[th] European Society of Glass Conference and the 15[th] International Conference on the Structure of Non-Crystalline Materials held from the 15th-19[th] July 2024 at Churchill College, Cambridge, UK. The David Martlew and Paul awards will be awarded during this meeting. 

Details of all the SGT awards can be found on our website. 

The Society’s Technical Committees have continued to work hard over the last year and individual reviews prepared by committee chairs can be found later in the Annual Report. 

Finally, a huge thank you to all our members for their contributions to the Society during the year and to our Staff who work diligently behind the scenes. 

Emma Barney Honorary Secretary 

## **FINANCIAL REVIEW** 

We were expecting to be running a deficit by this time, but thanks to two good meetings and the contributions from AGC we currently have a surplus (note that only a proportion of the £60k from AGC is included in the above figures. The remainder is deferred payments).  Journal subscriptions are ahead of expectations, while membership, investment, and miscellaneous income, excluding the contribution from AGC, are close to budget. The only expected major income from now to the end of the year will be from the sales of certified samples but expenditure still to come includes salaries, journal printing and dispatch, and rent, so we will end the year with a deficit, but much smaller than we were anticipating. 

Journal subscription has declined from 55% of our income, excluding meetings, to about 44% over the past six years. Though the above figures look healthy they hide the fact that we set a low expectation and, unless we get additional sales here before the end of the year, they will have declined again. 

Our expenditure remains under good control, but a healthier, reliable income stream is still needed. 

## **PUBLICATIONS** 

_Glass Technology_ , Part A and _Physics and Chemistry of Glasses_ Part B of the _European Journal of Glass Science and Technology_ each appeared six times, electronically, in 2023. We kept with the existing printer through the year but staff departures, possible liquidation and redundancies before the end of the year mean a new ink on paper supplier will be needed in 2024. Peer review submissions have been steady, the Physics of Non-Crystalline Solids conference providing good numbers. All issues were a minimum of 32 pages with much of Part B being made up of peer reviewed content. _Glass Technology_ had more original content and there is plenty of news. A lot of editorial content has been sourced from the office staff. The SGT website allows members to view full electronic issues rather than just the individual articles on IngentaConnect. 

The online peer review system, Editorial Manager provided the support for the panel of editors to work hard to get submissions quickly through to a decision. The same rigorous peer review is applied to all submissions to maintain high quality. The purchase of the service by Elsevier is being monitored. 



Professor Alastair Cormack is the senior editor of the _European Journal of Glass Science and Technology_ overseeing both _Part B_ and _Part A_ . In addition there are the regional editors: Professor Christian Roos (Germany), Professor Alicia Duran (Spain), Professor Russell Hand, Dr Alex Hannon (UK), Professor Marek Liska (Slovak Republic), Professor John Parker (UK), Professor L. Wondraczek (Germany) and Professor Yuanzheng Yue (Denmark). The DGG left the European Journal publishing partnership at end of 2023 so we lose the regional editors from Germany, their service is gratefully acknowledged. Professor Jonson has also retired from the regional editor panel, we thank him for his contributions. 

Sara Lindley oversees the running of the Editorial Manager online submission and peer review system, she takes manuscripts from acceptance to pre-proofing where they are finished by David Moore, managing editor. Other editorial content is sourced by Mr Moore. 

The SGT Annual Conference programme and abstracts was produced by Mr Moore from material supplied by Dr Hannon. 

Both members of the editorial team continue with reduced their hours to cut down on journal overheads. Members and journal subscribers can still access journal content on the internet through IngentaConnect. Pay-perview fees from Ingenta has brought income for the Society as have copyright royalties from the UK Publisher’s Licensing Society and the US Copyright Clearance Center and rights offerings through EBSCO. News pages are available to see for free on the Ingenta platform, social media is used to promote page views. LinkedIn has seen the best growth, Twitter/X is now only used for promoting activities. 

The content of the _Journal of the Society of Glass Technology_ has been digitised and can be viewed on the SGT store. Transaction papers will generate income as pay-per-view, the Proceedings and News are available for free. Digital archive versions of _Glass Technology_ and _Physics and Chemistry of Glasses_ from 1960–1997 are available on request. Print on demand versions of the Society’s books are being tailored for distribution across many retail platforms by Lightning Source. This process is not complete. David Moore 

## **REPORTS FROM THE TECHNICAL COMMITTEES** 

## **Basic Science and Technology Committee** 

The SGT Annual Conference was held in 2019, and then there was a hiatus due to the Covid19 pandemic. It resumed in 2023, when it was held at Murray-Edwards College in Cambridge on 4-6 September. A record number of 125 delegates participated, and there were 96 presentations. The meeting included a memorial session in honour of Professor Adrian Wright, a former SGT President who sadly passed away during 2023. His children, Alice and Mark, attended this day of the meeting, and an evening reception in his honour. Arun Varshneya’s theme of Sustainability contributed to the success of the 2023 Annual Conference. He also introduced the NL Varshneya Memorial Lecture at the Annual Conference, which was given by Erik Muijsenberg of Glass Service Ltd, Czechia. 

## **Sustainable Melting Technical Report** 

2023 conference was very well attended and we are looking to build on that again for this year. Currently venue bookings are made and details are being finalised on the website. 

We are seeking a good balance between glass manufacturers, suppliers to the industry and regulatory bodies. It is intended to incorporate one or more open discussion sessions to draw in audience participation as this went down very well last year.  Of the potential 14 timeslots we have 10 filled so far and are talking to other possible contributors for the remainder. 

The next committee meeting is due to take place on the 12[th] February where we will review status, also to look into a training day prior to the conference. We have dismissed webinar training sessions for this year, this is expensive to set up because we no longer have experience on the committee to cover ourselves. 

from  after a worrying slow start for registrations. The conference was the first at this venue and was generally very well received by all attendees. Some of the slots encouraged interactive discussion rather than just all papers which was especially well received and gives something to build on for the future. It was pleasing to attract speakers from producers such as Sisecam and Ardagh Glass amongst many others. 

The committee are looking to run a series of short virtual training sessions early next year. 

The most recent committee meeting saw Kevin Rivers elected as the new chair of the MTC. Also next years “Furnace Solutions” conference was discussed and planning is now commencing for it to take place again in St Helens in on its traditional date in early June. This venue allows for a higher number of delegates and gives us the scope to build on this year’s conference. 



## **Yorkshire Section** 

The dinner dance was a success with 186 in attendance, fourteen companies attended plus two tables for independent guests, our president designate Prof Angela Seddon attended in place of our President. Plans for 2024 are in progress. 

**Analysis of Journal Contents by number of  pages** (and number of particular item) 

||**2022**|**2023**|
|---|---|---|
|**_Glass Technology_**|||
|Proceedings/Features|0(0)|0(0)|
|News from the|||
|marketplace|105|85|
|Conference Diary|17|15|
|Papers|66(8)|77(8)|
|Communications|0|0|
|Book Reviews|0|0|
|Index|1|1|
|Obituaries|0|0|



## _**Physics and Chemistry of Glasses**_ 

|Papers|167(16)|140(13)|
|---|---|---|
|Conference Diary|12|<br>17|
|News|7|<br>20|
|Book Reviews|0|<br>0|
|Index|1|<br>1|
|Communications|0|<br>0|
|Obituaries|0|<br>1|
|Editorial|0|<br>0|
|Journal Sales|||
|Glass Technology|||
|Physics & Chemistry|||
|of Glasses|||





|**Monograph sales**|**2023**|**2022**|
|---|---|---|
|Glass Furnaces Design,Construction  & Operation|17|2|
|Coloured Glasses|11|0|
|Stones and Cords in Glass|1|1|
|ESG Proceedings(Fundamentals of the Glass|||
|ManufacturingProcess)|||
|Topical Issues in Glass,Volume 1|||
|Refractories in the Glass Industry|||
|Raw Materials for Glass Melting||7|
|Basic Optical Stress Measurement inglasses|2||
|Ceramics and Glass: A Basic Technology -<br>Paperback||6|
|The Window Glass Makers of Saint  Helens|1|1|
|PractisingStained Glass Safely|1||
|Borates Proceedings 2|||
|Borates Proceedings 3|||
|The Art of Glass|3||
||||
|Bosc D'Antic Book on Glass Making||1|
|Glass Blowing|||
|Old English Glass Houses|||
|Early 19th Century Glass Technology in Austria &<br>Germany||1|
|Glass to Metal<br>seals|2|3|
|Bontemps  onglass making|||
|Chemical Technologyof Glass Zschimmer||3|
|Constitution ofglass|||
|Glass Bottle Machines|||
|STIGG (Science Technology of Inorganic Glasses<br>and Glass-Ceramics)|2||
|Glass Manufacture Rosenhain|||
|The Historyof the Chance Brothers & Co(M Cable)|1||



## **LIST OF OFFICERS, COUNCIL, ADMINISTRATIVE, TECHNICAL AND SECTION COMMITTEES FOR THE YEAR 2023** 

## **PRESIDENT** 

Arun Kumar Varshneya 

## **HONORARY TREASURER** 

Alan Stephens 

## **HONORARY SECRETARY** 

Emma Barney 

## **VICE PRESIDENTS** 

Julian Jones 

**PAST PRESIDENTS** 

Stuart Hakes Bill Brookes Russell Hand Roger Penlington Brian Mcmillan 

## **MANAGING EDITOR** 

D. Moore Bsc (Eng) 

## **EDITOR IN CHIEF AND CHAIR OF PUBLICATIONS COMMITTEE** 

Alastair Cormack 



**OFFICE MANAGER** 

Christine Brown 

## **ADMINISTRATION STAFF** 

Sara Lindley Lisa Tyers 

## **AUDITORS** 

Hawson’s, Sheffield 

## **BOARD OF FELLOWS** 

Oliver Alderman Emma Barney Paul Bingham Bill Brookes Christine Brown Jamieson Christie Alastair Cormack Alex Hannon Nicola Johnson Doris Moencke Roger Penlington Andrew Reynolds Kathleen Richardson Arun Kumar Varshneya Trevor Wilson 

## **NORTH AMERICAN SECTION** 

Kathleen Richardson 

## **YORKSHIRE SECTION** 

Mark Brew Christine Brown Ian Robertson 

## **STEERING COMMITTEE** 

Emma Barney Paul Bingham Bill Brookes Christine Brown Stuart Hakes Russell Hand Alex Hannon Guglielmo Macrelli Brian Mcmillan David Moore John Parker 



|Roger|Penlington|
|---|---|
|J Alan|Reynolds|
|Angela|Seddon|
|Alan|Stephens|
|Arun Kumar|Varshneya|
|Margaret|West|



## **ANALYSIS & PROPERTIES COMMITTEE** 

|Karen||Allright|
|---|---|---|
|Faye||Bazzali|
|Anthony||Bell|
|David||Beryl|
|Bill||Brookes|
|Christine||Brown|
|Daniel||Capon|
|Matthew||Demmon|
|Stuart||Hakes|
|Helen||Hamaekers|
|Mark||Ingram|
|Burak|Emin|İzmirlioğlu|
|Stuart||Jamieson|
|Nicola||Johnson|
|Stephen||Jones|
|Simon||Lloyd|
|Nick||Marsh|
|Tracy||Marston|
|Amy||Meysner|
|David||Millington|
|Robert||Moorehead|
|J Alan||Reynolds|
|Angela||Seddon|
|Arun Kumar||Varshneya|
|Margaret||West|



## **BASIC SCIENCE & TECHNOLOGY COMMITTEE** 

|Emma|Barney|
|---|---|
|Paul|Bingham|
|Marc|Brew|
|Bill|Brookes|
|Christine|Brown|
|Alastair|Cormack|
|Stuart|Hakes|
|Russell|Hand|
|Alex|Hannon|
|John|Henderson|





|Brian|Mcmillan|
|---|---|
|David|Moore|
|John|Osborn|
|John|Parker|
|Roger|Penlington|
|Richard|Pont|
|Andrew|Reynolds|
|J  Alan|Reynolds|
|Kathleen|Richardson|
|Ian|Robertson|
|Angela|Seddon|
|Iain|Shoveller|
|Alan|Stephens|
|Arun Kumar|Varshneya|
|Margaret|West|



## **SUSTAINABLE MELTING - TECHNOLOGY COMMITTEE** 

|Özgür||Acar|
|---|---|---|
|John||Allan|
|Daniel||Backhouse|
|Christine||Brown|
|Matthew||Demmon|
|Fatih||Guclu|
|Stuart||Hakes|
|Nicola||Johnson|
|Nigel||Longshaw|
|Martyn||Marshall|
|David||Millington|
|Simon||Parkinson|
|William||Perry|
|Richard||Pont|
|Mark||Pudner|
|J|Alan|Reynolds|
|Kevin||Rivers|
|Ian|David|Robertson|
|Iain||Shoveller|
|Ilkay||Sokmen|
|Alan||Stephens|
|Jan||Theron|
|Tolga||Uysal|
|Arun Kumar||Varshneya|
|Peter||West|
|Steve||Whettingsteel|
|Christopher||Windle|
|Liam||Wray|





## **Society of Glass Technology** 

**Report and Financial Statements** 

**Year ended 31 December 2023** 

**Registered Charity Number:   237438** 



## **Society of Glass Technology** 

## **Year ended 31 December 2023** 

|**Contents**|**Page**|
|---|---|
|Charity Reference and Administration Details|1|
|Report of the Council|2 -3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 -12|





**Society of Glass Technology** 

## **Year ended 31 December 2023** 

## **Charity Reference and Administrative Details** 

## **Charity Registration Number** 

**Charity Registration Number** 237438 **Officers and Council Members** Dr E Barney * Dr R Penlington - Past President Professor P Bingham R Pont M Brew A M Reynolds W L Brookes - Past President J A Reynolds A Cormack Dr K A Richardson Dr R J Hand - Past President I Robertson A Hannon A Seddon S Hakes *- Past President I Shoveller J Henderson * Past President A Stephens *- Honorary Treasurer B McMillan - Past President H M West - Past President J Osborn Professor A Varshneya * - President Professor J M Parker - Vice President 

* Trustee 

|**Principal Office**|9 Churchill Way|
|---|---|
||Chapeltown|
||Sheffield|
||S35 2PY|
|**Independent Examiners**|Hawsons Limited|
||Chartered Accountants|
||Pegasus House|
||463a Glossop Road|
||Sheffield|
||S10 2QD|
|**Bankers**|Barclays Bank plc|
||PO Box 493|
||Sir Frank Whittle Road|
||Derby|
||DE1 9UU|
|**Solicitors**|Knights plc|
||Commercial House|
||Commercial Street|
||Sheffield|
||S1 2AT|
|**Investment Advisers**|Walker Crips|
||Old Change House|
||128 Queen Victoria Street|
||London|
||EC4V 4BJ|



1 



**Society of Glass Technology** 

## **Report of the Council for the year ended 31 December 2023** 

The Council Members present their Report and the Financial Statements for the year ended 31 December 2023. The Council Members have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the report and financial statements of the charity. 

## **Objectives and Activities** 

The Society was founded to advance the study of glass technology through the publication of books and journals, the forming and maintaining of a library, to be the organising body of meetings, conferences and exhibitions and to collaborate with other organisations in the pursuit of any common objectives.  To do this it:- 

- publishes bi-monthly journals _Glass Technology_ and _Physics and Chemistry of Glasses_ 

- issues various other publications from time to time 

- organises conferences, meetings and workshops 

- purchases books and periodicals for the library 

## **Public Benefit** 

In planning the activities for the year the Council Members have kept in mind the Charity Commission's guidance on public benefit. The focus of the activities is the production of journals and the organisation of meetings to ensure that the public benefit from any updates in glass technology and to encourage young people into the industry so that valuable skills are not lost. 

## **Achievements and Performance** 

2023 has seen an increase in journal subscriptions and membership. Copyright royalties continue to help generate income for the journals Sale of publications increased for 2023.  We had two successful face to face conferences which generated funds for the Society. we have also had support from two major Glass Companies which has contributed significant levels of sponsorship income for the current year and for the next five years. Expenditure has been kept under control, and the new committees have created further awareness of the Society, which in turn saw a rise in membership numbers . The Council members also continue to examine the operational risks which the Society faces and have systems to monitor and control these risks so that necessary steps can be taken if required. 

## **Financial Review** 

Total income for the year was £253,824 (2022: £252,980) an increase of £844. Total expenditure for the year was £254,595 (2022: £246,150) an increase of £8,445. 

The net loss on the disposal and revaluation of investments totalled £16,301 (2022: net loss £44,886). Overall the results show a net expenditure for the year of £17,072 (2022: net expenditure £38,056). 

2 



## **Society of Glass Technology** 

## **Report of the Council for the year ended 31 December 2023** 

There are no restrictions on the Society's power to invest.  The investment strategy is set within an overall policy that funds are invested in low and moderate risk investments, with a view to seeking capital appreciation of the funds, together with income sufficient to support expenditure on direct and support costs. 

## **Reserves Policy** 

The Council members aim to maintain a minimum level of reserves which are equivalent to six months average expenditure. At the balance sheet date the level of reserves, after the deduction of amounts held as fixed assets, amounted to £276,065 (2022: £293,018). Where possible surplus funds not required for the day to day running of the Society are held in fixed asset investments with the aim of generating investment income which is a vital contribution to enable the Society to meet its annual expenditure on management, administration and support costs. 

The Council members are aware that the current level of reserves are in excess of the level indicated by the Reserves Policy and consider that these reserves will safeguard the society during years when no international meetings are hosted by the Society. 

## **Structure Governance and Management** 

The Society of Glass Technology operates under Rules and Regulations which constitute its governing document. 

In accordance with Rule 18 of the governing document, the Council shall consist of the President, President-Designate when appropriate, five Past Presidents, being those most recently retired from the office of President and who are willing to serve, up to six Vice-Presidents, the Honorary Secretary, the Honorary Treasurer and up to fifteen Councillors, together with, as ex officio members, the Chairman of the Board of Fellows, and such Presidents of Overseas Sections and Chairmen of Executive Committees of Local Sections and of Technical Committees as are not already members of the Council. No person shall serve on Council unless they are a Fellow or Member of the Society. All Past Presidents not members of the Council shall be entitled to receive all Council papers as though they were members of Council. 

Under Rule 28, the President shall hold office for one year, but shall be eligible for re-election for a further consecutive year.  The Honorary Secretary and Honorary Treasurer may each hold office for five years and shall be eligible for re-election. 

Each year group of Vice-Presidents and Councillors shall retire annually and shall not be eligible for reelection to the same office until after an interval of one year, and a Vice-President shall not after retirement be eligible for re-election as a Councillor until after an interval of one year. 

The Council Members who have served during the year and since the year end are set out on page 1. The Council Members meet half yearly, but a Steering Committee, which meets at least four times a year, handles the main business affairs of the Society, and accounts for its actions to the Council meetings. The Steering Committee is also responsible for supervising the activities of the Standing Committees, which cover finance, technical and corporate activities, membership interests and professional issues. 

Approved by the Council on 20 March 2024 


**A Stephens** Honorary Treasurer 

3 



## **Independent Examiner's Report to the Trustees of** 

## **Society of Glass Technology** 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 5 to 12. 

## **Responsibilities and basis of report** 

As the charity's trustees 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 charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales. 

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 charity 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 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. 


## **Simon Bladen FCA** 

Hawsons Limited Chartered Accountants Pegasus House 463a Glossop Road Sheffield, S10 2QD 

```
03/27/2024
```

4 



## **Society of Glass Technology** 

## **Statement of Financial Activities** 

|note<br>**Income**<br>Donations<br>- Journal Subscriptions<br>2<br>- Memberships<br>3<br>- Meetings<br>- Local Section Events<br>Other trading activities<br>4<br>Investments<br>5<br>**Total Income**<br>**Expenditure**<br>Charitable activities<br>6<br>Other<br>7<br>**Total Expenditure**<br>Net (losses) on Investments<br>10<br>**Net (Expenditure)**<br>**Net Movement in Funds**<br>Fund Balance brought forward<br>**Fund Balance carried forward**<br>**Year ended 31 December 2023**<br>Charitable activities|**2023**<br>**2022**<br>**£**<br>**£**<br>513<br>3,030<br>56,097<br>49,904<br>28,492<br>24,512<br>108,703<br>134,206<br>9,665<br>11,558<br>33,173<br>14,284<br>17,181<br>15,486<br>253,824<br>252,980<br>195,259<br>200,443<br>59,336<br>45,707<br>254,595<br>246,150<br>(16,301)<br>(44,886)<br>(17,072)<br>(38,056)<br>(17,072)<br>(38,056)<br>300,141<br>338,197<br>283,069<br>300,141|
|---|---|



All income and  expenditure derive from continuing activities. 

5 



## **Society of Glass Technology** 

## **Balance Sheet at 31 December 2023** 

|**Fixed Assets**<br>Intangible<br>9<br>Tangible<br>9<br>Investments<br>10<br>**Current Assets**<br>Stock<br>Debtors<br>11<br>Cash at Bank and in Hand<br>**Creditors:**amounts falling due within one year<br>12<br>**Net Current Assets**<br>**Total assets less current liabilities**<br>**Creditors:**amounts falling due after more than one year<br>12<br>**Net Assets**<br>**The Funds of the Charity**<br>Unrestricted Funds<br>13<br>note|**2023**<br>**2022**<br>**£**<br>**£**<br>857<br>1,717<br>6,147<br>5,406<br>260,678<br>279,306<br>267,682<br>286,429<br>2,335<br>2,555<br>21,436<br>26,006<br>188,776<br>91,924<br>212,547<br>120,485<br>(191,493)<br>(97,107)<br>21,054<br>23,378<br>288,736<br>309,807<br>(5,667)<br>(9,666)<br>283,069<br>300,141<br>283,069<br>300,141|
|---|---|



Approved by the Council on 20 March 2024 


## **A Stephens** 


## **S Hakes** 

6 



**Society of Glass Technology** 

## **Notes to the Financial Statements for the Year Ended 31 December 2023** 

## 1 **Accounting Policies** 

## (a) **Basis of Preparation** 

The Financial Statements are prepared under the historical cost convention, as modified by the inclusion of investments at fair value. The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. 

## (b) **Going Concern** 

After due consideration of all relevant factors, the Council members have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the report and accounts. 

## (c) **Fund Accounting** 

The General Fund is an unrestricted fund arising on the carrying out of the general activities of the Society. 

## (d) **Income and Expenditure** 

Income is recognised in the period in which the Society is entitled to receipt and the amount can be quantified with reasonable accuracy. Income is deferred only when the Society has to fulfil conditions before becoming entitled to the income. 

Resources expended are included in the Statement of Financial Activities on an accruals basis, and are recognised when there is a legal or constructive obligation to pay for expenditure and have been classified under headings that aggregate all costs relative to the category. 

Charitable expenditure comprises all expenditure directly relating to the charitable objectives. Management and administration costs include a proportion of the salaries of staff for time spent on management and administration matters and an apportionment of establishment expenses calculated on the office space occupied by those staff. 

## (e) **Fixed Assets** 

Depreciation and amortisation have been charged to write off the assets over their estimated useful economic lives at the following annual rates: 

Office Equipment,  Furniture and Fittings 20% on cost Computer Equipment 25% on cost Website Development Costs 20% on cost 

Heritage assets 

Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweighs any benefits to the users of the accounts then heritage assets are not recognised on the balance sheet 

7 



**Society of Glass Technology** 

## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)** 

## 1 **Accounting Policies** - continued 

## (f) **Investments** 

Investments are included in the Balance Sheet at fair value. The fair value of quoted investments has been provided by the Society’s investment advisers. 

The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals during the year. 

The historical cost of investments appears by way of note. 

## (g) **Stock** 

Stock has been valued at the lower of cost and net realisable value after making due allowance for any obsolete or slow-moving items. 

## (h) **Pension Scheme** 

The Society operates a defined Contribution Pension Scheme.  The pension cost charge represents contributions payable by the Society to the Scheme in respect of the year. 

## (i) **Lease Contracts** 

Instalments due under Operating Lease Contracts are charged against the income of the Society during the period when payment is made. 

|2<br>European Journal of Glass Science and Technology<br>Copyright Royalties<br>Back Issues<br>3<br>4<br>**Other trading activities**<br>Sale of Publications<br>Sale of Specimens<br>Royalties<br>Sponsorship<br>Miscellaneous Income<br>- Personal<br>**Journal Subscriptions**<br>Arrears<br>Tax Recoverable<br>Glass Technology<br>Physics and Chemistry of Glasses<br>**Memberships**<br>Current - Corporate|**2023**<br>**2022**<br>**£**<br>**£**<br>15,031<br>14,198<br>20,650<br>17,947<br>1,101<br>696<br>19,142<br>16,374<br>173<br>689<br>56,097<br>49,904<br>4,812<br>3,962<br>19,940<br>19,636<br>24,752<br>23,598<br>2,275<br>387<br>27,027<br>23,985<br>1,465<br>527<br>28,492<br>24,512<br>1,519<br>576<br>3,765<br>1,010<br>10,118<br>9,389<br>12,000<br>-<br>5,771<br>3,309<br>33,173<br>14,284|
|---|---|



8 



## **Society of Glass Technology** 

## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)** 

|5<br>**Investment Income and Interest**<br>Dividends - UK Equities<br>Interest     - UK Fixed Interest Securities<br>- Cash Deposits<br>6<br>Editorial Salaries and National Insurance<br>Other Salaries and National Insurance<br>Pension Scheme Contributions<br>Journal Printing<br>Electronic Publishing<br>Database Hosting<br>Carriage and Despatch of Journals<br>Meetings<br>Establishment Expenses<br>Other office costs<br>Scholarships,  Awards and Prizes<br>Local Sections<br>7<br>Professional Charges<br>Bank Loan interest<br>Incidental Expenses<br>Exchange Losses / (Gains)<br>**Analysis of expenditure on**<br>**charitable activities**<br>Investment  management fees<br>Independent Examiner's Fee<br>**Analysis of other costs**<br>Salaries & National Insurance<br>Pension Scheme Contributions<br>Establishment Expenses<br>Bank & Credit Card Charges|**2023**<br>**2022**<br>**£**<br>**£**<br>15,822<br>14,335<br>513<br>1,128<br>846<br>23<br>17,181<br>15,486<br>51,831<br>50,047<br>23,675<br>18,077<br>8,677<br>5,776<br>4,598<br>4,199<br>8,687<br>8,886<br>3,223<br>3,288<br>512<br>2,041<br>61,007<br>76,500<br>13,492<br>13,808<br>7,743<br>4,692<br>2,040<br>1,790<br>9,774<br>11,339<br>195,259<br>200,443<br>37,139<br>28,381<br>4,418<br>1,861<br>3,582<br>3,666<br>1,750<br>1,650<br>3,750<br>3,300<br>3,869<br>3,323<br>2,187<br>3,496<br>303<br>396<br>970<br>33<br>1,368<br>(399)<br>59,336<br>45,707|
|---|---|



Professional charges relate to fees in respect of accounting and other services payable to the Independent Examiner. 

9 



## **Society of Glass Technology** 

## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)** 

|8<br>Total Staff Costs comprised:<br>Salaries<br>Employers National Insurance<br>Pension Scheme Contributions<br>**Emoluments**|**2023**<br>**2022**<br>**£**<br>**£**<br>107,791<br>93,210<br>4,854<br>3,295<br>13,095<br>7,637<br>125,740<br>104,142|
|---|---|



The average number of employees in the year, calculated on a full time equivalent basis was 3 (2022: 3). 3 employees were members of the defined contribution pension scheme. No employee received remuneration amounting to more than £60,000 in either year. 

The Council Members did not receive any remuneration or have any expenses reimbursed during the year (2022 : £nil). 

The total amount of employee benefits received by key management personnel, which Council considers to comprise the Managing Editor and the Finance and Events Manager, was £94,309 (2022: £78,283). 

|9<br>**Fixed Assets**<br>**Cost**<br>1 January 2023<br>Additions<br>31 December 2023<br>**Amortisation/Depreciation**<br>1 January 2023<br>Charge for the year<br>31 December 2023<br>Net Book Value<br>31 December 2022<br>31 December 2023|**Intangible**<br>**Tangible**<br>Equipment<br>Website<br>Furniture &<br>Fittings<br>**£**<br>**£**<br>4,297<br>10,954<br> -<br>773<br>4,297<br>11,727<br>2,580<br>5,548<br>860<br>32<br>3,440<br>5,580<br>1,717<br>5,406<br>857<br>6,147|
|---|---|



## Heritage Assets 

In addition to the capitalised fixed assets the Society owns certain historic assets. These are irreplaceable originals for which there is no ascertained cost or valuation. These assets have not been capitalised in the Financial Statements. 

10 



## **Society of Glass Technology** 

## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)** 

|||**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
|10|**Fixed Asset Investments**|||
||Valuation|||
||At 1 January|263,350|322,481|
||Additions|19,373|95,532|
||Disposals|(10,000)|(109,777)|
||Realised gains in the Year|152|5,444|
||Unrealised (losses)/gains in the Year|(16,453)|(50,330)|
||At 31 December|256,422|263,350|
||Cash at Bank awaiting investment|4,256|15,956|
|||260,678|279,306|
||Investments at Market Value comprised:|||
||UK Equities|256,422|253,502|
||UK Fixed Interest Securities|-|9,845|
|||256,422|263,347|
||Historical Cost at 31 December|322,476|313,299|
|11|**Debtors**|||
||Trade Debtors|6,269|17,034|
||Other Debtors|15,167|8,972|
|||21,436|26,006|
|12|**Creditors:**amounts falling due within one year|||
||Trade Creditors|5,777|6,392|
||Bank Loan|4,000|4,000|
||Other Creditors|11,873|11,383|
||Accruals|5,088|4,337|
||Deferred Income|164,755|70,995|
|||191,493|97,107|
||Deferred Income comprises subscriptions and other income received in advance.|||
||**Creditors:**amounts falling due after more than one year|||
||Bank Loan|5,667|9,666|



11 



## **Society of Glass Technology** 

## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)** 

## 13 **Unrestricted Funds** 

|**Unrestricted Funds**|||||
|---|---|---|---|---|
|Unrestricted<br>Designated|**Balance at**<br>**01.01.23**<br>**£**<br>269,229<br>30,912|**Income**<br>**£**<br>253,233<br>591|**Expenditure**<br>**£**<br>(254,595)<br>-<br>(254,595)|**Gains /**<br>**Balance at**<br>**(Losses)**<br>**31.12.23**<br>**£**<br>**£**<br>(16,043)<br>251,824<br>(258)<br>31,245<br>(16,301)<br>283,069|
||300,141|253,824|||



The designated fund relates to a gift received to be used for the purpose of funding a continuing biennial series of lectures and student prizes in memory of Michael Cable. 

|Unrestricted<br>Designated|**Balance at**<br>**01.01.22**<br>**£**<br>303,485<br>34,712|**Income**<br>**£**<br>252,111<br>869|**Expenditure**<br>**£**<br>(246,150)<br>-<br>(246,150)|**Gains /**<br>**Balance at**<br>**(Losses)**<br>**31.12.22**<br>**£**<br>**£**<br>(40,217)<br>269,229<br>(4,669)<br>30,912<br>(44,886)<br>300,141|
|---|---|---|---|---|
||338,197|252,980|||



## 14 **Lease Commitments** 

At the balance sheet date the Society had total commitments under non-cancellable operating leases over the remaining term of the lease of £14,769 (2022: £21,719). 

## 15 **Related Party Transactions** 

There were no related party transactions during the year (2022 : £nil). 

12