REGISTERED CHARITY NUMBER: 246707
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
THE BRITISH PHYCOLOGICAL SOCIETY
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
THE BRITISH PHYCOLOGICAL SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The aims as per paragraph 2 of The British Phycological Society constitution (2012) are as follows:
"The aims of the Society shall be to advance research and education by the encouragement and pursuit of all aspects of the study of algae and to publish the results of this research in a journal, and also in other publications which shall from time to time appear desirable, provided that all publications of the Society shall be available to the general public. In furtherance of those aims, but not otherwise, the Society shall also aim to increase public awareness of the importance and applications of algae, and to contribute to public debate on issues involving algae."
In addition, the constitution states that: "All funds acquired by the Society shall be devoted to the aims detailed in paragraph 2 above or to such associated charitable projects as may from time to time further these aims."
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THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
To this end, the BPS has continued to give financial support to activities that promote phycological research, disseminate phycological knowledge at all levels from governmental advice to community projects, by assisting young phycologists to present their findings at scientific meetings nationally and internationally.
In 2022 the 70th BPS Annual meeting was hosted by Swansea University via Gathertown from 4 - 7th January. Our thanks go to local organizers John Griffin and his team.
They had planned a blended, in person conference but had the last moment due to the upsurge of the new COVID variant had to convert it totally to an online conference and the used the online platform Gathertown. This produced a very successful meeting where conference members could meet in a virtual conference space. The Manton Prize talks took place throughout the conference and poster session was on evening of the 5th January, with the Manton posters marked. It was also possible to see the posters at any time during the conference. The virtual sessions and poster sessions, algal videos and Hilda Carter Lund displays were all well attended. Congratulations go to Jaz Millar (School of Earth and Ocean Sciences, Cardiff University,) for the best talk: Polar cryoconite associated microbiota is dominated by hemispheric specialist genera) and to James Barrett (Department of Biology, University of York) for the best poster: Dissecting the dynamic carbon-fixing organelle in Ulva. The Irène Manton Prizes are prestigious and highly competitive prizes.
6 students were awarded travel grants, 5 took up the offer and received support of £2,461 to attend this BPS meeting (this was from the Scientific meetings fund (SMF); a further three travel grants, totalling £1,685, were awarded to Early Career Scientists (ECR) to attend the BPS winter meeting.
During the 12-month period there were three rounds to apply for BPS funds where bursaries and other awards enable BPS members including students and early career scientists to develop and present their phycological knowledge both in the UK and abroad.
Last year's report (YE2021) twenty-eight applications were successful, totalling £31,240 of the nominal this included the March funding 2021 which was reported in the YE2021 report. For award from May 2021 to the end of 2021 the funding allocation of that total was £31,190. (The November 2021 awards totalled £2,461 to 7 students which were bursaries from SMF (Scientific meeting fund to attend the BPS winter meeting - many of these awards had to divided into two awards. The original awards were for an in-person presence at the BPS winter meeting, but it became an online meeting due to COVID. Many of those awards had the remaining funds has been held over for the recipient to be able to use for the next BPS winter meeting.) In 2022 there were five awards in the February awards round totalled £7175. The February 2022 awards were for travel bursaries, students to attend Algae identification courses and student summer internships, including one linked to Citizen Science.
The special project, an open-access educational and research resource titled A Diatom Flora of Britain and Ireland continued its work and £4,000 was allocated to YE 2021. Other specialist one off costs include the purchase of BPS laptop to be use by BPS treasurer. The laptop and the Microscopes, purchased in YE2021 will be added to the assets list. The BPS had previously agreed in addition to the remaining costs to publish Brown Seaweed Flora (£4,500), more work was involved than originally budgeted and the BPS has agreed to fund a further £3,750 to enable the work to be completed and published.
The Society journal, European Journal of Phycology (EJP) continued to have a productive year, with 4 issues and 504 pages produced as part of Volume 56. There were 116 new submissions from 33 countries. The impact factor of the EJP continues to increase, to its highest level, the journal IF for 2020 was 2.804. Ranking EJP ranking 80/235 (Plant Sciences) and 25/110 (Marine & Freshwater Biology). Christine Maggs and Juliet Brodie have continued as joint Editors in Chief. Kate Schoenrock-Rossiter has continued in her role of Editorial Assistant to EJP and AP.
The BPS investment in Journal, Applied Phycology has now been functioning for three full years. The editorial team continues as John Beardall as Editor in Chief with Juliet Brodie and Chris Maggs (Managing Editors), supported by Kate Schoenrock-Rossiter as Editorial Assistant. There has been a great deal of problems with just about every aspect of the publication process for Applied Phycology, Covid was an issue both for the Editorial Team but articularly for production. Two new special issues are being published, one on SDGs led by John Beardall, and one guest edited by Richard Dorrell on global perspectives of the molecular ecology of algae. There were 42 submissions in 2021, with 6 published. There was a virtual Journal management board meeting held in Summer 2021 chaired by Graham Underwood.
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THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
FINANCIAL REVIEW
Financial position
A full statement of financial activities of The British Phycological Society for the year ending 30th March 2021 are presented in addition to this annual trustees' report. The financial statement has been prepared by Dr. Nicky JD Slee and independently examined by the Independent Examiner.
BPS income for the 12-month period YE 30th March 2022 was £87,784.15 with the majority coming from the Society's journal profit share from publishers Taylor and Francis £74,684.19. In addition, net income from subscriptions from members made up £13,086.38 of this total. The remainder of the income came from interest on deposits held £13.58.
Total Society expenditure for the 12-month period YE 31st March 2022 is £70,639.53; this amount can be allocated to four categories which included: Expenditure: 1. Charitable activities: £41,687.20. Expenditure: Other £18,503.84. Expenditure: Support costs £90.00 and 4. Expenditure: Governance Costs £8,874.49.
Expenditures on Charitable activities included Grants, studentships award £41,687.20; see some specific details in Achievements and Performance above), for Specialist costs (one-offs to be added to the assets list ) £1,484 and sponsorship, diatom group and winter meeting (£6,074.21).
The Expenditure: Other includes Publication expenditure, and the Meetings and Committee expenses.
The total publication expenditures for the 12-month period are: £18,503.84 which includes T&F production costs for YE2022 was £4,240.00. BPS expenditure costs can be further broken down into editorial (£12,000), management meetings (0 - online meetings), publication, and distribution costs. In addition, the Society newsletter, The Phycologist, production, and distribution costs for the 12 months were £1,787.38. Meetings and Committee expenses during the 12 months were £476.46, most meetings were mainly online again so lower than previous years, this again was due to restrictions imposed by COVID-19, the costs were for council and committee members to attend council and committee meetings.
The total for the fourth category Expenditure Governance Costs for the 12-month period is £8,874.49: which includes website maintenance, public liability insurance subscriptions to other learned societies, executive honoraria, professional charges and bank charges. Honoraria were awarded to the following council members: Membership Secretary, Secretary, Webmaster and the Editor of The Phycologist each received £1,000, the Treasurer received £1,250 and the two Joint Editors of EJP (each received £1,500).
Net surplus in fund for the BPS in March 2022 was £16,219. After including funds brought forward (held in reserve as savings) of £233,493 the total Society funds carried forward at the end of financial year 2022 is £249,712.
Therefore, the Society's financial situation remains very healthy, and this has allowed the continued support of a wide range of projects and awards dedicated to algal research. The Society does not currently have a reserves policy in place; however work is in progress to develop one for approval by the trustees for the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The British Phycological Society is an unincorporated association governed by a constitution, last amended in 2019. The constitution states that the membership of the society will be open to 'anyone interested in any aspect of the study of algae' and is managed by a council committee that are elected by ballot of the society members. The BPS council consisted of the following officers in 2022
President Prof. Jane Lewis President Elect Prof. Saul Purton Immediate Past President Prof Jason Hall Spencer Vice President Overseas Professor Line LeGall Secretary Francis Bunker Treasurer Dr Nicky Slee Membership Secretary Dr Hilary Redden Editor (joint) of the European Journal of Phycology Profs. Christine Maggs and Juliet Brodie Editor In Chief of Applied Phycology Prof. John Beardall Webmaster Dr Andrew Davies Student Representative Hannah Thomas Federation of European Phycological Societies (FEPS) Representative Prof. Geoffrey Codd Federation of European Microbiological Societies (FEMS) Representative Dr Anne Jungblut Editor of the Phycologist Dr Amanda Burson
Ordinary members : Dr. Daniel Franklin, Prof Pippa Moore, Dr Suzanne McGowan, Dr. Jo Wilbraham, Dr Jessica Adams, Esther Hughes
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
246707
Principal address
Natural History Museum Cromwell Road London SW7 5BD
Trustees
Prof J Lewis Dr NJD Slee Prof J M Hall-Spencer Prof G J C Underwood (resigned 5.1.22) F Bunker Dr H Redden Prof M Cabral de Oliveira (resigned 5.1.22) Prof S Purton (appointed 5.1.22)
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THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
CONCLUSION
In conclusion, I would like to thank all Council and Society members for their cooperation and support during this extended financial year.
Approved by order of the board of trustees on 25 January 2023 and signed on its behalf by:
Dr NJD Slee - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH PHYCOLOGICAL SOCIETY
Independent examiner's report to the trustees of The British Phycological Society
I report to the charity trustees on my examination of the accounts of The British Phycological Society (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
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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.
Paul Murray FCCA L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB 31/01/2023 Date: .............................................
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THE BRITISH PHYCOLOGICAL SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 87,770 Investment income 2 14 Total 87,784 EXPENDITURE ON Charitable activities Charitable 52,662 Other 18,503 Total 71,165 NET INCOME/(EXPENDITURE) 16,619 RECONCILIATION OF FUNDS Total funds brought forward 231,899 TOTAL FUNDS CARRIED FORWARD 248,518 |
Year Ended 31.3.22 Restricted Total fund funds £ £ - 87,770 - 14 - 87,784 400 53,062 - 18,503 400 71,565 (400) 16,219 1,594 233,493 1,194 249,712 |
Period 1.10.19 to 31.3.21 Total funds £ 162,481 720 163,201 53,843 32,137 85,980 77,221 156,272 233,493 |
|---|---|---|
The notes form part of these financial statements
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THE BRITISH PHYCOLOGICAL SOCIETY
BALANCE SHEET 31 March 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 5 994 CURRENT ASSETS Cash at bank 270,609 CREDITORS Amounts falling due within one year 6 (23,085) NET CURRENT ASSETS 247,524 TOTAL ASSETS LESS CURRENT LIABILITIES 248,518 NET ASSETS 248,518 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 1,194 - 1,194 1,194 1,194 |
2022 Total funds £ 994 271,803 (23,085) 248,718 249,712 249,712 248,518 1,194 249,712 |
2021 Total funds £ - 258,841 (25,348) 233,493 233,493 233,493 231,899 1,594 233,493 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 25 January 2023 and were signed on its behalf by:
Dr NJD Slee - Trustee
The notes form part of these financial statements
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THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Period | ||
| 1.10.19 | ||
| Year Ended | to | |
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Deposit account interest | 14 | 720 |
continued...
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THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the period ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the period ended 31 March 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 162,481 Investment income 720 Total 163,201 EXPENDITURE ON Charitable activities Charitable 53,043 Other 32,137 Total 85,180 NET INCOME/(EXPENDITURE) 78,021 RECONCILIATION OF FUNDS Total funds brought forward 153,878 TOTAL FUNDS CARRIED FORWARD 231,899 |
Restricted fund £ - - - 800 - 800 (800) 2,394 1,594 |
Total funds £ 162,481 720 163,201 53,843 32,137 85,980 77,221 156,272 233,493 |
|---|---|---|
continued...
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THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
| 5. TANGIBLE FIXED ASSETS COST Additions DEPRECIATION Charge for year NET BOOK VALUE At 31 March 2022 At 31 March 2021 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.4.21 £ Unrestricted funds General fund 206,899 SMF 25,000 231,899 Restricted funds Manton 1,594 TOTAL FUNDS 233,493 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 87,784 Restricted funds Manton - TOTAL FUNDS 87,784 |
Computer equipment £ 1,484 490 994 - 2022 2021 £ £ 23,085 25,348 Net movement At in funds 31.3.22 £ £ 16,619 223,518 - 25,000 16,619 248,518 (400) 1,194 16,219 249,712 Resources Movement expended in funds £ £ (71,165) 16,619 (400) (400) (71,565) 16,219 |
|---|---|
continued...
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THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.10.19 £ Unrestricted funds General fund 128,878 SMF 25,000 153,878 Restricted funds Manton 2,394 TOTAL FUNDS 156,272 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 163,201 Restricted funds Manton - TOTAL FUNDS 163,201 |
Net movement At in funds 31.3.21 £ £ 78,021 206,899 - 25,000 78,021 231,899 (800) 1,594 77,221 233,493 Resources Movement expended in funds £ £ (85,180) 78,021 (800) (800) (85,980) 77,221 |
|---|---|
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
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THE BRITISH PHYCOLOGICAL SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2022
| Period | ||
|---|---|---|
| 1.10.19 | ||
| Year Ended | to | |
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Subscriptions | 13,086 | 8,948 |
| Journal profit share | 74,684 | 153,533 |
| Investment income | 87,770 | 162,481 |
| Deposit account interest | 14 | 720 |
| Total incoming resources | 87,784 | 163,201 |
| EXPENDITURE | ||
| Charitable activities | ||
| Travel awards (S.M.F.) | 995 | 3,874 |
| Awards for courses, travel and summer bursary | 16,030 | 2,771 |
| Small grants | 7,988 | 5,066 |
| Hilda Canter-Lund award | 500 | 750 |
| Summer studentships | 6,159 | 1,800 |
| Algaebase sponsorship | - | 5,000 |
| Diatom Group | 2,400 | 3,600 |
| BPS Algal Video Award | 750 | 1,200 |
| Manton Award | 400 | 800 |
| Specialist One Off Costs | - | 13,010 |
| Winter Meeting Costs | 6,465 | 3,440 |
| Other | 41,687 | 41,311 |
| EJP Editors expenses | 16,240 | 26,841 |
| The Phycologist | 1,787 | 1,806 |
| Council meeting | 476 | 3,139 |
| Biodiversity Committee expenses | - | 351 |
| 18,503 | 32,137 | |
| Support costs | ||
| Other | ||
| Computer equipment | 490 | - |
This page does not form part of the statutory financial statements
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THE BRITISH PHYCOLOGICAL SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2022
| Period | ||
|---|---|---|
| 1.10.19 | ||
| Year Ended | to | |
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Other | ||
| Other 3 | ||
| Sundries | 90 | - |
| Governance costs | ||
| Website maintenance | 838 | 554 |
| Insurance | 748 | 1,344 |
| Executive Honouraria | 5,250 | 5,850 |
| Accountancy and legal fees | 1,920 | 1,800 |
| Society of Biology Subscriptions | 645 | 645 |
| FEMS subscription | 492 | 1,129 |
| FEPS subscription | 785 | 869 |
| Bank charges | 117 | 341 |
| 10,795 | 12,532 | |
| Total resources expended | 71,565 | 85,980 |
| Net income | 16,219 | 77,221 |
This page does not form part of the statutory financial statements
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