REGISTERED CHARITY NUMBER: 246707
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2023
| 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 | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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."
Page 1
THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
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.
The BPS annual meetings provide opportunities for researchers and others interested in algae to share their knowledge and develop networks. In 2023 the 71st BPS Annual meeting was hosted by Newcastle University from 24 - 27th January. Our thanks go to the local organiser headed by Prof Pip Moore and her team. AGM was held on 25th January 2023. This was the first in person conference since the BPS meeting in Plymouth (2020). It was good that people were able to meet again in person. Themes included: Phycology in a changing world and Citizen Science; Biotechnology and General Phycology and the final day included Sci Art themed presentation. The overseas lecture by Prof Line Le Gall was delivered on 24th January by Prof Juliet Brodie and Prof Juliet Brodie also presented on 26th January the public lecture The Big Seaweed Search: citizen power and scientific research. The Manton Prize talks took place throughout the first day the conference and poster session was on the first event (24th January), with the Manton posters marked. It was also possible to see the posters at any time during the conference. Congratulations go to Hannah Kemp for the best talk: Experimental effects of light and temperature on the growth and formation of blanket weed blooms at the mesocosm scale and to Johanna Winder for the best poster: The ice-binding proteins of Fragilariopsis cylindrus: a computational exploration of genetic, structural, and evolutionary features. The Irene Manton Prizes are prestigious and highly competitive prizes.
The reporting year for the award will be from May 2022 to February 2023 to align with the new account year. 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. From May 2022 to February 2023 there were thirty-four successful applications with £47,810 funds allocated. The May 2022 round allocated £33,461 funds to 17 applicants, the November 2022 round allocated £8,360 to 13 recipients which included a special award and the February 2023 round allocated £5,539 for four awards. There were four project awards, six BPS video bursaries, twenty-two bursaries which included three to attend the BPS Winter meeting with two being allocated to the SMF. There was also a special award and a student internship. The bursaries enable graduates and ECRS to attend algae meetings around the world which was often the first chance since the effects of the Covid pandemic. Conferences included: 24th International Seaweed Symposium - 19th-24th of February 2023 in Tasmania; Species on the Move Conference, 14-19 May 2023 in Florida; Investing in biotech in Africa. 33rd Congress of the Phycological Society of Southern Africa, Cape; Western Indian Ocean Marine Science Association meeting; 14th - 19th August 2022 International Symposium on Microbial Ecology, Lausanne, Switzerland. Awards included attending algal identification courses.
Two of the SME awards (total = £759.96) were carried over from the previous year (Covid restrictions meant a change from in person to online meeting, were spent to attend and present at the BPS 2023 Winter meeting forward another award (£385.38) one was transferred so the student could a attend an algal course in Plymouth 2022. The awardees write articles for BPS newsletter: The Phycologist so more information is presented there.
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 and £2,400 was spend in YE 2023. A specialised cost, listed as a new asset is BPS Asset is a laptop for EJP and AP Editorial work which was acquired in December 2022.
Update on the Brown Seaweed Flora, YE 2023 the BPS paid the £3,750 to enable the work to be completed the remaining costs to publish (£4,500) and is still allocated for the Brown Seaweed Flora.
The Society journal, European Journal of Phycology (EJP) continued to have a productive year, with 4 issues and 550 pages produced as part of Volume 57. There were 85 new submissions from 85 countries. The impact factor of the EJP has decreased slightly relative to its competitor; it has fallen slightly from IF 2.804 in 2020 to IF 2.667 for 2021, which may reflect the increased number of publications for EJP. 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.
Page 2
THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
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 have been a great deal of problems with just about every aspect of the publication, but the good news is in September 2022 Applied Phycology has passed the assessment and has been accepted into the Scopus database. To be included in the ESCI (emerging journal citation index) it required at least one paper to be published monthly. Two special issues have been published: Towards a global view of algal molecular ecology (Sept 2022) and Applied Phycology for Sustainable Development. There was a virtual Journal management board meeting held on 4th May 2022 chaired by Graham Underwood.
FINANCIAL REVIEW
Financial position
A full statement of financial activities of The British Phycological Society for the year ending 31st March 2023 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 incoming funds for the 12-month period YE 31st March 2023 was £98,158 with the majority coming from the Society's journal profit share from publishers Taylor and Francis £84,232, in addition, net incoming funds from subscriptions from members made up £8,678 of this total. The Winter meeting incoming money was £5,084 and the remainder of the income came from interest on deposits held £164.
Total Society expenditure for the 12-month period YE 31st March 2023 is £79,674; this amount can be allocated to four categories which included: Expenditure: 1. Charitable activities: £42,163. Expenditure: Other £24,632. and 4. Expenditure: Governance Costs £12,879. In addition, there is an asset addition of £787.74.
Expenditures on Charitable activities included Grants, studentships award £34,054; see some specific details in Achievements and Performance above), for Specialist costs and sponsorship, diatom group and winter meeting (£8,109).
The total publication expenditures for the 12-month period are: £18,874 which includes; T&F production costs for YE 2023 was £4,792, BPS expenditure costs can be further broken down into editorial (£1,200), management meetings (0 - online meetings), publication, and distribution costs. The Society newsletter, The Phycologist, production, and distribution costs for the 12 months were £2,082. In addition, Meetings and Committee expenses during the 12 months were £5,758, the council meetings were now in person, many other committees are now being held online hence the costs were for council and committee members to attend council and BPS representatives to attend affiliated committee meetings.
The total for the fourth category Expenditure Governance Costs for the 12-month period is £12,879: 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 gain in fund for the BPS in March 2023 was £17,734 After including funds brought forward (held in reserve as savings) of £. the total Society funds carried forward at the end of financial year 2023 is £267,446. 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.
Page 3
THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
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 2023
President Prof Jane Lewis President Elect Prof Saul Purton Immediate Past President Prof Jason Hall Spencer Vice President Overseas Prof Line Le Gall 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 : Prof Pippa Moore, Dr Suzanne McGowan, Dr Jo Wilbraham, Dr Jessica Adams, Esther Hughes, Dr John Griffin (Co-opted) Dr Mahasweta Saha (Co-opted)
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 F Bunker Dr H Redden Prof S Purton
Independent Examiner
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
Page 4
THE BRITISH PHYCOLOGICAL SOCIETY
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
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 19 December 2023 and signed on its behalf by:
Dr NJD Slee - Trustee
Page 5
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 2023.
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
-
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
The Association of Chartered Certified Accountants
L M Griffiths & Co Limited Chartered Certified Accountants 1&2 Merlins Court Winch Lane Haverfordwest Pembrokeshire SA61 1SB
16/01/2024 Date: .............................................
Page 6
THE BRITISH PHYCOLOGICAL SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 97,994 Investment income 2 164 Total 98,158 EXPENDITURE ON Charitable activities Charitable 55,392 Other 24,632 Total 80,024 NET INCOME/(EXPENDITURE) 18,134 RECONCILIATION OF FUNDS Total funds brought forward 248,518 TOTAL FUNDS CARRIED FORWARD 266,652 |
Restricted fund £ - - - 400 - 400 (400) 1,194 794 |
2023 Total funds £ 97,994 164 98,158 55,792 24,632 80,424 17,734 249,712 267,446 |
2022 Total funds £ 87,770 14 87,784 53,062 18,503 71,565 16,219 233,493 249,712 |
|---|---|---|---|
The notes form part of these financial statements
Page 7
THE BRITISH PHYCOLOGICAL SOCIETY
BALANCE SHEET 31 March 2023
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 5 1,033 CURRENT ASSETS Cash at bank 295,979 CREDITORS Amounts falling due within one year 6 (30,360) NET CURRENT ASSETS 265,619 TOTAL ASSETS LESS CURRENT LIABILITIES 266,652 NET ASSETS 266,652 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 794 - 794 794 794 |
2023 Total funds £ 1,033 296,773 (30,360) 266,413 267,446 267,446 266,652 794 267,446 |
2022 Total funds £ 994 271,803 (23,085) 248,718 249,712 249,712 248,518 1,194 249,712 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2023 and were signed on its behalf by:
Dr NJD Slee - Trustee
The notes form part of these financial statements
Page 8
THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023
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
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 164 | 14 |
continued...
Page 9
THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 87,770 Investment income 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 |
Restricted fund £ - - - 400 - 400 (400) 1,594 1,194 |
Total funds £ 87,770 14 87,784 53,062 18,503 71,565 16,219 233,493 249,712 |
|---|---|---|
continued...
Page 10
THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 223,518 SMF 25,000 248,518 Restricted funds Manton 1,194 TOTAL FUNDS 249,712 |
2023 £ 30,360 Net movement in funds £ 18,134 - 18,134 (400) 17,734 |
Computer equipment £ 1,484 788 2,272 490 749 1,239 1,033 994 2022 £ 23,085 At 31.3.23 £ 241,652 25,000 266,652 794 267,446 |
|---|---|---|
continued...
Page 11
THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 98,158 | (80,024) | 18,134 |
| Restricted funds | |||
| Manton | - | (400) | (400) |
| TOTAL FUNDS | 98,158 | (80,424) | 17,734 |
Comparatives for 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 Comparative 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 |
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...
Page 12
THE BRITISH PHYCOLOGICAL SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund SMF Restricted funds Manton TOTAL FUNDS |
At 1.4.21 £ 206,899 25,000 231,899 1,594 233,493 |
Net movement in funds £ 34,753 - 34,753 (800) 33,953 |
At 31.3.23 £ 241,652 25,000 266,652 794 267,446 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|---|---|---|---|
| General fund | 185,942 | (151,189) | 34,753 |
| Restricted funds | |||
| Manton | - | (800) | (800) |
| TOTAL FUNDS | 185,942 | (151,989) | 33,953 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 13
THE BRITISH PHYCOLOGICAL SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Subscriptions | 8,678 | 13,086 |
| Journal profit share | 84,232 | 74,684 |
| Annual meeting | 5,084 | - |
| Investment income | 97,994 | 87,770 |
| Deposit account interest | 164 | 14 |
| Total incoming resources | 98,158 | 87,784 |
| EXPENDITURE | ||
| Charitable activities | ||
| Travel awards (S.M.F.) | 3,022 | 995 |
| Awards for courses, travel and summer bursary | 13,675 | 16,030 |
| Small grants | 6,963 | 7,988 |
| Hilda Canter-Lund award | 500 | 500 |
| Summer studentships | 5,494 | 6,159 |
| Algaebase sponsorship | 3,000 | - |
| Diatom Group | 2,400 | 2,400 |
| BPS Algal Video Award | 1,000 | 750 |
| Manton Award | 400 | 400 |
| Specialist One Off Costs | 4,500 | - |
| Winter Meeting Costs | 1,209 | 6,465 |
| Other | 42,163 | 41,687 |
| EJP and AP Journals | 16,792 | 16,240 |
| The Phycologist | 2,082 | 1,787 |
| Council meeting | 5,758 | 476 |
| 24,632 | 18,503 | |
| Support costs | ||
| Other | ||
| Computer equipment | 750 | 490 |
| Other 3 | ||
| Sundries | - | 90 |
This page does not form part of the statutory financial statements
Page 14
THE BRITISH PHYCOLOGICAL SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other 3 | ||
| Governance costs | ||
| Website maintenance | 309 | 838 |
| Insurance | 746 | 748 |
| Executive Honouraria | 8,250 | 5,250 |
| Accountancy and legal fees | 2,160 | 1,920 |
| Society of Biology Subscriptions | 645 | 645 |
| FEMS subscription | 476 | 492 |
| FEPS subscription | - | 785 |
| Bank charges | 293 | 117 |
| 12,879 | 10,795 | |
| Total resources expended | 80,424 | 71,565 |
| Net income | 17,734 | 16,219 |
This page does not form part of the statutory financial statements
Page 15