ENGLISH PLACE-NAME SOCIETY Statement of Financial Activities : Year to 31 December 2020
General Fund
| 12 mths to 31 Dec 2020 | 12 mths to 31 Dec 2020 | 12 mths to 31 Dec | 2019 | 2019 |
|---|---|---|---|---|
| Unrestricted Funds | Unrestricted Funds | |||
| Income | £ | £ | ||
| Subscriptions for Current Year | 13,819 | 13,933 | ||
| Investment Income | 1,810 | 2,715 | ||
| Royalties | 556 | 602 | ||
| Donations | 3,308 | 2,873 | ||
| Sales of Journals | 45 | 78 | ||
| Other income | 498 | 146 | ||
| 20,036 | 20,347 | |||
| Expenditure | ||||
| Production of Journal 52(51) Estimated | 2,000 | 2,000 | ||
| Under/ (Over)provision for production of Journal 51(50) | (549) | (250) | ||
| 1,451 | 1,750 | |||
| Office and Admin Expenses | ||||
| Administrator | 4,753 | 6,822 | ||
| Accountancy and Management | 2,100 | 2,100 | ||
| Office Costs Maintenance and Travel | 3,442 | 3,507 | ||
| Research Costs | 1,836 | 1,645 | ||
| Essay prizes | 0 | 350 | ||
| Audit fee | 100 | 100 | ||
| 12,231 | 14,524 | |||
| Bad Debts written off less recovered | 352 | 0 | ||
| Depreciation | 95 | 106 | ||
| 14,129 | 16,380 | |||
| Excess of income over expenditure | 5,907 | 3,967 |
ENGLISH PLACE-NAME SOCIETY Statement of Financial Activities: 12 months ended 31 Dec 2020
Publications Fund
| 12 months to 31 Dec 2020 | 12 months to 31 Dec 2020 | 12 months to 31 Dec 2019 | 12 months to 31 Dec 2019 | |
|---|---|---|---|---|
| Unrestricted Funds | Unrestricted Funds | |||
| £ | £ | £ | £ | |
| Net sales of publications | 8,094 | 11,629 | ||
| Transfer from provision for previous years volumes | 42,684 | 14,560 | ||
| Net cost of publications sold | (9,840) | (7,455) | ||
| Gross Profit | 40,938 | 18,734 | ||
| Staff Costs | ||||
| Publications officer | (4,753) | (6,822) | ||
| Excess of income over expenditure | 36,185 | 11,912 |
Appropriation Account for the 12 mths ended 31 Dec 2020
| 12 months to 31 Dec 2020 | 12 months to 31 Dec 2019 | |
|---|---|---|
| Unrestricted Funds | Unrestricted Funds | |
| £ | £ | |
| Excess of income over expenditure | ||
| Publications | 36,185 | 11,912 |
| General | 5,907 | 3,967 |
| Net excess of income over expenditure | 42,092 | 15,879 |
| Transfer of subscriptions to provision | ||
| for publication of current years volume | (13,819) | (13,933) |
| Surplus/(loss) for year | 28,273 | 1,946 |
ENGLISH PLACE-NAME SOCIETY Balance Sheet as at 31 December 2020
| 31.12.20 Unrestricted £ £ Fixed assets Cost or Valuation 40,047 Depreciation (37,200) 2,847 Investments At Valuation , 1 April 1990 or later cost 13,634 (Market Value £139,727) (Dec 19 £121,664) 16,481 Current Assets Stock 101,786 Debtors 2,966 Bank 28,082 Prepayments 0 132,834 Current Liabilities Creditors and accrued expenses (8,940) Subscriptions received in advance (909) Deferred grant income 0 (9,849) Net current assets 122,985 Total net assets 139,466 Financed by Members funds Accumulated Fund as at 1 Jan 97,374 Surplus for period ended 31 Dec 28,273 125,647 Provision for Publication of Volumes For previous years 0 For current year 13,819 13,819 139,466 |
Restricted £ (3,000) (3,000) (3,000) (3,000) (3,000) (3,000) (3,000) |
Total £ 40,047 (37,200) 2,847 13,634 16,481 101,786 2,966 28,082 0 132,834 (8,940) (909) (3,000) (12,849) 119,985 136,466 94,374 28,273 122,647 0 13,819 136,466 |
31.12.19 £ £ 40,047 (37,105) 2,942 13,634 16,576 100,467 2,466 31,940 0 134,873 (10,143) (1,248) (3,000) (14,391) 120,482 137,058 92,428 1,946 94,374 28,751 13,933 42,684 137,058 |
31.12.19 £ £ 40,047 (37,105) 2,942 13,634 16,576 100,467 2,466 31,940 0 134,873 (10,143) (1,248) (3,000) (14,391) 120,482 137,058 92,428 1,946 94,374 28,751 13,933 42,684 137,058 |
|---|---|---|---|---|
| 137,058 |
ENGLISH PLACE-NAME SOCIETY
Schedule of Movements on Fixed Assets for the year ended 31 Dec 2020
| Cost or Valuation As at 1.1.2020 Additions in year Disposals in year As at 31.12.2020 Depreciation As at 1.1.2020 Provided in year Written off on disposals As at 31.12.2020 Net book value as at 31.12.2019 Net book value as at 31.12.2020 |
Office Furniture Library Olof von Feilitzen Total Machinery and Fixtures Collection 29376 1426 7245 2000 40047 29376 1426 7245 2000 40047 29376 1410 6319 0 37105 0 2 93 0 95 0 29376 1412 6412 0 37200 0 16 926 2000 2942 |
|---|---|
| 0 14 833 2000 2847 |
English Place-Name Society Notes to the Accounts for the year to 31 December 2020
1. Accounting Policies General
The accounts 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 for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (FRSSE), and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
Depreciation
Depreciation is provided on a reducing balance basis at the following rates based on the estimated useful life of these fixed assets and their anticipated residual value:-
Office Machinery 50% per annum Furniture and Fixtures 15% per annum Library 10% per annum
2. Donations and Grants
Year to Year to 31 Dec 2020 31 Dec 2019 £ £ Donations and Legacies 3,308 2,873
3. Management and administration of the Charity
Year to Year to 31 Dec 2020 31 Dec 2019 £ £ Independent Examination Fee 100 100
4. Employees’ Remuneration
Total remuneration for the period amounted to £9,506. The average numbers of paid staff for the year were:
Administration staff 1 part time employee
5. Trustees’ expenses and remuneration
No reimbursements were made to trustees of the society in the period (year to 31 Dec 2019 £0). The Society’s treasurer received £2,100 (year to 31 December 2019 £2,100) from the charity’s funds in relation to her work on the financial affairs and accounts preparation for the Society.
Report on the accounts for the year ended 31 December 2020
The accounts for the period ended 31 December 2019 have been reviewed by our independent examiner, Mr Howard Baker. He will soon commence his review of the accounts for the year ended 31 December 2020.The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.
Comparison of results for the years ended 31 December 2020 and 31 December 2019
Publications Income and Expenditure Account
During the calendar year 2020, the Society published the next three volumes, The PlaceNames of Dorset Part 5 and Shropshire parts 8 and 9. Despite the effects of the pandemic resulting in the closure of the EPNS offices for nearly half of the year, the sales of publications total was surprisingly healthy at £8094, a reduction of 30% on the previous year but that figure in turn was unusually high showing an increase of over 60% in comparison with 2018 sales.
General Income and Expenditure Account
Subscription income of £13,819 showed a negligible decrease compared to the previous year (£13,933) reflecting a minor reduction in membership numbers. Our other main sources of income for the year were royalties (£556), investment income (£1,810), and donations (£3,308).
Total expenditure for the Society of £12,431 showed a decrease on the previous year (£14524), mainly due to lower expenditure on staff costs as a result of the government’s furlough scheme.
The overall position on the General Fund showed a surplus for the year of £5,708, compared to £3,967 in 2019. The higher surplus for this year reflects steady income levels but lower costs as mentioned above.
Balance Sheet
The market value of the investments stood at £139,727 at the end of 2020, showing a significant increase on the previous year’s value of £121,664. The EPNS investment valuation has experienced fluctuations over the past couple of years, reflecting the instability in financial markets due to uncertainty over Brexit and the impact of the pandemic. However at the time of writing the shares had increased further in value (£152,189). Our bank balance shows a healthy surplus of £28,082 which is particularly pleasing as we have made excellent progress this year on reducing our backlog of volume publications and the financial outlay that involves.
General Position
The financial outlook for 2021 is uncertain, with the main concerns being the impact of our departure from the EU and the effect on membership and book sales to EU countries, and also the continuing unknown path of the pandemic. However the Society is in a strong financial position to face any storms ahead.
Nottingham Andrea Ellis June 2021