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## **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
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