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||Page|
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|Directors' Report|1-4|
|Independent
Examiner's
Report||
|Statement ofFinancial Activities||
|and Income and Expenditure
Account||
|Balance Sheet||
|Notes to the Financial Statements|8-12|
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|Directors|ar|e normally
appointed|e normally
appointed|e normally
appointed|at the AGM|each year.|||
|---|---|---|---|---|---|---|---|---|
|Reference||and administrative|||details||||
|Company|Registration|||Number.||739676 (England||and Wales)|
|Charity Registration|||Number:|||260942 (England||and Wales)|
|Registered||Office:||||British Poultry|Science Limited||
|||||||International|House||
|||||||61 Mosley Street|||
|||||||Manchester|||
|||||||M2 3HZ|||
|Business Address:||||||Roslin Institute|||
|||||||University
of|Edinburgh||
|||||||Easter Bush,|Midlothian||
|||||||EH25 9RG|||
|Independent||Examiner:||||Matthew
Struthers||BACA|
|||||||Henderson
Black||&Co|
|||||||22 Crossgate|||
|||||||Cupar|||
|||||||Fife|||
|||||||KY15 5HW|||
|Bankers:||||||Bank ofScotland|||
|||||||Teviot House|||
|||||||41 South Gyle Crescent|||
|||||||Edinburgh|||
|||||||HSBC pic|||
|||||||City Office|||
|||||||PO Box|||
|||||||85|||
|||||||Cambridge|||
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|Directors|||
|---|---|---|
|The following|directors have held office since|1 January 2020:|
|GKBaggott|||
|MMBain|||
|MRBedford|||
|JSBentley|||
|WBessei|||
|EBurton|||
|A Buttenvorth|||
|ICDunn|||
|D Guemene|||
|G MPesti|||
|VPfrgozliev|||
|IKempen|||
|ABM Raj
JRoberts|||
|BRodenburg|||
|VSandilands|||
|N H CSparks
JTaylor-Pickard|||
|N Yang|||
|Company Secretary:||GA Mieras|
|Joint Editors:||BSvihus|
|||JBKjaer|
|Scientific Copy Editor:||LWaldron|
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|||||Unrestricted|
|---|---|---|---|---|
|||||and|
|||Unrestricted|Totalfunds|Totalfunds|
|||funds|||
|||2020|2020|2019|
||Notes|6|6|6|
|Income from:|||||
|Charitable
activities|||||
|Royalties and commission
Conference expense contribution
Investment
income||69,106
5,010|69,106
5,010|69,321
5,010|
|Dividends
received
Bank interest received||8,058
89|8,058
89|9,982
166|
|Total income||82,263|82,263|84,479|
|Expenditure
on:|||||
|Charitable
activities|||||
|Grants and donations
Other charitable
expenditure|4|15,191
52,920|15,191
52,920|5,362
53,490|
|Total expenditure|12|68,111|68,111|58,852|
|Net income before gains and losses|||||
|on investments||14,152|14,152|25,627|
|Net (losses)/gains
on investments||(34,651)|(34,651)|28,462|
|Net income and net movement|||||
|in funds||(20,499)|(20,499)|54,089|
|Reconciliation
offunds:|||||
|Total funds brought forward||415,205|415,205|361,116|
|Total funds carried forward||394,706|394,706|415,205|
##
|||||Notes|2020
f||2019
f||
|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||
|Tangible assets||||||5||11|
|Investments||||||165,074||199,725|
|||||||165,079||199,736|
|Current assets|||||||||
|Debtors|||||45,352||39,591||
|Cash at bank|and|in|hand||185,694||177,030||
||||||231,046||216,621||
|Creditors: amounts|||falling due within||||||
|one year||||10|(1,419)||(1,152)||
|Net current assets||||||229,627||215,469|
|Total assets||||||394,706||415,205|
|Funds ofthe|charity||||||||
|Unrestricted|funds||||||||
|Fair value reserve||||||73,954||108,605|
|General
fund||||||320,752||306,600|
|Members'
funds||||||394,706||415,205|
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|Royalties and commission|Royalties and commission|Royalties and commission|
|---|---|---|
|Gross subscription
income for the year, being receipts from the sale ofjournals, accounted
for by Taylor
and Francis Limited amounted
to 6153,570(2019 - 8154,047). British Poultry Science Limited receives
royalties
amounting
to45%(2019-45%)ofthis total.|||
|Investment
income|2020|2019|
||8||
|Income from fixed asset investments
Bank interest|8,058
89|9,982
166|
||8,147|10,148|
|Grants and donations|||
|During the year no travel grants were made due to the impact ofCovid-1 9(2019-64,202 to 6 individuals).
Small project grants totalling 814,191were paid during the year to Scotland's
Rural College, Nottingham
Trent University
and University
ofGlasgow (2019- Scil). Charitable
donations
totalling 61,000were also
made
in the year to the Gordon Memorial
Trust (2019 - 81,160to the Gordon Memorial Trust).|||
|Net income|2020|2019|
||6|8|
|Net income is stated after charging:|||
|Depreciation||496|
|Honoraria
for 1 director (2019- 1 director)|630|605|
|(8630to G K Baggott, 2019-8605 to G K Baggott).|||
|Loss on disposal oftangible assets
No directors received reimbursement
oftravel and subsistence
(2019-6
directors)
Joint editors honoraria,
travel and computer
software expenses|(6)
16,817|1,354
16,515|
|Company
Secretary/Administrator
fees and expenses (post, stationery
and
and travel)|20,808|20,408|
|Independent
examiner's fee|1,270|1,240|
|The company
had no employees
during the year.|||
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||The company is a registered
charity and, as such,|is exempt from taxation on any surplus.||
|---|---|---|---|
|7|Tangible fixed assets|Fixtures,|Fixtures,|
|||fittings and|fittings and|
|||equipment|equipment|
|||2020|2019|
|||5|8|
||Cost orvaluation|||
||At 1 January 2020|6,381|6,381|
||Disposals|(4,219)||
||At 31 December 2020|2,162|6,381|
||Depreciation|||
||At 1 January 2020|6,370|5,874|
||On disposals|(4,213)||
||Charge for the year||496|
||At 31 December 2020|2,157|6,370|
||Net book value|||
||At 31 December 2020|||
||At 31 December 2019||507|
|8|Fixed asset investments|||
||Listed investments|2020|2019|
||||8|
||iwarket value|||
||At 1 January 2020|199,725|171,263|
||Net gain/(loss)
on revaluation|(34,651)|28,462|
||At 31 December 2020|165,074|199,725|
||Investments
at fair value|||
||At 31 December 2020|165,074|199,725|
##
##
||considered
i|n the|fi|nancia|l
revie|w and i|nvestm|ent
policy sections o|fthe trustees'
annual
report.||
|---|---|---|---|---|---|---|---|---|---|---|
|9|Debtors||||||||2020|2019|
||||||||||8|8|
||Trade debtors||||||||45,106|39,321|
||Other taxes|and social security||||costs||||31|
||Prepayments||||||||246|239|
||||||||||45,352|39,591|
|10|Creditors: amounts|||falling due within|||one|year|2020|2019|
||||||||||8|8|
||Taxation and|social||security|||||267||
||Accruals||||||||1,152|1,152|
||||||||||1,419|1,152|
|11|Reconciliation ofmovements|||||in members'||funds|2020|2019|
||||||||||8|8|
||Net movement
in funds||||||||(20,499)|54,089|
||Net addition|to/(depletion|||in) members'||funds||(20,499)|54,089|
||Opening
members'||funds||||||415,205|361,116|
||Closing members'||funds||||||394,706|415,205|
##
|12|Detailed income and expenditure|Detailed income and expenditure|Detailed income and expenditure|Detailed income and expenditure|Detailed income and expenditure|account||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||6|2020
6|f|2019
6|
||Income|||||||||||
||Royalties and commission||||||||69,106||69,321|
||Conference
and other expense||||contributions||||5,010||5,010|
||Investment
income
Bank interest||||||||8,058
89||9,982
166|
||Total income||||||||82,263||84,479|
||Expenditure|||||||||||
||Grants and donations||||||||15,191||5,362|
||Other charitable expenditure:|||||||||||
||Editorial expenses|||||||15,700||15,050||
||Directors' honoraria|||||||630||605||
||Editors' honoraria|||||||16,817||16,169||
||Other honoraria|||||||7,890||7,285||
||Journal supplement|and on line access fee||||||4,536||3,860||
||Website costs|||||||321||366||
||Bank charges|||||||167||255||
||Post, stationery
and|sundry expenses||||||195||212||
||Business committee|meeting||and subsistence|||costs|25||454||
||Secretarial and administration||||fee|||5,083||4,865||
||Depreciation|||||||||496||
||Loss/(gain)
on fixed|assets||||||||||
||AGM meeting
and subsistence||||costs|||||2,580||
||Independent
examination||fee|||||1,270||1,240||
||Other costs|||||||280||53||
||||||||||52,920||53,490|
||Total expenditure||||||||68,111||58,852|
||Surplus||||||||14,152||25,627|
|13|Control|||||||||||