**REGISTERED CHARITY NUMBER: 261800** 

## **REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **FOR** 

## **THE BRITISH GRASSLAND SOCIETY** 

Rose Rowland and Co Limited Chartered Accountants High Street Weaverham Northwich CW8 3HA 



**THE BRITISH GRASSLAND SOCIETY** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 8|
|**Independent Examiner's Report**|9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Notes to the Financial Statements**|12 to 19|
|**Detailed Statement of Financial Activities**|20 to 21|





**THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES** 

## **FOR THE YEAR ENDED 31ST DECEMBER 2021** 

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021. 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

Objectives and aims 

The objectives of the Charity are as follows: 

1. The improvement of economic methods of production and utilisation of grass and forage crops for the promotion of profitable agriculture. 

2. The advancement of education and research in grass and forage crop production and utilisation. Publication of the results of relevant research to an international audience via a quarterly Journal and academic symposia. 

3. Interpretation of research and active communication of improved methods of production and utilisation to the farming community. 

4. Promotion of grassland farming as an example of sustainable agriculture, which is environmentally benign and visually attractive, for the public benefit. 

5. Its Research and Development Committee represents members' interests to Government by responding to consultations and identifying priorities for research. 

## **Public benefit** 

The Trustees have considered the Public Benefit provided to the general public and relevant sector of the public which it serves and are satisfied that it meets the requirements of the Charity Commission. In line with its objectives, the society aims to support sustainable grassland management and protection of the environment for future farming generations and the general public. For the relevant sector of the public, benefits include: 

a) Providing information on the website and through interaction with the Press, open membership and membership fees which are subsidised by other activities and reduced rates for students and retired members; 

b) By holding some open events each year; 

c) By seeking sponsorship to subsidise conference and workshop fees; 

d) Through a bursary award scheme open to members and non-members; 

e) Contributing to government consultations on behalf of members; 

f) Offering publications below the cost of their production. 

Page 1 



## **THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **ACHIEVEMENT AND PERFORMANCE** 

Recorded membership of the society at the end of 2021 totalled 416 compared with 429 on record in 2020. There were 40 resignations, including a number written off because of continued non-payment. New members in 2021 totalled 27, similar to the increase of 21 in 2020. Payments by Direct Debit continue to increase, with a number of standing order and invoice payees and new members moving to this method. Corporate membership remained at 15 companies during the year. Covid-19 continued to affect local society meetings during 2021 and this impacted on prompt payments of the 2021  affiliation fee. There are 48 fully paid active affiliated societies on record in 2021. One society has yet to make payment and one society is currently making a decision on whether to continue activities going forward. Together with full members the network in total is currently estimated at 4500 people. 

In 2021, the Society returned an overall increase in funds of £56,156 compared to a deficit in funds of £17,406 in 2020. The increase was due to a rise in the investment values by £40,763. If we exclude this then the society made a surplus of £15,393 in 2021, compared to £1,498 in 2020. 

There was a change to the BGS office staff during 2021 with Celia Stubbs retiring at the end of April 2021. Following a recruitment process Helen Cockbill was appointed to the position of BGS Office and Events Administrator from the 1st July 2021. The overall staffing level at the end of 2021 was just over 2.1 FTE. Following the retirement of Celia the opportunity was taken to reconsider the continued suitability of the location of the BGS office at Reaseheath College near Nantwich. After the evaluation of a number of different options the decision was taken to relocate the BGS office further south, to Dunston Business village near Stafford on the 1st July 2021. The new office location has significantly reduced commuting time for all BGS staff members, as well as offering a more suitable self-contained office environment. Although the ability to work from home through the various cloud based systems remains in place, the majority of staff time has been based at the BGS office following the relaxation of Covid-19 restrictions. 

Covid-19 continued to impact the planned activities for the Society during 2021, particularly during the first half of the year. The research conference postponed from 2020 took place virtually in March 2021 along with a virtual summer tour of Northern Ireland in late June 2021 showcasing some excellent grassland farms. Following the improvement in the Covid-19 situation during the late summer of 2021 the Grassland Farmer of the Year competition judging was able to take place in person during August 2021. However the awards dinner took place virtually on Tuesday 19th October. 

BGS event activity summary during 2021: 

a) The first of a series of two webinars focusing on Biodiversity in Grassland livestock farming was held on Tuesday 26th January 2021 in association with BSAS and the Stapledon Memorial Trust. The webinar discussed the science: What is the state of biodiversity and how might it be increased? Speakers included Dr Lisa Norton (Land Use Group, Centre for Ecology & Hydrology, Lancaster), Prof Robin Pakeman (James Hutton Institute, Aberdeen) and Dr Will Peach (Head of Conservation Science for England & Wales, Royal Society for Protection of Birds). 

Page 2 



## **THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

b) The second of a series of two webinars focusing on Biodiversity in Grassland livestock farming was held on Tuesday 2nd of February 2021 in association with BSAS and the Stapledon Memorial Trust. The webinar discussed implementation: How policy and practice could reverse biodiversity decline. Speakers included Clare Pinches (Principal Science Analyst, Natural England), Ian Boyd (Cotswold Beef & ianboydphotography.co.uk, Whittington Lodge Farm, Cheltenham) and Chris Clark (Nethergill Associates). 

c) The fourth in a series of five webinars held in association with AHDB focusing on herbal leys was held on Wednesday 3rd March 2021. This webinar discussed feeding and grazing management. The panel included Tom Tolputt (South West Farm Consultants), Dan Burdett (dairy farmer and Nuffield scholar), Sam Chesney (beef farmer) and Dr Dave Davies (Silage Solutions Ltd). 

d) The 13th BGS Research Conference took place from Tuesday 2 March to Thursday 4 March 2021. It proved to be very popular with 179 people from 12 different countries registering for the event, and over 150 attending the live sessions. Funding from the Stapledon Memorial Trust supported the registration of over 50 students. The conference was split into three sessions; establishment, sward management for grazing and conservation, and utilisation and feeding value. Speakers included Prof Caroline Brophy (Trinity College, Dublin), Prof Tommy Boland (UCD), Ian Wilkinson (Cotswold Seeds/FarmED), Paul Muto (Natural England) and Prof Chris Reynolds (University of Reading). 

e) The 2021 BGS Summer Meeting took place online on Tuesday 29th and Wednesday 30th June, and provided a 'Flavour of Farming in Ulster'. Four farms were visited on the virtual tour who demonstrated the commitment and enthusiasm of the farming families and the emphasis they place on grassland management to improve the profitability and sustainability of their farm businesses. 

f) The last in the series of herbal ley webinars in association with AHDB took place on Thursday 22nd July. This webinar focused specifically on sheep and was titled; How to successfully manage sheep on herbal leys. The panel included Prof Tommy Boland (UCD), James Small (sheep and beef farmer), and Angus Mackay (sheep farmer). 

g) A farm walk was held in association with AHDB and LIC on the 14 September 2021 at Nether Affleck, Lanarkshire, kindly hosted by Jim Baird. This would have normally been held in the spring but due to Covid-19 restrictions was postponed to early Autumn. 

h) The BGS Grassland Farmer of the Year award evening took place on the evening of Tuesday 19th of October online. The award evening was presented by head judge Hugh McClymont. Marc Jones was announced as the 2021 winner. 

The journal Grass and Forage Science continues to be wholly online, with full BGS members offered log-in access. The journal continues to be co-edited by Dr Anjo Elgersma and Dr Kevin Smith. The current agreement between Wiley and BGS came to an end at the end of December 2021. A new agreement based on a royalty payment will take effect from the 1st of January 2022. The reason for this change are continued developments within the publishing environment such as open access, which puts increased pressure on pricing. These changes will mean Grass and Forage Science is put in the best position within the new business environment going forward. 

Page 3 



## **THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

Article downloads via Wiley Online Library increased by 15,161 from 80,404 in 2020 to 95,565 in 2021. The top five countries from which articles were downloaded include: China (12.3%), the United States (9.7%), Brazil (7.8%), United Kingdom (7.6%) and Germany (5.9%). 

The BGS Grazing Mentors project continued during 2021 with support from the AHDB Grass campaign. At the end of 2021, 27 farmers were taking part in the mentoring programme. This included 6 beef enterprises, 4 sheep enterprises, 5 dairy enterprises, 9 beef/sheep enterprises, 2 beef/dairy/sheep enterprises and 1 dairy/sheep enterprise. 

The new BGS website www.britishgrassland.com continues to work well, further strengthening the Society's profile, communication channels and accessibility. The website is updated regularly with content and information on BGS activities and acts as a hub for event bookings. With the development of new digital content a new BGS YouTube channel was launched in October 2021. New content is added as events take place further helping raise the profile of BGS events and activities and sharing knowledge. 

Work on joint activity with industry partners has again been very important during 2021 and has allowed the Society's profile to grow in challenging circumstances. The development and collaboration on virtual events with industry partners during 2021 has continued to offer opportunities to reach across a much wider audience. The technological experience within the BGS team continues to grow and will offer significant opportunities to develop the society going forward with a blend of both in person and virtual activity. It also offers the ability to share technical information through a variety of communication routes. 

The Societies social media profile has continued to rise during 2021. At the end of the year the Society had 2591 followers on Twitter, up 135 from 2456 at the end of 2020. The BGS Facebook profile also increased to 3145 followers, up 177 from 2968 at the end of 2020. 

Working with the Herbage Grass and Clover Recommended List Project Board, the Society continues to promote the Recommended Grass and Clover Lists for England and Wales. Our profile also continues to be raised by committee activity with the Professional Nutrient Management Group and Championing the Farmed Environment. 

The Society seeks to work in partnership with many like-minded industry organisations, such as its corporate members, as well as not for profit organisations such as agricultural levy boards. Corporate membership remains important and the society continues to seek to interact and engage more actively with our existing members, as well as attracting potential new ones. A review of the corporate member package was undertaken during 2021 with the view to update the corporate member benefits package and removing the limit of 15 corporate members. 

Page 4 



## **THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

The Society continues to use the cloud-based Xero accounts system. The system continues to work well allowing work consolidation and streamlining of account management. Further development links have been made allowing the automatic linking of Xero and the online event booking system. There are opportunities for further development with regard to integration with the ACT! membership database. 

The payment systems of iZettle and Stripe continue to work well ensuring the security of card transactions made to the society. The systems allows card payments to be accepted remotely and in person at events. The implementation of these systems has allowed much greater flexibility on payment method and significantly improved transaction security. The greater flexibility has also facilitated the faster payment of invoices. These systems ensure that BGS is compliant with the Payment Card Industry Data Security Standard. 

The Society receives untiring support from all segments of the membership and grassland community - scientists, farmers, industry and advisors. Many give their time for free and work with dedication to achieve success. We are continually grateful for their efforts. 

The written policies for the running of the Society have all been reviewed by Trustees during the year. 2021 continued to be challenging in terms of budget management to mitigate, as much as possible, the effect of COVID-19 on the Society's finances. No income was drawn down from the investment portfolio during 2021 helping to support a recovery in the investment funds. The Society will need to continue to look to develop alternative funding opportunities away from the investment portfolio and Journal. This will maintain the society in a strong position going forward, allowing future investment in activities supporting growth of the Society. 

The move of the BGS investments to the Standard Life Wrap administered by RDBIFS Ltd continued to work well during 2021. Investment monitoring and management has been significantly improved allowing adjustments to the investments held if required at regular review meetings. This has ensured a suitable risk/return-balanced portfolio in line with the BGS investment policy. 

Page 5 



## **THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **FINANCIAL REVIEW** 

## **Financial position** 

In 2021 the total funds of the Society increased by £56,156. This is arrived at by a surplus of £15,393 in the society's general operations, publication activities and organisation of meetings and events. 

Investments produced an unrealised profit of £40,763. At 31 December 2021 total investment funds were £537,795 compared with £497,032 at 31 December 2020. 

## Total Fund 

The Total Account relating to management and administration produced a surplus of £56,146 compared with a deficit of £17,406 in 2020. 

Total income increased by £7,505 compared with 2020. This resulted from an increase in income from meetings and events of £4,122, demonstrating and events of £10,500 and grants of £5,017 and a decrease in income from publications of £6,182, subscriptions and fees of £658 and other income of £2,388. Investment income decreased by £2,906 in the year. 

Total expenditure decreased by £6,390 compared with 2020, as a result of decreased overheads and direct costs. 

The production of Society publications in various forms produced an income of £88,558 compared with £94,740 in 2020. 

Net income from Grass and Forage Science totalled £75,838 compared with £81,338 in 2020. The publishers, Wiley, continue to explore and develop further extension of the publication via online facilities and expand into developing areas such as China and Brazil. The journal was co-edited by Dr Kevin Smith and by Dr Anjo Elgersma. The editorial policy of Grass and Forage Science remains under the complete control of the Society. 

## Bursary Award Fund 

No BGS bursary award was made this year. However, Trustees are continuing to explore ways to utilise the surplus funds the Society now holds in the form of academic and non-academic awards. 

## **Investment policy and objectives** 

It is the policy of the Trustees to invest any surplus of resources available in order to achieve a level of return as considered acceptable by the Trustees. The investments held by the Society have been acquired in accordance with the powers of the Trustees. 

Page 6 



## **THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **FINANCIAL REVIEW** 

## **Reserves policy** 

The Trustees have considered the requirement for reserves held by the society and believe the optimum level of free reserves (those not invested in Tangible Fixed Assets) should be 18 months expenditure, with an absolute minimum of 1 year's expenditure, to cover the risks of the society relating to events, publications and obligations to staff and creditors. 

At 31st December 2021 reserves held total £813,321. The Trustees consider that total funds are sufficient to meet future financial obligations of the Society. A written policy on reserves has been agreed by the Trustees and is reviewed annually. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The Charity is organised and run by an elected Council, who during their period in office are recognised as Trustees of the Charity. The Trustees operate under the incorporated title of "The Trustees of the British Grassland Society" but the granting of this incorporated status by the Charity Commissioners does not alter the powers or liabilities of the individual Trustees to comply with the Charities Act 1993 as set out at the end of this report, and the Society remains an unincorporated association that is governed by its Constitution. Other societies with objectives in accordance with the British Grassland Society can become affiliated societies, and this should be encouraged for the benefit of the Society, its objectives and agriculture in general. 

The Council is supported by regional advisers to Council, other Committees formed for specific functions as and when the Trustees determine and affiliated local grassland societies in the UK. These committees comprise of Trustees and members of the Society co-opted in relation to the particular expertise required on these committees. Chairs of committees report to Council with recommendations. Election of Trustees to Council is by nomination and then, if necessary, by vote at the Annual General Meeting. The Trustees are unpaid for services rendered to the Society. A new constitution was agreed in 2006, amended in 2009, and is approved by the Charity Commission for England and Wales. A further amendment was made following the 2018 AGM, when a proposal to reduce the period after which membership was terminated for non-payment of the subscription invoice was reduced to three months instead of six. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

261800 

## **Principal address** 

Log Cabin 13b Dunston Business Village Stafford Road Dunston ST18 9AB 

Page 7 



**THE BRITISH GRASSLAND SOCIETY** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **Trustees** 

Dr P J Murray Honorary Treasurer Dr E Genever Honorary Secretary Mr R H Simpson Immediate Past President Mr A King Mr D McConnell President Mr P Muto Dr F V Crotty Dr E A Stockdale President Elect. Miss M G H Dawson 

## **Independent Examiner** 

Rose Rowland and Co Limited Chartered Accountants High Street Weaverham Northwich CW8 3HA 

Approved by order of the board of trustees on 28th June 2022 and signed on its behalf by: 

Mr D McConnell - Trustee 

Page 8 



**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH GRASSLAND SOCIETY** 

## **Independent examiner's report to the trustees of The British Grassland Society** 

I report to the charity trustees on my examination of the accounts of The British Grassland Society (the Trust) for the year ended 31st December 2021. 

## **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: 

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. 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. 

Rosemary Rowland FCA Rose Rowland and Co Limited Chartered Accountants High Street Weaverham Northwich CW8 3HA 

28th June 2022 

Page 9 



**THE BRITISH GRASSLAND SOCIETY** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

|**31.12.21**<br>**Unrestricted**<br>**funds**<br>**Notes**<br>**£**<br>**INCOME AND ENDOWMENTS**<br>**FROM**<br>**Charitable activities**<br>Meeting and events<br>17,622<br>Publication costs<br>88,558<br>Other<br>5,749<br>Subscriptions<br>36,975<br>Investment income<br>2<br>898<br>**Total**<br>149,802<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Meeting and events<br>(7,448)<br>Publication costs<br>38,109<br>Other<br>103,748<br>**Total**<br>134,409<br>Net gains/(losses) on investments<br>40,763<br>**NET INCOME/(EXPENDITURE)**<br>56,156<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>757,165<br>**TOTAL FUNDS CARRIED**<br>**FORWARD**<br>813,321|**31.12.20**<br>**Total**<br>**funds**<br>**£**<br>-<br>94,740<br>6,120<br>37,633<br>3,804<br>142,297<br>4,606<br>31,302<br>104,891<br>140,799<br>(18,904)<br>(17,406)<br>774,571<br>757,165|
|---|---|



The notes form part of these financial statements 

Page 10 



## **THE BRITISH GRASSLAND SOCIETY** 

## **BALANCE SHEET** 

## **31ST DECEMBER 2021** 

|**Notes**<br>**FIXED ASSETS**<br>Intangible assets<br>6<br>Tangible assets<br>7<br>Investments<br>8<br>**CURRENT ASSETS**<br>Debtors<br>9<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>10<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>11<br>Unrestricted funds<br>**TOTAL FUNDS**|**31.12.21**<br>**31.12.20**<br>**Unrestricted**<br>**Total**<br>**funds**<br>**funds**<br>**£**<br>**£**<br>4,455<br>5,940<br>1,133<br>1,510<br>537,795<br>497,032<br>543,383<br>504,482<br>81,385<br>90,467<br>203,328<br>173,037<br>284,713<br>263,504<br>(14,775)<br>(10,821)<br>269,938<br>252,683<br>813,321<br>757,165<br>813,321<br>757,165<br>813,321<br>757,165<br>813,321<br>757,165|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on 28th June 2022 and were signed on its behalf by: 

Mr D McConnell - Trustee 

The notes form part of these financial statements 

Page 11 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

## **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. 

Equipment - 25% on reducing balance 

## **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. 

continued... 

Page 12 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **1. ACCOUNTING POLICIES - continued** 

## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS** 

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **2. INVESTMENT INCOME** 

|**INVESTMENT INCOME**|||
|---|---|---|
||**31.12.21**|**31.12.20**|
||**£**|**£**|
|Income from listed investments|-|3,051|
|Deposit account interest|898|753|
||898|3,804|



## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020. 

## **TRUSTEES' EXPENSES** 

There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020. 

## **4. STAFF COSTS** 

The average monthly number of employees during the year was as follows: 

||**31.12.21**|**31.12.20**|
|---|---|---|
|Management|1|1|
|Administration|2|2|
||3|3|



No employees received emoluments in excess of £60,000. 

continued... 

Page 13 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

|**5.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||**Unrestricted**|
|||**funds**|
|||**£**|
||**INCOME AND ENDOWMENTS FROM**||
||**Charitable activities**||
||Publication costs|94,740|
||Other|6,120|
||Subscriptions|37,633|
||Investment income|3,804|
||**Total**|142,297|
||**EXPENDITURE ON**||
||**Charitable activities**||
||Meeting and events|4,606|
||Publication costs|31,302|
||Other|104,891|
||**Total**|140,799|
||Net gains/(losses) on investments|(18,904)|
||**NET INCOME/(EXPENDITURE)**|(17,406)|
||**RECONCILIATION OF FUNDS**||
||**Total funds brought forward**|774,571|
||**TOTAL FUNDS CARRIED**||
||**FORWARD**|757,165|



continued... 

Page 14 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **6. INTANGIBLE FIXED ASSETS** 

|**6.**|**INTANGIBLE FIXED ASSETS**||
|---|---|---|
|||**Website**|
|||**£**|
||**COST**||
||At 1st January 2021 and||
||31st December 2021|21,935|
||**AMORTISATION**||
||At 1st January 2021|15,995|
||Charge for year|1,485|
||At 31st December 2021|17,480|
||**NET BOOK VALUE**||
||At 31st December 2021|4,455|
||At 31st December 2020|5,940|
||||
|**7.**|**TANGIBLE FIXED ASSETS**||
|||**Equipment**|
|||**£**|
||**COST**||
||At 1st January 2021 and||
||31st December 2021|32,165|
||**DEPRECIATION**||
||At 1st January 2021|30,655|
||Charge for year|377|
||At 31st December 2021|31,032|
||**NET BOOK VALUE**||
||At 31st December 2021|1,133|
||||
||At 31st December 2020|1,510|



Page 15 

continued... 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **8. FIXED ASSET INVESTMENTS** 

|**FIXED ASSET INVESTMENTS**||
|---|---|
||**Listed**|
||**investments**|
||**£**|
|**MARKET VALUE**||
|At 1st January 2021|497,032|
|Revaluations|40,763|
|At 31st December 2021|537,795|
|**NET BOOK VALUE**||
|At 31st December 2021|537,795|
|||
|At 31st December 2020|497,032|
|||
|There were no investment assets outside the UK.||
|Cost or valuation at 31st December 2021 is represented by:||
||**Listed**|
||**investments**|
||**£**|
|Valuation in 2021|537,795|
|||
|All investments shown above are at market value.||



## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**31.12.21**|**31.12.20**|
|---|---|---|
||**£**|**£**|
|Trade debtors|997|4,676|
|VAT|-|307|
|Prepayments and accrued income|80,388|85,484|
||81,385|90,467|



Page 16 

continued... 



## **THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**31.12.21**|**31.12.20**|
|---|---|---|
||**£**|**£**|
|Trade creditors|8,514|576|
|Taxation and social security|3,695|-|
|Other creditors|2,566|10,245|
||14,775|10,821|



## **11. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>Bursary award<br>**TOTAL FUNDS**|**At 1.1.21**<br>**£**<br>741,795<br>15,370<br>757,165<br>757,165|**Net**<br>**movement**<br>**in funds**<br>**£**<br>56,156<br>-<br>56,156<br>56,156|**At**<br>**31.12.21**<br>**£**<br>797,951<br>15,370|
|---|---|---|---|
||||813,321|
||||813,321|



Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|**Incoming**<br>**resources**<br>**£**<br>149,802<br>149,802|**Resources**<br>**expended**<br>**£**<br>(134,409)<br>(134,409)|**Gains and**<br>**Movement**<br>**losses**<br>**in funds**<br>**£**<br>**£**<br>40,763<br>56,156<br>40,763<br>56,156|
|---|---|---|---|



continued... 

Page 17 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **11. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

||||**Net**||
|---|---|---|---|---|
||||**movement**|**At**|
|||**At 1.1.20**|**in funds**|**31.12.20**|
|||**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund||759,201|(17,406)|741,795|
|Bursary award||15,370|-|15,370|
|||774,571|(17,406)|757,165|
|**TOTAL FUNDS**||774,571|(17,406)|757,165|
||||||
|Comparative net movement in funds, included in the above are as follows:|||||
||**Incoming**|**Resources**|**Gains and**|**Movement**|
||**resources**|**expended**|**losses**|**in funds**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund|142,297|(140,799)|(18,904)|(17,406)|
|**TOTAL FUNDS**|142,297|(140,799)|(18,904)|(17,406)|
||||||
|A current year 12 months and prior year 12 months combined position is as follows:|||||
||||**Net**||
||||**movement**|**At**|
|||**At 1.1.20**|**in funds**|**31.12.21**|
|||**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General fund||759,201|38,750|797,951|
|Bursary award||15,370|-|15,370|
|||774,571|38,750|813,321|
|**TOTAL FUNDS**||774,571|38,750|813,321|



continued... 

Page 18 



**THE BRITISH GRASSLAND SOCIETY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021** 

## **11. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|**Incoming**<br>**resources**<br>**£**<br>292,099<br>292,099|**Resources**<br>**expended**<br>**£**<br>(275,208)<br>(275,208)|**Gains and**<br>**Movement**<br>**losses**<br>**in funds**<br>**£**<br>**£**<br>21,859<br>38,750<br>21,859<br>38,750|
|---|---|---|---|



## **12. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31st December 2021. 

Page 19 



## **THE BRITISH GRASSLAND SOCIETY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

||**31.12.21**|**31.12.20**|
|---|---|---|
||**£**|**£**|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Income from listed investments|-|3,051|
|Deposit account interest|898|753|
||898|3,804|
|**Charitable activities**|||
|Publications|88,558|94,740|
|Subscriptions and fees|36,975|37,633|
|Meetings and events|4,122|-|
|Demonstrating and events|10,500|-|
|Grants|5,017|-|
|Other income|3,732|6,120|
||148,904|138,493|
|**Total incoming resources**|149,802|142,297|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Publication costs|30,609|31,302|
|Meeting and events|1,708|4,606|
||32,317|35,908|
|**Support costs**|||
|**Governance costs**|||
|Wages|71,490|76,500|
|Social security|2,414|2,936|
|Pensions|2,860|3,060|
|Auditors' remuneration for non audit|||
|work|2,296|2,476|
|Carried forward|79,060|84,972|



This page does not form part of the statutory financial statements 

Page 20 



## **THE BRITISH GRASSLAND SOCIETY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021** 

||**31.12.21**|**31.12.20**|
|---|---|---|
||**£**|**£**|
|**Governance costs**|||
|Brought forward|79,060|84,972|
|Cost of council|-|25|
|Office costs|21,170|17,411|
|Amortisation of intangible fixed assets|1,485|1,980|
|Depreciation of tangible fixed assets|377|503|
||102,092|104,891|
|Total resources expended|134,409|140,799|
|**Net income before gains and losses**|15,393|1,498|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset|||
|investments|40,763|(18,904)|
|**Net income/(expenditure)**|56,156|(17,406)|



This page does not form part of the statutory financial statements 

Page 21