Charity registration number: 267625 ## The British Society For The Philosophy of Science Annual Report and Financial Statements for the Year Ended 31 December 2020 Community Accounting Plus Units 1 & 2 Northwest 41 Talbot Street Nottingham NG1 5GL ## **The British Society For The Philosophy of Science** ## **Contents** |Reference and Administrative Details|1| |---|---| |Trustees' Report|2 to 4| |Independent Examiner's Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8 to 12| ## **The British Society For The Philosophy of Science** ## **Reference and Administrative Details** **Trustees** Dr Robert Northcott Dr Adrian Currie Dr Kirsten Walsh Prof Alexander Bird Prof Alastair Wilson Prof Rachel Cooper, President Dr James Read Dr Mazviita Chirimuuta **Principal Office** University Park Nottingham NG7 2RD **Charity Registration Number** 267625 **Independent Examiner** John O'Brien, employee of Community Accounting Plus Units 1 & 2 Northwest 41 Talbot Street Nottingham NG1 5GL Page 1 ## **The British Society For The Philosophy of Science** ## **Trustees' Report** The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020. ## **Trustees** Dr Robert Northcott Dr Adrian Currie Dr Kirsten Walsh Prof Alexander Bird Prof Alastair Wilson Dr Johanna Wolff (resigned 6 July 2021) Prof Rachel Cooper, President (appointed 8 September 2020) Dr James Read (appointed 8 September 2020) Dr Jonathan Birch (resigned 8 September 2020) Professor Helen Beebee (resigned 8 September 2020) Dr Karim Pierre Yves Thebault (resigned 8 September 2020) Dr Juha Saatsi (resigned 8 September 2020) Dr Elselijn Kingma (resigned 17 July 2020) Dr Lina Jansson (resigned 8 September 2020) Professor Simon Saunders (resigned 8 September 2020) Dr Mazviita Chirimuuta (appointed 6 July 2021) ## **Objectives and activities** ## _**Objects and aims**_ The principal object of the charity is to study the logic, the methods, and the philosophy of science, as well as those various special sciences, including the social sciences. The BSPS holds an annual conference on the philosophy of science with invited speakers and contributed papers. (NB: this conference was cancelled in 2020 due to COVID-19, and was held online in 2021). The BSPS holds several ordinary meetings over the course of the academic year. The BSPS awards doctoral studentships for doctoral work in the philosophy of science at a UK university. The BSPS makes small grants to support conferences relevant to research and education in its areas of study. The British Journal for the Philosophy of Science is published by Oxford University Press on behalf of the BSPS. (NB: From 2021 onwards, the British Journal for the Philosophy of Science is published by Chicago University Press). Other activities are decided by the committee from time to time. Page 2 ## **The British Society For The Philosophy of Science** ## **Trustees' Report** ## _**Public benefit**_ Activities benefit the public through supporting and disseminating research in the logic, the methods, and the philosophy of science. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## **Achievements and performance** The BSPS 2020 Annual Conference was cancelled due to the COVID-19 pandemic. The Society did not offer a Doctoral Scholarship during this period, due to financial uncertainty. However, it was agreed to revisit the scholarship, and ideally return to offering it, in future years. The Society’s journal continued to be published by Oxford University Press under Editors-in-Chief Steven French and Wendy Parker. Prof. French completed his term as Editor-in-Chief; the Society appointed Rob Rupert to replace him (Prof. Parker continues). The Popper Prize for 2020 was awarded by the Committee, in conjunction with the Editors-in-Chief, to Jessica Laimann for her BJPS paper “Capricious Kinds”. The Society also offered financial support to conferences falling within its areas of interest. ## **Structure, governance and management** ## _**Nature of governing document**_ The charity is operated under the rules of its trust deed adopted in 1960 and most recently amended 7th June 2010. ## _**Recruitment and appointment of trustees**_ The management of the charity is the responsibility of the Trustees (members of the BSPS committee) who are elected by Members of the society at the AGM. Page 3 ## **The British Society For The Philosophy of Science** ## **Trustees' Report** ## **Financial review** ## _**Policy on reserves**_ The society’s policy is to maintain reserves approximately equal to three years’ expenditure. This is being reviewed against the ability to pay out all obligations should there be a 50% drop in journal income. ## **Statement of Trustees' Responsibilities** The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved by the trustees of the charity on .................... and signed on its behalf by: 27/9/21 ......................................... Prof Rachel Cooper, President Trustee Page 4 ## **The British Society For The Philosophy of Science** ## **Independent Examiner's Report to the trustees of The British Society For The Philosophy of Science** ## **Independent examiner’s report to the trustees of The British Society For The Philosophy of Science** I report to the trustees on my examination of the accounts of The British Society For The Philosophy of Science (the Charity) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the trustees of the charity 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 Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 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 Charity 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 accounting 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. ...................................... John O’Brien MSc, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units 1 & 2 Northwest 41 Talbot Street Nottingham NG1 5GL 28/9/21 Date:............................. Page 5 ## **The British Society For The Philosophy of Science** ## **Statement of Financial Activities for the Year Ended 31 December 2020** |**Note**
**Income and Endowments from:**
Charitable activities
2
Investment income
3
Total Income
**Expenditure on:**
Charitable activities
4
Total Expenditure
Gains/losses on investment assets
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**funds**
**£**
115,958
18
115,976
(144,564)
(144,564)
3,935
(24,653)
271,422
246,769|**Total**
**2020**
**£**
115,958
18
115,976
(144,564)
(144,564)
3,935
(24,653)
271,422
246,769|**Total**
**2019**
**£**
115,023
12| |---|---|---|---| ||||115,035| ||||(118,199)| ||||(118,199)| ||||18,296| ||||15,132
256,290| ||||271,422| Page 6 ## **The British Society For The Philosophy of Science** ## **(Registration number: 267625) Balance Sheet as at 31 December 2020** |**Note**
**Fixed assets**
Investments
8
**Current assets**
Debtors
9
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
10
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**|**2020**
**£**
118,097
88,484
82,486
170,970
(42,298)
128,672
246,769
246,769
246,769|**2019**
**£**
114,162
87,423
118,205| |---|---|---| |||205,628
(48,368)| |||157,260| |||271,422| |||271,422| |||271,422| The financial statements on pages 6 to 12 were approved by the trustees, and authorised for issue on 27/09/2021 .................... and signed on their behalf by: ......................................... Dr James Read Trustee Page 7 ## **The British Society For The Philosophy of Science** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **1 Accounting policies** ## **Statement of compliance** The financial statements 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. ## **Basis of preparation** The British Society For The Philosophy of Science meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. ## **Exemption from preparing a cash flow statement** The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. ## **Going concern** The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. ## **Income and endowments** ## _**Investment income**_ Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregates similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. ## _**Charitable activities**_ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 8 ## **The British Society For The Philosophy of Science** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Tangible fixed assets** Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: ## **Asset class** Office Equipment **Depreciation method and rate** 25% straight line ## **Fixed asset investments** Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 9 ## **The British Society For The Philosophy of Science** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **Trade creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. ## **Borrowings** Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. ## **Fund structure** Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. ## **2 Income from charitable activities** |Share of surplus on sale of journal & membership fees
Other fees & sales
**3**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
115,958
-
115,958
**Unrestricted**
**funds**
**General**
**£**
18|**Total**
**2020**
**£**
115,958
-
115,958
**Total**
**2020**
**£**
18|**Total**
**2019**
**£**
112,084
2,939| |---|---|---|---| ||||115,023| ||||**Total**
**2019**
**£**
12| Page 10 ## **The British Society For The Philosophy of Science** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **4 Expenditure on charitable activities** |Grants, bursaries & scholarships
Journal costs
Annual conference
Other expenditure
Governance
Professional fees
Depreciation
Subscriptions
Management charge on investments
Trustee expenses|**Unrestricted**
**funds**
**General**
**£**
63,881
76,094
858
45
-
1,080
-
949
475
1,182
144,564|**Total**
**2020**
**£**
63,881
76,094
858
45
-
1,080
-
949
475
1,182
144,564|**Total**
**2019**
**£**
74,089
34,260
3,514
1,225
927
1,080
238
985
490
1,391| |---|---|---|---| ||||118,199| ## **5 Trustees remuneration and expenses** During the year the charity made the following transactions with trustees: ## **Dr Lina Jansson** Dr Lina Jansson received remuneration of £Nil (2019: £101) during the year. Travel ## **Dr Robert Northcott** Dr Robert Northcott received remuneration of £1,182 (2019: £1,217) during the year. Remuneration and expenses for the role of assistant ## **Dr Johanna Wolff** £Nil (2019: £73) of expenses were reimbursed to Dr Johanna Wolff during the year. ## Travel ## **6 Taxation** The charity is a registered charity and is therefore exempt from taxation. ## **7 Independent examiner's fees** During the period, the fees payable (excluding VAT) to the charity’s independent examiner are analysed as follows: |Independent examination|**2020**
**£**
900|**2019**
**£**
900| |---|---|---| Page 11 ## **The British Society For The Philosophy of Science** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **8 Fixed asset investments** |**8**
**Fixed asset investments**||||| |---|---|---|---|---| |Other investments
**Other investments**
**Cost or Valuation**
At 1 January 2020
Revaluation
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019
**9**
**Debtors**
Other debtors
**10 Creditors: amounts falling due within one year**
Other creditors
Accruals||**2020**
**£**
118,097
**Listed**
**investments**
**£**
114,162
3,935||**2019**
**£**
114,162| |||||**Total**
**£**
114,162
3,935
118,097
118,097
114,162
**2019**
**£**
87,423| |||118,097||| |||118,097||| |||114,162||| |||**2020**
**£**
88,484
**2020**
**£**
1,080
41,218
42,298||| |||||**2019**
**£**
1,080
47,288| |||||48,368| ## **11 Related party transactions** There were no related party transactions in the year. Page 12