1 

## **Malacological Society of London AGM 2025** 

## **FINANCIAL REPORT for 2024 by Honorary Treasurer, Dr Tom S. White** 

## **Finance for the financial year ending 31st December 2024** 

Firstly, I would like to express my sincere thanks to my predecessor, Dr Katrin Linse, for her careful stewardship of the Society’s finances, which have continued to remain stable during 2024; the Society is in excellent financial health, with plenty of reserves should income become an issue. 

The Society again enjoyed an overall gain of £19,545.16, largely due to the profit share from the _Journal of Molluscan Studies_ and gains in the Fixed Interest and Investment funds.  Higher expenditure on awards and meetings was made in 2023 (compared with previous years), and this trend continued in 2024, drawing mainly on income from Oxford University Press. 

As of 31[st] December 2024, the total funds of the Malacological Society of London are £581,559.53, of which £118,362.81 are in cash deposits, and £463,196.72 in its COIF investment funds.  During 2024, no funds were transferred from the current account to savings accounts. 

In 2024 the main charitable activities were the funding of ECR and SCR research projects (total cost of £11,865), supporting students to attend conferences (£2,842.94) and the Molluscan Forum (£1,510).  The Annual Award was also made (£500).  These figures are lower than in 2023 due to several recipients claiming their awards in January 2025, due to the timing of the awards round. 

Separately, the profit-share from the publication of the _Journal of Molluscan Studies_ ( _JMS_ ) in 2024 provided the Society with most of its income to its cash account, contributing £42,399, a slight reduction on the £44,092 received in 2023. The Editor of the Journal, Dr Dinarzarde Raheem, and the Assistant Editors are to be commended for their hard work contributing to the publication of our scientific journal. 

In 2024, travel and meeting related spending was £2,243.06 / £5,819, a reduction on the much higher spending in 2023 (£9,815 / £8,577) and in line with expenditure in 2022 (£2840 / £6423). Overall expenditure was lower than in 2023, but given the gains being made in the investment funds it will be worth discussing how to balance the need to maintain a financial cushion for the Society with an uplift in spending for future awards rounds. 

## **Dr Tom S. White 30 April 2024** 



## **Malacological Society of London Accounts 2024 (01.01.2024 – 31.12.2024)** 

## **Income** 

|**2024**|**Subscriptons**<br>Subs(direct)<br>Subs(Stripe)|**Subscriptons**<br>Subs(direct)<br>Subs(Stripe)|**Proft share (Journal)**|**Book sales**|**(NHBS)**|
|---|---|---|---|---|---|
|Jan|£495.00|<br>£1,165.71|||£2.40|
|Feb|£45.00|<br>£604.43|||£0.60|
|Mar||£132.36|||£0.60|
|April||£111.96|||£4.20|
|May||£24.42||||
|June||£112.23|||£16.20|
|July|||||£5.40|
|Aug||£43.67|£42,399.00||£3.00|
|Sept||||||
|Oct||£43.34||||
|Nov||£43.34||||
|Dec||||||
|**Totals**|**£540.00**|<br>**£2,281.46**|**£42,399.00**||**£32.40**|
|**Expenditure**||||||
|||**Awards**|||**Publica**|
|**2024**|Research Awards|Travel Awards|Annual Award|JMS||
|Jan||£598.00||£887.00||
|Feb||||||
|Mar||£630.38||||
|April||£814.56||||
|May||||||
|June||||||
|July|£4,365.00|<br>£300.00||||
|Aug|£4,500.00|<br>£500.00||||
|Sept||||£887.00||
|Oct|£3,000.00|||||
|Nov||||||
|Dec|||£500.00|||
|**Totals**|**£11,865.00**|<br>**£2,842.94**|**£500.00**|**£1,774.00**||
|Furtherance of objectves||**£24,147.52**||||
|Cost of Council meetngs||**£2,565.57**||||
|Management and admin||**£1,632.57**||||



**Assets (as of 31st Dec. 2024)** 



|COIF Investment Fund<br>COIF Bond Fund<br>COIF Deposit Fund<br>Bank (HSBC Current Account)<br>**Total**|£355,633.44<br>£105,234.12<br>£2,329.16<br>£118,362.81|£355,633.44<br>£105,234.12<br>£2,329.16<br>£118,362.81|
|---|---|---|
|||**£581,559.53**|





## **COIF investments** 

|£584.36<br>£642.79<br>£742.97<br>£667.84<br>**£2,637.96**|<br> <br> <br>|
|---|---|
||<br>**£47,890.82**|



|**atons**|**AGM/Forum**|**AGM/Forum**|**Council**||
|---|---|---|---|---|
|Malacologist|Travel bursaries|Catering|Travel to meetngs|AGM dinner|
||||£260.30||
|||£2,134.80|£239.12|£322.51|
||||£212.65||
|£159.04|||||
||£1,510.00|£3,361.74|£1,251.38||
||||£279.61||
|**£159.04**|**£1,510.00**|**£5,496.54**|**£2,243.06**|**£322.51**|





**Admin** 

|**Admin**|||
|---|---|---|
|Bank charges<br>Payment charges Accountant|||
|£11.00<br>£17.00<br>£11.00<br>£11.00<br>£0.24<br>£11.00<br>£17.00<br>£11.00<br>£1,308.00<br>£11.00<br>£11.00<br>£79.97<br>£11.00<br>£47.78<br>£11.00<br>£11.00<br>£30.58<br>£11.00<br>£11.00<br>**£132.00**<br>**£192.57**<br>**£1,308.00**|||
|||**£28,345.66**|





**Malacological Society of London HSBC Bank account running totals** 

|Date|Type|Descripton|
|---|---|---|
|2-Jan-24|CR|Hutchinson John SUB FOR H REISE|
|2-Jan-24|CR|SUBSCRIPTION BAYNES AL|
|2-Jan-24|CR|MR GRAHAME GRAHAME JW&E|
|2-Jan-24|CR|DG HERBERT SUBS HERBERT D G|
|2-Jan-24|CR|CLEMENTS R&J PAM|
|2-Jan-24|CR|ROLLINSON D+EA SUB|
|2-Jan-24|CR|TURNER L M V03|
|2-Jan-24|CR|ANTHONY WALKER WALKER|
|2-Jan-24|CR|Dussart Georges G B J DUSSART|
|2-Jan-24|CR|Cameron Robert|
|4-Jan-24|CR|N H B S LTD MAIN|
|5-Jan-24|CR|JARVIS S S C JARVIS ANNUAL|
|5-Jan-24|CR|Stripe Payments UK STRIPE|
|8-Jan-24|CR|Stripe Payments UK STRIPE|
|9-Jan-24|CR|Stripe Payments UK STRIPE|
|11-Jan-24|DR|TOTAL CHARGES TO 20DEC2023|
|11-Jan-24|CR|Stripe Payments UK STRIPE|
|12-Jan-24|CR|Stripe Payments UK STRIPE|
|15-Jan-24|CR|Stripe Payments UK STRIPE|
|16-Jan-24|CR|Stripe Payments UK STRIPE|
|17-Jan-24|CR|Stripe Payments UK STRIPE|
|18-Jan-24|CR|Stripe Payments UK STRIPE|
|22-Jan-24|CR|Stripe Payments UK STRIPE|
|23-Jan-24|CR|Stripe Payments UK STRIPE|
|24-Jan-24|CR|Stripe Payments UK STRIPE|
|30-Jan-24|BP|Katrin Linse MSL CM 17 Jan|
|30-Jan-24|BP|Harriet Wood MalacSoc|
|30-Jan-24|BP|John Grahame MSL CM 17 Jan|
|30-Jan-24|BP|DINARZARDE RAHEEM Bangalore|
|30-Jan-24|BP|DINARZARDE RAHEEM JMSEDITSUPPORT1/2|
|30-Jan-24|DR|MSL TRAVEL AWARD RBD30014KH2S0YYO W M K|
|30-Jan-24|DR|MSL TRAVEL AWARD RBD30014KH2S0YYO PAYME|
|1-Feb-24|CR|MALACSOC NOBLE LR|
|1-Feb-24|CR|Stripe Payments UK STRIPE|
|2-Feb-24|CR|Stripe Payments UK STRIPE|
|5-Feb-24|CR|Stripe Payments UK STRIPE|
|6-Feb-24|CR|Stripe Payments UK STRIPE|
|7-Feb-24|CR|Stripe Payments UK STRIPE|
|8-Feb-24|CR|N H B S LTD MAIN|
|11-Feb-24|DR|TOTAL CHARGES TO 20JAN2024|
|15-Feb-24|CR|Stripe Payments UK STRIPE|





|16-Feb-24|CR|Stripe Payments UK STRIPE|
|---|---|---|
|20-Feb-24|CR|Stripe Payments UK STRIPE|
|29-Feb-24|CR|CCLA Investment Ma CO3075139,Malacol|
|1-Mar-24|BP|J D Ablet AGM recepton|
|7-Mar-24|CR|N H B S LTD MAIN|
|8-Mar-24|CR|Stripe Payments UK STRIPE|
|8-Mar-24|BP|J D Ablet AGM 2024 dinner|
|8-Mar-24|BP|Benugo I8043010001906|
|8-Mar-24|BP|Alan Hodgson AGM 2024|
|11-Mar-24|DR|AGM 2024 EXPENSE RBD11034JE6A8LMP FERNAN|
|11-Mar-24|DR|AGM 2024 EXPENSE RBD11034JE6A8LMP PAYME|
|11-Mar-24|CR|Stripe Payments UK STRIPE|
|13-Mar-24|DR|TOTAL CHARGES TO 20FEB2024|
|4-Apr-24|CR|N H B S LTD MAIN|
|5-Apr-24|CR|Stripe Payments UK STRIPE|
|5-Apr-24|BP|Louise Firth MSL AGM|
|5-Apr-24|DR|MSL AGM2024 RBD05044HS8TVKXS JUAN SEMPE|
|5-Apr-24|DR|MSL AGM2024 RBD05044HS8TVKXS PAYMENT CH|
|9-Apr-24|CR|Stripe Payments UK STRIPE|
|11-Apr-24|DR|TOTAL CHARGES TO 20MAR2024|
|23-Apr-24|CR|Stripe Payments UK STRIPE|
|12-May-24|DR|TOTAL CHARGES TO 20APR2024|
|23-May-24|CR|Stripe Payments UK STRIPE|
|30-May-24|BP|Stafords Inv 32941|
|31-May-24|CR|CCLA Investment Ma CO3075139,Malacol|
|6-Jun-24|CR|N H B S LTD MAIN|
|11-Jun-24|DR|TOTAL CHARGES TO 20MAY2024|
|11-Jun-24|CR|Stripe Payments UK STRIPE|
|14-Jun-24|CR|Stripe Payments UK STRIPE|
|20-Jun-24|CR|Stripe Payments UK STRIPE|
|4-Jul-24|CR|N H B S LTD MAIN|
|5-Jul-24|DR|CRICHARDS RBD05074E9H4TYV5 CASEY S RICHAR|
|5-Jul-24|DR|CRICHARDS RBD05074E9H4TYV5 PAYMENT CHAR|
|5-Jul-24|BP|Alan Hodgson CM 22062022|
|5-Jul-24|DR|GSPAGLIARDI RBD05074EKH4WGAO GIADA SPAG|
|5-Jul-24|DR|GSPAGLIARDI RBD05074EKH4WGAO PAYMENT CH|
|5-Jul-24|DR|LANDRO MSL RA RBD05074EAH4WYKH SONIA MA|
|5-Jul-24|DR|LANDRO MSL RA RBD05074EAH4WYKH PAYMENT|
|5-Jul-24|DR|NURHAYATI MSL TG RBD05074G6H4Y343 PUTRI|
|5-Jul-24|DR|NURHAYATI MSL TG RBD05074G6H4Y343 PAYME|
|5-Jul-24|BP|John Grahame CM 12062024|
|8-Jul-24|DR|NURHAYATI MSL TG RBP08074IVHET7EP HSBC Ba|
|12-Jul-24|DR|TOTAL CHARGES TO 20JUN2024|
|6-Aug-24|CR|Stripe Payments UK STRIPE|
|7-Aug-24|BP|GBJ Dussart Malacologist Feb24|





|7-Aug-24|BP|Lauren R Eggleton Eggleton Travel|
|---|---|---|
|7-Aug-24|DR|ISHII MSL ECRA RBD07084JFK5DQDC YASUTO ISH|
|7-Aug-24|DR|ISHII MSL ECRA RBD07084JFK5DQDC PAYMENT CH|
|7-Aug-24|BP|Andrew Torres Torres ECR Award|
|7-Aug-24|DR|MARTOS ECR GRANT RBD07084EAK5EHHD BRIAN|
|7-Aug-24|DR|MARTOS ECR GRANT RBD07084EAK5EHHD PAYM|
|8-Aug-24|CR|N H B S LTD MAIN|
|9-Aug-24|DR|ISHII MSL ECRA RBP09084HSKBPMRK HSBC Bank|
|11-Aug-24|DR|TOTAL CHARGES TO 20JUL2024|
|21-Aug-24|CR|OXFORD UNIVERSITY|
|30-Aug-24|CR|CCLA Investment Ma CO3075139,Malacol|
|11-Sep-24|DR|TOTAL CHARGES TO 20AUG2024|
|18-Sep-24|BP|DINARZARDE RAHEEM JMSEDITSUPPORT2/2|
|1-Oct-24|DR|NG MSL R AWARD RBD01104G7P6JQWX UNIVERS|
|1-Oct-24|DR|NG MSL R AWARD RBD01104G7P6JQWX PAYMEN|
|12-Oct-24|DR|TOTAL CHARGES TO 20SEP2024|
|16-Oct-24|DR|BREURE MSL SRG RBD16104JEQHBC00 A.S.H. BRE|
|16-Oct-24|DR|BREURE MSL SRG RBD16104JEQHBC00 PAYMENT|
|18-Oct-24|DR|MARTOS ECR GRANT RBP18104EKQQHE4G HSBC|
|22-Oct-24|CR|Stripe Payments UK STRIPE|
|11-Nov-24|DR|TOTAL CHARGES TO 20OCT2024|
|11-Nov-24|BP|Alan Hodgson CM 02102024|
|18-Nov-24|BP|Benugo I8043010002237|
|20-Nov-24|CR|Stripe Payments UK STRIPE|
|28-Nov-24|BP|PHILIP R HOLLYMAN Forum Tr awards 24|
|28-Nov-24|BP|PHILIP R HOLLYMAN Forum Travel Accom|
|28-Nov-24|BP|Alan Hodgson Hodgson Forum 2024|
|28-Nov-24|BP|T S White Forum Consumables|
|29-Nov-24|DR|SPAGLIARDI FORUM RBD29114HTUIBD4Y GIADA S|
|29-Nov-24|DR|SPAGLIARDI FORUM RBD29114HTUIBD4Y PAYME|
|29-Nov-24|BP|Harriet Wood MSL Forum Travel|
|29-Nov-24|BP|Rowan Whitle MSL Forum Travel|
|29-Nov-24|CR|CCLA Investment Ma CO3075139,Malacol|
|6-Dec-24|BP|Victoria Sleight Sleight Forum 24|
|12-Dec-24|DR|TOTAL CHARGES TO 20NOV2024|
|23-Dec-24|BP|Imogen Cavadino Annual Award 24|





||**Opening balance:**|**Opening balance:**|**£98,817.65**|
|---|---|---|---|
|Reference fle(s)|Paid Out|Paid In|Balance|
|||45.00||
|||45.00||
|||45.00||
|||45.00||
|||45.00||
|||45.00||
|||45.00||
|||45.00||
|||45.00||
|||45.00|99267.65|
|||2.40|99270.05|
|||45.00||
|||92.85|99407.90|
|||67.76|99475.66|
|||24.42|99500.08|
||11.00|||
|||287.46|99776.54|
|||268.99|100045.53|
|||88.24|100133.77|
|||87.46|100221.23|
|||24.42|100245.65|
|||68.54|100314.19|
|||44.12|100358.31|
|||23.99|100382.30|
|||87.46|100469.76|
|001 receipt and payment note|24.60|||
|002 receipt and payment note|94.20|||
|003 receipt and payment note|141.50|||
|004 receipt and payment note|298.00|||
|005 receipt and payment note|887.00|||
|006 receipt and payment note|300.00|||
|ENT CHARGE|17.00||98707.46|
|||45.00||
|||131.46|98883.92|
|||88.24|98972.16|
|||67.33|99039.49|
|||23.99|99063.48|
|||24.42|99087.90|
|||0.60|99088.50|
||11.00||99077.50|
|||92.96|99170.46|





||131.91<br>99302.37<br>44.12<br>99346.49<br>584.36<br>99930.85|
|---|---|
||007 receipt and payment note<br>100.80<br>99830.05<br>0.60<br>99830.65<br>44.12<br>008 receipt and payment note<br>322.51<br>009 invoice and payment note<br>2034.00<br>010 receipt and payment note<br>239.12<br>97279.14<br>011 receipt and payment note<br>630.38<br>NT CHARGE<br>0.24<br>88.24<br>96736.76<br>11.00<br>96725.76|
||4.20<br>96729.96<br>44.12<br>012 receipt and payment note<br>366.89<br>013 receipt and payment note<br>447.67<br>HARGE<br>17.00<br>95942.52<br>24.50<br>95967.02<br>11.00<br>95956.02<br>43.34<br>95999.36|
||11.00<br>95988.36<br>24.42<br>96012.78<br>014 receipt and payment note<br>1308.00<br>94704.78<br>642.79<br>95347.57|
||16.20<br>95363.77<br>11.00<br>24.17<br>95376.94<br>43.94<br>95420.88<br>44.12<br>95465.00|
||5.40<br>95470.40<br>015 receipt and payment note<br>1500.00<br>RGE<br>17.00<br>016 receipt and payment note<br>125.80<br>017 receipt and payment note<br>1500.00<br>HARGE<br>17.00<br>018 receipt and payment note<br>1365.00<br>T CHARGE<br>17.00<br>019 receipt and payment note<br>300.00<br>NT CHARGE<br>17.00<br>020 receipt and payment note<br>86.85<br>90524.75<br>nk PLC SCS 0000001.25322484 /TMS/ / MS/202<br>11.97<br>90512.78<br>11.00<br>90501.78|
||43.67<br>90545.45<br>021 receipt and payment note<br>159.04|





|022 receipt and payment note<br>500.00<br>023 receipt and payment note<br>1500.00<br>HARGE<br>17.00<br>024 receipt and payment note<br>1500.00<br>025 receipt and payment note<br>1500.00<br>ENT CHARGE<br>17.00<br>85352.41<br>3.00<br>85355.41<br>PLC SCS<br>13.78<br>85341.63<br>11.00<br>85330.63<br>42399.00<br>127729.63<br>742.97<br>128472.6|022 receipt and payment note<br>500.00<br>023 receipt and payment note<br>1500.00<br>HARGE<br>17.00<br>024 receipt and payment note<br>1500.00<br>025 receipt and payment note<br>1500.00<br>ENT CHARGE<br>17.00<br>85352.41<br>3.00<br>85355.41<br>PLC SCS<br>13.78<br>85341.63<br>11.00<br>85330.63<br>42399.00<br>127729.63<br>742.97<br>128472.6|
|---|---|
|11.00<br>128461.6<br>026 receipt andpayment note<br>887.00<br>127574.6||
|027 receipt and payment note<br>1500.00<br>NT CHARGE<br>17.00<br>126057.6<br>11.00<br>126046.6<br>028 receipt and payment note<br>1500.00<br>CHARGE<br>0.24<br>124546.36<br>Bank PLC SCS<br>13.34<br>124533.02<br>43.34<br>124576.36||
|11.00<br>029 receipt and payment note<br>98.45<br>124466.91<br>030 invoice and payment note<br>3192.00<br>121274.91<br>43.34<br>121318.25<br>031 receipt and payment note<br>1510.00<br>032 receipt and payment note<br>205.60<br>033 receipt and payment note<br>282.70<br>034 receipt and payment note<br>169.74<br>119150.21<br>035 receipt and payment note<br>471.00<br>NT CHARGE<br>0.24<br>036 receipt and payment note<br>133.99<br>037 receipt and payment note<br>59.40<br>667.84<br>119153.42||
|038 receipt and payment note<br>279.61<br>11.00<br>039 receipt andpayment note<br>500.00|118873.81<br>118862.81<br>118362.81|
|**Closing balance:**<br>**£118,362.81**<br>Total exp.<br>Total inc.<br>**28345.66**<br>**47890.82**||





|||INCOME|||
|---|---|---|---|---|
|subscriptons|subscriptons (Stripe)|proft share (JMS)|payments from COIF funds|book sales|
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|45.00|||||
|||||2.40|
|45.00|||||
||92.85||||
||67.76||||
||24.42||||
||287.46||||
||268.99||||
||88.24||||
||87.46||||
||24.42||||
||68.54||||
||44.12||||
||23.99||||
||87.46||||



45.00 131.46 88.24 67.33 23.99 24.42 0.60 92.96 



131.91 44.12 584.36 0.60 44.12 88.24 4.20 44.12 24.50 43.34 24.42 642.79 16.20 24.17 43.94 44.12 5.40 

43.67 



|||||3.00|
|---|---|---|---|---|
|||42399.00|||
||||742.97||
||||||
||43.34||||
||43.34||||
||||667.84||
||||||
|540.00|2281.46|42399.00|2637.96|32.40|





EXPENDITURE Bank charges Payment charges Council travel exes JMS editorial stipend Malacologist 


**----- Start of picture text -----**<br>
11.00<br>24.60<br>94.20<br>141.50<br>887.00<br>**----- End of picture text -----**<br>


17.00 

11.00 



322.51 239.12 0.24 11.00 17.00 11.00 11.00 11.00 17.00 125.80 17.00 17.00 17.00 86.85 11.97 11.00 

159.04 



||17.00||||
|---|---|---|---|---|
||17.00||||
||13.78||||
|11.00|||||
|11.00|||||
||||887.00||
||17.00||||
|11.00|||||
||0.24||||
||13.34||||
|11.00|||||
|||98.45|||
|||205.60|||
|||282.70|||
|||471.00|||
|||0.24|||
|||133.99|||
|||59.40|||
|||279.61|||
|11.00|||||
|132.00|192.57|2565.57|1774.00|159.04|





Travel Awards Other Awards Forum Travel AGM/Forum CateAdmin (accounts) 

298.00 

300.00 



100.80 2034.00 630.38 366.89 447.67 1308.00 1500.00 1500.00 1365.00 300.00 



500.00 1500.00 1500.00 1500.00 

||1500.00||||
|---|---|---|---|---|
||1500.00||||
||||3192.00||
|||1510.00|||
||||169.74||
||500.00||||
|2842.94|12365.00|1510.00|5496.54|1308.00|





**Independent examiner's report on the accounts Section A                        Independent Examiner’s Report** 

|**Report to the trustees**<br>**On accounts for the year**<br>**ended**<br>**Set out on pages**|Charity Name<br>Malacological Society of London|Charity Name<br>Malacological Society of London|Charity Name<br>Malacological Society of London|
|---|---|---|---|
|||||
||31/12/2024|**Charity no**<br>**(if any)**|275980|
|||||
||(remember  to include the page numbers of additional sheets)|||



I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2024. 

**Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** 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 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** I have completed my examination.  I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- the accounts did not accord with the accounting records; or 

- the accounts did 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. 

|**Signed:**<br>**Name:**<br>**Relevant professional**<br>**qualification(s) or body**<br>**(if any):**<br>**Address:**||||**Date:**|31/10/2025|
|---|---|---|---|---|---|
|||||||
||Richard Stone|||||
|||||||
||FCCA|||||
|||||||
||35A Whitehill Road|||||
||Cambridge|||||
||CB5 8LU|||||



1 

**Oct 2018** 

**IER**