Charfty numb•r. 276503 BRITISH PIIYCOLOGICAL SOCIETY UNAuD￿ED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 WR Partners Protecling your future. BRITISH MYCOLOGICAL SOCIErY CONTENTS P8ue R•fvr•n¢• ar￿ admlnl$tMtiv• detsil¥ of tho Soci•ty. its Tru5tO8s •nd advls•rs Tntst••s' r•port IndtpeAdent•xamln•fs Y•port Statsmwtt of Ilnancljl a￿vItI09 3- 11 12-13 14 Balance $h•ot 15 110ts8 to th• flnin¢l•l Jtsiements 16-29 BRITISH MYCOLOGICAL 80CIETY REFERENCE AND ADMINISTRATIVE DETAILS OF THE SOCIETY. rrs TRUSTEES AIID ADVISÉRS FOR THE YEAR ENDED 31 DECEMBER 2013 TNsts•$ Prof•ssorJ Quinn. General Secret Professor E Blgnell. P￿ident lappointtd 1 January 2024) Mr D Harries, Vice- P￿Ident lappolnted l January 20231 Professor P Dyer, T￿3¥ure[ lappginled 1 January 20241 Dr M Brock, Publicalions Offic•r Dr A Medinavvaya, Fungal BK)fogy Research Committee Chair Irnsign•d 1 January 2023) Dr L Dthes, Fungal educal.on and Outreach Commlttee Chalr Ir08Ignod 1 January 2023) Ms C Hobart, Fleld Wc¢4¢gy and Con$ebvalion Commltt¢¢ Chair (resigned 1 January 20231 Dr B Douglas. Fteld m￿l¢¥Y •ThJ Con$*JNati¢n Committee repre8entatNe Ireslgned 1 January 20231 Dr M Ram8d21*, Fung81 Edu¢atity) & Outroath OffKer lappointsd 1 January 20231 Profe￿￿ D Bebber, Fungal Bidogy Res•arch omcw lappolntsd 1 January 20231 Mr M Yeo, Fidd Mycotogy & COnservat￿n Officer lapwinted 1 January 20231 Professor N Mogan lffj$igne(11 January 20231 L Seward lappolnted 1 January 20241 Profe380rA J S Whaley. Intemational Advisor (appointed 1 January 20241 Profes$or G M G8dd Ire$lgned 2 O¢tober 20231 Charity r•gist•rèd numbgr 276503 Prfnclpal offic• CIO Royal Society of 8101 1 Naoroll Str••t London WC1X OG8 PBge 1 BRIT18H MYC0LOG￿AL SOCIETY REFERENCE AND ADMINISTRATIVE DETAILS OF THE SOCIETY. ITS TRUSTEES AND ADVISERS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countaJ)ts WR Partners Chartered Accountsnts Belmont House Shrewsbury Busine$$ Pork Shrewsbury Shropshlre SY2 6LG Bank•r* Roy818ank of Scotland 15 Foregate Street Chester CH1 1HD Tilney Bestlnvest BaskeNlle House Centenary Squa Birmingham 812ND Advisor on Int•rn4tlonil Profassor Anthony Whal Initiatives Page 2 BRMSH MYCOLOGKAL 30CIErY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees presenl their annual report together¥￿ the financlal ¥tatem•nt$ o1th• Society fgrth• perirpJ from 1 J￿u¥ry 2023 to 31 December 2023. ObJKllv49 and actlvttlgB •. Poll¢l•• and obJocllv•s The S￿￿ty$ objectives Bnd aims are to promote mycdogy in ￿1 asp8cts. In setting objectives and planning for actNities. the Trustee¥ have gN¢n due Con￿deral0n to 9$neral gUKlan¢¢ publlshed by the Chority ¢ornmissb)n relatlng to public benefft, knduding tho guidance 'Public benefft.. running tharty IP821'. A¢tlvltlM und•rt&k•n lo •chl•v• oWctlY•o The aclfvales of the Sod¢ty ¢an be $¢por*d Into five maln areas.. pubNcaUon$. M￿lIngS, Support for research. r•pr8s•nta*"on of mycol)gy both nationalty and intemationally and educHtion whith indudes information lor the general public. c. Maln a¢tlvlU•s und•rtak•n to fvrth•r th• So¢*'¥ pwios8s forth• public bw Th• Charity Cc4nmission sets c￿rt key princApEes of publi¢ benefft a¥ folows.. - there must be an idenffiable public benefft or benefjts., and benefit rn[￿t be to th¢ publi4 or a section of the publ￿. It is c¢)nsiderEd that the gf thg S¢xiety 1$ in 8ecorflan¢e ￿ these key principles as the Societys ollects state that its charitsble purpose 16 the advancement ol edu¢8llon, so tha Society's aims ar8 dernon81rat8d for publi¢ b¢nefiL other ex￿￿natOry material about the So¢Aety rAn be found on the Internet at www.brrlmycoJ80c.or9.U Page 3 BRITISH MYCOLOGICAL SOCIETY TRUSTeES' REPORT ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2023 Aehièvements and perforniance Main a¢hlevem•nts ol tha 8ocl•ty Charltabl• aetlvltl•# A summ8ry tsfthe work ofthè s￿ety in 2023 18 Set out belc¢A*. The sclentffic joum81$ of the British MycdogKal Society are published under ¢ontraCt￿th the publisher, Elsevier. This generates a susta1ftab￿ Incomo that is us•d to fund wenffi¢. educallonal and outreach activitie$ within and beyond the SoL?ety. Fungal Biology (Chief Edfior Geoffrey M Gaddl publishes 0ri9in81 contrfbuttorts kn all fields ol basic and applied rejearch fungi and lungus-likè organisrn5 (including filomentous fungl, yeasts, Ilchon fungi, o¢my¢etg8, and sllme mouldsl. Th¢ journal aims to wblish scientific papers aeross a broad range of my¢c4ogical toycs, emrkna5i5ing the importanc• of lungl In many arnas of modern biological 5clences res8arch. Fungal E￿kngy publishes d￿'tIeS on fungal population dynarnI￿, adaptation, ev￿ul0n, rol• in ￿$y$l•￿ nctionlng, nutrlanl ¢ydlng, de¢omposititsn, carbon allocation, ecophysitsjogy. intr& and Inler-spedfic mycdial interactr'ons. fungusvplant, fungu>invèrtobr8t8 and fungus-microbe inieractions and many morè tow¢s relatsd to the ecolggy ol lungi. In 2023, Benjamin Wolfe successfulty took over the ro￿ as Edttor In Chief of Fungal Ecolcgy and en8ureil Ihat the jOLtmal maintained its high ￿ndard and reputatw. Fungal Interact*?ng (Senior Editors Geo1frey M Gadd, Angel Medina Vaya Malthias Brockl focuses on interacllons of fvngi wth nabjrzl and 8ynlheti¢ habTta13, and how swh interadons impad on many global155ues including food security anrl animal health. soil htalth and ferblity. waste decoMpos￿"0n and trèatment, biodetwioration, bioremediation, and biofvel PrOdu￿10n among others. Th16 Joumal li an open ax88s joumal with no sub$¢ription fees forlournal acces& Manu$¢rlpt $ubmi8sion rates lo this newjoumal remalned low over 2023 arwj th8 Society wl reV￿W the viablty of thejoumal in 2024. Fungal BK)l¢Jgy Rewews provide¥ an internat￿nal forum for high quaity review arbdes wlhin the research a￿a ¢f fvn9al biology. It covers dl flelds of fungal biobgy, both fvndamenlal and applied. In 2023. Jan Dllkstethuls wasjoirted by lrna Dwuzhinino 8¥ ¢QvSenior Editor. The Society self-publishes the joumBI Field m￿09Y, edited by Gtsoffr•y Kibby and covering topi¢$ of Inte￿$t to •xp•ri$nced r￿Id mycologists. Dlgtsl coples contlnued to be available free of charge to BMS members and prtnt copies available by subscripth'on at g MUC￿reduced cost than previousty. Non-rnernber5 couhl also PU￿hase digital or print issues and artides. Whlle there 59 gn overall ge¢d •￿ep￿nce of tlis joumal among BMS members. the Sts￿ety will re￿eW the current puWi$hing system and may introduce chan9e¥ tg in¢rea$e the ac¢•$$ibilty of the content tc+ the wider ￿mmunty anil g•nèral pubk. The BMS Newsletter, ol whKh the￿ were four issues. c0n￿nuèd a$ a di9ital, member-only publication durhlg 2023, supp￿"ng information on meetings and actNitie3 of the Society and its m•mbors, opwtunities for a￿essing benefits and resources, announcements of a¢hIe￿ments and awards. reports and news linking Ihe n8lb)nal and intemational mycologieal community. A monthty email for members was introduced, highlighting BMS activities such as upcem419 events, 9rants available, upcomiw deadlines. news and extemal opportunth.es ol intere¥t. The BMS ￿bSrte IvMw.brftmycolsoc.org.ukl provides information and detsils of to ace8ss Ihe Soaety's activthes and events under Ihe main themes of publications, fungal bidogy research, educath)n and outreaeh. and field mycology and eonsemtitsn. A w¢b¥te waB created earty in the year for UK Fungu8 Day, énabling Page 4 BRITISH MYCOLOGICAL SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 A¢hiw•m•nts ond p•rfomwn¢• l¢onlinu•dl lh• competh'Dn5, o￿nts and infonnation to b• mcrf• ￿reCtNafy shar•d knith a broad. publ￿ audi•nEo t•ftrf•, during and afterthe event A fvll programme of monihly, O￿lne BMS Talks took pla￿. tg ralse owwenes¥ of all types of mycology 8 broad audi8n¢•. Taks, whieh aT• fr•e to attend and open to al, moved from open me•tings to We￿nar- stye del￿ery, and ir￿luded the partiapation of a Chalr to Introduc8 tha spèakèr and manay Q&A. Taks continued to allTact gcod numbers ¢f attendees, *ith an overall increase in partlcipation CoMpa￿d to the prevtou¥ year. N0￿member r¢gl8lr3nts were Invitéd to find out m¢)rn about BMS membershlp. attractlng a number of new members to joln the Souety. The Su￿e$S of the BMS T•lb programme once again secured its ccrtinuathjn Into the folkJvAng yèar. The knety ha8 a number of soa81 8ccoJnts. 6hariro aThJ disseminating Infommtion fram areas of the Societys VA?￿ vath members and olher intemational followe￿. Three X ITwttety accounts highlight inf0m￿t￿)n from 8118ro8$ of Ihtr BMS, indvding rè$aarch papern from the Soclety'g loumals, events, nèws and jobs of interest to the r￿Jea[ch community. promotion of UK Fungus Day and myte4ogfrfoeu¥d $torie$ from the new8 and popular medk4. The nUM￿r of followers ofthese X ac￿Unts continued to increase Ihroul)out 2023. The UK Fungus Day Instagram 8c¢ount and UK Fungus Day Facebook page focused on Sh￿ing Infomiation bout Ihe phtttography tompèbtson and othèr UK Fungus Day athvlilag. Th• BMS Facèbook Group acti as a forum for ug•r8 to share photos and commènts on maerofuNJl and identificath)n. The Group's membership, vthich rose from around 28.000 lo almsl 40,000 over the course of the ar. 18 optn to all *Orld%￿d•. InfomiAOon aboLrt BMS events and resoureeg is posted to the Group, and indivSduals requesting help fvngus Identkficalon are encOuTr￿￿ tg thare Ihelr gI￿￿1ry&S vlth the Facebcok Group to stok agsistanco. Fun al Biol Research Codordinoted by the Fungal BK)logy Research Committee IFBR Committee}, fhe BMS promotes and supports fvngol biok>gy rese?￿h. rxealing 8 communty of 8eademle, industrlal and oth•r profession&1 fun￿1 b￿DgY researcher8. The Briiish Mycological Souetys Annual Saentific Meeb'ng 2023 took plac¢ in New￿$lIe upon Tyne in S•ptembw. wlth a th•mt focu8•d on "F￿gaI Interathons.. The event featured keynote lectur•s, off•r•d talks and poster presentsb'ons Ihat at*lres8ed varlou¥ asFeCt5 01 fungal biology. in¢￿dIng food Be￿rIty, envlronrnenlal SU5tainability, and biDttchnDlogy. Th• mtsab'ng induded a dNerse range of topics such a8 bJn9al pathogenesis, interaction$ Y￿1h bacteri3, and the Impact of fijngi on acosystems. The mtseting's social program indudad nei*tyrkin9 events and a visii tts Wfvm Brewery, fo$tering Collaboration and communi￿bullding among partldpants. Early-¢areer re8gar¢hers took part In a on•4ay Student Research Conl•r•rne• prior to thè main mee￿n9, prowiling them the opportunity to present Ihpir work ond engage wlh e¥tsbli¥hed MY￿10￿¥sts. The day Sndud•d prèsèntèd 8•sslons on publL8hlrwJ and fungal educaUoTh and outreach. Ester Gaya from the Royal Bot8nl¢ Gardens. K￿. UK, was honoured with the 2023 Tony Trinci Avrdrd Her ledure, *iUed Filling Ihe gop¥ of the fijnga tree of life in a eollectic*)s-based instrtub"on," focused on the Importance of understanding fungal dNersty and taxonomy. She emphasiled the role of comprehensive tttllecti¢n$ in 8dv•n¢1￿ our kn¢Mledgè ol furwJal specoes and their evoluth"onary relatK)nships. Lynna Boddy. Cardrfl Unrverslty, UK, received the John Webster Award. Hw lecture Furoal inleraciions in trees" defved into the complex interactions tseN￿n fvngi tynd th¢ir arbor•al hosts. Sho highlighted 1h? ecobgical slgnlffcance of Ihese InteradEons, parbeulaty in the context of forest health and disease management. The Presidenvs Awwd is given to a distinguished mycobgi8t, sekcted ty Ihe Prpwdent. for their ￿tstandIng ontril￿ty.0n to m￿oI091¢al lo the S￿iety. The 2023 reclplent ￿d$ Jan Dllkstethuis, Senior S¢ientist at the Westerdijk Institute. Jan has published over 100 ￿$•J￿h artl¢l&$ co￿nn9 a dlvwse rnnge 01 areas from Page S BRMSH hlYCOLOOICAL 80CIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2023 A¢hiav•m•nts and perfonnan¢e Iconllnu•dl fijngi in the bu1￿ environmenl to ihe mode of aeticn ot anlrfun9p13. In addthon, he has served as Senior Editor of the BMS loumal Fungal Blology R¢views for many Ye￿8, th hls hard %%Drk slgnificanty ¢onthhJlSng to its auecÈs$. Th¢ Howard Eggins AwaTd for Eady Career Myeolo915t5 wa8 given to the besl posters and best tslks pr•$•nted by earty career mycologlsls at th& Annud S¢v&ntlfi¢ Meeting. Wlnners werè Sarah Mèlreithèr (L•1￿￿ - HKII. Aybuke (Newcasue UnNersilyl, Joseph Violet (Universty of Nottinghaml, Amelia Clark Ilmp•rial Colop Londonl, Juwon Samuel Afolayan (Nottingham Trent University}, and Emma Agnew IMRC C¢nlr• for med￿￿1 My¢ologyWnlversity of Exeterl. The FuNJal Biology Research Committee was joined by Sian Deler. Fungiride Target Identification Sa•n Lead al S￿genta IIJKI. Sian is an active rnernber of the British Society for Plant Palhdogy IBSPPI, PToyiding BMS vAlh strong ¢onnedons in the plant protection inditsty. Four Re¥earch Granls were awarded to.. Alessandrn Da Sifvk Dantas INew¢8slle University) for'Fungal ag•lNJ as a driver of anYmKrobial re$i$lancp in Candida species.; Benjamin Gregson Iunlvergty of E$sèxl for'lntemal transcribed 5pa¢er (ITS) primer evaluaiion for fijnyal metabarcodirg in soils": Carolina Coelho Iunmrsty ol Exeter) for 'Pathog•ni¢ fungi in Akheimer's dtsea6e'. can Cryptoco￿$ neofoman$ infe¢ti0n potentiate neuroinflamma15on In muthe rnodds of Ajzheimer's Disease?.. Matthia$ Bro¢k (University of Noth"nghaml for 'B￿echnologIcal application of I￿gaI expressN)n systems for Ihe heterologou$ wodu¢tion tsf invertebrate urotoxins.. Four Undergraduate Student Vacatton Bursaries *tre awarded. Enpbling undergraduate s￿dentS to gain hands- on ￿searCh expwlence. Thdr projeds co¥ered research on %%rJod decay lungi, sexual ¢y¢le$ in Fusawium, entthcation of Baudolnta. and drug resistsnce in Candida. Eunice Jgne¥ Bequest Fund (now renamed the Eunts Jtsnts PDstyraduate Fund) 8warrJs were 9Nen to.. Sofia Hain, to atten¢J the Keystom Symposium 'N*uroimmune interxuons". from basK mechanisrns to novel Iherapeub"c directigns.; Cloudia Lopez Rodriguez, to attond thè 14th Intemational Congress ol Engineering and Food in Nantes IFrancel', Lauren FaNèll. to attend the International Congres$ of Plant Pathology in Lygn., L Humber( to attend Earfy Career Syinposlum.. Hames*ng Chomiral Ecobjy to Achieve Food Seujrity US Educth"on Th8 Fungal Education and Oytreach ComrnKtee's primary oblèetivo is lo raise awareness of fvn9i and fungal 3¢ienc£ auoss all edueational levels, from enlhusiasts and families to higher educa￿On and busines8. The commrttee comprises a proactive group of academKs. field my¢ologi$ts, educators, and enthusiasts. Efforts were made this year to improve engagement I￿81neSS wnmunits'es wth am interest in myEology,' vMlh rthv rnernber5 of a UK Fyngus Day worklng group ha¥lng a fuThJal blot￿hnologY background. UK Fungus Day actNities ry)ntinu?d lo promote dfvwse aspocts ol fvngal KionrR includlng research. field rnywlogy, health, medicine, agriculture, food se¢urtty, pharrnaceuticaL8. food and beverages aThd arL The worknng group organised a ran9e of in*erson and onllne events indud0 0nlin¢ C￿*r-ta&I1ng and "open labs. ot UnNerS￿eS. The actimties of a rnnge of extemol group$ and organisations across the country were prornoted- feedback indicated at least 5000 peo￿¢ took part In events on the day across all arpas of the UK. A new card garne was develoFed'. Fungus Facts p￿nt Palhogen$. aimed at the 14+ age group. The Photography Comp•tition receN•d 8ntri•8 across Ihree age categortes and Image5 from past winners were displayed al cafes and theatres to showcase the beairty of fvngi. Lynne B¢xldy or9anised a successful onlirte syrnposium of intemational mycolo9y speaker?, with seS￿on$ covering thr** lime-zones. SOC￿ media contsnued to pky 4 $ignifi¢ant rok Sn promoting all UK Fungus Day act￿lI1e¥ and events, wth posts hlghllghtlng many aspecti of mytology, ￿¢lL￿ling financial facts and frightful fuThJi. Members of th? comrnittee Pro¥￿ed Comment in the natlonal media on a nurn￿r of mycological issues- nol le881 the huge interest in Cordyceps Inspired by the relea8e of Ihe'The Last of Vs.. Page 6 BRIT18H MYCOLOGICAL SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Achi8vorn•nts and p•rlonnanc• Icontinu•dl The new Massee Arts Grant VAS awarded to reclplenls. A panel of Ivdges compdslng acadaml¢ rtr8tsrchers, fiekl M￿0￿9181$ and m¥M￿r$ Ot ths art8 Community ovaluated over 300 athications. Bi¢Arti8t Anna Dumitriu eollaborated with Carol Vetheeeke-vaessen and the Applied Mycdogy Group at Crdnfidd Univer5tyto devebp and create an innovative new body of sculptural arfv￿rks tg inspTr audien￿ Bnd in¢reage publlc awareness ofthe Importance of mywtoxlns In our sodety. Potter Jenny Ashby Involved 1000 people In the making C*f 1000 ceramic fungi Ihal wer* txhilxtgd al W¢$lbury Wiijiife Part on Saturd¥y 7 Octobgr, to host the InstslLatK)n of the ceramic rnushrooms and to celebrate UK Fungus Day. Dwlng 2023, commltt•e member Chrfslan Taylor ewdluated the Key Stages 3 aTrJ 4 ojrrlwla acro88 dl exam board¥ In En9land and Wal¢¥, hvJhllghJn9 areoj where fvrol ore Induded 8nd tho?e vA)ert fvngl could be used lo illustrale key biological phenomena. An inibal review of BMS'S educalion-rekgted resources- past and pres•nl - was undertaken to map the eontentto th8 currfeu￿m. and Identfy where new resources are Mqulrèd. Th• BMS continues to t* a stakeholJ•r in the dev•lopmÈnt of a new GCSE in Natural History ￿lIh Indica*on$ thot fvngal biology will te in¢￿11ed in the currivJlum ¥1 some level. Collaboration MISAC (Microbiology S¢h)ol$ A￿sary CommNtoel for cnmpaUOon8 and •durAtlond proleds conlnuad. Fheld M olo and ConseNatx*n The Fleld MYCKJIO￿ gnd COr￿Vation Committee coordinate8 Aclivthe8 relating to lungal c￿n￿rvA￿0n, biodivÈr8ity and fièld mycology. The etsmmmee alao supports the BMS Reeording NÈtwork of local fungus groups and organises a programm8 of field mee￿ng$ and workshops. It lalses th and advises local. na￿On￿ and int•rnational constmtion boditis and rnanagès th• Furvjal Records Databasè of Britain and Ireland IFRD81). Thè ¢ommlttéè or9anised foul mè•ln98 durfng 2023. The sprlng and stsnMn•r ma•lngs took pla¢e in Nantlle, G￿￿edd IAprlll and Scarborough, Yortshlre {October). A microscopy wDrkshop was held In Barnsley In Jvn• and an as¢omy¢ét• workshop vrds hek1 Sn Amblesfde In August. AJI meetings were w•ll att•nd•¢J. There are adve local frjrws groups In mary parts of the UK. onllM meetlngs wtre hekl durfng Ihe par to faciltste wmmuni¢glion bets￿en representatives of thèse groups and di5wss h¢)w the BMS best gUPPOrt the groupg, actmhes. The next blennlal in-peTSon meeting of Recording Gro￿ Leaders ￿11 be held In summer 2024. Local fiJngUS groups contirtutd to makè a major tt*thbuUon to DNA barcodlng. support•d by funding from the BMS. Outcorne8 of this work include(l over 150 new entrie¥ on the GenBank sequence datsbase and 12 publlcations. In addltlon, fungal speclmens ￿1￿cted durtng BMS meerfngs and sent to mycdogists at the Royal Bolanl¢ Gardens Kew, ￿ntributed wgnificonly to Kew'$'Darnin Tree ol Lrfe" prolecL The Fungal Records Database of Brifain and Ireland IFRDBII n¢w holds noady 3 million records and prowdes vafuable infonration on the histolic and current distribubon of fuThJi across the UK. During 2023. a facllty was dded tts the FRDBI u$*rs to an¥￿t the fungl assoelatsd wth sp•cific plants ond othar orgaN$ms. Thg Fi¢ld Myc¢logy AwBrd bvas presented to Brian Spooner for his contlnued encourggement 8nd support of ¢o- operation betsyeen Kew and the BMS Ileld rnycology comrnunty, and hls ￿llI￿gnesS lo share his expert16e others over rnany years by tLrtoring numerous workshops for th• BMS. id•ntfying swmens sent by keon amateur mycologists and en¢owaging them to further theirwork. The Autumn Open Mee￿￿9, or9antsed by Marun Bl¢Jortondo Ilmperi81 C¢lk9e and Royal Botan1¢ Gardens, Kewl. took p￿ce in the J(xJrell building at Kthv and induded talks on a broad rarye of topics from national and International $￿aker. The matting, vthith w8¥ fm to att8nd. 8ttr*t•d an 8udiènce of around 100, wlh a variety ol backgrounds and interests in my￿lOgY. Page 7 BRITISH IIYCOLOGICAL SOCIErY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Achlevements and p•rfomi*ncè {eontinuedl lnternth.onal Re esentation Prom The BMS rewesents all are&$ ol mycelow both in the UK aNJ intemationalty through iivolvement in nthn81 aTr international cornmittee$ and socleties. including th• Royal Socièty for BIDlogy, the Federalon of European Microbiological Sooekn"es, the Intemathtin￿ Union of Microbiologi¢al Societies and the IT￿ell￿tional ￿01091¢al Asseeiab"¢)n. During Ihe yèar, the s￿letY pro￿ded finarKial support to Int•mati¢)no1 eonfèrences awards, as frJl¢)w8'. 161h European COnfe￿nce on FLtng81 Geneties 2023,. Gordon Research Seminar on Mycotoxins and PhycolO￿n$ 2023., Intemational Conference on Yeast G•netics & Mlerobidogy 2023., FEMS Physiology of Ye83t and Filwnentous FuThJi 2023", the Nick O Read lrnaging Award 2W23. AcbvitieB in 2023 focused on those oulllnèd In the Str8tegic Plan. This three•year plan was Impltrmented in early 2022 and 15 centred on th￿￿ Strategic PrtorrtSes ￿th the overarching aim to allow the Soc¥ety to promote fung81 8TherKe nabonalty and internationally. A W￿rk￿an of SCtN￿.es aligned to the th￿ priorltitrs d•tai15 Specir actions, those responsible, and measures ol success. The aims are 19 ensure the Society's long-temi sustslnabllty and resilience, improve key resources and 8&rvlces, broaden outreach and raise the profi￿ of Ihe BMS, rts member5 vo￿nteerS, and support the growing ¢omtnunity of mycobgy experts, enthusiasts newcorners. A key plece of work undertaken in 2023, to addre$8 the Strategic Priority ol strengthening govemance IMpffj￿ng 0￿ratIOnal procedure$, was a re￿eW ol the Society's Con$tilution. The updated constith.on was approved by members at the 2023 AnN31 General Meeting and adopted immediatety. The aim of this piece of work byds to bring the constitution up to date and to •n$uf• It supportgd. rather th￿ hI￿dered. the effecuve operations of the Society. A key change induded a rewsed BMS Coun(il stwcture to eornpiije the roles of President, Pr•sid•nt El•ct, Vice PreBiden( General Sacretary, Tr8asurer, Intsrnalional Advisor. Chair6 of the Commitiees. and two Council Member p05ts. All councll rnembers are Trustees of the s￿ety and have equal re5￿)n￿bil￿Y fer thè Sotaaty. Olher chan9e$ induded updat8S to memb•rship ¢ategor￿S and joining the Soc¢ety, darification of several clauses, and the indusion of new dauses to all￿ for electronic communicatbjn. In addTb"on, the BMS I￿r•al•d its staff base the recruth)ent C+f an Events and Member¥ Services Officer wh? p)ined the Sooety in JaThJary 2023. Janel Quinn a3 Prewdent chaired ￿¥0 Couneil meeling5 In March lonllnel and October Ihybridl. and the knnual General meeb.ng lonlinèl in October. The AGM was followed by gu•st speaker Matt Figher., ihere was good attendan¢e. Sev*nleen Small Grant projects were fiJnd•d, supportlng a range of actIV￿e$ Induding conference attendanee, running and attending wtyk¥hop8. development of resources for schools. artd resour¢e$ for bcal kn9US recorthng group¥. The Benglactor3' Medal was awarded to Nomian Porr•t, BMS Adminl¥tratOT. for conslstent and l•li4b￿ s8Thlc• to the 8MS a￿1 for his unlailing sour¢e of hdp and support to members and BMS Councll. Ntsmian'$ numerous activities induding rnanaging the day.to4ay ffinance8. recort15 and storage, a¢fjng as secretariat to the BMS Counal an¢J Commrtiees. and k$epSng seNce8 UP to date have ensured the smooth runnlng of the Society for many years. Pag• 8 BRITISH MYCOLOGICAL SOCIErY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Flnanclal r•vl•w a. Going ¢one•m After mBking appropriate enqulrie&, the Trustees have a rea*>n£ble Èxrettatitin that the Socaety has adequate resources to ￿ntInue In operatlonal exlstsnee for the foreseeabbe future. FOT this reason. they contlnue to adopt the goin9 concem b4¥i$ in preparin9 th• )Inanci81 $tat•ment8. Furthor detsil$ r¢gardSng the adop1ion of the going concem basls can be fouThJ in the accounting policies. IK R8•erv•s policy The general fund is a reserve used for the lOng-ts￿ development of the SoC￿ty and also for unexpected events $u¢h as a sKJnifi¢anl drop in incoming resources. The general lund shown in the firwKial ststements VAS £1.870,28012022.. £1,746.6761 and 1$ considwed wffio¢nl ta meet F4anned expendknjre. Reserve8 are malntslned al 8 pwdenl lev¢1 to ensure 1h81 th& Sc¢W would not be In￿￿0n1 11 vAndh)g Ilp occuN•d for any reason. Reserves are balanced betsveen flxed Interest securities, equities and cash d•pO￿ts. The resin.cted lunds are held in accordance th the purposes set in note 16 to the fjnanLial statem￿1$. Fr8• reserves after acC￿unI1ng for fixed asset investmentg al 31 Oecernber 2023 ￿re £615,983 12022.. £756,497). ¢. PrinG5W Ind un¢ort4lntl•¥ The Trustees have assessed the major rlsks to whlch Ihe 1$ expo$ed, in parti¢ul8r Ihoye related to the operatp)ns and finan￿5 of th¢ Sr¢iety, and •re satisfied that $yst¢m$ wil procedures are in pla¢¢ to mityatg e>posure to the major risks.. d. Printip*l fundlng The prfndp•l fundlng $our¢•8 of the Soelety are publlcatlons. Inve8trnent Income, subscfiptbns And m•e11ng$ ar￿ registration charges. A minor amount of income is generated through grants received. donations from rporate bc#Jies and the sale ol postcards and leèflet5. The Counul ot the So¢￿ty revth quarterfy the publkabon subxription rates that are approved annually 81 the Soaety's AGM. In¥Mtm•nt pollcy and obloctl¥•s The Tru$tees eonstdered the most approprfate pollcy for In¥￿ng fund8 and has fou￿1 a mlx of fixed Interest seujnles. equitie$ and deposits best rnel its requirements for ttyjth income and cawtal growth. The S￿iety ha8 a pollcy of not Investlng in companleg Inapproprlate eniAronmental activfaes. The Societvs assets have been invested in a fvnd offering a relum profile which demon¥tr?l*$ Jgw vol#tilty and iner¢rr￿￿tal gains. The fund manag•rs, Evekn Partnws. ar8 charg8d to investthé SociWs assets as best determkned. Pag• 9 BRMSH MyCOLC￿￿AL SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENOED 31 DECEMBER 2023 StructUFB. govgm•rK• •nd manag•m•nt a. cons11￿tiOn Bnts"sh Mycologleal Soclety l# a karned 8oci¢ty 8nd was *slabli8hed in 1896. The Society is ¢ontrolled by it8 governing dO(￿Ment. a deed of ifust. and constliutes an unineorpor8ted dwrlty. number 276503. b. hl•thod8 of appolntment or election of Tru¥tee• The M￿o9ernent of the Sorjety is the ￿Sponsibl￿ty of the Trustees are elecaed and tOknOPt*d urxler the tsms ofthe Trust deed. c. OryJni•atio￿I •tructur• and d•clsloTrmaklng pollchs The governar￿ of the Society is thmugh Council eon$i8ting of th• honorary offKers and, in any year. up to 12 elected ¢oun¢il mom￿r¥. d. Pollclg8 odoptod for th• Inductlon and tralThlng of Tn*i• New trust•e$ matrt olh•r trustees at the first Counol meeting of the year. Council members are advlsed that a$ Trustèes they have legal Obligat￿n8 under charty and are dlrected to the Appropdate docum$nts on thè Charity commissi¢￿ web*t•. They are also advised that the go¥emance and management procedures of th• Society are laid oui In the constitution IBMS and Charlty CommlsslDn ￿EbSite) and directed to th? mo¥t recent annual financ4al retwn ly•ar4nd accounts) filed on the Charty CoM￿S￿on website. •. R•latsd pjrty rg1otion•hi Fungal Blology Umlted is a company limlted by guarantee and collects admSnistralitin char9e8 from the So¢￿ty. Fungal Bblogy Limited's dtTectorg are Profe380r Paul [￿eT and Professor Janet Qulnn. ge10 BRITISH IIYCOLOGICAL SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENOED 31 DECEMBER 2023 8tstwn•nt of TnMt••s' rvJponslblllUe> The Trustaès ar• résponsible for prep￿9 the T￿￿tee8, report and the fin¥n¢lo1 stslements kn appl1c￿e low and Vnlted KlTrJdom A￿D￿ntIng Standa￿$ IUnRed lQngdom Generahl Accepted ACcO￿lJ￿9 Pradicel. The appkable to charitie¥ in Engknd & Wal•s raquires the TA￿te65 to prepare flnanclal $latemgnls for •a¢h finandal vthth glv8 a true v*w of the stste of affafirn of thè Sochty and of rts incoming r•sourc•s and aFvlicaticfs of resources, includlng ts iffom¢ aro expendrture. for that period. In p￿pa￿l￿ these finarKral statements. th• Trust•ès arn rnquir•d lo: salect sultable ac￿unti￿ pcliue8 and then 8M)lyth8m ¢on$l¥tsntty', ob8¢Ths th¢ method8 and prfndt4es ofthe Charities SORP IFRS 1021.. makelud9ments and aceountlng estimates that are rea60nat4e and Fxud¢nt. state whther appli¢abl& UK A¢¢ounUng Standards IFRS 1021 have been fd10￿*d, ¥ubi?c4 to any material departures di8¢k¥sed and explaM)ed in the financial statements., prepare the financ￿ 8tstemenl$ on the eoncem bas￿ unles5 r( IB inappropriat? to preBume thal th? Swkty vlll c4ntwiue in bU￿￿e￿. The Tru8t¢¢s ￿ r•spon8lt49 for keepSng adequato xcounling ro¢ord$ that a￿ $uffi¢i•nl to $trtr)w and •XF4ath the SorAetys transaction$ and drs¢lose ￿ reasonoble accuracy at any time the financial position of the Sc and enabf¢ thom to •nsur¥ that the fflnanckil $tatsmerts cornply ￿1th thè Charities Aet 2011. th• Charity (Accounts and Re￿￿$) Regulations 2008 and the provlsion9 of the Trust deed. They are also responsibkn ft>r saf•guordinll the Assets of the Sodety and heno for18knng re3$onablè stops for th• pr•ventlon and dèt•cJon of fraud and otsr irregularilles. Apprmd by order ofthe members of th¢ board ofTru•l•es and swJned on thelr behall by.. Elo44Q. H. i¥roi•ssor E Blgii (Presthntl reasurerl Date." I'ts, IL).a4 P4e11 BRITISH MYCOLOGICAL SOCIErf INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Indep•nd•nt Examlnerfs R•port tg th? Trusts8s of 8￿11$h Mycologlethl So¢1￿Y Ilhe SOCW'I I r•port to the char6ty Tru¥lee8 on my examination of th• ?¢counts of th• Soti•ty for the year eniled 31 December 2023. R￿Pon¥(bIll￿M *nd B4¥i• of R•pDrt As the Truslees of the Soclèty you are Te6pon$lbltr for ihe preparation of the accounts in accordanc• ¥￿th the requirements olthe Charrties Act 2011 Ilhe 2011 Ad). I report In r¢8pect of my examlnallon of the Soelety$ accounts cath•d out under secth)n 145 of the 2011 kt and in carying out my examination I hove fr41owed th? applKable Directi£￿8 by the Charity Ctsmmi3sion und•r s•etion 145151{bl of the 2011 Ac£ Page 12 BRITISH IKfCOLOGICAL SOCIErY INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Ind•pend•nt Examln•rf• 8tatgm•nt Sinu th• Soci•tys gross I￿￿￿e exceeded £250,000 your examiner rnust be a member of a body listed in section 145 of tho 2011 A¢t. l ¢onfimi that l am qu8llfiad to undortakè the examlnatlon b8cAUS• l am a membor of the ICAEW, which is one ol ihe listed b¢xlies. I have complet•d my •xamknalOon. l eonfim 1hat no matt•rs have come to my In conr*ction with the examlnatlon gthng me cause to believe that in any maleria respect accountiw I￿￿￿S were not kept in respect of the Soaety as required by seclion 130 of the 2011 Act" or the the￿Unts do not accord vAth Ihose records.. or tho accc4Jnts do not comply the applIca￿e ￿qUIrements wn¢ernMg th¢ form 4￿j content of accounts strt out in Iho Chariti¢¥ IA¢¢ounts an¢S Report9} Re9ulotions 2008 other than any requSrement that the accounts give a Irue and fairf view which is not a matter con8id¢red a5 part of ￿ independent examin?tion. I ha￿ no concems and have Come a(*oss no other matteTS in connec*cn with the ex￿In￿lOn to attention shoukl be draym in this report in order to engble a proper understanding of Ihe artount$ to be reathed. Bookkeepin9 from a seperat• WR Partnèrs offic• havè bèan provk1ed to the Charity during thè y•ar. Thè bookkeeplng 8eMce is independent of the independent of the indopendent &xamin•rf¥ work. l ¢onfim ttot Ihe FRC'S Revised Ethical Standard has been approprlatety apF41ed. Thls report 18 made sokly to the Sodetys Trustees, as a body. In accordance Part 4 01 the Charities (Accounts an¢J R?portsl R*gulatrons 2008. My work has been unilertaken so that I mlght State to the Socletys Tru$tee8 those matters l arn required to state to thern in an Independent oxaminor'$ ￿pOrt and for no oth*r purpose. To the fullost •xt•nt pemkied by law, I do not ac¢Ept or assume respons*)ility to anyone otherthan the Socw and the Society'$ Trustses a8 a bJdy, lor my *ork or for this r*porL &gnèd'. S J TW￿diS Bsc FCA DChA WR Partners Belmont House Shrewsbury Bu5in8Ss Park shro￿bUry Shr¢pshir* SY2 6LG Page 13 BRITISH MYCOLOGICAL SOCIErY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 A$ restated Total runds 2022 Unre•trict•d funds X123 R•8trl¢tsd nds 2023 Total funds ZOZ3 Not• kn¢om• from: Donatlons and leg4¢i8$ Charitabl• acts.vi￿eS Investments 5,490 291,439 21923 5.490 291.439 28,923 255, 165 15.003 Tolal lfi¢om• 325052 326.852 274, 168 Exp•nditure on.. Ralslng fijnds Charitabk• adiwti? 11A34 262,162 11,334 266.162 9,479 206.811 4,000 Total •xp•ndltur• 273,496 4,000 277A% 216,290 N•t Incom￿{exp6nd1tUT•l bgfor• n•t galnWIIosse61 on Invèstsnonts 9ainslllossesl on inveslmfrnts S2.356 71.250 1401)01 48,386 71,250 57,878 (148,227) N•t movgment In funds 123.606 140001 119,806 (90,349) R•tonclllatlon ol funds." Total funds tsrought forward Net Th)v•rnent in funds 1.746.676 123.606 144225 140001 1.890,901 119,806 1,981,250 (90,349? Totsl fvnd• ¢arrt•d forward 1.870,282 140.225 2.010,507 1,890,901 The Stat•ment of Financ4al Activrfias indudes all gains aThJ loss8s recognls•d kn ihe year. The notes on pages 16 to 29 form part of these ffinonctsl ¥talement$. Page 14 BRITISH IAYCOLOGICAL SOCIETY BALANCE SHEEr A8 AT 31 DECEMBER 2023 As rest8ted 2022 2023 Flxed ••••ts Tangitle assets Investsments 12 13 9.913 1344386 980,646 13¥299 990. 179 stocks Debtors C8$h at bank #nd In hand 14 15 3,750 236.878 3.750 219.031 717. 131 713AO8 939.912 Creditor5'. amounts fallkng du• *lthh one 16 {27.1001 (39, 190) 756.208 900,722 Totsl •s••ts k$$ cuTh•nt labllltlo8 1010,607 1.890,901 Totsl ngt as•ets 2,010,SQ7 7.89Q,9Ql Ch•rfty fund• Rgstrlcted fund8 Unrèstrict•d funds 17 17 140.228 1.870.282 144,225 1,746,676 Total funds 1010.507 1.890.901 The finanGial $t•t¢ments were appmved and authon"8ed i$8u• by the Twstees gnd 8yJned on their beh8N ty. Prof•¥•or E Blgno (PrnsSd8nt} Prof•J¥or P iiyvr (rreasurer) Date: I b.l O'lii The not•$ on p89•1 16 to 29 form part ofthese fina￿ra1 statemen Page 16 BRITISH MYCOLOGICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 G•ner41 inlorniatlon The Socw is a learned 8ocaety ond was esta￿l$hed in 1896. The So¢kty is controlkd by its goveming document, a d¢od Of Intst, and con8tltut88 an unirwrthd charlty, numbèr 276503. Accounllng poTl¢l•s 2.1 Balis of prep3ra¢lon of flnan¢lal slat•m*nts Thè financial 8tslernents have been pr•pared in accordance wlh the Chan￿eS SORP IFRS 1021- A￿oUntIng and Repothng by Charities.. Statement tsf Recomrnended Practic• applicable to chariyes pr¥parin9 their accounts In accordan￿ wilh the Financial Reporting Standard applicable In the UK and Republk of Irdznd IFRS 1021 leffectNe 1 January 20191. the Financkal Reporting Stand*d applicatAe in Ihe VK and Republlc of Ir¥land IFRS 102) and the Charfl￿$ Act 2011. Br￿Sh Mycologi￿1 So¢iety meets the rjeffinition of a pu￿1£ benefit entity under FRS 102. A86ets arwj 11abil￿.8s are In￿allY reetsgn13ed al h16torical C￿$t or transaction v￿ue unless oth•Ms• stated in the relèvant accounting policy. 22 Incom• All income is r•cogThsed once the SocSety has entimement to the Incom•, It is probable that the income will be received Bnd the amount of income receivabk ran te measured rokn"at4y. Grants are induded in the Staternenl of Financial Activ￿"t$ on a recewable basis. Thè bala￿e of income rtt•Svèd for 8peufic purposes but not expended during Ihe period is $hovm in the relewant fund$ on the Balance sheet. Where Incorne is re¢￿ved in advance of entrtkment of rèceipt. its recognrtion is dèfÈrred and induded in u•dltors a¥ ¢Jeferred incom•. Whgre enliuement octurs before income is received. th¢ inccr ob$olot¢ and ￿0W￿rnOVIng stctks. 2.8 D•btsr8 Tradg Olher debtor6 are recogn188d at ihg 8erflement omount after ary trade dh¢ount offered. Prepayments are valued at the arnount prepaid n•t of any trade di9￿Unts due. 19 Cash at bank and in ￿nd Cash at bank tnd in hand indudes cash and short-tarm highly IiquKI Investments wFth a sh¢Jt ma￿rity of Ihroe monihB or le6$ from the date of o¢qUisilion or opening of1he depostt or 8lmll* account. 2.10 LiablIltl￿ and pro¥lslons Liabilitlo$ are re￿gnISed ￿en there 19 an obligation al the Balance sheet date 98 ¥ re¥uli of a past event, rt is probable that a transfer of econom￿ b8n8fit will be required in settlement, and Iho •rnount of th¢ setllement can be esllmated rdlabty. abilitses are recognised at the amount that Iht Society anti(4pates it wil pay to the debt or the amount il has reeelved as advanced pa￿nentS for the good8 or services rt must p￿￿￿e. ProwsK*ns are measured ¥1 the b?3t estimate of the amounts required lo Settle the obllgation. Wh¢re the èftet ol the time value ol money is material. the provision is based on tha present value of those amcunls, discounted at Ihe pre-tax di¥count rate that reflècts the risks specific to the Ilabllity. The unwinding of the discount Ss recogni5ed in the Statement of finanual actMb¢s as a ffnanrR cost. 111 Flnanelal instrurnents Th• Socw onty h8s financial assets and ffinan¢i?1 Iglxliti83 of a knnd that qualify a$ baslc flnanclal instruments. Basic financial in5trurnents are in￿'al￿ recognised at transaction value and subsequentty measured at thèir 8etNement value. 112 Fund aee0w￿n9 General funds are unrestricted lunds ¥thith ar¢ pv?ilable for use at Ihe discietion of the TNstees furtherance of the ￿neral objèctiv85 of Ihe Soclety and vthlch havt not been designated for other purposeg. RestsKted lunds arè funds vA)ich are to be used in ac￿rdanCe wth $￿tIfiC re5tiictions imposed by donors or whkh have been ralsed by the Society for pardcular pur￿8¥. Thtt costs ol rnising and administering such funds are ¢harge(l against the specific fvnd. The ain and use of each wslrided fijnd 1$ jet out In the notss to the financi￿ staternents. Investment income, g￿n$ and loss•$ alocated to the approprlate fvnd. Page 18 BRITISH MYC0LOG￿AL 80CIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 In¢om• from donatlons and1ggaGi u￿•*￿ct lund$ 2023 Totsl fund8 2023 Total funds 2022 Donallon$ 5,490 In¢orn• from eharftablo actS¥ltloS As rèst•led rotal runds 2022 Unr•Jtrictgd funds 2023 funds 2023 from tharitable aEbvth•s- Charftable afAivitieg Income from charitable activibes- Meetings and woEk¥hops Irtome from ekarftable actl¥lUes- Subs¢ription$ 218,204 37,203 36,032 218.204 37.203 36.032 209.895 17.113 32, 157 291,439 291,439 259, 765 Tota12022 As mstat8d 259.165 259. 165 PrfOr￿aT *dhwtlllont In prfor p8ri0ds royaty Income haB been ¥xourted lor on receipt rath•r than vknen accrued. A prfor year period adjustment hes been rnad* Its in¢ome and debtoys to corre¢X thi8. Rosew at Wct kn Resewws at 01101121Y22 tho y•af 3111212022 As psr slgned 2022 accounts CorTec¢ion of error As fastated 1.757.202 224.048 1.981.250 (75.533) 114.816) (9J.349) 1,881,689 209,232 P*Je 19 BRITISH MYCOLOGICAL SOCIETY NQTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPIBER 2023 Inv•stment incom• Unr•strl¢t•d fund$ 2023 Total funds 2022 funds 2023 Interest reeeivat4e DNidend receivable 19,610 9.313 19,810 9.313 2,531 72,472 28,923 28,923 15,OQ3 Total 2022 15,OQ3 15,003 Inv•$tmont managemènt costs Unr•strl¢tsd lunds 2023 Total lund5 2023 Tot funds 2022 Investment management fees 11,334 11,334 9.479 Totsl 2022 9.479 9,479 An41ysl8 of grants Grant# to Grnnts to In¥tltutlon$ kndlvldua 2023 2023 Total fund8 2023 rot rund$ 2022 Grants and sponsorshlp 7,916 61,369 59,286 46,968 Tot812022 3,695 43,273 46,968 The grants to inststutsons Indudes 11 grants of beNveen £200 and £2.720 to suppori graduate mst•rc* programmes. Fun9al DNA 8equencing and activrties for the UK Fungus Day. There were 32 grants lo Indivhluals ranging from £50 to £10.000 to fund graduate research projecis, publsh Mycolo9ical related infomation and promgtions, provid8 conference travel support provid¢ undergraduate surnmer project burseries, the Massee Art Grant, and in fvnding a small ffield proiect. Page 20 BRITISH MYCOLOGICAL SOCIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 AMIysiB of grants Icontinuodl Th¢ Sowty hos made the Ic41￿51n9 material grnnt$ to instituticns during the year.. 2023 2022 Nam• ol Institutlon Aberysfvrylh Universty Borders Fungu5 Group NE Fungus group Intemational Phycotox Natural History Mus¥um Shropshire Fungus Group l¥le of Man Fungus GTOUP Warwid($hire Fungus Group Glas9ow Universty istol University 1,919 750 500 1,260 21)0 41KI 51)0 500 2,720 3.300 7,916 5,060 (1,36S) other grants fc¢ ingtbtutiong 7.916 3.695 Anoty818 of 0X￿ndItUr0 an ¢harftsbk acllvhle8 summary by fund typ• Vnr•strlcl•d R•strS¢ted fvnds fvnds 2023 2023 As ￿$tated Tot81 2022 2023 Charilablè acti￿tl•S Grorts and 5p¥>nso￿￿p 206,877 55,285 206,877 59.285 159,843 46,968 4,000 262,162 4.000 266,162 206,811 Total 2022 as r&8taled 190.891 15.920 206,811 Pago 21 BRITISH MYCOLOGICAL SOCIErY NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDEO 31 DECEMBER 2023 Anoty4h of •xp•ndltur• by a¢¢ivlti Activltle ndertaken directly 2023 Grant fundlng ol actlvotlès 2023 As restated Support coats 2023 Total fund> Z1123 fvnds 2022 CharTtable activrtie8 GranWAwards 101.574 105.303 206,877 69.286 159,843 46.968 59.285 101,574 59.285 105.303 266.162 206.811 Tots12022 as rgststgd 80,915 46.968 74928 206.811 Tw$lee8 have undertaken a revlew of expenditure ¢at¢9orios durirvJ year to refiect the nabjre of thè costs. The 2022 fi9ure$ hove been restated to ensu￿ comparability. Overall eXp￿dIture remains un¢h#nged. Anatysis of direct cost8 As r&slated Charftablo •dlvitle$ 2023 Totsl fund8 2023 lunds 2022 PublKation$ Extemal rneetings F￿ld mycokigy FurvJ81 biology research Edu¢allon 22,341 4,446 34,326 38,020 2,441 22.341 33,900 4,964 12,247 26,331 3.4T3 34.326 38,020 2A41 101,574 101.574 89.915 Total 2022 as r8St8t 80,975 80,915 Page 22 BRITISH MYCOLOGKAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 Anatysls of expenditure by activities l¢ontlwod) Anatys55 ofsupport As restsled Tot funds 2022 CIMrttsb a¢tfvltles 2023 Totsl fund> 2023 D•prèdatlon Ingurance Subscryti'ons Bank charges Admin charge Wthte maintenance Printing and postage Travel and subs Sundry Evenlj offKer Gov•man¢e 104 2,862 4,524 2,S88 58,049 3,403 1.855 6,533 104 2.862 1211 2.725 2,304 49, 13Q 3, 103 1,732 2,872 2,681 2.588 66.04• 3,403 1,835 6.633 19,815 7.570 19,B16 7,670 11,170 105.303 106,303 78,928 Total 2022 a$ resl&ted 78,928 78,928 10. Ind•￿nd•￿t•xamITr•￿s r•munerntlon independent examineVs remunerats'on amovnts to an Independent examlner fee of £2.400 (2022 - £2,280), and non audit accguntsncy services of £5,17012022- £7 f, 770). 11. Trust•￿. remurnr•tlon and •xwts•s During the year, no Trustee$ re¢dved any remuneratoon or oiher benefits f2022- £NILJ. During the yew ended 31 December 2023. expenses totalling £5,717 We￿ teimbursed or paid directy to 7 Trustees {2022- £4.285 10 4 Trnsteesj. P•ge 23 BRtn8H MYCOLOGICAL SOCIErf NOTES TO THE FINANCIAL 8TAfEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 11 T•ngible fix•d a88•ts Compuier, 6¢1•nllfic and office Ubrnry •qulpm•nt Fungi Mod918 SIX Collèetlon Cost orwalu*tion At 1 January 2023 AddlJon$ 175fj 6.2n 4.111 416 13,644 At 31 December 2023 2.756 500 6,345 4.527 14,128 D•prncl•tlon Al 1 January 2023 Charge forthe ￿r 4,111 104 104 Al 31 December 2023 4315 4,215 Net ljook valu• Al 31 Deeember 2023 2.756 500 312 9,913 At 31 D8c&mber2022 2,756 6,277 9,533 Page 24 BRITISH MYCOLOGIGAL SOCIETY NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Flx•d asset Inyeslments Equlty Inv•slm•nts Cash Tolal Cost or valuation Al 1 January 2023 Additb)n$ Dispo￿ Rev8lualion$ •72.390 295.923 (98,0181 71,250 8,256 980,641 295,923 1103,4331 71.250 16.41S) At 31 De¢embw 2023 1.241,545 2.841 1.24386 N•t book val At 31 December 2023 1.241.545 2.841 1.244386 At31 December2022 972,390 8.256 980.646 1& Stocks 2023 2022 Equipment 3.750 3, 750 P•3e 25 eRITISH hlYCOLOGICAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. As m$lalgd 2022 2023 Du• withln om y•ar Trade debtoTs Amounts owed by r•lat•d •nblig$ Other debtors Prepayynents and accru•d income 217.965 1.628 4.719 12,666 209,488 7,632 7,917 236,878 219.031 Prlor y•aT •dJuBtm•nt In pwior p•riod8 royaty Incom6 h88 been o¢¢ounled for on rwAlpt raiher than ￿￿èrt a¢cru¢d. A prfor year period adjuslment has been made to i1￿me and debtors to correct this. Isee note 41. 16. Cr•ditors: Amounts f*lling due within on¢ y••r 2023 2022 Trade ¢redrtors Amounts to relthd enitieg Aeerual¥ and deferred income 7,210 4,736 27,244 27,100 27,100 39, 190 Page 26 BRITISH MYCOLOGKAL SIX1￿ NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Statement of fund• Statsm•nt offvnth- ¢urr•nt y•ar Reststed Bal8nc• at 1 JaNiary 2023 lance at 31 Galngl Dècèmbèr (Los•￿) 2023 Incomo Exp•ndltur• Unrgstrfctsd fvn Ge￿ra1 Funds- all fvnds 1.748.678 325A52 (273,4961 71,250 1.870.282 R•8trict•d fvnds Ram8bottom fijnd ConseNaUon fund Eunice Jones fund Ellzabeth Gray fvnd 4A75 6.969 127.781 4,475 6,969 123.781 {40001 144225 14.IKIO) 140.22$ Total of lund• 1.890.901 325,852 {277,496) 71,250 1010.507 Page 27 BRITISH MYCOLOGKAL SOCIEff NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. of funds Icontinu•d) Stat•mthrt oflunds. prlor y￿r Resfated 8è18nc8 81 l January 2022 Balan￿ at 31 Gainw Decembor (Loss6sJ 2022 InGom8 Expenditutv Unro8tricted fvndu Generd Funds 1,821,105 274, 168 (200,370) (148,2271 1.746,676 R•strl¢l•d lurtds Ramsbottcm fund Consemtion lund Eunlc• Jon•s fund Elizabplh Gray fvnd 4,475 6,969 143.701 4,475 6,969 127, 781 115,920) 160, 145 (15,920) 144,225 Tot41 of fundB 7,981,250 274, 168 (216,290) (148,2273 1,89Q,901 Re$trl¢ied FwKIg The Ramsbottom fund WAS establishod for the pThi5ion of ¢olour plwtes in the SOci￿s publutions. $$peually Mycdogical ￿Search. The C¢ns•rvathon fvnd was est￿l$hed for the furlherance of the protedon of rare fvng¥l ¥pe￿eS and their associated envirornents. The Eunl¢e Jon0$ fund w88 e¥tsbli8hed from a bequest and is to be used wilh dfjscretlon lo ald sludtntB whts require financial assistante Mth researd) int•nd•d to lead to the adrnission lo 8 degre8 of Doctor of Phlki$ophy. Th• &vLab&lh Gray fvnd wa8 a le9acy for BMS art.¥￿e$. Page 28 BRIT18H MYCOLOGICAL SQCIErf NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1& Analy$i¥ ol nèt •ss•ts ￿t￿•n fvnds Anatysls of not as$•ts h•t￿n fund5- current yg•r Unr•Jtrfet•d Ro1triet•d lund$ fund$ 2023 2023 Totsl funds 2023 Tarvjible fixed assets xed asset Investrnenls Current a88ets Creditors due within one year 9.913 1.244,386 843,083 127,1001 9,913 1244.386 783.308 {27,100} 140,225 T¢)tal 1,870,282 140,225 2,010,607 Analy•h of not a410ts b•tWon fund8. prlory•ar Unrestni*ed funds 2022 Resliscted fvnds 2022 Total 2022 Tanglble fixed assets Fixed asset investments Current a8SOts Creditors due wthin one year 9,533 980,646 794687 {39.190) 9,533 980,646 939,912 (39,190) 144,225 Total 1,746,676 144.225 1.890,901 R8lat•d party transaclions r￿gaI B￿￿00Y Limlted Is a Company limited by guarantee whKh colle¢ts 8dmiiislr8ts.on charges from the Sockty. tt's dlreciors are Profes59r P D￿r and Professor J Qulnn. Durfng the year the Soclety pald 8dmlnlstrallon charges of £56,04812022.' £49.1301 to Fungal Biology Limited. At th• balan¢e sheet date Fungd Biokgy owed th¢ Socaety£1,62812022." NIL). lycological Research editOTial payments amounting to £4,82412022.' £5,971 In tot￿) have b8en pald to three tNstees Profe6scr G M Gadd £3,15812022'.£4,5651, M Brc