2022-12-31-accounts

Accounts for the year ended 31 December 2022 together with the reports of the Board of Trustees and auditors

Company number: 1522897 Charity number: 281213

The British Ecological Society

Accounts for the year ended 31 December 2022

Contents

TRUSTEES REPORT
Who We Are	3
What We Do	3
Our Plans for the Future	11
Financial Review	13
Structure, Governance & Management	16
Reference & Administrative Details	18
Signature of the Report on Behalf of the Trustees	20
INDEPENDENT AUDITOR'S REPORT	21
STATEMENT OF FINANCIAL ACTIVITIES	25
BALANCE SHEET	26
CASH FLOW STATEMENT	27
NOTE TO THE ACCOUNTS	28

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The British Ecological Society

Accounts for the year ended 31 December 2022

WHO WE ARE

The British Ecological Society (BES) is the largest scientific society for ecologists in Europe with a membership of 7,000 ecologists in 122 countries around the world.

We support the ecology community at all stages of their careers through our journals, meetings, grants and education and policy work. The first ecology society to be established anywhere in the world, we have been the champion of ecology for more than a century.

Ecologists study the interactions of living things and their environment, providing new understanding of these critical systems as they are now and how they may change in the future.

Ecology enriches our world and is crucial for human wellbeing and prosperity. It provides new knowledge of the interdependence between people and nature that is vital for food production, maintaining clean air and water and sustaining biodiversity in a changing climate.

Our vision and mission

The objects for which the Society is established are to:

• Advance the education of the public in the subject of ecology as a branch of natural science;

• Advance and support research in that field; and

• Disseminate the results of such useful research.

Both our previous strategic plan which ran from 2020 to 2022, and our new plan for 2023 to 2025 are set within that framework and focuses on the science of ecology, the world and the people who live in it. We are seeing unprecedented change in the earth’s ecosystems and environment, and ecology is more relevant than it has ever been.

Our strategic plan is set in a context of great uncertainty for both political and publishing landscapes, and where science itself is being challenged in some areas. But ecological science is of growing importance in explaining how nature works and in finding solutions to some of the greatest challenges facing, and caused by, human society.

Our strategy sets out how we will work towards our vision in which nature and people thrive in a world inspired by ecology. As a financially robust and well-governed charity and scientific society, with our staff and our membership providing talent and energy in abundance, we are confident that we will lead positive change towards our vision.

WHAT WE DO

We deliver a wide range of activities and events to further our vision and mission. From publishing world-leading research and running conferences on cutting-edge ecological advances to raising the profile of ecology and fostering diverse communities, we aim to increase the impact of our science.

The following sections give a small taster of what we have achieved in last year, aligned to our 2020 – 2022 strategic plan.

COVID-19

The BES moved fast at the beginning of the coronavirus pandemic and our day-to-day operations switched seamlessly to home working. Like so many organisations, we had to consider all that we do in light of the virus. We have continued to make the health and wellbeing of our staff, members and

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all those involved in our activities the absolute priority. As the pandemic eased through 2022 we continued to adapt and develop our ways of working as well as be mindful of the pressures facing the ecological community. We have been delighted to help bring the community back together in person through our events programme during 2022 but also recognise the benefits that a hybrid approach have brought to all our work.

Major goal 1: Advance and promote ecological science and its applications

• We support new ideas, make connections and increase the impact of ecological science.

• We aim to be the best place for the ecological community to publish, meet and discuss their work.

• We directly support the generation of new ecological knowledge and its application through our grant-giving programme.

The BES and Royal Meteorological Society hosted a joint ‘Climate Science for Ecological Forecasting’ meeting in May, providing a new opportunity to establish interdisciplinary connections between ecologists, meteorologists, and climate scientists. Interdisciplinary science — bringing people with diverse backgrounds together — has enormous potential to improve our understanding of the world. Yet it is often seen as a challenge. There was little history of collaboration between climate scientists and ecologists so the conference organisers drew on the power of societies like the BES to bring everyone together. Dr Vicky Boult, one of the conference’s pivotal organisers, spoke on the opportunities and challenges this collaboration brings. “Anyone interested in the future of ecology and biodiversity should put ecological forecasting on their agenda. Funding is moving towards applied science, science with impact. Now is the opportunity to bring together these interdisciplinary networks.” Finding a common language was identified as a barrier during workshops at the conference. Scientific jargon was different between fields, and there was no knowledge of the data or techniques available in other areas. Since the societies’ joint conference in May, work is underway to address these barriers through the development of an introductory seminar series, glossaries of key terms, and a ‘database of databases’ to improve access to a decade’s worth of knowledge and data available in both ecology and climate forecasting.

During the year the BES embarked on an ambitious project to map out the ‘Future of Ecological Research in the UK’. Ecology can provide the evidence we need to halt losses in nature and help mitigate the effects of climate change, benefiting our world, our wellbeing and prosperity. This project canvassed ecologists across the full breadth and diversity of our UK community to develop a unified vision of the grand challenges for ecology and how they can best be met. It is the first time the community and its stakeholders in the UK have come together in this way to collectively examine what is needed to take ecological science forwards. The focus of this project was on ecological research needs within the UK; a future project will similarly examine priorities for international ecological research. The report is due to be launched in Spring 2023.

This year we saw our Special Interest Groups not only return to running face-to-face events, but also deliver these to a global audience. In May, our Plants-Soils-Ecosystems SIG joined the Mediterranean Institute of Biodiversity and Ecology (IMBE) to hold a three-day conference in Marseille. Delegates enjoyed talks and posters and went on a field trip to the Oak Observatory of HauteProvence. Here, attendees explored a long-term aboveground-belowground experiment examining the impact of drought on native oak trees. The joint event highlighted recent research developments while promoting collaboration.

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Our journal portfolio continues to publish world-class science that has a real-world impact. A study published in Journal of Applied Ecology estimates that by 2050, 1.4 million street trees in the US will be killed by invasive insects, costing over $900 million to replace. Led by McGill University researchers, the study is the first nationwide spatial forecast of street tree mortality from invasive insects. 90% of the forecasted tree deaths are predicted to be caused by the emerald ash borer, which is expected to kill virtually all ash trees in more than 6,000 urban areas. The researchers say the forecasts provide a cautionary tale against planting single tree species throughout entire cities.

Major goal 2: Raise the profile of ecology to make a difference

• We are the evidence-based voice for ecology and our environment, working with our members, decision makers and public groups to apply ecological science expertise to solving societal challenges.

• We aim to excite, fascinate and enthuse everyone about ecology.

In April 2022 we launched the Protected Areas and Nature Recovery report, examining the UK government’s pledge to protect 30% of UK land and seas by 2030. Effective protected areas (PAs) have the potential to be the beating heart of the government’s approach to the recovery of nature in the UK, the report said. However, even though 27% of UK land and 38% of UK seas are already under some level of protection, the report found that many protected areas are not delivering for nature and are in poor ecological condition. The report urged caution over what should count towards the ‘30x30’ target and made recommendations for the transformative changes required to ensure PAs and surrounding areas are effective in restoring nature. The lead author of the report, Dr Joseph Bailey, said: “Designation doesn’t automatically make an effective protected area. It’s simply the first step in a long process towards ensuring long-term ecological benefits for nature and people. An effective protected area needs adequate implementation, enforcement, monitoring, and longterm protection.” A successful launch event with lots of media coverage has meant the report had impact. Experts from Natural England and Defra, the UK government's environment department, have used the report to feed into ongoing policy discussions on the 30x30 target. Umbrella group Wildlife and Countryside Link have referred to it in their response to a Defra consultation on environment targets.

Environmental policy is a devolved matter in the UK so it is important that the BES works effectively with the devolved administrations and we are really pleased to have refreshed our Welsh Policy Group during the year. They are conducting a horizon scan of emerging environmental issues and upcoming policy in Wales over the next 10 years. The group’s members are assessing our capacity to address different environmental threats and opportunities. The project has already undergone many stages, including several thorough exercises to identify urgent drivers of environmental, political, technological, and social changes which may impact future ecological policy work.

Launched in January 2022, the ‘Connecting schools to nature in North-East England’ project has seen a fantastic response. Schools across North-East England have undergone a green transformation – improving access to nature in an area where children spend less time outdoors than anywhere else. The project has reached >10,000 pupils so far through a combination of regional training sessions, outdoor workshops, public engagement events, and an exciting new digital platform ‘BES Encounters’. A third and final module on local birdlife ran from October to December 2022. Children involved in the project have had the opportunity to get involved in wildlife-friendly activities such as planting wildflowers, building hedgehog highways, and installing insect hotels and camera traps – offering the benefits of nature to those currently least able to access them. Much of this success is

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thanks to the efforts of a more than 70-strong group of volunteer ‘Environmental Educators’ working with the lead teachers and their colleagues at our 50 partner schools.

During the year, our online discovery tool, Applied Ecology Resources (AER), and its associated journal, Ecological Solutions and Evidence (ESE), launched a joint campaign to raise awareness of the importance of co-designed projects between different sectors in ecology. An online AER Live workshop brought together an international audience from academia and ecological practice, while an ESE Editorial and Special Feature collated related evidence and insights on the benefits of codesign. This is one example of how AER is forging a unique position as a resource for those in ecological, environmental, and conservation work. AER offers many benefits for its membership which include government agencies, environmental NGOs and academic institutions.

Major goal 3: Foster a strong and diverse community of ecologists

• We empower and enable a vibrant and influential global community of ecologists.

• We aim to make everyone interested in ecology feel valued, wherever and whoever they are.

This past year our BES networks for underrepresented and marginalised groups in ecology have continued to grow. The REED Ecological Network hosted an incredibly successful workshop on effective allyship at the BES Annual Meeting in 2021, and have since continued to refine and adapt their training, delivering informative sessions at several UK universities. The REED Ecological Network also participated in a The Niche takeover, with several of their members producing informative, personal, and inspiring content for our quarterly membership magazine. This year the REED Ecological Network also welcomes a new chair, Jordan Blanchard-Lafayette. Throughout 2022 the BES has continued its commitment to supporting and providing safe spaces for minority groups. The BES celebrated pride month through our ‘Rainbow Research’ blog series, where ecologists from across the world shared their research and experiences as members of the LGBTQ+ community. Inspired by the trailblazing success and growth of the REED Ecological Network, ALDER (Advancing LGBTQIA+ Diversity, Equality & Representation) was relaunched at the end of June. Over the past few months, priorities for this network have been established, and the next couple of years will see a focus on integrating with new BES mentoring schemes, assembling resource banks for LGBTQ+ ecologists, mentors and supervisors, as well as creating space for community discussions. Spurred on by the success of our new networks, the BES, alongside our dedicated teams of volunteers, is also working on launching further networks offering support for other minority groups.

In October, the BES signed up to environmental umbrella group Wildlife and Countryside Links’s route map to a more ethnically diverse environment sector. Zenobia Lewis, Chair of the British Ecological Society’s Education, Training & Careers Committee, says: “The Wildlife and Countryside Link route map is a timely and hugely important piece of work. For the first time, not only do we have a clear picture of what the sector really is – largely white, in some areas racist, but overwhelmingly ready and willing to change – we have a plan of action to make the sector accessible and welcoming to all who want to be a part of it.” She adds: “By signing up to the Link Route Map, the British Ecological Society has sealed its commitment to breaking down the barriers and removing the challenges that People of Colour face in our sector. I hope others will join us.”

For the first year ever, the Undergraduate Summer School ran as a hybrid event in 2022 with an online day followed by a residential trip to FSC Blencathra in the Lake District, UK. Our Annual Summer School is a chance for undergraduates to kickstart their careers in ecology and bridge potential skills gaps. Students take part in practical sessions boosting their field skills while increasing

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their ecological knowledge. Our summer school also offers fantastic networking opportunities, with students, and mentors, as well as ecological academics and professionals. A quote from one 2022 Summer School student shows its impact

“It was amazing for me to be around so many other students that had faced difficulties in their lives and academic journeys, but yet are so resilient, talented and engaged. Thank you for giving a chance to those who don’t usually get one! “

Major goal 4: An effective and financially sustainable BES

• We are astute in managing and developing the Society’s assets for the benefit of ecology and the ecological community.

• We aim to use the Society’s resources in the most effective and sustainable ways possible.

Our two investment fund managers are Rathbones and Waverton, and they have different criteria for stock selection, which widens the range of our holdings and spreads risk more effectively. They both have a track record and commitment to ethical investing. In addition to not investing in companies that damage the environment – for example we do not hold stocks in companies that primarily extract fossil fuels – we aim to invest in those companies seeking to make a positive impact. We also see our portfolio as a tool to leverage positive environmental change and are working with our fund managers to find opportunities for knowledge exchange between ecologists and fund managers. For example, we worked with Rathbones to organise a roundtable meeting on the challenges of measuring biodiversity, an important and topical issue for the financial services industry.

We continue to reduce our own environmental impact, establishing an effective system for monitoring and recording our carbon. We now purchase carbon credits that offset residual carbon emissions but we also remain committed to bridging the gap between the research community and those involved in developing the voluntary carbon market especially in the context of higher integrity carbon schemes that consider how we mitigate biodiversity loss. we are also ensuring that we invest in restoration and conservation of peatland sites as a mechanism of avoiding future carbon emissions.

How our work delivers public benefit

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. All our trustees give their time voluntarily and do not receive any private benefit. Details of trustees’ expenses and remuneration are disclosed in note 6.

The first three of our major goals provide clear public benefits, while the final one defines the ways in which we gain greater leverage from our finite resources and ensure our long-term sustainability.

Fundraising

Our fundraising policy follows the Charity Commission’s CC20 ‘Charity fundraising: a guide to trustee duties’ guidelines. Our guiding principles are that we always:

• Protect personal data and confidentiality;

• Treat donors courteously and fairly;

• Respond promptly to donor queries or complaints.

We will never:

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• Share donor details with another charity for the purposes of their fundraising;

• Telephone to ask for a donation unless donors have specifically asked us to do so;

• Bombard donors with emails;

• Pass donor personal data to a third party such as a commercial partners or publishers unless we have been given explicit consent to do so.

We do not have any fundraising campaigns aimed at the general public and we have not received any complaints about our fundraising activities. Our full fundraising policy is available from our office.

Ensuring our grant giving is effective, fair and transparent

In 2022 we gave away £272k in grants, which is 5.9% of our spending. We recognise that this substantial sum needs to be carefully managed, and we have established processes and policies in place to do that.

Application and scoring criteria are published on our website and are regularly reviewed. We provide examples of successful applications and the success rates for each grant scheme. Except for our Training and Travel Grants, all applications go through a peer-review process to comment on their suitability for funding. Grant reviewers are recruited to our Review College through regular open calls to build a community of individuals who have the knowledge, skills, experience and expertise in ecology to assess grant applications. Successful applications are required to provide a report on the outcome and impact of their project. During 2022 we reviewed our grant-giving programme to ensure that it continues to support our strategic vision and the needs of the ecological community. The new grants programme will be launched in 2024.

The contribution of volunteers to our work

We rely on a huge number of volunteers to achieve our strategic vision. They contribute in a myriad of ways to our work and we also recognise that volunteering with us provides valuable experiences for our community. Volunteers are members of our Board of Trustees, committees and working groups, helping to shape the direction of our work every day. Our 19 Special Interest Groups produce a range of events, workshops and communications – efforts that benefit many across the full breadth of ecology – and are all run by volunteers. Our journals would not be able to run without the dedicated band of ecologists across the world who peer review papers and serve as Associate Editors. And much of our careers work relies on ecologists willing to give up their time for free to help us inspire the next generation. The direct involvement of the ecological community in much of what we do helps to ensure that we continue to be a community-led organisation.

Our commitment to equity, diversity and inclusion

We value the diversity and wide range of perspectives that people from different backgrounds bring to their work and to ecology.

Everyone at the BES has a role to play in ensuring that individuals are valued, treated with dignity and respect, and that discrimination does not occur. Every member of staff and the Board of Trustees are responsible for implementing relevant policies, objectives and working practices linked to equality and diversity to ensure equal opportunity at all stages of engagement with the Society.

We remain committed to addressing inequalities and more details of our work can be found in the section ‘Major goal 3: Foster a strong and diverse community of ecologists’.

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Our commitment to reducing the environmental impact of our activities

Our community has done much to raise awareness of the impact of human society on the natural world. It is important that we reduce the impact of our own activities and improve environmental sustainability. We are committed to making continual improvements and are pleased to have made more progress in 2023.

2022 was a busy year, we are beginning to move beyond the pandemic and the positive opportunities we identified and to embed them within our future activities. We have also reinstated many activities we undertook prior to 2020. 2022 is the baseline year against which as we aim to reduce our carbon emissions by 30% by 2025. In 2022 carbon emissions were 94.05t CO2e with 9.55t CO2e being accounted for by our energy use from 100% renewal sources so our total emissions were 84.50t CO2e.

Travel remains a significant portion (58%) of our carbon emissions; it is BES travel policy to travel via economy class, via train or public transport wherever practicably possible. Exceptions are made for inclusivity purposes and duty of care of those travelling on our behalf during early/late hours. 49.95 tCO2e were emitted in 2022, of which 38.85 tCO2e (77%) were as a result of flights to and from our own and other conferences. Train travel accounts for 52% of all journeys taken and finally car travel (includes all courier travel) remains high, this is in part due the final stages of the Connecting Schools to Nature project where staff worked in rural areas and depended on their cars for travel. This should reduce in 2023.

The Annual Meeting in 2022 does contribute a significant proportion of our total carbon emissions (36%) when including all staff/ BES guest travel and accommodation.

Carbon Emissions in 2022 by Emission Type:

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Note: in this graphic, the Annual Meeting refers only to the carbon emissions from the venue. As of the report date we are still waiting on final venue data, and this remains an approximate value based on 2021 estimates.

We work with high integrity peatland-based offsetting schemes to achieve net zero emissions. During the new strategic plan we will be developing a roadmap to Nature Positive and Net Zero Carbon, and working towards delivering it to minimise our impacts on the environment. We also see engagement and knowledge exchange as a key way in which we can leverage the assets of the BES to create positive change for the natural environment, so we will continue to work with our fund managers and others to influence external bodies, as well as driving down the carbon emissions and biodiversity impacts from our activities.

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OUR PLANS FOR THE FUTURE

We look forward to 2023 with a new and ambitious strategic plan in place to advance ecology and create solutions for a planet under threat. We have five new major goals and some of the work we have planned for the year is detailed below.

1. Advance ecological science to deepen our understanding of the living world

2023 will see the launch of our report into the Future of Ecology Research in the UK. It identifies 5 important areas for work: Novel futures, Living laboratories, Understanding and simulating dynamic ecological systems, Wholescapes and Frontiers of discovery. In the coming years we will focus on each of these themes and build a programme of activities around it to advance ecological knowledge and understanding.

There are a number of publications related activities that we plan to work on in 2023 including develop best practice for authorship of indigenous groups, deciding how to implement improved data archiving standards and plan the move to double-anonymized peer review.

2. Put ecology at the heart of decision-making for a sustainable planet

During 2023 we will be launching our new major policy report on regenerative agriculture. This work builds on our influential policy reports on Nature-Based Solutions and Projected Areas reports published in previous years.

We are also aiming to get more ecologists involved in policy work. Our policy work relies on the expert knowledge of the ecological community so we are increasing the range of opportunities available for contribution to the Society’s policy development and providing additional training. We will also be focusing on support for our policy groups in the devolved nations.

3. Nurture a growing community that is strong, equitable and collaborative

We will be continuing to contribute and support a more equitable research community during the year, developing our own equity strategy and influencing developments in the wider environmental sector. 2023 will see the implementation of a professional development and training strategy so that we can help develop the professional skills of our community. We will also be developing a teacher's network.

We will develop our Ambassadors programme to support member recruitment and will be reviewing our membership structures.

During 2023 we will be bringing our old grant schemes to a close and implementing our new grants offer. This is a major piece of work which will enable us to support the ecological community better.

4. Celebrate the wonder of ecology to inspire action and change

Part of our new strategy is to deliver an outreach programme called Ecology Week to expand the appreciation of ecology and reach new audiences. This will be a major programme of work, launched in 2024, and this year we will be researching and developing the initiative.

A major project starting in 2023 will be the review and development of the BES website. Our website is the main platform for collecting membership and conference income as well as a vital tool

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for communication with our audiences. It requires a significant upgrade and that project will start in the year.

5. Become more sustainable to enable our long-term future, and lead the way in best practice

Over the last few years we have developed a much valued staff wellbeing programme and this year will see us take a longer term view of how we best support our staff. We will also be reviewing our staff training provision.

The BES takes its responsibilities to the environment very seriously and this year we will be appointing a Sustainability Officer to help us develop and deliver a Net Carbon Zero & Nature Positive roadmap.

As the world of work is evolving, we need to adapt how we use our office space. We will be developing a new office accommodation strategy to ensure that we maximise the value of this important asset.

These are just some of the activities and events we are planning in 2023 to deliver the first year of our new strategic plan.

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FINANCIAL REVIEW

Review of our financial position

In 2022 total income was £5.4M (£5.4M in 2021), with 81% of income from publishing. During the year expenditure was £4.5M (£4.3M in 2021) with 49% spent on publishing. The accounts show a surplus of £0.9M (surplus of £1.0M in 2021) before net losses on investments of £1.2M (gains of £0.9m in 2021). Total funds of the Society were £16.4M at the end of 2022 (£16.7M at the end of 2021).

Financial management and control

BES committees plan their work for the forthcoming year within the framework of our strategic plan. Annual budgets for the following year are drawn up in the fourth quarter and are approved by the Board of Trustees at their meeting in December. Throughout the financial year the Finance Committee considers management accounts at its meetings, with a narrative provided by the Honorary Treasurer, Chief Executive and external accountancy firm JS2, as appropriate. The narrative focuses on reasons for variation against budget. Monthly management accounts are also circulated to budget holders. At the mid-point in the financial year the budgets are reforecast, taking into account changes in planned activities and events.

We have a set of Financial Regulations which must be followed and are reviewed annually by the Finance Committee.

Our reserves

We hold reserves for four main purposes:

• Meet operational needs;

• Buffer against the high exposure to publishing income;

• Deliver specific major projects in areas defined by the Strategic Plan; and

• Generate additional income through an investment portfolio.

Our reserves help us meet our operational needs and working capital requirements (the free reserve). The free reserve aims to hold ~6 months operating costs, and in 2023 these are budgeted to be ~£2.1M excluding third-party operating costs and grants. At 31[st] December 2022, free reserves held totalled £3.6m exceeding this target. However, the ongoing uncertainty in academic publishing means that there is an increased likelihood of needing to draw down additional amounts of reserves in future years.

The major exposure in our income portfolio is its dependence on publishing income, which represented £4.4M (80%) of annual income in 2022. The high commitment to expenditure and substantial exposure to a single source of income is a major long-term risk to the organisation. We hold reserves as an expendable Endowment Fund to mitigate this risk. The Expendable Endowment ensures sufficient time to scope alternative operating models should publishing income collapse, and also to transition to the best solution in an orderly fashion. The Expendable Endowment represents a minimum 18 months operating costs, of which direct staff costs are 39% in 2022 that cannot be immediately adjusted in a new operating environment.

We are taking proactive steps to mitigate the over-reliance on a single income source by holding these reserves in an investment portfolio that is managed using an environmental screen. Returns

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on these investments are re-invested strategically to part fund new activities and specific major projects in the scope of the Strategic Plan.

The designated tangible fixed asset fund comprises the net book value of fixed assets, principally our office in London (~£4.9m). Designated Funds cover a full-time Managing Editor position exploring new opportunities in academic publishing (£123k) an office renewal fund (growing at £150k added annually ) and an Open Access Transition Fund (£393k). None of these designated funds are available to meet our general running costs.

The reserves policy is reviewed annually by Finance Committee and recommended changes are considered by the Board of Trustees. The policy was last updated in 2023.

Going concern and viability

Based on the reserves policy and detailed cashflow forecasts there are no specific circumstances or uncertainties that impact on the Board of Trustees assessment that the Society is a Going Concern .

Our investment policy

The objectives of our investment policy are:

• Hold assets across a mixture of fixed assets in tangible (e.g., our headquarters at 42 Wharf Road) and ‘investment’ forms (e.g., the two portfolios managed by Rathbones and Waverton).

• The managed portfolios should, over the long term, generate surplus funds that help deliver our charitable objectives while also incentivising companies who engender positive change.

• If income from the managed portfolios both generates a surplus and outperforms our stated benchmark over a rolling three-year period, then we will pay a ‘dividend’ to the ecological community through the Society’s activities.

Our headquarters at 42 Wharf Road is a long-term tangible fixed asset. We seek to optimise the use of this space in ways beyond traditional subletting by, for example, making meeting space available on a non-commercial basis for like-minded organisations.

Beyond tangible fixed assets and operational reserves, we hold a portfolio of investments. This portfolio is currently actively managed with the objective of achieving capital growth with an emphasis on preservation of capital and reasonable liquidity.

We take a holistic view of risk profiling across all our assets. As we hold a relatively high proportion of assets in illiquid tangible fixed assets, our managed portfolio contains a high proportion of equities and should be benchmarked against the midpoint of the ARC Constant Growth and Equity Risk mandates.

Investment decisions within the managed portfolio are not taken by trustees. The Trustees provide guidelines based on Environment, Society and Governance (ESG) criteria that are consistent with our goal. Products/stocks are included in the managed portfolio if they pass threshold standards based on criteria of ESG data providers. In addition to monitoring the capital growth of both portfolios, we also monitor the overall ESG score and seek to move towards an AAA rating (currently AA) and higher score on the ‘Environmental Pillar’.

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To mitigate risk, the managed portfolio should not be leveraged.

Investment management and performance

As stated in the Balance Sheet of these accounts, our investments were valued at £8.6m on 31 December 2021. Since then, there has been significant movement in worldwide stock markets and the value of our funds as of 30 April 2022 was £8.2m.

2021 was the first full calendar of investment fund management by our two new fund managers, Rathbones and Waverton. The two companies have different investment strategies and thereby we have increased diversity and spread risk compared to having just one fund manager. At the end of 2021, our listed investments held by the BES and managed by Rathbones and Waverton had a combined value of £8.6M. We have agreed that the risk profile for the fund managers should be the second highest for each company as we are investing for the long term. Each fund manager uses a composite index as a benchmark and we also require them to report against CPI + 4% and the midpoint of the ARC Steady Growth and ARC Equities Risk benchmarks. We also use the SuggestUs portfolio to independently benchmark the performance of the fund managers. The investment managers attend two Finance Committee meetings a year to discuss performance and general strategy. Day-to-day investment decisions are delegated to the fund managers in accordance with the agreed mandates.

We have spread the risk of our assets as far as practicable by owning a very long lease on our headquarters and holding some of our reserves in cash accounts, in addition to the equities, bonds and trust funds in our two investment portfolios.

Our principal risks

We maintain a risk register, updated at least quarterly, and significant changes are reported to each Board of Trustees meeting.

The three most critical risks currently are:

A significant drop in income

Major funders and governments in key markets and the academic community may no longer accept the hybrid journal (subscription with an Open Access option) business model. Income generated through this model constitutes most of the Society’s income and is under threat. We try to mitigate this risk in several ways. We stay abreast of industry developments, respond to consultations and participate in discussions to ensure the voice of learned societies is represented. We have also diversified our publishing business model by offering Open Access as an option in our subscription journals, flipping subscription titles to Open Access, launching new journals as Open-Access titles, collaborating with the Open-Access journal Ecology and Evolution , and developing new income streams, for example, legacy giving and sponsorship.

Challenging staff recruitment and retention

Post Covid, the jobs market is very challenging for employers. Significant numbers of people have left the work place, others have changed careers and there are high expectations for flexible terms and conditions. Cost of living increases are putting pressure on pay. To mitigate these risks we benchmarked our salaries and staff benefits, updated our pay scales, developed a clear route for staff progression and increased our contribution to staff pensions. We will continue to review the situation throughout 2023.

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Inflation

The inflation rate in the UK has risen significantly. This creates the risk that the 2023 budgeted expenditure will be exceeded, costs will rise quicker than income and we will be unable to fund planned activities. The new costed strategic plan for the next three years incorporates a high inflation rate to mitigate the risk that our future plans are unaffordable.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Our structure

We are a company limited by guarantee (Registration no. 1522897) and have no share capital. As a registered charity (Registration no. 281213), we are governed by our Articles of Association.

Our Board of Trustees comprises the President, President-Elect or Past President, two Vice Presidents, Honorary Treasurer, Honorary Secretary, Chair of the Education and Careers Committee, Chair of the Events Committee, Chair of the Publications Committee, Chair of the Policy Committee, three Ordinary Members and a Co-opted Member. The Board meets quarterly and is responsible for our strategic direction and policies. There are eight committees which report quarterly to the Board on their areas of responsibility. We have a governance document which details the structure, terms of reference and membership of the Board of Trustees and committees.

Our day-to-day operation is delegated to the Chief Executive and the rest of the Senior Leadership Team. The Chief Executive ensures our resources are effectively and efficiently focused on delivering our strategic plan and key performance indicators are met. The Senior Leadership Team ensures the smooth running of the organisation and leadership of the staff team. Remuneration of all staff, including key management personnel, is considered on an annual basis by our Personnel Committee which reports directly to the Board of Trustees. Factors such as affordability and inflation are considered by the Personnel Committee. Market research, sector benchmarks and comparability with similar, existing roles within the Society are considered when salaries for new staff roles are agreed by the Committee.

Recruitment to the Board of Trustees

The Board is responsible for nominating officer and chair posts and members of the Society can put themselves forward for these roles through an open recruitment process. Nomination for Ordinary Members is open to the whole membership. All members of the Board are elected by the membership through an online ballot and the results of the election are announced at the Annual General Meeting. Online voting has enabled many more members to participate in the selection of the Board. When the selection was made in-person at an AGM ca. 150 members voted whereas in 2022 a total of 1,062 members voted online.

Induction and training of trustees

All newly appointed trustees go through a process of induction, which fully briefs them about their roles, responsibilities and the BES. During their tenure, trustees can have ongoing training, paid for by the Society, to help them fulfil their duties.

Responsibilities of the Board of Trustees

The Board of Trustees of the BES (the trustees and directors) is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Board to prepare financial statements for each financial year. Under that law, the Board

16 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Accounts for the year ended 31 December 2022

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the Board is required to:

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in the Charities Statement of Recommended Practice (SORP);

• Make judgements and estimates that are reasonable and prudent;

• State whether applicable UK 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 Company will continue in business.

The Board is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the BES and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the BES and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Board of Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out in the “References and Administrative Details” section. In accordance with company law, as the company’s directors, they certify that:

• So far as the directors are aware, there is no relevant audit information of which the company’s auditors are unaware; and

• They have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

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The British Ecological Society

Accounts for the year ended 31 December 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Charity details

British Ecological Society 42 Wharf Road London, N1 7GS

Charity Commission registration number 281213 Companies House registration number 1522897

Board of Trustees

R Brooker Y Buckley Resigned March 2022 S Clarke T Coulson Appointed December 2022 M Edgar M Eichhorn Appointed December 2022 M Emmerson B Emmett Appointed December 2022 T Ezard Resigned December 2022 R Freckleton Appointed December 2022 L Graham T Helgason J Hill Resigned December 2022 Z Lewis Y Malhi J Memmott Resigned December 2022 R Stafford P Vick Office bearers: President Y Malhi President Elect B Emmett Vice President T Coulson Vice President M Emmerson Hon. Secretary R Brooker Hon. Treasurer M Eichhorn

Chairs of standing committees (as at date of this report): Finance Committee M Eichhorn Education and Careers Committee Z Lewis Events Committee L Graham Grants Committee M Emmerson Membership Committee T Coulson Personnel Committee R Brooker Policy Committee R Stafford Publications Committee R Freckleton

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The British Ecological Society

Accounts for the year ended 31 December 2022

Advisors

Senior Management Team: Chief Executive H Norman Director of Communities and Inclusion K Devine Director of Policy and Communications J Bromley Director of Publishing A Baier

Bankers: Barclays Bank plc Leicester, LE87 2BB

Investments: Rathbones Greenbank Investments 8 Finsbury Circus London, EC2M 7AZ

Waverton Investment Management 16 Babmaes Street London, SW1Y 6AH

Accountants: JS2 Limited One Crown Square Woking, GU21 6HR

Auditors: Haysmacintyre LLP 10 Queen Street Place London, EC4R 1AG

Solicitors: Stone King LLP Boundary House 91 Charterhouse Street London, EC1M 6HR

Mason Hayes & Curran LLP Barrow Street Dublin 4 D04 TR29, Ireland

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The British Ecological Society

Board of Trustees Report for the year ended 31 December 2022

SIGNATURE OF THE REPORT ON BEHALF OF THE TRUSTEES

This report has been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.

Approved by the Board of Trustees on 1 June 2023 and signed on its behalf by:

Professor Yadvinder Malhi President

20 THE BRITISH ECOLOGICAL SOCIETY

Independent Auditor’s Report to the Members of the British Ecological Society

Independent auditor’s report to the members of the British Ecological Society

Opinion

We have audited the financial statements of British Ecological Society for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheets, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 December 2022 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be

21 THE BRITISH ECOLOGICAL SOCIETY

Independent Auditor’s Report to the Members of the British Ecological Society

materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ Annual Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the charitable company; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 16, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are

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Independent Auditor’s Report to the Members of the British Ecological Society

considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements for GDPR, Charities Act 2011 and Companies Act 2006, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, income tax and payroll tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue, management bias in accounting estimates and application of controls around authorisation of expenditure and payments . Audit procedures performed by the engagement team included:

• Inspecting correspondence with regulators and tax authorities;

• Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

• Evaluating management’s controls designed to prevent and detect irregularities;

• Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and

• Challenging assumptions and judgements made by management in their critical accounting estimates

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Independent Auditor’s Report to the Members of the British Ecological Society

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kathryn Burton (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor 10 Queen Street Place Date: 9th June 2023 London EC4R 1AG

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The British Ecological Society

Statement of financial activities Incorporating the income and expenditure account

For the year ended 31 December 2022

Notes Income from Donations & Legacies Other Trading Activities Investment income 2 Other income Income from charitable activities Publications Income from conferences Subscriptions Total income Expenditure Expenditure on raising funds Investment management fees Expenditure on charitable activities Publications Meetings Research Education Policy Member engagement Total expenditure 3 Net income before gains on investment Net (losses)/gains on investments 11 Net movement in funds in year Fund balance brought forward Fund balances carried forward 17	Unrestricted £’000 14 16 20 ____ 50 4,383 434 209 ____ 5,076 ____ 6 2,201 705 298 384 287 351 ____ 4,232 ____ 844 (123) ____ 721 ____ 8,692 ____ 9,413	Restricted £’000 167 - - ___ 167 - - - ___ 167 ___ - 21 - 8 186 19 - ___ 234 ___ (67) - ___ (67) ___ 107 ___ 40	Permanent Endowment £’000 6 - - ____ 6 - - - ____ 6 ____ - - - 5 - - - ____ 5 ____ 1 - ____ 1 ____ 222 ____ 223	Expendable Endowment £’000 - 141 - ____ 141 - - - ____ 141 ____ 50 - - - - - - ____ 50 ____ 91 (1,054) ____ (963) ____ 7,691 ____ 6,728	2022 £’000 187 157 20 ____ 364 4,383 434 209 ____ 5,390 ____ 56 2,222 705 311 570 306 351 ____ 4,521 ____ 869 (1,177) ____ (308) ____ 16,712 ____ 16,404	2021 £’000 419 130 60 ___ 609 4,275 271 198 ___ 5,353 ___ 54 2,051 679 459 364 323 368 ___ 4,298 ___ 1,055 948 ___ 2,003 ___ 14,709 ___ 16,712

All of the above results derive from continuing activities. There are no gains and losses other than those disclosed above. The accompanying notes form an integral part of these financial statements.

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The British Ecological Society (Company Number 1522897)

Balance Sheet

For the year ended 31 December 2022

Notes £’000 Fixed assets Tangible assets 9 4,867 Intangible fixed asset 10 110 Investments 11 7,738 ____ Current assets Debtors 12 2,401 Cash on deposit and in hand 2,892 ____ 5,293 Creditors:amounts falling due within one year 13 (1,604) ____ Net current assets Creditors:amounts falling due over one year 14 Net assets Represented by Unrestricted funds General fund Designated funds: Restricted fund Permanent Endowment fund Expendable Endowment fund 17	2022 £’000 £’000 4,996 149 8,588 ____ 12,715 2,331 2,196 ____ 4,527 (1,438) ____ 3,689 - ____ _ 16,404 ____ 3,760 5,653 ____ _ 9,413 40 223 6,728 ___ _ 16,404	2021 £’000 13,733 3,089 (110) ___ 16,712
		____ 2,910 5,782 ___ 8,692 107 222 7,691 ___ 16,712

Included in the above reserves are unrealised losses of £1.5M (2021 gains £1.07M). The accompanying notes form an integral part of these financial statements.

The accounts were approved and authorised for issue by the Board of Trustees on 1[st] June 2023 and signed on its

behalf by.

Professor Yadvinder Malhi Member of the Board of Trustees

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Statement of Cashflows

For the year ended 31 December 2022

Cash flow from operating activities Net (expenditure)/income Adjustments for: Investment income Depreciation Amortisation (Increase)/Decrease in debtors (Decrease)/Increase in creditors Net cash provided by/(used in) operating activities Cash flow from investing activities Purchase of tangible fixed assets Investment income Purchase of investments Disposal of investments (Gain)/Losses on investments Net cash (used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Analysis of changes in net debt Cash and cash equivalents	£’000 (308) (158) 140 40 (70) 56	2022 £’000 (300) 996	£’000 2,003 (130) 139 39 120 (3)	2021 £’000 2,168 (1,274)
	(10) 158 (1,671) 1,342 1,177		(1) 130 (1,047) 592 (948)
			Cashflows £’000 696
		696 2,196		894 1,302
		2,892		2,196
		As at 1 January 2022 £’000 2,196		As at 31 December 2022 £’000 2,892
		2,196	696	2,892

The accompanying notes form an integral part of these financial statements.

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1 Accounting policies

Notes to the accounts (continued)

For the year ended 31 December 2022

• Basis of accounting

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) - (Charities SORP Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Society meets the definition of a Public Benefit Entity as defined by FRS102.Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements and have considered the impact of the coronavirus pandemic on the charity’s operations. In particular the trustees have considered the charities forecasts and projections and have taken account of pressures on donation and investment income. After making enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Financial Instruments

The BES has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102.

Income

• i) Subscriptions income: All subscriptions income is accounted for in the period to which it relates. Subscriptions receipts in advance are recorded as deferred income.

• ii) Other income: All other income has been accounted for on a receivable basis.

Expenditure (including grants)

Expenditure is classified under the principal categories of charitable and other expenditure rather than the type of expense, in order to provide more useful information to users of the accounts.

Charitable activities comprise direct expenditure including direct staff costs attributable to the activity. Support costs have been allocated to activities based on the average staff time spent. Governance costs are those incurred in connection with the management of the Society's assets, organisational

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Notes to the accounts (continued)

For the year ended 31 December 2022

1 Accounting policies (continued)

• Expenditure (including grants) (continued)

administration and compliance with constitutional and statutory requirements. Support costs are allocated on the basis of time spent on each activity.

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Depreciation

Depreciation has been calculated to write off the cost of assets over their expected useful lives as follows:

Freehold & long leasehold property - 2% per annum on a straight-line basis. Leasehold improvements - 5% per annum on a straight-line basis. Furniture - 10% per annum on a straight-line basis. Equipment - 20% per annum on a straight-line basis.

The Society’s policy is to capitalise assets purchased over £1,500.

Amortisation

Amortisation have been calculated to write off the cost of intangible fixed assets over their expected lives at 20% per annum on a straight line basis.

The Society’s policy is to capitalise intangible assets where future economic benefits from the asset are expected and the cost of the asset can be reliably measured.

Investments

Investments are stated at fair value. It is the BES’s policy to keep valuations up to date such that when investments are sold there is no gain or loss arising. As a result the Statement of Financial Activities only includes those unrealised gains and losses arising from the revaluation of the investment portfolio throughout the year. Disclosure is made in note 9 of the difference between the historical cost and the sale proceeds of the investments sold during the year.

Foreign currencies

Monetary assets and liabilities denominated in a foreign currency are translated into sterling at the exchange rate ruling on the Balance Sheet date.

Transactions in foreign currencies are recorded at the rate of exchange prevailing at the date of transaction.

All exchange differences are taken to the statement of financial activities.

Operating lease

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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Notes to the accounts (continued)

For the year ended 31 December 2022

1 Accounting policies (continued)

Pensions

BES operates defined contribution pension arrangements, the assets of which are held separately from those of the BES in independently administered funds. Contributions are charged to the income and expenditure account as they become payable.

Fund accounting

General funds comprise the accumulated surplus or deficit and are available for use at the discretion of the Board of Trustees in furtherance of the general objectives of the BES.

Restricted funds are funds subject to specific restrictive covenants imposed by donors or by the purpose of the appeal.

Designated funds comprise funds which have been set aside at the discretion of the Board of Trustees for specific purposes.

All income and expenditure of the BES has been included in the Statement of Financial Activities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Judgements and estimates

The items in the financial statements where these judgements and estimates have been made include:

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Notes to the accounts (continued)

For the year ended 31 December 2022

1 Accounting policies (continued)

• the estimates of the useful economic lives of tangible fixed assets used to determine the annual depreciation charge;

• the estimates of the useful economic lives of intangible fixed assets used to determine the annual amortisation charge;

• the assumptions adopted by the trustees and management in determining the value of any designations required from the charity’s general unrestricted funds; and

• the basis on which support costs have been allocated across expenditure headings; and

• the value of accrued publication income.

In addition to the above, the full impact following the recent emergence of the global coronavirus pandemic is still unknown. It is therefore not currently possible to evaluate all the potential implications for the charity’s activities, suppliers, beneficiaries and the wider economy. Estimates used in the financial statements, particularly with respect to the value of listed investments are subject to a greater degree of uncertainty and volatility.

2 Investment income

Income from listed investments Interest receivable	2022 £’000 151 6 ____ 157 ____	2021 £’000 128 2 ____ 130 ____

Included in the above is £16K (2021: £8K) of unrestricted income and £141K (2021: £122K) expendable endowment funds.

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Notes to the accounts (continued)

For the year ended 31 December 2022

3 Analysis of total expenditure

2022	Direct Staff	Direct Staff	Other Direct	Support Costs	TOTAL
		Costs	Costs	(note 4)	2022
		£’000	£’000	£’000	£’000
Cost of Raising Funds		-	56	-	56
Member engagement		152	9	191	351
Publications		584	1,256	382	2,222
Meetings		139	437	129	705
Research		19	279	13	311
Education		242	124	204	570
Policy		175	5	126	306
	___		___	___	____
		1,311	2,166	1,044	4,521
	___		___	___	____
2021	Direct Staff		Other Direct	Support Costs	TOTAL
		Costs	Costs	(note 4)	2021
		£’000	£’000	£’000	£’000
Cost of Raising Funds		-	54	-	54
Member Engagement		175	5	187	367
Publications		548	1,145	359	2,052
Meetings		169	376	133	678
Research		20	427	12	459
Education		183	63	119	365
Policy		163	38	122	323
	___		___	___	____
		1,258	2,108	932	4,298
	___		___	___	____

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Notes to the accounts (continued)

For the year ended 31 December 2022

4 Support Costs

Support Costs	2022	2021
	£’000	£’000
Governance Costs
Governance staff costs	3	3
Audit Fee	13	10
	____	____
	16	13
Other Support Costs
Support staff costs	183	194
Non salary staff costs	118	61
Property	114	92
IT costs	129	79
Venue costs	3	-
Publicity	16	7
Fees / Affiliations	41	75
Office running costs	67	67
Depreciation	140	141
Amortisation	40	39
The Niche	87	74
Outsourced finance & payroll	37	36
Legal & Consultancy	22	18
Bank charges	31	36
	____	____
	1,044	932
	____	____

Support costs are allocated on the basis of time spent on each activity.

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Notes to the accounts (continued)

For the year ended 31 December 2022

5 Grants

Grant commitments are as follows:

Grant commitments at 1 January Awards made during year Payments made during the year Grant commitments at 31 December	2022 £’000 131 259 (339) ____ 51	2021 £’000 186 486 (541) ____ 131

The majority of grants awarded are to individuals. Grants to institutions are relatively few in number and low value.

6 Net Movement in Funds

is stated after charging:

Depreciation Amortisation Auditor’s remuneration - audit services	2022 £’000 140 40 13	2021 £’000 140 39 10

Other than disclosed in note 18 members of the Board of Trustees did not receive any remuneration during the year (2021: nil). Expenses reimbursed to 10 (2021: 7) Members of the Board of Trustees in the year equalled £3,280 (2021: £1,806).

7 Taxation

The BES is a registered charity and as such its income and gains are exempt from corporation tax to the extent that they are applied to its charitable objectives. There is no corporation tax charge for the year (2021: nil).

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Notes to the accounts (continued)

For the year ended 31 December 2022

8 Employees

The actual number of employees during the year was 39.2 (2021: 35.0)

Membership Publishing Conferences / Meetings Research Education Policy Society Staff costs during the year amounted to: Wages and salaries Social security costs Employer’s pension contributions Redundancy	2022 3.0 13.2 4.8 0.2 10.3 4.1 3.6 ____ 39.2 ____ £’000 1,273 129 95 - ____ 1,497	2021 4.0 13.5 3.8 0.9 4.5 4.6 3.7 ____ 35.0 ____ £’000 1,233 122 97 - ____ 1,452

One employee earned £100,000-£109,999 during the year (2021: one employee earned £100,000-£109,999). The employer’s pension contributions in respect of this employee during the year was £9,637 (2021: £7,642).

The aggregate benefits including pension contributions of the key management personnel were £350,198 (2021: £331,041), the trustees were not remunerated for services to the charity.

During the year settlement agreements were paid of £nil (2021: £nil).

35 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

9 Fixed assets

Tangible fixed assets

Tangible fixed assets
	Freehold &	Leasehold	Furniture,	Total
	long	improvements	fixtures &
	leasehold		equipment
	property
	£’000	£’000	£’000	£’000
Cost
1 January 2022	4,724	428	174	5,326
Additions	-	-	11	11
Disposals	-	-	-	-
	____	____	____	____
31 December 2022	4,724	428	185	5,337
	____	____	____	____
Depreciation
1 January 2022	224	50	56	330
Charge for the year	94	22	24	140
Disposals	-	-	-	-
	____	____	____	____
31 December 2022	318	72	80	470
	____	____	____	____
Net book value
31 December 2022	4,406	356	105	4,867
	____	____	____	____
31 December 2021	4,500	378	118	4,996
	____	____	____	____

36 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

10 Intangible fixed assets

	Customer	Total
	Relationship
	Management
	System
	£’000	£’000
Cost
1 January 2022	199	199
Additions	1	1
Disposals	-	-
	____	____
31 December 2022	200	200
	____	____
Amortisation
1 January 2022	50	50
Charge for the year	40	40
Disposals	-	-
	____	____
31 December 2022	90	90
	____	____
Net book value
31 December 2022	110	110
	____	____
31 December 2021	149	149
	____	____

37 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

11 Investments

Market value 1 January Additions Disposals proceeds Net investment (loss)/gain Movement in deposits Market value 31 December Historical cost at 31 December Accumulated unrealised gains based on historic cost at 31 December Realised gain in year based on historic cost Represented by: UK equity shares Overseas equities UK fixed interest Overseas fixed interest UK Other Overseas Other Market value of listed investments Investment in subsidiary undertaking Amounts held in cash Total	2022 £’000 8,588 1,671 (1,670) (1,177) 324 ____ 7,738 ____ 6,440 ____ 1,298 ____ 240 ____ 1,524 4,070 456 43 789 33 ____ 6,915 - 823 ____ 7,738 ____	2021 £’000 7,185 1,047 (959) 948 367 ____ 8,588 ____ 6,087 ____ 1,857 ____ 191 ____ 1,979 4,695 351 24 860 35 ____ 7,944 - 644 ____ 8,588 ____

Subsidiary undertakings

The BES holds 100% of the issued share capital of BES Trading Company Limited, a company registered in England and Wales. The sole activity of BES Trading Company Limited was to organise the 11th International Congress of Ecology in August 2013. At 31 December 2021 the Share Capital and net assets of BES Trading Company Limited amounted to £2 - (2020 £2) and the company continued to be dormant.

The BES had shares in a property company, alongside other learned societies, in order to jointly own our headquarters. Following the disposal of the property portfolio the company was dissolved on 30 September 2022.

38 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

12 Debtors

Trade debtors VAT Other debtors Prepayments and accrued income	2022 £’000 29 73 50 2,250 ____ 2,402 ____	2021 £’000 344 19 43 1,925 ____ 2,331 ____

13 Creditors: amounts falling due within one year

Trade creditors Social security & other taxes Accruals Deferred income (note 15) Grants payable (note 5)	2022 £’000 219 68 1,161 105 51 ____ 1,604	2021 £’000 163 34 946 164 131 ____ 1,438

14 Creditors: amounts falling due over one year

Deferred Income (note 15) 15 Movement in deferred income As at 1 January 2022 Released in year Deferred in year Deferred in year – falling due more than one year As at 31 December 2022	2022 £’000 - ____ - ____ 2022 £ 274 (274) 105 - ____ 105 ____	2021 £’000 110 ____ 110 ____ 2021 £ 300 (300) 164 110 ____ 274 ____

39 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

16 Movement in Funds

2022 Restricted Alex S Watt Brecklan Policy Assistant Fund SPAN Trust Kickstarter fund Christian Marsh - MCT Award GRCF Ecology Resources Ltd New Phytologist Foundation Total restricted funds Unrestricted funds General Tangible fixed asset fund Office Renewal fund Journal Development fund Open Access Transition fund Total unrestricted funds Expendable Endowment Funds John L Harper Fellowship Total Funds		Fund balances brought forward 1/1/2022 £’000 2 - 4 2 - 88 11 - _ 107 ___ 2,910 4,996 270 123 393 _ 8,692 ___ 7,691 222 ___ 16,712	Income £’000 - 19 4 20 2 109 10 3 _ 167 ___ 4,926 - 150 - - _ 5,076 ___ 141 6 ___ 5,390	Expenditure £’000 - (19) (3) (22) (2) (179) (6) (3) _ (234) ___ (4,008) (129) (34) (61) - _ (4,232) ___ (50) (5) ___ (4,521)	Net gains on Investment Assets £’000 - - - - - - - - _ - ____ (123) - - - - _ (123) ___ (1,054) - ___ (1,177)	Transfers £’000 - - - - - - - - _ - ___ - - - - - _ - ___ - - ___ -	Fund Balances Carried Forward 31/12/2022 £’000 2 - 5 - - 18 15 - _ 40 ____ 3,705 4,867 386 62 393 _ 9,413 ____ 6,728 223 ____ 16,404

40 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

16 Movement in Funds (continued)

Designated

Designated
Tangible fixed	Represents the net book value of tangible fixed assets in use by the Society and therefore not
asset fund	available to the Board of Trustees to meet future expenditure. A transfer is made each year to
	reflect the change in net book value.
Office renewal	The total estimated cost of the Cat A and Cat B fitout of the BES office plus the cost of fixtures and
fund	fittings in 2019 was £1.5m. To ensure that the BES has the funds available in the future to renew
	these, a designated fund was established in 2020 with an annual transfer of £150k from general
	funds.
Journals	The Board of Trustees have agreed to allocate some of the funds generated by the current contract
Development	with Wiley to increase capacity in the BES Publications Team to focus on strategy and help to
Fund	develop, research and launch new journals bringing in future income for the BES.
Open Access	The BES is exploring the transition of its existing hybrid journals to an open access model. This
Transition Fund	transition is likely to result in a short to medium term drop in income and a change in cashflow. This
	fund has been set up to mitigate these impacts for the transition of one of our journals. In 2021,
	£393k was transferred into this fund from the general fund.

Restricted

Restricted
Restricted funds	of £53k at 31 December 2022 are represented by cash on deposit (2021 - £107k).
Alex S Watt	Funds administered by the BES in the memory of Alex Watt to provide funding for small scale
Breckland	research projects aimed to enhance our understanding of the conservation of the Breckland
Research Trust	Region.
Policy Assistant	Restricted donation to support a staff member to work in the policy area. The role was created in
Fund	February 2013.
SPAN Trust	The BES received a Span Trust charitable grant of £12,818, split over three years (so far £4,272
Bursary	was received in 2021 and £4,272 in 2022) to support Bursaries for London and Southeast of
	England undergraduates’ career development (this criterion was lifted in 2022; undergraduate
	students across England can now apply for the bursary). As part of the funding agreement, the BES
	adds £2,166 per year towards the scheme via unrestricted donations. No awards were made in
	2021, with five awardees selected instead March 2022. The funds are held in trust by BES and
	drawn down by the bursary winners.
Kickstarters	The BES successfully applied to the Government Kickstarters fund to employ 4 people at risk of
	long term employment. We are providing training and work experience to them and they are
	helping support work across the BES.

41 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

16 Movement in Funds (continued)

Restricted (continued)

Ecology An original donation of £7,500 was received to finance three bursaries to attendees at the Undergraduate Resources Ltd Summer Schools which took place in the Summer of 2019. The BES continues to fundraise for this scheme Bursary and provide bursaries for students attending our Summer School programmes. Two students were supported in 2019, four students in 2019, and six over 2021/2022. The funds are held in trust by BES and drawn down by the bursary winners to fund training in ecology and associated expenses such as travel related to attendance at training or meetings and equipment.

New The BES received a donation from the New Phytologist Foundation of £3,000, to support the attendance of Phytologist seven students at the BES Annual Meeting 2022. These students were from low-income, low-opportunity Foundation backgrounds, or underrepresented groups. The funds are held in trust by BES and drawn down by the awardees to fund travel and registration costs.

The Society holds €33,973 (2021 - €36,105) on behalf of the European Ecological Foundation. This balance does not form part of these accounts.

Endowment

Expendable endowment funds of £6.7M at 31 December 2022 are represented by investment (2021 - £7.7M).

The Society is taking proactive steps to mitigate the over-reliance on a single income source by Expendable holding these reserves in an investment portfolio that is managed using an ethical screen. Returns Endowment on these investments are re-invested strategically to part fund new activities and specific major fund projects specified in the Strategic Plan

This is a permanent endowment fund to celebrate John Harper’s huge contribution to our science. John L Harper Fellowship It supports grants for graduate student research projects that are consistent with the research themes advanced by him

42 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

16 Movement in Funds (continued)

2021 Restricted Alex S Watt Brecklan Ecology the Next Generation Bursary Policy Assistant Fund SPAN Trust Kickstarter fund GRCF Total restricted funds Unrestricted funds General Designated funds: Tangible fixed asset fund Office renewal fund Journals development fund Total unrestricted funds Expendable Endowment Funds John L Harper Fellowship Total Funds	Fund balances brought forward 1/1/2021 £’000 2 3 - - - - _ 5 ____ 2,509 5,135 150 178 - ______ 7,972 ____ 6,732 - ____ 14,709	Income £’000 - 10 10 4 11 125 _ 160 ____ 4,849 - - - - _ 4,849 ____ 122 222 ___ 5,353	Expenditure £’000 - (2) (10) - (9) (37) _ (58) ____ (3,965) (139) (30) (55) - ______ (4,189) ____ (51) - ___ (4,298)	Net gains on Investment Assets £’000 - - - - - - _ - ____ 60 - - - - _ 60 ____ 888 - ____ 948	Transfers £’000 - - - - - - _ - ____ (543) - 150 - 393 _ - ____ - - ___ -	Fund Balances Carried Forward 31/12/2021 £’000 2 11 - 4 2 88 _ 107 ____ 2,910 4,996 270 123 393 _ 8,692 ____ 7,691 222 ____ 16,712

43 THE BRITISH ECOLOGICAL SOCIETY

The British Ecological Society

Notes to the accounts (continued)

For the year ended 31 December 2022

17 Analysis of net assets between funds

2022 Tangible assets Intangible assets Investments Net current assets / liabilities Net assets 2021 Tangible assets Intangible assets Investments Net current assets / liabilities Net assets	General £’000 - 110 1,010 2,640 ____ 3,760 ____ General £’000 - 149 897 2,172 ____ 3,218	Designated £’000 4,867 - - 786 ____ 5,653 ____ Designated £’000 4,996 - - 478 ____ 5,474	Restricted £’000 - - - 40 ____ 40 ____ Restricted £’000 - - - 107 ____ 107	Expendable Endowment £’000 - - 6,728 - ____ 6,728 ____ Expendable Endowment £’000 - - 7,691 - ____ 7,691	Permanent Endowment £’000 - - - 223 ____ 223 ____ Permanent Endowment £’000 - - - 222 ____ 222	Total £’000 4,867 110 7,738 3,689 ____ 16,404 ____ Total £’000 4,996 149 8,588 2,979 ____ 16,712

18 Related party transactions

No transactions have taken place with either Members or with the Senior Management Team. It is the policy of the BES that Committee members who have an interest in any grant awarding decisions must leave the room at the time the awarding decision is made.

Yvonne Buckley is an editor of the Journal of Ecology, and was appointed as a trustee in 2020, stepping down from the board in March 2022. Yvonne continued to be paid at the fixed rate and received £2,364 in the year (2021: £6,753), whilst she was a trustee.

Yvonne has not received remuneration in their capacity as a trustee (2021: £Nil).

There were no other related party transactions during the current or prior year.

19 The George Jackson Estate

As part of the George Jackson bequest the Society was left as residuary beneficiary of a revisionary bequest. The property passes to the Society upon the death of the life interest. Because of the uncertainty as to value and timing the value of the property is not included with these financial statements.

44 THE BRITISH ECOLOGICAL SOCIETY