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2023-12-31-accounts

Accounts for the year ended 31 December 2023

Accounts for the year ended 31 December 2023 together with the reports of the Board of Trustees and auditors

Company number: 1522897 Charity number: 281213

British Ecological Society

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CONTENTS

TRUSTEES REPORT

Who We Are .................................................................................... 3 What We Do .................................................................................... 4 Our Plans for the Future .............................................................. 10 Financial Review .......................................................................... 11 Structure, Governance & Management ...................................... 14 Reference & Administrative Details ........................................... 16 Signature of the Report on Behalf of the Trustees .................... 17 INDEPENDENT AUDITOR’S REPORT ............................................... 18 STATEMENT OF FINANCIAL ACTIVITIES ...................................... 22 BALANCE SHEET ............................................................................... 23 CASH FLOW STATEMENT ................................................................ 24 NOTE TO THE ACCOUNTS ............................................................... 25

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WHO WE ARE

The British Ecological Society (BES) is the largest scientific society for ecologists in Europe with a membership of over 7,000 ecologists from more than 120 countries around the world.

We support the ecology community at all stages of their careers through our journals, meetings, grants, education and policy work. The first ecological 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:

Our Strategic Plan for 2023-2025 is 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 today 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 continue to lead positive change towards our Vision.

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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 highlight key achievements from 2023, aligned to our 2023 – 2025 strategic plan.

GOAL 1: ADVANCE ECOLOGICAL SCIENCE TO DEEPEN OUR UNDERSTANDING OF THE LIVING WORLD

We will support new ideas, make connections and increase the impact of ecological science. We will be the best place for the ecological community to publish, meet and discuss their work.

One of the ways in which we support this work is through bringing together diverse audiences to consider key ecological topics. In collaboration with the Woodland Trust and the University of Kent’s Positive Environmental Futures Signature Research Theme, we organised a symposium in 2023 to bring together leading researchers, practitioners, policy makers, economists and activists to discuss the topic of “Trees for Climate Change, Biodiversity and People”. The objective was to transform policy decisions and applied conservation by using science and evidence.

Publishing in academic journals is a key activity in establishing a successful career in ecological research so it is important that we minimise barriers to this. During 2023 we published the most comprehensive set of data yet gathered on anonymising authors during peer review. We concluded a three-year randomised controlled trial of double-anonymous peer review. The study showed that in traditional single-anonymous peer review, authors from wealthier countries benefit from being identified to reviewers, but that this advantage disappears under double-anonymous review. Authors from less wealthy countries, however, fared similarly under both models – they were not disadvantaged in single-anonymous peer review, nor did they benefit under double anonymous review. On the back of these results the BES journals have started moving to double-anonymous peer review, ensuring a more equitable peer review process.

GOAL 2: PUT ECOLOGY AT THE HEART OF DECISION-MAKING FOR A SUSTAINABLE PLANET

We will convene policy-makers, implementers and ecologists to discuss ecological challenges and find solutions to global problems. We will build the ecological community’s capacity to influence policy.

The BES published two landmark reports in 2023, focusing on a vision for ecological sciences and identifying funding challenges for ecology. Our Future of Ecological Research Report identifies the grand challenges for ecology and sets out a clear vision for the next 25 years. Priority themes include:

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complexities of ecosystems at the ecological frontiers such as soils, forest canopies and the deep ocean.

This vision is influencing the Society’s own work and helping us to prioritise resources into key areas.

Our report on The Trends in UK Funding for Ecology analysed changes in the amount of United Kingdom Research and Innovation (UKRI) funding available for ecological research in the UK. Although funding for ecological research increased 1.5 times between 2006 and 2021, funding for other research areas increased 2.8 times. The proportion of UKRI funding given to ecology decreased over this period – at a time when ecological research has never been so vital.

Much of our policy work is focused on influencing the UK governments. Better understanding of the ecological evidence means better decisions are made for biodiversity, as well as climate mitigation and adaptation. The BES bring together academics, government departments, landowners and environmental NGOs to help ensure that relevant government policies address the increasing pressures on the UK’s wildlife and landscapes. Working with academics and practitioners, we create reports and briefings on key environmental policy areas, including nature-based solutions, protected areas, regenerative agriculture and COP meetings. Our policy fellowships – where early career researchers are placed in agencies across the nations – put ecologists into the heart of government.

GOAL 3: NURTURE A GROWING COMMUNITY THAT IS STRONG, EQUITABLE AND COLLABORATIVE

We will help everyone feel that ecology is a welcoming and inclusive discipline that celebrates diversity. We will nurture ecologists from their first steps throughout their whole career.

Our work in equity and inclusion continues to grow. Our Equity and Diversity Advisory Group, chaired by the BES President, attended by the CEO and including members from across the breadth of our UK and international membership, is responsible for developing and overseeing the delivery of the Society’s equity and inclusion strategy. Our priority in 2023 was to focus on ways of promoting equitable practices in international ecological science. Working with international colleagues, the Board of Trustees approved five goals that we will work towards over the coming decade. They are:

Our next steps are to implement the actions and activities that will support delivery of these goals.

In 2023, the BES invested £646k through our grants portfolio, funding and supporting 150 students and researchers from more than 30 countries across the world. Funding was awarded to projects that increased our understanding of the natural world. In 2022 we only invested £311k through our grants portfolio because of our strategic review of the portfolio, so in 2023 we increase our spend to compensate. From studying the historic population structure and foraging ecology of fin whales, to investigating changes in plant metabolism, to studying bat responses, our funding advances ecological science. Grants were also awarded to innovative projects promoting ecology to a wider audience including:

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Nearly 80 PhD students and postgraduate researchers were awarded Training and Travel grants to attend courses and conferences where they could present their research.

GOAL 4: CELEBRATE THE WONDER OF ECOLOGY TO INSPIRE ACTION AND CHANGE

We will share stories that tell of the astonishment and importance of ecology. We will excite, encourage and support a new generation of ecologists.

Our ‘Connecting Schools to Nature in North-East England’ project reached its conclusion in 2023. Schools across North-East England underwent a green transformation – improving access to nature in an area where children spend less time outdoors than anywhere else. The project reached >10,000 pupils through a combination of regional training sessions, outdoor workshops, public engagement events, and an engaging digital platform: ‘BES Encounters’. Children involved in the project had the opportunity to get involved in wildlife-friendly activities such as planting wild flowers, 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 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.

GOAL 5: BECOME MORE SUSTAINABLE TO ENABLE OUR LONG-TERM FUTURE AND LEAD THE WAY IN BEST PRACTICE

We will set ambitious targets to reduce our impact on nature and share that journey with others. We will nurture those who work with us in an equitable and inclusive environment. We will develop new income streams.

The BES’s investment fund managers are Rathbones Greenbank and Waverton. 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 – the BES aims 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.

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. In addition, the BES is investing in the restoration and conservation of peatland as a mechanism for lowering future UK 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

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give their time voluntarily and do not receive any private benefit. Details of trustees’ expenses and remuneration are disclosed in note 6.

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:

We will never:

In 2023 we did 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 2023 we gave away £646k in grants, which is 13% of our spending (2022: £259k, 6% of spending). This substantial sum needs to be managed carefully and we have established processes and policies in place to do so.

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. We launched our new grants programme at the beginning of 2024 after a period of consultation with the ecological community.

THE CONTRIBUTION OF VOLUNTEERS TO OUR WORK

We rely on a huge number of volunteers to help us achieve our strategic vision. 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. Volunteers include our Board of Trustees, committee members and working groups. 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 ecologists across the world who peer review papers and serve as Associate Editors. Much of our careers work relies on ecologists

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willing to give up their time for free to help us inspire the next generation. In addition, we recognise that volunteering with the BES provides valuable experiences for our community.

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

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.

Our gross total 2023 carbon emissions are 156.48 tCO2e. As our electricity is supplied on a 100% renewable tariff, we only need to factor in emissions for the grid, resulting in net carbon emissions of 147.81 tCO2e .

Emissions related to travel remain the lion’s share (73%) of recorded carbon (Table 1). While the number of recorded journeys has not dramatically increased in 2023, the associated CO2e emissions have. One reason is that we are using more accurate conversion factors for flights, but another is that the total distances travelled have increased. While seeking to reduce our travel-related emissions by choosing carefully what events staff attend, there are diversity and inclusion criteria to consider in the planning and delivery of BES initiatives and the travel associated with these.

Table 1. Percentage of residual carbon emissions for the BES to offset.

----- Start of picture text -----
Category Proportion of tCO2e to offset
Travel 73.0%
AM venue 14.8%
Home working 5.2%
Hotels 3.3%
Paper 2.8%
Electricity - grid use 0.8%
Electricals 0.2%
Water 0.0%
Electricity - consumption 0.0%
Total 100.0%
----- End of picture text -----

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Carbon associated with the Annual Meeting venue constitutes the second largest post (14.8%) in our accounting. The actual number this year is higher as the venue is not yet able to use a fully renewable tariff and is heated using natural gas. A venue’s sustainability criteria remain a very important, albeit not the only, consideration when deciding where to host the largest ecology conference in Europe.

We continue to work with high integrity peatland-based offsetting schemes to achieve net zero emissions.

We are increasingly able to obtain more meaningful carbon data from our suppliers and are also establishing processes for gathering data associated with new areas of BES activity and/or activities for which data has not been readily available so far. The BES Sustainability and Finance Officer role we introduced half way through 2023 is integral to working with staff on factoring sustainability considerations into the early stages of project planning.

During 2023 we started work on understanding the impact of our activities on biodiversity as the first steps to becoming a Nature Positive organisation.

We also view 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 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.

In 2024 we will be focusing on finalising the framework for measuring our biodiversity impact and collecting the data for that, as well as seeking an even more nature positive way of offsetting our residual carbon emissions.

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OUR PLANS FOR THE FUTURE

We look forward to 2024 as the second year of our ambitious Strategic Plan with the mission to advance ecology and create solutions for a planet under threat. Some of our plans for the coming year are detailed below.

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

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

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

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

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

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FINANCIAL REVIEW

REVIEW OF OUR FINANCIAL POSITION

In 2023, total income was £5.1M (£5.4M in 2022), with 79% of income from publishing. This decrease in income is due to an anticipated drop in publications income. During the year, expenditure was £5.1M (£4.6M in 2022) with 43% spent on publishing. The rise in expenditure was expected as we implemented the first year of our new strategic plan. The accounts show a gain of £26k (surplus of £0.8M in 2022) before net gains on investments of £0.6M (net losses of £1.2M in 2022). Total funds of the Society were £17.0M at the end of 2023 (£16.4M at the end of 2022).

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. We have approved a new Financial Strategy in 2023 which is structured around the aims to (1) ensure the long-term financial stability and sustainability of the BES, (2) invest in environmentally and ethically responsible funds, and (3) diversify income through increases in nonpublication sources. These are achieved through a reserves policy, investment policy and income generation policy respectively.

OUR RESERVES: TO ENSURE THE LONG-TERM FINANCIAL STABILITY AND SUSTAINABILITY OF THE BES

The reserves policy seeks to ensure cashflow to maintain the continuity of core operations of the Society. This takes a view beyond the timeframe of any single Strategic Plan, whilst also allowing for adaptation to changing circumstances.

Core operations are defined as:

In doing so we provide staff, trustees and volunteers with the confidence to deliver the charitable purposes of the Society, including the Strategic Plan. This meets the aim to deliver long-term stability

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while recognising the potential for disruptive change to our main income source of journal publishing. We will maintain a buffer against income fluctuations and as a contingency against financial shocks or challenges. Periodic expenses (cycles longer than annual budgets) should be managed through designated funds.

The reserves policy underpins all other sections of the Strategy and sets the minimum expectations for investment fund holdings and income generation. 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 2024 these are budgeted to be ~£2.1M excluding third-party operating costs and grants. At 31st December 2023, free reserves held totalled £3.8M (2022: £3.6M) exceeding this target.

The reserves policy is reviewed annually by Finance Committee and recommended changes are considered by the Board of Trustees. The policy was 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 Expendable Endowment Fund is primarily held in the form of investments. In addition to generating additional revenue for the Society and providing reserves, these serve the purpose of showing leadership in ethical and environmental investment. Our priority is to invest in funds that show innovation or leadership in environmental sustainability. We will continue to leverage our portfolio to create opportunities for dialogue and knowledge exchange between the financial services industry and the ecological community.

Given the strong financial position of the Society, which is not dependent on investment returns for core business, we can adopt a medium-high risk profile with a large weighting towards equities as 80+% of the portfolio. This reflects the dual purpose of both holding strategic reserves and generating additional income (see Income Generation Policy). Market performance can be highly variable and therefore the funds should be evaluated over a 7-year timeframe. Sustained under-performance over shorter periods would merit earlier intervention but not within any single reporting cycle.

The day-to-day management of our investments is delegated to two firms of professional fund managers, Rathbones Greenbank and Waverton. The splitting of the portfolio in this way allows us to compare the results of differing investment strategies and spread risk. Fund managers are appointed through a competitive contract tendering process.

Our metrics of success are not solely related to financial performance, although long-term growth in the investments is a minimum expectation. We also evaluate a narrative of investment strategy and priorities and its implementation in the portfolio held by the Society.

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INVESTMENT MANAGEMENT AND PERFORMANCE

As stated in the Balance Sheet of these accounts, our investments were valued at £9.4M on 31 December 2023.

The BES investment fund is managed by two fund managers, Rathbones Greenbank 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. 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 in our two investment portfolios, and the use of bonds and trust funds to improve short-term yields from cash holdings.

OUR PRINCIPAL RISKS

We maintain a risk register, updated at least quarterly, and significant changes are reported to each Board of Trustees meeting. The two 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 and collaborating with the Open-Access journal Ecology and Evolution .

A failure to diversify income streams

There is a risk that the BES is over reliant on publications income. The academic publishing business continues to be disrupted by significant change. The new Head of Marketing role will help us to strengthen existing revenue streams as well as explore new ones such as consultancy work. An income generation policy sets out a series of further actions and targets.

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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 that 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.

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.

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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 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:

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:

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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 S Clarke T Coulson C Dwyer ..........................Appointed December 2023 M Edgar ............................Resigned December 2023 M Eichhorn M Emmerson B Emmett R Freckleton L Graham T Helgason Z Lewis Y Malhi R Stafford Pam Vick

Office bearers: President .................................................... B Emmett Past President ................................................Y Malhi 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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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

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 11 June 2024 and signed on its behalf by:

Professor Bridget Emmett President

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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 2023 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:

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.

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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 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:

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:

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RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS

As explained more fully in the trustees’ responsibilities statement set out on page 14, 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

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:

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20

Accounts for the year ended 31 December 2023

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.

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) 10 Queen Street Place
For and on behalf of Haysmacintyre LLP, Statutory Auditor London
Date: EC4R 1AG

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21

Accounts for the year ended 31 December 2023

STATEMENT OF FINANCIAL ACTIVITIES

Incorporating the income and expenditure account

For the year ended 31 December 2023

----- Start of picture text -----
Permanent Expendable
Notes Unrestricted Restricted 2023 2022
Endowment Endowment
£’000 £’000 £’000 £’000 £’000 £’000
----- End of picture text -----
Income from:
Donations, Legacies &
Grants
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
Niche & Other services
Total expenditure
3
Net income before gains
on investment
Net gains/(losses) on
investments
11
Transfer between funds
Net movement in funds
in year
Fund balance brought
forward
Fund balances carried
forward
15		 84
26
19		 41
-
-		 5
-
-		 -
172
-		 130
198
19		 187
157
20
129
4,034
480
223		 41
-
-
-		 5
-
-
-		 172
-
-
-		 347
4,034
480
223		 364
4,383
434
209
4,866 41 5 172 5,084 5,390
8
2,194
770
717
323
445
461		 -
-
-
-
74
10
-		 -
-
-
5
-
-
-		 51
-
-
-
-
-
-		 59
2,194
770
722
397
455
461		 56
2,222
705
311
570
306
351
4,918 84 5 51 5,058 4,521
(52)
78
(20)		 (43)
-
20		 -
-
-		 121
513
-		 26
591
-		 869
(1,177)
-
6 (23) - 634 617 (308)
9,413 40 223 6,728 16,404 16,712
9,419 17 223 7,362 17,021 16,404

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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22

Accounts for the year ended 31 December 2023

BALANCE SHEET

For the year ended 31 December 2023

----- Start of picture text -----
Notes 2023 2022
£’000 £’000 £’000 £’000
----- End of picture text -----
Fixed assets
Tangible assets
Intangible fxed asset
Investments
Current assets
Debtors
Cash on deposit and in hand
Creditors:amounts falling
due within one year
Net current assets
Net assets
Represented by
Unrestricted funds
General fund
Designated funds
Restricted fund
Permanent Endowment fund
Expendable Endowment fund		 9
10
11
12
13
15		 4,730
70
9,432		 14,232
2,789		 4,867
110
7,738		 12,715
3,689
2,368
1,875		 2,401
2,892
4,243
(1,454)		 5,293
(1,604)
17,021 16,404
4,552
4,867		 3,760
5,653
9,419
17
223
7,362		 9,413
40
223
6,728
17,021 16,404

Included in the above reserves are unrealised gains of £0.9M (2022 gains £1.3M). 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 11[th] June 2024 and signed on its behalf by.

Professor Bridget Emmett Member of the Board of Trustees

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23

Accounts for the year ended 31 December 2023

STATEMENT OF CASHFLOWS

For the year ended 31 December 2023

----- Start of picture text -----
2023 2022
£’000 £’000 £’000 £’000
----- End of picture text -----

£’000 2023
£’000		 £’000 2022
£’000
Cash fow from operating activities
Net Income/(Expenditure)
Adjustments for:
Investment income
Depreciation
Amortisation		 617
(198)
142
40		 (308)
(158)
140
40
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Net cash provided by/(used in)
operating activities
Cash fow from investing activities
Purchase of tangible fxed assets
Investment income
Purchase of investments
Disposal of investments
(Gain)/Losses on investments
Net cash (used in)/provided by
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		 33
(150)		 484
(1,501)		 (70)
56		 (300)
996
(5)
198
(3,673)
2,570
(591)		 (10)
158
(1,671)
1,342
1,177
(1,017)
2,892		 696
2,196
1,875 2,892
Analysis of changes in net debt As at 1
January
2023		 Cashfows As at 31
December
2023
£’000 £’000 £’000
Cash and cash equivalents 2,892 (1,017) 1,875
2,892 (1,017) 1,875

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

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24

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS

For the year ended 31 December 2023

1 Accounting policies

- 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. 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

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.

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25

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

1 Accounting policies (continued)

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 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 ................ % 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.

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26

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

1 Accounting policies (continued)

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.

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.

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27

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

1 Accounting policies (continued)

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:

2 Investment income

2023 2022
£’000 £’000
Income from listed investments 163 151
Interest receivable 35 6
198 157

Included in the above is £26K (2022: £16K) of unrestricted income and £172k (2022: £141K) expendable endowment funds

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28

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

3 Analysis of total expenditure

----- Start of picture text -----
Direct Staff Other Direct Support Costs Total
2023
Costs Costs (note 4) 2023
£’000 £’000 £’000 £’000
Cost of Raising Funds - 59 - 59
Bulletin & Other services 222 72 167 461
Publications 695 1,070 429 2,194
Meetings 218 407 145 770
Research 32 674 16 722
Education 187 80 130 397
Policy 272 23 160 455
1,626 2,385 1,047 5,058
----- End of picture text -----

2022 Direct Staf
Costs		 Other Direct
Costs		 Support Costs
(note 4)		 Total
2022
£’000 £’000 £’000 £’000
Cost of Raising Funds
Member Engagement
Publications
Meetings
Research
Education
Policy		 -
152
584
139
19
242
175		 56
9
1,256
437
279
124
5		 -
190
382
129
13
204
126		 56
351
2,222
705
311
570
306
1,311 2,166 1,044 4,521

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29

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

4 Support Costs

----- Start of picture text -----
Support Costs 2023 2022
£’000 £’000
----- End of picture text -----

Governance Costs
Governance staf costs
Audit Fee
Other Support Costs
Support staf costs
Non salary staf costs
Property
IT costs
Venue costs
Publicity
Fees / Afliations
Ofce running costs
Depreciation
Amortisation
Printing
Outsourced fnance & payroll
Legal & Consultancy
Bank charges		 3
13		 3
13
16
234
58
147
124
-
39
54
72
142
40
20
40
21
40		 16
183
118
114
129
3
16
41
67
140
40
87
37
22
31
1,047 1,044

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

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30

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

5 Grants

Grant commitments are as follows:
2023 2022
£’000 £’000
Grant commitments at 1 January
Awards made during year		 51
646		 131
259
Payments made during the year
Grant commitments at 31 December		 (660) (339)
37 51

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:

----- Start of picture text -----
2023 2022
£’000 £’000
----- End of picture text -----

Depreciation
Amortisation		 142
40		 140
40
Auditor’s remuneration
- audit services
13 13

Other than disclosed in note 17 members of the Board of Trustees did not receive any remuneration during the year (2022: nil). Expenses reimbursed to 13 (2022: 10) Members of the Board of Trustees in the year equalled £8,424 (2022: £3,280).

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 (2022: nil).

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31

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

8 Employees

The actual number of employees during the year was 38.5 (2022: 39.2)

2023 2022
Membership
Publishing
Conferences / Meetings
Research
Education
Policy
Society		 4.2
13.5
4.3
0.7
7.0
4.6
3.5		 3.0
13.2
4.8
0.2
10.3
4.1
3.6
Grants 0.7 -
38.5 39.2
£’000 £’000
Staf costs during the year amounted to:
Wages and salaries
Social security costs		 1,569
155		 1,273
129
Employer’s pension contributions
Redundancy		 129
10		 95
-
1,863 1,497

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

----- Start of picture text -----
2023 2022
£60,000 - £69,999 1 -
£70,000 - £79,999 1 1
£100,000 - £109,999 - 1
£150,000 - £159,999 1 -
£’000 £’000
Pension costs for higher paid staff were: 24 16
----- End of picture text -----

The aggregate benefits including pension contributions of the key management personnel were £426,347 (2022: £350,198), the trustees were not remunerated for services to the charity.

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32

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

9 Fixed assets

----- Start of picture text -----
Tangible fixed assets
Freehold & Furniture,
Leasehold
long leasehold fixtures & Total
improvements
property equipment
£’000 £’000 £’000 £’000
----- End of picture text -----

Cost
1 January 2023
Additions
Disposals		 4,724
-
-		 428
-
-		 185
5
-		 5,337
5
-
31 December 2023
Depreciation
1 January 2023
Charge for the year
Disposals
31 December 2023
Net book value
31 December 2023
31 December 2022
4,724 428 190 5,342
318
95
-		 72
21
-		 80
26
-		 470
142
-
413 93 106 612
4,311 335 84 4,730
4,406 356 105 4,867

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33

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

10 Intangible fixed assets

----- Start of picture text -----
Customer
Relationship
Total
Management
System
£’000 £’000
----- End of picture text -----

Cost
1 January 2023
Additions
Disposals		 200
-
-		 200
-
-
31 December 2023
Amortisation
1 January 2023
Charge for the year
Disposals
31 December 2023
Net book value
31 December 2023
31 December 2022
200 200
90
40
-		 90
40
-
130 130
70 70
110 110

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34

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

11 Investments

----- Start of picture text -----
2023 2022
£’000 £’000
----- End of picture text -----

Market value 1 January
Additions
Disposals proceeds
Net investment gain/(loss)
Movement in deposits		 7,738
3,673
(2,336)
591
(234)		 8,588
1,671
(1,670)
(1,177)
326
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 fxed interest & liquidity funds
Overseas fxed interest
UK Other
Overseas Other
Market value of listed investments
Investment in subsidiary undertaking
Amounts held in cash
Total
9,432 7,738
8,521 6,440
911 1,298
106 240
1,642
4,590
2,399
48
654
21		 1,524
4,070
456
43
789
33
9,354
-
78		 6,915
-
823
9,432 7,738

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 2023 the Share Capital and net assets of BES Trading Company Limited amounted to £2 (2022 £2) and the company continued to be dormant.

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35

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

12 Debtors

----- Start of picture text -----
2023 2022
£’000 £’000
----- End of picture text -----

Trade debtors
VAT
Other debtors		 5
93
-		 29
73
50
Prepayments and accrued income 2,270 2,250
2,368 2,402

13 Creditors: amounts falling due within one year

----- Start of picture text -----
2023 2022
£’000 £’000
----- End of picture text -----

Trade creditors
Social security & other taxes
Accruals
Deferred income (note 14)		 403
62
860
92		 219
68
1,161
105
Grants payable (note 5) 37 51
1,454 1,604

14 Movement in deferred income

2023 2022
£ £
As at 1 January 2023
Released in year
Deferred in year
As at 31 December 2023		 105
(105)
92		 274
(274)
105
92 105

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36

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

15 Movement in Funds

----- Start of picture text -----
Fund Fund
balances balances
2023
brought Net gains on Carried
forward Investment Forwards
1/1/2023 Income Expenditure Assets Transfers 31/12/2023
£’000 £’000 £’000 £’000 £’000 £’000
----- End of picture text -----

Restricted
Alex S Watt Brecklan
Policy Assistant Fund
SPAN Trust
New Phytologist Foundation
GRCF
Ecology Resources Ltd
Total restricted funds
Unrestricted funds
General
Tangible fxed asset fund
Ofce Renewal fund
Journal Development fund
Open Access Transition fund
Total unrestricted funds
Expendable Endowment Funds
John L Harper Fellowship
Total Funds		 2
-
5
-
18		 -
10
4
4
23		 -
(10)
(3)
(3)
(61)		 -
-
-
-
-		 -
-
-
-
20		 2
-
6
1
-
15 - (7) - - 8
40 41 (84) - 20 17
3,705
4,867
386
62
393		 4,716
-
150
-
-		 (4,668)
(137)
(51)
(62)
-		 78
-
-
-
-		 (20)
-
-
-
-		 3,811
4,730
485
-
393
9,413 4,866 (4,918) 78 (20) 9,419
6,728
223		 172
5		 (51)
(5)		 513
-		 -
-		 7,362
223
16,404 5,084 (5,058) 591 - 17,021

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37

Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

15 Movement in Funds (continued)

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 Development contract with Wiley to increase capacity in the BES Publications Team to focus on strategy and Fund help to 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 funds of £17k at 31 December 2023 are represented by cash on deposit (2022 - £40k).

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, £4,272 in 2022 and £4,272 in 2023) 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. 6 awards were paid in 2023, totalling £3,235. 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 unemployment. We provided training and work experience to them and they helped support work across the BES.

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Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

15 Movement in Funds (continued)

Restricted (continued)

Ecology Resources An original donation of £7,500 was received to finance three bursaries to attendees at the Ltd Bursary Undergraduate Summer Schools which took place in the Summer of 2019. The BES continues to fundraise for this scheme and provide bursaries for students attending our Summer School programmes. Two students were supported in 2019, four students in 2020, six over 2021/2022 and 7 in 2023. 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 Phytologist The BES received a donation from the New Phytologist Foundation of £3,000, to support the Foundation attendance of seven students at the BES Annual Meeting 2023. These students were from lowincome, low-opportunity 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 €25,073 (2022 - €33,973) on behalf of the European Ecological Foundation and £98,947 on behalf of Intecol (2022 - £Nil). The balances do not form part of these accounts.

Endowment

Expendable endowment funds of £7.4M at 31 December 2023 are represented by investment (2022 - £6.7M).

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

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

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Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

15 Movement in Funds (continued)

----- Start of picture text -----
2022 Fund Net gains Fund
balances on Balances
brought Investment Carried
forward Income Expenditure Assets Transfers Forward
1/1/2022 31/12/2022
£’000 £’000 £’000 £’000 £’000 £’000
----- End of picture text -----

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 fxed asset fund
Ofce Renewal fund
Journal Development fund
Open Access Transition fund
Total unrestricted funds
Expendable Endowment
Funds
John L Harper Fellowship
Total Funds
2
-
4
2
-
88
11
-		 -
19
4
20
2
109
10
3		 -
(19)
(3)
(22)
(2)
(179)
(6)
(3)		 -
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-		 2
-
5
-
-
18
15
-
107 167 (234) - - 40
2,910
4,996
270
123
393		 4,926
-
150
-
-		 (4,008)
(129)
(34)
(61)
-		 (123)
-
-
-
-		 -
-
-
-
-		 3,705
4,867
386
62
393
8,692 5,076 (4,232) (123) - 9,413
7,691
222		 141
6		 (50)
(5)		 (1,054)
-		 -
-		 6,728
223
16,712 5,390 (4,521) (1,177) - 16,404

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Accounts for the year ended 31 December 2023

NOTES TO THE ACCOUNTS (CONTINUED)

For the year ended 31 December 2023

16 Analysis of net assets between funds

2023 Expendable
Endowment		 Permanent
Endowment
General Designated Restricted Total
£’000 £’000 £’000 £’000 £’000 £’000
Tangible assets
Intangible assets
Investments
Net current assets /
liabilities
Net assets		 -
70
2,070
2,549		 4,730
-
-
-		 -
-
-
17		 -
-
7,362
-		 -
-
-
223		 4,730
70
9,432
2,789
4,689 4,730 17 7,362 223 17,021
2023 Expendable
Endowment		 Permanent
Endowment
General Designated Restricted Total
£’000 £’000 £’000 £’000 £’000 £’000
Tangible assets
Intangible assets
Investments
Net current assets /
liabilities
Net assets		 -
110
1,010		 4,867
-
-		 -
-
-		 -
-
6,728		 -
-
-		 4,867
110
7,738
2,640 786 40 - 223 3,689
3,760 5,653 40 6,728 223 16,404

17 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.

There were no other related party transactions during the current year (2022: 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. In the prior year, Yvonne continued to be paid at the fixed rate and received £2,364 in the year, whilst she was a trustee. Yvonne did not received remuneration in their capacity as a trustee).

18 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.

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