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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 02004478 REGISTERED CHARITY NUMBER: 297259

Report of the Council of Management and Unaudited Financial Statements for the Year Ended 31 March 2021

for Bristol Photographic Society

Bristol Photographic Society

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Report of the Council of Management 1 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 - 12
Detailed Statement of Financial Activities 13

Bristol Photographic Society

Report of the Council of Management for the Year Ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The Council of Management have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

02004478

Registered Charity number

297259

Registered office

Unit 13 Montpelier Central Station Road Montpelier Bristol BS6 5EE

Trustees

D Alderson LRPS AFIAP

N G A Ball ARPS (Company Secretary) A Chauhan ARPS EFIAP K Clarke M de-Beger S Field LRPS EFIAP BPE1* - Appointed 19/11/2020 M Hall J Hargreaves LRPS EFIAP DPAGB V Harrison

P J Howell

R Kay ARPS – Appointed 18/03/2021 P J McCloskey FRPS APAGB M Martin AWPF EFIAP – Appointed 15/03/2021 B Mead FRPS, EFIAP/d3, APAGB, MPAGB N Owen – Appointed 18/03/2021 GR Pears FCCA, DPAGB R Snook ARPS DPAGB EFIAP/s – Appointed 19/11/2020 C A Sykes

A D Heaton LRPS CPAGB EFIAP

Company Secretary

N G A Ball ARPS

Independent Examiner

Wormald & Partners Chartered Accountants (ICAEW) Redland House 157 Redland Road Redland Bristol BS6 6YE

Page 1

Bristol Photographic Society

Report of the Council of Management for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Council of Management

The members of the Council are elected at the Annual General Meeting.

The current members of the Council of Management are named above. All members of the Council retire from office at the Annual General Meeting in accordance with the Articles of Association.

Risk Management

The Council of Management have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The main objective of the Society is to advance the education of the public in the science and art of photography.

A photography course is run each year available to members of the public, some members from the course join the society and progress as photographers as they benefit from the main activities of the Society which are the arrangement of photographic lectures, demonstrations, competitions, and exhibitions. There are also specialist groups such as Distinctions/Print Group able to offer individual support to members. This range of activities enables members to continuously improve and gain distinctions and awards.

This year of Covid restrictions has been particularly challenging, however the use of technologies such as zoom have enabled the regular weekly meetings and most of the competitions to continue with online attendance at pre-pandemic levels and weekly inspections of the property have been carried out to meet insurance requirements.

Results for the year are contained In the Statement of Financial Activities.

The Society does not make grants. The Society is run by volunteers who, other than the Secretary, are not entitled to remuneration and only expenses are claimed; although the Secretary can receive remuneration no payments were made in the year.

ACHIEVEMENT AND PERFORMANCE

The membership currently stands at 130.

The Covid pandemic has been a challenge to convert presentations to "Zoom". Despite many cancellations that were print based talks, we have managed to maintain a full programme including speakers from America and Europe

The Society’s competitions have been restricted to Projected Image and have remained very popular.

Members continue to do well in International Salons, with acceptances, medals, and other awards. It is often both the confidence and the improving photographic standard of their work that has been gained through the experience of the Society’s competitions that have been the foundation for this success.

The Society’s charitable work continues with the International Salon, the Photography Course. The Covid restriction meant it was not possible to host the distinctions and studio events for The Disabled Photographers Society, but BPS remains committed to this cause.

Photography course numbers were not as high as last year and totalled 9. The students mainly found the course via the society website, browser searches, Facebook page and word of mouth. The final competition attracted a good response and work was of a good standard. This year the course lectures were conducted online, the outdoor activities took place online with Corona virus restrictions and the Studio sessions were managed in smaller groups in line with prevailing guidelines / restrictions.

The monthly Digital Imaging Group continued to meet online using the zoom platform. These meetings enable members to present their work and gain feedback on their work in an informal atmosphere. Members also have an opportunity to show others new techniques they have been experimenting with. Technical demonstrations by more experienced members at these meeting help others to learn or update their skills in editing images. The continued lockdown restrictions imposed since March 2020 did not have any significant effect on the scheduled meetings and the increased numbers present held during the year.

The Distinctions/Print Group was not able to meet.

Distinctions number 102

Page 2

Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021		 Bristol Photographic Society
Report of the Council of Management for the Year Ended 31 March 2021
MFIAP FRPS Hon EFIAP EFIAP AFIAP APAGB MPAGB DPAGB FIPF CPAGB AWPF BPE ASPS SPSA ARPS LRPS
1 6 1 21 7 4 1 13 1 4 2 3 1 1 21 15

The 75th Bristol International Salon showed an increase in entries of approximately 50% compared to the previous year. A total of 12,684 images were submitted by 939 entrants. This increase can be explained, in part, by the Covid factor and the fact that 3 of the sections that had previously been prints had now been changed to projected images; it is acknowledged that projected images always attract larger entries than prints. An audio-visual presentation of accepted images was shown in Bristol and several other venues in the Southwest; however (owing to Covid) these presentations were made using Zoom.

The Society continues to liaise with and support / participate in the activities of the appropriate external organisations like the Western Counties Photographic Federation (WCPF) and Photographic Alliance of Great Britain (PAGB).

As reported last year BPS was the runner up at the 2019 inter-club competition – our qualification has been carried over to 2021 in the deferred / rescheduled competition to be held in July.

BPS has enjoyed a hugely successful year, one that has attracted other talented photographers to join our ranks. Successes include:

The Beyond the Wall Group was not able to meet.

The Studio group was not able to meet.

FINANCIAL REVIEW

The financial results for the year show, before the revaluation of the investments, an excess of income over expenditure of £4,514 (2020: deficit of income, £3,862). Total income was £31,555 (2020: £30,896) and total expenditure was £27,041 (2020: £34,758).

The Society's principal sources of funds are income from members' subscriptions, courses, the Bristol Salon, some exhibitions, Studio and Clubroom lettings, solar roof panels and advertisements. This year the Society benefitted from the sale of equipment donated by a former member, which raised £3,508.

The Bristol Salon this year contributed a surplus of £8,404 (2020: £2,672).

Page 3

Bristol Photographic Society

Statement of Financial Activities for the Year Ended 31 March 2021

2021
Unrestricted
fund
Notes
£
INCOME FROM
Subscriptions and donations
6,380
Society activities
23,712
Other trading activities
1,445
Investment income
2
18
Total
31,555
EXPENDITURE ON
Charitable activities
Society activities
27,041
Total
27,041
Net gains/(losses) on investments
27,089
NET INCOME/(EXPENDITURE)
31,603
RECONCILIATION OF FUNDS
Total funds brought forward
496,576
TOTAL FUNDS CARRIED FORWARD
528,179		 2020
Total
funds
£
6,103
20,788
3,943
62
30,896
34,758
34,758
(15,301)
(19,163)
515,739
496,576

The notes form part of these financial statements

Page 6

BalanceSheet
31March2021
2021 2020
Unrestricted Total
Notes fundt funds
L
FIXED ASSETS
Tangible assets tl 344,541 345,899
lnvestments 7 129,145 '102,056
469,686 447,955
CURRENT ASSETS
Prepayments and accrued income 1.071 1,371
Cashatbank and inhand o4,/ov 54,228
65,840 55,599
CREDITORS
Amounts falling due within one year I (7,347) (6 978)
NET CURRENT ASSETS 58,493 48.621
TOTAL ASSETS LESS CURRENT LIABILITIES 528j79 496,576
NETASSETS 528.179 496,576
FUNDS 9
Unrestricted funds 528,179 496,576
TOTALFUNDS _528,17-9 lggpzq

Bristol Photographic Society

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Tangible fixed assets Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on straight line basis
Fixtures and fittings - 20% on straight line basis
Furniture - written off during the year incurred
Computer equipment - 20% on straight line basis

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Council of Management. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME

Deposit account interest
3.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2021
£
18
2021
£
7,179		 2020
£
62
2020
£
11,594

4. COUNCIL OF MANAGEMENT REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Reimbursement expenses we paid to members of the Council of Management for the year ended 31 March 2021 and the year ended 31 March 2020.

Page 8

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Subscriptions and donations 6,103
Charitable activities
Society activities 20,788
Other trading activities 3,943
Investment income 62
Total 30,896
EXPENDITURE ON
Charitable activities
Society activities 34,758
Total 34,758
Net gains/(losses) on investments (15,301)
NET INCOME/(EXPENDITURE) (19,163)
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported 510,043
Prior year adjustment 5,696
As restated 515,739
TOTAL FUNDS CARRIED FORWARD 496,576

Page 9

Bristol Photographic Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

6. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Freehold
property
£
369,651
950
370,601
27,502
5,567
33,069
337,532
342,149
Furniture
£
3,735
-
3,735
3,735
-
3,735
-
-		 Plant and
machinery
£
12,836
871
13,707
9,976
1,299
11,275
2,432
2,860
Computer
equipment
£
3,116
-
3,116
2,398
254
2,652
464
718		 Fixtures
and
fittings
£
24,637
-
24,637
24,465
59
24,524
113
172
Totals
£
413,975
1,821
415,796
68,076
7,179
75,255
340,541
345,899

Land and buildings is made up on one freehold property located at Unit 13 Montpelier Central. This property was purchased in March 2015.

Depreciation is charged on the building element of freehold property at a rate of 2% on cost in accordance with FRS 102. The cost of the freehold land is not being depreciated.

Page 10

for the Year Ended 31 March 2021

Bristol Photographic Society

Notes to the Financial Statements - continued

7. INVESTMENTS

MARKET VALUE
At 1 April 2020
Revaluations
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Equity
£
102,056
27,089
129,145
129,145
102,056

Investments are a portfolio of funds and bonds. The return from these investments and other income of the Society should enable it to carry out effectively its current and future charitable activities.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bristol Salon of Photography (see note 6)
Accrued expenses		 2021
£
-
7,348
7,348		 2020
£
-
6,978
6,978

9. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.20
£
496,576
496,576		 Net
movement
in funds
£
31,603
31,603		 At
31.3.21
£
528,179
528,179

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 31,555 (27,041) 27,089 31,603
TOTAL FUNDS 31,555 (27,041) 27,089 31,603

Page 11

Bristol Photographic Society

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

11. CAPITAL COMMITMENTS

There are no material capital commitments outstanding.

Page 12

Bristol Photographic Society

Detailed Statement of Financial Activities
for the Year Ended 31 March 2021

INCOME
Subscriptions and donations
Charitable activities
Bristol Salon of Photography
Photography course fees
Advertising
Refreshments
Studio and room hire
Sale of donated goods
Income from other trading activities
Room hire - Commercial
Solar and other income
Investment income
Deposit account interest
Total incoming resources
EXPENDITURE
Expenditure on charitable activities
Bristol Salon of Photography
Members’ evenings etc.
Premises, administration, depreciation
Total resources expended
Net income/(expenditure) before gains and
losses
Realised recognised gains and losses
Unrealised gains/(losses) on investment assets
Net income/(expenditure)		 2021

£
6,380
17,649
1,285
450
-
820
3,508
23,712
-
1,445
1,445
18
31,555
10,688
1,712
14,641
27,041
27,041
4,514
27,089
31,603		 2020
£
6,103
12,594
2,910
900
974
3,410
-
20,788
2,881
1,062
3,943
62
30,896
10,985
4,629
19,144
34,758
34,758
(3,862)
(15,301)
(19,163)

This does not form part of the statutory financial statements Page 13