**Charity number: 529709**
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **CONTENTS**
||Page|
|---|---|
|**Members of the board and professional advisors**|1|
|**Trustees' report**|2 - 8|
|**Independent examiner's report**|9|
|**Statement of financial activities**|10|
|**Balance sheet**|11|
|**Notes to the financial statements**|12 - 29|
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES WHO ARE OFFICERS OF THE SOCIETY AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Trustees who are**
**Officers of the Society**|Miss C Brophy, Chair|
|---|---|
||Mr J Coulson, Co-opted as Hon Website Officer (from 27.10.22)|
||Mrs F Hurst, Hon Editor (from 21.4.22)|
||Dr P J Hogarth, Hon Librarian / Acting Hon Archivist|
||Mr R Pauer, Hon Website Officer (retired 8.7.22, died 11.9.22)|
||Dr R M Pinder, Vice Chair|
||Mrs C Y Smith, (Vice-Chair and Hon Editor stepped down 21.4.22)|
|**Trustees**
Dr A K G Jones
Prof A C Marvin
Dr D A Nott
**Officers who are not a**
**Trustee**
Mrs M Leonard, Hon Social Secretary (Acting)
Mr P Thornley, Chair of YPS Geology Group
**Charity registered**
**number**
529709
**Principal office**
The Lodge
Museum Gardens
York
YO1 7DR
**Bankers**
Lloyds Bank Plc
2 Pavement
York
YO1 2NE
**Independent examiner**
Laura Masheder FCA DChA
BHP LLP
Rievaulx House
1 Blossom Street
York
YO24 1AH
**Investment adviser**
Brewin Dolphin
10 Wellington Place
Leeds
LS1 4AN||
Page 1
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees present their annual report together with the unaudited financial statements of the Society for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
## **THE TRUSTEES**
The trustees who served the Society during the period were as follows:
Miss C Brophy (Chair) Mr J Coulson (Hon Website Officer from 27.10.22) Dr P J Hogarth (Hon Librarian/Acting Hon Archivist) Mrs F Hurst (Hon Editor) Dr A K G Jones Professor A Marvin Dr D A Nott Mr R Pauer (Hon Website Officer to 8.7.22) Dr R M Pinder (Vice-Chair) Mrs C Y Smith (Vice-Chair)
## **Structure, governance and management**
## **a. Constitution**
The Yorkshire Philosophical Society was founded in 1822. A Charity Commission scheme dated 13 December 1960, which gives authority to the Laws of the Society, governs it.
The Society continues to review and update its policies in accordance with Charity Commission and statutory guidance. The Society has been careful to take the necessary steps to ensure that its reduced activities in the pandemic are operated in a Covid 19 safe manner in every respect.
In 2020 the Society identified the significant risks that would seriously impede its charitable objectives if ignored. These risks are being brought together in a risk register, which is updated regularly. In 2022 activities increased on the 2020 programme but still not to pre-pandemic levels.
Page 2
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Structure, governance and management (continued)**
## **b. Methods of appointment or election of Trustees**
The Trustees, who are all members of the governing Council, comprise the three principal officers and between six and twelve elected ordinary members who are elected at the Annual General Meeting. All officers are nominated by Council and confirmed at the next Annual General Meeting and serve for a term of five years, which may be extended for a further term. There are various restrictions on length of service.
Council also includes non voting honorary vice presidents and it has the power to fill casual vacancies including honorary officers.
Professor Sir John Holman was President of the Society until he stepped down in July 2022; he was not a Trustee.
## **c. Organisational structure and decision-making policies**
The Council, which meets regularly, administers the charity and may delegate any of its powers to appointed individuals, groups or committees in compliance with Section II of the Trustees Act 2000.
## **d. General Data Protection Register**
A working party of the Society ensures that the Society is GDPR compliant. The Hon. Secretary is the Society’s Data Protection Officer. From June 22, 2021, this role was taken by the Chair as this post is vacant.
## **e. Safeguarding**
The Society maintains a Safeguarding Policy. The Chair is the Society's Safeguarding Reporting Officer.
## **Objectives and activities of the YPS**
## **a. Public Benefit Statement**
The Trustees confirm that they have complied with their duty to have due regard to Charity Commission guidance on public benefit when exercising their power or duties.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 3
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Objectives and activities of the YPS (continued)**
## **b. Objectives**
The mission of the Yorkshire Philosophical Society is to promote public understanding of the sciences, including social sciences and archaeology, especially but not exclusively relating to Yorkshire, and their effects on society past, present and future.
Key initiatives include a programme of public lectures, study days and multi day educational tours. The Society supports research by the issue of grants and aims to initiate innovative partner projects, by, for instance, supporting the interests of the Yorkshire Museum, its collections, and the Museum Gardens. The Society established the Yorkshire Museum and Gardens in the nineteenth century and maintains an interest in this highly successful regional museum and supports many of its activities: with both grants and practical help from volunteers. The year 2022 marks the bicentenary year of the Society.
## **c. Activities**
The Society runs an annual programme of public lectures between September and July, often with mini themes. 'In 2021-22 one was ‘Climate Change’. When the Yorkshire Museum closed to the public in January to March, to save costs, it included the Tempest Anderson Hall, where the Society’s lectures are normally held. To maintain the Society’s charitable objective to promote public understanding of science the Society obtained a Zoom licence for up to 100 participants and continued to hold the lecture programme on that platform from January to April. In March we hosted an in-person lecture at Bootham School and their support was much appreciated. For the rest of the year most lectures were again held in the Tempest Anderson Hall.
The Society is an ally of The British Science Association (BSA). The Society promotes the public understanding of science more widely by holding occasional lectures outside York, as well as regular lectures at Café Scientifique in York, which in 2022 have been held occasionally in the Guildhall, thanks to sponsorship from the University of York.
Lectures continue to be planned and held with other societies and groups, including the York Museums Trust; York Festival of Ideas; The Yorkshire Geological Society; The University of Hull; The Institution of Engineering and Technology North Yorkshire Branch; PLACE; the Royal Geographical Society and the Yorkshire Gardens Trust.
## **d. Educational Excursions**
The Activities Group of the Society, in keeping with its wider remit of providing educational and social activities for members, usually organises several stimulating one day visits as well as longer study tours. In May 2022 it ran a multi day study tour to Manchester, Liverpool, Canals & Jodrell Bank. A summer garden party was held at the York Medical rooms and in January the Group arranged an online interactive virtual tour to Bletchley Park. In September, members joined a one-day visit to the National Trust’s Seaton Delavall Hall in Northumbria. Activities for the bicentenary are described in Section k below. The Geology Group has provided monthly online information and activities as well as in-person “Water Walks” and “Fire Walks” exploring the geology and history of York. Both were so well supported they were repeated.
Page 4
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Objectives and activities of the YPS (continued)**
## **e. Young People**
Children are welcome at all our events if accompanied by a parent or responsible adult. No charge is made to young people for these activities.
The Society’s 2022 prizes and awards included the John and Anne Phillips prize to a third-year geology undergraduate at the University of Hull. In July the graduation ceremony and prizegiving at the Department of Electronic Engineering, University of York, included the Chair presenting the 2022 YPS Malden Owen award to the winner. In November, at an archaeology lecture in the Yorkshire Museum, the Society awarded the annual Herman Ramm and Charles Wellbeloved prizes to four Archaeology students at the University of York, the joint winners for each award having received the joint highest marks in their research projects.
## **f. Bicentenary in 2022**
The bicentenary lecture programme “From Cave to Cosmos”, included two symposia in March and October. The first looked back to the impact of the 1821 discoveries in Kirkdale Cave and its continuing importance today. The Saturday programme of talks was held at Ryedale School in which 80 people participated. The day was organised in partnership with the Yorkshire Geological Society and a grant of £1,000 was agreed with the Curry Fund from the national Geologist’s Association.
The second symposium looked forward to the geological future of the Anthropocene. Professor Colin Waters from the University of Sheffield invited distinguished colleagues from the universities of Southampton, UCL and York to present their papers on the theme of “What does the Anthropocene look like? Evidence for its formalization as an epoch”. The event was supported by the Yorkshire Geological Society.
In November the book “From cave to cosmos: a history of the Yorkshire Philosophical Society” by historian Sarah Sheils was launched at a special event in the Yorkshire Museum. The evening began with two talks from twin sisters and university archaeology academics Melanie and Kate Giles. Each focused on a jewel in the Yorkshire Museum that they had researched, respectively “The Danes’ Graves wheel-headed pin” and “The Middleham Jewel”. A reception was then held in the Medieval Galleries to launch the book with an opportunity to meet the author. We are grateful to Sarah Sheils, and the small team who supported her, for producing this wellresearched and beautifully illustrated book.
On 7th December 2022, the actual 200th anniversary of the foundation of the society, 73 members and guests celebrated at a reception and dinner at York Mansion House. Professor Phil Manning, from the University of Manchester, was our guest speaker and reminded us of the achievements of the Society over these 200 years and issued us with a challenge for the next few years to attract and retain a wider demographic whilst fulfilling the charitable aims of stimulating public understanding of the sciences.
The Gardens Group and York Museum Gardens Manager’s plans for a bicentenary celebration included a small apple orchard as in Museum Gardens which began to come to fruition in November with the planting of fruit trees beside the Hospitium. Dr Peter Hogarth is working on short publications on the history of orchards in Museum Gardens and updated information about the trees. This area of the Gardens will be publicly inaugurated with a plaque unveiling in 2023.
Page 5
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Objectives and activities of the YPS (continued)**
## **g. Other Working Parties**
The Lecture Planning Group meets regularly online to assess topics and speakers from the many suggestions received from members and others. The Geology Group has provided a wealth of opportunities for members, including the John and Anne Phillips prize announcement and lecture in York in July and monthly updates online and in newsletters highlighting available geological activities, mostly online, but some for in-person activities. In October seven volunteers opened the YPS Lodge for “York Unlocked” when many of the secrets of York buildings are opened for the public. History displays and fossil handling were offered and we estimate that over 230 people visited during the four hour session. The Communications Group continues to update the website and plans to develop it further in future. Social media are regularly updated, and the Society’s Clerk has taken over the Society’s blog which provides features a wide range of countryside and historical stories. In 2021 Dr Peter Hogarth added a historical timeline of 1821-1822 activity on the blog, outlining the background to the foundation of the Society, which he continued throughout 2022.
## **Achievements and performance**
## **a. Review of activities**
Membership stands at 500 at the year end. In 2022, 37 people joined the Society whilst 35 left, not including 7 who died. Participation in the lecture programmes has been maintained: for online lectures participation was between 50 to 70 households and for in-person lectures, held from March to December, average attendance was 60.
## **b. Annual Report and Newsletters**
The Annual Report for 2021 is the bicentenary edition, and as usual includes the 2021 statement of accounts. It was published in Spring 2022, and posted to all members. The Hon. Editor, Mrs Carole Smith, who has served the Society diligently in this role, stepped down in Spring 2022 and handed over the editorship to Mrs Felicity Hurst. The quarterly newsletter, edited by the Clerk, Miss Frances Chambers, continues to include longer articles to compensate members, especially housebound members, for the effects of the pandemic on the lecture programme. As well as being available online the newsletter is sent by post to members without online access.
## **c. Role of Hon Secretary**
The post has been advertised but is currently vacant. Minute taking, and other aspects of the role, have been undertaken by Vice-Chair, Mrs Carole Smith.
## **d. Role of Treasurer**
The Society’s advertising for the role of Treasurer but has so far been unsuccessful. The Clerk has produced reports for each Council Meeting and assisted the Chair in presenting a financial report to each meeting.
Page 6
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Financial review**
## **a. Review and Going Concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence on a going-concern basis for the foreseeable future. The goingconcern principle governs preparation of the financial statements. Further details regarding its adoption can be found in the accounting policies.
In 2022 the Society accounts continued to be managed on Xero online. We are grateful to Miss Frances Chambers, Clerk to the Society, for the smooth operation of this system. A useful range of reports from Xero were available for Trustees in 2022.
Owing primarily to the volatility in the stock markets, 2022 was still an abnormal year for YPS finances, although the Society did receive a bequest of £35,000 from the estate of member David Rowe. By the 31st December 2022 the main investments with Brewin Dolphin had recovered a little: leaving an annual loss on revaluation of £67,794. Trustees are aware that these are long term investments but nevertheless regularly review the portfolio.
The loss of investments of £67,794 (2021: gain of £42,840) has resulted in an overall decrease in funds of £45,915 (2021: increase of £26,796), which offsets the net income of £21,879 (2021: net expenditure of £16,044). Total funds carried forward are £448,706 (2021: £494,621), which includes endowment funds of £354,540 (2021: £413,657) and restricted funds of £21,163 (2021: £24,057). Total unrestricted funds stand at £73,003 (2021: £56,907), of which £19,919 (2021: £24,289) has been designated for specific purposes. There is a balance of £53,084 (2021: £32,618) in general funds.
The Society's Investment and Reserves Policy has four main objectives: (1) to satisfy Charity Commission guidelines and requirements; (2) to establish appropriate funds for specific purposes, to give greater clarity to the Society's accounts; (3) to address the erosion over time of the Society's funds; (4) to emphasise the need to protect the long-term sustainability of the Society and its charitable works.
## **b. Investments**
A reasonable long term return on investments is being achieved within the bounds of reasonable risk, and sufficient income is generated to allow the various charitable activities to be financed in a sustainable manner. Losses in 2022 due to stock market fluctuations had slightly recovered by the year end.
## **c. Reserves**
The level of free reserves held by the Society, which amounted to £52,907 on 31 December 2022 (2021: £32,059) covers the target range of 6 to 12 month’s operating costs. They also cushion against unforeseen future events such as increased costs, fluctuations in the stock market and investment income, or reduced income from subscriptions and educational excursions.
The Trustees review the investments and reserves on at least an annual basis.
Page 7
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Future Plans**
IIn 2023 the Gardens Group will continue working with the Gardens Team to inaugurate the mini apple orchard and produce updated information about trees in the Museum Gardens.
A Symposium on the “History of Science in the North of England” will be held in June with the Centre for Eighteenth Century Studies at the University of York. The Society will offer two talks as part of the 2023 York Festival of Ideas alongside the main lecture programme
Trustees are considering ways to recruit new members and in particular new Trustees who can take on officer roles. As many other longstanding voluntary societies are finding, recruiting new volunteers is becoming a problem.
The Society continues to build links with partner organisations, particularly with York Museums Trust, York Explore, other learned societies, and the Universities of York, York St John, and Hull.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Catherine BrophyCatherine Brophy (Feb 22, 2023 11:23 GMT) Carole SmithCarole Smith (Feb 22, 2023 16:16 GMT) **Miss C Brophy Mrs C. Smith** Chair Vice-Chair Date: 16 February 2023
Page 8
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Independent examiner's report to the Trustees of Yorkshire Philosophical Society ('the charity'**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Laura Masheder (Feb 27, 2023 16:24 GMT)Laura Masheder Dated: Feb 27, 2023
Laura Masheder FCA DChA
## **BHP LLP**
Chartered Accountants Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH
Page 9
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Note**
**Income and**
**endowments from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
**Total income and**
**endowments**
**Expenditure on:**
Raising funds
6
Charitable activities
7
**Total expenditure**
**Net**
**income/(expenditure)**
**before net**
**(losses)/gains on**
**investments**
Net (losses)/gains on
investments
13
**Net income /**
**(expenditure)**
Transfers between
funds
16
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
Net movement in funds
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**2022**
**£**
**45,867**
**8,594**
**11,976**
**4**
**66,441**
**4,263**
**34,541**
**38,804**
**27,637**
**(7,864)**
**19,773**
**(3,677)**
**16,096**
**56,907**
**16,096**
**73,003**|**Restricted**
**funds**
**2022**
**£**
**500**
**3,762**
**-**
**-**
**4,262**
**-**
**9,545**
**9,545**
**(5,283)**
**(1,288)**
**(6,571)**
**3,677**
**(2,894)**
**24,057**
**(2,894)**
**21,163**|**Endowment**
**funds**
**2022**
**£**
**25**
**-**
**-**
**-**
**25**
**-**
**500**
**500**
**(475)**
**(58,642)**
**(59,117)**
**-**
**(59,117)**
**413,657**
**(59,117)**
**354,540**|**Total**
**funds**
**2022**
**£**
**46,392**
**12,356**
**11,976**
**4**
**70,728**
**4,263**
**44,586**
**48,849**
**21,879**
**(67,794)**
**(45,915)**
**-**
**(45,915)**
**494,621**
**(45,915)**
**448,706**|_Total_
_funds_
_2021_
_£_
_10,517_
_7,154_
_11,655_
_11_
_29,337_
_4,508_
_40,873_
_45,381_
_(16,044)_
_42,840_
_26,796_
_-_
_26,796_
_467,825_
_26,796_
_494,621_|
|---|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 29 form part of these financial statements.
Page 10
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **BALANCE SHEET AS AT 31 DECEMBER 2022**
|**Note**
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Stocks
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**Net current assets**
**Total net assets**
**Charity funds**
Endowment funds
16
Restricted funds
16
Unrestricted funds
16
**Total funds**|**3,498**
**37,631**
**41,129**
**(6,425)**|**2022**
**£**
**177**
**413,825**
**414,002**
**34,704**
**448,706**
**354,540**
**21,163**
**73,003**
**448,706**|_1,550_
_16,781_
_18,331_
_(6,458)_|_2021_
_£_
_559_
_482,189_|
|---|---|---|---|---|
|||||_482,748_
_11,873_|
|||||_494,621_|
|||||_413,657_
_24,057_
_56,907_|
|||||_494,621_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Catherine BrophyCatherine Brophy (Feb 22, 2023 11:23 GMT)
**Miss C Brophy** Chair
Carole Smith Carole Smith (Feb 22, 2023 16:16 GMT)
**Mrs C. Smith** Vice-Chair
## Date: 16 February 2023
The notes on pages 12 to 29 form part of these financial statements.
Page 11
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.2 Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **1.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 12
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. Accounting policies (continued)**
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objectives of the charity and include project management carried out at Headquarters.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made 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.
All expenditure is inclusive of irrecoverable VAT.
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.6 Taxation**
The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521 – s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 13
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. Accounting policies (continued)**
## **1.7 Tangible fixed assets and depreciation**
All assets are capitalised as directed by the trustees and are included at cost, including any incidental expense of acquisition.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives .
Depreciation is provided on the following bases:
- Office equipment 20% straight line - Computer equipment 20% straight line
## **1.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## **1.9 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **1.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 14
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. Accounting policies (continued)**
## **1.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **1.12 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.13 Pensions**
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
## **1.14 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds are expendable funds which are held on trust to be retained for the benefit of the charity as a capital fund. Any income generated is treated as unrestricted funds. Endowments may be converted into income.
Investment income, gains and losses are allocated to the appropriate fund.
Page 15
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. Critical accounting estimates and areas of judgment**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions to disclose, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2022**
**£**
Donations and legacies
35,158
Grants
-
Subscriptions
10,709
45,867
_Total 2021_
_10,517_|**Restricted**
**funds**
**2022**
**£**
-
500
-
500
_-_|**Endowment**
**funds**
**2022**
**£**
25
-
-
25
_-_|**Total**
**funds**
**2022**
**£**
**35,183**
**500**
**10,709**
**46,392**
_10,517_|_Total_
_funds_
_2021_
_£_
_237_
_-_
_10,280_
_10,517_|
|---|---|---|---|---|
||||||
Page 16
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2022**
**£**
Activities programme
-
Lecture programme
-
Sales of Garden History Books
336
Publications
113
From Cave to Cosmos Books
556
Bicentenary events and projects
7,589
8,594
_Total 2021_
_501_|**Restricted**
**funds**
**2022**
**£**
3,222
540
-
-
-
-
3,762
_6,653_|**Total**
**funds**
**2022**
**£**
**3,222**
**540**
**336**
**113**
**556**
**7,589**
**12,356**
_7,154_|_Total_
_funds_
_2021_
_£_
_6,611_
_42_
_215_
_286_
_-_
_-_
_7,154_|
|---|---|---|---|
|||||
## **5. Investment income**
|**Unrestricted**
**funds**
**2022**
**£**
Investment income from listed investments
11,692
Bank interest
284
11,976
_Total 2021_
_11,655_|**Total**
**funds**
**2022**
**£**
**11,692**
**284**
**11,976**
_11,655_|_Total_
_funds_
_2021_
_£_
_11,480_
_175_
_11,655_|
|---|---|---|
||||
Page 17
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **6. Costs of raising funds**
|**Unrestricted**
**funds**
**2022**
**£**
Investment management fees
4,263
_Total 2021_
_4,508_|**Total**
**funds**
**2022**
**£**
**4,263**
_4,508_|_Total_
_funds_
_2021_
_£_
_4,508_|
|---|---|---|
||||
## **7. Analysis of expenditure by activities**
|Activities programme
Lecture programme
Publications
Annual report
Grants, prizes and subscriptions
Membership services
Bicentenary project
Website
Other costs
_Total 2021_|**Activities**
**undertaken**
**directly**
**2022**
**£**
2,394
3,235
535
1,591
2,150
-
11,374
1,776
107
23,162
_19,948_|**Support**
**costs**
**2022**
**£**
1,535
1,481
3,374
161
322
12,283
982
1,286
-
21,424
_20,925_|**Total**
**funds**
**2022**
**£**
**3,929**
**4,716**
**3,909**
**1,752**
**2,472**
**12,283**
**12,356**
**3,062**
**107**
**44,586**
_40,873_|_Total_
_funds_
_2021_
_£_
_4,381_
_2,699_
_4,055_
_1,888_
_11,825_
_12,954_
_-_
_2,964_
_107_
_40,873_|
|---|---|---|---|---|
||||||
Page 18
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. Analysis of governance and other support costs**
|Printing and Stationery
Telephone and Broadband
Postage
Salaries
Insurance
Cleaning and office supplies
Copier lease and maintenance
Lodge refurb
Other support costs
Depreciation
Accountancy fees|**2022**
**£**
**405**
**305**
**872**
**10,647**
**924**
**956**
**1,712**
**-**
**361**
**382**
**4,860**
**21,424**|_2021_
_£_
_265_
_360_
_1,231_
_9,948_
_915_
_926_
_1,453_
_10_
_155_
_388_
_5,274_
_20,925_|
|---|---|---|
## **9. Independent examiner's remuneration**
Accountancy fees include the independent examiner's remuneration amounts to an independent examiner fee of £4,587 ( _2021_ - _£4,171_ ).
## **10. Staff costs**
|**Total staff costs were as follows:**
Wages and salaries
Pension contributions|**2022**
**£**
**10,519**
**128**
**10,647**|_2021_
_£_
_9,840_
_108_|
|---|---|---|
|||_9,948_|
The average number of persons employed by the charity during the year was as follows:
||**2022**|_2021_|
|---|---|---|
||**No.**|_No._|
|Number of employees|**1**|_1_|
No employee received remuneration amounting to more than £60,000 in either year.
Page 19
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or any other benefits _(2021 - £NIL)_ .
During the year ended 31 December 2022, expenses totalling £35 were reimbursed or paid directly to 1 Trustees (2021 - £584 to 3 Trustee).
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2022
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
**Net book value**
At 31 December 2022
_At 31 December 2021_|**Office**
**equipment**
**£**
**7,123**
**7,123**
**6,564**
**382**
**6,946**
**177**
_559_|**Computer**
**equipment**
**£**
**1,292**
**1,292**
**1,292**
**-**
**1,292**
**-**
_-_|**Total**
**£**
**8,415**
**8,415**|
|---|---|---|---|
||||**7,856**
**382**
**8,238**|
||||**177**|
||||_559_|
Page 20
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **13. Fixed asset investments**
|**Cost or valuation**
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
**Net book value**
At 31 December 2022
_At 31 December 2021_|**Listed**
**investments**
**£**
**478,429**
**76,882**
**(83,662)**
**(67,794)**
**403,855**
**403,855**
_478,429_|**Other**
**investments**
**£**
**3,760**
**95,354**
**(89,144)**
**-**
**9,970**
**9,970**
_3,760_|**Total**
**£**
**482,189**
**172,236**
**(172,806)**
**(67,794)**
**413,825**|
|---|---|---|---|
||||**413,825**
_482,189_|
The historical cost in relation to the above listed investments, as at year end, equated to £359,554 (2021 - £343,606).
## **14. Stocks**
||**2022**|_2021_|
|---|---|---|
||**£**|_£_|
|Stock|**3,498**|_1,550_|
Page 21
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **15. Creditors: Amounts falling due within one year**
|Trade creditors
Taxation and social security
Accruals and deferred income
**Deferred income**
Deferred income at 1 January
Income deferred during the year
Amounts released from previous periods
**Deferred income at 31 December**|**2022**
**£**
**108**
**31**
**6,286**
**6,425**
**2022**
**£**
**2,118**
**1,699**
**(2,118)**
**1,699**|_2021_
_£_
_92_
_77_
_6,289_
_6,458_
_2021_
_£_
_1,656_
_2,118_
_(1,656)_
_2,118_|
|---|---|---|
Deferred income represents event income and members subscriptions received in advance.
Page 22
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **16. Statement of funds**
## **Statement of funds - current year**
|**Designated**
**funds**
Bicentenary
Fund
Life Membership
Fund
**General funds**
General Funds
**Total**
**Unrestricted**
**funds**
**Endowment**
**funds**
Tempest
Anderson
Bequest (prev
1960
Endowment)
Owen / Malden
Memorial Fund
John Hampshire
Bequest|**Balance at 1**
**January**
**2022**
**£**
**20,000**
**4,289**
**24,289**
**32,618**
**56,907**
**313,257**
**76,371**
**24,029**
**413,657**|**Income**
**£**
**8,145**
**300**
**8,445**
**57,996**
**66,441**
**-**
**-**
**25**
**25**|**Expenditure**
**£**
**(12,356)**
**-**
**(12,356)**
**(26,448)**
**(38,804)**
**-**
**(500)**
**-**
**(500)**|**Transfers**
**in/out**
**£**
**-**
**(459)**
**(459)**
**(3,218)**
**(3,677)**
**-**
**-**
**-**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**(7,864)**
**(7,864)**
**(44,409)**
**(10,827)**
**(3,406)**
**(58,642)**|**Balance at**
**31**
**December**
**2022**
**£**
**15,789**
**4,130**
**19,919**|
|---|---|---|---|---|---|---|
|||||||**53,084**|
|||||||**73,003**|
|||||||**268,848**
**65,044**
**20,648**
**354,540**|
Page 23
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **16. Statement of funds (continued)**
|**Restricted**
**funds**
Archaeology & H
G Ramm Fund
YPS Science
Prize fund
Lecture
Programme
Activities
Programme
Geology Group
Fund
**Total of funds**|**Balance at 1**
**January**
**2022**
**£**
**12,874**
**4,655**
**-**
**6,022**
**506**
**24,057**
**494,621**|**Income**
**£**
**-**
**-**
**1,040**
**3,222**
**-**
**4,262**
**70,728**|**Expenditure**
**£**
**(600)**
**(300)**
**(4,717)**
**(3,928)**
**-**
**(9,545)**
**(48,849)**|**Transfers**
**in/out**
**£**
**-**
**-**
**3,677**
**-**
**-**
**3,677**
**-**|**Gains/**
**(Losses)**
**£**
**(1,288)**
**-**
**-**
**-**
**-**
**(1,288)**
**(67,794)**|**Balance at**
**31**
**December**
**2022**
**£**
**10,986**
**4,355**
**-**
**5,316**
**506**
**21,163**|
|---|---|---|---|---|---|---|
|||||||**448,706**|
Page 24
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **16. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Designated**
**funds**
Bicentenary
Fund
Life Membership
Fund
Website
Development
YMT Donations
**General funds**
General Funds
**Total**
**Unrestricted**
**funds**
**Endowment**
**funds**
Tempest
Anderson
Bequest (prev
1960
Endowment)
Owen / Malden
Memorial Fund
John Hampshire
Bequest|_Balance at_
_1 January_
_2021_
_£_
_29,417_
_4,765_
_2,689_
_10,000_
_46,871_
_19,539_
_66,410_
_284,937_
_69,921_
_21,857_
_376,715_|_Income_
_£_
_-_
_-_
_-_
_-_
_-_
_22,684_
_22,684_
_-_
_-_
_-_
_-_|_Expenditure_
_£_
_-_
_-_
_(2,964)_
_(10,000)_
_(12,964)_
_(23,637)_
_(36,601)_
_-_
_(500)_
_-_
_(500)_|_Transfers_
_in/out_
_£_
_(9,417)_
_(476)_
_275_
_-_
_(9,618)_
_9,448_
_(170)_
_-_
_-_
_-_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_-_
_-_
_4,584_
_4,584_
_28,320_
_6,950_
_2,172_
_37,442_|_Balance at_
_31_
_December_
_2021_
_£_
_20,000_
_4,289_
_-_
_-_
_24,289_|
|---|---|---|---|---|---|---|
|||||||_32,618_|
|||||||_56,907_|
|||||||_313,257_
_76,371_
_24,029_
_413,657_|
Page 25
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **16. Statement of funds (continued)**
|**Restricted**
**funds**
Archaeology & H
G Ramm Fund
YPS Science
Prize fund
Lecture
Programme
Activities
Programme
Geology Group
Fund
**Total of funds**|_Balance at_
_1 January_
_2021_
_£_
_12,660_
_5,255_
_2,487_
_3,834_
_464_
_24,700_
_467,825_|_Income_
_£_
_-_
_-_
_42_
_6,569_
_42_
_6,653_
_29,337_|_Expenditure_
_£_
_(600)_
_(600)_
_(2,699)_
_(4,381)_
_-_
_(8,280)_
_(45,381)_|_Transfers_
_in/out_
_£_
_-_
_-_
_170_
_-_
_-_
_170_
_-_|_Gains/_
_(Losses)_
_£_
_814_
_-_
_-_
_-_
_-_
_814_
_42,840_|_Balance at_
_31_
_December_
_2021_
_£_
_12,874_
_4,655_
_-_
_6,022_
_506_
_24,057_|
|---|---|---|---|---|---|---|
|||||||_494,621_|
## **Fund descriptions:**
## Bicentenary Fund
To enable the Society to mark its bicentenary celebrations in the years up to 2022, including related initiatives in Museum Gardens or in the dissemination of York's history and updating of the YPS website.
## Life Membership Fund
To hold the life membership subscriptions, to provide the future costs of membership services to Life Members. These costs are accounted for at the rate of 10% pa.
## Website Development
To upgrade or replace the Society's current website in line with projected needs.
## YMT Donations Fund
This fund is to cover actual and potential commitment to the YMT, which are sometimes delayed while the YMT obtains third party permissions and funding.
## Tempest Anderson Bequest (prev. 1960 Endowment)
To provide long term sustainability of the Society and its charitable purposes, by providing a base level of guaranteed income.
Page 26
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## Owen/Malden Memorial Fund
To promote Alan Owen's interests in the public understanding of electrical engineering and other STEMM subjects, his love of the outdoors, and his desire to give young people educational and other opportunities to make progress in their lives.
## John Hampshire Bequest
To support initiatives in areas of interest to John Hampshire, including geology, archaeology, Roman history, Museum Gardens, education and YPS history.
## Archaeology & HG Ramm Fund
To support YPS initiatives in archaeology, including awards to selected undergraduates and postgraduates studying archaeology in a higher education establishment based in York.
## YPS Science Prize Fund
To provide an annual science prize for secondary school children in Yorkshire, made possible by a generous donation from John Hampshire. The criteria for the prize will be reviewed on an annual basis, but with a broad interpretation of Yorkshire'.
## Lecture Programme Fund
To support the YPS broader lecture programme, including lectures and talks in the Tempest Anderson Hall, Café Scientifique, outreach lectures, and joint lectures with kindred organisations. Emphasis will be given to science, engineering, and technology topics, as well as other lecture topics broadly within the Society's mission.
## Activities Programme
To fund visits & excursions, social events and the Presidents evening, with any surplus being used for the Society's charitable activities in general.
## Geology Group Fund
To support the initiatives of the YPS Geology Group.
## Fund transfers
An annual transfer of 10% of the designated Life Membership fund to general funds has been made in the financial year.
Where projects required additional expenditure in the year, this has been sourced from the general funds and is shown as transfers into designated funds or restricted funds.
Page 27
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **17. Summary of funds**
## **Summary of funds - current year**
|Designated
funds
General funds
Endowment
funds
Restricted funds|**Balance at 1**
**January**
**2022**
**£**
**24,289**
**32,618**
**413,657**
**24,057**
**494,621**|**Income**
**£**
**8,445**
**57,996**
**25**
**4,262**
**70,728**
_Income_
_£_
_-_
_22,684_
_-_
_6,653_
_29,337_|**Expenditure**
**£**
**(12,356)**
**(26,448)**
**(500)**
**(9,545)**
**(48,849)**
_Expenditure_
_£_
_(12,964)_
_(23,637)_
_(500)_
_(8,280)_
_(45,381)_|**Transfers**
**in/out**
**£**
**(459)**
**(3,218)**
**-**
**3,677**
**-**
_Transfers_
_in/out_
_£_
_(9,618)_
_9,448_
_-_
_170_
_-_|**Gains/**
**(Losses)**
**£**
**-**
**(7,864)**
**(58,642)**
**(1,288)**
**(67,794)**
_Gains/_
_(Losses)_
_£_
_-_
_4,584_
_37,442_
_814_
_42,840_|**Balance at**
**31**
**December**
**2022**
**£**
**19,919**
**53,084**
**354,540**
**21,163**
**448,706**|
|---|---|---|---|---|---|---|
|||||||_Balance at_
_31_
_December_
_2021_
_£_
_24,289_
_32,618_
_413,657_
_24,057_
_494,621_|
|**Summary of funds - prior year**|||||||
|Designated
funds
General funds
Endowment
funds
Restricted funds|_Balance at_
_1 January_
_2021_
_£_
_46,871_
_19,539_
_376,715_
_24,700_
_467,825_||||||
Page 28
## **YORKSHIRE PHILOSOPHICAL SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£**
Tangible fixed assets
177
Fixed asset investments
51,112
Current assets
28,139
Creditors due within one year
(6,425)
**Total**
73,003
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2021_
_£_
Tangible fixed assets
_559_
Fixed asset investments
_59,418_
Current assets
_3,388_
Creditors due within one year
_(6,458)_
**Total**
_56,907_|**Restricted**
**funds**
**2022**
**£**
-
7,697
13,466
-
21,163
_Restricted_
_funds_
_2021_
_£_
_-_
_9,114_
_14,943_
_-_
_24,057_|**Endowment**
**funds**
**2022**
**£**
-
355,016
(476)
-
354,540
_Endowment_
_funds_
_2021_
_£_
_-_
_413,657_
_-_
_-_
_413,657_|**Total**
**funds**
**2022**
**£**
**177**
**413,825**
**41,129**
**(6,425)**
**448,706**
_Total_
_funds_
_2021_
_£_
_559_
_482,189_
_18,331_
_(6,458)_
_494,621_|
|---|---|---|---|
|**Analysis of net assets between funds - prior**||||
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**||||
## **19. Related party transactions**
During the year there were no related party transactions to disclose (2021 - no transactions).
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