IMCoS Accounts to December 31st 2019

INCOME & EXPENDITURE ACCOUNT
Year ended 31 December 2019
20192018
INCOME££££
Membership subscriptions18,88719,527
Journal advertising18,26819,350
Map fair contributions255300
Website advertising1,089693
Members’ events (Note 4)306507
Royalty received2400
Book sales (net)463772
Bank interest419229
 ——–39,927 ——–41,378
EXPENDITURE
IMCoS journal28,96728,278
Gifts, awards & presentations40503
Malcolm Young lecture3000
Advertising & promotion01,601
Map & Society lectures400400
Library maintenance0175
AGM & committee meetings432422
Committee expenses220258
Printing & stationery11320
Archiving costs0199
Post & telecommunications236394
General insurance548548
Membership administration832688
Financial administration224256
Computer & website (Note 5)2,1875,604
Bank & credit card charges1,4331,660
 ——–35,830 ——–41,306
SURPLUS OF ORDINARY INCOME ——— ———
FOR THE YEAR£ 4,097£ 72
===== =====
.
BALANCE SHEET
Year ended 31 December 2019
20192018
££££
FIXED ASSETS
IMCoS library (less sales)500500
Website, subject to amortisation (Note 1)11,647
5012,147
CURRENT ASSETS
Bank balances (Note 2)91,69881,446
Prepayments1,478273
Accounts receivable7102,372
 ——–93,886 ——–84,091
CURRENT LIABILITIES
Prepaid membership subscriptions
2019011,688
202012,7055,282
20215,7881,333
20221,7630
Totals20,25618,303
Creditors4,3044,160
Advance receipts for UK events2,855900
 ——–27,415 ——–23,363
 ——– ——–
NET CURRENT ASSETS66,47160,728
 ——– ——–
NET ASSETS£ 66,972£ 62,875
 ===== =====
MEMBERS’ FUNDS
Balance brought forward62,87562,803
Surplus for year4,09772
  ——–  ——–
 TOTAL FUNDS£ 66,972£ 62,875
 ===== =====
Jeremy EdwardsHans Kok
Honorary TreasurerChairman
.
.
NOTES TO THE ACCOUNTS
Year ended 31 December 2019
20192018
1. WEBSITE££
Cost of new website9,8859,885
Less Amortisation9,8848,237
Carried forward11,647
.
The new website became operational on 1st July 2016.
This was amortised over three years to 30th June 2019.
.
2. BANK BALANCES
National Westminster Bank££
Current a/c15,58011,521
Bonus saver19,47524,426
Term deposits55,86945,499
Card collection suspense account7740
91,69881,446
.
3. UK LOCAL EVENTS
A donation of £1,000 was received in 2016 to assist in arranging visits
to places of interest. No allocation has been made in respect of 2019 (2018 nil).
Carry forward900900
Receipts in advance for visit 20201,9550
2,855900
.
4. MEMBERS EVENTS IncomeExpenditureSurplus2018
(Deficit)Net
££££
Annual Dinner1,5501,53416332
Oxford visit (2019)875585290
Cambridge visit (2018)175
2,4252,119306507
.
5. WEBSITE RUNNING COSTS20192018
£ £
Service & upgrading system541 2,309
Amortisation 1,6463,295
2,187 5,604

 

TREASURER’S COMMENTS ON THE ACCOUNTS FOR THE YEAR 2019

The Corona virus lock-down and the cancellation of the London Map fair means that it will not be possible to hold a physical Annual General Meeting this year. Arrangements may be possible for a virtual meeting which will be advised separately.

Our income has fallen slightly with a drop of £1,100 in advertising and a loss of a dozen members.

Eighteen months ago, when planning for 2019, there were plans for publicity, rationalisation of our archives and for restoring our volume of the Africa Pilot which did not come to fruition. As a result of these changes our actual expenditure has reduced by about £4,000. we have also benefited from having come to the end of the amortisation period (36 months) of our computer and software installations in 2016. these are working satisfactorily and no major expenditure is envisaged in 2020.

Our cash reserves remain strong and we should be able to weather the vicissitudes of COVID-19.

Jeremy Edwards

Treasurer