IMCoS Accounts to December 31st 2019
| INCOME & EXPENDITURE ACCOUNT |
| Year ended 31 December 2019 |
| | | | | | |
| | | 2019 | 2018 |
| INCOME | £ | £ | £ | £ |
| Membership subscriptions | 18,887 | | 19,527 | |
| Journal advertising | 18,268 | | 19,350 | |
| Map fair contributions | 255 | | 300 | |
| Website advertising | 1,089 | | 693 | |
| Members’ events (Note 4) | 306 | | 507 | |
| Royalty received | 240 | | 0 | |
| Book sales (net) | 463 | | 772 | |
| Bank interest | 419 | | 229 | |
| | | ——– | 39,927 | ——– | 41,378 |
| EXPENDITURE | | | | |
| IMCoS journal | 28,967 | | 28,278 | |
| Gifts, awards & presentations | 40 | | 503 | |
| Malcolm Young lecture | 300 | | 0 | |
| Advertising & promotion | 0 | | 1,601 | |
| Map & Society lectures | 400 | | 400 | |
| Library maintenance | 0 | | 175 | |
| AGM & committee meetings | 432 | | 422 | |
| Committee expenses | 220 | | 258 | |
| Printing & stationery | 11 | | 320 | |
| Archiving costs | 0 | | 199 | |
| Post & telecommunications | 236 | | 394 | |
| General insurance | 548 | | 548 | |
| Membership administration | 832 | | 688 | |
| Financial administration | 224 | | 256 | |
| Computer & website (Note 5) | 2,187 | | 5,604 | |
| Bank & credit card charges | 1,433 | | 1,660 | |
| | | ——– | 35,830 | ——– | 41,306 |
| SURPLUS OF ORDINARY INCOME | | ——— | | ——— |
| FOR THE YEAR | | £ 4,097 | | £ 72 |
| | | | ===== | | ===== |
| . | | | |
| BALANCE SHEET |
| Year ended 31 December 2019 |
| | | 2019 | 2018 |
| | | £ | £ | £ | £ |
| FIXED ASSETS | | | | |
| IMCoS library (less sales) | | 500 | | 500 |
| Website, subject to amortisation (Note 1) | | 1 | | 1,647 |
| | | | 501 | | 2,147 |
| | | | | | |
| CURRENT ASSETS | | | | |
| Bank balances (Note 2) | 91,698 | | 81,446 | |
| Prepayments | 1,478 | | 273 | |
| Accounts receivable | 710 | | 2,372 | |
| | | ——– | 93,886 | ——– | 84,091 |
| | | | | | |
| CURRENT LIABILITIES | | | | |
| Prepaid membership subscriptions | | | | |
| 2019 | | 0 | | 11,688 | |
| 2020 | | 12,705 | | 5,282 | |
| 2021 | | 5,788 | | 1,333 | |
| 2022 | | 1,763 | | 0 | |
| Totals | | 20,256 | | 18,303 | |
| Creditors | | | 4,304 | | 4,160 | |
| Advance receipts for UK events | | 2,855 | | 900 | |
| | | ——– | 27,415 | ——– | 23,363 |
| | | | ——– | | ——– |
| NET CURRENT ASSETS | | 66,471 | | 60,728 |
| | | | ——– | | ——– |
| NET ASSETS | | | | £ 66,972 | | £ 62,875 |
| | | | ===== | | ===== |
| MEMBERS’ FUNDS | | | | |
| | | | | | |
| Balance brought forward | | 62,875 | | 62,803 |
| Surplus for year | | 4,097 | | 72 |
| | | | ——– | | ——– |
| TOTAL FUNDS | | | | £ 66,972 | | £ 62,875 |
| | | | ===== | | ===== |
| Jeremy Edwards | Hans Kok | | | |
| Honorary Treasurer | Chairman | | | |
| . | | | | | | |
.
NOTES TO THE ACCOUNTS | | | | |
| Year ended 31 December 2019 | | | | |
| | | 2019 | 2018 | | |
| 1. WEBSITE | £ | £ | | |
| Cost of new website | 9,885 | 9,885 | | |
| Less Amortisation | 9,884 | 8,237 | | |
| Carried forward | 1 | 1,647 | | |
| . | | | | | | |
| 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/c | | 15,580 | 11,521 | | |
| Bonus saver | | 19,475 | 24,426 | | |
| Term deposits | 55,869 | 45,499 | | |
| Card collection suspense account | 774 | 0 | | |
| | | 91,698 | 81,446 | | |
| . | | | | | | |
| 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 forward | 900 | 900 | | |
| Receipts in advance for visit 2020 | 1,955 | 0 | | |
| | | 2,855 | 900 | | |
| . | | | | | | |
| 4. MEMBERS EVENTS | | Income | Expenditure | Surplus | 2018 |
| | | | | (Deficit) | Net |
| | | £ | £ | £ | £ |
| Annual Dinner | 1,550 | 1,534 | 16 | 332 |
| Oxford visit (2019) | 875 | 585 | 290 | – |
| Cambridge visit (2018) | – | – | – | 175 |
| | | 2,425 | 2,119 | 306 | 507 |
| | | | | | |
| . | | | | | | |
| 5. WEBSITE RUNNING COSTS | | 2019 | 2018 | |
| | £ | £ | |
| Service & upgrading system | 541 | 2,309 |
| Amortisation | 1,646 | 3,295 |
| | | | 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
