IMCoS Accounts to December 31st 2020

INCOME & EXPENDITURE ACCOUNT
Year ended 31 December 2020

		2020		2019
INCOME		£	£	£	£
Membership subscriptions		18,856		18,887
Journal advertising		13,421		18,268
Map fair contributions		100		255
Website advertising		1,194		1,089
Members’ events (net) (Note 4)		-224		306
Royalty received		197		240
Book sales (net)		173		463
Bank interest		360		419
		——–	34,077	——–	39,927
EXPENDITURE
IMCoS journal		30,745		28,967
Gifts, awards & presentations		0		40
Malcolm Young lecture		0		300
Advertising & promotion		68		0
Map & Society lectures		0		400
AGM & committee meetings		9		432
Committee expenses		0		220
Printing & stationery		0		11
Post & telecommunications		272		236
General insurance		548		548
Membership administration		640		832
Financial administration		212		224
Computer & website (Note 5)		685		2,187
Bank & credit card charges		537		1,433
		——–	33,716	——–	35,830
SURPLUS OF ORDINARY INCOME			———		———
FOR THE YEAR			£ 361		£ 4,097
			=====		=====
.
BALANCE SHEET
Year ended 31 December 2020
		2020		2019
		£	£	£	£
FIXED ASSETS
IMCoS library (less sales)			500		500
Website, subject to amortisation (Note 1)			1		1
			501		501

CURRENT ASSETS
Bank balances (Note 2)		87,043		91,698
Prepayments		198		1,478
Accounts receivable		260		710
		——–	87,501	——–	93,886

CURRENT LIABILITIES
Prepaid membership subscriptions
	2020	0		12,705
	2021	12,127		5,788
	2022	5,208		1,763
	2023/25	1,758		0
	Totals	19,093		20,256
Creditors		676		4,304
Advance receipts for UK events		900		2,855
		——–	20,669	——–	27,415
			——–		——–
NET CURRENT ASSETS			66,832		66,471
			——–		——–
NET ASSETS			£ 67,333		£ 66,972
			=====		=====
MEMBERS’ FUNDS

Balance brought forward			66,972		62,875
Surplus for year			361		4,097
			——–		——–
TOTAL FUNDS			£ 67,333		£ 66,972
			=====		=====
	Cinzia Viviani	Val Newby
	Honorary Treasurer	Acting Chairman
.
. NOTES TO THE ACCOUNTS
Year ended 31 December 2020
		2020	2019
1. WEBSITE		£	£
	Cost of new website	9,885	9,885
	Less Amortisation	9,884	9,884
	Carried forward	1	1
.
	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	7,739	15,580
	Bonus saver	8,082	19,475
	Term deposits	71,222	55,869
	Card collection suspense account	0	774
		87,043	91,698
.
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 2020 (2019 nil).
	Carry forward	900	900
.
4. MEMBERS EVENTS		Income	Expenditure	Surplus	2019
				(Deficit)	Net
		£	£	£	£
Annual Dinner		0	144	-144	16
Scotland visit		0	80	-80	0
Oxford visit (2019)		–	–	–	290
		0	224	-224	306

.
5. WEBSITE RUNNING COSTS			2020	2019
			£	£
	Service & upgrading system		685	541
	Amortisation		0	1,646
			685	2,187
6. CONTINGENT LIABILITIES
The Society has given a guarantee to the Brussels Map Circle against loss of up to £5,000 in respect of the organisation of the Symposium to be held 11-14 October 2021

GENERAL NOTE FOR THE YEAR 2020

At the onset of COVID -19 and the first lockdown in March 2020, the executive Committee resolved that advertisers would not be charged for insertions in the March Journal and that Members’ events should be cancelled. Subsequently many of the society’s usual expenses have not been incurred.

Accounts 2020

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IMCoS Accounts to December 31st 2020

GENERAL NOTE FOR THE YEAR 2020