International Map Collectors' Society
| 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 | |||||||
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.
