International Map Collectors' Society
| INCOME & EXPENDITURE ACCOUNT | |||||||
| Year ended 31 December 2021 | |||||||
| 2021 | 2020 | ||||||
| INCOME | £ | £ | £ | £ | |||
| Membership subscriptions | 19,701 | 18,856 | |||||
| Journal advertising | 16,354 | 13,421 | |||||
| Map fair contributions | 0 | 100 | |||||
| Website advertising | 1,302 | 1,194 | |||||
| Members’ events (net) (Note 4) | -117 | -224 | |||||
| Royalty received | 29 | 197 | |||||
| Book & Journal sales | 622 | 173 | |||||
| Bank interest | 79 | 360 | |||||
| ——– | 37,970 | ——– | 34,077 | ||||
| EXPENDITURE | |||||||
| IMCoS journal | 31,126 | 30,745 | |||||
| Advertising & promotion | 0 | 68 | |||||
| AGM & committee meetings | 499 | 9 | |||||
| International events | 388 | 0 | |||||
| Postage | 293 | 272 | |||||
| General insurance | 552 | 548 | |||||
| Membership administration | 792 | 640 | |||||
| Financial administration | 192 | 212 | |||||
| Computer & website (Note 5) | 1,288 | 685 | |||||
| Bank & credit card charges | 727 | 537 | |||||
| ——– | 35,857 | ——– | 33,716 | ||||
| SURPLUS OF ORDINARY INCOME | ——— | ——— | |||||
| FOR THE YEAR | £ 2,113 | £ 361 | |||||
| ===== | ===== | ||||||
| . | |||||||
| BALANCE SHEET | |||||||
| Year ended 31 December 2021 | |||||||
| 2021 | 2020 | ||||||
| £ | £ | £ | £ | ||||
| FIXED ASSETS | |||||||
| IMCoS library (less sales) | 500 | 500 | |||||
| Website, subject to amortisation (Note 1) | 1 | 1 | |||||
| 501 | 501 | ||||||
| CURRENT ASSETS | |||||||
| Bank balances (Note 2) | 94,549 | 87,043 | |||||
| Prepayments | 398 | 198 | |||||
| Accounts receivable | 0 | 260 | |||||
| ——– | 94,947 | ——– | 87,501 | ||||
| CURRENT LIABILITIES | |||||||
| Prepaid membership subscriptions | |||||||
| 2021 | 0 | 12,127 | |||||
| 2022 | 12,857 | 5,208 | |||||
| 2023 | 6,158 | 1,758 | |||||
| 2024/25 | 2,055 | 1,758 | |||||
| Totals | 21,070 | 19,093 | |||||
| Creditors | 4,032 | 676 | |||||
| Advance receipts for UK events | 900 | 900 | |||||
| ——– | 26,002 | ——– | 20,669 | ||||
| ——– | ——– | ||||||
| NET CURRENT ASSETS | 68,945 | 66,832 | |||||
| ——– | ——– | ||||||
| NET ASSETS | £ 69,446 | £ 66,333 | |||||
| ===== | ===== | ||||||
| MEMBERS’ FUNDS | |||||||
| Balance brought forward | 67,333 | 66,972 | |||||
| Surplus for year | 2,113 | 361 | |||||
| ——– | ——– | ||||||
| TOTAL FUNDS | £ 69,446 | £ 67,333 | |||||
| ===== | ===== | ||||||
| Cinzia Viviani | Val Newby | ||||||
| Honorary Treasurer | Acting Chairman | ||||||
| . | |||||||
| . NOTES TO THE ACCOUNTS | |||||||
| Year ended 31 December 2021 | |||||||
| 2021 | 2020 | ||||||
| 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 | 15,165 | 7,739 | |||||
| Bonus saver | 8,083 | 8,082 | |||||
| Term deposits | 71,301 | 71,222 | |||||
| Card collection suspense account | 0 | 0 | |||||
| 94,549 | 87,043 | ||||||
| . | |||||||
| 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 2021 (2020 nil). | |||||||
| Carry forward | 900 | 900 | |||||
| . | |||||||
| 4. MEMBERS EVENTS | Income | Expenditure | Surplus | 2020 | |||
| (Deficit) | Net | ||||||
| £ | £ | £ | £ | ||||
| Annual Dinner | 0 | 117 | -117 | -144 | |||
| Scotland visit | 0 | 0 | -0 | -80 | |||
| 0 | 117 | -117 | -224 | ||||
| . | |||||||
| 5. WEBSITE RUNNING COSTS | 2021 | 2020 | |||||
| £ | £ | ||||||
| Service & upgrading system | 1,288 | 685 | |||||
| Amortisation | 0 | 0 | |||||
| 1,288 | 685 | ||||||
| 6. CONTINGENT LIABILITIES | |||||||
| There are at present no contingent liabilities (2020: £5,000). | |||||||
The apparent large rise in Journal Advertising income is because advertisers were not charged for their March 2020 adverts due to the Covid-19 pandemic and the start of the first lockdown.
