REGISTERED COMPANY NUMBER: 03956233 (England and Wales)

REGISTERED CHARITY NUMBER: 1083019

International Association of

Hydrogeologists

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Report of the Trustees

1

to

5

Independent Examiner's Report

6

Statement of Financial Activities

7

Balance Sheet

8

to

9

Notes to the Financial Statements

10

to

18

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

All the Association's assets and funds are directed towards meeting the objectives that are contained in the Articles of Association of the Company. These are to advance public education and promote research (and disseminate the useful results of such research) in the study and knowledge of hydrogeological science.

The Association seeks to achieve these objectives by:

-

Publishing journals, books, newsletters and other occasional publications, in both hard copy and electronic format, for the benefit of members and the wider community interested in the objects of the Association;

-

Publishing of videos, webinars and other online educational materials;

-

Promoting international co-operation among hydrogeologists and others with an interest in groundwater through commissions, networks, working groups and joint projects;

-

Encouraging the worldwide application of hydrogeological skills through education and technology transfer programmes. The Burdon Fund was established by IAH to support hydrogeologists in developing nations. IAH also runs a sponsored membership scheme to help hydrogeologists in developing nations share in the benefits of IAH membership. The Association has enhanced its capacity to do this by establishing an Education and Development Fund and a Sponsorship Fund;

-

Sponsoring international meetings, including an annual congress, and regional and national meetings;

-

Co-operating with national and international scientific organisations, to promote understanding of groundwater in the international management of water resources and the environment.

While these aims and objectives are clear, consistent and long-term, it is nevertheless prudent for the Association to review from time to time the activities that are undertaken and expenditures made in pursuit of these aims. To this end, the strategic plan for the period to 2030 includes recommendations for activities to strengthen the Association's membership, educational and scientific programmes, communications, conferences, provision of web-based services, income diversification and many others. Progress in implementing this strategic plan will be reviewed regularly by the Executive Committee of IAH and reported to the Trustees and Council.

In carrying out these objectives and aims, the Trustees have complied with their duty to have due regard to the guidance published by the Charity Commission on Public Benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Association meets its charitable objectives in several ways.

The Association maintains a sponsored membership scheme for professional colleagues who for financial or practical reasons find it difficult to pay their own fees. This helps them to receive scientific knowledge and maintain technical contact with recent developments in groundwater science. To provide support for this, in 2009 the Association established a Sponsored Membership Fund of £10,000. The scheme is reviewed regularly to identify members who have been sponsored for long periods and whose personal career and national economic situations mean that they might be able to pay for themselves, thus freeing up funds for new sponsored members. At the end of 2024 total membership of this scheme stood at 265 members, with £5,256 provided from central funds to cover the sponsorship of 155 members. This left a deficit of £5,256 at the end of the year and the fund was replenished by transferring £5,256 from general funds. The remaining sponsored members were supported by National Chapters and individual IAH members.

To further enhance its charitable activities in the field of education, in 2009 the Association established a separate Education and Development Fund with an initial amount of £10,000, which is now maintained at £15,000. The Fund is intended to be used to support IAH members for educational and scientific purposes in the field of hydrogeology.

The major vehicle for education and dissemination of research is Hydrogeology Journal. With eight issues per year, this continues to meet its targets for scientific articles and reports disseminated, and also in terms of the encouragement of a broad spread internationally of the authors' countries of origin. Further, the wide geographical spread of the editorial board enables us to meet our objective of supporting publication in English of any scientific paper or report of merit regardless of the authors' own source language and facilities for translation. Hydrogeology Journal maintained an impressive scientific citation index for its category while meeting the Association's objective of providing an accessible outlet for high-quality hydrogeological science. Royalties for the Journal received in 2024 from our publishers, relating to turnover during 2023, amounted to £22,165. A small sum was also received in respect of our books series.

Total expenditure from the Education and Development Fund amounted to £7,387 and the Fund was replenished by transferring this amount from general funds. This was mostly to support the attendance of lower-income delegates at our Congress in Davos, Switzerland. Funding was also provided to the Groundwater Project to support the free availability of books and educational materials via the internet. Funding from our Burdon Network was also used to support the attendance of lower-income delegates at our Congress in Davos (£2,864).

Funding of £2,998 was made available to our Early Career Hydrogeologists to support younger members' attendance at our annual congress, where they would not otherwise have this opportunity. Small updates were made to our website to support publication of further educational information (£4,393).

Trading activities

These are carried out through the Association's subsidiary company World-Wide Groundwater Ltd. (WWGW). Following completion of the Global Environment Facility project on groundwater governance, no further income has been received since 2014. The company is, however, maintained at a small charge in the event of further requirements arising for its use. WWGW's bank account has continued to be used as a repository for a part of IAH's funds following the unexpected closure by the bank in 2022 of IAH's account. The amount held by WWGW on behalf of the charity at 31 December 2024 was £48,714 (2023: £83,249).

FINANCIAL REVIEW

Results for the year

Total income for the year was £319,250 (2023: £319,164). Total expenditure was £321,916 (2023: £324,575), resulting in a deficit across the year of £2,666 (2023: £5411). Currency exchange changes led to a paper loss of £7,374 (2023: loss of £5,231). The total deficit was £10,040 (2023: deficit of £10,642). However, reserves at the year-end remained sound at £251,620 (2023: £261,660).

Income from member subscriptions was £213,967, which was similar to 2023 (£213,486). This was despite an increase in membership of more than 300 but which was counter-balanced by more members opting for online access rather than paper copies of Hydrogeology Journal and increasing popularity of our free student membership category. The overall fall in income resulted from royalties falling back to a more normal level (£22,632) following the exceptional one-off back-payment received in 2023 (totalling £42,774). The significant donation received from the surplus generated by the Cape Town Congress in 2023 (£18,841) moderated this fall in income.

A major cost during the year was support for the attendance of the IAH officers at the meeting of the Executive Committee and the Council meeting and Congress in Davos, Switzerland (£28,845). Support for delegates to congress from low-income backgrounds was also significant (totalling £7,635 ), though overall expenditure towards the annual congress was significantly lower than for 2023, when the congress was held in Cape Town.

Stipends for HJ Editors increased, to $9,000 pa having been held at $8,000 pa since the inception of the current staff structure 19 years ago. A contractor was engaged to manage voting for our 4-yearly elections for IAH's Officers (£1,980) and there were further legal costs in support of our governance revisions (£1,470). Expenditure on salaries also increased, reflecting cost of living rises.

Significant funds (£48,714) continued to be held in the separate bank account of IAH's subsidiary, World-Wide Groundwater, following unexplained closure of IAH's own account by the bank in 2022 (2023: £83,249). The amount held in the WWGW account has been reduced with transfers back to IAH, though it is acknowledged that distributing IAH's funds across several bank accounts affords additional security under the Financial Services Compensation Scheme.

Reserves policy

As at 31 December 2024 the amount of reserves were £251,620 (compared to £261,660 at 31 December 2023) of which £217,634 were free reserves (compared to £227,734 at 31 December 2023). Free reserves are reserves which do not include the restricted funds of £32,455 and reserves tied up in fixed assets of £1,531.

In addition to the management of the Burdon Fund, the Association has adopted a reserves policy for the management of its general funds with the following objectives:

1.

To provide funds to continue the orderly development and future growth of the Association as defined by its mission and objectives and as set out in the Forward Look strategic programme;

2.

To provide funds to enable the Association to continue to meet its scientific aims and objectives through its publications, conferences and the work of its commissions;

3.

To provide funds to enable the Association to continue its work related to the promotion of sound groundwater management throughout the world;

4.

To provide funds to support the Association's work in developing countries.

Each year the Association's Executive approves a plan of activity and budget to address these objectives. This involves the release of funds from general funds to enable the plan to be delivered.

Further details on designated and restricted funds are provided in the notes to the financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its Memorandum, Articles of Association and Rules, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 1985. Changes to the Rules of the Association were approved by Council at its meeting in Rome in September 2015 and at an online meeting in October 2022.

Recruitment and appointment of new trustees

The Council of the Association is elected by ballot of the membership of the Association every four years, the period of office running from the annual meeting at which the election takes place until the annual meeting in the fourth following year. The current Council was elected on 10 September 2024 and will serve until a new Council will be elected during 2028.

Organisational structure

All members, individual or corporate, are members of the international body. However, the Association encourages the formation of national or regional committees in order to carry out local administration, promote contacts and co-operation and undertake relevant studies of local or regional interest. National committees may be organised in a number of different ways according to national practice and circumstance.

The Council of the Association determines the general policy of IAH.

Remuneration of Key Management Personnel

In determining appropriate levels of remuneration for staff, the Association aims to provide overall packages of terms and conditions that are affordable, competitive and will help to attract, retain and motivate high quality individuals capable of achieving the Society's objectives. The Association wishes to ensure that staff are fairly rewarded for their individual and collective responsibilities and contributions to the Association's overall performance. Remuneration packages are the responsibility of the IAH Executive, which takes into account data on general inflation and wage inflation, as well as performance considerations when making its determinations. Key management remuneration for 2024 was £29,977 (2023 - £28,442).

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03956233 (England and Wales)

Registered Charity number

1083019

Registered office

35 Cardinal Close

Caversham

Reading

RG4 8BZ

Trustees

Name

Term during year to 31 December 2024

David Kreamer

Resigned (10 September 2024)

Marco Petitta

Continuous

Teodóra Szocs

Continuous

Jane Dottridge

Continuous

Philip Chilton

Continuous

Nicholas Robins

Continuous

Julian Conrad

Appointed 10 September 2024

Company Secretary

I R Davey

Independent Examiner

Locke Williams Associates LLP

Chartered Accountants

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

Solicitors

Robbins Olivery

Southern House

Woking

GU22 7UY

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 17 September 2025 and signed on its behalf by:

I R Davey - Secretary

Independent examiner's report to the trustees of International Association of Hydrogeologists ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

David Williams FCA FCCA

Locke Williams Associates LLP

Chartered Accountants

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

19 September 2025

31.12.24

31.12.23

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

7,201

190

7,391

5,540

Charitable activities

Members services

311,859

-

311,859

313,624

Total

319,060

190

319,250

319,164

EXPENDITURE ON

Charitable activities

Members services

319,052

2,864

321,916

324,575

Net gains/(losses) on investments

(7,337

)

(37

)

(7,374

)

(5,231

)

NET INCOME/(EXPENDITURE)

(7,329

)

(2,711

)

(10,040

)

(10,642

)

Transfers between funds

11

(2,864

)

2,864

-

-

Net movement in funds

(10,193

)

153

(10,040

)

(10,642

)

RECONCILIATION OF FUNDS

Total funds brought forward

229,358

32,302

261,660

272,302

TOTAL FUNDS CARRIED FORWARD

219,165

32,455

251,620

261,660

31.12.24

31.12.23

Notes

£

£

FIXED ASSETS

Tangible assets

6

1,531

1,624

Investments

7

1

1

1,532

1,625

CURRENT ASSETS

Debtors

8

51,697

102,985

Cash at bank and in hand

288,896

191,100

340,593

294,085

CREDITORS

Amounts falling due within one year

9

(90,505

)

(34,050

)

NET CURRENT ASSETS

250,088

260,035

TOTAL ASSETS LESS CURRENT LIABILITIES

251,620

261,660

NET ASSETS

251,620

261,660

FUNDS

11

Unrestricted funds

219,165

229,358

Restricted funds

32,455

32,302

TOTAL FUNDS

251,620

261,660

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 17 September 2025 and were signed on its behalf by:

T Szocs - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Membership fees are recognised when receivable and the amount can be measured reliably by the charity.

Royalties and income from the exploitation of intellectual property rights are recognised when receivable in accordance with the substance of the relevant agreement.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing.

Donated memberships and donated travel costs are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

No amount is included in the financial statements for volunteer time in line with the Charities SORP.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Association and include the independent examination and an allocation of staff costs attributable to time spent in managing the charity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure

Taxation

The charity is registered with the Charity Commission and under the provisions of Section 478 Corporation Tax Act 2010, is exempt from liability to taxation on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. The table below shows the balances held in the various currencies at the year end and the exchange rates prevailing.

Currency

Balances on 31.12.24

Rate of exchange with sterling on 31.12.24

US Dollars

$-

$1.252

Euro

€312,417

€1.209

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

2.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Depreciation - owned assets

873

831

Accountancy and Independent Examination fee

1,950

1,720

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

4.	STAFF COSTS

31.12.24

31.12.23

£

£

Wages and salaries

91,013

85,701

Social security costs

2,346

1,564

Other pension costs

3,483

3,421

96,842

90,686

The average monthly number of employees during the year was as follows:

31.12.24

31.12.23

Part time

5

5

No employees received emoluments in excess of £60,000.

In accordance with UK legislation related to pension auto-enrolment for small companies, all four of the Association's employees are placed in an appropriate pension scheme.

The total amount of employee benefits (including employers pension contributions) received by key management personnel is £29,977 (2023 - £28,442).

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

5,360

180

5,540

Charitable activities

Members services

313,624

-

313,624

Total

318,984

180

319,164

EXPENDITURE ON

Charitable activities

Members services

315,845

8,730

324,575

Net gains/(losses) on investments

(5,231

)

-

(5,231

)

NET INCOME/(EXPENDITURE)

(2,092

)

(8,550

)

(10,642

)

Transfers between funds

(8,550

)

8,550

-

Net movement in funds

(10,642

)

-

(10,642

)

RECONCILIATION OF FUNDS

Total funds brought forward

240,000

32,302

272,302

TOTAL FUNDS CARRIED FORWARD

229,358

32,302

261,660

6.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

13,613

Additions

780

At 31 December 2024

14,393

DEPRECIATION

At 1 January 2024

11,989

Charge for year

873

At 31 December 2024

12,862

NET BOOK VALUE

At 31 December 2024

1,531

At 31 December 2023

1,624

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 January 2024 and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

World-wide Groundwater Limited

Registered office: United Kingdom

Nature of business: Consultancy (non-trading)

%

Class of share:

holding

Ordinary

100

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

48,714

83,249

Other debtors

-

17,956

Prepayments and accrued income

2,983

1,780

51,697

102,985

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

59,254

3,788

Other creditors

459

-

Accruals and deferred income

30,792

30,262

90,505

34,050

Deferred Income

31.12.23

31.12.23

£

£

Balance as at 1 January

27,762

19,817

Released in the year

(27,762

)

(19,817

)

Deferrals in the year

26,881

27,762

Balance as at 31 December

26,881

27,762

Income under contractual arrangements is deferred where it is subject to the performance of certain terms or conditions. Where these have not been met at the balance sheet date, the income is not recognised in the statement of financial activities. Deferred income above represents membership fees received in advance of next year.

10.	ANALYSIS OF NET ASSETS BETWEEN FUNDS

31.12.24

31.12.23

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

£

£

£

£

Fixed assets

1,531

-

1,531

1,624

Investments

1

-

1

1

Current assets

308,138

32,455

340,593

294,085

Current liabilities

(90,505

)

-

(90,505

)

(34,050

)

219,165

32,455

251,620

261,660

11.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.1.24

in funds

funds

31.12.24

£

£

£

£

Unrestricted funds

General fund

200,993

5,001

(15,194

)

190,800

Sponsored Membership Fund

-

(5,256

)

5,256

-

Education and Development Fund

15,000

(7,074

)

7,074

15,000

Asia Fund

13,365

-

-

13,365

229,358

(7,329

)

(2,864

)

219,165

Restricted funds

Burdon Fund

32,302

(2,711

)

2,864

32,455

TOTAL FUNDS

261,660

(10,040

)

-

251,620

Net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

318,758

(306,409

)

(7,348

)

5,001

Sponsored Membership Fund

-

(5,256

)

-

(5,256

)

Education and Development Fund

302

(7,387

)

11

(7,074

)

319,060

(319,052

)

(7,337

)

(7,329

)

Restricted funds

Burdon Fund

190

(2,864

)

(37

)

(2,711

)

TOTAL FUNDS

319,250

(321,916

)

(7,374

)

(10,040

)

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.1.23

in funds

funds

31.12.23

£

£

£

£

Unrestricted funds

General fund

211,927

12,599

(23,533

)

200,993

Sponsored Membership Fund

-

(5,832

)

5,832

-

Education and Development Fund

14,708

(8,859

)

9,151

15,000

Asia Fund

13,365

-

-

13,365

240,000

(2,092

)

(8,550

)

229,358

Restricted funds

Burdon Fund

32,302

(8,550

)

8,550

32,302

TOTAL FUNDS

272,302

(10,642

)

-

261,660

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

318,629

(300,799

)

(5,231

)

12,599

Sponsored Membership Fund

-

(5,832

)

-

(5,832

)

Education and Development Fund

355

(9,214

)

-

(8,859

)

318,984

(315,845

)

(5,231

)

(2,092

)

Restricted funds

Burdon Fund

180

(8,730

)

-

(8,550

)

TOTAL FUNDS

319,164

(324,575

)

(5,231

)

(10,642

)