Gibson Library Society - Accounts 2021


Gibson Library Society
Income & Expenditure 1 April 2020 to 31 March 2021


0
2020 - 2021     2019 - 2020
Income
£
Expense
£
Income
£
Expense
£
Memberships
Donations general
Gibson Walden Fund
Gift Aid Refund
Postcard sales
Photography licences
Visit Income
Essex Locality Fund Grant (Note 4)
New History of Library (Note 4)
Covid screens(Note 4)
Zoom fees (Note 4)
Website
Speakers
Secondhand laptop
Dehumidifier
Rebranding costs
Rebindings (Note 1)
Christmas events
Other events
Subscription to ILA
Secretarial
Sundry
Insurance
Sign restoration
Interest
1,067
442
500
337
2
0
0
1,000
















249








500
446
179
144
165
0
0
0
500
0
0
0
7
0
101
0
1,188
583
500
293
27
150
32
0













340








0
0
0
173
312
100
20
2,419
500
22
139
60
112
17
101
198
Totals

Expenses
3,598

-2,042
2,042 3,112

-4,173
4,173

Surplus / (Deficit)

£1,556

£-1,062



Gibson Library Society
Assets as at 31 March 2021


01/04/20
Opening
31/03/21
Closing

Change
Barclays Account
Saffron Deposit
Saffron Collins
Accrued Rebindings (Note 2)
Essex CIF (Notes 3 & 5)
Essex Heritage Trust (Notes 3 & 6)
5,079
11,910
7,832
-500
0
0
10,695
12,065
7,931
-1,000
-810
-3,000
5,617
151
99
-500
-810
-3,000

Totals

£24,325

£25,881

£1,556



Notes

1. This year's Rebindings cost charged this year.
2. This year's and last year's Rebinding costs not yet paid.
3. Grants received, but not yet used at all
4. Grant from Essex Locality Fund 1000
            1st payment re new History -500
        Covid screens in Gibson room -446
                        Zoom cost for 2021 -136, (there was also £43 for 2020)
Net cost for Gibson Library Society -82
5. Essex Community Initiative Fund: Signage for Gibson Library in the Public Library
6. Essex Heritage Trust: Research, drafting and printing of new History of the Library book



Treasurer's Commentary

Our Membership Income was down about 10% this year, attributable to the absence of face to face meetings and talks, resulting in far lower cash and cheque payments. The Gift Aid Refund received was higher this year as there is a one year lag between the Subscription income and the Gift Aid Reclaim.

We continue to allocate the £500 we receive from the Gibson Walden Fund towards rebinding. This year the work has been carried out by the Essex Record Office, and they will be paid in the 2021/2022 year; the accrual for the 2019/2020 rebinding has not yet been paid to ECC pending the sorting out of the Library Trust Fund of which the ECC is Trustee.

General expenditure was lower this year, particularly as the high rebranding costs in 2019/2020 (£2,419) was not repeated this year, and the large change from a £1,062 deficit last year to a £1,556 surplus this year is largely because of this.

The major financial change this year has been the successful bidding for three grants, the first of which has been spent on Covid screens in the Gibson Reading Room, a year's subscription to Zoom for online meetings and the down payment on the writing on an updated History of the Library. The remaining two grants will be spent in 2021/2022, and hence appear as Accruals on this year's balance sheet.

I believe that the financial results of the year show the Society to be in a healthy state, and do not require any increase in Subscription rates.

Finally, I'd like to thank John Oswin Smith for again fulfilling the duties of Independent Examiner of the Annual Accounts.

Peter Walker
GLS Treasurer
6 May 2021



Independent Examiner's Statement

Thursday 6th May 2021

I have examined the accounts of the Gibson Library Society for the year ended 31st March 2021, and confirm that they are in accordance with the accouting records handed to me.

John Oswin Smith
Independent Examiner



Return to the AGM 2021 page.




© Gibson Library Society, 2021