IAH Annual Report 2023

Finance

Although IAH has income and expenditure in sterling, euro and dollars, owing to the the Association being based in the UK it is required to prepare its formal reports and accounts in sterling. Recognising IAH’s international status, for ease of reference to everyone, we have summarised financial information here in all three currencies.

IAH’s trading activities are carried out through the Association’s subsidiary company World-Wide Groundwater Ltd. There was no activity during 2020. The company is, however, maintained at a small charge in the event of further requirements arising for its use in the future.

IAH’s finances continued to be sound, having carried forward £270K as reserves from the end of 2022. Income for 2023 was anticipated to be in line with expectations set out in the budget, though this could be impacted by fluctuations in exchange rates, particularly between sterling and euros. Council proposed that a further programme of expenditure should be prepared under the strategic plan for the period to 2030 to support our members and to meet our objectives as a charity. It was agreed that IAH’s education and outreach activity should increase.

With lower risks from Covid, the Association’s ‘business as usual’ activities recommenced, resulting in increased expenditure, though all within the agreed budget. There was greater opportunity for IAH’s officers to attend key meetings, and a formally agreed loan of €20K had been provided to the Cape Town Organising Committee to help with up-front costs. Offsetting this, our books publisher had transferred £17K to IAH to rectify a long-standing underpayment of royalties.

Trading activities

These are carried out through the Association’s subsidiary company World-Wide Groundwater Ltd. There was no trading activity during 2023. A bank account is, however, maintained at a small charge in the event of further requirements arising for its use. This was used temporarily to safeguard £95K of IAH’s funds while new banking arrangements were made for the Association.

INTERNATIONAL ASSOCIATION OF HYDROGEOLOGISTS

Statement of Financial Activities for the year ending 31 December 2023

Incoming Resources				£	£	EUR(€)	USD($)

Membership fees					213,486	246,149	262,588
Contract and subvention income					51,562	59,451	63,241
Investment income					0	0	0
Donations					5,540	6,388	6,814
Royalties					42,774	49,318	52,612
Other income					4,802	5,537	5,906
Total resources received					318,164	366,843	391,342


Resources Expended
Member services	Salaries			32709
	Printing and publications			106467
	Hydrogeology Journal Editorial Office			14,082
	Refunds to National Chapters and other grants			19,742
	Website development			0
	Other			13929	186,929	215,529	229,923
Donations and grants payable					10025	11,559	12,331

Support costs	Salaries			35896
	Travel and subsistence			37,458
	Printing, stationery and database administration			16,888
	Other			8573	98,815	113,934	121,542

Management and administration of the charity	Salaries			22081
	Accountancy fee			1,965
	Other			780	24,826	28,624	30,536
Finance costs (bank charges) and depreciation					3,980	4,589	4,895

Total resources expended					324,575	374,235	399,227

Net Income/Expenditure					(6,411)	(7,392)	(7,886)
Net foreign exchange gains/(losses)					(5,231)	(6,031)	(6,434)

Net Incoming resources					(11,642)	(13,423)	(14,320)

Balance brought forward at 1 January 2023					272,302	313,964	334,931

Balance carried forward at 31 December 2023					260,660	300,541	320,612


Balance sheet as at 31 December 2023
		2022	2021	2022	2021	2022	2021
		£	£	EUR(€)	EUR(€)	USD($)	USD($)

Fixed Assets		1,625	563	1,874	649	1,999	692

Current Assets
	Cash and debtors due	294,085	296,148	339,080	341,459	361,725	364,262
Creditors
	Amounts due within one year	(34,050)	(24,409)	(39,260)	(28,144)	(41,882)	(30,023)

Net Assets		261,660	272,302	301,694	313,964	321,842	334,931
Represented by:
	Unrestricted Funds	229,358	240,000	0	276,720	0	295,200
	Burdon Fund	32,302	32,302	0	37,244	0	39,731

Funds		261,660	272,302	301,694	313,964	321,842	334,931

Statement by the Association’s reporting accountant: These summarised accounts are extracted from the full financial statement of the Association which were subject to an unqualified Independent Examination report by Locke Williams Associates LLP, Blackthorn House, St Pauls Square, Birmingham, B3 1RL. The independent examiners have confirmed that the summarised accounts are consistent with the full annual financial statements and the Trustees’ Annual Report of International Association of Hydrogeologists for the year ended 31 December 2023. The annual report and accounts were adopted by the IAH Council on 21 September 2024 and will be submitted to the Charity Commission and the Registrar of Companies.

These summarised accounts may not contain sufficient information to gain a complete understanding of the financial affairs of the Association. For further information, the full accounts, the reporting accountants’ report on those accounts and the trustees’ annual report should be consulted; copies of these can be obtained from the IAH International Office or downloaded from www.iah.org.

Throughout this report the conversion from sterling (£) to Euro (€) is at the rate of €1.153 = £1 and to US Dollar ($) is at the rate of $1.23 = £1.

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