OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

COMPANY REGISTRATION NUMBER: 03897282

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

CHARITY NUMBER 1080250

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

CONTENTS

Pages
Members of the board and professional advisers 2
Report of the Trustees 3 – 5
Statement of Trustees' responsibilities 6
Independent auditors' report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 – 12

Page | 1

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Trustees Mr James Burns (Chairman)
Ms Cristina Alvarez-Campana
Mr Justin Ellis
Mr Roger James Golland
Mr Brian Douglas
Mr Juan Reig Mascarell
Ms Marina Perez de Arcos
Mr Andrew Clark
Dr Mike Short
Dame Mary Elizabeth Marsh
Ms Amy Bell
Ms Anna Swinfield
Mr Michael Morley
Principal Office Basement flat
7 New Quebec Street
Marylebone
London
W1H 7RH
Registered Office 7 New Quebec Street
Marylebone
London
W1H 7RH
Independent examiner Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR
Bankers Santander Bank Plc
Bridle Road
Bootle
Merseyside
L30 4GB

Page | 2

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023. 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 2015).

LEGAL STATUS

The Society obtained charitable status on 7th April 2000 and is registered as Charity No.1080250. It is a company limited by guarantee and without a share capital. The company changed its name to The British- Spanish Society on 24th June 2013.

OBJECTS

The principal objects of the Society are for the benefit of the people of The United Kingdom to advance their education about Spain, its people and cultures, its history and literature, the language, their institutions and folklore, and its economy, in order to promote understanding, knowledge and harmonious relations, and to educate similarly the people of Spain about The United Kingdom.

ACCOUNTS:

The accounts for the year ended 31 December 2023 are set out in the attached financial statements. Funds of £51,000 (2022: £51,000) have been raised from the Principal Supporters for the Grants Fund from which Scholarships amounting to £51,000 (2022: £51,000) have been awarded during the year.

During the year, the charity also expended £12,226 (2022: £9,813) on the production of journals.

EVENTS REVIEW FOR THE YEAR

Summary of Activities

We doubled the number of events being held across the Society in both Britain and Spain hosting cultural events designed to appeal to varied interests. Firm favourites from previous years formed the backbone of our event calendar and new ideas were introduced and enjoyed by our members and their friends.

Our full event calendar for 2023:

Page | 3

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

Members were also invited to attend the launch of Bar Rioja (part of Camino group) and the Everyman Theatre’s premiere of Almodóvar’s Strange Way of Life

The income raised from our events programme, membership subscriptions and corporate supporters enables the society to continue to promote exchanges between the two countries and also support our charitable mission to award scholarships to talented post-graduates.

The 2023 Scholarship Programme

The 2023 Scholarship ceremony took place at the Spanish Embassy in Belgrave Square, London, hosted by Spanish ambassador José Pascual Marco Martinez.

As in previous years we received applications from a large number of exceptional candidates with wide ranging projects. Our winning scholars presented a brief overview of their projects and their anticipated impact, taking questions from Trustee Mike Short. Seven Scholarships totalling £63,000, and supported by BBVA, Fundación Cañada Blanch, Cuatrecasas, Plastic Energy and Santander Universities, were awarded to the winning scholars. We were delighted to welcome back 2022 scholarship winner Rebeca Nuez Suarez who performed a short recital to end the ceremony.

This year’s winning scholars were:

Publication of La Revista

Three editions of our bi-lingual magazine La Revista featured a wide array of original articles on aspects of our mutual cultures. Cover features included interviews with Graham Watts on the career of dancer Tamara Rojo, Dr Joost Joustra curator of the St Francis of Assisi exhibition at the National Gallery, and restauranteurs Nieves Barragán (Sabor) and José Pizarro.

The magazine was again circulated in both digital and hard copy to our members, sponsors and key outlets.

We overcame difficulties with our social media accounts and expanded our email marketing to digitally reach and engage with an increasing number of members, supporters and potential members, sponsors and friends.

Page | 4

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

PUBLIC BENEFIT

The Governors believe they have complied with their duty in Section 4 of the Charities Act 2006 with respect to the Charity Commission’s general guidance on public benefit.

TRUSTEES:

The Trustees of the Society, who served during the year were:

Mr James Burns (Chairman) Ms Cristina Alvarez-Campana Mr Justin Ellis Mr Roger James Golland Mr Brian Douglas Mr Juan Reig Mascarell Ms Marina Perez de Arcos Mr Andrew Clarke Dr Mike Short Dame Mary Elizabeth Marsh Ms Amy Bell

LIABILITY OF MEMBERS:

The liability of members is restricted to £1 each.

RISK MANAGEMENT:

The trustees have examined the major strategic, business, and operational risks that the charity faces and confirm that systems are in place in order to mitigate those risks.

RESERVES POLICY

It is not the policy of the Trustees to accumulate reserves but to maintain unrestricted funds, which are the free reserves of the charity, at a level sufficient to enable the charity to operate effectively and to pursue its principal objectives for the foreseeable future.

SMALL COMPANY PROVISIONS:

This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.

BY ORDER OF THE TRUSTEES

…………………………………… Mr Juan Reig Date: 17[th] April 2024

Page | 5

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023

The charity's trustees (who are also the directors of The British Spanish Society for the purpose of company law) are responsible for preparing the Annual Report and financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.

Page | 6

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

Independent examiner's report to the trustees of The British-Spanish Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year 1 January 2023 to 31 December 2023.

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

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.

Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR

Date: 17[th] April 2024

Page | 7

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Charitable activities
Membership subscriptions
Corporate supporters
Individual donations
Other donations and gift aid
Cultural Events
Merchandising
Grant scheme sponsorship
Advertising revenue
Total
Other Income from:
Interest Income
Total
Expenditure on:
Raising funds
Charitable activities
Total
3
Net income / (expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
9		 1 JANUARY 2023 TO 31 DECEMBER 2023
Unrestricted
Restricted
Total
£
£
£
20,255
-
20,225
14,121
-
14,121
9,271
-
9,271
1,746
-
1,746
44,382
-
44,382
60
-
60
6,000
51,000
57,000
1,050
-
1,050
96,885
51,000
147,885
2,612
-
2,612
2,612
-
2,612
22,829
-
22,829
69,883
51,000
120,883
92,712
51,000
143,712
6,785
-
6,785
-
-
-
6,785
-
6,785
35,025
-
35,025
41,810
-
41,810		 2022
Total
£
16,240
12,467
6,136
2,431
33,309
-
56,987
700
128,269
553
553
17,777
102,367
120,144
8,678
-
8,678
26,347
35,025

Page | 8

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Current assets
Cash at bank and in hand
Other debtors
6
Amounts falling due within one year:
Accruals and deferred income
Current assets
Net assets
Represented by:
General funds
Unrestricted
Restricted
9		 31 December 2023
£
£
54,539
1,075
55,614
(13,804)
(13,804)
41,810
41,810
41,810
-
41,810		 31 December 2022
£
£
42,373
1,396
43,769
(8,744)
(8,744)
35,025
35,025
35,025
-
35,025		 31 December 2022
£
£
42,373
1,396
43,769
(8,744)
(8,744)
35,025
35,025
35,025
-
35,025
55,614 43,769
(13,804) (8,744)
(13,804) (8,744)
35,025
35,025
-
35,025

For the year ending 31/12/2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts

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

Approved by the Board of Trustees on 17[th] April 2024 and signed on its behalf by:

Mr Juan Reig

Company registration number 03897282 Charity number 1080250

Page | 9

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Charity information

The company operates as a charitable company limited by guarantee incorporated in England & Wales (Charity number 1080250, Company number 03897282) and is a Public Benefit Entity operating from 7 New Quebec Street, Marylebone, London W1H 7RH.

2. Accounting Policies

Basis of accounting

The charity relies on donations and voluntary income to carry out its work. Due to the nature of fundraising there can be considerable variation in both the receipt and timing of such income. The trustees have reviewed the level of income received and receivable after the year end and are satisfied that such income will be sufficient to settle current commitments and to enable the charity to continue to carry out its planned program of activities. On this basis it is deemed appropriate to prepare the accounts on a going concern basis.

b) Incoming resources

With the exception of donations, all income is accounted for on an accruals basis.

c) Resources expended

Expenditure on charitable activities includes the direct costs of the activities and depreciation on related assets. Where support costs relate to more than one activity they have been apportioned as appropriate. Expenditure is accounted for on an accruals basis.

d) Restricted funds

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure that meets these criteria is applied to the fund together with a fair allocation of management and support costs where applicable.

e) Unrestricted funds

Unrestricted funds comprise donations and other income received or generated for charitable purposes.

f) Liabilities

All liabilities are recognised in full in the period in which they are incurred.

Page | 10

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3. Total resources expended

Unrestricted
Cultural events
Quarterly journals:
Printing & distribution
Editorial & other expenses
Employment cost
Office rental
Scholarship
Computer & website expenses
Audit & accountancy
Bank charges
Sundry
Restricted
Scholarships and bursaries for 2021/22
Scholarships and bursaries for 2022/23
Total		 31 December 2023
Charitable
Activities
Raising
Funds
Total
£
£
£
18,727
9,363
28,090
10,426
-
10,426
1,800
-
1,800
22,696
11,348
34,044
882
441
1,323
12,000
-
12,000
917
459
1,376
2,003
1,001
3,004
97
48
145
336
168
504
69,884
22,828
92,712
-
-
-
51,000
-
51,000
51,000
-
51,000		 2022
Total
£
17,513
8,613
1,200
28,445
2,400
6,000
1,961
2,730
112
170
69,144
51,000
-
256,000

4. Staff costs

Salaries
Pension costs		 2023
2022
£
£
32,763
27,457
1,281
988
34,044
28,445

No trustee received any remuneration during the year (2022: £Nil).

Page | 11

THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5. Taxation

As a charity the company is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

6. Debtors

ebtors
Other debtors 2023
2022
£
£
1,075
1,396
1,075
1,396

7. Restricted fund

In order to honour and further its principal aim of promoting friendship and understanding between the people of Britain and Spain through knowledge of each other’s customs, institutions, history and way of life, the BritishSpanish Society has had since 2008 the pleasure of awarding Scholarships and Bursaries to Spanish and British post-graduate students conducting research in fields as diverse as medicine, urban planning, engineering, linguistics, literature, physics, architecture, marine archaeology and music. These scholarships are funded by the annual contribution of The Society's principal supporters.

The Society's principal supporters have provided sponsorship amounting to £51,000 during the year, from which scholarships and bursaries amounting to £51,000 in total have been allocated and fully paid during the year.

8. Control

The Charity is a company limited by guarantee and having no share capital. In the event of winding up each member is liable to contribute £1. As a result, no member has control of the company.

9. Net assets by fund

Current assets
Creditors: amounts falling due within one year
Net assets		 Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
55,614
-
55,614
(13,804)
-
(13,804)
41,810
-
41,810

Page | 12