COMPANY REGISTRATION NUMBER: 03897282 THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE) STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITY NUMBER 1080250 •AE7TM5MH• 2910712025 COMPANIES HOUSE A19
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THE BRITISH4PANISH SOCIETY (LIMITED BY GUARANTEE) CONTENTS Pages Members of the board and professional advisers Report of the Trustees Statement of Trustees, responsibilities Independent auditors, report Statement of financial activities Balance sheet Noles to the financial statements 10-12 Page | I
THE BRrrisH4PANISH SOCIETY (LIMITED BY GUARANTEE) MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Trustees Mr James Burns (Chairman to 1211112024) Ms Cristina Alvarez-campana 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 Mr Michael Morley Mr Jose Olivares Paret Mr Jose Ivars Lopez Sir Anthony Cook&Yarborough (Chairman from 1211112024) Prlnclpal Offlce Basement flat 7 New Quebec Street Marylebone London W1H7RH Registered Offlce 7 New Quebec Street Marylebone London W1H 7RH Independent examiner Parker Cavendish Chartered Accountanls Suite 301 Stanmore Business and Innovation Centre Howard Road Stsnrnore Middlesex HA7 1FW Bankers Santander Bank PIC Bridle Road Bootle Merseyside L30 4G8 Page12
THE BRITISH4PANISH SOCIE {LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 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 charitie5 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 charitsble status on 7th April 2000 and is registered as Charity No.1080250. It is a company limited by guarantee and without a share capilal. The company changed its name to The British- Spanish Society on 24th June 2013. OBJECTS The principal objects of the Society are for the benefrt 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 understsnding, knowledge and hamionious relations. and to educate similarly the people of Spain about The United Kingdom. ACCOUNTS: The accounts for the year ended 31 Decernber 2024 are set out in the attached financial ststements. Funds of £43,000 (2023.. £51.000) have been raised from the Principal Supporters for the Grants Fund from which Scholarships amounling to £43,000 (2023: £51.000) have been awarded during the year. In addition to the support provided by the Principal Supporters, The British Spanish Society contributed £11,000 (2023: £12,000) towards Scholarships from its retained funds. During the year, the charity also expended £13.525 {2023: £12,226) on the production of journals. EVENTS REVIEW FOR THE YEAR Summary of Actlvitlg$ We once again increased the number and breadth of cultural and Social events organised by the Society to promote and celebrate the people and cultures of both countries. Bums night supper and ceilidh sponsored by Spanish Palate, El EsCaS Volante, Loch Duart & d'elite and Gravitas drinks (Madrid>. Cava tasting supported by Camino (London) Cheese and wine tasting (London) National Gallery Visit - Architecture in Painting Paco Pefia's Solera at Sadlers Wells (London) Dinner club at Arros QD (London) Whisky Tasting sponsored by Gravitas Drinks, Basque Moonshiners and British Council (Madrid) Surnmer Reception sponsored by The Embassy of Spain, Alimentos de Extremadura. Mahou and Codomiu (London) Ballet Nacional de E5pana at Sadlers Wells (London) Carfos Acosta's Carmen at Sadlers Wells (London) Post Election discussion hosted in collaboration with Fundacion Ortega-maranon (Madrid) . Dinner Club at Broken Eggs (London) Annual Lecture: The challenges facing Spain with William Chislett hosted in collaboration with Instituto Cervantes (London) Pub social (London) Wine Tasting supported by Bar Rioja (London) Autumn Reception supported by The British Embassy (Madrid) Autumn Concert sponsored by The Embassy of Spain. Pérez-Llorca, Codornfu. Mahou and supported by Covap. Hamish Johnston and Broken Eggs {London) Spain Business Diversity sponsored by Zamora Company (Madrid) Christmas Paty sponsored by Hispania. Codomlu and Mahou (London) Page13
THE BRITISH4PANISH SOCIETY (LIMITED BY GUARANTEE) Once again the events programme not only provided social opportunities for members lo meel and share many varied cultural experiences, but also funding to support our charitable mission to support British and Spanish post4Jraduates through our scholarship programme. The 2024 Scholarship Programme The celebration of another successful year of fundraising was Ihe 2024 Scholarship ceremony, again held at the Spanish Embassy in Belgrave Square, London, and hosted by Spanish Ambassador José Pascual Marco Martinez. As in previous years we received applications from a large number of exceptional carKlidates with wide ranging projects. Our winning scholars presented a brief ovenliew of their projects and their anticipated impact. tsking questions frorn Trustee Roger Golland. Seven Scholarships totalling £63,000, and supported by BBVA. Fundacion Cafiada Blanch, Plastic Energy and Santander Universities. We awarded to Ihe winning scholars. We were delighted to welcome winner Lidia Moscosco Bemal and her quintel who p8rfomied for the audience of patrons. trustees. academics. business leaders and members of the Society. This yearfs winning holarS were: Alvaro Doblado Onieva, 'Environmental water detection andlor decontamination of phamiaceuticals. pesticides and heavy metals, Contaminants of Emerging Concern (CEC),. Award presented by Plastic Energy. Elliott Jordan. 'Martial Culture and Military Selvice in Spanish and English Armies, c.1511-1604'. Award presented by Santander Universities. Luke Lanskey. 'A comparative SdY of the role of demographic change on the public finances of the UK and Spain.. Award presented by BBVA. Lldla Moscoso Bemal, 'Accessing Classical Music from a Young Age,. Award presented by Fundacion Cafiada Blanch. Cristina Rodrlguez-osorio Puigdueta, 'Understsnding the developmental programming of stress-regulating neurons.. Award presented by S8ntander Universities. Carmen Villa, 'Public policy and youth development,. Award presented by Britishspanish Society. Publlcatlon of La RevlsL1 The Society bi-lingual magazine La Revista, was again published in print and digitalty with editions in the Spring, Summer and Autumn. Each edition featured contributors from both Britsin and Spain and covered a wlde range of topics of interest. Page14
THE BRITISH-SPANISH SOCIETY {LIMITED BY GUARANTEE) PUBLIC BENEFIT The Governors believe they have complied with Iheir duty in Section 4 of the Charities Acl 2006 with respect to the Charity Cornmission's general guidance on public benefit. TRUSTEES: The Trustees of the Society, who served during the year were.. Mr James Burns (Chairman till 1211112024) Ms Cristina Alvarez-campana Mr Justin Ellis (Resigned) 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 (Resigned) Mr Michael Morley Mr Jose Olivares Paret (Appointed on 1710412024) Mr Jose Ivars Lopez (Appointed on 1710412024) Sir Anthony Cooke-yarborough (Appointed on 1211112024) (Chairman from 1211112024) LIABILITY OF MEMBERS: The liabilty 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 confim that systems are in place in order to mitigate those risks. RESERVES POLICY It is not the policy of the Tnjstees to accumulate reserves but to maintain unrestricted funds. which are the free reseprfes of the charity, at a level sufficient to enable the charity lo 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, reglme under the Cornpanies Act 2006. BY ORDER OF THE TRUSTEES Reig Date.. 191h May 2025 Page | 5
THE BRITISHPANIsH SOCIETY (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The charity's trustees (who a also the directors of The Bribsh Spanish Society for the purpose of company law) are responsible for preparing the Annual Report and financial statements in accordance wilh applicable law and regulation5. Company law requires the Irustees 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 oUrCeS and application of resources, induding the income and expendilure. of the charitable company for that period. In preparing those financial statements, the trustees are required to: a) Select suitable accounting policies and then apply thern consistently: b) Obser¥e the methods and principles in the Charities SORP; c) Make judgements and accounting estimates that are reasonable and prudent; d) State whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements- and e) Prepare the financial statements on the going concem basis unless it is inappropriate to assume that the charity will continue in business. 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 assels of the company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees confim 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. Pagel 6
THE BRITISH4PANISH SOCIErY (LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examiners report to the trustees of The Brltlsh4panish Soclety (Ihe Compan> I report to the charity trustees on my examination of the accounts of the Company for the year 1 January 2024 to 31 December 2024. Responsibilities and basls 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 wilh the requirements of the Companies Act 2006 (Ihe 2006 Act,). Having satisfied myself that the acrA)unts of the Company are not required to be audited under Part 16 of the 2006 Act and are eli9ible for independent examination, I report in spect of my examination of your chaiivs accounts a5 carried out under section 145 of the Charities Act 2011 ('the 2011 Acf). In carrying Out my examination I have followed the Directions given by the Charty Commission under section 145(5) (b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have rne to my attention in connection with the examination giving me cause to believe: Accounting records were not kept in respect of the Company as requlred by seciion 386 of the 2006 Act., or The accounts do not accord with those records; or The accounts do not cornply with the accounting requirements of section 396 of the 2006 Acl 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 The accounts have not been prepared in accordance with the rnelhods 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 mattars in connection wilh the examinatlon to whlch attention should be drawn in Ihis report In order to enable a proper understsnding of the accounts to be reached. Parker Cavendish Chartered Accountants Suite 301 Stanmore Business and Innovation Centre Howard Road Stanmore Middlesex HA7 1FW Date: 19th May 2025 Page17
THE 8RITISH4PANISH SOCIETY (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 I JANUARY 2024 TO 31 DECEMBER 2024 Not• Unrestricted Restrfcted Total 2023 Total Income from: Charitable actiwties Membership subscriptions Corporate supporters Individual donations Other donations and gift aid Cultural Events Merchandising Grant scheme sponsorship Advertising revenue 24,459 10.092 13,343 2,554 53.528 24,459 10.092 13,343 2,554 53.528 20,225 14,121 9,271 1,746 44,382 60 57.000 1,050 4.000 1.450 43.000 47.000 1.450 Total 109.426 43,000 152,426 147,885 Other Income from: Interest Income 2,218 2,218 2.612 Total 2.218 2.218 2,612 Expendlture on: RaSsing funds Charitable actlvitles 27,286 79,097 27,286 122,097 22.829 120,883 43,000 Total 106,383 43.000 149,383 143.712 Net incofflo l (expenditure) 5.261 5,261 6,785 Transfer b•twe•n funds Net movement in funds 5,261 5,261 6,785 Reconciliation of funds Total funds brought forward 41.810 41,810 35,025 Total funds carried forward 47,071 47,071 41,810 Page18
THE BRITISH-SPANISH SOCIETY (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2024 Note 31 December 2024 31 December 2023 Current assets Cash at bank and in hand Other debtors 51,079 575 54.539 1,075 51,654 55,614 Amounts falling due withln one year. Accruals and deferred income (4,583) (13.804) (4,583) (13,804) Current assets 47,071 41,810 Net assets 47.071 41,810 Represented by.. General funds Unrestricted Restricted 47,071 41,810 47.071 41,810 For the year ending 3111212024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not requlred the company to obtain an audit in accordance with section 476 of the Companies Acl 2006. The directors acknowledge their responsibility for complying with the requlrements of the Act with respect to accountlng records and for Ihe preparation of accounts These accounts have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. Approved by the Board of Trustees on 191h May 2025 and signed on its behalf by.. MrJ an Reig Company registration num Charlty number 1080250 er 03897282 Pagel 9
THE 8RITISH4PANISH SOCIETY (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Charity inforniation 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 Pollcles Basis of accountlng a} The financial statements have been prepared on the historical basis of accounting and in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Companies Act 2006, the Charities SORP (FRS 102) and the aGcounting policies set out below. The charity relies on donations and voluntary income to carry out its work. Due to the nature of fundraistng 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) Incomin resources wrth the exception of donatlons. all income is accounted for on an accruals basis. c) Resources ex ended 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 lund together with a fair allocation of management and support costs where applicable. e) Unrestri te funds Unrestricted funds comprise donations and other income received or generated for charitable purposes. Liabilities All liabilities are recognised in full in the period in which they are incurred. Page 110
THE BRITISHPANIsH SOCIETY (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 DECEMBER 2024 3. Total resources expended 31 December 2024 Charitable Raising Actlvilles Funds 2023 Total Total Unrestricted Cultural events Quarterly joumals: Printing & distribution Editorial & other expenses Employment cost Office rental Scholarship Computer & website expenses Audit & accountsncy Bank charges Sundry 22.735 11,368 34.103 28,090 11,725 1.800 27.954 1.014 11.000 538 2,226 70 35 11,725 1,800 41.931 1,522 11,000 807 3.339 105 52 10,426 1,800 34.044 1.323 12.000 1,376 3,004 145 504 13.977 508 269 1.113 35 17 79,097 27.286 106.383 92,712 Restrlcted Scholarships and bursarles for 2023 Scholarshlps and bursarles for 2024 51.000 43,000 43,000 Total 43.000 43,000 51.000 4. Staff costs 2024 2023 Salaries Pension costs 40.451 1.480 32,763 1,281 41.931 34,044 No trustee received any remuneration during the year (2023- £Nil). Page 111
THE BRITISH4PANISH SOCIETY (LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 S. 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 2024 2023 Other debtors 575 1.075 575 1.075 7. Restrlcted fund In order to honour and further its princlpal aim of promoting friendship and understanding between the people of Britain and Spain through knowledge of each otherfs customs, institutions. history and way of life, the Brib'sh- Spanish Society has had since 2008 the pleasure of awarding Scholarships and Bursaries to Spanish and British posl%raduate 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 princlpal supporters have provided sponsorshlp amounting to £43,000 during the year, from whlch scholarships and bursaries amounting to £43,000 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 Unre8trlcted Funds Restrlcted Funds Total Funds Current assets Creditors: amounls falling due within one year 51.654 (4.583) 51,654 (4,583) Net assets 47.071 47,071 Page112