DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
Registered number: 04453016 Charity number: 1100273
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 22 |
DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | Prof. Michael Reiss, President (resigned 4 September 2023) |
|---|---|
| Prof. Simon Dein | |
| Prof. Philip Clayton (resigned 7 September 2022) | |
| Prof. Celia Deane-Drummond (resigned 4 September 2023) | |
| Dr. Russell Re Manning (resigned 4 September 2023) | |
| Prof. Nancy Howell | |
| Dr. Ignacio Alberto Silva | |
| Dr. Mehrunisha Suleman (resigned 4 September 2023) | |
| Prof. Ronald Stephen Cole-Turner | |
| Prof. Edward John Larson | |
| Dr. Marius Dorobantu (appointed 7 September 2022) | |
| Prof. Jeffrey Schloss (appointed 7 September 2022) | |
| Prof. Niels Gregersen, President (appointed 4 September 2023) | |
| Prof. Berry Billingsley (appointed 4 September 2023) | |
| Dr. Shoaib Malik (appointed 4 September 2023) | |
| Company registered number 04453016 Charity registered number 1100273 Registered office Salisbury House Station Road Cambridge CB1 2LA Company secretary Prof Fraser Watts Executive assistant Mr Anthony Nairn Independent Examiner Peters Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA Bankers C Hoare & Co 37 Fleet Street London EC4P 4DQ Solicitors Dechert LLP 2 Serjeants' Inn London EC4Y 1LT |
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (second edition of the Charities SORP (FRS102) October 2019, effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
OBJECTIVES AND ACTIVITIES
The International Society for Science & Religion (ISSR) established in 2002 for the purpose of the promotion of education through the support of inter-disciplinary learning and research in the fields of science and religion conducted where possible in an international and multi-faith context.
ACHIEVEMENTS AND PERFORMANCE
REVIEW OF ACTIVITIES
ISSR continued its role as convenor of the annual Boyle Lecture on Science and Religion. With the end of COVID restriction, the lecture was once again held in St Mary-le-Bow in 2022, though at a later time of year than usual. Professor Christopher Southgate of the University of Exeter lectured on “God and a World of Natural Evil: Theology and Science in Hard Conversation”, with a response from Dr Andrew Davison of the University of Cambridge.
The ISSR Book Prize was awarded for the third time in 2022, and prizes were given to Shoaib Ahmed Malik for Islam and Evolution: Al-Ghazali and the Modern Evolutionary Paradigm ; John Lardas Modern for Neuromatic, or A Particular History of Religion and the Brain ; and Calvin Mercer and Tracy Trothen for Religion and the Technological Future: An Introduction to Biohacking, Artificial Intelligence and Transhumanism. ISSR has been posting discussions with the prize-winning authors since 2021, and continued to do so for 2022.
ISSR continued its work on the project on Understanding Spiritual Intelligence: Psychological, Theological and Computational Approaches , funded by the Templeton World Charity Foundation as part of their Diverse Intelligences initiative; and the ISSR Latin American Libraries project, funded by the John Templeton Foundation.
In January 2022, ISSR posted on its YouTube channel the first of a new series titled “In Conversation”, with Michael Reiss and Michael Ruse talking about the distinguished sociobiologist, E O Wilson. The YouTube channel now carries regular conversations, and is also used to disseminate the Boyle Lectures, and the discussions arising from them. An encouragingly large number of people watch the YouTube channel, or listen to the related Podcasts. Each month, ISSR continues to circulate a monthly newsletter to members, and also posts a blog on a topic in science and religion. ISSR also has begun using its YouTube channel as a way of hosting and sharing online events with the public.
ISSR joined with ESSSAT (European Society for the Study of Science and Theology) in 2022 to launch a new Journal, Reviews in Science, Religion and Theology, edited by Lluis Oviedo, that is distributed quarterly to members of both organisations.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
The 2022 AGM decided to develop a mission statement and a strategic plan. Nominations for Fellowship of the Society were received, of whom twenty-eight (28) were invited to become Fellows of ISSR.
PUBLIC BENEFIT
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. The Society exists to support the charitable provision of education and research. The activities reported under the heading of "Review of Activities" were all designed to be beneficial both to the academic community and the general public. In the exercise of our powers we have paid due regard to the published guidance from the Charity Commission on the Public Benefit requirement under the Charities Act 2011.
RESULTS FOR THE YEAR
This year there was income of £230,192 (2021: £179,739), which consisted of restricted grant income of £211,158 (2021: £160,818), subscription income of £18,534, (2021: £18,421) and other unrestricted income of £500 (2021: £500). Expenditure amounted to £246,049 (2021: £264,783) of which £206,653 (2021: £261,242) was restricted project expenditure, on projects in progress during the year. At the year end closing funds were held for restricted projects of £54,157 (2021: £79,181) and unrestricted activities of £167,900 (2021: £158,733).
RESERVES POLICY
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level at least equivalent to two years worth of unrestricted expenditure, which would equate to approximately £70,000 - £100,000. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves will also allow the Trustees freedom to properly investigate potential new projects, which have to be funded from unrestricted reserves. The Charity had unrestricted funds totaling £167,900 (2021: £158,733) as at the year end, which is above the minimum required level. Given the current economic situation the Trustees are happy that a reasonable level of reserves has been maintained throughout the year and the excess provides a cushion against any unexpected reduction in funding.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE, AND MANAGEMENT
CONSTITUTION
The company is registered as a charitable company limited by guarantee constituted under a Memorandum of Association dated 31 May 2002 and is a registered charity number 1100273.
The principal objects of the company are the promotion of education through the support of inter-disciplinary earning and research in the fields of science and religion conducted where possible in an international and multifaith context.
METHODS OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trustees have delegated the day-to-day responsibility of running the charity to the Company Secretary and Executive Assistant.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
Relevant documents are sent to Trustees and correspondence with the Executive Secretary follows, in order to follow up queries in relation to any item.
FUTURE ACTIVITIES AND GOING CONCERN
Lord Rowan Williams, theologian and former Archbishop of Canterbury, gave the 2023 Boyle Lecture on Attending to Attention , with a response from Dr. John D Teasdale, author of What Happens in Mindfulness .
ISSR held a conference in June 2023, in Swindon UK, on Artificial and Spiritual Intelligence, related to its ongoing project on Understanding Spiritual Intelligence, which ends in July 2023.
The on-going Latin American Libraries Project will continue, and will complete in October 2023.
ISSR expects to receive a subgrant from the University of Coventry relating to a project, From the Heart: Testing the Efficacy of Heart-Centered Contemplation, funded by TWCF.
Plans are in hand for ISSR sessions at the AAR meeting in November 2023. Blogs on science and religion will continue to be posted each month, and the “In Conversation” series will continue to be recorded and posted on YouTube.
Following the 2022 AGM, steps will be taken to develop a mission statement and strategic plan. A further set of nominations for Fellowship of ISSR has been received and is under review.
The Trustees of Cambridge Institute for Applied Psychology and Religion (CIAPR) have reviewed the future of the charity and decided that they wish to wind it up and transfer the remaining resources to a restricted fund in ISSR. The objects of the two charities are closely related. The ISSR executive committee have agreed to this. The transferred funds of CIAPR will be maintained in a restricted fund, until they have been fully expended in line with the purposes of the fund. The value of the transfer is expected to be approximately £10,500.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Prof. Michael Reiss, President Trustee
Date: 20 September 2023
Prof. Niels Gregersen Trustee
27 September 2023
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (the 'company')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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:
-
the accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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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
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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.
Signed: Dated: Nikki Loan FCA
For and on behalf of Peters Elworthy & Moore Chartered Accountants Cambridge
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
| Note INCOME FROM: Donations and legacies 2 Charitable activities 3 TOTAL INCOME EXPENDITURE ON: Charitable activities 4 TOTAL EXPENDITURE NET (EXPENDITURE)/INCOME Transfers between funds 11 Net (expenditure)/income RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds 2022 £ 500 18,534 19,034 39,396 39,396 (20,362) 29,529 9,167 158,733 9,167 167,900 |
Restricted funds 2022 £ - 211,158 211,158 206,653 206,653 4,505 (29,529) (25,024) 79,181 (25,024) 54,157 |
Total funds 2022 £ 500 229,692 230,192 246,049 246,049 (15,857) - (15,857) 237,914 (15,857) 222,057 |
Total funds 2021 £ 500 179,239 |
|---|---|---|---|---|
| 179,739 264,783 |
||||
| 264,783 (85,044) - |
||||
| (85,044) 322,958 (85,044) |
||||
| 237,914 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 22 form part of these financial statements.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee) REGISTERED NUMBER: 04453016
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: amounts falling due after more than one year 10 TOTAL NET ASSETS CHARITY FUNDS Restricted funds 11 Unrestricted funds 11 TOTAL FUNDS |
1,277 411,174 412,451 (192,592) |
2022 £ 2,198 2,198 219,859 222,057 - 222,057 54,157 167,900 222,057 |
2,058 421,486 423,544 (133,348) |
2021 £ - |
|---|---|---|---|---|
| - 290,196 |
||||
| 290,196 (52,282) |
||||
| 237,914 79,181 158,733 |
||||
| 237,914 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee) REGISTERED NUMBER: 04453016
BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Prof. Michael Reiss Trustee
Prof. Niels Gregersen
Trustee
Date: 20 September 2023 27 September 2023
The notes on pages 10 to 22 form part of these financial statements.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements 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) (second edition of the Charities SORP (FRS102) October 2019, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The International Society for Science & Religion meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
There were no significant estimates or judgements made by management in preparing these financial statements other than those set out in the accounting policies below.
1.2 COMPANY STATUS
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
1.3 GOING CONCERN
The Trustees have reviewed the financial position of the charity and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.
1.4 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES (CONTINUED)
1.5 INCOME
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfillment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Grant income covering multiple periods, which is to be paid on the basis of agreed annual budgets, is not recognised until the appropriate period has arisen because the company is not entitled to the income until that date.
Subscription income is recognised in the period it is received.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
1.6 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Governance costs comprise of all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.7 FOREIGN CURRENCIES
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the average rate of exchange for the year.
Exchange gains and losses are recognised in the Statement of Financial Activities.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES (CONTINUED)
1.8 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Computer equipment - 25%
1.9 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.12 FINANCIAL INSTRUMENTS
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.13 PENSIONS
The Charity operated a defined contribution pension scheme and the pension charge in the prior year represented the amounts payable by the Charity to the fund in respect of the year.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. INCOME FROM DONATIONS AND GRANTS
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Donations | 500 | 500 | 500 |
All grant income in 2022 and 2021 was restricted.
Donation income relates to contributions used for the Boyle Lectures.
3. INCOME FROM CHARITABLE ACTIVITIES
| Grants Subscriptions TOTAL 2022 |
Unrestricted funds 2022 £ - 18,534 18,534 |
Restricted funds 2022 £ 211,158 - 211,158 |
Total funds 2022 £ 211,158 18,534 229,692 |
Total funds 2021 £ 160,818 18,421 |
|---|---|---|---|---|
| 179,239 |
All grant income in 2022 and 2021 was restricted.
All subscription income in 2022 and 2021 was unrestricted.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | Total | |
| directly | costs | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Charitable activities | 207,689 | 38,360 | 246,049 | 264,783 |
In 2022, £206,653 (2021: £229,908) of expenditure was restricted and £39,396 (2021: £34,875) was unrestricted expenditure.
ANALYSIS OF DIRECT COSTS
| Latin American Libraries consultancy Latin American Libraries research Latin American Libraries sundry costs Travel for conferences Boyle Lecture costs Annual Book Prize donations, equipment, and books Event costs Foreign exchange gain Spiritual Intelligence project administration costs Spiritual Intelligence professional costs Spiritual Intelligence staff costs Spiritual Intelligence equipment, IT, and software Spiritual Intelligence consultancy Spiritual Intelligence sundry costs TOTAL 2022 |
Total funds 2022 £ 21,060 17,854 6,756 3,109 525 9,784 - (1,324) - 48,101 - 3,678 95,915 2,231 207,689 |
Total funds 2021 £ - - - - - 4,088 814 (96) 8,869 48,641 40,568 11,920 113,216 1,888 |
|---|---|---|
| 229,908 |
In 2022, £205,379 of direct costs were spent from restricted funds (2021: £229,908), with £2,310 being spent from unrestricted funds (2021: £Nil).
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF SUPPORT COSTS
| Independent Examiner's fees (governance) Office expenses Bank charges Executive Assistant cost Executive Secretary cost IT costs Depreciation TOTAL 2022 |
Total funds 2022 £ 4,625 113 2,003 17,600 12,000 1,972 47 38,360 |
Total funds 2021 £ 3,741 70 1,694 15,760 12,000 1,610 - |
|---|---|---|
| 34,875 |
In 2022, £1,274 of support costs were spent from restricted funds (2021: £31,134), with £37,086 being spent from unrestricted funds (2021: £3,741).
5. INDEPENDENT EXAMINER'S REMUNERATION
The independent examiner's remuneration amounts to an independent examiner fee of £2,970 (2021 - £2,700), and accountancy fees of £1,655 (2021 - £1,041).
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. STAFF COSTS, KEY MANAGEMENT PERSONNEL, TRUSTEES' REMUNERATION AND EXPENSES
| Wages and Salaries Social security costs Other pension costs |
2022 £ - - - - |
2021 £ 36,000 3,750 818 |
|---|---|---|
| 40,568 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Research Associate | - | 1 |
The charity had no employees during the year. No employee received remuneration amounting to more than £60,000 in the prior year.
The charity uses independent contractors to support project delivery and management.
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trustees have delegated the day-to-day responsibility of running the charity to the Company Secretary and Executive Assistant, who are considered to be the key management personnel of the charity. The costs payable to key management personnel in the year are attributed to both restricted and unrestricted funds and total £66,810.
The Trustees all give their time and expertise without any form of remuneration or other benefit kind (2021: £NIL).
During the year, 5 Trustees were reimbursed a total of £5,750 in respect of expenses incurred on the charity's behalf (2021: £NIL), of which £1,538 was outstanding at the year end to be reimbursed.
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
7. TANGIBLE FIXED ASSETS
| COST OR VALUATION Additions At 31 December 2022 DEPRECIATION Charge for the year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 DEBTORS DUE WITHIN ONE YEAR Trade debtors Other debtors Deposit for Spiritual Intelligence event |
2022 £ 102 175 1,000 1,277 |
Computer equipment £ 2,245 |
|---|---|---|
| 2,245 | ||
| 47 | ||
| 47 | ||
| 2,198 | ||
| - | ||
| 2021 £ 2,058 - - |
||
| 2,058 |
8. DEBTORS
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors Accruals and deferred income Deferred income at 1 January 2022 Deferred income in the year Amounts released from previous periods |
2022 £ - 192,592 192,592 2022 £ 169,200 129,493 (116,918) 181,775 |
2021 £ 992 132,356 |
|---|---|---|
| 133,348 | ||
| 2021 £ 500 169,200 (500) |
||
| 169,200 |
The resources deferred at 1 January 2023 relate to income received in 2021 and 2022 for two long term projects, to be spent in 2023. These projects are set out in restricted reserves.
10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | - | 52,282 |
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| UNRESTRICTED FUNDS General Funds RESTRICTED FUNDS Latin American Libraries Book Prize Spiritual Intelligence TOTAL OF FUNDS |
Balance at 1 January 2022 £ 158,733 15,240 63,941 - 79,181 237,914 |
Income £ 19,034 38,745 - 172,413 211,158 230,192 |
Expenditure £ (39,396) (46,944) (9,784) (149,925) (206,653) (246,049) |
Transfers in/out £ 29,529 (7,041) - (22,488) (29,529) - |
Balance at 31 December 2022 £ 167,900 |
|---|---|---|---|---|---|
| - 54,157 - |
|||||
| 54,157 | |||||
| 222,057 |
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
| UNRESTRICTED FUNDS DESIGNATED FUNDS Designated Funds - all funds GENERAL FUNDS General Funds TOTAL UNRESTRICTED FUNDS RESTRICTED FUNDS Latin American Libraries Book Prize Spiritual Intelligence TOTAL OF FUNDS |
Balance at 1 January 2021 £ 25,000 118,353 143,353 - 68,029 111,576 179,605 322,958 |
Income £ - 18,921 18,921 15,240 - 145,578 160,818 179,739 |
Expenditure £ - (3,541) (3,541) - (4,088) (257,154) (261,242) (264,783) |
Transfers in/out £ (25,000) 25,000 - - - - - - |
Balance at 31 December 2021 £ - |
|---|---|---|---|---|---|
| 158,733 | |||||
| 158,733 | |||||
| 15,240 63,941 - |
|||||
| 79,181 | |||||
| 237,914 |
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
11. STATEMENT OF FUNDS (CONTINUED)
The Book Prize fund is a donation from the Templeton World Charity Foundation. The prizes are to be awarded over the period to 2024 at the discretion of the Trustees.
The Templeton World Charity Foundation awarded a grant to the charity for a project entitled "Understanding Spiritual Intelligence: Psychological, Theological and Computational Approaches" which aims to use Artificial Intelligence to advance the scientific understanding of spiritual intelligence. The project activities include books, journal articles, a computer program, hosting of workshops and a conference. The total grant awarded was £745,755 and is due for completion in July 2023.
The John Templeton Foundation awarded a grant to the charity entitled "Latin American Libraries". which aims to offer recently published key works including translations and monographs in Spanish and Portuguese at the intersection of science, philosophy, and theology to Lain American Higher Education Institutions, as well as funding opportunities for early career scholars at these institutions to make use of these volumes for their ongoing research. The project activities include offering up-to 60 collections of scholarly resources which will enhance research and teaching in science and religion in the Latin American region. The total grant awarded was £118,095. The project is also due to be completed by the end of 2023.
The transfer between restricted and unrestricted funds reflects the amounts identified in the grants as available to support administration costs.
The Project Fund was a designated fund set up by the Trustees to fund research on new projects. The Trustees decided in the prior year that this fund was not currently required and therefore it was transferred to general funds.
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
| Tangible fixed assets Current assets Creditors due within one year TOTAL |
Unrestricted funds 2022 £ 2,198 168,886 (3,184) 167,900 |
Restricted funds 2022 £ - 243,565 (189,408) 54,157 |
Total funds 2022 £ 2,198 412,451 (192,592) |
|---|---|---|---|
| 222,057 |
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DocuSign Envelope ID: CB4B5C0F-06F1-4311-B9D9-1FC120530507
THE INTERNATIONAL SOCIETY FOR SCIENCE & RELIGION (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
| Current assets Creditors due within one year Creditors due in more than one year TOTAL |
Unrestricted funds 2021 £ 175,163 (16,430) - 158,733 |
Restricted funds 2021 £ 248,381 (116,918) (52,282) 79,181 |
Total funds 2021 £ 423,544 (133,348) (52,282) |
|---|---|---|---|
| 237,914 |
13. RELATED PARTY TRANSACTIONS
During the year there were no related party transactions (2021 - NIL) other than the transactions disclosed in note 5. One of the trustees is paid for his services on one of the projects. This arrangement is approved by the trustees and he is not involved in the decisions.
14. POST BALANCE SHEET EVENTS
On 25 January 2023, the trustees of Cambridge Institute of Applied Psychology and Religion (CIAPR) decided to close down the charity and transfer the remaining funds estimated at £10,524 to ISSR. This transfer will be made on the basis that the objects of the two charities are closely related. The Trustees of ISSR have accepted the transfer in principle and are awaiting confirmation of the final balance from CIAPR. The transfer is expanded upon in the Trustees' Report.
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