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← The Constitution Society

2025-06-30-accounts

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

Company registration number: 07432769 Charity registration number: 1139515

The Constitution Society

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 June 2025

Forrester Boyd Robson Limited 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 18

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Reference and Administrative Details
Chairman Mr A R Kennon
Trustees Mr A R Kennon
Mr S Payne
Ms C P Salters
Mr T R Hickman
Mr T L A Price
Mr E H M Steedman
Mr C J Monaghan
Mrs S J Walshe
Charity Registration Number 1139515
Company Registration Number 07432769
The charity is incorporated in England.
Registered Office 61 Petty France
London
SW1H 9EU
Independent Examiner Forrester Boyd Robson Limited
26 South Saint Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

Page 1

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and 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 published in October 2019.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Chairman: Mr A R Kennon
Trustees: Mr A R Kennon
Mr S Payne
Ms C P Salters
Mr T R Hickman
Mr T L A Price
Mr E H M Steedman (appointed 5 December 2024)
Mr C J Monaghan (appointed 5 December 2024)
Mrs S J Walshe (appointed 5 December 2024)

Objectives and activities

Objects and aims

The charity's objects, as defined in its Articles of Association, are to advance the education of the public on the subject of the British constitution.

Page 2

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Trustees' Report

Achievements and performance

Overall purpose of the Constitution Society

The Constitution Society is an independent educational foundation which works to promote public understanding of the UK constitution. We monitor constitutional developments and proposals for change, and assess them against core constitutional principles.

Improving the process of constitutional change

The Constitution Society works to inform the public, legislators and academics about the UK’s uncodified constitution as well as to promote nuanced debate about proposals for constitutional change and developments. Set out below are the main examples of how the Society has provided public benefit in the reporting year.

Across the last year the Society published five substantive reports on aspects of the constitution. These were: The United Kingdom Constitution Monitoring Group, The Constitution in Review XI (4 November 2024), The United Kingdom Constitution Monitoring Group, The Constitution in Review II I (29 April 2025), Emily Board, Building Constitutional Literacy in Schools to Empower Future Citizens (22 May 2025), John Springford, The Economic Impact of Brexit, Nine Years on Was the Consensus Right? (23 June 2025), Keegan Shepard Exploring Democratic Accountability and Pathways in the NHS (20 June 2025). The Society also published its second book in association with Haus Publishing: Peter Hennessy and Andrew Blick, Could it Happen Here? (March, 2025).

The Society engaged directly with dozens of schools and educators across England regarding the state of constitutional education in schools and produced resources including posters and lesson plans for teachers across the UK on various constitutional themes. A successful lecture was organised in Speaker’s House in Parliament on the subject of parliamentary procedure alongside an online event on the development of the UK constitution organised with Parliament’s "Learn with the Lords" team which attracted thousands of student participants.

Website

The Society's website garnered hundreds of thousands of views across the year. This was driven in part by many informative pages addressed to the A-Level politics syllabus and in part by weekly blog posts which are, along with its reports and teaching resources, freely accessible to the public. The Society’s blog posts are written by a group of contributing writers from across the UK and over the year dozens of pieces were written, edited and published on a range of different subjects related to the UK’s uncodified constitution.

Support

The last year has seen the Constitution Society continuing to support and host the work of the United Kingdom Constitution Monitoring Group (UKCMG) via finance, editorial and administrative support. The Group, composed of experts and practitioners covering a range of areas of the UK constitution, has published two reports this year. The Constitution Society has also provided financial support to the UK Constitutional Law Association.

Page 3

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Trustees' Report

Compulsory voting

At a meeting on 8 March 2024, the trustees agreed to a proposal from officers for a work programme relating to the merits of introducing compulsory voting for UK general elections (and possibly other levels). This would be done initially by producing a research report and then issuing materials and engaging in activities advocating such a system (i.e. a requirement for people to vote with a system of fixed-penalty notices for those who do not vote without a good reason). This work stream was intendedto promote awareness of the inequalities and other issues with voter turn-out, the effect on elections and public policy, provide a platform for broader education on the constitution and facilitate greater awareness of constitutional issues more generally. It was also considered to be political neutral as it is not a position supported by any of the major political parties.

A research report was commissioned and published in July 2025 and the society then supported the production of a website and the launch of a campaign for compulsory voting. The Society began recruitment for a new research officer to continue the work on this topic.

In August 2025, the Charity Commission wrote to the Trustees raising its concern that advocating compulsory voting was not within the charitable objects of the Society as it involves campaigning for a change in the law and asking for the Trustee’s response. The Trustees immediately suspended activities on this work stream. Whilst explaining to the Charity Commission in correspondence the educational objectives of the work stream, the Trustees decided not to continue with it. In February 2026 the Charity Commission informed the Trustees that the Society must not recommence work on a campaign for compulsory voting and the Trustees have agreed to this position.

Financial review

Rothschild & Co were the Society’s fund managers during the year to 30 June 2025 with a mandate to invest prudently in global equity markets.

The Directors are confident that the Society’s internal resources are sufficient to support its activities at the current level for at leas the next five years.

The charity’s principal sources of funding during the year were from donations and investment income. The new incoming resources of the year amounted to £76,161 (2024- £90,915). The net outgoing resources for the year prior to any revaluation gains were £110,289 (2024- £67,091).

The total funds held at the year end amounted to £2,680,793 (2024- £2,567,615), which were comprised of £340,271 unrestricted general funds and £2,340,522 endowment funds. The endowment fund contains an investment portfolio which generates income to fund the charity’s general activities.

The charity has appropriate funds to cover its day to day running costs for the next year and so faces 2025/26 confident that it can meet demands that will be made on the time and financial resources of the charity by those projects that may arise in the coming year.

Page 4

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Trustees' Report

Policy on reserves

At 30 June 2025 the Society had free reserves of £49,004 (2024 £38,960).

Policy Issues

  1. The donor has agreed that Endowment funds may be converted as necessary to Unrestricted funds, to fund operations at roughly the current level of expenditure.

  2. A Charity Reserves Policy applies only to Unrestricted funds. The Society’s current policy, last reviewed in 2021, is to maintain reserves of £400,000 (calculated as being approximately 3 years’ expenditure at that time).

  3. A reserve calculated on the same basis would now amount to approximately £525,000.

  4. It is likely that the Society will receive donations of approximately £200,000 over the next three years.

Recommendations

Structure, governance and management

Nature of governing document

The Constitution Society is a company limited by guarantee and a registered charity governed by Memorandum and Articles of Association.

Recruitment and appointment of trustees

Trustees are appointed in accordance with the Articles of Association. Vacancies have been advertised publicly and the three appointments made in the reporting year were appointed, following interview, in this way.

All new trustees are provided with induction documents including copies of:

In addition, the trustees are expected to read Charity Commission and other guidance designed to keep them abreast of their duties and responsibilities and to undertake online training for charity trustees.

Public Benefit

The trustees ensure that the activities undertaken are in line with our core purpose, to advance the education of the public on the subject of the British constitution. This is mainly achieved by the publication of all outputs, as referred to on page 3.

Organisational structure

The trustees are responsible for the management of the affairs of the charity and are regarded as trustees under the Charities Act 2011 and directors within the meaning of the Companies Act 2006. The present trustees are listed on page 1. Professor Blick and Dr Govan have job titles as Directors of the Society but are not Directors for the purposes of the Companies Act.

Page 5

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Trustees' Report

Management of risks

The charity acknowledges the Charity Commission’s recommendation to undertake a review of the major risks to which the charity is exposed. In 2024, the trustees adopted a new and comprehensive register of risks, which details those risks to which the charity is exposed. This document is addressed and reviewed at each meeting of the trustees as a standing item. In the reporting year, for example, the trustees agreed to add a new risk relating to conflicts of interest, reduced the risk on trustee diversity and maintained the risk scores for changes in government tax policy and adverse publicity undermining the work of the Society.

Small companies provision statement

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

The annual report was approved by the trustees of the charity on 10 March 2026 and signed on its behalf by:

......................................... 3333F1E80235403... Mr A R Kennon Chairman and trustee

Page 6

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Independent Examiner's Report to the trustees of The Constitution Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.

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 Constitution Society 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.

...................................... BDAEC37F17274BE... Carrie Anne Jensen ACA ICAEW

26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

10 March 2026

Page 7

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Statement of Financial Activities for the Year Ended 30 June 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Charitable activities
3
Other trading activities
4
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Gains/losses on investment assets
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18
Note
Income and Endowments from:
Charitable activities
3
Investment income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Gains/losses on investment assets
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
71,493
4,668
76,161
(186,450)
(186,450)
(166)
(110,455)
(110,455)
450,726
340,271
Unrestricted
funds
£
80,000
10,915
90,915
(158,006)
(158,006)
(3,917)
(71,008)
(71,008)
521,734
450,726		 Endowment
funds
£
-
-
-
-
-
223,633
223,633
223,633
2,116,889
2,340,522
Endowment
funds
£
-
-
-
-
-
133,553
133,553
133,553
1,983,336
2,116,889		 Total
2025
£
71,493
4,668
76,161
(186,450)
(186,450)
223,467
113,178
113,178
2,567,615
2,680,793
Total
2024
£
80,000
10,915
90,915
(158,006)
(158,006)
129,636
62,545
62,545
2,505,070
2,567,615

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 10 to 18 form an integral part of these financial statements. Page 8

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

(Registration number: 07432769) Balance Sheet as at 30 June 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 13 877 1,170
Investments 14 2,630,912 2,527,485
2,631,789 2,528,655
Current assets
Debtors 15 4,025 4,015
Cash at bank and in hand 16 50,524 40,179
54,549 44,194
Creditors: Amounts falling due within one year 17 (5,545) (5,234)
Net current assets 49,004 38,960
Net assets 2,680,793 2,567,615
Funds of the charity:
Endowment funds 2,340,522 2,116,889
Unrestricted income funds
Unrestricted funds 340,271 450,726
Total funds 18 2,680,793 2,567,615

For the financial year ending 30 June 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 18 were approved by the trustees, and authorised for issue on 10 March 2026 and signed on their behalf by:

......................................... 3333F1E80235403...

Mr A R Kennon Chairman and trustee

The notes on pages 10 to 18 form an integral part of these financial statements. Page 9

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 61 Petty France London SW1H 9EU

These financial statements were authorised for issue by the trustees on 10 March 2026.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The Constitution Society 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Where assets and liabilities are donated to the charity, the transferred assets are measured at fair value and recognised in the balance sheet at the point when the risks and rewards of ownership pass to the charity. An equal amount of income is recognised to the net assets received.

Page 10

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The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination fees, strategic management and trustees meetings and reimbursed expenses.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Page 11

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

Asset class

Office Equipment

Depreciation method and rate 25% Reducing Balance

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

3 Income from charitable activities

Donations
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
71,493
71,493
80,000		 Total
funds
£
71,493
71,493
80,000

4 Income from other trading activities

Trading income;
Sales of goods and services
Total for 2025		 Unrestricted
funds
General
£
4,668
4,668		 Total
funds
£
4,668
4,668

Page 12

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

5 Investment income

Total for 2025
Total for 2024
6
Expenditure on charitable activities
Note
Editorial, articles and consultancy
Research fellow contracts
Office costs
Conferences, seminars and entertaining
Donations
Rent, rates, insurance and cleaning
Bank charges
Depreciation
Staff costs
Governance costs
7
Total for 2025
Total for 2024
Note
Editorial, articles and consultancy
Research fellow contracts
Office costs
Conferences, seminars and entertaining
Donations
Rent, rates, insurance and cleaning
Bank charges
Depreciation
Staff costs
Allocated support costs
7
Governance costs
7		 Unrestricted
funds
General
£
-
10,915
Unrestricted
funds
General
£
7,580
13,000
13,557
6,618
1,675
23,720
506
293
117,001
2,500
186,450
158,006
Unrestricted
funds
General
£
10,100
22,000
4,522
1,950
1,600
20,129
382
302
93,260
1,055
2,706
158,006		 Total
funds
£
-
10,915
Total
funds
£
7,580
13,000
13,557
6,618
1,675
23,720
506
293
117,001
2,500
186,450
158,006
Total
2024
£
10,100
22,000
4,522
1,950
1,600
20,129
382
302
93,260
1,055
2,706
158,006

Page 13

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The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

7 Analysis of governance and support costs

Charitable activities expenditure

Charitable activities expenditure
Basis of
allocation
Independent examination fees
A
Basis of
allocation
Independent examination fees
A
Legal and professional fees
A
Advisory fees
A		 Unrestricted
funds
General
£
2,500
Unrestricted
funds
General
£
2,706
774
281
3,761		 Total
2025
£
2,500
Total
2024
£
2,706
774
281
3,761

Basis of allocation

Reference Method of allocation A Allocation is based on actual amounts spent

Governance costs

Independent examiner fees
Examination of the financial statements
Total for 2025
Total for 2024
8
Net incoming/outgoing resources
Net outgoing resources for the year include:
Depreciation of fixed assets		 Unrestricted
funds
General
£
2,500
2,500
2,706
2025
£
293		 Total
funds
£
2,500
2,500
2,706
2024
£
302

Page 14

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2025
£
59,212
(848)
3,882
54,755
117,001		 2024
£
42,250
4,575
1,937
44,498
93,260

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows:

No employee received emoluments of more than £60,000 during the year.
11 Independent examiner's remuneration
Examination of the financial statements		 2025
No
2
2025
£
2,500		 2024
No
1
2024
£
2,706

12 Taxation

The charity is a registered charity and its activities are exempt from taxation.

Page 15

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

13 Tangible fixed assets

Cost
At 1 July 2024
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024
14 Fixed asset investments
Other investments
Other investments
Cost or Valuation
At 1 July 2024
Fair value movements
Disposals
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024		 Office
equipment
£
7,450		 Total
£
7,450
7,450
6,280
293
6,573
877
1,170
2024
£
2,527,485
7,450
6,280
293
6,573
877
1,170
Total
£
2,527,485
223,633
(120,206)
2,630,912
2,630,912
2,527,485

Page 16

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

15 Debtors

15 Debtors
Prepayments
16 Cash and cash equivalents
Cash at bank
17 Creditors: amounts falling due within one year
Other taxation and social security
Accruals
18 Funds
Balance at 1
July 2024
£
Incoming
resources
£
Unrestricted funds
General
450,726
76,161
Endowment funds
Permanent
2,116,889
-
Total funds
2,567,615
76,161
Balance at 1
July 2023
£
Incoming
resources
£
Unrestricted funds
General
521,734
90,915
Endowment funds
Permanent
1,983,336
-
Total funds
2,505,070
90,915		 Resources
expended
£
(186,450)
-
(186,450)
Resources
expended
£
(158,006)
-
(158,006)		 2025
£
4,025
2025
£
50,524
2025
£
3,045
2,500
5,545
Other
recognised
gains/(losses)
£
(166)
223,633
223,467
Other
recognised
gains/(losses)
£
(3,917)
133,553
129,636		 2024
£
4,015
2024
£
40,179
2024
£
1,039
4,195
5,234
Balance at 30
June 2025
£
340,271
2,340,522
2,680,793
Balance at 30
June 2024
£
450,726
2,116,889
2,567,615

Page 17

Docusign Envelope ID: A6757B97-F888-412D-8A9B-7FA2941E1AE5

The Constitution Society

Notes to the Financial Statements for the Year Ended 30 June 2025

19 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
877
290,390
54,549
(5,545)
340,271
Unrestricted
funds
General
£
1,170
410,596
44,194
(5,234)
450,726		 Endowment
funds
Permanent
£
-
2,340,522
-
-
2,340,522
Endowment
funds
Permanent
£
-
2,116,889
-
-
2,116,889		 Total funds
at 30 June
2025
£
877
2,630,912
54,549
(5,545)
2,680,793
Total funds
at 30 June
2024
£
1,170
2,527,485
44,194
(5,234)
2,567,615

20 Related party transactions

There were no related party transactions in the year.

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