SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Registered Charity no. 1144426
Financial Statements
Year to 31 December 2021
SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES Trustees and Professional Advisers For the Year to 31 December 2021
Trustees President I. Schoon Treasurer T. Robertson Secretary W. Lauterbach President Elect D. Spini Ordinary Member M. Kelly-Irving Ordinary Member S.Tsoli Ordinary Member L. Panico Ordinary Member G. Baranyi Ordinary Member M. Kumari Ordinary Member M. Clare Lennon Ordinary Member M. Kirkpatrick-Johnson Co-opted Member S. Morton Co-opted Member L. Calderwood Co-opted Member H. Joshi Co-opted Member B. Edwards Principle Office Centre for Longitudinal Studies, The Institute of Education, 20 Bedford Way, London WC1H 0AL Admin Office 16 Fisher Road Newton Abbot Devon TQ12 2NB Independant Examiners Victoria Neil Neil & Co 30 Cedar Avenue East Barnet Herts EN4 8DX Bankers The Co-operative Bank
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
For the year to 31 December 2021
Trustees’ Report
The Society gained registration from the Charity Commissioners in February 2011. This report and financial statement meets the requirements of the SORP for accounting by Charities (revised 2005).
Governance
The Society was established at its first AGM in Cambridge in September 2010 where the Society’s constitution was adopted. There is an open process of nomination and then balloting as required by the constitution. These elections result in the election of the President (for a 2 year period), Past President/President Elect (for a one year period), Treasurer (for a 4 year period), Secretary and (six) other Trustees (for 3 year periods). There are five co-options (annually). The elections took place in spring 2021.
Governance and management of the Society is vested in the Trustees who meet twice a year as the Executive Committee of the Society.
The AGM was held online via Zoom on 21st September 2021 and was attended by 34 members.
Objectives and activities
The Object of the Society is the advancement of education through the promotion of interdisciplinary and cross-national understanding and collaboration in longitudinal and life course studies. There were 267 members of the Society at 30th September 2021.
The Society’s main activities are:
The organisation of an annual international conference with participants from all over the world. The 2021 conference was held entirely online due to Covid-19 restrictions.
• The production of an international on-line Journal. The Longitudinal and Life Course Studies Journal was founded by our sister charity, Longview, in 2009 with three years of initial support from the Nuffield Foundation. From March 2012, the Journal became the sole responsibility of the Society, until Bristol University Press took over the role of publisher in September 2018.
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The provision of a Members Newsletter every three months.
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The promotion of national and international networks between people working in the fields of
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longitudinal and life course studies.
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The organisation and sponsoring of other meetings and workshops as the opportunity arises.
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The establishment of a network of Society Global Representatives in countries across Europe and
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North America to encourage national networking and activities.
Financial Review
The Society had a satisfactory year financially. The balance sheet at 31 December 2021 shows funds of £47,290.
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES For the year to 31 December 2021
Trustees’ Report (continued)
Reserves policy
The SLLS aim to maintain unrestricted reserves of 10 months expenditure to enable them to meet expenses as they fall due. They believe 10 months is sufficient given income expected from this year’s conference/ grants etc.
Statement of Trustees’ responsibilities
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Charity law applicable to charities in England/Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the Accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which are sufficient to show and explain The Society’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Public benefit statement
The Board of Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit publicised by the Charity Commission in exercising their powers and duties. The public benefit of the Charity's activities are outlined under 'Objectives and Activities' above.
The financial statements which follow were approved by Trustees at their meeting on 22nd October 2022 and signed on their behalf by:
Dario Spini SLLS President
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Independent Examiner's Report to the Trustees of Society for Longitudinal and Life Course Studies
I report on the accounts of the charity for the year to 31 December 2021 which are set out on the following pages.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b)
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of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the
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2011 Act
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Victoria Neil ACA
Neil & Co Chartered Accountants
30 Cedar Avenue East Barnet Herts, EN4 8DX
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Statement of Financial Activities
For the year to 31 December 2021
| Notes INCOMING RESOURCES Incoming resources from generated funds: Bank interest receivable Incoming resources from charitable activities 1 Other incoming resources RESOURCES EXPENDED - SUPPORT COSTS Secretarial / administrative Consultancy and journal editorial Conference expenses including venues Telephone, internet and website Other administration and project expenses Bank charges Foreign exchange losses Professional fees Professional fees - Accountant Total resources expended Net incoming resources for the year before transfers Gross transfers between funds 6 Net incoming resources for the year and net movement in funds Balances brought forward at 1 January 2021 Balances carried forward at 31 December 2021 |
2021 Unrestricted Funds £ 1 41,006 - 41,007 17,472 3,000 17,523 4,743 1,560 995 3,697 163 720 49,873 (8,866) (7,419) (16,285) 63,575 47,290 |
2021 Restricted Funds £ - - - 0 2,929 4,490 - - - - - - - 7,419 (7,419) 7,419 - - - |
2021 Total £ 1 41,006 - 41,007 20,401 7,490 17,523 4,743 1,560 995 3,697 163 720 57,292 (16,285) - (16,285) 63,575 47,290 |
2020 Total £ 3 13,169 - |
|---|---|---|---|---|
| 13,172 | ||||
| 15,258 9,021 5,665 4,948 3,367 390 (2,412) 322 1,100 |
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| - 37,659 |
||||
| (24,487) - |
||||
| (24,487) 88,062 |
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| 63,575 |
There were no other recognised gains or losses. All operations are continuing.
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Balance Sheet
As at 31 December 2021
| Notes Current Assets Debtors 4 Cash at bank and in hand Creditors:Amounts falling due within one year 5 Net current assets Net assets Funds 6 Restricted funds Unrestricted funds Approved by the Trustees on 22 October 2022. Tony Robertson Treasurer |
Unrestricted £ £ 10,508 38,072 48,580 1,290 47,290 47,290 47,290 - 47,290 47,290 - 2021 |
£ £ 7,337 57,535 64,872 1,297 63,575 63,575 63,575 - 63,575 63,575 - 2020 |
£ £ 7,337 57,535 64,872 1,297 63,575 63,575 63,575 - 63,575 63,575 - 2020 |
|---|---|---|---|
| 63,575 63,575 |
|||
| - 63,575 |
|||
| 63,575 | |||
| - |
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Statement of Accounting Policies
For the Year to 31 December 2021
The principal accounting policies which are adopted in the preparation of the financial statements are set out below:
Basis of accounting
The financial statements of the charity, which is a public benefit entity, 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) (effective 1 January 2015)', the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Fund accounting
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost 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. Statutory grants which are given as contributions towards the Charity's core services are treated as unrestricted.
Incoming resources
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated.
Income tax recoverable in relation to investment income or Gift Aid donationsis recognised at the time the relevant income is receivable.
Resources expended
All expenditure is recognised on an accruals basis. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Notes to the Financial Statements
For the Year to 31 December 2021
1 Incoming Resources from Charitable Activities
| Conference income Legacies Journal income Membership fees Other sundry income |
Unrestricted 2021 £ 26,072 2,000 - 11,934 1,000 41,006 |
Restricted 2021 £ - - - - - |
Total 2021 £ 26,072 2,000 - 11,934 1,000 41,006 |
Total 2020 £ 643 - - 12,526 - |
|---|---|---|---|---|
| 13,169 |
The restricted income are amounts received for specific purposes.
All income in the prior year was unrestricted.
2 Transactions with Trustees and related parties expenses
During the year no transactions occurred with related parties which required disclosure under the Financial Reporting Standard for Smaller Entities.
None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity.
The trustees all give freely of their time and expertise without any form of benefit in cash or kind (2020: £nil). Expenses paid to the trustees in the year totalled £nil (2020: £nil).
3 Staff costs
There are no employees so subsequently no staff costs are incurred.
4 Debtors
Due within one year
| Other debtors Trade debtors - conference fees and membership 5 Creditors: amounts falling due within one year Accrued expenses |
2021 £ 3,489 7,019 10,508 2021 £ 1,290 1,290 |
2020 £ 2,129 5,208 |
|---|---|---|
| 7,337 | ||
| 2020 £ 1,297 |
||
| 1,297 |
6 Funds
The funds of the charity include the following restricted funds which have been set aside out of unrestricted funds for specific purposes:
| Restricted Funds: Current Year: Journal Restricted Funds: Prior Year: Journal Details of the journal project are given in the trustee |
Balance 31-Dec 2020 - - Balance 31-Dec 2019 - - s report. |
Incoming resources - - Incoming resources - - |
Utilised in year 7,419 7,419 Utilised in year 8,926 8,926 |
Transfered from unrestricted 7,419 7,419 Transfered from unrestricted 8,926 8,926 |
Balance 31-Dec 2021 - |
|---|---|---|---|---|---|
| - | |||||
| Balance 31-Dec 2020 - |
|||||
| - |
Details of the journal project are given in the trustees report.
Details of the journal project are given in the trustees report.
| Unrestricted Funds: Current Year: General funds Conference income |
Balance 31-Dec 2020 7,389 56,186 63,575 |
Incoming resources 14,935 26,072 41,007 |
Utilised in year 21,330 28,543 49,873 |
Transfered between funds - (7,419) (7,419) |
Balance 31-Dec 2021 994 46,296 |
|---|---|---|---|---|---|
| 47,290 |
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SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES
Notes to the Financial Statements (continued)
For the Year to 31 December 2021
| 6 Funds(continued) Unrestricted Funds: Prior Year: Unrestricted Funds: General funds Conference income |
Balance 31-Dec 2019 12,241 75,821 88,062 |
Incoming resources 12,529 643 13,172 |
Utilised in year 17,381 11,352 28,733 |
Transfered between funds - (8,926) (8,926) |
Balance 31-Dec 2020 7,389 56,186 |
|---|---|---|---|---|---|
| 63,575 |
A transfer was made from unrestricted conference funds to help fund the journal.
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