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2022-12-31-accounts

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Registered Charity no. 1144426

Financial Statements

Year to 31 December 2022

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES Trustees and Professional Advisers For the Year to 31 December 2022

Trustees President S. Morton (Appointed October 2021)
Treasurer M. Kumari (Appointed October 2022)
Secretary B. Edwards (Appointed October 2022)
Past President D. Spini (Appointed October 2019)
Ordinary Member M. Wahrendorf (Appointed October 2020)
Ordinary Member M. Vuolo (Appointed October 2021)
Ordinary Member M. Studer (Appointed October 2021)
Ordinary Member K. Turek (Appointed October 2022)
Ordinary Member N.Insolera (Appointed October 2022)
Ordinary Member T. O'Toole (Appointed October 2022)
Ordinary Member J. Ordemann (Appointed October 2022)
Co-opted Member L. Calderwood (Appointed October 2015 - ongoing)
Co-opted Member Elizabeth Cooksey (Appointed October 2022 - ongoing)
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

Page 1

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 2022 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:

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:

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 19.10.23

Page 2

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES For the year to 31 December 2022

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 2022.

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 in-person and online via Zoom on 24th October 2022 and was attended by 52 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 321 members of the Society on 1st October 2022.

The Society’s main activities are:

The organisation of an annual international conference with participants from all over the world. The 2022 conference was hosted at Case Western Reserve University (Ohio) and was a hybrid event.

• 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.

Financial Review

The Society had a satisfactory year financially. The balance sheet at 31 December 2022 shows funds of £53,491.

Page 3

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES For the year to 31 December 2022

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:

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 8th October 2023 and signed on their behalf by:

Meena Kumari SLLS Treasurer

Page 3

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Statement of Financial Activities

For the year to 31 December 2022

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 2022
Balances carried forward at 31 December 2022		 2022
Unrestricted
Funds
£
50
75,986
-
76,036
19,462
-
26,565
6,827
2,008
2,650
595
-
1,040
59,147
16,889
(10,688)
6,201
47,290
53,491		 2022
Restricted
Funds
£
-
-
-
0
8,020
2,668
-
-
-
-
-
-
-
10,688
(10,688)
10,688
-
-
-		 2022
Total
£
50
75,986
-
76,036
27,482
2,668
26,565
6,827
2,008
2,650
595
-
1,040
69,835
6,201
-
6,201
47,290
53,491		 2021
Total
£
1
39,006
2,000
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

There were no other recognised gains or losses. All operations are continuing.

Page 5

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Balance Sheet

As at 31 December 2022

Notes
Fixed assets
Intangible assets
4
Current Assets
Debtors
5
Cash at bank and in hand
Creditors:Amounts falling due within one year
6
Net current assets
Net assets
Funds
7
Restricted funds
Unrestricted funds
Approved by the Trustees on 8 October 2023
Meena Kumari
SLLS Treasurer		 Unrestricted
£
£
1,740
3,017
49,734
52,751
1,000
51,751
51,751
53,491
-
53,491
53,491
-
2022		 £
£
-
10,508
38,072
48,580
1,290
47,290
47,290
47,290
-
47,290
47,290
-
2021		 £
£
-
10,508
38,072
48,580
1,290
47,290
47,290
47,290
-
47,290
47,290
-
2021
47,290
47,290
47,290
-
47,290
47,290
-

Page 6

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Statement of Accounting Policies

For the Year to 31 December 2022

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.

Page 7

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Notes to the Financial Statements

For the Year to 31 December 2022

or the Year to 31 December 2022
1 Incoming Resources from Charitable Activities
Conference income
Legacies
Membership fees
Other sundry income		 Unrestricted
2022
£
56,267
0
19,715
4
75,986		 Restricted
2022
£
-
-
-
-		 Total
2022
£
56,267
-
19,715
4
75,986		 Total
2021
£
26,072
2,000
11,934
1,000
41,006

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

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 (2021: £nil). Expenses paid to the trustees in the year totalled £nil (2021: £nil).

3 Staff costs

There are no employees so subsequently no staff costs are incurred.

4 Intangible Assets

Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for year
On disposals
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Website
£
-
1740
-
1,740
-
-
-
-
1,740
-

5 Debtors

Due within one year
Other debtors
Trade debtors - conference fees and membership
6 Creditors: amounts falling due within one year
Accrued expenses
2022
£
3,017
-
3,017
2022
£
1,000
1,000		 2021
£
3,489
7,019
10,508
2021
£
1,290
1,290

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Page 8

Notes to the Financial Statements (continued)

For the Year to 31 December 2022

7 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
Unrestricted Funds:
Current Year:
General funds
Conference income
Unrestricted Funds:
Prior Year:
Unrestricted Funds:
General funds
Conference income
Details of the journal project are given in the trustee		 Balance
31-Dec
2021
-
-
Balance
31-Dec
2020
-
-
Balance
31-Dec
2021
994
46,296
47,290
Balance
31-Dec
2020
7,389
56,186
63,575
s report.		 Incoming
resources
-
-
Incoming
resources
-
-
Incoming
resources
19,769
56,267
76,036
Incoming
resources
14,935
26,072
41,007		 Utilised
in year

10,688
10,688
Utilised
in year

7,419
7,419
Utilised
in year
18,543
40,604
59,147
Utilised
in year
21,330
28,543
49,873		 Transfered
from unrestricted
10,688
10,688
Transfered
from unrestricted
7,419
7,419
Transfered
between funds
-
(10,688)
(10,688)
Transfered
between funds
-
(7,419)
(7,419)		 Balance
31-Dec
2022
-
-
Balance
31-Dec
2021
-
-
Balance
31-Dec
2022
2,220
51,271
53,491
Balance
31-Dec
2021
994
46,296
47,290

A transfer was made from unrestricted conference funds to help fund the journal.

Page 8