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← Society For Longitudinal And Life Course Studies

2023-12-31-accounts

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Registered Charity no. 1144426

Financial Statements

Year to 31 December 2023

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES Trustees and Professional Advisers For the Year to 31 December 2023

Trustees President S. Morton
Treasurer M. Kumari
Secretary B. Edwards
President Elect D. Spini (Resigned 9 September 2023)
Co-opted Member L. Calderwood
Ordinary Member M. Wahrendorf (Resigned 30 April 2024)
Ordinary Member M. Studer (Resigned 23 September 2024)
Ordinary Member M.Vuolo (Resigned 23 September 2024)
Ordinary Member K.Turek
Ordinary Member N.Insolera
Ordinary Member J. Odemann
Ordinary Member T. O'Toole
D. Dannefer (Appointed 10 October 2023)
A.Robertson (Appointed 10 October 2023)
L.Gambaro (Appointed 10 October 2023)
B.Vanhoutte (Appointed 1 May 2024)
K.Burger (Appointed 24 September 2024)
T.Liao (Appointed 26 September 2024)
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 2023 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

Page 2

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES For the year to 31 December 2023

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 up to five co-options (annually). The elections took place in spring 2023.

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 at the University of Munich on Tuesday 10th October 2023 and was attended by 48 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 301 members of the Society on 1st October 2023.

The Society’s main activities are:

The organisation of an annual international conference with participants from all over the world. The 2023 conference was hosted at the University of Munich and was an 'in-person' only 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 2023 shows funds of £76,160.

Page 3

For the year to 31 December 2023

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 23rd September 2024 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 2023

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
Ammortisiation
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 2023
Balances carried forward at 31 December 2023		 2023
Unrestricted
Funds
£
25
140,417
-
140,442
21,408
-
66,008
8,896
4,076
5,051
(155)
348
1,230
106,862
33,580
(10,911)
22,669
53,491
76,160		 2023
Restricted
Funds
£
-
-
-
0
7,796
3,115
-
-
-
-
-
-
-
10,911
(10,911)
10,911
-
-
-		 2023
Total
£
25
140,417
-
140,442
29,204
3,115
66,008
8,896
4,076
5,051
(155)
348
1,230
117,773
22,669
-
22,669
53,491
76,160		 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

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 2023

Notes
Fixed assets
Intangible assets
4
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 23 September 2024
Meena Kumari
SLLS Treasurer		 Unrestricted
£
£
1,392
229
1,621
1,961
74,033
75,994
1,455
74,539
74,539
76,160
-
76,160
76,160
-
2023		 £
£
1,740
-
1,740
3,017
49,734
52,751
1,000
51,751
51,751
53,491
-
53,491
53,491
-
2022		 £
£
1,740
-
1,740
3,017
49,734
52,751
1,000
51,751
51,751
53,491
-
53,491
53,491
-
2022
1,740
51,751
51,751
53,491
-
53,491
53,491
-

Page 6

SOCIETY FOR LONGITUDINAL AND LIFE COURSE STUDIES

Statement of Accounting Policies

For the Year to 31 December 2023

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 2023

or the Year to 31 December 2023
1 Incoming Resources from Charitable Activities
Donations
Conference income
Membership fees
Other sundry income		 Unrestricted
2023
£
18
120,504
19,890
5
140,417		 Restricted
2023
£
-
-
-
-
-		 Total
2023
£
18
120,504
19,890
5
140,417		 Total
2022
£
-
56,267
19,715
4
75,986

The restricted income are amounts received for specific purposes. All income in the prior year was unrestricted.

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 (2022: £nil). Expenses paid to the trustees in the year totalled £nil (2022: £nil).

3 Staff costs

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

4 Assets

Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for year
On disposals
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Intangible
Website
£
1740
-
-
1,740
-
348
-
348
1,392
1,740		 Tangible
Office Equipment
£
-
229
-
229
-
-
-
-
229
-
5
Debtors
Due within one year
Other debtors
Trade debtors - conference fees and membership
6
Creditors: amounts falling due within one year
Accrued expenses		 2023
£
1,961
-
1,961
2023
£
1,455
1,455		 2022
£
3,489
7,019
10,508
2022
£
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 2023

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		 Balance
31-Dec
2022
-
-
Balance
31-Dec
2021
-
-		 Incoming
resources
-
-
Incoming
resources
-
-		 Utilised
in year

10,911
10,911
Utilised
in year

10,688
10,688		 Transferred
from unrestricted
10,911
10,911
Transferred
from unrestricted
10,688
10,688		 Balance
31-Dec
2023
-
-
Balance
31-Dec
2022
-
-
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
2022
2,220
51,271
53,491
Balance
31-Dec
2021
994
46,296
63,575
s report.		 Incoming
resources
19,938
120,504
140,442
Incoming
resources
19,769
56,267
41,007		 Utilised
in year
26,485
80,377
106,862
Utilised
in year
18,543
40,604
49,873		 Transferred
between funds
4,327
(15,238)
(10,911)
Transferred
between funds
-
(10,688)
(7,419)		 Balance
31-Dec
2023
-
76,160
76,160
Balance
31-Dec
2022
2,220
51,271
53,491

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

A transfer was also made between categories of unrestricted funds to fund general activities.

Page 8