2021-04-30-accounts - The Honourable The Irish Society

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		Page
Charity information		1-2
Trustees' report		3-10
Independent auditor's	report	11-13
Statement offinancial	activities	14
Balance sheet
Statement ofcash flows		16
Notes to the financial	statements	17-31
Mission statement		32

Chadty registration	Chadty registration	1150776
Registered	office	PO Box270
		Guildhall
		LONDON
		EC2P 2EJ
Auditor		Irwin Donaghey	Stockman		LLP
		23/25 Queen Street
		COLERAINE
		Co Londonderry
		BT52 1BG
Bankers		Danske Bank
		Corporate Banking Centre
		PO Box 183
		BELFAST
		BT16JS
Investment	managers	Baring Fund Managers		Ltd
		20 Old Bailey
		LONDON
		EC4M 7BF
		Cazenove Capital	Management
		1 London Wall Place
		LONDON
		EC2Y 5AU
Solicitors		Elliott Duffy Garrett
		Royston House
		34 Upper Queen	Street
		BELFAST
		BT16FD

List ofTrustees 2020-21	List ofTrustees 2020-21
Governor:		Alderman SirAndrew Charles	Parmley,	(to 04/03/2021)
		MusM Hon FGS
		The Rt Hon. The Lord Mayor,	Alderman
		William Anthony Bowater Russell		(from 04/03/2021)
Deputy Governor:		Peter Gerard Dunphy, Deputy		(to 04/03/2021)
		Wendy Hyde, Deputy		(from 04/03/2021)
Aldermen:		Nicholas Stephen Leland Lyons
		Gregory Jones, QC
Commoners:		John David Absalom, Deputy
		Simon D'Olier Duckworth, OBE, DL
		Sheriff Christopher Michael Hayward
		Vivienne Littlechild, MBE, JP
		Charles Edward Lord, OBE, JP, Deputy		(from 04/03/2021)
		Hugh Fenton Morris, Deputy
		James Henry George Pollard,	Deputy
		Richard David Regan, OBE, Deputy		(to 04/03/2021)
		lan Christopher Norman Seaton, MBE
		Jeremy Lewis Simons, OBE
		Philip Woodhouse, Deputy
Society's Representative
(Northern	Ireland) &Secretary:	Edward Montgomery, MBE DL
Assistant	Secretary:	Candya L Farmer

				Unrestricted	Restricted	Total	Total
				funds	funds
				2021	2021	2021	2020
			Notes	6	6	6	f
Donations and grants Other trading activities			3 4	25,000 284,578	70,000	95,000 284,578	82,500 281,854
Investment income Other income			5 6	270,275 4,375		270,275 4,375	297,598 3,270
Total income				584,228	70,000	654,228	665,222
Eza~itttmn;
Managing funds			7	33,913		33,913	38,092
Charitable activities			8	532,104	40,000	572,104	580,810
Total resources expended				566,017	40,000	606,017	618,902
Trading surplus/(deficit)				18,211	30,000	48,211	46,320
Net unrealised gains/(losses)		on investments	13	1,539,852		1,539,852	(603,579)
Net incoming/(outgoing)	resources			1,558,063	30,000	1,588,063	(557,259)
Other recognised gains and		losses
Revaluation oftangible	fixed assets			96,581		96,581
Net movement in funds				1,654,644	30,000	1,684,644	(557,259)
Fund balances at 1 May	2020			10,625,682	127,000	10,752,682	11,309,941
Fund balances at 30April 2021				12,280,326	157,000	12,437,326	10,752,682

					2021		2020
			Notes		8		6
Fixed assets
Tangible assets			14		724,501		644,384
Investment properties			15		3,802,000		3,256,506
Investments			16		7,653,074		6,683,410
					12,179,575		10,584,300
Current assets
Debtors			18	168,679		154,208
Cash at bank and	in	hand		316,372		164,538
				485,051		318,746
Creditors: amounts		falling due within
one year			19	(227,300)		(150,364)
Net current assets					257,751		168,382
Total assets less current liabilities					12,437,326		10,752,682
Income funds
Restricted funds					157,000		127,000
~nr ~tr' te I~unds
General unrestricted		funds		12,105,405		10,547,342
Revaluation reserve				174,921		78,340
					12,280,326		10,625,682
					12,437,326		10,752,682

					2021		2020
			Notes				F
Cash flows from operating	activities
Cash absorbed by operations			24		(106,391)		(311,836)
investing activities
Purchase oftangible fixed assets				(2,832)		(23,338)
Proceeds on disposal oftangible		fixed
assets						833
Purchase ofinvestment property						(38,645)
Schroders fees deducted at source				(9,219)		(9,249)
Interest received				270,275		297,598
Net cash generated from investing
activities					258,224		227,199
Net cash used in financing	activities
Net increase/(decrease) in cash		and	cash
equivalents					151,833		(84,637)
Cash and cash equivalents at	beginning		ofyear		164,538		249,175
Cash and cash equivalents	at end of		year		316,372		164,538

			Unrestricted	Restricted	Total	Total
			funds	funds
			2021	2021	2021	2020
			6	6	6	F
Donations	and grants		25,000	70,000	95,000	82,500
Forthe year ended 30April 2020			25,000	57,500		82,500
Donations	and	gifts
Livery company		- Drapers		20,000	20,000	20,000
Livery company		- Clothworkers		20,000	20,000	10,000
City of London			25,000		25,000	25,000
Drapers to	NCS			10,000	10,000	10,000
Mercers to	NCS			6,500	6,500	6,500
City of London to NCS				11,000	11,000	11,000
Other				2,500	2,500
			25,000	70,000	95,000	82,500

			Unrestricted
			funds	Total
			2021	2020
				6
Commercial	property	rent	122,962	131,318
Fishing, coarse, game		and sporting	161,616	150,536
Other trading	activities		284,578	281,854

		Unrestricted
		funds	Total
		2021	2020
		6	f
	Dividends - equities	270,275	297,598
6	Other income

		Unrestricted
		funds	Total
		2021	2020
			6
Net gain on disposal oftangible	fixed assets		833
Other income		4,375	2,437
		4,375	3,270

			Unrestricted
			funds	Total
			2021	2020
			6	f
Investment	management	fees	33,913	38,092
			33,913	38,092

		Education	Community Environmental	Community Environmental		Total	Total
			Development Protection &			2021	2020
			Improvement
			6	6
Grant funding of activities
(see note 9)		125,942	64,856	11,250	202,048		237,650
Share ofsupport costs (see
note 10) Share ofgovernance	costs	65,396	65,394	196,181	326,971		289,677
(see note 10)		8,616	8,617	25,850	43,083		53,481
		199,954	138,867	233,281	572,104		580,810
Analysis by fund
Unrestdcted funds		181,406	118,167	232,531	532,104
Restricted funds		18,550	20,700	750	40,000
		199,956	138,867	233,281	572,104
Forthe year ended	30April	2020
Unrestricted funds Restricted funds		183,919 16,768	122,573 20,656	235,194 1,700			541,686 39,124
		200,687	143,229	236,894			580,810
Grants payable
		Education CommunityEnvironmental				Total	Total
			Development	Protection	&	2021	2020
				Improvement
			8		8
Grants to institutions:
Advisory Committee Clothworkers			26,941 10,650 26,223 9,350	2,700		55,864 20,000	54,166 20,000
Drapers London budget To NCS			7,550 40,454 40,000 11,350 17,433	750 7,800		19,650 65,687 40,000	19,124 108,428 34,435
		125,592 64,356		11,250		201,198	236,150
Grants to individuals			350 500			850	1,500
		125,942 64,856		11,250		202,048	237,650

Supportcosts
				Support	Governance	2021	2020
				costs	costs
					6
Staffcosts				182,138	36,363	218,501	221,320
Depreciation				19,295		19,295	18,169
Rent, rates, insurance	&	utilities		17,679		17,679	18,215
Repairs &maintenance				5,064		5,064	19,482
Advertising, PR, & printing				750		750	587
Telephone				1,998		1,998	1,954
Computer &website costs				5,909		5,909	750
Motor &travel				12,275		12,275	16,064
Legal 8 professional	(Nl	property)		77,048		77,048	24,534
Audit &accountancy				1,884		1,884	1,814
General (office sundries,		stationery,	subscriptions)	2,931		2,931	4,516
Audit fees					2,400	2,400	2,400
Accountancy					1,600	1,600	1,600
Trustee 8 executive expenses							9,137
Legal fees (non-property)					2,720	2,720	2,619
				326,971	43,083	370,054	343,161
Analysed between
Charitable activities				326,971	43,083	370,054	343,161

The average	monthly number of full time equivalent e	mployees during the year was:
		2021	2020
		Number	Number
Direct charitable activities
Administration
Employment	costs	2021	2020
		6
Wages and salaries		169,562	169,791
Social security	costs	17,113	17,230
Other pension	costs	31,826	34,299
		218,501	221,320

				2021	2020
				Number	Number
	560,001-670,000			1	1
13	Net gains/(losses)		on investments
				Unrestricted	Total
				funds
				2021	2020
					f
	Net unrealised Revaluation of	gains/(losses) on investments investment properties		994,358 545,494	(603,579)
				1,539,852	(603,579)

Tangible fixed assets	Tangible fixed assets
		Leasehold	Motor vehicles	Furniture and	Total
		land and	and boats	office
		buildings		equipment
		E	E
Cost or valuation
At 1 May 2020		683,420	49,959	20,681	754,060
Additions			2,832		2,832
Revaluation		96,581			96,581
At 30April 2021		780,001	52,791	20,681	853,473
Depreciation and impairment
At 1 May 2020		54,168	38,357	17,152	109,677
Depreciation charged	in the year	15,600	2,600	1,095	19,295
At 30April 2021		69,768	40,957	18,247	128,972
Carrying amount
At 30April 2021		710,233	11,834	2,434	724,501
At 30April 2020		629,252	11,602	3,530	644,384

Investment property
		2021
		E
Fair value
At 1 May 2020 Net gains or losses through	fair value adjustments	3,256,506 545,494
At 30April 2021		3,802,000

					Listed	Other	Cash held by	Total
					investments	investments	investment
							manager
	Cost or valuation
	At1 May 2020				6,660,622		22,786	6,683,410
	Investment gains - unrealised				994,358			994,358
	Barings investment	management		costs	(24,694)			(24,694)
	At 30April 2021				7,630,286		22,786	7,653,074
	Carrying amount
	At 30April 2021				7,630,286	2	22,786	7,653,074
	At 30April 2020				6,660,622	2	22,786	6,683,410
17	Financial instruments						2021	2020
							6	5
	Carrying amount	of	financial assets
	Instruments measured		at fair value through		profit or loss		7,630,286	6,660,622
18	Debtors
							2021	2020
	Amounts falling due		within one	year:				6
	Trade debtors						120,235	111,291
	Other debtors						44,234	38,397
	Prepayments and accrued income						4,210	4,520
							168,679	154,208

Creditors: am	ounts	falling due within one year
			2021	2020
			f
Other taxation	and social security		24,639	17,634
Trade creditors			21,162	1,759
Other creditors			156,737	110,298
Accruals and deferred		income	24,762	20,673
			227,300	150,364

Valuation date			31 March 2019	31 March 2016
Value ofassets (smoothed)			61,062,901,000	5796,301,000
Value of liabilities			51,175,715,000	F945,576,000
Funding level ofaccrued benefits			90%
Investment return on future contributions		per annum	98%	5.7%
Investment return on accumulated	assets	per annum	98%	5.7%
Pension increases per annum			2.6%	24%
Rate of price inflation			2.6%	2 4%

Analysis	of net assets	between funds
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		2021 f	2021 6	2021	2020	2020	2020
Fund balances at 30
April 2021	are
represented	by:
Tangible assets Investment properties Investments Current assets/		724,501 3,802,000 7,653,074		724,501 3,802,000 7,653,074	644,384 3,256,506 6,683,410		644,384 3,256,506 6,683,410
(liabilities)		257,751		257,751	41,382	127,000	168,382
		12,437,326		12,437,326	10,625,682	127,000	10,752,682

			2021	2020
				8
Within	one	year	550	550

		2021	2020
			F
Aggregate	compensation	80,972	80,078

									(Continued)
24	Cash generated	from operations						2021	2020
									6
	Surplus/(deficit)	for	the year					1,588,063	(557,259)
	Adjustments for:
	Investment income		recognised	in statement		offinancial	activities	(236,362)	(259,506)
	Gain on disposal	of	tangible fixed assets						(833)
	Fair value gains	and	losses on	investment		properties		(545,494)
	Fair value gains	and	losses on	investments				(994,358)	603,579
	Depreciation and	impairment oftangible			fixed assets			19,295	18,169
	Movements in working capital:
	(Increase) in debtors							(14,471)	(28,812)
	Increase/(decrease)		in creditors					76,936	(87,174)
	Cash absorbed	by	operations					(106,391)	(311,836)