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2022-12-31-accounts

(Company limited by guarantee no. 07034627 registered charity no. 1155498)

REPORT AND FINANCIAL STATEMENTS

FOR YEAR ENDED 31 DECEMBER 2022

THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2022

CONTENTS

Page
1. Legal and administrative information 2
2.Board of Trustees’ report 3
3.Chairpersons’ overview 3
4.Objectives
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5.Achievements
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6.Activitiesand Events
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7.Financial report 19
8.Statement of Trustees’ responsibilities 21
9.Independent auditors’ report 23
10.Statement of Financial Activities 27
11.Balance Sheet 28
12.Cash Flow Statement 29
13.Notesto the Financial Statements 30

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THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

1. REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ITS ADVISORS

For the year ended 31 December 2022

Board of Trustees Angela Hope-Murray
Jonathan Leiserach
Andy Pearce
Philip Beckwith
Andrea Defries
Chika Robertson
John Kent
Taner Dedazade
Jyoti Sweetman (appointed 23/02/2022)
Company reg.no. 07034627
Charity reg.no. 1155498
Registered office Colet House
151 Talgarth Road
LONDON
W14 9DA
Contact details www.studysociety.org
Auditor Knox Cropper LLP
65 Leadenhall Street
LONDON
EC3A 2AD
Banker CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill, West Malling
KENT
MM19 4JQ
Investment WavertonInvestment Management Ltd
Manager 16 Babmaes Street, London, SW1Y 6AH

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2. BOARD OF TRUSTEES’ REPORT

For the year ended 31 December 2022

The Board of Trustees, who are also directors of the Company for the purposes of the Companies Act, and trustees for charity law purposes, submit their annual report and the financial statements of The Study Society for the year ended 31 December 2022. The Board of Trustees confirms that the annual report and financial statements of the Company comply with current statutory requirements, the requirements of the Company’s governing document, and the provisions of the Statement of Recommended Practice (FRS 102).

Structure, Governance & management

The governing document of the charitable company is its Memorandum and Articles of Association.

The charity is a company limited by guarantee and not having a share capital. Its registered charity number is 1155498.

New trustees are recruited and appointed by the directors during the year. These appointments are usually endorsed by members at the following AGM. Prior to the AGM, members of the charity may also nominate people who they feel would be a good addition to the Board, for election at the AGM.

The trustees act as the board of directors. The board is responsible for setting policy and strategy. While the board is also responsible for the day-to-day running of the charity, including defining and reviewing its operating procedures, in practice much of this is delegated to the Managing Director of the charity.

The trustees of the charity and its staff and volunteers are encouraged to study relevant sections of Charity Commission guidance to ensure that the charity’s activities remain compliant with the guidance. Trustees and staff are encouraged to review the skills and capabilities needed to fill their roles and the charity provides training where training needs are identified.

3. CO-CHAIR OVERVIEW

The year began with the country in the grips of another wave of Covid (Omicron), which had ’ - an impact on the charity s in person meetings and events as well as a detrimental effect on our room hire income. Many of our activities, having made a tentative return to Colet House during the latter part of 2021, were once more confined to the online realm.

‘ ’ – At the start of the year the Round and Square tables trustees and heads of the disciplines – and lineages met in person for a day of workshopping the future vision and strategy. The meeting proved a hugely productive one and later in the year, led by Andrea Defries and John Kent, the board signed off on a new vision and strategy guiding document for the charity, which was presented at the AGM.

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In February Jyoti Sweetman returned to the board, at the invitation of the other trustees, as trustee and treasurer. We are very grateful to have her expertise and experience back on board.

In March we held a large meditation gathering in the Top Studio at Colet House in solidarity with the people of Ukraine following the Russian invasion.

With the house empty we took the opportunity to continue our programme of restorative maintenance completing repointing to front external walls and repainting of windows and doors, repairs to roofs and gutters, replacing fire doors and carrying out minor repairs in response to our Fire Risk Assessment, as well as numerous internal repairs and redecorations.

In April Carita Keranen stepped down from her role as Office Administrator and we gratefully acknowledge her three years of service to the society, much of which took place during the challenging times of covid. She moves onto a new role with a new organisation and we wish her every future success and happiness. Her workload was split between existing staff including Gaia Comandini, who went from part-time to full-time in April. She will be missed by all at Colet House.

As we moved towards the spring and restrictions amidst Covid relaxed we began putting on new in-person classes and events including Qigong, Tai-Chi, Yoga, African Drum Circle, Butoh, Kunda Dance, Playfulness, Kirtans and Song Circles, Vedic Chanting, 5 Rhythms, Qora, - - Self Inquiry meetings and many more. We had talks from guest non dual speakers including - Rupert Spira and Tony Parsons. We started offering in person wellness treatments with our - in house practitioner Stephen Swords.

Over the summer, as a means to accommodate the widening palate of offerings, we created a Colet House brand to distinguish between our newer offerings and the lineages that have been the core of The Study Society for the past 70 years. This has been a great success and enabled us to attract a wide and diverse new audience to the house, many of whom now - join our growing community on a weekly basis and help to re energise the traditional practices the society is custodian of.

From Easter to July LAMDA students made use of the house during the weekdays, helping to keep our running costs met. British Youth Opera returned to the house in August for a – - month to rehearse their summer opera Sir John in Love which they then performed at Holland Park Opera.

In June we held the world Premier of Green Man Ho! in celebration of the life and works of Dr Roles, the founder of the organisation; an ambitious staging of the operatic setting by

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In summer our regular annual retreat led by Philip Marvin returned after the covid enforced hiatus for a long weekend of meditation, study, and rest and reflection in the beautiful ’ - grounds of Fintry House. Philip s in person Advaita meetings also returned to Colet House later in the year.

In late September we held our first ever Colet House Open Day where we showcased the new classes and workshops we had originated during the first half of the year with 30 minute taster classes open and free to all, we had a pop up kitchen in the Refectory serving meals and snacks and the day culminated with a short performance from our Whirling - Dervishes, which included an opportunity for guests to be shown how to slow turn, and a Kirtan from ⇧árka Elias. The event was attended by over 120 guests, was oversubscribed, and was a great success.

Membership growth began to stall in the latter part of the year, driven in part by the - increase in in person offerings from other organisations as the world returned to business - - as usual following the pandemic lockdowns, and in part by the cost of living crisis and - - runaway inflation. In response to this we returned to a free for all approach to many of our offerings, asking for donations instead of charging for many of our classes, workshops and events. We also scrapped our more expensive membership tiers and took a one-size-fits-all approach. This saw an increase in new subscriptions towards the end of the year. Membership is high on the agenda for an overhaul in 2023.

Our annual celebration for HH Shantanad Saraswati was marked in early December with Kirtan from Nikki Slade, readings from the record and shared silent meditation. Later in - December we held an in person Shebi Arus Whirling Dervish ceremony for our members: a beautiful and moving evening marking the return of the turners to Colet House.

Jonathan Leiserach, Andrea Defries

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4. OBJECTIVES

Statement of Purpose & Objectives

Vision

To become a global beacon of inspiration for all those seeking their true Identity through - profound self inquiry, meditation, sacred dance and other practices that lead to inner peace, clarity of mind, compassion and happiness.

Mission

To advance the understanding of the nature of consciousness by providing a unique, multidisciplinary blend of sacred and secular knowledge.

Values

The Study Society is a socially responsible, inclusive and financially sustainable charity that values equity, transparency and kindness.

Objects

The objects of the charity as set out in its Articles are, for the public benefit:

Public benefit

When reviewing the charity’s aims and objectives, and in planning future activities, the trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit.

Risk management

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate against the charity’s exposure to major risks.

Reserves policy

The principal risk that the trustees have recognised the charity being exposed to is that the costs of the charity exceed its income over an extended period causing the charity to be unable to remain solvent without selling its principal asset, Colet House.

For this reason, the trustees have determined that the charity should hold reserves at such a level that if there were a sudden loss of income whose impact would be that the charity was no longer able to afford to maintain Colet House, it would not be forced into a rushed sale. The charity’s trustees believe that an appropriate level of reserves is equivalent to 18 months of annual expenditure, adjusted for transfers to / from reserves, based on the rolling average expenditure of the last three years’ accounts. Maintaining this level of

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reserves would provide funding for the winding down of activities at Colet House and would provide the charity with time to find an alternative home for many of the activities hosted by the charity and used to deliver its objects.

5. ACHIEVEMENTS

5.1. Colet House - maintenance, repairs & renewals

During the year in addition to the regular servicing and maintenance of the house and its systems, we cleaned and re-pointed the front of Colet House as well as the side walls, repairing and painting all front windows and door and fixing bits of guttering and hoppers. We replaced both of the side fire doors and carried out additional refurbishment and repair to the side alley boarding. We redecorated the landing outside the Top Studio. We added bannisters to the turret staircase fire exits and, following our Fire Risk Assessment carried out numerous minor improving works around the house to bring us up to date and inline with requirements. During the Summer we had the Top Studio floors stripped, sanded and varnished. We suffered a serious leak from the roof of the bay window in the Top Studio during the summer and had to erect scaffolding in order to clear the gutter and repair damage. Plans for 2023 include replacing the rotten balustrade on the front terrace, revamping the refectory, reflooring the corridors and office, and installing drinking fountains.

5.2. Colet House - new brand and Open Days

5.3. Room Hire

One of the principal ways in which the charity achieves its charitable objectives is through hiring out space at Colet House which is surplus to the charity’s own requirements to educational charities and other organisations with similar aims and outlooks.

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This list is intended to provide an indication of the variety of organisations who benefitted from the space available at Colet House. Many smaller organisations also enjoyed the space available at Colet House for small group meetings, rehearsals, performances, as well as for sessions including yoga, meditation, drumming, and Kirtan.

6. ACTIVITIES AND EVENTS

From April2020in response to thepandemic andsubsequent lockdowns we movedmost of our meetings, classes, andevents online using the Zoomplatform. This setup continued throughout muchof 2021 althoughbeginning in the Autumn some classes, workshops, and events returnedto Colet House. During 2022weestablishedagoodmix of in-person activities andevents, ‘hybrid’events andmeetings takingplace at Colet House but also

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online via Zoom andalso Zoom only events andmeetings to continue to support members of our community that remain unable to attendinperson meetings andevents.

Elevenpeople were initiatedinto the mantra meditation during 2022. They were all individually supportedafterwards andinvited inperson or on Zoom to meetings andtojoin the Silent Meditations.

The Silent Meditations continuedthroughout 2022on Wednesday andSunday evenings. We arejoinedregularly bypeople from across the UKas wellas the US, Greece andFrance.

On May 15th2022, we tookpart in a Global Meditation for Peace. It was hostedat Colet House andon Zoom. About 50people came inperson to Colet House andmembers from Australiajoinedwithothers on Zoom for an hour of silent meditation.

At the Study Society Open Day, whichwas open to thegeneralpublic on Saturday Sept 24th at Colet House, two sessions on the mantra meditation were offeredduring the day. This resultedin severalpeople coming to learn about the meditation we offer.

There was a Meditation Meet Up inperson at Colet House on March5th2023when several new meditators came toshare time together, meditate andaskquestions.

On December 5thColet House heldits annual celebration for His Holiness Shantanand Saraswati, the headof our tradition. The evening was openedup to allthepractitioners who use the studio spaces at Colet House as wellas toour sister organisations.

The new website is helping to spreadthe influence of our workandhas resultedin many people asking for andreceiving the meditation.

’ 6.2 Vedic and Kirtan Chanting (Margaret OKeeffe)

Kirtan is a callandresponse form of singing meditation in HindiandSanskrit, the ancient language of mantra. Kirtan formspart of the Bhaktitradition whichis known as theyoga of devotion. Its main expression is throughthe sharing of music andpoetry in community. H.H. ShantanandSaraswationce describedKirtan as an external counterpart to meditation that ‘ ’ - can helppeople relieve tension, learn how to attend, re charge andbecome happier. The chant compositions usephrases and concepts basedon classical Indian raag. They are designedto calm restless minds, dissolve anger, generatepeace andsparkjoy. Kirtan is a - beautifulway to connect withthe heart andgenerate a sense ofwell being for oneself and others.

Regular Kirtans are facilitatedtwice a month by Margaret O’Keeffeon ‘GoodCompany Monday’evenings from 6pm to 6:30pm on zoom.

6.3 Good Company (Jonathan Leiserach)

Welcoming attendees from aroundthe country andabroadthe Society’s Monday Good Company evenings continuedto bepresentedin hybridform, bothlive at Colet House andon

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zoom throughout three seasons. Given the increasing challenges and cost of travelthis formatprovedsuccessful.

The evenings open withaphysicalpractice suchas Kirtan chant oryoga breathing exercises leading into 30minutes of sharedsilent meditation. This is followedbypresentationsgiven by Society members or invitedguest speakers. Themes centralto thesegatherings included ‘What is it to be human?’ and ‘Truth’.

Realthanks to our many contributors andpractitioners who make these evenings so special. Any notes or recordings of theseevenings are available to members on the Society’s website. SpecialGuest Speakers in 2022included:

Andmany more…

6.4 Advaita Sundays (Philip Marvin andNorman Alderton)

Our monthly Sunday Advaita meetings run by Philip Marvin andNorman Alderton continued throughout theyear on Zoom.

6.5 Caversham Group (Peter Eadie)

The Cavershamgroup also heldvirtualmeetings via Zoom, andunder Peter Eadie’s leadership enjoyeda highstandardofpapers, whichare on the website.

At the endof theyear, Peter diedverypeacefully at home withFionnuala at his side. He was 95. Peter readHistory at Oxfordandwas an honorary life member andformer chairman of the BritishGuildof TravelWriters. An author, editor andlecturer on History andTravel, he was awardeda ChurchillFellowship for Biography andTravelWriting.

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His mother Margaret Watt Eadie became apupilof PDOuspensky in the early thirties aroundthe same time as Dr Roles, andfrom 4 - 15years oldPeter visitedGaddesden and Lyne meeting Mr Ouspensky and Madame andmany of theirpupils during thisperiod.

Peter was to become the most loyaland constantpupilof Dr Roles. He andFionnoula led groups first at their London home andthen Caversham. Ameditator andturner, he also editedThe Bridge for more than 15years, including, importantly, his own inspiration, memorialissues on P DOuspensky(No 12) andDr Francis CRoles(No 14), andthen the 2006 edition(No 15). This reflectedhow members of the Society continue theongoing searchfor truthset by PDOuspensky, basedon the understanding of Consciousness, our RealSelf and the Universe, continuing the workof our teachers, Mr Ouspensky, SriSantanandSaraswati, the late Shankaracharya of Northern India andDr Roles, allenhancedby the mantra meditation. Peter was stillwritingpapers andleading the Cavershamgroup this month.

6.6 Wellington Group (MichaelHarris)

The New Zealandgroup sent us copies of their meetingpapers whichwere widely welcomed. 6.7 Mevlevi Turning (Kim Richardson)

During 2022we were able togradually buildup the turningpractice at Coet House following - - - its covid related hiatus. Mukabeles andin personpractices at Colet House now takeplace eachFriday. Members of thepublic who are interestedin thepractice are taught to slow turn on Friday evenings when there is not a Mukabele takingplace.

The Rumi&Friends Poetrygroup, under the leadership of Kim Richardson, andwiththe help of Christopher Head, has continuedon Zoom on the first Friday of the monthandhas also been wellattendedandhas built up a strong overseas following.

6.8 Movements to Music (DickLarcombe)

Movements classes recommencedin the Spring of theyear. However, theeffect of the pandemic was stillpresent, and classes weresoon suspended. They were re-startedin the Autumn, and continuedfor the rest of theyear. Numbers were small, but the moodwas positive andfriendly. The teachers, Rachel&DickLarcombe, are indebtedto Richard Womersley for his specialpianoplaying andhis wiseguidance.

6.9 Masnavi Groups (Yaver Abidi)

The RichardStevensgroup have continuedto meet weekly on Zoom following the move online during the 2020lockdown to study Mawlana Jelaluddin Rumi’s Masnavi.

As withothergroupspeople from a wide variety of cultural, religious andspiritual backgrounds attendthisgroup. They findpracticalandspiritualinsights in thisgreat work andthey also experience thejoy ofexploring this richlypoetic, subtle and, at times, playful masterpiece. Throughreading andmeditating on the writings of thisgreat sage, participants are able to reconnect withtheir own spirituality, whichever tradition they come from.

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6.10 Qi Gong (thrice weekly on Zoom) (Dan Brierley)

ChiKung translates roughly as(Chi)Breath(Kung) Work.

Inpractice ChiKung is agentle form of flowing exercises that combine breathing technique, rhythmic flowing movements, andmind(mentalFocus).

It is an art that has its roots in Taoism but has been influencedby thephilosophies of Buddhism andConfucianism. It isgenerally consideredto be an ancient form of exercise that - cultivates healthandwell being.

Teaching throughthe Covid/lockdown experience has been incredibly rewarding. Notjust having the opportunity to teachonline but also being able to reachso many morepeople. People who wouldn’t normally have come to class either because oflocation, health conditions or simply being isolated. My classes have been very wellattendedwhichis incredible. I have been able to reachso many morepeople throughzoom at this most difficult time.

Allthe feedback I have receivedhas been extremelypositive helping togivestudents a positive focus for the weeksupportingphysicalandmentalhealth. The simple act ofmoving andbreathing so vitalfor our healthis an incrediblypowerfultool. Through the classes The Study Society has been supporting andhelping some of the most vulnerable members of our community at a very difficult time. Amazing.

6.11 Himalayan Kriya Yoga (Cristina Berar)

Himalayan Kriya Yoga Classes have remainedonline only andhave built up a devoted following.

The class helps theparticipants withreleasing tension from the body, lettinggo of stress, achieving a state ofharmony while experiencing unique meditative states. The classes are assistedby music, andthey involve intuitive movement, breath, body locks andguided meditation.

6.12 Retreats

The Study Society helda three day retreat at Fintry attendedby 10members andfriends of the society. The retreat was ledby long term member andteacher Philip Marvin. Over the weekendparticipants enjoyedandbenefitedfrom sharedmeditation, smallstudygroups, mindfulexercise, andmusic andpoetry. Attendees reportedfeeling thoroughly restedand refreshed!

6.13 Reading the Record

In late 2022 a smallgroup formedto meet on Tuesdays in the Dr's Room at Colet House each Tuesday lunchtime to readThe Recordaloud, without interruption or commentary, andto meditate together.

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6.14 Sanskrit chanting

Gaiea Sanskrit began holding monthly vedic chanting at the society in September 2022. These beautifulsessions heldat Colet House were also open toparticipantsjoining online.

Throughsounding the ancient mantra, unchanged for thousands ofyears, thepilgrimage from headto heart is begun. It is apractice oflistening andsounding. There is no needfor intellect to engage any more than togive a refinement of attention andpresence. And gradually the sounds of the vedaspercolate thebeing, the room, the atmosphere, andbring about a stateofpeace.

6.15 Butoh

Dominique SavitriBonarjee began teaching Butoh at Colet Houe in January 2022 andthe classes were an immediate success. She continued to teachthroughout theyear andButoh has now become one of the core non-dualofferings at Colet House.

The class offers apathofembodiedinquiry into the self, spirit andsociety, aplace to think throughthe intellectuality of the body, to dance, andperhaps to discover new ways of being.

6.16 5 Rhythms

In late 2021Ajay Rajanitookup a residency at Colet House teaching the 5Rhythms Prayer where he inspires embodying the moment andallowingyour body to beyourgreatest teacher. The weekly classes continuedthroughout 2022andhaveproved consistently popular. In addition to the weekly evening classes Ajay also ran a number of immersive all day andweekendworkshops.

“ ” — The modern Western neurosis is the divorce of spirit from flesh. Gabrielle Roth

When we handoverprayer to thebody, our body can become our wisest teacher, showing us how to dance our innermost expression of life andsoul, andrevealing to us the often alltoo suppressedintelligence of thebody.

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6.17 Chi Kung

- Qigong in person at Colet House

In August 2022, I proposedto the managing director to move the Qigong class to Margravine Cemetery andto offer it for free to try to attract the local community. The attendance improved, some locals became regular students andthere wasgoodfeedback about the beauty ofpractising outdoors in close contact to nature andtheelements.

During the Open Day on 30thSeptember 2022, my workshop was very wellattendedand I hadlovely feedbackandinterest in classes from students. This translatedin somepeople buying thepackages of classes that were offeredon the day andagroup of about 5regular students. Althoughthings hadimproved, the number of students was stilllow andthere wasn’t any financialprofit for the Study Society. The class was at riskof disappearing for this reason. I proposedto the managing director ideas suchas running courses andthematic classes tosparkthe interest of thepublic. We implementedthese ideas since the beginning of 2023 and I amgladto say that things have improvedmassively since then.

Qigong online on Zoom

Throughout 2022DanielBrierley continuedto teachthree online classes a weekof ChiKung andSeatedChiKung via Zoom to his students. These classes are wellattendedandvalued. 6.18 Tai Chi

Opening thisyear's Tai chi class has startedto builda community of a wide range of ages andabilities being introducedto the timelesspractice. Manypeople hadheardof it but it's stillnot as wellknown andpractisedas Yoga. Many students haveexpressedfeeling the benefits of focusing and cultivating theelement of relaxation in action. A completely new discovery for many. Better sleep, less stress in their everyday lives andfor some of the more regulars that attendevery week, itprovides the stability of continuing anddeepening their practice. We lookforwardto steadily expanding thegroup.

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6.19 African Drum Circle

In late 2021we began offering a weekly African Drumming workshop thatgivesparticipants the chance to learn toplay the African “Djembe”Drum. Exploring the “bass, tone, slap” sounds of this instrument anddiscovering why African drumming is irresistible. The class is facilitatedby Djembedrummer extraordinaire Kay Smith, whose rhythmic skills are surpassedonly by her charming anddisarming charisma. Drumming is agreat way to release stress anddevelop creativity, andit’s also the oldest form of communalmusical bonding. During 2022 the classes movedto fortnightly.

6.20 Kirtan with ⇧árka Elias

– In 2022our monthly Kirtans with⇧árka Elias continued. Kirtan ispart of the BhaktiYoga Yoga of devotion andsurrender. ⇧árka’s songs incorporate Mantras, originalsongs as wellas Sacred/Medicine Songs from various cultures. Participants sing, chant, pray, meditate and expresspure happiness andjoy. ⇧árkaplays theguitar andthe harmonium andis accompaniedby musical friends including Ailon Freedman on Djembe and WillStreet on violin.

6.21 Playfulness

Ailon Freedman’s fortnightlyplayfulness sessions continuedthroughout 2022. Ailon writes: “Who says your spiritual practice needs to be serious? What if playfulness could become a - pathway towards self discovery and wholeness? We draw from the worlds of clowning, improv, mime and dance as well as spontaneous silliness and generalised irreverence. - Together, this unlikely cocktail leaves participants feeling joyous, open hearted and flooded with endorphins.”

6.22 Music as Medicine

Sivani Mata returnedtoColet House in 2022 after an hiatus of severalyears; an exploration - of Music as Medicine, these evenings offer a deep dive into the heart through co created song. They are a conversation withthat innerplace in eachone ofus that is ever unifiedwith everything in creation; apractice of communion withallthat is. In thegathered community participants sing Kirtan in the ancientpowerfullanguage of Sanskrit. Repeating simple mantras whichinvoke a trance-like state within, as wellas evoking the spirit of Bhakti: the moodof love. As wellas Sanskrit Kirtan there is an exploration of simple songs in other languages, thepoetry of the mystics andmoments of silence. Theseevenings are followedby a sharedmealandare regularly attendedby 200people.

6.23 Spiritual Gypsy - workshops and Kirtan

Nikjoinedthe Colet House community in 2022withmonthly or fortnightly creative workshops andkirtangatherings.

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NikParmar from SpiritualGypsy is a creative Bhaktiyogiwho loves toexplore andshare the ancient Eastern concepts of devotionalwellbeing, offering a mysticallifestyle basedon sacred culture andtimeless wisdom wrappedin modern relevance andspiritualjoy. His researchinterest is in Performance Ritualandhowpeople express their identity and connection to their senseofplace throughmusic, dance, storytelling andacross the arts. Nik creates bespoke wellbeing workshops basedon sacred, traditionalandhistoricallygrounded arts and crafts heritage of the Vedic traditions.

6.24 Notable Events and Meetings in 2022

Many of our specialevents andmeetings were heldonline as wellas inperson. We have not includedhere workshops or events listedabove.

March 20th Gong Bath with Pareena Khairdin March 26th Group Meditation gathering in support of Ukraine June 11th Green Man Ho! September 24th Colet House Open Day October 4th Thomas Phillips ran the London Marathon October 23rd Divali Celebration with Nik Parmar December 5th Celebration for HH Shantanand Saraswati with special guests December 10th Rupert Spira at Colet House December 11th The Cosmic Choir at Colet House December 16th Shebi Arus (Dervish festival)

6.25 Publications

The charitypublishes books under the Colet House Publications imprint. Currently available publications include Teachings of HHShantanandSaraswativolumes I and II, GoodCompany I andGoodCompany II, The Man Who Wantedto Meet God, Birth&Death, Voyage of Discovery andALasting Freedom.

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6.26 Photographs from the Colet House Open Day

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7. FINANCIAL REPORT

For the year ended 31 December 2022

Overview

2022 was again a challenging year for the charity. Although the overall income increased by £85k, mostly with the increase from the room hire since the Covid restrictions have been lifted, the charity suffered a loss of £176k. This was the result in a slight increase of £1k in expenditure to £333K compared to 2021 and investment losses of £146k.

The charity’s reserves policy stipulates that the charity’s reserves should be held at an amount equivalent to 1½ years’ annual expenditure. Based on 2022 annual expenditure the charity’s reserves should be £429k and the charity holds free reserves of £1,473k, ensuring the continuity of its operations.

The trustees continue to see the main financial tasks of the charity as diversifying and increasing

revenue from each source whilst investing in its staff and the resourcing needed for the Study Society to grow and prosper and exercising financial control on expenditure.

Income for 2022

Income from Donations and Legacies

many people who make significant regular donations to the charity.

of Normal Psychology, TSSNP, is a related party.

Income from Charitable Activities

Expenditure for 2022

Most of the charity’s expenditure is on staff costs and on the costs of running Colet House. Every year

a certain amount is spent on the general upkeep of the house.

Although the expenditure only increased by £1k, there is a increase in the major repairs £27k (83%) and £15k (40%) in building overhead which is compensated by the rates rebate of £41k. The rates rebates relates to the period from 2018-2023.

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Costs, where they are not directly attributable to an activity, are allocated across activities in proportion to an estimate of the use made of a group of expenses.

For example, staff costs (a group of expenses) – where they are not directly attributable - are allocated

to:

Note 6 to the accounts provide an analysis of expenditure for 2022 and a comparative of 2021 of how the charity’s funds were expended.

JARGON AND ACRONYMS

Consolidated accounts

The consolidated statement of financial activities, and the consolidated balance sheet add together the income and expenditure account of the charity and the profit and loss account of its trading subsidiary and the balance sheets of the charity and of its trading subsidiary to – present a single set of accounts as if for a single entity. Intercompany transactions such as – loans from a parent company to a subsidiary are eliminated as when the accounts are added together, they cancel each other out.

Income and expenditure

– As a charity, the Study Society does not produce a profit and loss account it is run to provide a public benefit, rather than to make a profit or avoid a loss. For this reason, charities show an income and expenditure account and a surplus or a deficit, not a profit and loss.

Restricted, unrestricted, and designated funds

– – The funds available to a charity its assets are divided into restricted funds, unrestricted (or general) funds, and designated funds. Restricted funds can only be spent on things that they were given to the charity to spend on. The trustees of a charity can spend its unrestricted (general) funds on anything, as long as the spending furthers the charity’s objects. Charity trustees designate funds for a purpose; they can, at any stage, undesignated those funds.

Acronyms

SOFA Statement Of Financial Activities

This shows the charity’s income and expenditure, and the result of the

’ – ’ charity s activities which is an increase or decrease in the charity s funds.

SORP Statement of Recommended Practice

The Charities SORP is a set of rules charity trustees are required to follow when reporting on the performance of charities. They summarise charity law

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and express what is agreed as best practice in areas such as when to account for legacy income, how to account for grants, and for expenditure funded by grants.

TSSC

The Study Society Charity

The current organisation. As a limited company it has its own assets which are managed, to achieve the charity’s objects for the public benefit, by its trustees.

TSSNP

The Society for the Study of Normal Psychology

This is a Friendly Society, and was the forerunner of the charity.

' 8. STATEMENT OF TRUSTEES RESPONSIBILITIES

The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Board of Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, and the provisions of the governing document. 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 Board of Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

21

In so far as the Trustees are aware

Auditors

This report was approved and authorised for issue by the Board of Trustees and signed on its behalf by:

Jonathan Leiserach …………………….…..

27 September 2023

22

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE STUDY SOCIETY

For the year ended 31 December 2022

Opinion

We have audited the financial statements of The Study Society for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

/Continued …

23

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE STUDY SOCIETY

For the year ended 31 December 2022

(Continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement in the Trustees' Report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.

/Continued …

24

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE STUDY SOCIETY

For the year ended 31 December 2022

(Continued)

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

/Continued …

25

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE STUDY SOCIETY

For the year ended 31 December 2022

(Continued)

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken, so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Shoaib Arshad (Senior Statutory Auditor)

For and on behalf of:

Knox Cropper LLP

Chartered Accountants and Statutory Auditors

65 Leadenhall Street

London EC3A 2AD

____ September 2023

26

THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating the Income and Expenditure account)

For the year ended 31 December 2022

Note
INCOME FROM:
Donations and legacies
2
Donations from TSSNP
3
Charitable activities
4
Investments
5
TOTALINCOME
EXPENDITURE ON:
Raising funds
Investment management costs
Charitable activities
TOTALEXEPENDITURE
6
Net income / (expenditure) before
gains and losses on investments
Net (losses)/gains on investments
11
Net income / (expenditure)
Transfer between funds
17
Net incoming / (outgoing)
resources before other recognised
gains and losses
RECONCILIATION OF FUNDS:
Total funds at 1 January 2022
TOTALFUNDS AT 31 December 2022		 Unrestricted
Funds
2022
£
54,572
13,812
209,082
25,343		 Designated
Funds
2022
£
-
-
-
-		 Total Unrestricted
Funds
Funds
2022
2021
£
£
54,572
89,802
13,812
-
209,082
117,108
25,343
11,110		 Designated
Total
Funds
Funds
2021
2021
£
£
-
89,802
-
-
-
117,108
-
11,110
302,809 - 302,809
218,020		 -
218,020
24,870
261,220		 -
47,343		 24,870
28,948
308,563
258,474		 -
28,948
44,975
303,449
286,090 47,343 333,433
287,422		 44,975
332,397
16,719
(145,800)		 (47,343)
-		 (30,624)
(69,402)
(145,800)
96,032		 (44,975)
(114,377)
-
96,032
(129,081)
11,481		 (47,343)
(11,481)		 (176,424)
26,630
-
(5,031)		 (44,975)
(18,345)
5,031
-
(117,600)
1,590,796		 (58,824)
3,946,341		 (176,424)
21,599
5,537,137
1,569,197		 (39,944)
(18,345)
3,986,285
5,555,482
1,473,196 3,887,517 5,360,713
1,590,796		 3,946,341
5,537,137
-

27

THE STUDY SOCIETY (company by guarantee) (regsitered company no. 07034627)

BALANCE SHEET

As at December 2022

Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Stock
12
Debtors
13
Cash at bank and in hand
CREDITORS: amountsfalling due
within one year
14
FUNDS
Unrestricted funds:
Designated funds
15
General funds
15		 £
12,388
94,539
42,463
149,390
(8,553)		 2022
£
3,887,518
1,332,358
5,219,876
140,837
5,360,713
3,887,517
1,473,196
5,360,713		 £
12,388
13,785
83,774
109,947
(11,617)		 2021
£
3,925,787
1,513,020
5,438,807
98,330
5,537,137
3,946,341
1,590,796
5,537,137

The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies and the Financial Reporting Standard 102. The financial statements were approved, and authorised for issue, by the Board of Trustees on ___27 September 2023 and signed on their behalf by:-

Jonathan Leiserach

28

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

CASH FLOW STATEMENT

For the year ended 31 December 2022

Cash flowsfrom operating activities
(Deficit) for the financial year
Adjustments for:
Losses/(gains) on investments
Depreciation
Decrease in stocks
Decrease/(increase) in debtors
Decrease/(increase) in receivables
Increase/(decrease) in creditors
Investment income
Cash flowsfrom investing activities
Purchase of investments
Fixed assets acquired
Return on investment
Proceeds from sale of investments
Net (decrease) in cash and cash equivalents
Cash and cash equivalents at 1 January
Componentsof cash and cash equivalents
Cash at bank and in hand
Cash held with investment managers
ANALYSIS OF CHANGES IN NET DEBT
Cash and cash equivalents at 1 January 2022
Cashflows during the year
Cash and cash equivalents at 31 December 2022
Cash and cash equivalentsat 31 December		 2022
£
(176,424)
145,800
47,343
-
(80,754)
-
(3,064)
(25,343)
(92,442)
-
(9,074)
25,343
34,863
51,132
(41,310)
83,774
42,463
26,637
15,826
42,463
Cash
£
83,774
(41,311)
42,463		 2021
£
(18,345)
(96,032)
44,975
(2,188)
17,353
856,240
2,942
(11,110)
793,835
(1,454,258)
(5,031)
11,110
527,866
(920,313)
(126,478)
210,252
83,774
£
77,436
6,338
83,774
Cash
equivalents
£
180,815
(103,379)
77,436

29

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

1. ACCOUNTING POLICIES

Basis ofpreparation of financial statements

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets, and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2019), preparing these accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011. The presentational currency of the financial statements is Pound Sterling (£).

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Company status

The Study Society is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Donated services are included in income at a valuation which is an estimate where such a cost is quantifiable and measurable.

Income tax recoverable in relation to investment income or Gift Aid donations is recognised at the time the relevant income is receivable.

Resources Expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Support costs, which cannot be directly attributed to particular activities, have been apportioned proportionately to the direct staff costs allocated to the activities. Governance costs include the costs of servicing Trustees' meetings, audit and strategic planning.

30

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

Tangible fixed assets anddepreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Furniture and equipment 4 years
Land is not depreciated while building are depreciated on component basis as below:
Fabric of building 100 years
Kitchen 50 years
Bath/toilets 25 years
Electric and heating 25 years

Stocks

Stock is valued at the lower of cost and net realisable value.

  1. DONATIONS AND LEGACIES
2.
DONATIONS ANDLEGACIES
Donations
Legacies
Subscriptions
3.
DONATIONS FROM TSSNP
Other net current assets		 Unrestricted
Funds
2022
£
19,858
2,000
32,714
54,572
£
Unrestricted
Funds
2022
£
13,812
13,812
£		 Designated
Funds
2022
£
-
-
-
Nil
£
Designated
Funds
2022
£
-
Nil
£		 Total
Funds
2022
£
19,858
2,000
32,714
54,572
£
Total
Funds
2022
£
13,812
13,812
£		 Total
Funds
2021
£
61,187
4,288
24,327
89,802
£
Total
Funds
2021
£
-
Nil
£

The Society for the Study of Normal Psychology transferred funds in 2015 as part of the transfer of operations from the Friendly Society to the registered charity. Further transfers were made in 2016 and in 2019. Total amount due from TSSNP as at 31 December 2022 is £17,000 as showin in notes 13 & 18.

31

THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

  1. INCOME FROM CHARITABLE ACTIVITIES
4.
INCOME FROM CHARITABLE ACTIVITIES
Classes and activities
Room hire
Publications
5.
INVESTMENT INCOME
Dividends and interest
6.
ANALYSIS OF EXPENDITURE
Staff costs
£
Cost of charitable activities:
Classes and activities
112,110
Room hire to other
charities
10,510
Publications
3,503
Total charitable
expenditure
126,123
Investment management
costs
14,014
140,137
£
COMPARATIVE ANALYSIS OF EXPENDITURE
Staffcosts
£
Cost ofcharitable activities:
Classes and activities
118,282
Room hire to other
charities
11,089
Publications
3,696
Totalcharitable
expenditure
133,067
Investment management
costs
14,785
147,852
£		 Unrestricted
Funds
2022
£
23,648
177,697
7,737
209,082
£
Unrestricted
Funds
2022
£
25,343
25,343
£
Other direct
costs
£
24,816
-
3,000
27,816
-
27,816
£
Other direct
costs
£
13,316
-
1,871
15,187
3,207
18,394
£
32		 Designated
Funds
2022
£
-
-
-
Nil
£
Designated
Funds
2022
£
-
Nil
£
Support costs
£
29,006
125,082
536
154,624
10,856
165,480
£
Supportcosts
£
30,348
124,272
575
155,195
10,956
166,151
£		 Total
Funds
2022
£
23,648
177,697
7,737
209,082
£
Total
Funds
2022
£
25,343
25,343
£
Total 2022
£
165,932
135,592
7,039
308,563
24,870
333,433
£		 Total
Funds
2021
£
7,250
97,917
11,941
117,108
£
Total
Funds
2021
£
11,110
11,110
£
Total 2021
£
161,946
135,361
6,142
303,449
28,948
332,397
£
Total 2021
£
161,946
135,361
6,142
303,449
28,948
332,397
£

THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

6. ANALYSIS OF EXPENDITURE (continued)

Resources expended include:
2022 2021
Auditors remuneration (including VAT)
Audit fee 5,064 4,714
Other services 1,250 1,250
Depreciation 47,343 44,975
Details of staff costs are given in Note 8.
Details of Support costs are given in Note 7.
7. SUPPORT COSTS
Total Total
2022 2021
£ £
IT costs 7,110 9,045
Governance costs 7,164 6,972
Office overheads 31,814 34,470
Building depreciation 47,343 44,975
Building costs - major repairs 60,874 33,316
Building overheads - others 11,178 37,371
£ 165,483
 £ 166,149
8. STAFF NUMBERS AND COSTS
2022 2021
£ £
Wages and salaries 123,543 131,478
Social security costs 12,947 12,546
Pension 3,647 3,828
Other staff costs - -
£ 140,137
 £ 147,852
Other staff costs in the year include redundancy payments of £Nil (2021:£1,893) to a staff member.
The average weekly number of employees (head count) during the period was: Number Number
Room hire to other charities 1 1
Support costs 3 3
4 4
No employee received remuneration of more than £60,000.

33

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

  1. TRUSTEES REMUNERATION AND BENEFITS

The Trustees are responsible for planning, directing and controlling the activities of the charity. During the year, no members of the Board of Trustees received any remuneration (2021 - £NIL) in their capacity as Trustees. No members of the Board of Trustees received reimbursement of expenses for travel and meeting costs (2021 - £Nil).

10. TANGIBLE FIXED ASSETS

Costs
At 31 December 2021
Additions during the year
As at 31 December 2022
Depreciation
At 31 December 2021
Charge for the year
As at 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Land and
buildings
£
4,213,200
-
4,213,200
294,924
42,132
337,056
3,876,144
£
3,918,276
£		 Furniture and
equipment
£
15,676
9,074
24,750
8,165
5,211
13,376
11,374
£
7,511
£		 Total
£
4,228,876
9,074
4,237,950
303,089
47,343
350,432
3,887,518
£
3,925,787
£

34

THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

11. FIXED ASSETS INVESTMENTS

11. FIXED ASSETS INVESTMENTS
Analysed as follows:
Quoted investments held
Market value of quoted investments
At 1 January 2022
Additions
Disposals proceeds
Gains / (losses) on investments
At 31 December 2022
Quoted investmentscomprise
UK Equity
Diversified investment funds
12. Stock
Publications
13. DEBTORS
Due within one year
Trade debtors
Prepayments and accrued income
Other debtors		 2022
£
1,332,358
1,332,358
£
1,513,020
-
(34,863)
(145,800)
1,332,358
£
302,680
1,029,678
1,332,358
£
2022
£
12,388
12,388
£
2022
£
27,963
49,576
17,000
94,539
£		 2021
£
1,513,020
1,513,020
£
490,596
1,454,258
(527,866)
96,032
1,513,020
£
330,175
1,182,845
1,513,020
£
2021
£
12,388
12,388
£
2021
£
7,265
3,332
3,188
13,785
£

35

THE STUDY SOCIETY (Company limited by guarantee no. 07034627, registered charity no. 1155498)

For the year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social security and other taxes
Pension
Accruals
STATEMENT OF FUNDS
Incoming
Brought
Resources
Forward
and Gains
£
£
DESIGNATED FUNDS
Colet House Property Fund
3,918,276
-
Furniture and Equipment
Fund
7,510
-
Chairman's Fund
20,555
-
3,946,341
£
Nil
£
SUMMARY OF FUNDS
Designated Funds
3,946,341
-
General Funds
1,590,796
157,009
5,537,137
£
157,009
£
Comparativestatement of funds
Incoming
Brought
Resources
Forward
and Gains
£
£
DESIGNATED FUNDS
Colet House Property Fund
3,960,408
-
Furniture and Equipment
Fund
5,322
-
Chairman's Fund
20,555
-
3,986,285
£
Nil
£
The designated fund represents funds for Colet House Building
activities.		 2022
2021
£
£
2,196
4,677
276
859
6,081
6,081
8,553
£
11,617
£
Resources
Carried
Expended
Transfers
Forward
£
£
£
(42,132)
-
3,876,144
(5,211)
9,074
11,373
-
(20,555)
-
(47,343)
£
(11,481)
£
3,887,517
£
(47,343)
(11,481)
3,887,517
(286,090)
11,481
1,473,196
(333,433)
£
-
5,360,713
£
Resources
Carried
Expended
Transfers
Forward
£
£
£
(42,132)
-
3,918,276
(2,843)
5,031
7,510
-
-
20,555
(44,975)
£
5,031
£
3,946,341
£
is maintained to keep the focus on the regular		 2021
£
4,677
859
6,081
11,617
£
Carried
Forward
£
3,876,144
11,373
-
3,887,517
£
3,887,517
1,473,196
5,360,713
£
3,946,341
£

15. STATEMENT OF FUNDS

36

THE STUDY SOCIETY

(Company limited by guarantee no. 07034627, registered charity no. 1155498)

For the year ended 31 December 2022

NOTES TO THE FINANCIAL STATEMENTS

15. STATEMENT OF FUNDS (continued)

SUMMARY OF FUNDS
Designated Funds
General Funds		 3,986,285
1,569,197
5,555,482
£		 -
314,052
314,052
£		 (44,975)
(287,422)
(332,397)
£		 5,031
(5,031)
-		 3,946,341
1,590,796
5,537,137
£

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Funds
Designated
General
Funds
Funds
£
£
Fixed assets
3,876,144
1,343,732
Net current assets
11,373
129,464
3,887,517
£
1,473,196
£
Comparative analysisof net assetsbetween funds
Unrestricted Funds
Designated
General
Funds
Funds
£
£
Fixed assets
3,918,276
1,520,531
Netcurrent assets
28,065
70,265
3,946,341
£
1,590,796
£
OTHER FINANCIALCOMMITMENTS
2022
£
Operating leases which expire:
within one year
1,872
At 31 December 2022 the Company had total commitments under non-		 Total
Funds
£
5,219,876
140,837
5,360,713
£
Total
Funds
£
5,438,807
98,330
5,537,137
£
2021
£
1,872

17. OTHER FINANCIAL COMMITMENTS

  1. RELATED PARTY TRANSACTIONS

The Society for the Study of Normal Psychology, TSSNP, is a related party that owed £17,000 (2020: £3,188) to the Study Society. During the year TSSNP donated net current assets of £13,812 (2021: £nil) to the Study Society (see note 5).

Henery Phillips, an employee, is a brother of the Managing Director, Thomas Phillips.

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