DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E Charity Registration No. 1174716 | ## THE LUNAR SOCIETY # ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 | DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E : ; : : ¢ | ## THE LUNAR SOCIETY ## LEGAL AND ADMINISTRATIVE INFORMATION ## Trustees D LaBassiere P Borg-Bartolo M Purcell S Guy The Right Honourable J Smith C Stone C S Burton D Dundas O Brown (resigned 14” Dec 2020) P Mayer (co-opted) J Rainford (co-opted) F Anderson (co-opted) ## Charity number ## 1174716 ## Independent examiner Thomas & Young Limited Carleton House 266-268 Stratford Road Shirley Solihull B90 3AD | DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658ECSE - ; ## THE LUNAR SOCIETY ## CONTENTS ||Page| |---|---| |Trustees' report|1-4| |Independent examiner's report|5| |Statement offinancial activities|6| |Balance sheet|7| |Notestothefinancialstatements|8-12| DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E i | ! : | | | | ## | THE LUNAR SOCIETY : TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021 ## The trustees present their report and financial statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Charities Act 2011 and "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 2019)". ## Objectives and activities As set out in the Charity’s Constitution, its objects are the advancement of education of the inhabitants of Birmingham and the surrounding region by promoting and educating in, and among other topics, the study of science, the economy, culture, conservation and the environment, local and social issues and science. ## It delivers lectures, seminars, meetings and debates by experts in their field. In shaping the objectives for the year and planning activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance ‘Public Benefit: running a charity (PB2)’. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## Achievements and performance 2020/21 was not a year that any of us would wish to live through again, but with careful planning and much effort we have maintained and fulfilled our Objectives during the course of the year with a busy series of meetings and discussions, helpfully facilitated through the medium of Zoom webinars. With the pandemic impacting so significantly on society and indeed on many of our members and supporters, the Executive Committee supported the proposal for all our on-line events to be free to access — thereby performing a valuable social role in maintaining contact and achieving dialogue and discussion. We are particularly grateful to the membership for their support during this most challenging of periods and for their continued loyalty which is greatly appreciated. Despite the pandemic therefore, we continued to hold robust and engaging presentations, discussions and debates on a variety of pertinent topics including those with long-term implications such as the environment and meeting climate goals (through our Boulton and Watt series of lectures) and shorter-term issues relating to the immediate impact of the pandemic. Our events attracted a wider audience than previously and significantly, we engaged with both younger people and also those overseas — all aided by the virtual format. Those without internet access also joined us by traditional phone — a feature of the Zoom platform that enabled wider reach. Our events and discussions have been diverse. ; We commemorated Black History Month and provided a forum to examine and debate current issues and to help develop a wider understanding of Black history, including the roles of the original Lunar men. Our Black In...Series covered four areas — Health, Politics, Law, and innovation - celebrated Black contributions to British society including those by the eminent panellists. -1- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E | | ' ; : | ; | ; | ## THE LUNAR SOCIETY TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Our Sir Adrian Cadbury Lecture presented the outcome of the Governance Inquiry and launched Karl George MBE's Race Equality Code 2020 which has been successfully adopted by organisations across the UK including Birmingham City Council and is also embedded in the National Housing Federation’s new Code of Governance 2020 for Housing Associations in England & Wales. We thank the Rt. Hon. Liam Byrne for delivering the principal address and we are grateful to Aston University and the George Cadbury Fund for supporting the Lecture, now in its fourth year. Homelessness is not just for Christmas... was a timely consideration of issues that face the homeless and the charities and organisations that support them. In an event titled How can we enable children from disadvantaged backgrounds achieve their full potential? we turned our attention to our children, their education and those disadvantaged amongst them, particularly in light of the gross inequalities highlighted as a result of the COVID19 pandemic. Ageing Well In Birmingham highlighted the issue that despite Birmingham being one of the youngest cities in Europe, the increasing older population has major health and social care needs, exacerbated by the COVID19 pandemic. We also explored the accelerated implementation and collaboration of new cross-sector partnership working. In a historic first, we also hosted a speaker live from the United States of America addressing the Lunar Society members in the UK in an exclusive talk by eminent historian and author Anton Chaitkin FTLS. Franklin, Lunar and America’s fight for universal progress included evidence to make the case that Benjamin Franklin, the American scientist and statesman, inspired and was inspired by the Eighteenth-Century Lunar Society. Lunar Society Fellow and Executive Committee Member, David Dundas also spoke as part of the Boulton and Watt series of Lectures looking at the role of Nuclear energy in a fossil fuel free environment and examined the two types of nuclear power. Sadly, in October 2020, The Lunar Society lost one of our leading lights in Dame Rachel Waterhouse DBE, the first Chair of the newly constituted Lunar Society, who was a great consumer champion, proponent of women’s tights and the first recipient of the Lunar Medal in 2006. We took the opportunity to honour her memory at an engaging and lively discussion, Choose to Challenge — Women in the frontline. Looking to the future, the pandemic has sharpened the need for an apolitical, community-wide forum capable of discussing and developing ideas to enable society to respond to a post-COVID-19 world. In consequence, we are planning more in-person activities including our annual Boulton and Watt Lecture, The Annual Sir Adrian Cadbury Lecture and the Annual Dinner. The modern-day Lunar Society will mark its 30th Anniversary in 2022 (financial year end March 2023) providing a landmark opportunity to focus attention on its work, activities and achievements. This is very much aligned to the fact that no other membership organisation in the Midlands has such a broad representation within its membership not linked to any affiliation or cause, making us a unique and diverse melting pot that truly engages in diversity of thought at all levels. All these initiatives have been spearheaded by our inspiring Executive Committee, and by many of you — Society Fellows, Associates and Corporate Members — with the support of our secretariat, Clarke Associates. | must, of course, thank all our dynamic speakers, participants, sponsors and members, without whom we would not have achieved our success. We have all acted with one belief - which is to further the aims of the original Lunar men and to build upon the great work of the founders of the reconstituted Lunar Society to ensure that in this 21st century we are creating our own legacy for a space for stimulating ideas, broadening debate and catalysing action in a meaningful way for society. | look forward to the Lunar Society's continued success. Deirdre LaBassiere LL.B Hons FTLS, Chair, The LunarSociety -2- | DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658ECS5E : Financial review : As with many other organisations, the year has proved financially challenging, but The Lunar Society has taken the opportunity to look forward and provide a sustainable future. ; The lack of in-person events resulted in our being unable to deliver certain keynote events that would usually : attract significant sponsorship, including the Annual Dinner which normally produces a healthy surplus. Satisfyingly, membership subscriptions levels were resilient and, in part as a result of extending our reach through on-line activities, we stabilised during the year albeit that the subscription mix has changed with an : increase in the number of Associates and a very small decline in the number of Fellows — resulting in a small decline in subscription revenue. We benefited from the awarding of a a Heritage Fund Grant in relation to Covid-19 which enabled the funding and : development of a a three-year business plan for the Society and which clearly sets out the steps that are required to ensure the Society's growth and development. . Finally, during the course of the the year, the Society was successful in being recognised by HMRC as a charity for tax purposes. The confirmation arrived just a few few days ahead of the the financial year-end and so its significance will : not be felt until the following financial year but steps are being taken that will enable the Society to recover Gift : ## THE LUNAR SOCIETY TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Satisfyingly, membership subscriptions levels were resilient and, in part as a result of extending our reach through on-line activities, we stabilised during the year albeit that the subscription mix has changed with an increase in the number of Associates and a very small decline in the number of Fellows — resulting in a small decline in subscription revenue. We benefited from the awarding of a a Heritage Fund Grant in relation to Covid-19 which enabled the funding and development of a a three-year business plan for the Society and which clearly sets out the steps that are required to ensure the Society's growth and development. Finally, during the course of the the year, the Society was successful in being recognised by HMRC as a charity for tax purposes. The confirmation arrived just a few few days ahead of the the financial year-end and so its significance will not be felt until the following financial year but steps are being taken that will enable the Society to recover Gift Aid for previous years and this will result in a welcome additional income stream. Current free reserves at the year-end amount to £8,538. The policy agreed by Trustees is to hold sufficient reserves to cover a potential decline in subscriptions of around £4,000 (being around 20% of membership fees). Reserves held over and above the agreed policy will be invested in future years in the activities of the Charity and in making its income streams sustainable for the future. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structure, governance and management The Lunar Society is an unincorporated association of its members and was registered as a charity on 19 September 2017. It is governed by its Constitution adopted on 19 July 2016 and subsequently amended on 7 August 2017. The trustees who served during the year and up to the date of signature of the financial statements were as follows. D LaBassiere Co-opted trustees: P Borg-Bartolo P Mayer M Purcell J Rainford S Guy F Anderson The Right Honourable J Smith C Stone C S$ Burton D Dundas O Brown (resigned 14" December 2020) New Trustees are appointed by invitation to join the Board following their election at The Annual General Meeting given that they have the necessary skills and experience to contribute to the Society’s activities and to be able to discharge their obligations as Trustees. : The Trustees delegate the day to day running and administering of the Charity and its activities to Clarke Associates UK Limited, who are responsible for the management of events along with the marketing, public relations, secretarial and administrative duties. -3- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E | | | ## THE LUNAR SOCIETY ## TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 The trustees’ report was approved by the Board of Trustees. > TrusteeDated: AAA -4- . DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E : | : : | ; : . : ## THE LUNAR SOCIETY ## INDEPENDENT EXAMINER'S REPORT ## TO THE TRUSTEES OF THE LUNAR SOCIETY | report to the trustees on my examination of the financial statements of The Lunar Society (the charity) for the year ended 31 March 2021. ## Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). ! report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## Independent examiner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. | understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 ___ the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mark McLean FCA, on behalf of Thomas & Young Limited ## Carleton House 266-268 Stratford Road Shirley Solihull B90 3AD Dated: solar -5- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E | : | : : 1 | ## THE LUNAR SOCIETY ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT ## FOR THE YEAR ENDED 31 MARCH 2021 |||Unrestricted|Unrestricted|Restricted|Total| |---|---|---|---|---|---| |||funds|funds|funds|| |||2021|2020|2020|2020| ||Notes|£|£|£|£| |Income from:|||||| |Donations and legacies|3|28,302|19,262|60,250|79,512| |Charitable activities|4|3,334|4,448|-|4,448| |Totalincome||31,636|23,710|60,250|83,960| |Expenditure on:|||||| |Charitable activities|5|35,692|26,478|101,131|127,609| |Netexpenditure forthe year/|||||| |Netmovement infunds||(4,056)|(2,768)|(40,881)|(43,649)| |Fund balances at 1 April 2020||15,594|18,362|40,881|59,243| |Fundbalancesat31March2021||11,538|15,594|-|15,594| | The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. -6- DocuSign Envelope 1D: BB25444C-1E9A-483B-A263-DEEE8658EC5E | | | ## THE LUNAR SOCIETY ## BALANCE SHEET ## AS AT 31 MARCH 2021 : |||2021||2020|| |---|---|---|---|---|---| ||Notes|£|£|£|£| |Fixed assets|||||| |Investments|8||3,000||3,000| |Current assets|||||| |Debtors|9|1,233||977|| |Cash at bankand in hand||18,186||26,365|| |||19,419||27,342|| |Creditors: amounts falling duewithin|||||| |oneyear|10|(10,881)||(14,748)|| |Net current assets|||8,538||12,594| |Totalassets less current liabilities|||11,538||15,594| |Income funds|||||| |Unrestricted funds|||11,538||15,594| ||||11,538||15,594| The financial statements were approved by the Trustees on \la\ty D LaBassiere Trustee _7- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E 7 7 ## . THE LUNAR SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 1 Accounting policies ## Charity information The Lunar Society is an unincorporated association, governed by its constitution adopted on 19 July 2016 and subsequently amended on 7 August 2017. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. - 1.2 Going concern | At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. -8- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E | ; i | : : : ; : ## THE LUNAR SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 - 1 Accounting policies Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Irrecoverable VAT is allocated to the expense heading to which it relates in accordance with standard accounting practice. 1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 1.8 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price untess the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. _9- DocuSign Envelope ID: BB25444C-1ESA-483B-A263-DEEE8658EC5E ## THE LUNAR SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 MARCH 2021 ## 1 Accounting policies ## Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## 2 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## 3 Donations and legacies |||Unrestricted|Unrestricted|Restricted|Total| |---|---|---|---|---|---| |||funds|funds|funds|| |||2021|2020|2020|2020| |||£|£|£|£| ||Grants receivable|9,300|-|60,250|60,250| ||Membershipfees|19,002|19,262|-|19,262| |4|Charitable activities||||| |||||Grants
received|Grants
received| |||||2021|2020| |||||£|£| ||Meetingsandevents|||3,334|4,448| ~10- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E : | ; : :: ## THE LUNAR SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 MARCH 2021 ## 5 Charitable activities ||2021|2020| |---|---|---| ||£|£| |Meetingsandevents|-|1,153| |Management and administration|22,351|24,575| |Govemance|1,044|750| |Project costs|12,297|101,131| ||35,692|127,609| ||35,692|127,609| |Analysis byfund||| |Unrestricted funds|35,692|26,478| |Restrictedfunds|-|101,131| ## 6 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## 7 Employees The average monthly number of employees during the year was: |||2021|2020| |---|---|---|---| |||Number|Number| ||Total|.|-| |8|Fixedassetinvestments||| ||||Social| ||||investment| ||||£| ||Cost orvaluation||| ||At 1 April2020&31 March 2021||3,000| ||Carrying amount||| ||At 31 March 2021||3,000| ||At31March2020||3,000| -11- DocuSign Envelope ID: BB25444C-1E9A-483B-A263-DEEE8658EC5E ## THE LUNAR SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 MARCH 2021 **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |9|Debtors| |2021|2020| |Amounts|falling|due within|one|year:|£|£| |Other|debtors|1,025|625| |Prepayments|208|352| |1,233|977| |10|Creditors:|amounts|falling|due within|one year| |2021|2020| |Notes|£|£| |Deferred|income|1|6,000|3,334| |Trade|creditors|-|10,664| |Accruals|4,881|750| |10,881|14,748| |11|Deferred|income| |2021|2020| |£|£| |Other deferred|income|6,000|3,334| **----- End of picture text -----**
Deferred income relates to a grant for activities which will take place in future periods. ## 12. Related party transactions There were no disclosable related party transactions during the year (2020 - none). eee -12-