Charity registration number 1174716
THE LUNAR SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
THE LUNAR SOCIETY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees C Stone (Appointed 18 July 2023) D LaBassiere C S Burton D Dundas A Ali A Taylor R Sharif (Appointed 18 July 2023) J Gaytten (Appointed 18 July 2023) P Mayer - co-opted J Rainford - co-opted Charity number 1174716 Independent examiner Thomas & Young Limited Carleton House 266-268 Stratford Road Shirley Solihull B90 3AD
THE LUNAR SOCIETY
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
THE LUNAR SOCIETY
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
Although this is titled the Trustees' report, this report is the collective thoughts from your Chair (Clive Stone), Treasurer (Joe Gaytten), Honorary Secretary (Charmaine Burton), and Past Chair of the Executive Board of Trustees and current trustee (Deirdre LaBassiere).
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 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)".
Objectives and activities
As set out in the Charity’s Constitution, its objectives 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)’.
Achievements and performance
Significant activities and achievements against objectives
Our newsletters over the past 12 months (edited by the Director of the Lunar Society, Dr Jo Horton) have detailed the highly significant speaking engagements, lectures and discussion events and other activities such as the reinstated Annual Dinner, garden parties and networking opportunities that have taken place since the AGM of 2023. These are all part of the Programme Working Party’s remit, and a key benefit of membership.
We would like to express our thanks to all of our trustees, members, patrons, and sponsors who have supported us in their suggestions, connecting with speakers, physical venues, and IT expertise. In addition, we would like to thank those trustees, members and fellows who have not only spoken at other events and attended key regional meetings on our behalf but contributed so wonderfully at our programme of events.
By the time of our AGM, we will know the outcome of the general election. As apolitical organisation we have been slightly restricted with some activities. That is not the case with our incredibly well attended and supported Hustings, our thanks go to Charmaine Burton who organised, with no notice, 2 Hustings for Metro-Mayoral and Police Crime Commissioner and 1 General Election Husting.
Our National Lottery Heritage Funded project which undertook over thirty-three events and activities with a budget of £90,000. was completed on time and on budget. The project has provided a powerful legacy for the Society. A 32-minute film on the future of the Commonwealth, excellent booklet ‘Heritage for the Future’ (led by Past Chair Peter Mayer and Immediate Past Chair Dr Peter Borg-Bartolo), and strong relationships with many existing contacts and new organisations were some of the outcomes of the project.
Our thanks go to Chris Rice and Irene de Boo for their tireless and successful work on the project and Deirdre LaBassiere for leading on behalf of the Executive Board of Trustees.
The launch of both the film and the booklet are important and are being discussed and implemented in the next few months, with Sir Michael Lyons (author of the introduction) Chairing the Annual Dinner in September. An ideal opportunity to begin the launch the booklet.
Secretariat
We would like to recognise and thank Dr Jo Horton (JH) and Wendy Meakin (WM), our Secretariat. The volume of work and dedication shown by them both is incredible. They have been a major factor in the success of the Lunar Society over the last 12 months. We also would like to recognise the various working groups who have made such a significant impact on our events and projects.
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THE LUNAR SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure
Earlier this year Tina Swani, Vice Chair stood down from the Executive Board of Trustees and therefore we are without a Vice Chair at this moment in time. This is an important position for succession planning, and we now need to fill this vacancy.
Our Immediate past Chair Dr Peter Borg-Bartolo has remained active on the Climate Change Working Party but has stood down from the Executive Board of Trustees (EBT) for personal/health reasons.
This has resulted in two vacancies for trustees prior to the AGM (unexpired terms) on the Executive Board of Trustees. As per our constitution we sought applications from our membership, and we received five exceptional applications. In line with our current constitution, we were able to appoint two of the candidates (Dr Jonathan Green and David Searle) to take over the roles in a temporary capacity. Both of them will be seeking election at the Annual General Meeting (AGM). Opportunities were offered to the remaining three candidates to join a suitable working party and contribute their considerable skills to the Lunar Society.
In addition, sadly Atif Ali does not wish to seek re-election as a trustee, which gives us an additional vacancy at this AGM. Our sincere thanks go to Atif for his support to the Executive Board of Trustees and the Society in general, he will be much missed. It is always a sign of a healthy organisation when there are more candidates than vacancies and this is likely to be the case at this AGM.
Membership
The most important issue that this report covers is membership and the sustainability of the Society. Whilst the Society has been successful in recruiting new members the sad fact is that we have not retained all of our existing members and therefore are remaining static. The most recent membership survey (2022) and feedback from members revealed that: 1) members have incredibly broad interests, 2) they highly value networking events, 3) the Annual Dinner is a key event as are the Sir Adrian Cadbury and Boulton & Watt Lectures and 4) members want more direct engagement with the Executive Board of Trustees. We have sought members feedback yet again this year with our 2024 Membership Survey and we will update you with the results as soon as we can.
Conclusion and the Way Forward
All these points have been noted and are being further actioned by the Executive Board of Trustees and the Secretariat however to fulfil members expectations and very individual interests,’ membership fees (that feed the programme of activities) need to grow. As do our separately funded projects and the associated social media campaigns that the Secretariat have enthusiastically instigated over the past year.
The Executive Board of Trustees is aware that to create sustainability it has to identify and attract patrons providing they share the same values as the Society. We have been successful in recruiting two patrons; being Pertemps and PHTA and are in discussions with several others. Our aim is to attract 5/6 more patrons with an overall contribution to the Society of £50K+ per year. However, each patron is likely to desire a limited number (2/3) events a year. These events must be compliant with our objectives and business plans.
We believe that if we are going to retain the new members we are attracting and our patrons; the Society needs to increase from an average of one event a month to three/four. This increased number of events will require additional resources to organise and plan.
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THE LUNAR SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
To this end at the May Executive Board of Trustees meeting we agreed to recruit a part time Event Co-ordinator who would work the equivalent of one third, or 6/7 days, a month. The Programme Committee will provide the Event Coordinator with their selected speakers and, at this stage it is anticipated that our current Secretariat would continue to manage the online booking system. It is our opinion that if we have one individual solely focused on running (4) events on four half days a month and 4/5 days to focus on event coordination, this would be realistic. The issue of course is finance, this position would require an expenditure of circa £10K which we do not currently have We are hopeful that we will gain at least one new £10K patron within the next three/four months which will provide the additional revenue to support this position.
The Lunar Society as a Charitable Incorporated Organisation (CIO)
We anticipate that thanks to the support of VWV Ltd and the work of our Immediate Past Chair Dr Peter BorgBartolo we will change our status to Charitable Incorporated Organisation (CIO) by Autumn 2024, with the completed application submitted in June 2024.
Financial review
This year has been another challenging one for the Lunar Society, but we have continued to look at how we can continue and have a sustainable future.
The Lunar Society held live and hybrid events this year attracting over 700 attendees in person and 110 online (compared to 645 attendees last year, an increase of 165). These events resulted in ticket sales of £5,793. In addition, recordings of the events are also being charged for if required.
The Annual Dinner took place in September 2023 and resulted in ticket sales of £7,265.00 and sponsorship of £5,500. The event was a huge success and is a big fundraiser for the society. It will be held again this September and will be an annual event.
The Lunar Society created a donation link for events and its website, and this has proven successful with donations being made of £484.
Subscription levels remained resilient throughout the year. Current Lunar Society membership stands at 164, the majority being Fellows, one hundred and three (103) which show a slight increase. There are four (4) Overseas members, a slow decline. There has also been a decline in in student members (4-3). Corporate membership has declined (from 6 to 5), as has Associate (30 - 23), Joint (19-14). Honorary memberships have been reviewed and there are now 12.
Following the work carried out by EBT and the Secretariat contacting members to chase gift aid forms the Society were successful in applying for and receiving £6,061.24. We are now applying for gift aid every 6 months to ensure a steady flow of income. There are still a number of gift aid forms outstanding and this work continues.
Finally, grant applications for external funding have had limited success (due to a very high level of applications, for example 1,700 applications for a grant of only £15,000). However, we have secured one grant (The Hibbert Trust) and expecting the result of the application to the George Cadbury Trust for the next tranche of Sir Adrian Cadbury Lectures soon.
Reserves policy
Current free reserves at the year-end amount to £4,571. 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.
Major risks
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.
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THE LUNAR SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
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 are shown in the legal and administrative information.
P Borg-Bartolo (Retired 4 January 2024) C Stone (Appointed 18 July 2023) D LaBassiere M Purcell (Retired 18 July 2023) S Guy (Retired 18 July 2023) C S Burton D Dundas T Swani (Retired 18 September 2023) A Ali A Taylor R Sharif (Appointed 18 July 2023) J Gaytten (Appointed 18 July 2023) P Mayer - co-opted J Rainford - co-opted
Recruitment and appointment of trustees
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.
Organisational structure
The Trustees delegate the day to day running and administration of the Charity to the Secretariat. A new Secretariat was recruited (in line with the Business Plan) in August 2021 of Dr Joanne Horton (Director of Operations) and Wendy Meakin (Administrator). Both individuals are employed on a freelance basis. They are responsible for the management of events along with marketing, public relations, secretarial and administration duties.
The trustees' report was approved by the Board of Trustees.
.............................. C Stone Trustee
Date: .............................................
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THE LUNAR SOCIETY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LUNAR SOCIETY
I report to the trustees on my examination of the financial statements of The Lunar Society (the charity) for the year ended 31 March 2024.
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).
I 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 I 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.
I 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.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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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.
I 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.
Thomas & Young Limited
Carleton House 266-268 Stratford Road Shirley Solihull B90 3AD
Dated: .........................
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THE LUNAR SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 41,099 47,875 Charitable activities 4 15,291 - Investments 5 1 - Total income 56,391 47,875 Expenditure on: Charitable activities 6 49,657 51,505 Total expenditure 49,657 51,505 Net income/(expenditure) and movement in funds 6,734 (3,630) Reconciliation of funds: Fund balances at 1 April 2023 1,841 9,094 Fund balances at 31 March 2024 8,575 5,464 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 88,974 27,252 6,000 15,291 1,876 - 1 - - 104,266 29,128 6,000 101,162 29,746 47,406 101,162 29,746 47,406 3,104 (618) (41,406) 10,935 2,459 50,500 14,039 1,841 9,094 |
Total 2023 £ 33,252 1,876 - 35,128 77,152 77,152 (42,024) 52,959 10,935 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE LUNAR SOCIETY
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Fixed assets Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension liability The funds of the charity Restricted income funds 15 Unrestricted funds |
2024 £ 188 14,984 15,172 (4,133) |
£ 3,000 11,039 14,039 14,039 5,464 8,575 14,039 |
2023 £ 187 13,913 14,100 (6,165) |
£ 3,000 7,935 |
|---|---|---|---|---|
| 10,935 | ||||
| 10,935 | ||||
| 9,094 1,841 |
||||
| 10,935 |
The financial statements were approved by the trustees on .........................
..............................
C Stone Trustee
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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, 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 or grantors 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.
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.
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
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 unless 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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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 Income from donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Grants receivable - 47,875 Membership fees, donations and gift aid 41,099 - 41,099 47,875 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 47,875 - 6,000 41,099 27,252 - 88,974 27,252 6,000 |
Total 2023 £ 6,000 27,252 |
|---|---|---|
| 33,252 |
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Charitable activities | ||
| Meetings and events | 15,291 | 1,876 |
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
5 Income from investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 1 | - |
| Expenditure on charitable activities | ||
| Charitable | Charitable | |
| activities | activities | |
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Projects, meetings and events | 59,499 | 53,270 |
| Management and administration | 40,397 | 22,616 |
| Governance | 1,266 | 1,266 |
| 101,162 | 77,152 | |
| Analysis by fund | ||
| Unrestricted funds | 49,657 | 29,746 |
| Restricted funds | 51,505 | 47,406 |
| 101,162 | 77,152 |
6 Expenditure on charitable activities
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
9 Independent examiner's fees
Fees payable to the independent examiner totalled £1,020 (2023 £1,020).
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Fixed asset investments
| Social | |
|---|---|
| investment | |
| £ | |
| Cost or valuation | |
| At 1 April 2023 & 31 March 2024 | 3,000 |
| Carrying amount | |
| At 31 March 2024 | 3,000 |
| At 31 March 2023 | 3,000 |
Investments relate to the Aston Reinvestment Trust (ART) made in 2014 and repayable 90 days after request.
12 Debtors
| Amounts falling due within one year: Other debtors Prepayments and accrued income |
2024 £ 1 187 188 |
2023 £ - 187 |
|---|---|---|
| 187 |
13 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Notes Deferred income 14 Other creditors Accruals and deferred income |
2024 £ - 46 4,087 4,133 |
2023 £ 2,000 - 4,165 |
| 6,165 |
14 Deferred income
| Deferred income | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Arising from deferred restricted grants | - | 2,000 |
Deferred income is included in the financial statements as follows:
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
14 Deferred income
| Deferred income Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 April 2023 Released from previous periods Deferred income at 31 March 2024 |
(Continued) 2024 2023 £ £ - 2,000 2,000 4,000 (2,000) (2,000) - 2,000 |
|---|---|
15 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At National Heritage Lottery George Cadbury Trust Previous year: At National Heritage Lottery Birmingham Voluntary Services Council George Cadbury Trust The Hibbert Trust |
1 April 2023 Incoming resources Resources expended At 31 March 2024 £ £ £ £ 9,094 45,875 (49,505) 5,464 - 2,000 (2,000) - 9,094 47,875 (51,505) 5,464 1 April 2022 Incoming resources Resources expended At 31 March 2023 £ £ £ £ 44,500 - (35,406) 9,094 4,000 1,000 (5,000) - 2,000 2,000 (4,000) - - 3,000 (3,000) - 50,500 6,000 (47,406) 9,094 |
|---|---|
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THE LUNAR SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds Analysis of net assets between funds At 31 March 2024: Investments Current assets/(liabilities) At 31 March 2023: Investments Current assets/(liabilities) |
1 April 2023 Incoming resources Resources expended At 31 March 2024 £ £ £ £ 1,841 56,391 (49,657) 8,575 1 April 2022 Incoming resources Resources expended At 31 March 2023 £ £ £ £ 2,459 29,128 (29,746) 1,841 Unrestricted Restricted Total funds funds 2024 2024 2024 £ £ £ 3,000 - 3,000 5,575 5,464 11,039 8,575 5,464 14,039 Unrestricted Restricted Total funds funds 2023 2023 2023 £ £ £ 3,000 - 3,000 (1,159) 9,094 7,935 1,841 9,094 10,935 |
|---|---|
17 Analysis of net assets between funds
18 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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