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THE MONEY MACRO AND FINANCE SOCIETY
(A CHARITABLE INCORPORATED ORGANISATION)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
COMPANY NUMBER: CE019466
REGISTERED CHARITY NUMBER: 1186178
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR
Tel: 01509 214163
DocuSign Envelope ID: ED7C7170-3D64-41B1-9DAD-7396F4E39B64
THE MONEY MACRO AND FINANCE SOCIETY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
CONTENTS
| 1 - 7 | Report of the Trustees |
|---|---|
| 8 | Independent Examiners’ Report |
| 9 | Statement of Financial Activities |
| 10 | Statement of Assets and Liabilities |
| 11 - 13 | Notes forming part of the financial statements. |
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
The officers present their report along with the financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the Society’s trust deed and applicable law.
REFERENCE AND ADMINISTRATIVE DETAILS:
Charitable Objectives
The advancement of education in the fields of monetary economics, macroeconomics, and financial economics in particular, but not exclusively within the United Kingdom through conferences, public lectures, publications, seminars, workshops and promoting research for the public benefit in all aspects of monetary economics, macroeconomics, and financial economics and publishing the useful results.
Registered Charity Number 1186178
Address: Money Macro and Finance Society, c/o Sir Clive Granger Building, University of Nottingham, University Park, Nottingham, NG7 2RD.
1. Organisational/Governance Structure
The Money Macro and Finance Society's governance structure is as follows:
EXECUTIVE COMMITTEE
The Executive Committee is responsible for the day-to-day running of the MMF Society.
Paul Mizen, University of Nottingham, Chairman Laura Coroneo, University of York, Secretary Amit Kara, Independent consultant, Treasurer Chris Colvin, Queens University, Belfast, Webmaster Simon Price, Essex Business School, Sponsored Events
MEMBERSHIP COMMITTEE
The membership committee consists of the Honorary President, Vice-Presidents and Ordinary Members.
HONORARY PRESIDENT
| Sir Dave Ramsden | Bank of England |
|---|---|
| HONORARY VICE-PRESIDENTS | |
| Wendy Carlin | University College London |
| Jagjit Chadha | NIESR |
| Alec Chrystal | Cass Business School |
| Diane Coyle | University of Cambridge |
| Sean Holly | University of Cambridge |
| Paul Levine | University of Surrey |
| Joe Pearlman | City University |
| Simon Price | University of Essex |
| Peter N. Smith | University of York |
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
Ordinary Committee Members
Saleem Bahaj University College London Gianluca Benigno London School of Economics Jane Binner University of Birmingham George Bratsiotis University of Manchester George Chortareas King’s College London David Cobham Heriot-Watt University Chris Colvin Queen's University Belfast Laura Coroneo University of York Tatiana Damjanovic University of Durham Sara Eugeni University of Durham Elisa Faraglia University of Cambridge Chryssi Giannitsarou University of Cambridge Claudia Girardone Essex Business School Christoph Gortz University of Birmingham Amit Kara Independent Consultant Tatiana Kirsanova University of Glasgow Kevin Lee University of Nottingham Miguel Leon-Ledesma University of Kent Stephen Millard NIESR Paul Mizen University of Nottingham Francesca Monti Gulcin Ozkan King's College London Ivan Petrella Warwick Business School Ricardo Reis London School of Economics Lucio Sarno Judge Business School, Cambridge John Tsoukalas University of Glasgow Liliana Varela London School of Economics Dimitri Vayanos, London School of Economics Tianshu Zhao
University of Nottingham Universite Catholique de Louvain and King’s Business School King's College London
Judge Business School, Cambridge
University of Glasgow London School of Economics London School of Economics University of Birmingham
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
Board of Trustees of the Money, Macro and Finance Society
| Board of Trustees of the Money, Macro and Finance Society | Board of Trustees of the Money, Macro and Finance Society | Board of Trustees of the Money, Macro and Finance Society | Board of Trustees of the Money, Macro and Finance Society | Board of Trustees of the Money, Macro and Finance Society |
|---|---|---|---|---|
| Role | Name | Surname | Affiliation | Responsibility |
| Chair of Trustees | Peter | Smith | University of York | Investment (chair), Nominations (chair), Diversity and Inclusion |
| Chair of MMF Executive |
Paul | Mizen | University of Nottingham | Charity Commissioners Relations, Nominations, Annual Conference (chair), Policy Advisory (chair) |
| Secretary of Trustees and MMF Executive |
Laura | Coroneo | University of York | Nominations, Communications (chair) Diversity and Inclusion |
| Treasurer of Trustees and MMF Executive |
Amit | Kara | Independent consultant | Nominations, Investment, Risk |
| Trustee | Jagjit | Chadha | National Institute of Economics and Social Research |
Risk (chair), Policy Advisory |
| Trustee | Gulcin | Ozkan | King’s College London | PhD Conference (chair), Diversity and Inclusion (chair) |
| Trustee | Simon | Price | University of Essex | Sponsored Events, Seminar Competition (chair) |
The Board of Trustees are legally responsible for the MMF Society. The Trustees met twice in this period, at the Annual Meeting on 31[st] August 2021 and on 20[th] June 2022.
All new Trustees receive the Charity Commission’s Information on the responsibilities of Charity Trustees, the Constitution of the Charity, the most recent Annual Report and Statement of Accounts of the Charity. New Trustees receive a briefing and trustee induction pack on appointment, with further training undertaken on an ad-hoc basis, as required.
At the first AGM of the Membership Committee, held in September 2020, all Trustees resigned and an election of new Trustees was held. Trustees serve for three years. Candidates from a list drawn up by the Nominations Committee stood. At subsequent AGMs, one third of Trustees, those longest in office, will resign and an election of new Trustees to serve for three years will be held. Candidates from a list drawn up by the Nominations Committee will stand. Any Member may be nominated for election to the Nominations Committee with the support of at least two other Members.
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
2. Sub-Committees of the Board of Trustees
Annual Conference
The Society plans to hold an annual conference, usually in September, with presentations from distinguished guest speakers and those who have submitted papers which have been accepted by the organising committee. The Society, and its predecessor organisations (most recently the MMF Research Group), has met annually in the UK since 1969.
The 2021 Annual conference was held online and hosted by the University of Cambridge. The invited speakers were: Sydney Ludvigson (New York University); Olivier Blanchard (Massachusetts Institute of Technology); Jordi Gali (Universitat Pompeu Fabra); Linda Goldberg (Federal Reserve Bank of New York); Marcel Fratzscher (Humboldt University Berlin). The recordings of their talks are available at 308 people registered for the event. This has been the largest number of registrations we have ever had for a MMF conference. We thank Sean Holly, Charles Brendon, Tiago Cavalcanti, Elisa Faraglia and Chryssi Giannitsarou for the work that they did to organise this conference.
The conference returns to a normal face to face format in 2022, hosted by the University of Kent with invited speakers: Murillo Campello (Cornell University), Catherine L Mann (MPC, Bank of England), George-Marios Angeletos (Massachusetts Institute of Technology) and Emi Nakamura (University of California, Berkeley). We are grateful to the local organisers: Alfred Duncan, Ilhan Guner, Wei Jiang, Alexander Klein, and Miguel León-Ledesma.
Communications
The MMF maintains a website and a JISCMail subscription list (with 878 subscribers) for communicating with members and those interested in receiving news from the Society. The MMF has an active Twitter account @MMF_research (with 1,119 followers), a website https://www.mmf.ac.uk/ which offers up-to-date information about upcoming conferences and activities, as well as providing a record of past events and further information about the MMF including a news blog, and a YouTube channel (with 96 subscribers) that collects the recordings of our online/hybrid events, organised in 13 playlists.
Diversity
As is clearly expressed in our EDI statement, at the MMF we are fully committed to inclusion across race, gender, age, religion, identity, experience and all other protected characteristics. This commitment has been central to all our activities over the past year, including those we have supported. This is also visible in both the program of the PhD conference and the line-up of the keynotes at our upcoming 2022 annual conference, taking place at the University of Kent, at Canterbury.
We continue to welcome proposals that ensure there is tangible diversity and inclusivity in the programme and will not be funding or publicising events that lack such diversity.
Investment
The MMF has some limited accumulated funds which it uses to smooth outgoings and income unevenness over time. We have initiated the process of opening an execution-only account with Charles Stanley in order to invest the surplus in a diversified range of low-cost funds. The Investment Committee makes specific proposals to the Trustees as to where best these funds be allocated .
Nominations
This was the first year of operation of the replacement of trustees and members on a rotational basis.
Richard Barwell and Panicos Demetriades resigned as Trustees. Simon Price’s initial term as Trustee expired as per the rotation, having been selected randomly. and he was subsequently elected in December 2021 for a new term of three years. There are two vacancies for Trustees which will be filled in due course.
Philip Arestis and Mike Wickens retired as Honorary Vice Presidents and Sean Holly, Paul Levine and Jo Pearlman moved from Members to Honorary Vice Presidents.
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James Mitchell and Kevin Sheedy have resigned as Ordinary Committee Members. Saleem Bahaj, Francesca Monti, Liliana Varela, Dimitri Vayanos and Tianshu Zhao were elected as Ordinary Committee Members, to serve for three years in the first instance.
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
Reserves Policy
The purpose of the reserve policy for the Money Macro and Finance Society is to ensure that sufficient funds are available to cover normal operational costs and to provide a measure of protection against large unbudgeted expenditure, whilst also making sure that excessive, unallocated funds do not accumulate.
The Society plans to spend the majority of its regular income on its conference activities and sponsored events.
The Trustees deem it sensible to maintain a balance of one years’ operational costs, which corresponds to approximately £60,000.
The Trustees review the accounts regularly. It is recognised that due to the uncertainty around our annual income, it is necessary to hold a balance greater than £60k as an endowment to supplement other sources of income. This will provide a buffer to maintain our regular commitments.
The level of reserves will be reviewed annually to reflect the perceived risks and budgetary demands of the Society.
Overseas Engagement
A subcommittee is being established involving representatives of international bodies that are similar to the MMF Society and several Committee members. The subcommittee will encourage collaborative ventures between the MMF and international counterparts.
PhD Conference
The Society plans to hold annually a conference for PhD students to present their work and receive feedback from other participants. The Society has held an annual conference for PhD students researching topics in monetary economics, macroeconomics and financial economics, broadly defined, since 2013.
This year’s PhD workshop was hosted by Heriot-Watt University and was the first ‘in person’ since the COVID Pandemic struck in 2020. The conference ran from lunch on Thursday to lunch on Saturday, with a Conference Dinner on the Friday evening. We were particularly fortunate in that the Friday sessions were held in Panmure House, the Edinburgh home of Adam Smith. Students presented papers in all three areas of interest - macroeconomics, monetary economics and finance – and represented a diverse set of universities including the Universities of Lausanne and Dresden. Prizes were awarded in honour of the late Professor Peter Sinclair as follows:
£250 to Julian Ashwin (Oxford University) for his paper on ‘The shifting focus of central bankers’
£150 to Lee Tyrell-Hendry (Edinburgh University) for his paper on ‘EM forever blowing bubbles: Global imbalances and the limits of fiscal policy’
£100 to Jantke de Boer (Universities of Dresden and Cambridge) for her paper on ‘Foreign portfolio investment network and currency risk premia’
Policy Advisory
The MMF Society arranges an annual policy conference in London. The event brings together senior policymakers and academics to discuss pertinent policy questions in money, macro and finance of the day.
The Society ran the 7[th] Policy Conference Webinars between 28[th] September and 8[th] October. The topic for this conference was climate finance and the speakers included (in order of events) Sarah Breeden (Executive Director, Bank of England), Ma Jun (Chairman, China Green Finance Commission), Mark Carney (former Governor, Bank of England and Bank of Canada, COP26 Adviser to the UK Government), panel discussion with Ian Parry (Principal Environmental Fiscal Policy Expert, IMF), Igor Zuccardi (IMF) and Beata Javorcik (EBRD) and Robert Engle (New York University and Nobel Laureate) with Misa Tanaka (Head of Research, Bank of England). Further details and video recordings of all the sessions are available at: https://www.mmf.ac.uk/policy/.
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
Risk
The Trustees give consideration to the major risks facing the MMF and satisfy themselves that systems or procedures are established in order to mitigate these risks. The Risk Committee advises the Trustees on these matters.
Covid-19 has led to the loss of the main income source - the annual MMF conference. However, in mitigation, the MMF is not committed to any of the usual expenditures on workshops, conferences, PhD support in reduced annual conference fees. Commitments have been trimmed in the light of Covid-19. There will be some expenditures on Webinar events, but these are very small.
The MMF is subject to further governance, financial and operational risks and a risk register is being developed to monitor these risks. The risk register is being prepared for the start of 2023.
Sponsored and ad hoc Events
The MMF sponsors events by groups within the UK that fall within our remit. Some of these are facilitated on an ad hoc basis, but there is also an annual call for events that fall under our remit that would benefit from sponsorship. This latter process is overseen by the Seminars Committee (SC), chaired by Simon Price, the executive team member responsible for Sponsored Events.
Since the last Trustees’ meeting in June 2021 MMF this category mainly covers “seminar committee” part-funded events, ad hoc events and the Challenges partnerships with the Resolution Foundation. Sponsored events from the 2020 call held since the last Trustees’ meeting in June 2021 were:
-
CLIMATE CHANGE: ECONOMIC IMPLICATIONS, TOOLS AND CHALLENGES FOR POLICY-
-
MAKERS IN EUROPE on 17 June 2021 (online) NIESR
-
ESRC VIRTUAL WORKSHOP ON PREDICTABILITY, FORECASTING AND MONITORING on 12-14th
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July 2021 University of Essex (online)
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MACROECONOMICS NETWORK IN THE SOUTH WEST WORKSHOP on 24 September 2021
-
(University of Bath)
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LILLE-READING WORKSHOP ON INTERNATIONAL FINANCE on 4-5 November 2021(online)
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WHAT HAVE WE LEARNED ABOUT THE MACROECONOMIC EFFECT OF FORWARD GUIDANCE?
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on 9-10 November 2021 University of Oxford (online)
-
WORKSHOP ON PRODUCTIVITY AND STRUCTURAL CHANGE on 26 November 2021 (Bank of
-
England, NIESR, The Productivity Institute, Essex Business School and Adam Smith Business School (hybrid)
Despite this being a long list, the costs were very low as they were mostly online. We issued our usual call in the second half of 2021 with a specific topic and call as follows:
The World after Covid
The pandemic remains the dominant influence on the world economy. So events that focus on the long-run impact and policy responses are particularly invited, including but not restricted to
-
Structural changes in labour and other markets.
-
Appropriate fiscal and monetary policies.
-
Longer term impacts on deprivation and workplace or economic inequalities.
We welcome proposals that aim to cover these or similar issues that emphasise the unusual aspects of the current situation, as well as our usual general call.
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THE MONEY MACRO AND FINANCE SOCIETY
ANNUAL REPORT OF THE TRUSTEES
Sponsored and ad hoc Events
We received three applications, none of which were on topic:
-
Liverpool: Post-COVID: A Multidisciplinary Big Data Analysis of UK Economy and Economic Policies (to be
-
held 28-29 June 2022)
-
Birkbeck Environmental Finance for the Common Good (held 31 March to 1 April 2022).
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Birmingham. Geography of money and finance and future challenges for levelling up UK economy.
After the usual process of seeking a referee, we decided to fund the first two, although neither were very close to our core interests. We did not fund Birmingham as we judged it it be outside our area. This means we underspent our notional £10,000 budget by about £5,500.
This was a disappointing outcome, and we (the ExComm Chairman, Communications and Strategy, and Sponsored Events members) have been reflecting on how to proceed next year. Consequently, we are not currently planning the usual call for events which last year had a September deadline, although it is by no means too late to do so.
The third of the MMF/RF Challenges series on New economic policy challenges for an uncertain world took place as two hybrid events on 28 April and 9 May 2022 and attracted large online audiences. The speakers were Adam Posen (Chair of the Peterson Institute), Katharine Neiss (Chief European Economist at PGIM Fixed Income), Michael Saunders (external member of the Monetary Policy Committee) and Petra Geraats (Associate Professor of Economics at the University of Cambridge). MMF incurred no costs for these events.
There was also the MPC at 25 event organised with NIESR on 30 March 2022. This was a closed meeting with exceptionally well-informed participants including past MPC members and others who had historically been involved with the MPC.
Financial Review
The MMF is fully in control of all its reserves. Our 2019-2021 accounts were independently examined by Cound and Co. LLP Chartered Accountants and submitted to the Charity Commission.
Our accounts are maintained by a bookkeeper on an external accounting platform called ‘Xero’. The annual cost incurred by MMF for managing our accounts, which includes the external examination, software cots and bookkeeper fees, amounted to approximately £2,000 in 2021-22.
Our main source of income remains the fees generated from the Annual Conference. The revenue for the 2021 conference amounted to around £13,880 and the surplus, after allowing for expenses, amounted to £11,500. We have a balance of £197,787 as of 16[th] June 2022.
Our P&L for the period financial year 2021-22 and our balance sheet as of 31st March 2022 are below. The MMF was registered as a charity on 6[th] November 2019.
On behalf of the Trustees of the Macro, Money and Finance Society
Peter Smith Amit Kara
22 December 2022
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INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF
THE MONEY MACRO AND FINANCE SOCIETY
Independent Examiner's Report to the Trustees of the Money Macro and Finance Society
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 5 to 8.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records
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the accounts 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 accounts to be reached.
D R Gradon MA FCA
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics, LE11 5XR
22 December 2022
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THE MONEY MACRO AND FINANCE SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2022
| Receipts: Donations Conference Sponsorships Investment income Other income Conference Fees charged Payments: Charitable activities: Conference Costs Sponsorship Establishment costs External Conference Costs Total Payments Net receipts Transfers Net movement in Funds Reconciliation of Funds: Total funds brought forward Surplus for the period Total funds carried forward |
2022 2022 Unrestricted Restricted Notes Funds Funds - - - - - - - - 13880 - __ 13880 - 2 6308 - 2677 - 3 3426 - 911 - __ 13332 - 558 - - - 558 - __ 201183 - 558 - __ 201741 - __ ___ |
Period Ended 2022 31/03/2021 Total Total - 201369 - 8711 - 1 - 20 13880 - __ _ 13880 210101 6308 5012 2677 1800 3426 2106 911 - 13332 8918 558 201183 - - 558 201183 201183 - 558 201183 201741 201183 __ ______ |
Period Ended 2022 31/03/2021 Total Total - 201369 - 8711 - 1 - 20 13880 - __ _ 13880 210101 6308 5012 2677 1800 3426 2106 911 - 13332 8918 558 201183 - - 558 201183 201183 - 558 201183 201741 201183 __ ______ |
|---|---|---|---|
| 5012 1800 2106 - __ 8918 ____ |
|||
| 201183 - 201183 ______ |
|||
| - 201183 __ 201183 ____ |
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THE MONEY MACRO AND FINANCE SOCIETY
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2022
| 2022 2022 Unrestricted Restricted Note Funds Funds CURRENT ASSETS Debtors 4 2310 - Bank balances 201536 - __ _ 203846 - CURRENT LIABILITIES Creditors and Accruals 5 2105 - NET CURRENT ASSETS 201741 - TOTAL NET ASSETS 201741 - FUND BALANCES Unrestricted Fund 6 201741 - 201741 - ___ |
Period Ended 31/03/2021 2022 Total Total Funds 2310 4769 201536 198694 __ _ 203846 203463 2105 2280 201741 201183 201741 201183 201741 201183 201741 201183 ___ |
|---|---|
The Financial Statements on pages 5 to 8 were approved by the trustees on 22 December 2022 and signed on their behalf by:
……………………………….. Amit Kara Treasurer
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THE MONEY MACRO AND FINANCE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1 ACCOUNTING POLICIES
a) Basis of Preparation of Financial Statements
The Money Macro and Finance Society is a Charitable Incorporated Organisation in England. 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. The address of the registered office is given in the charity information on page 3 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
c) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be require and the amount of the obligation can be measure reliably.
2 CONFERENCE COSTS
| 2022 2022 Unrestricted Restricted Funds Funds Webinar costs 4050 - Consultants - - Prizes 650 - Travel expenses - - Promotion Expenses 900 - Telephone Costs 260 - Consumables 448 - _ 6308 - __ _____ |
Period Ended 31/03/2021 2022 Total Total Funds 4050 2681 - 1800 650 450 - 81 900 - 260 - 448 - _ £6308 £5012 __ ______ |
Period Ended 31/03/2021 2022 Total Total Funds 4050 2681 - 1800 650 450 - 81 900 - 260 - 448 - _ £6308 £5012 __ ______ |
|---|---|---|
| 2681 1800 450 81 - - - _ £5012 ___ |
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THE MONEY MACRO AND FINANCE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3 ESTABLISHMENT COSTS
| ESTABLISHMENT COSTS | ||
|---|---|---|
| 2022 2022 Unrestricted Restricted Funds Funds Software 2517 - Administrator - - Trustee Meeting Expenses - - Independent Examination Fee 840 - Bank Fees 69 -- _ 3426 - __ _____ |
Period Ended 31/03/2021 2022 Total Total Funds 2517 547 - 612 - 347 840 600 69 - _ £3426 £2106 __ _____ |
|
| 547 612 347 600 - _ £2106 ___ |
| 4 5 6 |
DEBTORS 2022 2021 Prepaid expenses £2310 £4769 _ CREDITORS:amounts falling due within one year 2022 2021 Trade Creditors 1505 1680 Accruals 600 600 _ £2105 £2280 ANALYSIS OF NET ASSETS BY FUND 2022 2022 Unrestricted Restricted Funds Funds Fixed Assets - - Current Assets 203846 - Current Liabilities (2105) - __ 201741 - __ |
2022 Total Funds - 203846 (2105 ) __ 201741 ____ |
|---|---|---|
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THE MONEY MACRO AND FINANCE SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6 ANALYSIS OF NET ASSETS BY FUND (CONT’D)
| 2021 2021 Unrestricted Restricted Funds Funds Fixed Assets - - Current Assets 203463 - Current Liabilities (2280) - __ 201183 - __ |
2021 Total Funds - 203463 (2280 ) __ 201183 ____ |
|---|---|
The trustees neither received nor waived any remuneration during the period.
7 RELATED PARTY TRANSACTIONS
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Our ref: DRG/MON001
PRIVATE & CONFIDENTIAL
Amit Kara
The Money Macro and Finance Society Room B71 Sir Clive Granger Building University Park Nottingham Nottinghamshire NG7 2RD
3 January 2023
Dear Amit
THE MONEY MACRO AND FINANCE SOCIETY
I enclose two copies of the accounts for the year ended 31 March 2022: -
a) one bound copy for you to keep,
- b) our unbound “file” copy to be signed and returned to us.
I have also sent you a PDF copy via DOCUSIGN if you would prefer to sign the accounts electronically.
Please let me know if you require any further information. In the meantime, I enclose a note of our fees for your kind attention in due course.
Yours sincerely
D R Gradon MA FCA for Cound & Co LLP