THE BYRON SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REGISTERED CHARITY NO: 1197293
THE BYRON SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 INDEX Page Trust Inforniation Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-16 The followiDg PAgeJ are for manAgemeDt purpow only Detsiled Incom¢ and Expenditure Account 17
Page I THE BYRON SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUST INFORMATION Trustees: The Rt Hon Robert James Byron Mr Bernard Beatty Mr Kenneth Robbie Dr David Woodhouse Dr Christine Kenyon-Jones Prlnefipal Addre$$: 66 Pk Hill London SW4 9PB UK Charlty StstU8: Registration No 1197293 Bankers: Metro Bank One Southampton Row London WCIB5HA Independent Examlner: Abraham & Dobell 230 Shirley Road Southampton S015 3HR
Page 2 THE BYRON SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and unaudited financial statements of the Charity for the year ended 31 December 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documentlorganisational Stru¢ture The Byron Society is a Charitable Incorporated Organisthon ('CIO') which was registered with The Charity Commission on 23 December 2021 {¢harity number 1197293). Pursuant to an agreement dated 31 December 2022, the Trustees of Th¢ Byron Society. Charity number 265458, (the Old Society) transfeed the whole undertaking of the Old Society &8 a going concern, with all assets and liabilities. including. without limitatio book debts, casl4 contracL% gifts. goodwill, intellectual property rights, rights of action and records to the CIO. The CIO therefore ¢ondu¢ted the activities of the Charity from l January 2023. as is reflted in its first full Financial Ststements for the financial year ended 31 December 2023. During th¢ year ended 31 December 2023. the officers of the Charity were: The Rt Hon Robert Byron Mr Kenneth Robbie Dr David Woodhouse Dr Emily Patterson-morgan President and Trustee Chair and Trustee Treasurer and Trustee Director and Secretary The other TneeS of the Charity during the year were: Mr B¢rnard Beaty Dr Christine Kenyon-Jones In addition members of the Executive Committee of the Old Society who attended Tntee meetin were". Dr Karen Caines Mr Richard Deakin Prof Roderick Beaton Risk Management The Tnte¢S have a duty to identify and review the risks to which the Charity is exposed and to ensure appropria* controls att in place to provide reasonable assurance against fraud and ern)r. Trustee Reernitm¢nt and Appointment Tntstees seek to ensure that the needs of the Charity are adequately represented through the diversity of the E#)dy. TTr are apw)intPAI by agreenLenL following application and inlerview.
Page 3 THE BYRON SOCIETY REPORT OF THE TRUSTEES (CONTtNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECTIVES AND AcfIviTIES Objectlves and Alms The Byron Society aims to support education and research into the lif¢ and work of the poet Lord Byron. Aehlevements and P¢rforniY4Dces On l January 2023, The Byron Society charity number 265458 donated its ¢ntir¢ net assets to The Byron Society charity number 1197293 (CIO). The Byron Society continued to organise a full programme of events in 2023, both in person and online, in support of its aim to educate the public and promote research into thc life and work of the poet Lord Byron. The annual conference was successfully held at Newstead Abbey• Lord Byron's an¢estral home, in April 2023. Several applications were Te¢¢ived and awarded for the Charity's bursary scheme which is open to any Ph.D student accepted at a UK university for dtor81 study materially con¢¢rn¢d with th¢ works of Lord Byron. Two further editions of The Byron Journal were published by Liverpool University Press on behalfof the Charity. This publication is the leading international forum for authorities on Byron and contains scholarly articles and notes on all aspects of Byron's writings and lif¢, and on r¢lated topics. The project to relocate the Byron Memorial Ststue in London from its forgotten and neglected 51te on a Park Lane traific island io a promin¢nt location in Hyde Park continued, with a reception in December to help support this endeavour. Publi¢ Benefit The objects of the Charity the promotion of education and research into the life and works of Lord Byron. The trustees confirni that they have referred to the guidance conlained in The Charity Commission's general guidance on public benefit when reviewing the Charity's aims and obj¢¢tives and in planning future activities and settin8 the policy for the year. FINANCIAL REVIEW The Charity generated a surplus inthe sum of £31,804 (2022- £nil). This included a one-off donation from The Byron Society (the Old Society) of £40,295. Without this one-off donation the Charity would have recorded a deficit of £(8,491). Receipts including the donation from the Old Society totalled £90,191 (2022 - £nil). The expenses were £58,387 (2022 - £nil). The totsl Funds as at December 2023 amounted to £31,804 (2022 - £nil). The Charity wishes to express its gratitude to the Elma Dangerfield Trust for providing financial support during the year. Reyerves Policy and Going Concern It is the policy of the ChaTity to maintsin unrestricted funds, which are the free reserves of the Charity. at a level suffi¢i¢nt to cover their immediate firture plaD& The TTUStees are of a view that the Charity is a going concern.
Page 4 THE BYRON SOCIETY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 FUTURE DEvELOPmEs 2024 marks the bicentenary of Lord Byron's death on 18 April 1824 in Messolonghi. Greece. In addition to its norn1 annual activities The Byron Society will be marking this special occasion with several ev¢nts including a wreath-laying service in Westminster Abbey and dinner at the House of Lords. The Charity will also support relaled activities such &8 an all4tsy session planned at the British Library together with the Wordsworth Trust and a 2-day Byron Symposium led by Trinity College, University of Cambridge. The Charity will continue to work with other Byron Societies globally through the International Association of Byron Soci¢ties which will also be holding several events to comtnemorate the bicentenary. The Charity will leverage the public interest shown in Byron in this bicentenary year to progress plans to relocate the Byron Memorial Statue. In 2024 the projeeL which began in 2021, will be further developed in¢luding public and charitabl¢ trust fundraising. compl¢tion of planning perniission applications and creating plans for ongoing public engagement activities following the relocation. STATEMENT OF TRUSTEFS, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees lo prepare Financia] Statements for each fllwicial perlod. which give a true and fair view of the slale of the affairs of the Charity and of its in¢oming resources and application of resources of the Charity for that period. In preparing those Financial Ststements the TnteeS are required to: select suitable accounting policies and then apply them ¢onsi$tently: observe the methods and principles in the Charities SORP: make judgements and estinwtes that are reasonable and ptudenl; sts* whether applicable UK accounting standards have been followe(L subject to any material departures disclosed and explained in the Financial Statements. and prepare the Financial Ststements on the going concern basis unless it is inappropriate to presume that the Charity will continue on that basis. The Tn]stees are responsible for maintaining proper accounting records which disclose. with re&qonable accuracy at any time, the financial kX)Sition of th¢ Charity and to enable them to ensure that the Financial Statrments comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and, hen, for tsking reasonable steps for the prevention and d¢t¢ction of fraud and other irregularities.
PWS THE BYRON SOCIETY REPORT OF THE TRusfEES (coTED) FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTANrs A resolutiOD to fwint Abraham & Dotdl &8 Inde]X Examinas will be the Apprnved by the oydtr of the Bmrd of Tntslem 00 19 September 2024 and sizn¢d on Its behalf by: THE RT HOF4 R J BYRON TRUSTEE
Page 6 REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE BYRON SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023 I report on the Accounts of the Charity for the year ended 31 December 2022, which we are set out on pages 8 to 16. RESPECTIVE RESPONSIBILrrIES OF TRUSTELS AI¥D EXAMINER As the Ch8rity's Trustees, you are responsible for th¢ preparation of the Accounts and you consider that the audit requirernent of section 144(2) of the Charities Act 2022 (the 2011 Act) does not apply and that an tndependent Examination is needed. It is my responsibility: to examin¢ the accounts (under section 145(l) of the 2011 Act); to follow the procedures laid down in the General Directions given by The Charity Commission (under section 145(5)b of the 2011 Act) and to state whether particular matters have come to my attention. BASIS OF EXAMINER'S REPORT My exatnination was canied out in accordance with the General Directions given by The Charity Commission. An examination includes a review of the accounting records kept by the Clwity and a comparison of the accounts Presented with those records. It also includes consideration of any unusual items or disclosures in th¢ accounts and seeking ¢xplanations from you as Trustees concerning any such matters. The PTwedures undertaken do not provide all the evidence that would be required in an audit an(L consequently. no opinion is given as to whether the accounts present a Irue and fair view and the report is limited to those matters set out in the ststem¢nts below. INDEPENDENT EXAMINER'S STATEMENT In connection with my examinatio no matter has Con to my att¢nlion: ithich gives me reasonable cauK to belie thaL in any mafrrial respecL the requirements: to keep accounting records in accordance with section 130 of the 2011 Act" and to pr¢par¢ accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met. or
Page 7 REPORT OF THE INDEPENDENT EXAMINER (coiYrINUED) TO THE TRUSTEES OF THE BYRON SOCIETY FOR THE YEAR ENDED 31 DECEMBER 2023 INDEPENDENT EXAMINER'S STATEMEIYT (CONTINUED) to Whic in my opinion, attention should be drawn in ord¢r to enable a proper understanding of the accounts to be reached. DAVID J MANT FCA tNSTrruTE OF CHARTERED ACCOiINfANTS IN ENGLAND & WALES 230 Sblrley Road Southampton S015 3HR 19 September 2024
Page 8 THE BYRON SOCIETY STATEMEiYf OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted Restrieted Totsl FuDds Funds Funds 2022 Total Funds Notes INCOME Donations and legacies Charitsble activities Investrnents 63,214 465 12 26,500 89.714 465 12 TOTAL INCOME 63.691 26.500 90,191 EXPENDITURE Charitable activities 32.993 25,394 58,387 TOTAL EXPENDITURE 32,993 25,394 58.387 NET INCOMEIffjXPENDITURE) I NET MOVEMENT IN FUNDS 30.698 1,106 31.804 RECONCILIATION OF FUNDS Totsl fimds brought forward Totsl funds corried forward £30,698 £1,106 £31.804 The notes on pages 10 to 16 forni part of th¢se Financial Statements. Th¢ Statem¢nt of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
P91e 9 THE BYRON SoCIy BALANCE SHEET AS AT 31 DECEMBER 2023 21123 2022 No 35,944 35.944 LIABILITtES Creditors: Amounts falliD8 due within one ye 4.140 31,804 AL NET ASSETS io £31.804 11 30.698 £31.804 Apprnved by th¢ tru•t¢u 19 Septs•b¢r 2024 and Ji8ned o• their behaifby: THE RT HON R J BYRON TRUSTEE
PAge 10 THE BYRON SOCIETY NOTES TO THE FINANCJAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES The attounting policies are SUMM loW and have been applied ¢onsistently throughout th¢ y¢ar and in the preceding period. (a) Basis of A¢countlDg The Financial Statements have been prepared under the historic cost convention with items rcco8nised at cost or transaction value uni¢&s otherwise stated in the notes to thes¢ Financial Ststements. The Financial Ststements have be¢n prepared in accordance with the Statement of Recommendal Practice: Accounting and RepK)rting by Charities preparing their Accounts in accordance with Financial Reporting Standard applicable in the UK aThl Republic of Ireland FRS 102 i&8ued on 18 July 2014 and the Charities Act 2011. Assets and liabilities are initially re¢ognised at historical cost or transaction value. The Finan¢ia] Slatements are pRpared in sterlin& l¢b is th¢ fictiOnal cuThency of the Charity. Monetsry amounts are rounded to the nearest £. The Charity conslitutes a public entity ben¢fit and defined by FRS 102. Ib) PreparAt5on of the A¢¢ounts ott a Going Conetrn B#slJ The ttwtees have prepared the Financial Ststements on a goin8 concern basi5. (c) IDeome This represents subscriptions and donations receivable together with royalties and inwme from various functionslactivites. All income is Includ in the Statement of Financial Activities (SOFA) when the Charity is entitled to the intome and the amowit can be quantified with reasonable accuracy. The followin8 specific polices are applied to particular categories of income: Subscriptio These repres¢Dt subscriptions receiv during the year and subscription fees held in the Charity's PaypAI accounL some of wbich relate to earlier years. IDvestmeDt IDeome This is included in the Financi Statements when receivabje. Grants and DoDations Grants and donations are only included in the SOFA when the Charity has unconditional entidement to the resource&
Pxge 11 THE BYRON SOCIETY (CONTINUED) FOR THE TrTAR ENDED 31 DECEMBER2023 ACCOUNTING POLICILS (CONTINUED) (d) Expendltllre Expenditure is recognised on an aCCn basis as a liability is incuzred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the ¢xp¢nditure to which it relates. Support costs comprise those costs incurred by the Charity in the delivery of its activities and s¢rvi¢es to its members. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity. (e) Debtorj Trade and other d¢btors are reeo8nis&l at th¢ SCeMent amount due. Prepayments are valued at the amount prepai& (fj Csh at Bank 2nd In Hand C&sh at bank and $h in hand in¢ludes c&8h and short tenn highly liquid invesknents with a short maftwity of tbree months or less from the date of acquisition or openin8 of the deposit or similar account. (g) Credltorj and Provblons Creditors and provisioL8 are recognised where the Charity h&8 a present obligation resulting from a past event that will probably resuli in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated r¢liably. Creditors and provi5i0ns are noMllY recognised at their settlement amount. (h) Donated Servlees Donated services and facilitses are inclth at the value to the Charity where this can be quantified. (i) Fund Ac¢ountlDg Unrestricted fidS are genelal funds available for use at the disctetion of the truses in filltherance of the general ObJtiv¢S of the CIlty. Restricted funds are subject to specific restrictiOJL8 on their eXndItUre Imsed by the donor or through the tern]s of an appeal. The purpose and use ofrestricted filljds ale set out in the notes tothe Finala] Statements.
Page 12 THE BYRON SOCIETY NOTES TO THE FINANCIAL AcfiviTIES (CONTINUED) FOR THE YEAR EiYDED 31 DECEMBER 2023 DONATIONS AIYD LEGACIES 2023 Unrestricted Restrieted Total Funds Funds Funds 2022 Total Funds Donation from Old Society Donations and grants MemEers' subscriptions 40,295 20,000 2,919 40295 46,500 2.919 26,500 Total £63214 £26,500 £89.714 In 2022 the donations and legacies received of £nil were unrestricted. There were no donated services and facilities receivable which Could be quantified in th¢ year (2022 - £nil). CHARABLE ACTIVTTIES 2023 UDrestrleted Rutricted Total Funds Fund8 Funds 2022 Totsl Funds Functions £465 £465 tn 2022 the charitable activities income of £nil was unr¢strict¢d. VESTMENT ThCOME 2023 Unr£8tri¢ted Restrieted Total Funds Funds Funds 2022 Total Funds Bank interest £12 £12 In 2022 the inv¢stm¢nt income of £nil was unrestricted.
Page 13 THE BYRON SOCIETY NOTES TO THE FINANCIAL ACTIVITIES (CONfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ANALYSIS OF EXPENDITURE ON CHARITABLE A1VITIEs 2023 2022 Totsl Total FuDd8 Funds Running Costs Byron Statse Management fees Statu¢ expenses Functions and meeting expenses Byron Journal production Donations, bursaries and awards Support costs Governance costs 5.000 4.243 8,518 3,721 8,227 1,784 1,51JO 5,OlX) 29,637 8.518 3.721 8,227 1,784 1,500 25.394 Total £32,993 £25,394 £58,387 Of the eXpenditL¢ on charitable activities in 2023 of £58J87 (2022 - £nil). £32.993 were unrestricted funds and £25,394 w¢r¢ r¢stricted funds. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS The Charity identifies the costs of its support fLmCtions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the r¢maining support costs together with the governance costs are apportioned between the two key charitable activities undertaken {s¢¢ note 5) in the year. Refer to th¢ table below for the basis for apportionment and the analysis of support and governance Costs. GeD¢ral Governance Support Function Basis of Totsl ApportionmeDt Postage and stationery Paypal charg¢s and fees Website, IT and software tndependent Examiner's costs Sundry costs 1.151 66 544 1.151 Usage Transactions Usage Governanee Trdnsactions 544 1.500 23 1.500 23 £1,784 £1,500 £3.284
Page 14 THE BYRON SOCIETY NOTES TO THE FINANCIAL AcfiviTIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2023 ANALYSIS OF MANAGEMENT COSTS, MANAGEMENT NUMBERS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL Management Costs Management costs were as follows: 2023 2022 Management fees £5,000 Manag¢m¢Dt Numbers The average number of management persomiel during the year was l (2022 - none). Trustee's remuneratlon and relAted party trnnsactions No InteeS received any r¢muneration or benefits during the year ended 31 December 2023 (2022 - £nil). There were no trnstees, expenses paid for the year ended 31 December 2023 (2022 - £nil). The Trustees have not been in receipt of any remuneration nor reimbursement of expenses. TAXATION The CIO, as a registered Charity. is exempt from tsx on income and gains falling within s.524 of the Income Act 2007or s.256 of the T&xation of Chargeable Gains Act 1992, to the extent that these ar¢ applied to its charitable objects. No tax provision is therefore required. CREDITORS: Amounts falling due wlthln one year 21n3 2022 Other creditors Arxruals 2,640 1.500 £4,140
Page IS THE BYRON SOCIETY NOTES TO THE FINANCIAL AcfIviTIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Unrestrieted Restrieted Funds Funds 2023 Total Funds 2022 Totsl Funds Current assets Current liabilities 34.838 (4.140) 1.106 35,944 (4,140) Net Ajsets at 31 D¢¢¢mber 2023 £30.698 £1.106 £31,804 I I. ANALYSIS OF CHARITABLE FUNDS At IDeomlng Outgolng At 01.01.23 Re8our¢es Resources 31.12.23 Analyyls of Movements In UDrestrl¢led Funds General Fund 63,691 32,993 30,698 TotAI Unrestrleted Funds 63,691 32.993 30,698 Analysis of Movements io Restricted Funds Byron Statue Fund 26.500 25,394 Total Restrleted Funds 26,500 25.394 1.106 Totsl Funds £90.191 £58,387 £31,804
Page 16 THE BYRON SOCIETY NOTES TO THE FINANCIAL ACTIVITIES (COIYTINUED) FOR THE TrTAR ENDED 31 DECEMBER 2023 I I. ANALYSIS OF CHARITABLE FUNDS (CONTINUED) UDreJtri¢¢ed Funds General Fund These att funds which the Charity is free to use in accordance with the eharitable objects. Restricted Funds These are funds which the Charity can only spend on a purpose delennined by the tenns on which the fund is received. ron tatue F This 1$ a fimd for the r¢lo¢ation of the statue of the p¢*t Lord Byron.