THE IRAN SOCIETY
16 Old Queen Street, London SW1H 9HP Telephone: 020 7235 5122
08 May 2024
Notice is hereby given that the Annual General Meeting of The Iran Society will be held at 6.00 pm on Wednesday 05 June 2024 at The Army & Navy Club, 36 - 39 Pall Mall, London SW1Y 5JN
This Notice, Annual Report and Financial Statements deal with the affairs of the new Charitable Incorporated Organization (‘CIO’) which was formed on 24 October 2022, and registered with the Charity Commission under number 1200807. On 01 January 2023, all the activities, assets and liabilities of the former charity, also called The Iran Society (Charity Commission number 248678), were transferred to the CIO.
As this is the first Annual General Meeting of the CIO, all Trustees, Members of Council and Officers shall retire and are eligible to be immediately re-elected. Their names are listed on page 3. All offer themselves for re-election.
Nominations of further candidates to fill available vacancies for members of Council or Trustees may be made in signed form by a proposer and a seconder, accompanied by a signed letter of consent by the candidate, who may also submit a text of up to 150 words about their candidacy. Nominations must be received no later than 22 May 2024.
Any member unable to attend the Meeting may appoint another person as a proxy to exercise all or any of that member’s rights to attend, speak and vote at the Meeting. Proxies must be appointed by sending a signed notification to the Honorary Secretary to arrive no later than Tuesday 04 June 2024.
A copy of the Agenda is given overleaf.
D GYE Honorary Secretary
Timing of meeting: Under its Constitution, the first Annual General Meeting of the new charity should be held within 18 months of its registration. This was impractical, and members are asked to note that the meeting is being held 10 weeks later than stipulated in the Constitution.
Email: info@iransociety.org Website: www.iransociety.org Registered Charity No: 1200807
ANNUAL GENERAL MEETING OF THE IRAN SOCIETY TO BE HELD AT 6.00 PM ON WEDNESDAY 05 JUNE 2024 AT THE ARMY & NAVY CLUB, 36 - 39 PALL MALL, LONDON SW1Y 5JN
A G E N D A
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The President’s Welcome: The Right Hon. The Lord Lamont of Lerwick.
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To receive the Annual Report of the Trustees.
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To receive the Financial Statements and Report of the Honorary Examiner.
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Re-election of Trustees, Members of Council and Officers.
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Any other business.
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THE IRAN SOCIETY (Registered Charity No. 1200807)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
| Contents | Page |
|---|---|
| Reference and Administrative Information | 4 |
| Report of the Trustees | 5 |
| Report of the Honorary Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes forming part of the financial statements | 9 |
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THE IRAN SOCIETY
Reference and Administrative Information
Charity number:
1200807
Trustees
The following Trustees held office during the period 24 October 2022 to 31 December 2023 and up to the date of this report:
Mr A C V Wynn Chairman Mr D Gye Hon Secretary Mr R M Mackenzie Hon Treasurer Hon J E Buchan Miss F Hart Mrs J Rady
Advisory Council
The Trustees are also members of the Advisory Council, which also includes:
The Right Hon. The Lord Lamont of Lerwick (President) Prof A M Ansari Mr D Blow Ms N Farzad Dr T Fitzherbert Dr S Horsman Prof V Martin Dr A Tahbaz
Registered Office:
16 Old Queen Street, London SW1H 9HP
Independent Examiner:
Mr J Ingham LLB, FCA
Bankers:
National Westminster Bank Plc, 1 Abbey Road, London NW10 7YQ
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THE IRAN SOCIETY
Report of the Trustees
Structure, governance and management
The Iran Society (‘the Society’ or ‘CIO’) was registered with the Charity Commission as a Charitable Incorporated Organisation (‘CIO’) on 24 October 2022, and is governed by its Constitution.
On 01 January 2023, all the activities, assets and liabilities of the former charity called The Iran Society (charity number 248678) were transferred to the CIO. The former charity was then merged with the CIO.
The Society is administered by the Trustees. There must be at least 3 trustees, being initially ex officio the Chairman, the Honorary Treasurer and the Honorary Secretary. Up to a further 3 trustees may be appointed from among the members of Council. One third of the trustees shall retire at each AGM after the first AGM.
The Trustees are also members of a Council which advises the Trustees on all matters for which the Trustees have responsibility. There shall be no fewer than 3 nor more than 14 members of Council, including Officers and Trustees, but excluding the President. One third of the members of the Council shall retire at each AGM after the first AGM.
Objectives and activities
The Objects for which the Society is established are to advance education in the subject of Iran, its peoples and culture (but so that in no event should the CIO take a position on, or take any part in, contemporary politics) in particular through the study of language, literature, art, history, religions, antiquities, usages, institutions and customs of Iran.
The principal activity of the Society is to hold a series of lectures on subjects connected with Iran, its peoples, and culture.
Travel grants are awarded to enable students from UK universities to further their studies in Iran or other Persianate countries on subjects deemed of interest to members.
Membership of the Society is open to all those with an interest in Iran. The Trustees have considered the Charity Commission guidance on public benefit and consider that the activities of the charity meet its charitable objects and provide a benefit to the public.
Achievements and performance
Our speakers during 2023 included Dr Homa Katouzian, a most entertaining discussion between Tom Holland and Prof Ali Ansari held at SOAS and attended by over 260 people, William Figueroa, Sean Strong, Mira Xenia Schwerda, Prof Edmund Hertzig, Sebastian Rose, and Prof Sussan Babaie, who entertained members at our Christmas party.
During 2023, a travel grant of £750 was awarded to a university student to assist with Persian studies, and £200 was granted to the Persian and Arabic manuscript symposium hosted by Deniz Vural at Edinburgh University.
Recently, a grant of £5,000 has been made to York University to support the digitisation and distribution of Professor Robert Hillenbrand’s valuable archive of photographs of Iranian buildings, mainly taken in the 1960s and 1970s.
The membership of the Society is made up of Ordinary members (214), Student members (20) and Honorary and Life members (30), making a total of 264 members.
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Financial review
Trustees’ Responsibilities
The Trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure for the year. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently,
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make judgements and estimates that are reasonable and prudent,
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.
The Trustees are responsible for keeping proper accounting records, safeguarding the assets of the charity, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Reserves Policies
The Trustees have given special consideration to the level of reserves required to carry on the Society’s activities, and have determined to apply the following principles:
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that the annual programme of lectures, secretariat, printing, website and other routine expenditures should be covered by subscriptions and income from the Society’s investments,
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that the Rosemary Halsted bequest be used as directed to provide travel grants to university students,
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that other activities should be paid for by charging those attending, subject to the level of the Society's reserves.
Financial Report
The Financial Statements show the Society’s financial position as at 31 December 2023. Total income for the period ended on that date was £15,169 (2022: £13,004). Total expenditure in the period was £16,651 (2022: £17,215). The result, excluding investment gains, was a deficit of £1,482, compared with a deficit of £4,211 recorded by the former charity in 2022. The value of the Society’s investments increased during the year by £14,064, or 11.8%. At 31 December 2023, the portfolio was valued at £125,700. The Society’s reserves at that date amounted to £139,124, of which £7,143 were classed as restricted funds. The Trustees consider that the financial position of the Society remains sound.
A WYNN Chairman
REPORT OF THE HONORARY EXAMINER TO THE MEMBERS OF THE IRAN SOCIETY ON THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023
In my opinion, the Financial Statements on pages 7 - 12 give a true and fair view of the state of the Society’s affairs at 31 December 2023 and of its Expenditure over Income for the period ended on that date.
John Ingham, LLB, FCA Hon Examiner
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THE IRAN SOCIETY FINANCIAL STATEMENTS Period ended 31 December 2023
STATEMENT OF FINANCIAL ACTIVITIES
| INCOMING RESOURCES Incoming resources from Note 2 charitable activities Investment income TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable Activities Note 3 Other expenditure Note 3 TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES TRANSFERS BETWEEN FUNDS GAINS/(LOSSES) ON INVESTMENTS Note 6 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
Unrestricted Restricted TOTAL £ £ £ 11,032 - 11,032 3,953 184 4,137 14,985 184 15,169 14,087 750 14,837 1,814 - 1,814 15,901 750 16,651 (916) (566) (1,482) - - - 13,154 910 14,064 12,238 344 12,582 119,743 6,799 126,542 131,981 7,143 139,124 Period 24.10.2022 to 31.12.2023 |
Charity no. 248678 |
|---|---|---|
| 2022 TOTAL |
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| £ 9,474 3,530 |
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| 13,004 15,214 2,001 |
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| 17,215 | ||
| (4,211) - (12,006) |
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| (16,217) 142,759 |
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| 126,542 |
The notes on pages 9 to 12 form part of these financial statements.
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THE IRAN SOCIETY
FINANCIAL STATEMENTS
Period ended 31 December 2023
BALANCE SHEET
| FIXED ASSETS Investments Note 6 CURRENT ASSETS Debtors Note 7 Cash at bank CREDITORS Amounts falling due within 1 year Note 8 NET CURRENT ASSETS NET ASSETS Note 9 FUNDS OF THE CHARITY Note 10 Restricted Fund General Fund TOTAL FUNDS |
Charity number 248678 31.12.2023 31.12.2022 £ £ 125,700 118,958 3,681 191 16,885 10,246 20,566 10,437 (7,142) (2,853) 13,424 7,584 139,124 126,542 7,143 6,799 131,981 119,743 139,124 126,542 |
|---|---|
The notes on pages 9 to 12 form part of these financial statements.
Approved by the Trustees on 18 April 2024 and signed on their behalf by:-
Hon Treasurer
R M Mackenzie
A Wynn Chairman
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THE IRAN SOCIETY
FINANCIAL STATEMENTS Period ended 31 December 2023
Notes to the financial statements
1 Accounting policies
1.1 Basis of accounting
The Financial Statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the Statement of Recommended Practice FRS102 “Accounting and Reporting by Charities”, issued in January 2019. The accounts have been prepared on a going concern basis.
1.2 Accounting period
The Financial Statements cover the period from the date of registration of the charity on 24 October 2022 to 31 December 2023.
1.3 Transfer of undertaking
On 01 January 2023, all the activities, assets and liabilities of The Iran Society (charity number 248678) were transferred to the newly-registered Charitable Incorporated Organisation (CIO) called The Iran Society (charity number 1200807).
The results of the The Iran Society (charity number 248678) for the year ended 31 December 2022 are shown for information only. This charity was merged into The Iran Society (charity number 1200807) with effect from 01 January 2023.
1.4 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
1.5 Incoming resources
Income is included in the Statement of Financial Activities ('SoFA') when the charity becomes entitled to
the resources, and the income and the amount can be quantified with reasonable accuracy. Members' subscriptions are included in the SoFA when received.
1.6 Expenditure and liabilities
Resources expended on charitable activities comprise the costs incurred by the charity in the delivery of its activities and services.
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
1.7 Fixed assets
Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the SoFA.
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Notes to the financial statements (cont)
2 Analysis of incoming resources
| Charitable activities Membership subscriptions Special events income Royalties on book sales Analysis of resources expended Charitable activities Lectures and other functions Special events expenditure Travel awards Bursary Other grants Other costs Website Other administration costs |
Charity number Charity number 1200807 248678 |
Charity number Charity number 1200807 248678 |
Charity number Charity number 1200807 248678 |
|---|---|---|---|
| Period 24.10.2022 to 31.12.2023 Unrestricted Designated Total |
Year ended 31.12.2022 Total |
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| £ £ £ 5,484 - 5,484 5,404 - 5,404 144 - 144 11,032 - 11,032 |
£ 5,350 4,124 - |
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| 9,474 | |||
| Period 24.10.2022 to 31.12.2023 Unrestricted Designated Total |
Year ended 31.12.2022 Total |
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| £ £ £ 4,098 - 4,098 4,789 - 4,789 - 750 750 - - - 5,200 - 5,200 14,087 750 14,837 1,302 - 1,302 512 - 512 1,814 - 1,814 |
3,294 4,420 2,000 5,000 500 |
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| 15,214 | |||
| 1,438 563 |
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| 2,001 |
- 3 Analysis of resources expended
4 Trustee Remuneration & Related Party Transactions
No trustees received any remuneration during the period .
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the period.
5 Taxation
As a charity, The Iran Society is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
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Notes to the financial statements (cont)
| 6 Investments General Fund BP Plc HSBC COIF Charities Global Equity Fund M&G Fixed Interest 'Charibond' Fund Restricted Fund COIF Charities Global Equity Fund Total investments at market value Reconciliation of investments Market value of investments at 01 January Disposals Net realised gains/(losses) Net unrealised gains/(losses) Market value of investments at 31 December 7 Debtors and prepayments Amounts falling due within one year Taxation - Gift Aid Other debtors Prepayments 8 Creditors and accruals Amounts falling due within one year Other creditors Accruals Deferred income |
2023 £ 11,649 - 103,452 3,456 118,557 7,143 125,700 2023 £ 118,958 (7,322) 798 13,266 125,700 2023 £ 894 2,587 200 3,681 2023 £ 5,000 2,062 80 7,142 |
2022 £ 11,868 6,524 90,605 3,347 |
|---|---|---|
| 112,344 6,614 |
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| 118,958 | ||
| 2022 £ 130,964 - - (12,006) |
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| 118,958 | ||
| 2022 £ - - 191 |
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| 191 | ||
| 2022 £ 2,000 828 25 |
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| 2,853 |
The charity did not have any outstanding guarantees to third parties or any debts secured on assets of the charity during or at the end of the period.
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Notes to the financial statements (cont)
9 Analysis of Net Assets Between Funds
| Investments Current assets Current liabilities Net assets at 31 December 2023 Movements in Funds Restricted fund Rosemary Halsted Fund Fund transferred on 01 January 2023 Movements during the period General funds General Fund Fund transferred on 01 January 2023 Movements during the period Total funds |
General Designated Total Funds Funds Funds £ £ £ 118,557 7,143 125,700 20,566 - 20,566 (7,142) - (7,142) 131,981 7,143 139,124 At Incoming Outgoing Gains and Trans- At 24.10.2022 Resources Resources Losses fers 31.12.2023 £ £ £ £ £ £ - 6,799 - - - 6,799 - 184 (750) 910 - 344 |
General Designated Total Funds Funds Funds £ £ £ 118,557 7,143 125,700 20,566 - 20,566 (7,142) - (7,142) |
|---|---|---|
| 131,981 7,143 139,124 |
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| - 6,983 (750) 910 - 7,143 |
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| - 119,743 - - - 119,743 - 14,985 (15,901) 13,154 - 12,238 |
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| - 134,728 (15,901) 13,154 - 131,981 |
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| - 141,711 (16,651) 14,064 - 139,124 |
10 Movements in Funds
Purpose of restricted fund
The Rosemary Halsted bequest was made to provide income for travel grants to students for research or visits to Iran.
Funds transferred on 01 January 2023
These amounts were all the funds belonging to the former charity,The Iran Society (charity number 248678).
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