## 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**
1. The President’s Welcome: The Right Hon. The Lord Lamont of Lerwick.
2. To receive the Annual Report of the Trustees.
3. To receive the Financial Statements and Report of the Honorary Examiner.
4. Re-election of Trustees, Members of Council and Officers.
5. Any other business.
2
## **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|
3
## **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
4
## **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.
5
## **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:
- select suitable accounting policies and apply them consistently,
- make judgements and estimates that are reasonable and prudent,
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,
- 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:
- 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,
- that the Rosemary Halsted bequest be used as directed to provide travel grants to university students,
- 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_
6
## **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|
|||£
9,474
3,530|
|||13,004
15,214
2,001|
|||17,215|
|||(4,211)
-
(12,006)|
|||(16,217)
142,759|
|||126,542|
The notes on pages 9 to 12 form part of these financial statements.
7
## **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_
8
## **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.
9
## **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|
||**£**
**£**
**£**
5,484
-
**5,484**
5,404
-
**5,404**
144
-
**144**
11,032
-
**11,032**||£
5,350
4,124
-|
||||9,474|
|||||
||**Period 24.10.2022**
**to 31.12.2023**
Unrestricted
Designated
**Total**||Year ended
31.12.2022
Total|
||£
£
**£**
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|
||||**15,214**|
||||1,438
563|
||||**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.
10
## **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|
|||118,958|
|||2022
£
130,964
-
-
(12,006)|
|||118,958|
|||2022
£
-
-
191|
|||191|
|||2022
£
2,000
828
25|
|||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.
11
## **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**|
||-
6,983
(750)
910
-
**7,143**||
||-
119,743
-
-
-
**119,743**
-
14,985
(15,901)
13,154
-
**12,238**||
||-
134,728
(15,901)
13,154
-
**131,981**||
||||
||-
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).
12