2025-12-31-accounts - Philosophical Society Of England

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PHILOSOPHICAL SOCIETY OF ENGLAND

REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2025

Charity Number 1205921

PHILOSOPHICAL SOCIETY OF ENGLAND

ANNUAL REPORT AND FINANCIAL STATEMENTS

For the year ended 31 December 2025

Contents	Page
Trustees annual report	1 to 3
Independent examiners report	4
Statement of Receipts and Payments	5
Statement of Assets and Liabilities	6
Notes to the financial statements	7 to 12

The Philosophical Society of England TRUSTEES ANNUAL REPORT

For the year ended 31 December 2025

The trustees are pleased to present their annual trustees report together with the financial statements of the charity for the year ended 31 December 2025.

The financial statements comply with the Charities Act 2022, the Constitution of The Philosophical Society of England adopted on 15 January 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 October 2019).

1. Objectives and Activities

To advance the education of the public by promoting the study of philosophy through the provision of lectures, conferences, internet discussions, publication of books, journals, other media and study groups.

2. Public Benefit Statement

The benefit of the Society's purposes is to advance the education of the public by promoting the study of philosophy.

3. Achievements and Performance

The Society has continued to provide subscribers with printed and digital copies of its journal 'The Philosopher' and has expanded its online and in-person activities. Traffic to the website of 'The Philosopher' increased this year.

4. Financial review

Review of the year

The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.

During the year the Charity had income of £24,571 and expenditure of £29,093. There was an operating deficit of £4,522.

At 31 December 2025 the Charity had net assets of £10,265.

Reserves policy/Going concern

The Trustees consider the level of reserves £10,265, prudent for the Charity at this time taking into account potential liabilities in the event that the charity ceased. Our Reserves Policy is reviewed annually.

5. Plans for future periods

Significant changes to the editorial structure and the management of the activities of the Society were introduced during the year, to accommodate the change from its unincorporated structure to that of a charitable incorporated organisation (CIO) completed in 2024.

The Philosophical Society of England TRUSTEES ANNUAL REPORT

For the year ended 31 December 2025

6. Reference and administrative details of the charity, its trustees and advisors

Registered charity name

The Philosophical Society of England

Charity number

Registered office

1205921 6 Craghall Dene Avenue Newcastle upon Tyne NE3 1QR

T rustees and Members of the Board

Michael C Bavidge Peter Murray Alan Shepherd Andres Saint de Sicilia

Chief Executive and Senior staff members

None

Independent Examiner

Doug Maltman FMAAT Connected Voice Business Services One Strawberry Lane Newcastle upon Tyne. NE1 4BX.

Bankers

Barclays bank Plc

7. Structure, governance and management

Governing Document - as approved 15th January 2011

Recruitment and Appointment of the Board

Board Induction and Training

New Board Members are introduced to the work of the organisation and informed of their legal roles and responsibilities at an induction meeting. The induction and training programme for new Board Members includes:

A briefing by the Chair or a Trustee
An explanation of roles and responsibilities as a Board Member
Copies of the main charity documents including the Constitution and the Financial Statements
Copies of recent board papers and management accounts.
A copy of the Charity Commission publication "How to be an Effective Trustee"

The Philosophical Society of England TRUSTEES ANNUAL REPORT For the year ended 31 December 2025

8. Statement of Trustee 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).

Charity SORP requires the trustees 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 incoming resources and application of resources, including the receipts and payments of the charity for that year. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP.
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 in operation.

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 10.04.2026 and signed on their behalf by:

M C Bavidge Chair

PHILOSOPHICAL SOCIETY OF ENGLAND

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 December 2025

I report on the financial statements of Philosophical Society of England for the year ended 31 December 2025, which are set out on pages 5 to 12.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 ("the Charities Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

h examine the accounts under section 145 of the Charities Act,
h to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
h to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

h the accounting records were not kept in accordance with section 130 of the Charities Act; or
h the accounts did not accord with the accounting records; or
h the accounts did 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 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.

Doug Maltman FMAAT Fellow Member of the Association of Accountancy Technicians Connected Voice Business Services One Strawberry Lane Newcastle upon Tyne NE1 4BX Date: 10.04.2026

PHILOSOPHICAL SOCIETY OF ENGLAND

STATEMENT OF RECEIPTS AND PAYMENT

For the year ended 31 December 2025

----- Start of picture text -----
Unrestricted Unrestricted Total Total
Funds Funds 2025 For the
period 27
November
2023 to 31
December
2024
£ £ £ £
Receipts from:
Donations and legacies 5 22,803 - 22,803 16,925
Charitable activities
Grants and contracts 6 - - - 3,000
Other trading activities 7 1,767 - 1,767 11,798
Investments 8 1 - 1 1
Total receipts 24,571 - 24,571 31,724
Payments on:
Raising funds 9 - - - 867
Charitable activities
Operation of the charity 10 29,093 - 29,093 23,219
Total payments 29,093 - 29,093 24,086
Reconciliation of funds
Net of receipts/payments ( 4,522 ) - ( 4,522 ) 7,638
Cash funds brought forward 14,787 - 14,787 -
Exceptional item 20 - - - 7,149
Cash carried forward 10,265 - 10,265 14,787
Notes
----- End of picture text -----

The Receipts and Payments Statement includes all gains and losses recognised in the year. All receipts and payments derive from continuing activities.

The notes on pages 7 to 12 form an integral part of these accounts.

Charity Number 1205921

PHILOSOPHICAL SOCIETY OF ENGLAND

STATEMENT OF ASSETS AND LIABILITIES

As at 31 December 2025

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2025 For the
period 27
November
2023 to 31
December
2024
£ £ £ £
Cash funds
Cash at bank and in hand 15 10,265 - 10,265 10,265
Liabilities: amounts falling due within
one year 16 480 420
These financial statements were approved by the Board on: 10.04.2026
and are signed on its behalf by: M C Bavidge
Chair
Notes
----- End of picture text -----

PHILOSOPHICAL SOCIETY OF ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2025

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2 Basis of accounting

2.1 Basis of preparation

The accounts have been prepared on the receipts and payments basis. An audit is not required by the charity's constitution and has not been requested by the trustees.

The accounts 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 UK and Republic of Ireland.

Philosophical Society of England meets the definition of a public benefit entity under FRS 102.

2.2 Preparation of the accounts on a going concern basis

The charity reported total unrestricted funds at the year end of £10,265 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 to 18 months is secure and that on this basis the charity is a going concern.

3 Receipts

3.1 Recognition of receipts

Receipts are recognised when the charity has received the resources, any performance conditions attached to the item(s) of receipt have been met.

3.2 Offsetting

There has been no offsetting of receipts and payments, unless required or permitted by SORP.

3.3 Grants and donations

Receipts from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has received the funds, any performance conditions attached to the grants have been met.

3.4 Volunteer help

The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.

3.5 Interest receivable

Interest on funds held on deposit is included when received.

PHILOSOPHICAL SOCIETY OF ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2025

3.6 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

4 Expenditure and liabilities

4.1 Liability recognition

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

4.2 Charitable activities

Payments on charitable activities includes the costs of work and other activities undertaken to further the purposes of the charity and their associated support costs.

4.3 Governance and support costs

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

4.4 Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the payment was incurred.

4.5 Liabilities

The charity has liabilities which are measured at settlement amounts less any trade discounts.

PHILOSOPHICAL SOCIETY OF ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2025

Analysis of receipts

5 6 7 8	Donations and legacies Charitable activities Income from grants Other trading activities Exact editions Individual journals and book sales Receipts from investments Subscriptions Donations Contribution - Boston Review Patreon Other Single issues Bank interest Royal Institute Grant	Unrestricted Funds £ 17,266 5,537 - - 22,803 - - - - - 1,767 1,767 1 1	Restricted Funds £ - - - - - - - - - - - - - -	Total 2025 £ 17,266 5,537 - - 22,803 - - - - - 1,767 1,767 1 1	Total For the period 27 November 2023 to 31 December 2024 £ 5,673 10,281 571 400 16,925 3,000 3,000 2,621 5,767 3,410 - 11,798 1 1

Receipts were £24,571 (For the period 27 November 2023 to 31 December 2024: £31,724) of which £24,571 was unrestricted or designated (For the period 27 November 2023 to 31 December 2024: £31,724) and £0 was restricted (For the period 27 November 2023 to 31 December 2024: £0)

PHILOSOPHICAL SOCIETY OF ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2025

Analysis of payments on charitable activities

9 10	*Raising funds* *Charitable activities* Direct costs Event costs Support costs Governance costs IT costs Contributors Subscriptions and fees Transcription work Editing work Content creation Magazine postage Independent examiner's fees for reporting on the accounts Production and distribution Professional fees Other Room hire Printing Admin Essay contribution Design	Unrestricted Funds £ - - - - - - - 11,395 14,442 2,355 19 - - - - 462 - 420 29,093	Restricted Funds £ - - - - - - - - - - - - - - - - - - -	Total 2025 £ - - - - - - - 11,395 14,442 2,355 19 - - - - 462 - 420 29,093	Total For the period 27 November 2023 to 31 December 2024 £ 867 867 5,091 1,925 1,585 400 2,800 - - 3,257 - 700 3,921 600 21 1,549 1,010 360 23,219

Payments on charitable activities were £29,093 (For the period 27 November 2023 to 31 December 2024: £24,086) of which £29,093 was unrestricted or designated (For the period 27 November 2023 to 31 December 2024: £24,086)

PHILOSOPHICAL SOCIETY OF ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2025

11 Fees for examination of the accounts

		For the
		period 27
		November
		2023 to 31
		December
	2025	2024
	£	£
Independent examiner's fees for reporting on the accounts		420 360
		420 360
There were no other fees paid to the examiner (For the period 2

12 Staff numbers

the charity currently has no employees.

13 Transactions with trustees

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Trustees' expenses

No trustee expenses have been incurred in the year.

Transaction(s) with related parties

There have been no related party transactions in the reporting period.

14 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

15 Cash at bank and in hand

Current account Deposit account	2025 £ 10,214 51 10,265	2024 £ 14,737 50 14,787

16 Liabilities (payable within 1 year)

Independent examiner's fees	2025 £ 480 480	2024 £ 420 420

PHILOSOPHICAL SOCIETY OF ENGLAND

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2025

17 Events after the end of the reporting period

No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

18 Analysis of charitable funds

Analysis of movements in unrestricted funds As at 31 December 2024

Unrestricted funds General unrestricted fund *Totals* Purpose of unrestricted funds General unrestricted fund	Fund balances brought Incoming Resources forward resources expended £ £ £ 14,787 24,571 ( 29,093 ) 14,787 24,571 ( 29,093 ) The 'free reserves' of the charity	Transfers £ - -	Fund balances carried forward £ 10,265 10,265

19 Capital commitments

As at 31 December 2025, the charity had no capital commitments (31 December 2024-£nil)

20 Exceptional Item Transfer of funds from Charity 1140044 to Charity 1205921	Unrestricted Funds £ - -	Restricted Funds £ - -	Total 2025 £ - -	Total 2024 £ 7,149 7,149