ANNUAL REPORT
FOR THE YEAR 2022
Since our last report, the first two volumes of Sir John Baker’s edition of Reports from the Notebooks of Edward Coke (volumes 136 for 2019 and 137 for 2020) have been printed and dispatched to members. Three further volumes of this edition have been completed and will be distributed shortly. Three lectures have also been printed: Professor Jones’s lecture ‘Sixteenth Century England: a View from the Trusts Cases’, Professor Brand’s lecture ‘Magna Carta and its Contribution to the Development of English Law, 1215-1307’ (2015) and Professor Helmholz’s lecture, ‘Shakespeare and the European Ius Commune ’ (2017). They will be distributed to members in due course.
2022 saw the third Selden Society and the Inns of Court Annual Lecture. On 1 November, Lord Judge spoke in a packed hall at the Middle Temple on the subject of ‘1622 The King’s Prerogative – 2022 The Prime Minister’s Prerogative’. The event was also simultaneously streamed online and attracted a large international audience. A recording of this event, as well as a transcript of the lecture, can be accessed via our website, as well as through the Middle Temple’s website. The fourth such lecture will be delivered on 29 November 2023 at Gray’s Inn, by Baroness Hale, who will speak about the Guardianship of Infants Act 1925. The Society is grateful to the convenors of the history societies at each of the Inns for their work in maintaining this series.
In December 2022, Mr Anthony Taussig stepped down from the Council, which he first joined in 2000. In 2007, the Society published, as vol. 15 of the Supplementary Series, A Catalogue of the Manuscripts of Anthony Taussig , detailing the remarkable collection of legal manuscripts which he had collected over many years. In 2009, he also gave the annual lecture to the Selden Society, entitled ‘Collecting English Legal Manuscripts.’ As a Council member he also gave great services to the Finance Committee over many years. He was also a Trustee of the Society. Under the general law relating to charities, all Council members are trustees, but the Society’s Rules further provide for persons to be appointed for the purpose of holding the Society’s copyrights and other property.
Mr Richard Bagley stepped down from the Council in December 2022, having been the representative of the Law Society since 2004. Mr John Howell KC, who first joined the Council in 2003, will step down as the representative of the Middle Temple when his term expires at the Annual General Meeting in July. The Council is grateful to both Mr Bagley and Mr Howell for their long service on the Council.
It is with sorrow that we record the death on 23 December 2020 of our honorary correspondent for New South Wales, Justice L. J. (Bill) Priestley.
At the meeting on 14th July 2022, the following were elected as members of the Council:
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(a) Election of President: His Hon. Donald Cryan was elected.
(b) Vacancies in the fifteen elected members:
Dr Brand Dr Crook Philip Jones, Q.C. Mr Le Poidevin, Q.C. Professor Loengard Professor Lewis The Hon Mr Justice Smith Professor Probert The Revd Professor Watkin Professor Alice Taylor
- (c) Representative of the British Academy:
Dr Maddicott
- (d) Representative of the Law Society:
Mr Bagley was elected to fill this position until the end of the year.
Publications: Since the last report, the first two volumes of Professor Sir John Baker’s edition of Reports from the Notebooks of Edward Coke , volumes 136 for 2019 and 137 for 2020, covering the period 1572 to 1588 have been issued to members. The subsequent three volumes of the edition, volumes 138 for 2021 to 140 for 2023, covering the period 1591 to 1600 – including Coke’s time as solicitor-general and the earlier part of his tenure as attorney-general – are in press and will be issued to members in summer 2023, thus bringing the annual series up to date.
Volume 141 for 2024 will be Mr Le Poidevin’s edition of the fifteenth-century reports taken by the Wiltshire apprentice John Bryt, the earliest reports in the year book tradition which can be attributed to an identified reporter. This will be followed, as volume 142 for 2025, by Dr Williams’s edition of Star Chamber reports for the period 1625 to 1628. Volume 143 for 2026 will move into the eighteenth century in the form of Professor Gallanis’s edition of the judicial notes of Sir Dudley Ryder, chief justice of the King’s Bench from 1754-56. Ryder took trial notes in shorthand, giving his notes particular interest as containing a level of detail not found in other sets of eighteenth-century judicial notes. Volume 144 for 2027 will be an edition by Professor Phillipp Schofield and Dr Christopher Briggs of litigation in manorial courts in the thirteenth and fourteenth centuries, in particular in relation to personal actions in debt, which will connect with the edition by Professors Bonfield and Poos of actions in manorial courts relating to property law and family law in the period 1250-1500 which formed volume 114 for 1997. Volume 145 for 2028 will be the fifth volume of Professor Brand’s Earliest English Law Reports series (the first four volumes of which are volumes 111 (for 1995), 112 (for 1996), 122 (for 2005) and 123 (for 2006)).
Other annual volumes in preparation include Dr Ramsay’s edition of material relating to the High Court of Chivalry in the fourteenth and fifteenth centuries, and two further volumes of Professor Baker’s Reports from the Notebooks of Edward Coke .
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In the supplementary series, work continues on Mr Hoffman’s edition of the records of the Northern Circuit of the Bar, 1763-1802.
In the annual lecture series, three lectures (those delivered in 2014 by Dr Jones, in 2015 by Professor Brand, and in 2017 by Professor Helmholz) are in press and it is hoped to send them to members with the forthcoming despatch of annual volumes.
Finance: The accounts are printed as usual at the end of this report. The Finance Committee continues to monitor the performance of the Society’s investments.
Membership: Membership at 31 December 2022 stood at 1289. The details, with the previous year’s bracketed, are:
| United Kingdom Individuals United Kingdom Institutions Australia Canada New Zealand Other Commonwealth USA Individuals USA Institutions Other Overseas |
473 79 140 45 13 13 327 125 74 1289 |
(446) (85) (185) (46) (15) (13) (313) (133) (74) (1310) |
|---|---|---|
The Council extend a warm welcome to the new members. Their names appear in the Appendix.
Annual General Meeting 2023: Members will have received notice of the meeting on Tuesday 4th July 2023, which will take place at the Inner Temple. An agenda accompanies this report. At the end of the meeting there will be a lecture by Professor Margaret McGlynn. This will be followed by a reception.
The Selden Society in Australia: Our Honorary Secretary and Treasurer for Australia, Mr David Bratchford, has stepped down from these positions, having retired as Librarian of the Supreme Court of Queensland in August 2022. The Council expressed the warm thanks of the Society to Mr Bratchford for his service. We are also delighted to welcome as his replacement the new Librarian, Marian Morgan-Bindon.
The Selden Society continued to host a series of lectures at the Library of the Supreme Court of Queensland in Brisbane. In 2022, the following lectures were given:
The Hon Justice Patrick Keane AC 24 March 2022: 1922: after Ryan, the storm
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Sir Ross Cranston
- 7 April 2022: Making law through practice: examples of commercial law
Dr Andrew Stumer and Emeritus Professor Kay Saunders AO
18 August 2022: Kidnapping and slavery in Queensland: The Jason and the Hopeful
The Hon Keith Mason AC KC
3 November 2022: Sir Frederick Jordan: Australia's most influential judge?
The lectures are available as podcasts or video recordings on the Australian chapter’s website: http://legalheritage.sclqld.org.au/selden-society.
Thanks : Thanks are due to the overseas Treasurers and Secretaries for their ready and efficient help with the administration of their section of the membership; to the Honorary Correspondents for their representation; to the auditors, BDO; to the Inner Temple, which has hosted our meetings; to the Literary Director; and to the Treasurer and Secretary and their assistants.
D. Cryan President
4
Selden Society
Report of the Trustees for the year ended 31 December 2022
The Trustees present their report with the financial statements of the Society for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note one to the accounts and comply with the Charity’s governing document.
Constitution
The Selden Society is an unincorporated association constituted as a trust. The internal organisation of the Society is subject to a set of Rules, a copy of which is sent to every member. The Society is a registered charity (Registration Number 211536).
Objectives and activities
The purposes of the Society are to encourage the study and to advance the knowledge of the history of English law, especially by the publication of original documents, the reprinting or editing of works of rarity or importance, and the compiling of information as a tool for further research.
Achievements and Performance
During the year 2022, the Society continued its work of editing legal manuscripts for publication and hosted a number of meetings in the United Kingdom and overseas to promote the study of English legal history. It also supported scholarship by the provision of a PhD studentship.
Structure, governance and management
The management of the affairs of the Society are vested in a President, Vice-Presidents, and the Council, who are elected at the annual general meeting for a term of three years. The officers of the Society are the Treasurer, Literary Director and Secretary, who are ex officio members of the Council. Three Trustees, also ex officio members of the Council, hold the copyrights and property of the Society. The Inns of Court and Law Society are each entitled to nominate one representative on the Council; and the British Academy may nominate two such.
Administration
The office of the Society is at the School of Law Building, Queen Mary, 337 Mile End Road, London, E1 4NS.
Bankers
Coutts & Co of 440 Strand, London, WC2R 0QS
Independent examiner
Heather Wheelhouse ACA partner at BDO LLP, Bridgewater House, Finzels Reach, Counterslip, Bristol BS1 6BX.
Investment
The Council have unrestricted discretion in all matters concerning the investment of the Society’s monies. Their policy is to maintain a reasonable balance between capital and income.
Reserves
The policy of the Council is to maintain substantial reserves to meet the cost of production, storage and dispatch of volumes, administration costs and new initiatives. The Council is continuing to assess the possible impact of the cost of living crisis on the Society’s financial outlook. However, the Council is confident that its assets are sufficient to meet our likely expenses in the shortto medium term. The reserves at the year end were £2,054,931 (2021: £2,262,082) including designated funds of £9,190 (2021: £5,190) and restricted funds of £nil (2021: £nil).
Financial Review
The results for the year are set out in the statement of financial activities on page 9.
5
Selden Society
Report of the trustees
for the year ended 31 December 2022 (continued)
Risks
The Council have reviewed the risks applicable to the Society and consider that they are adequately provided for.
Current Activities
In the year under report the Society maintained its programme of preparing editions of unpublished manuscripts for publication. It intends to continue in the present year with the publication of volumes for the annual series, and with the preparation of occasional publications such as its Supplementary Series and lectures, and with its other customary activities.
Appointment of Trustees
All Council members are Trustees and are elected or appointed in accordance with the constitution of the Society.
Public Benefit
The Trustees have given due consideration to the Charity Commission’s published guidance of the operation of the Public Benefit requirement and are satisfied that the activities of the charity undertaken during the year meet the Public Benefit test.
Trustees
The Trustees of the society during the year and currently are:
Mr D AINGER Mr P JONES, KC The Hon. M S ARNOLD Mr N LE POIDEVIN, KC Mr R BAGLEY – resigned 8 December 2022 The Rev. Professor A D E LEWIS Professor Sir John BAKER Professor M LOBBAN Professor P BRAND Professor J LOENGARD Dr S BRAND Professor C MACMILLAN Professor W R CORNISH – deceased 7 Jan 2022 Dr M MACNAIR Dr D CROOK Dr J MADDICOTT Dr S CUNNINGHAM Professor W PREST HH D CRYAN Professor R PROBERT Professor CHARLES DONAHUE Professor G SEABOURNE Professor G GARNETT Sir M SMITH Professor J GETZLER Professor C STEBBINGS Dr E GOLDRING Professor J TATE Professor R H HELMHOLZ Professor A TAYLOR Mr J HOWELL, KC Mr A C TAUSSIG – resigned 8 December 2022 Professor J G HUDSON The Rev. Professor TG WATKIN Professor D J IBBETSON Dr I WILLIAMS Dr N G JONES
On behalf of the Trustees
Professor M Lobban Secretary
Date 16 May 2023
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SELDEN SOCIETY
Registered Charity 211536
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
CONTENTS
| Page | |
|---|---|
| Report of the Independent Examiner | 8 |
| Statement of Financial Activities | 9-10 |
| Balance Sheet | 11 |
| Notes forming part of the Financial Statements | 12-19 |
7
Selden Society
Independent examiner's report to the Trustees of Selden Society
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SELDEN SOCIETY
I report to the Trustees on my examination of the accounts of the Society for the year ended 31 December 2022, which are set out on pages 16 to 24.
This report is made solely to the charity's trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity's trustees as a body, for my work, for this report, or for the statement I have made.
Responsibilities and basis for report
As the Charity Trustees of the Society 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 Society’s accounts carried out under section 145 of the 2011 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements concerning the form and content of the 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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.
Heather Wheelhouse ACA BDO LLP Bristol United Kingdom
Date: 18 May 2023
8
Statement of financial activities for the year ended 31 December 2022
| Unrestricted Funds Restricted Funds Note General Designated Restricted fund Fund Fund £ £ £ Income Income from: - Voluntary income – donations 2,315 4,000 7,000 - Income on investments 3 57,242 - - Charitable activities 2 57,559 - - __ __ __ Total income 117,116 4,000 7,000 __ __ __ Expenditure Expenditure on: Charitable activities 4 (140,959) - (7,000) __ __ __ Total expenditure (140,959) - (7,000) __ __ __ Net (expenditure)/ income before investment gains (23,843) 4,000 - Net (losses)/gains on investments 6 (178,118) - - __ __ __ Net (expenditure)/income (201,961) 4,000 - Net movement in funds (201,961) 4,000 - __ __ __ Fund balances at 1 January 2022 2,256,892 5,190 - __ __ __ Fund balance at 31 December 2022 10 2,054,931 9,190 - _ _ __ |
Total 2022 £ 13,315 57,242 57,559 _ 128,116 _ (147,959) _ (147,959) __ (19,843) (178,118) __ (197,961) (197,961) __ 2,262,082 __ 2,064,121 _ |
|---|---|
All amounts relate to continuing activities.
The notes on pages 12 to 19 form part of these financial statements.
9
Statement of financial activities for the year ended 31 December 2021
Unrestricted Funds
| Note Income Income from: - Voluntary income – donations - Income on investments 3 Charitable activities 2 Total income Expenditure Expenditure on: Charitable activities 4 Total expenditure Net (losses)/ gains investment Gains Net (losses)/gains on investments 6 Net (expenditure)/Income Net movement in funds Fund balances at 1 January 2021 Fund balance at 31 December 2021 10 |
General Designated fund Fund £ £ 7,442 - 50,918 - 45,560 - __ __ 103,920 - __ __ (118,635) - __ __ (118,635) - __ __ (14,715) - 262,010 - __ __ 247,295 - 247,295 __ __ 2,009,597 5,190 __ __ 2,256,892 5,190 _ _ |
Total 2021 £ 7,442 50,918 45,560 __ 103,920 __ (118,635) __ (118,635) __ (14,715) 262,010 __ 247,295 247,295 __ 2,014,787 __ 2,262,082 __ |
|---|---|---|
All amounts relate to continuing activities.
The notes on pages 12 to 19 form part of these financial statements.
10
Balance sheet at 31 December 2022
| Charity number 211536 Note 2022 £ Fixed assets Investments 6 Current assets Debtors 7 61,425 Cash at bank and in hand 8 256,697 __ 318,122 Creditors: amounts falling due within one year 9 (54,012) __ Net current assets Total net assets 10 Funds of the charity Restricted funds: Unrestricted funds: 11 General fund 11 Designated funds 11 Total funds |
2022 2021 £ £ 1,800,011 75,891 261,482 _ 337,373 (63,466) _ 264,110 __ 2,064,121 _ - __ 2,054,931 9,190 __ 2,064,121 _ |
2021 £ 1,988,175 273,907 _ 2,262,082 _ |
|---|---|---|
- _ 2,256,892 5,190 _ 2,262,082 __ |
Approved and authorised for issue by the Council on 16 May 2023
C. MacMillan Treasurer
The notes on pages 12 to 19 form part of these financial statements.
11
Notes forming part of the financial statements for the year ended 31 December 2022
1 Accounting policies
(a) Basis of preparation
Selden Society is a registered charity (Charity Number: 211536) and is an unincorporated association constituted as a trust, incorporated in England and Wales and domiciled in England. The registered office is Queen Mary University of London, 327 Mile End Road, London E1 4NS.
The presentational and functional currency of these financial statements is GBP. Values are rounded to the nearest pound.
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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), and the Charities Act 2011.
The financial statements have been prepared to give a “true and fair” view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent to provide a “true and fair” view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
Going Concern
The financial statements have been prepared under the historical cost convention and are on a going concern basis. The Trustees confirm that at the time of approving the financial statements in May 2023 that there are no material uncertainties regarding the charity’s ability to continue in operational existence for the foreseeable future.
As a grant making charity with few overheads and ongoing commitments, and having taken into consideration the impact of the cost of living crisis on its anticipated future financial performance, the trustees consider that they can sustain a comparable level of activity for at least the next 12 months from the approval of the financial statements. On the date of approval of the financial statements the Society has sufficient liquid cash funds available and further substantial investment funds. For these reasons the trustees continue to adopt the going concern basis in preparing the financial statements
Income
UK and overseas subscription income is recognised when receivable and applied over the relevant period. Subscriptions from overseas members are stated net of exchange gains and losses.
US subscriptions are recognised when receivable in the US. Subscriptions received in the United States of America are shown as subscription debtors until the money is transferred to the UK, until then these are held in separate US bank accounts.
Royalties are recognised on a received basis.
.
12
Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
Voluntary donations are accounted for when received.
Investment income
Dividends from listed investments are accounted for when receivable. Interest on deposits is taken into account on an accruals basis. All investment income is stated inclusive of related taxation recoverable.
Foreign currencies
Assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to a particular heading, they have been allocated to activities on a basis consistent with use of the resources.
The cost of publications is recognised in the year to which the publication relates. No value has been placed in the financial statements on publications stock.
Governance costs are those incurred in connection with Governance of the charity and compliance with constitutional and statutory requirements.
Investments
Investments are stated at ‘bid’ prices at the balance sheet date. Any gains or losses on revaluation are taken to the Statement of Financial Activities.
Funds of the Charity
The charity’s funds are segregated between:
(a) Designated funds - represent monies, which have been designated for a specific purpose by the Council.
(b) General fund - represents undesignated monies retained, which provide the working capital to enable the Council to carry out its charitable activities.
(c) Restricted funds – represent funds held on specific trusts. The specific trusts may be declared by the donor when making the gift or may result from the terms of an appeal for funds.
The Council regularly reviews the level of Income Funds and the strategic needs of the Society. The publications produced by the Society require income to be generated by its investments at a level sufficient to supplement subscription income to produce the income required to finance the publications. As such, the level of reserves is monitored regularly by the council and maintained at a level appropriate to meet the on-going objectives of the Society.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
13
Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Judgements
In the application of the charity's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There were no judgment or material estimation uncertainties affecting the reported financial performance in the current or prior year.
2 Activities in furtherance of charity objects
| Subscriptions from members - United Kingdom and overseas members Sale of publications Royalties Total |
2022 £ 53,457 __ 53,457 456 3,646 __ 57,559 __ |
2021 £ 42,869 _ 42,869 477 2,214 _ 45,560 __ |
|---|---|---|
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Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
| 3 Investment income Dividends from listed investments Interest on bank and other deposits Foreign exchange (loss)/gain |
2022 £ 57,657 375 (790) __ 57,242 __ |
2021 £ 49,343 55 1,520 _ 50,918 _ |
|---|---|---|
All investment income is derived from investments held within the United Kingdom.
| 4 Resources expended in furtherance of charity objects Cost of production, binding and dispatch Contribution for services provided by Queen Mary College Literary director honorarium Secretary’s and clerical salaries Secretary’s disbursements Investment expenses Studentships General expenses Accountancy Costs Independent examination costs Annual Report Treasurer’s Honorarium Bank Fees PayPal Fees Grant expenditure AGM |
2022 £ 74,870 14,947 4,000 6,262 - 11,063 22,430 1,185 1,797 2,450 2,378 4,000 576 466 - 1,535 __ 147,959 |
2021 £ 62,415 11,433 4,000 5,975 71 10,333 6,577 294 1,700 2,000 2,192 4,000 684 369 5,000 1,592 __ 118,635 |
|---|---|---|
There were no employees whose emoluments exceeded £60,000 per annum (2021 – None). The Society does not have any direct employees (2021: nil).
5 Taxation
eentitled to tax exemptions on income and gains, properly applied for its charitable purposes.
.
15
Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
| 6 Investments Market value at 1 January 2022 Additions Disposals Increase/(decrease) in cash Realised and unrealised gains on investments Market value at 31 December 2022 All investments are held within the United Kingdom and comprise: Fixed interest securities Other listed investments Cash deposit Investments representing over 5% by value of the portfolio are as follows: M&G Securities Limited Charifund shares Vanguard 7 Debtors Unremitted subscriptions due Accrued Income Other debtors Tax recoverable |
2022 £ 1,988,175 190,737 (283,077) 82,294 (178,118) __ 1,800,011 _ 2022 £ 45,679 1,653,382 100,950 __ 1,800,011 _ 2022 £ 285,587 - __ 285,587 _ 2022 £ 60,436 - 300 689 _ 61,425 __ |
2021 £ 1,735,028 44,554 (46,868) (6,549) 262,010 _ 1,988,175 _ 2021 £ 44,361 1,925,158 18,656 _ 1,988,175 _ 2021 £ 302,432 124,780 _ 427,212 _ 2021 £ 63,894 9,087 - 2,910 _ 75,891 _ |
2021 £ 1,735,028 44,554 (46,868) (6,549) 262,010 _ 1,988,175 _ 2021 £ 44,361 1,925,158 18,656 _ 1,988,175 _ 2021 £ 302,432 124,780 _ 427,212 _ 2021 £ 63,894 9,087 - 2,910 _ 75,891 _ |
|---|---|---|---|
2021 £ 302,432 124,780 _ 427,212 _ |
|||
2021 £ 63,894 9,087 - 2,910 __ |
|||
75,891 __ |
16
Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
| 8 Cash and cash equivalents Cash at Bank and in hand 9 Creditors: amounts falling due within one year Trade Creditors Accrued Expenses 10 Analysis of net assets between funds 31 December 2022 Investments Current assets Current liabilities Total net assets Analysis of net assets between funds 31 December 2021 Investments Current assets Current liabilities Total net assets |
2022 £ 256,697 _ 2022 £ 3,823 50,189 __ 54,012 _ General Restricted Designated fund Fund Fund £ £ £ 1,800,011 - - 308,932 - 9,190 (54,012) - - _ _ _ 2,054,931 - 9,190 _ _ _ General Restricted Designated fund Fund Fund £ £ £ 1,988,175 - - 332,183 - 5,190 (63,466) - - _ _ _ 2,256,892 - 5,190 _ _ _ |
2021 £ 261,482 _ 2021 £ 27,766 35,700 _ 63,466 _ Total Funds £ 1,800,011 318,122 (54,012) _ 2,064,121 _ Total Funds £ 1,988,175 337,373 (63,466) _ 2,262,082 __ |
2021 £ 261,482 __ |
|---|---|---|---|
2021 £ 27,766 35,700 _ 63,466 _ |
17
Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
| 11 Funds Restricted funds: Stenton Fund Committee Designated funds: David Yale Prize fund General fund: Designated funds: David Yale Prize fund General fund: |
Balance at 1 January Incoming Resources Loss on 2022 Resources expended Investments £ £ £ £ - 7,000 (7,000) - _ __ __ __ 5,190 4,000 - - _ _ _ _ 2,256,892 117,116 (140,959) (178,118) _ _ _ _ 2,262,082 128,116 (147,959) (178,118) ________ ________ ________ ________ Balance at 1 January Incoming Resources Gain on 2021 Resources Expended Investments £ £ £ £ 5,190 - - - 2,009,597 103,920 (118,635) 262,010 _ _ __ ___ 2,014,787 103,920 (118,635) 262,010 _ _ _ _ |
Balance at 31 December Transfers 2022 £ £ - - _ __ - 9,190 _ __ - 2,054,931 _ ___ - 2,064,121 _ _ Balance at 31 December Transfers 2021 £ £ - 5,190 - 2,256,892 _ __ - 2,262,082 _ _ |
|---|---|---|
The general fund includes expendable endowment, see accounting policies.
Purposes of restricted and designated funds:
David Yale Prize Fund: the fund awards a prize for original research by young scholars. Of the £9,190, it is expected that £750 will be spent per annum.
Stenton Fund During the year £7000 was donated towards the costs for Sir John Baker’s third volume of the edition of Committee: Sir Edward Coke’s Notebooks. This was spent in the year ended 31 December 2022.
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Notes forming part of the financial statements for the year ended 31 December 2022 (continued)
12 Related parties
Trustee Dr Neil Jones has accrued £4,000 (2021: £4,000) in relation to consultancy as literary director. During the year £4,000 was paid and the outstanding amount due at the year end was £nil (2021 - £nil).
Trustee C MacMillan has accrued £4,000 (2021 - £4,000) for treasury services during the year. £12,000 was outstanding at the year end (2021 - £8,000).
Trustee M Lobban has accrued £4,000 (2010 - £4,000) for secretarial services during the year. At 31 December 22022, the amount of £28,000 was owing, including services for 2016, 2017, 2018, 2019, 2020 and 2021.
Trustee M Lobban also received a reimbursement for expenses of £671 (2021- £1,860)
19