## **THE BYRON SOCIETY**
## **REGISTERED CHARITY NO: 265458**
## **ACCOUNTS**
**YEAR ENDED 31ST DECEMBER 2021**
## **VSCT TAX CONSULTANCY LTD**
**CHARTERED CERTIFIED ACCOUNTANTS**
**186 TOOTING HIGH STREET**
**LONDON, SW17 0SF**
**THE BYRON SOCIETY**
## **Index**
|**Pages**||
|---|---|
|1|Trust Information|
|2 - 3|Report of the Trustees|
|4|Independent Examiner's Report|
|5|Statement of Financial Activities|
|6|Balance sheet|
|7 - 9|Notes to the financial statements|
## **THE BYRON SOCIETY**
|**Trustees**
**Principal Address:**
**Bankers:**
**U.K Charity Status:**
**Independent Examiner:**|**TRUST INFORMATION**
The Lord Byron
Mr B Beatty
Flat 404
Chalmers House
York Road
London
SW11 3QT
HSBC Bank PLC
315 Fulham Road
London
SW10 9QJ
Metro Bank
One Southampton Row
London
WC1B 5HA
Registration No: 265458
VSCT Tax Consultancy Ltd
186 Tooting High Street
London
SW17 0SF|
|---|---|
Page 1
## **THE BYRON SOCIETY**
## **REPORT OF THE TRUSTEES**
The Trustees present their report and unaudited financial statements of the Society for the year ended 31 December 2021.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## Governing Document
The Society is governed by its constitution dating from 1971 and last amended in 1991. The Constitution is currently being updated.
## Organisational Structure
The Society's Executive Committee are elected or re-elected at the Annual General Meeting on the basis of the nominations received. The officers are persons stipulated in the constitution.
The Executive Committee manage the Society's affairs and meet generally no less than twice a year.
The work of implementing most of their policies is carried out by the officers, including the Director. Meetings of the officers are held on an "as required basis" and in addition further meetings are held one month before the annual general meeting to approve budgets and finalise the accounts and the annual report for approval by the Trustees.
The day-to-day running of the Society is delegated to the Director, Dr Emily Paterson-Morgan.
The Officers on the date of approval of the report and during the year were:
The Lord Byron - President Mr Kenneth Robbie - Chairman Dr David Woodhouse - Treasurer Dr Emily Paterson-Morgan - Director
The other members of the Executive Committee on the date of approval of the report and during the year were the below named:
Mr Richard Deakin Mrs Lydia Diamandi-Greer Mrs Katerina Jeffrey Dr Christine Kenyon-Jones Dr Alan Rawes Dr Jonathon Shears Ms Josefina Tuominen Prof. Roderick Beaton
## **Risk management**
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The Byron Society aims to support education and research into the life and work of the poet Lord Byron.
Page 2
## **THE BYRON SOCIETY**
## **REPORT OF THE TRUSTEES** (continued)
## **Objectives for the Year**
The Society continues to organise a full programme of events for members (regularly updated on its website). It supports the Byron Journal and the International Association of Byron Societies It also supports relevant conferences and runs a bursary scheme open to any Ph.D. student accepted at a UK university to study for a doctorate materially concerned with the works of Lord Byron.
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities**
The Society provides lectures, readings, social events and outside visits to places of literary interest and supports Byron scholarship in various ways. The Society is the owner of The Byron Journal, which continues to be published by Liverpool University Press.
## **Public benefit**
The objects of the Society are the promotion of education and research into the life and works of Lord Byron. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Society's aims and objectives and in planning future activities and setting the policy for the year.
## **FINANCIAL REVIEW**
The Society generated a surplus in the sum of £11,657 (2020: deficit £836). Receipts totalled £29,092 (2020: £24,497) which consist mainly of a donation from the Elma Dangerfield Trust in the sum of £20,000. The expenses decreased to £17,435 (2020: £25,333). The total funds as at December 2021 amounted to £39,437 (balance brought forward from the previous year: £27,780). The main assets are cash at bank (Metro Bank and HSBC) of £36,409 (2020: £29,414).
## **FUTURE DEVELOPMENTS**
The Society will continue to hold events and support scholarship through the bursary and through the Byron Journal.
## **Accountants**
The Independent Examiner has expressed his willingness to continue to act on behalf of the Society.
Approved by order of the board of Trustees on ............................... and signed on its behalf by:
………………………………………………….
## **The Lord Byron - Trustee**
Page 3
## **THE BYRON SOCIETY**
## **Independent Examiner's Report to the Trustees for the year ended 31 December 2021**
I report on the Accounts of the Society for the year ended 31st December 2021 which are set out on pages 5 to 9.
## **Respective responsibilities of Trustees and Examiner**
As the Society's Trustees you are responsible for the preparation of the accounts and you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the 2011 Act) does not apply and that an independent examination is needed. It is my responsibility:
- to examine the accounts (under section 145(1) 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 examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Society 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 you as 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 statements below.
## **Independent Examiner's Statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
|………………………………………..
**C.Y, DOOKHEEA, FCCA, ATT, STEP (Affiliate)**
**186 TOOTING HIGH STREET**
**LONDON, SW17 0SF**|**INDEPENDENT EXAMINER**
**DATE:**
………………………|
|---|---|
Page 4
## **THE BYRON SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31ST DECEMBER 2021**
|**Income**
**Notes**
**Donations and Legacies**
Donations and Grants
**1(d)**
Members' Subscriptions
**11**
Functions
Byron Journal Royalties
**11**
Bank Deposit Interest (Gross)
**2**
**Total Income**
**Expenditure**
**Raising Funds**
Functions & Meeting Expenses
Byron Journal Subscriptions
Donations, Bursaries and Awards
**4**
**Charitable Expenditure**
Executive Director's fees
**Others**
Advertising
Postage & Stationery
Accountancy Charge
Professional Fees
Paypal Charges
Sundry Expenses
Website, IT and Software
**Total Expenditure**
**Net Income of the Year**
**Total Funds brought forward**
**Total Funds carried forward**|**£**
**£**
20,000
7,145
70
1,867
29,082
29,082
10
**29,092**
1,013
2,640
4,750
8,403
5,000
5,000
500
492
1,464
686
119
72
699
4,032
**17,435**
**11,657**
**27,780**
**39,437**
**£**
**2021**|**£**
**£**
20,000
2,299
186
2,005
24,490
24,490
7
**24,497**
6,094
2,355
5,000
13,449
5,000
5,000
375
164
1,224
5,100
-
-
21
6,884
**25,333**
**(836)**
**28,616**
**27,780**
**£**
**2020**|**£**
**£**
20,000
2,299
186
2,005
24,490
24,490
7
**24,497**
6,094
2,355
5,000
13,449
5,000
5,000
375
164
1,224
5,100
-
-
21
6,884
**25,333**
**(836)**
**28,616**
**27,780**
**£**
**2020**|
|---|---|---|---|
||||**24,497**|
||||13,449
5,000
6,884|
||||**25,333**|
||||**(836)**
**28,616**|
||||**27,780**
**£**|
The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 9 form part of these accounts.
Page 5
## **THE BYRON SOCIETY**
## **BALANCE SHEET AS AT 31ST DECEMBER 2021**
|**Notes**
**Current Assets**
Prepayments & Accrued Income
**8**
Cash in Hand
**Creditors: Amounts falling due within one year**
Other Creditors & Accruals
**9**
**Net Current Assets**
**Total Assets Less Current Liabilities**
**Financed By:**
General Funds - Unrestricted
**10**|**2021**
**£**
7,382
36,409
43,791
(4,354)
39,437
**39,437**
**£**
**39,437**
**£**|**2020**
**£**
2,005
29,414
31,419
(3,639)
27,780
**27,780**
**£**
**27,780**
**£**|
|---|---|---|
Approved by the the Board of Trustees on: ……………………………………...................... and signed on its behalf by:
…………………………………….
**The Lord Byron - Trustee**
Page 6
## **THE BYRON SOCIETY**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31ST DECEMBER 2021**
## **1 Accounting Polices**
The principal accounting policies are summarised below and have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of Accounting**
The Financial Statements have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the notes to these Accounts. The Financial Statements have been prepared in accordance with the Statement of Recomended Practice: Accounting and Reporting by Charities preparing their Accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011.
The Society constitutes a public entity benefit as defined by FRS 102.
## **(b) Going Concern**
The Society received £20,000 during the year as a donation and expects that this support will continue in future years. The Trustees therefore consider that there are no material uncertainties about the Society's ability to continue as a going concern.
## **(c) Reconciliation with previous Generally Accepted Accounting Practice**
In preparing the Accounts, the Trustees have considered whether, in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102, a restatement of comparative items was needed. No restatements were required.
## **(d) Income**
This represents subscriptions and donations receivable together with royalties and income from various functions/activities.
All income is included in the Statement of Financial Activities (SoFA) when the Society is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to the particular categories of income:
## - Subscriptions
These represent subscriptions received during the year and subscriptions fees held in the Society's Paypal account, some of which relate to earlier years.
## - Investment income
This is included in the accounts when receivable.
## - Grants and donations
Grants and donations are only included in the SoFA when the Society has unconditional entitlement to the resources.
Page 7
**THE BYRON SOCIETY**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31ST DECEMBER 2021**
## **(e) Expenditure:**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Support Costs comprise those costs incurred by the charity in the delivery of its activities and services for its members.
## **2 Investment Income**
|**Investment Income**|||
|---|---|---|
|Deposit Account Interest
**Raising Funds**
Support Costs
**Donations made are as follows:**
Ph.D bursary
Byron with the Poets index
Donation to Museum (Greece)
Award and Prizes
Manchester University Conference|**2021**
**£**
10
£
**2021**
**£**
8,403
£
**2021**
**£**
3,000
-
1,000
750
-
4,750
£|**2020**
**£**
7
£|
|||**2020**
**£**
13,449
£|
|||**2020**
**£**
4,500
500
-
-|
|||5,000
£|
## **3 Raising Funds**
## **4 Donations made are as follows:**
## **5 Trustees' Remuneration & Related Party Transactions**
No Trustees received any remuneration or benefits during the year ended 31 December 2021 (2020: Nil).
There were no Trustees' expenses paid for the year ended 31 December 2021 (2020: Nil).
The Trustees have not been in receipt of any remuneration nor reimbursement of expenses. The Director serving in the year received fees of £5,000 during the year (2020: £5,000).
## **6 Taxation**
The Society, as a registered charity, is exempt from tax on income and gains falling within section 524 of the Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax provision is therefore required.
Page 8
**THE BYRON SOCIETY**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31ST DECEMBER 2021**
- **7 Unrestricted funds** comprise those funds which the Trustees are free to use in accordance with the charitable objects.
**Restricted funds** are funds which have been given for a particular purpose or project.
## **8 Debtors: Amounts falling due within one year**
|Other Debtors
Subscriptions - Paypal
Royalties|**2021**
**£**
584
4,931
1,867
**7,382**|**2020**
**£**
-
-
2,005|
|---|---|---|
|||**2,005**|
## **9 Creditors: Amounts falling due within one year**
|**Creditors: Amounts falling due within one year**|||
|---|---|---|
|Trade Creditors
Other Creditors|**2021**
**£**
-
4,104
4,104
£|**2020**
**£**
-
3,639|
|||3,639
£|
## **10 Movement in Funds**
|**Movement in Funds**
**At 01.01.21**
**£**
**Unrestricted Funds**
General Fund
15,434
Unrestricted bequests
12,346
**Total Funds**
**27,780**
**Incoming**
**Resources**
**£**
**Unrestricted Funds**
General Fund
29,092
**Subscriptions and Royalties**
Subscriptions
Royalties|**Net**
**Movement**
**in Funds**
**£**
11,657
-
**11,657**
**Resources **
**expended**
**in Funds**
**£**
(17,435)
**2021**
**£**
7,145
1,867
9,012
£|**At 31.12.21**
**£**
27,091
12,346|
|---|---|---|
|||**39,437**|
|||**Movement**
**in Funds**
**£**
11,657|
|||**2020**
**£**
2,299
2,005|
|||4,304
£|
## **11 Subscriptions and Royalties**
## **12 Independent Examiner's Fee**
The Independent Examiner's fee for the year 2021 amounted to £1,464 inclusive of Vat (2020: £1,224 inclusive of Vat).
Page 9