2021-04-05-accounts

THE LAW SOCIETY CHARITY REGISTERED CHARITY NUMBER: 268736

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

THE LAW SOCIETY CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS

Trustee: The Law Society Trustees Limited (the “Trustee”)

	The following persons served as directors throughout the year:	The following persons served as directors throughout the year:
	I Bond	(Appointed 4th May 2020)
	A Caplen
	SJM Chandler
	R Chumber	(Appointed 8th May 2020)
	JB Egan
	A Fisher	(Appointed 30thApril 2021)
	MG Fowler
	P Klimov	(Appointed 4th May 2020)
	DM Merkel	(Resigned 6th June 2020)
	J Perry	(Resigned 11th October 2020)
	GGM Sandercock
	E Shang-Simpson	(Appointed 30thApril 2021)
	A Stanley
	MMK Uddin
	T Wilkinsin Keane	(Appointed 4th May 2020)
	J Whitfield
Registered office:	113 Chancery Lane
	London
	WC2A 1PL
Operating address:	113 Chancery Lane
	London
	WC2A 1PL
Independent Auditors:	BDO LLP
	Chartered Accountants
	Two SnowHill
	Birmingham
	B4 6GA
Bankers:	Barclays Bank Plc
	Level 27
	1 Churchill Place
	London
	E14 5HP

1

THE LAW SOCIETY CHARITY

CONTENTS

TRUSTEE’S REPORT ........................................................................................................................... 3 TRUSTEE'S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS……………….6 INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEE OF THE LAW SOCIETY CHARITY ........ 7 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021 ........................ 10 BALANCE SHEET AS AT 5 APRIL 2021 ............................................................................................. 11 NOTES TO THE FINANCIAL STATEMENTS ...................................................................................... 12

2

THE LAW SOCIETY CHARITY

TRUSTEE’S REPORT

The Trustee is responsible, under its duty of stewardship, to prepare and present its Annual Report and the audited Financial Statements of The Law Society Charity (Charity) for the year ended 5 April 2021. The chairman of the Trustee fulfils this duty by approving the statements on behalf of the Trustee.

Structure, governance and management

The Charity was created by a Trust Deed dated 11 December 1974 made between the Law Society of England and Wales (the “Law Society”) and The Law Society Trustees Limited, the Charity’s Trustee. It is a registered charity identified by the number 268736.

Under the Trust Deed, the Trustee stands possessed of the trust fund of the Charity absolutely upon trust for the Charity within its absolute discretion but in particular for:

• the continuation and furtherance of legal education and the acquisition of legal knowledge by any charitable means;

• the College of Law incorporated under the Companies Act 1948 and any other similar institution or body being itself a registered charity;

• scholarships, exhibitions, bursaries, prizes or grants to be awarded, given or made for the furtherance of legal education or for research into the laws of England and other jurisdictions; and

• the discharge from time to time of such of the charitable obligations (if any) imposed upon the Law Society by Statute or otherwise as may be within the scope of the Trusts.

The Board must have at least five members and no more than twenty. There are 12 members as at 5 April 2021.

Company secretarial, finance, and administration support is provided by Law Society staff.

Recruitment and training of Board trustees

When a vacancy for a Council Member trustee needs to be filled, all Law Society Council Members are invited to apply to be appointed and sent details of the aims and objectives of the Charity, a job description of the role and a person specification. Candidates are interviewed by the Chair and one other trustee, with a view to a final recommendation being made to the next meeting of the Board.

When a vacancy for a non-Council Member trustee arises, an advertisement is placed in appropriate publications, such as the Gazette and interested parties are asked to complete an application form and the application forms are short listed by a panel of current board members, including the Chair and the Company Secretary, then interviewed. The successful candidate(s) are informed that their appointment to the Board will be recommended at the next Board meeting, where the final decision is taken.

Upon formal confirmation of a new trustee’s appointment, they are sent copies of the Memorandum of Association, the Articles of Association and the Trust Deed.

Equality and diversity training is provided for all trustees who have not already received it in their capacity as Council members.

3

THE LAW SOCIETY CHARITY

TRUSTEE’S REPORT (continued)

Risk management

The Trustee regularly assesses the risks to which the Charity is exposed. Members of its Board are satisfied that the systems in place manage the exposure to major risk.

Related parties and connected organisations

There are no issues regarding related parties and connected organisations. At each Trustee meeting individuals must make a declaration of interest where necessary and take no part in any matter arising in connection with this interest. During the year a grant of £5,000 (2020: £nil) was given to Colombian Caravana, an organisation in which Sarah Chandler (a Trustee) is a Board member.

Objectives and activities

The Charity is essentially a grant making charity. The Board of the Trustee regularly reviews the outline aims and objectives of the Charity, which are:

1. supporting the education of the public in legal matters and members of the profession in the interests of the public, in particular by assisting in the maintenance of high standards of general legal education in the profession.

2. supporting charities whose principal aims are to support members of the profession in need;

3. seeking out and supporting, whether in partnership with others or alone:

4. i. major charitable projects which will be supported by Local Law Societies and groups (and other means of outreach); and,

5. ii. joint ventures with other charities, particularly with the charitable arms of firms of solicitors.

6. 1. supporting charitable work done internationally to promote human rights, such as assistance in the development of law, general promotion of legal education and pro bono assistance for people facing capital punishment;

7. in exceptional cases, responding to ad hoc applications for support from other charitable organisations whose work redounds to the credit of the profession, but generally not those with narrow geographical limits; and,

8. to focus on the needs of those unable to obtain funding elsewhere, rather than those with established and significant income streams.

In fulfilling these aims and objectives the Board will recognise and, where appropriate, act to promote the particular needs of excluded, under-represented or disadvantaged groups.

The Board will regularly review its policy relating to publicity for its actions and will publicise its strategies with a view to increasing awareness of it and of its work in the profession and in the general public.

The Board of the Trustee has had due regard to the Charity Commission’s general guidance on public benefit.

4

THE LAW SOCIETY CHARITY

TRUSTEE’S REPORT (continued)

Financial Review of achievements and performance

The Charity was able to make a number of grants and donations during the year in pursuit of its objects for the public benefit. Some of the awards made were:

£ 5,000 Advice on Individual Rights in Europe £ 5,000 Centre for Military Justice £ 5,000 Colombian Caravana £ 5,000 Family Rights

This means that the total value of grants made was £20,000 (2020: £37,500).

The Charity is fortunate in that its financial position and activities have not been adversely impacted to date by the ongoing Covid-19 pandemic.

Review of financial position at the end of the year

Total reserves stand at £286,941 (2020: £248,394). It is the aim of the Charity to continue to make grants and donations within its objects and policies according to the income it receives.

Plans for the future

The Charity is seeking to obtain long term funding options with the Law Society to enable it to continue its work.

Investment policy

The Charity invests its reserves with Barclays Wealth and Investment Management as it allows easy access to funds when grants are made as well as any growth income earnt accumulating within the portfolio. For the year ended 5 April 2021 the Charity made a return on its investments of £192 (2020: £1,338).

Reserves policy

It is not the aim of the Charity to accumulate large cash balances; however, it has sufficient funds to meet its commitments for 12 months from the date of signing as they fall due. Total reserves stand at £286,941 (2020: £248,394) of which unrestricted reserves are £286,941 (2020: £241,971) and designated £nil (2020: £6,423). It is the aim of the Charity to continue to make grants and donations within its objects and policies according to the income it receives.

Going concern and long-term viability

The Trustees consider that the Charity will have sufficient resources to meet its liabilities as they fall due for the foreseeable future, at least over the next 12 months from the date of signing the financial statements. As a result, the Trustees are satisfied that the Charity is a going concern. The risk of the ongoing COVID-19 pandemic has been assessed, and it is deemed not to have a material impact on the operations or financial viability of the Charity.

5

THE LAW SOCIETY CHARITY

TRUSTEE’S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustee is responsible for preparing the Trustee’s Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustee 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 incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the Trustee is required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

Statement of disclosure of information to auditors

• there is no relevant audit information of which the Charity’s auditors are unaware; and,

• the Trustee has taken all steps that it ought to have taken to make itself aware of any relevant audit information and to establish that the auditors are aware of that information.

Approved by the Board of the Trustee:

J B Egan

Interim Chairman, Board of the Trustee

Date: 10th December 2021

6

THE LAW SOCIETY CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF THE LAW SOCIETY CHARITY

Opinion on the financial statements In our opinion, the financial statements:

• give a true and fair view of the state of the Charity’s affairs as at 5 April 2021 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

We have audited the financial statements of The Law Society Charity for the year ended 5 April 2021 which comprise the statement of financial activities, the balance sheet, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remain independent of the Charity in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions related to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. The other information comprises: the Trustees Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

7

THE LAW SOCIETY CHARITY

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion;

• the information contained in the financial statements is inconsistent in any material respect with the Trustees’ Annual Report; or

• adequate accounting records have not been kept by the Charity; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We made enquiries of management, and the Board of Trustees. This included the following:

• how they have identified, evaluated and complied with laws and regulations and whether they were aware of any instances of non-compliance;

• their process for detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

• which internal controls have been established to mitigate risks related to fraud or non-compliance with laws and regulations.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity. These include, but are not limited to, compliance with, Charities Act 2011, UK GAAP, Charities SORP and tax legislation.

In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: data protection. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Those

8

THE LAW SOCIETY CHARITY

Charged with Governance and other management and inspection of regulatory and legal correspondence if any.

We considered management’s incentives and opportunities for fraudulent manipulation of the financial statements (including revenue recognition and the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates.

Audit response to risks identified

• We reviewed the financial statement disclosures and sample tested to supporting documentation to assess compliance with relevant laws and regulations discussed above;

• We made enquiries of the Trustees and management;

• We read minutes of meetings of those charged with governance;

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; considered completeness of related party transactions; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:

https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

BDO LLP, statutory auditor Birmingham, UK Date 16 December 2021

BDO LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

9

THE LAW SOCIETY CHARITY

THE LAW SOCIETY CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021

NOTE INCOME Donations and legacies 2 Investments Total income EXPENDITURE Charitable activities Grant payments 3 Other Total expenditure NET INCOME Reconciliation of funds Total funds brought forward 8 Total funds carried forward 8	TOTAL FUNDS 2021 £ 58,355 192 58,547 (20,000) - (20,000) 38,547 248,394 286,941	TOTAL FUNDS 2020 £ 61,598 1,338
		62,936
		(37,500) (275)
		(37,775)
		25,161 223,233
		248,394

The notes on pages 12 to 16 form part of these financial statements.

10

THE LAW SOCIETY CHARITY

THE LAW SOCIETY CHARITY BALANCE SHEET AS AT 5 APRIL 2021

NOTE CURRENT ASSETS Debtors Cash at bank and in hand 6 TOTAL CURRENT ASSETS LIABILITIES Creditors: amounts falling due within one year 7 NET CURRENT ASSETS 8 TOTAL ASSETS LESS CURRENT LIABILITIES THE FUNDS OF THE CHARITY Unrestricted income funds 9 TOTAL CHARITY FUNDS 9	TOTAL FUNDS 2021 TOTAL FUNDS 2020 £ £ 10,813 276,128 11,150 242,244
	286,941 253,394 - (5,000)
	286,941 248,394
	286,941 248,394
	286,941 248,394
	286,941 248,394

The notes on pages 12 to 16 form part of these financial statements.

The financial statements were approved by the Board of the Trustee and signed on its behalf by:

J B Egan

Interim Chair, Board of the Trustee

Date: 10th December 2021

11

THE LAW SOCIETY CHARITY

NOTES TO THE FINANCIAL STATEMENTS

1 ACCOUNTING POLICIES

• a BASIS OF ACCOUNTING

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 (FRS 102), applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements.

• b GOING CONCERN

The Trustees have considered whether the going concern basis of preparation for these accounts remains appropriate based on available liquid assets, forecast expenditure and the uncertainty created by the global pandemic. The Trustees note that the Charity has cash balances available that represent many years of expenditure and that the award of grants is discretionary. As such the Trustees are satisfied that that the Charity can settle its obligations for a period of at least 12 months from the date of signing the financial statements and that it is appropriate for the financial statements be prepared on a going concern basis.

• c INCOME RECOGNITION: VOLUNTARY INCOME Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable, the charity has entitlement to the funds and the amount can be measured reliably.

• d INCOME RECOGNITION: INVESTMENT INCOME Funds are placed with Barclays Global Investors and the interest earned is recognised when receivable.

• e INCOME RECOGNITION: UNCLAIMED CLIENT BALANCES Solicitors' firms may, under the Solicitors' Accounts Rules, donate to a charity client monies held by them where the client cannot be traced. Approval by the Solicitors Regulation Authority is required where any particular balance to be donated is of, or above, £500 (2020: £500). In that event the charity must give an indemnity to repay the money if the client later appears.

• f EXPENDITURE RECOGNITION: REVENUE GRANTS Charitable activities include revenue grants debited to the statement of financial activities when authorised and committed to by the Trustee.

g DESIGNATED FUNDS Designated funds are earmarked for the Law Society Diversity Access Scheme (DAS). The Charity has agreed to manage this fund and make payments on behalf of the DAS as and when required. The DAS aims to provide financial support for talented but disadvantaged people who would not otherwise be able to study towards becoming a lawyer.

• h RESOURCES EXPENDED

Resources expended are recognised in the period in which they are incurred and allocated to unrestricted funds. Resources expended on charitable activities include payments made on behalf of the DAS.

• i GENERATING FUNDS

• Costs of generating funds are incurred on behalf of the charity by the Law Society and not recharged. These costs and the associated donation in kind are not included in the statement of financial activities because their value cannot be reliably estimated.

• j GOVERNANCE The Board of the Law Society Charity convenes to assess all funding applications received and awards grants upon their merits.

12

THE LAW SOCIETY CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

1 ACCOUNTING POLICIES (continued)

• k TRUSTEE EMOLUMENTS The Trustee and any person related or connected by business to the Trustee has given of their time freely and no expenses have been paid by the Charity to the Trustee or related or connected person as such costs are met by the Law Society.

• l SUPPORT AND GOVERNANCE COSTS

The Charity benefits from centralised services and facilities provided by the Law Society which includes payment of trustees emoluments, accounting administration, treasury management and fundraising activities which are not recharged to the Charity. These costs and the associated donation in kind are not included in the statement of financial activities because their value cannot be reliably estimated.

m CHARITABLE ACTIVITIES

The expenditure on charitable activities relates to grants made in the year.

13

THE LAW SOCIETY CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

2 INCOME

INCOME RESOURCES: DONATIONS AND LEGACIES

Donations Unclaimed client balances 3 EXPENDITURE EXPENDITURE ON CHARITABLE ACTIVITIES: GRANT PAYMENTS General fund GENERAL FUND: CHARITABLE ACTIVITIES Advice on Individual Rights in Europe Centre for Military Justice Colombian Caravana Fair Trials Family Rights Reprieve Cape Town Trust Families Need Fathers Both Parents Matter Free Representation Inside Justice Peace Brigades International Prison Radio Association Prisoners of Conscience	2021) £) ) 80) 58,275) 58,355) 2021) £) )) 20,000) 20,000) 2021) £) ) ) 5,000) 5,000) 5,000) 5,00-) 5,000) -) -) -) -) -) -) -) -) 20,000)	2020) £) ) 258) 61,340)
		61,598)
		2020) £) ) 427437,500)
		37,500)
		2020) £) ) ) - - - 5,000) - 4,000) 5,000) 5,000) 4,000) 5,000) 2,500) 3,000) 4,000) ) 37,500

14

THE LAW SOCIETY CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

4 STAFF COSTS

There were no employees during the year (2020: nil).

Neither the Trustee nor any person related or connected by business to the Trustee has received any remuneration from the Charity during the year (2020: £nil).

No expenses were reimbursed to the Trustee nor any person related or connected to the Trustee in the year (2020: £nil).

5 TAXATION

The Charity is exempt from tax as all its income is charitable and is applied for charitable purposes.

6 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accrued income	2021) 2020 £) £) 11,150110,813) 11,150)
	150110,813) 11,150)

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Committed charitable activities of general fund

	2021)	2020)
	£)	£)
	-)	5,000)
	-)	5,000)

8 ANALYSIS OF NET ASSETS

Debtors: amounts falling due within one year Cash at bank	UNRESTRICTED) FUNDS 2021) £) 150110,813) 276,128) 286,941)	UNRESTRICTED) FUNDS 2020) £) 11,150) 242,244)
		253,394)

15

THE LAW SOCIETY CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued )

9 MOVEMENT IN FUNDS

UNRESTRICTED FUNDS Designated fund: Diversity Access Scheme Total Designated fund Total General fund TOTAL UNRESTRICTED FUNDS TOTAL FUNDS	BROUGHT) FORWARD) £) 6,423) 6,423) 241,971) 248,394) 248,394)	INCOMING) RESOURCES ) £) -) -) 58,547 58,547) 58,547	OUTGOING) RESOURCES ) £) - - (20,000)) (20,000)) (20,000))	TRANSFER CARRIED) FORWARD) £ £) (6,423) -)
				(6,423) -) 6,423 286,941)
				- 286,941)
				- 286,941)

The Diversity Access Scheme fund has been transferred to the general fund.

10 RELATED PARTY TRANSACTIONS

The Law Society paid 2021 audit fees of £5,500 (2020: £5,000) on behalf of the Law Society Charity. During the year a grant of £5,000 (2020: £nil) was given to Colombian Caravana, an organisation in which Sarah Chandler (a Trustee) is a Board member.

11 SUBSEQUENT EVENTS

The outbreak of the ongoing Covid-19 pandemic has not had a significant impact on the operation of the Charity.

16