**REGISTERED CHARITY NUMBER: 282719**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 May 2021**
## **for**
**Society of Legal Scholars in the United Kingdom and Ireland**
The Kelvin Partnership Ltd Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Contents of the Financial Statements for the Year Ended 31 May 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 to 11|
|**Detailed Statement of Financial Activities**|12 to 13|
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Report of the Trustees for the Year Ended 31 May 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 May 2021. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The main object of the Society is the advancement of legal education and scholarship in the United Kingdom and Ireland. During 2020/21, membership fluctuated at around 3,100 as new members joined and a number of deemed and other resignations took place. The membership comprises some 2,700 staff at law schools in the United Kingdom and Ireland and Associate members in overseas law schools, usually in common law institutions, and a smaller number of Emeritus and Honorary members. Legal practitioners who are involved in legal scholarship are eligible to join the Society as Ordinary members, or Associate members if overseas. In addition, barristers' chambers, solicitors' firms and law publishers may join the Society as Patrons.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Society successfully pursued its primary functions throughout the year. These included:
• managing 28 subject sections, providing networks for those interested in the same specialist areas of legal study;
• hosting its Annual Conference, which in 2020/21 took place virtually, hosted by the University of Exeter in September 2020;
• publishing the Society's peer-reviewed journal 'Legal Studies' (recognised as one of the leading UK academic law journals);
• publishing its biannual members' journal, The Reporter, and the annual Directory of Members;
• providing financial support for the SLS Annual Seminar Series, a high-profile series attracting leading scholars on specialist subjects from home and abroad;
• awarding the annual Birks Book Prize, named after Professor Peter Birks FBA, a former Hon Secretary and President of the SLS;
• providing grants through the SLS Research Activities Fund to assist members to undertake research or other scholarly activity;
• providing grants through the SLS Small Projects Fund to assist legal scholarship other than is covered by the Research Activities Fund;
• representing the interests of the academic legal profession in discussions and negotiations with Government and the professional legal bodies on matters as diverse as the provision of resources to law schools, judicial appointments, legal education and training, law reform, and its relationship with legal practitioners and training.
## **FINANCIAL REVIEW**
## **Financial Review**
The net result for the year was a net inflow of funds of £61,619 (2019/20 - £9,705) with a resulting increase in reserves to £379,121 (2019/20 - £317,507).
Policy on Reserves: The Society's reserves policy is to hold in its capital account a sum that is sufficient to meet three months' expenditure assuming no further income. At present this would not exceed £36K and so the reserves substantially exceed the required amount.
Page 1
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Report of the Trustees for the Year Ended 31 May 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
282719
## **Principal address**
PO Box 3017 BRISTOL BS6 9HJ
## **Trustees**
Professor N Gravells Professor S Worthington Professor A Paterson
## **Independent Examiner**
C M Fotheringham CA The Kelvin Partnership Ltd Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
## **Bankers**
National Westminster Bank plc Tavistock House Tavistock Square London WC1H 9JA
Approved by order of the board of trustees on 16 February 2022 and signed on its behalf by:
Professor N Gravells - Trustee
Page 2
## **Independent Examiner's Report to the Trustees of Society of Legal Scholars in the United Kingdom and Ireland**
## **Independent examiner's report to the trustees of Society of Legal Scholars in the United Kingdom and Ireland**
I report to the charity trustees on my examination of the accounts of Society of Legal Scholars in the United Kingdom and Ireland (the Trust) for the year ended 31 May 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do 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 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.
C M Fotheringham CA The Kelvin Partnership Ltd Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
16 February 2022
Page 3
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Statement of Financial Activities for the Year Ended 31 May 2021**
|31.5.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
71
**Charitable activities**
Direct charitable income
156,653
Other trading activities
2
28,241
Investment income
3
3,601
**Total**
188,566
**EXPENDITURE ON**
**Charitable activities**
4
Direct charitable expenditure
143,889
Net gains/(losses) on investments
16,942
**NET INCOME**
61,619
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
317,502
**TOTAL FUNDS CARRIED FORWARD**
379,121|31.5.20
Total
funds
£
44
138,591
119,448
1,584
259,667
238,805
(11,157)
9,705
307,797
317,502|
|---|---|
The notes form part of these financial statements
Page 4
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Balance Sheet 31 May 2021**
|31.5.21
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investments
8
101,107
**CURRENT ASSETS**
Debtors
9
27,618
Cash at bank
255,542
283,160
**CREDITORS**
Amounts falling due within one year
10
(5,146)
**NET CURRENT ASSETS**
278,014
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
379,121
**NET ASSETS**
379,121
**FUNDS**
11
Unrestricted funds
379,121
**TOTAL FUNDS**
379,121|31.5.20
Total
funds
£
49,165
34,442
243,780
278,222
(9,885)
268,337
317,502
317,502
317,502
317,502|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 February 2022 and were signed on its behalf by:
S Worthington - Trustee
N Gravells - Trustee
The notes form part of these financial statements
Page 5
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Notes to the Financial Statements for the Year Ended 31 May 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard 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 the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Investments**
Investments are carried in the balance sheet at market value.
The statement of recognised gains or losses includes gains and losses on the revaluation of investments.
Page 6
continued...
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **2. OTHER TRADING ACTIVITIES**
|Conference
**3.**
**INVESTMENT INCOME**
Deposit account interest
Dividends
**4.**
**CHARITABLE ACTIVITIES COSTS**
Direct charitable expenditure
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Journals
Administration
Postage and stationery
Insurance
Seminars
President's reception
Conference costs
Research activities fund
Business meetings
SLS prizes
Website
Small projects and events fund
Archiving and storage
Subscriptions|Direct
Costs (see
note 5)
£
130,580|31.5.21
£
28,241
31.5.21
£
1,046
2,555
3,601
Support
costs
£
13,309
31.5.21
£
8,317
28,045
637
476
2,700
-
63,193
4,577
731
1,300
4,080
11,330
4,300
894
130,580|31.5.20
£
119,448|
|---|---|---|---|
||||31.5.20
£
771
813
1,584
Totals
£
143,889|
||||31.5.20
£
12,335
39,467
444
800
3,521
3,805
98,827
7,215
10,200
1,300
3,771
31,176
8,178
620|
||||221,659|
continued...
Page 7
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2018/19)**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|44|
|**Charitable activities**||
|Direct charitable income|138,591|
|Other trading activities|119,448|
|Investment income|1,584|
|**Total**|259,667|
|**EXPENDITURE ON**||
|**Charitable activities**||
|Direct charitable expenditure|238,805|
|Net gains/(losses) on investments|(11,157)|
|**NET INCOME**|9,705|
|**RECONCILIATION OF FUNDS**||
|**Total funds brought forward**|307,797|
|**TOTAL FUNDS CARRIED**||
|**FORWARD**|317,502|
continued...
Page 8
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **8. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 June 2020
Additions
Revaluations
At 31 May 2021
**NET BOOK VALUE**
At 31 May 2021
At 31 May 2020
There were no investment assets outside the UK.
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors|Listed
investments
£
49,165
35,000
16,942
101,107
101,107
49,165
31.5.21
31.5.20
£
£
27,163
34,117
455
325
27,618
34,442
31.5.21
31.5.20
£
£
105
-
5,041
9,885
5,146
9,885|
|---|---|
continued...
Page 9
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **11. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.6.20
£
317,502
317,502
are as follows:
Incoming
Resources
resources
expended
£
£
188,566
(143,889)
188,566
(143,889)
At 1.6.19
£
307,797
307,797
in the above are as follows:
Incoming
Resources
resources
expended
£
£
259,667
(238,805)
259,667
(238,805)|Net
movement
At
in funds
31.5.21
£
£
61,619
379,121
61,619
379,121
Gains and
Movement
losses
in funds
£
£
16,942
61,619
16,942
61,619
Net
movement
At
in funds
31.5.20
£
£
9,705
317,502
9,705
317,502
Gains and
Movement
losses
in funds
£
£
(11,157)
9,705
(11,157)
9,705|
|---|---|---|
continued...
Page 10
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Notes to the Financial Statements - continued for the Year Ended 31 May 2021**
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.6.19
£
307,797
307,797|Net
movement
in funds
£
71,324
71,324|At
31.5.21
£
379,121|
|---|---|---|---|
||||379,121|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
448,233
448,233|Resources
expended
£
(382,694)
(382,694)|Gains and
Movement
losses
in funds
£
£
5,785
71,324
5,785
71,324|
|---|---|---|---|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 May 2021.
Page 11
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Detailed Statement of Financial Activities for the Year Ended 31 May 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Seminars - Royalties
**Other trading activities**
Conference
**Investment income**
Deposit account interest
Dividends
**Charitable activities**
Subscriptions - members
Legal studies
Reporters/journals
Advertising
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Journals
Administration
Postage and stationery
Insurance
Seminars
President's reception
Conference costs
Research activities fund
Business meetings
SLS prizes
Website
Small projects and events fund
Archiving and storage
Subscriptions|31.5.21
£
71
28,241
1,046
2,555
3,601
116,550
36,963
1,700
1,440
156,653
188,566
8,317
28,045
637
476
2,700
-
63,193
4,577
731
1,300
4,080
11,330
4,300
894
130,580|31.5.20
£
44
119,448
771
813|
|---|---|---|
|||1,584
106,656
30,990
450
495|
|||138,591|
|||259,667
12,335
39,467
444
800
3,521
3,805
98,827
7,215
10,200
1,300
3,771
31,176
8,178
620|
|||221,659|
This page does not form part of the statutory financial statements
Page 12
**Society of Legal Scholars in the United Kingdom and Ireland**
## **Detailed Statement of Financial Activities for the Year Ended 31 May 2021**
|**Support costs**
**Governance costs**
Independent examiner's fee
Administration
Bank charges
Gain/loss on foreign currency
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net income**|31.5.21
£
2,520
9,349
1,437
3
13,309
143,889
44,677
16,942
61,619|31.5.20
£
2,580
13,155
1,400
11
17,146
238,805
20,862
(11,157)
9,705|
|---|---|---|
This page does not form part of the statutory financial statements
Page 13