REGISTERED CHARITY NUMBER: 282719
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 May 2024 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 2024
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Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13 to 14
29/01/25 09:34
DRAFT
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Society of Legal Scholars in the United Kingdom and Ireland
Report of the Trustees for the Year Ended 31 May 2024
The trustees present their report with the financial statements of the charity for the year ended 31 May 2024. 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 2023/24, membership fluctuated at around 2,800 as new members joined and a number of deemed and other resignations took place. The membership comprises some 2,300 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.
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fluctuated at around 2,800 as new members joined
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membership comprises some 2,300 staff at law schools overseas law schools, usually in common law Legal practitioners who are involved in legal members if overseas. In addition, barristers'
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journal 'Legal Studies' (recognised as one of
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the SLS Annual Seminar Series, a high-profile series Prize, named after Professor Peter Birks FBA, a
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SLS Research Activities Fund to assist members to
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SLS Small Projects Fund to assist legal scholarship academic legal profession in discussions and negotiations
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 2023/24 took place at Oxford Brookes University in July 2023;
• 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;
• 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 outflow of funds of £24,628 (2022/23 - outflow of £875), resulting in a decrease in reserves to £364,641 (2022/23 - £389,269).
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 £84K and so the reserves substantially exceed the required amount.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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Society of Legal Scholars in the United Kingdom and Ireland
Report of the Trustees for the Year Ended 31 May 2024 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 BSc 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 ............................................. and signed on its behalf by: ....................................................................... Professor N Gravells - Trustee
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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 2024.
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.
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exceeded £250,000 your examiner must be a member
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the examination because I am a member of the Institute I confirm that no material matters with the applicable requirements concerning the form and Reports) Regulations 2008 other than any
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across no other matters in connection with the
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.
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:
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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
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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 BSc CA
The Kelvin Partnership Ltd Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
Date: .............................................
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Society of Legal Scholars in the United Kingdom and Ireland
Statement of Financial Activities for the Year Ended 31 May 2024
| DRAFT 29/01/25 09:34 31.5.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 90 Charitable activities Direct charitable income 117,330 Other trading activities 2 181,188 Investment income 3 11,475 Total 310,083 EXPENDITURE ON Charitable activities 4 Direct charitable expenditure 334,895 Net gains/(losses) on investments 184 NET INCOME/(EXPENDITURE) (24,628) RECONCILIATION OF FUNDS Total funds brought forward 389,269 TOTAL FUNDS CARRIED FORWARD 364,641 |
31.5.23 Total funds £ 106 124,530 182,720 6,881 314,237 310,936 (4,176) (875) 390,144 389,269 |
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The notes form part of these financial statements
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Society of Legal Scholars in the United Kingdom and Ireland
Balance Sheet 31 May 2024
| DRAFT 29/01/25 09:34 31.5.24 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 266 Investments 9 170,008 170,274 CURRENT ASSETS Debtors 10 27,568 Cash at bank 169,439 197,007 CREDITORS Amounts falling due within one year 11 (2,640) NET CURRENT ASSETS 194,367 TOTAL ASSETS LESS CURRENT LIABILITIES 364,641 NET ASSETS 364,641 |
31.5.23 Total funds £ 622 169,824 170,446 18,957 208,466 227,423 (8,600) 218,823 389,269 389,269 |
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The notes form part of these financial statements
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continued...
Society of Legal Scholars in the United Kingdom and Ireland
Balance Sheet - continued 31 May 2024
FUNDS Unrestricted funds
TOTAL FUNDS
| 12 | 364,641 364,641 |
389,269 |
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| 389,269 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Worthington - Trustee ............................................. N Gravells - Trustee
The notes form part of these financial statements
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Society of Legal Scholars in the United Kingdom and Ireland
Notes to the Financial Statements for the Year Ended 31 May 2024
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.
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. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 33% on cost 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.
continued...
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Society of Legal Scholars in the United Kingdom and Ireland
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
| DRAF 29/01/25 0 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 Survey costs Depreciation |
T 9:34 Direct Costs (see note 5) £ 320,956 |
31.5.24 £ 181,188 31.5.24 £ 2,643 8,832 11,475 Support costs £ 13,939 31.5.24 £ 8,436 30,838 837 1,096 9,029 5,282 185,408 31,405 3,306 2,600 17,921 23,699 743 - - 356 320,956 |
31.5.23 £ 182,720 |
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| 31.5.23 £ 1,267 5,614 6,881 Totals £ 334,895 |
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| 31.5.23 £ 499 31,610 653 606 5,876 4,709 195,233 12,966 2,890 2,200 16,630 18,990 364 893 2,000 356 |
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| 296,475 |
continued...
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Society of Legal Scholars in the United Kingdom and Ireland
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2021/22) Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 106 Charitable activities Direct charitable income 124,530 Other trading activities 182,720 Investment income 6,881 Total 314,237 EXPENDITURE ON Charitable activities Direct charitable expenditure 310,936 Net gains/(losses) on investments (4,176) NET INCOME/(EXPENDITURE) (875) RECONCILIATION OF FUNDS Total funds brought forward 390,144 TOTAL FUNDS CARRIED FORWARD 389,269
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2021/22)
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Society of Legal Scholars in the United Kingdom and Ireland
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
8. TANGIBLE FIXED ASSETS
Computer equipment £ COST At 1 June 2023 and 31 May 2024 1,067 DEPRECIATION At 1 June 2023 445 Charge for year 356 At 31 May 2024 801 NET BOOK VALUE At 31 May 2024 266 At 31 May 2023 622 9. FIXED ASSET INVESTMENTS Listed investments £ MARKET VALUE At 1 June 2023 169,824 Revaluations 184 At 31 May 2024 170,008 NET BOOK VALUE At 31 May 2024 170,008 At 31 May 2023 169,824
There were no investment assets outside the UK.
continued...
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Society of Legal Scholars in the United Kingdom and Ireland
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
| DRAFT 29/01/25 09:34 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. MOVEMENT IN FUNDS At 1.6.23 £ Unrestricted funds General fund 389,269 TOTAL FUNDS 389,269 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 310,083 (334,895) TOTAL FUNDS 310,083 (334,895) |
31.5.24 31.5.23 £ £ 27,555 18,016 13 - - 941 27,568 18,957 31.5.24 31.5.23 £ £ 2,640 8,600 Net movement At in funds 31.5.24 £ £ (24,628) 364,641 (24,628) 364,641 Gains and Movement losses in funds £ £ 184 (24,628) 184 (24,628) |
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continued...
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Society of Legal Scholars in the United Kingdom and Ireland
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| DRAFT 29/01/25 09:34 At 1.6.22 £ Unrestricted funds General fund 390,144 TOTAL FUNDS 390,144 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 314,237 (310,936) TOTAL FUNDS 314,237 (310,936) 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 May 2024. |
Net movement At in funds 31.5.23 £ £ (875) 389,269 (875) 389,269 Gains and Movement losses in funds £ £ (4,176) (875) (4,176) (875) |
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Society of Legal Scholars in the United Kingdom and Ireland
Detailed Statement of Financial Activities for the Year Ended 31 May 2024
| Detailed Statement of Financial Activities for the Year Ended 31 May 2024 |
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|---|---|---|---|
| 31.5.24 | 31.5.23 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Seminars - Royalties | 90 | 106 | |
| Other trading activities | |||
| Conference | 181,188 | 182,720 | |
| 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 |
DRAFT 29/01/25 09:34 |
2,643 8,832 11,475 104,865 11,069 900 496 117,330 310,083 8,436 30,838 837 1,096 |
1,267 5,614 6,881 96,537 26,110 900 983 124,530 314,237 499 31,610 653 606 |
| Seminars | 9,029 | 5,876 | |
| President's reception | 5,282 | 4,709 | |
| Conference costs | 185,408 | 195,233 | |
| Research activities fund | 31,405 | 12,966 | |
| Business meetings | 3,306 | 2,890 | |
| SLS prizes | 2,600 | 2,200 | |
| Website | 17,921 | 16,630 | |
| Carried forward | 296,158 | 273,872 |
This page does not form part of the statutory financial statements
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Society of Legal Scholars in the United Kingdom and Ireland
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 31 May 2024 | |||
| 31.5.24 | 31.5.23 | ||
| £ | £ | ||
| Charitable activities | |||
| Brought forward | 296,158 | 273,872 | |
| Small projects and events fund | 23,699 | 18,990 | |
| Archiving and storage | 743 | 364 | |
| Subscriptions | - | 893 | |
| Survey costs | - | 2,000 | |
| Computer equipment | 356 | 356 | |
| DRAFT 29/01/25 09:34 Support costs Governance costs Independent examiner's fee Administration Bank charges Total resources expended Net (expenditure)/income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net expenditure |
320,956 2,640 10,279 1,020 13,939 334,895 (24,812) 184 (24,628) |
296,475 2,520 10,536 1,405 14,461 310,936 3,301 (4,176) (875) |
This page does not form part of the statutory financial statements
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