Page |
||
|---|---|---|
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 |
31.5.25 |
31.5.24 |
||
|---|---|---|---|
Unrestricted |
Total |
||
fund |
funds |
||
Notes |
£ |
£ |
|
INCOME AND ENDOWMENTS FROМ |
|||
Donations and legacies |
4 |
90 |
|
Charitable activities |
|||
Direct charitable income |
132,102 |
117,330 |
|
Other trading activities |
2 |
162,302 |
181,188 |
Investment income |
3 |
10,057 |
11,475 |
Total |
304,465 |
310,083 |
|
EXPENDITURE ON |
|||
Charitable activities |
4 |
||
Direct charitable expenditure |
313,635 |
334,895 |
|
Direct charitable income |
13 |
||
Total |
313,648 |
334,895 |
|
Net gains on investments |
11,638 |
184 |
|
NET INCOME/(EXPENDITURE) |
2,455 |
(24,628) |
|
RECONCILIATION OF FUNDS |
|||
Total funds brought forward |
364,641 |
389,269 |
|
TOTAL FUNDS CARRIED FORWARD |
367,096 |
364,641 |
Balance Sheet |
|||
|---|---|---|---|
31 May 2025 |
|||
31.5.25 |
31.5.24 |
||
Unrestricted |
Total |
||
fund |
funds |
||
Notes |
£ |
||
FIXED ASSETS |
|||
Tangible assets |
8 |
266 |
|
Investments |
9 |
181,646 |
170,008 |
181,646 |
170,274 |
||
CURRENT ASSETS |
|||
Debtors |
10 |
13,244 |
27,568 |
Cash at bank |
177,486 |
169,439 |
|
190,730 |
197,007 |
||
CREDITORS |
|||
Amounts falling due within one year |
11 |
(5,280) |
(2,640) |
NET CURRENT ASSETS |
185,450 |
194,367 |
|
TOTAL ASSETS LESS CURRENT |
|||
LIABILITIES |
367,096 |
364,641 |
|
NET ASSETS |
367,096 |
364,641 |
Society of £¥1 S¢holars In the United Kingdom and Ireland Notes to the Financial Ststements forthe Year Ended 31 May 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial stateinents of ihe cliarity, which is a public benefit entity under FRS 102, have been prepared in accordanct witli the ChariEies SORP (FRS 102) 'A¢¢ouniing and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financi01 Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effe¢iive l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ir¢land' and the Charities Act 2011. The finaiicial statements have been prepared under the historical cost convention, with the exception of invcstments wliich are included at market value. as rnodified by th¢ r¢valuation of c¢rtain assets. Income All income is recognised in tl)e StateiT)ent of Financial Activities once the charity h&s entitlement lo the fund& il is probable that the income will be received and the amouni Can be measuTed reliably. Expenditure Liabilifies are recognised as expenditure &s soon ag there is a legal or ¢onstructive obligation committing the chaTity 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. ExpendÉture is accounted for on an accruals basis and ha5 been classified under headings that aggregate all ¢osi related io the category. Where costs cannot be directly attributed to particular headings they have been allocated Éo activities on a basis consistent with the use of resouTce5. Tangible fixed assets Depreciation is PTovided at the following annual rates in order to write off each asset over its estimat¢d us¢fitl life. Computer equipment 331J/o on cost Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with ihe chariiable objectives at the discretion of the trusiees. Re51riGted fund5 can only be used for particular restrict¢d purposes within Ili¢ obje¢ls of the charity. Restrtctions arise when specified by the donor or when funds are raised for partieular restricted purposes. Investments Investments are ¢arried in the balance sheet at market value. The ststemcnl of recognised gain5 or105ses includes gains and losses on the revaluation of investments. Page 7 continued...
Society of Legal Schol8r$ in the United KSllgdom and Ireland Notes to the Financial StatemeDts- continued for the Year Ended 31 May 2025 OTHER TRADING AcfivITIES 31.5.25 31.5.24 Conference 162,302 181.188 INVESTMENT INCOME 31.5.25 31.5.24 Deposit account inleiest Dividends 759 9,298 2,643 8,832 10.057 11.475 CHARITABLE AcrivrriES cogrs Direct Costs (see note 5) Support costs Totals Direct charitable expenditure Direct charitable income 299,428 13 14207 313,635 13 299,441 14,207 313,648 DIRECT cosrs OF CHARITABLE ACTIVITIES 31.5.25 31.5.24 Joumals Adtninistralion Postage and stationery Insurance Sundries Seminars President's reception Conferen¢e costs Rese4r¢h activities fund Business meetings SLS priles Website Small projects and events fund Archiving and storage Subscriptions 13.631 31,358 645 611 13 8,307 6,005 153,532 43,871 3,691 3.600 10.070 23,355 8,436 30.838 837 1,096 9.029 5,282 185,408 31,405 3,306 2.600 17,921 23,699 743 486 Carried forward 299,175 320,600 Page 8 ¢ontinuod...
Society of Legal Scholars in the United KIHgdom And Ireland Notes to the Financial Ststements- ¢ontinued for thc Year Ended 31 May 2025 DIRECT COSTS OF CHARITABLE ACTIVITIES- continued 31.5.25 31.5.24 Brought forward Depreciation 299,175 266 320.600 356 299,441 320.956 TRUSTEES. REMUNERATION AND BENEFITS Ther¢ were no trustees, remuneration or other benefits for the y¢ar ended 31 May 2025 nor for the year ended 31 May 2024. Trus¢ees' exponses There were no tru5tee5' expenses paid for the year ended 31 May 2025 nor for ihe year ended 31 May 2024. COMPARATIVES FOR THE STATEMENT OF Fll¥ANCIAL ACTIVITIES (2021122) Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 90 Charitable activities Direct charitable income 117,330 Other Irading activities Inv¢sbnent income 181,188 11,475 Total 310,083 EXPENDITURE ON Charitable activities Direct charitable expenditure 334,895 Net gains on investments NET INCOMEI(EXPENDITURE) (24,628) RECONCILIATION OF Fuf4DS Total funds brought forward 389,269 Page 9 continued...
Society of Legal Seholar$ iD the United Kingdom 2nd Ir¢lalld Note5 to the Financial Statements- Continued for the Year Ended31 May 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (2021r22)- eontinued Unrestricted fund TOTAL FUNDS CARRIED FORWARD 364,641 TANGIBLE FIXED ASSETS Computer equipment COST At l June 2024 and 31 May 2025 1,067 DEPRECIA TION At l JiiD¢ 2024 Charge for year 801 266 At 31 May 2025 1,067 NET BOOK VALUE At 31 May 2025 At 31 May 2024 266 FIXED ASSET INVESTMENTS Lisl¢d investments MARKET VALUE At l June 2024 Revaluations 170.008 11,638 At 31 May 2025 181,646 NET BOOK VALU At 31 May 2025 181.646 At 31 May 2024 170,008 There were no investment assets outside th¢ UK. Pag¢ 10 continued...
Society of Legal Scholars in tbe United Kingdom and Ireland Notes to the Finan¢ial StateJnents- eoNtinued for the Year Ended 31 May 2025 io. DEBTORS: AMouNfs FALLING DUE wrrHIN ONE YEAR 31.5.25 31.5.24 Trade debtors Other debtors Prepaymenrs 12,758 27,555 13 486 13,244 27,568 ii. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.5.25 31.5.24 Other creditors 5,280 2.640 12. OVEMENT IN FUNDS Nel movement in funds At 31.5.25 At 1.6.24 Unrestricted funds General fund 364,641 2,455 367,096 TOTAL FUNDS 364.641 2,455 367.096 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds UDrestricted funds General fund 304.465 {313.648) 11,638 2.455 TOTAL FUNDS 304.465 (313.648) 11.638 2,455 Pagell conlinu¢d...
Society of LAgal Scholars In the Unlted Kingdom and Ireland Notes to the Financial Ststements- continued for the YeaT Ended 31 May 2025 12. MOVEMENT IN FUNDS- ¢ontinued CompaTatlV¢5 for movement in funds Net rnovement in funds Ai 31.5.24 At 1.6.23 Unrestricted funds General fund 389,269 (24,628) 364.641 TOTAL FUNDS 389,269 (24,628) 364,611 Comparative net moveinent in funds, included in the above are as follows.. Incoming resources Resourees exFended Gains and losses Movement in funds Unrestricted funds General fund 310.083 (334,895) (24,628) TOTAL FUNDS 310,083 (334,895) 184 (24,628) 13. RELATED PARTY DISCLOSURES Tliere were no related party transactions for tl)e year ended 31 May 2025. Page 12
Society of Ikggj Scholars in the United Kingdom and Ireland Detailed Statement of Finlncsal Activities for tbe Year Ended 31 May2025 31.5.25 31.5.24 INCOME AND ENDOWMENTS Donations and legacies S¢JninaTS- Royalties Other trading activities Confer¢nc¢ 162,302 181,188 Investment income Deposit account interest Dividend5 759 9.298 2,643 8,832 10,057 11,475 Charitable activities Subseriptions- metnbeTS Legal studies Reportersfjoumals Advertising 84,744 45,963 900 495 104,865 11,069 900 496 132,102 117.330 Tot*1 incoming resourees 304,465 310,083 EXPENDITURE Charitable activities Journals Administration Postage and stationery Insuranc¢ Sundrie5 Seminars PTesident5 reception Conference costs Research activities fund Business medings SLS prizes Carried forward 13,631 31.358 645 611 13 8,307 6,005 153,532 43.871 3,691 3,600 265,264 8.436 30.838 837 1,096 9,029 5.282 185,408 31.405 3,306 2,600 278,237 This page does not fortn part of the statutory financial statements Page 13
Society of t&gal Scholars in the United Kingdom and Ireland Iktailed St4tement of Financial Activities for the Year Ended 31 May 2025 31.5.25 31.5.24 Charitable activitie5 Brought forward Website Small projects and events fund Archiving and storage Subseriptions Computer equipment 265,264 10,070 23,355 278,237 17,921 23.699 743 486 266 356 299,441 320,956 Support costs Governance eosts Independent examiner's fee Administrdtion Bank charges 2,640 10,453 2,640 10,279 1,020 14.207 13,939 Totsl resources expended 313,648 334,895 Net expenditure before gains and losses (9,183) (24,812} Realised recognised gains and lo$$es Realised gains/(losses) on fixed asset investments 11,638 184 Net ineom¢l(eyp¢Ddlture) 2,455 (24.628) This page does not fom) part of th¢ ststutory financial slaiemenfs Page 14