TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Society ('the charity' or ‘the Society’) for the year ended 31 December 2024. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of accounJng and ReporJng by ChariJes: Statement of Recommended PracJce applicable to chariJes preparing their accounts in accordance with the Financial ReporJng Standard applicable in the UK and Republic of Ireland (FRS 102) (effecJve 1 January 2019) ("SORP (FRS 102)").
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and consJtutes an unincorporated charity.
Risk management
The trustees have a duty to idenJfy 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. The trustees regularly review the major risks to which the Society is exposed and have established systems and procedures to miJgate those risks.
OBJECTIVES AND ACTIVITIES
ObjecDves and aims
history, culture and other recognised academic subjects of Great Britain and Sweden.
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Awarding scholarships and grants to support Anglo-Swedish cultural and academic exchange.
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Hos9ng lectures, concerts, and events to promote Swedish culture in the UK.
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Suppor9ng young musicians, ar9sts, and students in their development.
ACHIEVEMENTS AND PERFORMANCE
Charitable and fundraising acDviDes
The society sponsored two arJsts on an art exchange between the Royal College of Art in London and Kons^ack in Sweden. They were Damaris Athene, who travelled from London to Konstfack, and ceramicist Pia Amsell, who travelled from Sweden to the Royal College of Art in London. They both received £5,000 each to help them with their studies. Swedish actor Filip Fransson received £1,000 to help him with his two-year MFA course at the East 15 AcJng School at the University of Essex. Music scholar Ami-Louise Johnsson was supported for a fich and final year for her Guildhall ArJst Masters (Performance), Advanced Instrumental Studies course. Violinist Amalia Young and pianist Jay Keys received £500 towards their travel to the Hjorted Music FesJval in Sweden. Talented young Swedish violinist Fabienne Glaser received the Baroness Maddock Scholarship of £5,000 to help with her studies at the Purcell School for Young Musicians. Diana Orving, a Stockholm-based arJst working with texJle sculptures and painJng, was sponsored to travel to the exhibiJon Slipping the Veil in London to exhibit a large-scale installaJon.
In January, a trip to the Royal Opera House was arranged to attend a rehearsal of Elektra, featuring a performance by Swedish soprano Nina Stemme. Anglo-Swedish Council member ChrisJna Cadogan gave a talk hosted by Jan Ankarcrona at the Axel Johnson FoundaJon in St James', London, about the sJrrings of arJsJc modernism in the Nordic world.
The writer, researcher, and criJc Fredrik Gustafsson gave a very insigh^ul online talk on the two greats of Swedish cinema: Hasse Ekman and Ingmar Bergman. Although Bergman is the best-known of the two, Gustafsson talked about the importance of Hasse Ekman and the collaboraJon and compeJJon between the two men. On Walpurgis night, the society celebrated the arrival of spring at the annual Valborg dinner held at the Travellers Club in Mayfair. Colonel Per Appelkvist spoke about Sweden's NATO membership at the Swedish Embassy to a packed audience. Colonel Per Appelkvist is the Swedish Military Aiaché to the UK and the Republic of Ireland. The talk was Jtled "From Nonaligned to NATO". The event was held in conjuncJon with the Society of Swedish Engineers in the United Kingdom. All four Nordic SocieJes in England - the Anglo-Swedish Society, the Anglo-Danish Society, the Anglo-Finnish Society and the Anglo-Norse Society joined together for a Midsummer Lunch at Lincoln's Inn. Members of the society had a very memorable visit to the Goodworth Cla^ord Vineyard owned by member Cecilia Haszlakiewicz and her husband Mark. The Society was delighted to sponsor two special Nordic art history roundtable talks during London Art Week. Former Master of the Armouries, Guy Wilson, and leading expert on early arJllery, Kay Smith, gave a fascinaJng and informaJve talk in the Library of the Swedish Church about the Gribshunden, the flagship of King John of Denmark, which sank in 1495. The Punsch Ball took place in the splendid surroundings of the Lansdowne Club in Mayfair. Over 170 guests enjoyed a champagne recepJon followed by a threecourse dinner in the beauJful Robert Adam-designed ballroom.
FINANCIAL REVIEW
Financial posiDon
Sheet, along with the related notes, which have been prepared in accordance with the statutory requirements of the Charities Act 2011 and the SORP (FRS 102).
Reserves policy
The Trustees consider that the most appropriate level of free reserves is a sum equivalent to twelve months of the Society’s running costs, which is calculated as total bank and payment charges, secretarial and website domain costs, as well as prinJng and staJonery costs for the year.
At 31 December 2024, the Society had unrestricted reserves of £75,080 (2023: £78,287). Of this, £25,296 (2023: £24,654) is held in investments to provide income, leaving free reserves of £49,784 (2023: £53,633). In addiJon, restricted reserves of £37,366 (2023: £35,353) are held, taking total reserves to £112,446 (2023: £113,639). The year-on-year stable level of reserves provides confidence that the Society will conJnue to be able to cover operaJonal costs and award scholarships as promised.
Principal funding sources
The principal funding sources of the Society;
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Membership subscripJons
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Grants and donaJons
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Fundraising events
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Investment income
Going concern
trustees, there are no material uncertainJes about the charity's ability to conJnue.
Approved by the trustees on [date] and signed on their behalf by:
……………………………………..
Alexander Maimaeus Chairman
29 April 2025
ANGLO-SWEDISH SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| Incoming resources Notes Incoming resources from generated funds 2 Voluntary income 2a Activities for generating funds 2b Investment income 2c Total incoming resources Resources expended Cost of generating funds: Cost of generating funds and voluntary income 3 Charitable activities 4 Governance costs 5 Total resources expended Net incoming expenses before other recognised gains Gains / (Losses) on investment assets 6 Net movement in funds Fund balances brought forward Fund balances carried forward |
Unrestricted Restricted Total Unrestricted Restricted Total funds 2024 funds 2024 2024 funds 2023 funds 2023 2023 £ £ £ £ £ £ 7,046 18,107 25,153 7,780 18,353 26,133 36,838 - 36,838 23,475 - 23,475 1,894 - 1,894 1,723 - 1,723 |
|---|---|
| 45,778 18,107 63,884 32,978 18,353 51,331 |
|
| 44,687 - 44,687 33,444 - 33,444 - 16,093 16,093 736 12,693 13,429 4,939 - 4,939 4,697 - 4,697 |
|
| 49,626 16,093 65,718 38,877 12,693 51,570 |
|
| (3,848) 2,014 (1,834) (5,899) 5,660 (239) 642 - 642 (593) - (593) |
|
| (3,206) 2,014 (1,192) (6,492) 5,660 (832) 78,286 35,352 113,638 84,778 29,693 114,471 |
|
| 75,080 37,366 112,446 78,286 35,353 113,639 |
The notes on pages 3 to 8 form part of these accounts
ANGLO-SWEDISH SOCIETY
BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Fixed assets Investments 6 Current assets Balance at bank and accounts Debtors, receivable within one year 7 Liabilities - amounts falling due within one year 7 Net current assets Net assets 8 Funds Unrestricted 8 Restricted Scholarships & Awards Fund 8 |
2024 | 2024 | £ £ 24,654 74,825 14,480 89,305 320 88,985 113,639 78,287 35,353 113,639 2023 |
£ £ 24,654 74,825 14,480 89,305 320 88,985 113,639 78,287 35,353 113,639 2023 |
|---|---|---|---|---|
| £ | £ | |||
| 25,296 | ||||
| 87,171 | ||||
| - | ||||
| 87,171 | ||||
| 320 | ||||
| 20 | ||||
| 87,151 | ||||
| 112,447 | 113,639 | |||
| 78,287 35,353 |
||||
| 75,080 | ||||
| 37,366 | ||||
| 112,446 | 113,639 |
For the financial year ending 31 December 2023 the Charity was entitled to exemption from audit under section 144 of the Charities Act 2011 relating to small charities.
Chairman: Alexander Malmaeus
Hon Treasurer: Linnea Kallman
The notes on pages 3 to 8 form part of these accounts
ANGLO-SWEDISH SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention 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 applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and applicable regulations.
Anglo-Swedish Society meets the definition of a public benefit entity under FRS 102.
The financial statements are drawn up on the going concern basis which assumes the Charity will continue in operational existence for the foreseeable future. The Trustees consider the current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for at least 12 months.
The Trustees are of an opinion that at the time of approval of these financial statements there were no indications suggesting that the charity would not be able to continue as a going concern in the foreseeable future.
- (b) Fund accounting
The funds held by the charity fall into the following categories:
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by a donor or when funds are raised for particular restricted purposes.
The Trustees consider that the most appropriate level of free reserves is a sum equivalent to twelve months of the Charity’s running costs
(c) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations, subscriptions, sponsorship and gifts and is included in full in the Statement of Financial Activities ("SoFA") when received. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Income from investments is included in the SoFA on the accruals basis. Tax recoverable on such income is recognised in the same accounting year.
Incoming resources from charitable activities are accounted for in the period in which the performance takes place.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts
ANGLO-SWEDISH SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
(d) Subscriptions
Subscriptions for individuals are included in the income and expenditure account on the accruals basis.
Corporate subscriptions are included in the accounts on an accruals basis.
(e) Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include any independent examination fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource.
(f) Investments
Investments are stated at market value. Gains or losses on revaluation are included in the SoFA.
ANGLO-SWEDISH SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
| 2 Incoming resources (a) Voluntary income Subscriptions Individuals Corporate members Other members Friends of the arts Patrons of the arts (b) Activities for generating funds Punsch ball income Buckingham Palace reception income Function income (c) Investment Income Dividends and interest Total incoming resources (d) Membership |
Unrestricted Restricted Total Unrestricted Restricted Total funds 2024 funds 2024 2024 funds 2023 funds 2023 2023 £ £ £ £ £ £ 6,846 - 6,846 6,580 - 6,580 200 - 200 1,200 - 1,200 - 11,447 11,447 - 13,663 13,663 - 1,560 1,560 - 1,690 1,690 - 5,100 5,100 - 3,000 3,000 |
|---|---|
| 7,046 18,107 25,153 7,780 18,353 26,133 |
|
| 26,263 - 26,263 14,520 - 14,520 10,575 - 10,575 8,955 - 8,955 |
|
| 36,838 - 36,838 23,475 - 23,475 |
|
| 1,894 - 1,894 1,723 - 1,723 |
|
| 1,894 - 1,894 1,723 - 1,723 |
|
| 45,778 18,107 63,885 32,978 18,353 51,331 |
|
At the end of 2024, there were a total of 345 members (2023: 275). Of these, 4 was a corporate member (2023:1), 78 were family members (2023: 61), 73 were life members (2023: 73), 98 were individual members (2023: 73), 16 were 25-and-under members (2023: 8), 49 were 65-and-over members (2023: 43) and 13 were overseas members (2023: 11), 3 honorary life members, and 2 annual-free members.
Life membership was closed to new members from 1995, but was re-introduced at the 2018 AGM, at 15 times annual individual membership, which means £600 with a 50% discount for the over-65s, at current levels.
The annual subscription is payable in advance on January 1st each year. Where appropriate, tax is reclaimed under Gift Aid on subscriptions.
Subscriptions are currently as follows: (i) for persons that are Members, £40 a year (2008: £20)
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(ii) for Family Membership, £50 a year (2008: £25)
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(iii) for Firms or Corporations which are Members, £200 a year (2008: £100)
An overseas subscription rate was introduced at the 2013 AGM: (iv) for persons that are resident overseas, £20 a year (2013: £40) A 25-and-under subscription rate was introduced at the 2018 AGM: (iv) for persons that are 25 years or younger, £10 a year (2017: £40)
16 members payed pre-2009 membership fees (2018: 16) and the Society is pursuing members to review their standing orders to ensure they are paying the correct amount.
Persons joining after 1 October need pay one-half of the appropriate subscription for that year
(e ) Charitable Status The entity is a registered charity (no. 289688) and accordingly, no liability to taxation arises on the year to the extent that income and gains are applied to the charity's charitable objects.
ANGLO-SWEDISH SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
| 3 Costs of generating funds and voluntary inco Function expenses 4 Charitable activities Grants and awards Printing, stationery and postage Website domain costs Website upgrade costs 5 Governance costs Secretary's salary and graphical work Bank and payment charges Total resources expended |
me Unrestricted Restricted Total Unrestricted Restricted Total funds 2024 funds 2024 2024 funds 2023 funds 2023 2023 £ £ £ £ £ £ 44,687 - 44,687 33,444 - 33,444 |
|---|---|
| 44,687 - 44,687 33,444 - 33,444 |
|
| - 16,093 16,093 - 12,693 12,693 - - - 360 - 360 - - - 376 - 376 - - - - - - |
|
| - 16,093 16,093 736 12,693 13,429 |
|
| 3,533 - 3,533 3,570 - 3,570 1,406 - 1,406 1,127 - 1,127 |
|
| 4,939 - 4,939 4,697 - 4,697 |
|
| 49,626 16,093 65,719 38,877 12,693 51,570 |
ANGLO-SWEDISH SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
| 6 Investment M&G The Equities Investment Fund for Charities Cost £10,000 Income units 1,718 Market value at 1 January (Loss) on revaluation at 31 December Market value at 31 December 7 Debtors: receivable amounts due within one year Committed payments to be received 7 Liabilities: amounts falling due within one year Payments received in advance |
2024 2023 24,654 25,247 642 (593) 25,296 24,654 2024 2023 £ £ - 14,480 |
|---|---|
| - 14,480 |
|
| 2024 2023 £ £ 20 320 |
|
| 20 320 |
8 Funds
| Unrestricted Funds Restricted Funds Scholarships & Awards Fund Unrestricted Funds Restricted Funds Scholarships & Awards Fund |
As at Incoming Resources Unrealised As at 01.01.24 resources expended invest. gain 31.12.24 £ £ £ £ £ 78,287 45,778 (49,626) 642 75,080 35,353 18,107 (16,093) - 37,367 |
|---|---|
| 113,639 63,885 (65,719) 642 112,447 |
|
| As at Incoming Resources Unrealised As at 01.01.23 resources expended invest. loss 31.12.23 £ £ £ £ £ 84,778 32,978 (38,877) (593) 78,286 29,693 18,353 (12,693) - 35,353 |
|
| 114,471 51,331 (51,570) (593) 113,639 |
The Scholarships & Awards Fund was established in 2002 to provide scholarships and academic support together with grants for similar purposes.
Unrestricted Funds
The Unrestricted Fund represents the free reserves of the Charity.
ANGLO-SWEDISH SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
8 Funds - continued
| Grants and scholarships were paid out as follows during the year: January 2024 The Swedish Church donation February 2024 Guildhall School Trust Scholarship March 2024 RCA scholar Spring 2024 (Róisín O'Connor) March 2024 Konstfack 2023/24 (Johan Adam) March 2024 Coscan donation May 2024 Svanholm Singers September 2024 Hjorted Art October 2024 The Purcell School |
£ 60 5,000 2,250 2,250 33 1,000 500 5,000 |
|---|---|
| 16,093 |
9
Analysis of net assets by fund
| Fixed assets Current assets Fixed assets Current assets Current liabilities |
Unrestricted Restricted Total funds funds 2024 £ £ £ 25,296 - 25,296 49,805 37,367 87,171 |
|---|---|
| 75,081 37,367 112,447 |
|
| Unrestricted Restricted Total funds funds 2023 £ £ £ 24,654 - 24,654 53,952 35,353 89,305 320 - - 320 - |
|
| 78,286 35,353 113,639 |
10 Trustees' and other remuneration
No members of the council nor any person connected with them has received or is due to receive any reimbursement of expenses or any remuneration for the year or all prioir years.
There were no fees or expenses paid for the year or all prior years with respect to the independent examination of the accounts.
11 Commitments
The Society has made no commitments for payments in 2024 as at 31 December 2023 not included in these accounts.