2021-12-31-accounts - Industrial Law Society

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

INDUSTRIAL LAW SOCIETY

www.industriallawsociety.org.uk

Chair Co-ordinator Sarah Fraser Butlin Jean Hughes Cloisters 18 Graysmead 1 Pump Court SIBLE HEDINGHAM TEMPLE Essex C09 3NY London EC4Y 7AA Tel/Fax: 01787 463838 Email: sfb@cloisters.com Email : jean@industriallawsociety.org.uk Tel: 020 7827 4000 Office Hours: 9am to 1pm

Treasurer’s Report 2021

This year’s report is presented once again accounting for the activities of the Society on a “Receipts and Payments” basis.

In spite of the continuing uncertainty surrounding the pandemic the Society made a surplus of £14,546 for 2021.

Subscription Income

There was a very modest increase of 3% in Individual subscription income. Corporate subscription income however, decreased by some 11%, which is most likely due to the many cut-backs by companies that are being made due to Covid-19.

Sales of the Journal

Sales of the Journal were strong again in 2021 with £9,394 being received from OUP in respect of profit share scheme.

Annual Conference

As the country was in lockdown for much of 2021 the majority of the Society’s events were held virtually. Whilst the Summer Party/BBQ was postponed for another year, the Society’s Executive Committee took the decision, after reviewing results of a survey which had been sent out to members, to host a hybrid Conference at Keble College in Oxford which worked very well for both in person attendees and those who joined in virtually via zoom.

The Society’s Annual Conference made a profit of £5,964 after securing a refund of venue hire from Keble College of some £11,435. This was obtained after many discussions with the College when they eventually agreed to waive the minimum number of delegate requirement for our Conference booking.

The £135 for the postage, printing, promotion and consumables relate to the additional cost of buying face-masks and hand-gel for all in person delegates which we hope went a small way to making the hybrid Annual Conference as Covid-safe as we possibly could have.

There was no sweepstake at the 2021 Annual Conference but instead £500 was paid to the after-dinner speaker’s charity of choice which was ‘Action Refugee’. This sum is recorded under speakers’ expenses.

Evening Meetings/Webinars

The deficit incurred on Evening Meetings declined somewhat to £3,391, a drop of some £5,612 from the previous year, which as mentioned above, was due to the majority of the Society’s sessions being held virtually in 2021.

Honorary President: Sir Patrick Elias, Vice-Presidents: Saphié Ashtiany, Professor Catherine Barnard, Mr D Cockburn Professor Paul Davies QC, The Hon Mrs Justice Eady DBE, Lord Hendy QC, Sir Brian Langstaff, Michael Rubenstein, The Hon Mrs Justice Stacey DBE, Melanie Tether, Lord Justice Underhill A Registered Charity: No. 292145

-Page 2-

….Cont/d

________________

After the success of the Annual Conference two hybrid evening meetings were booked and paid for. However, due to the prevalence of the Omicron variant, at very short notice the decision was made to switch December’s session to online only and the Society was still therefore liable for the cost of venue hire etc for that event.

Speaker expenses relate to November’s hybrid session of some £480 for the speaker’s travel expenses from Scotland and overnight hotel accommodation.

AV Technician is a new additional expense for the Society’s hybrid evening meetings. The Law Society does not currently have webinar equipment in their lecture room and no longer has a full-time in-house technician working for them! The freelance technician the Society has secured sets up the camera and microphone equipment purchased by the Society and will also sit in every evening session to monitor AV feeds etc, to be on hand if needed and fix any AV issues if they arise.

General Income & Expenditure

The Society spent £766 on a professional zoom camera, microphone, a case to carry the equipment, stands, port ways USB, adapter data extender hubs, splitter and appropriate cable connectors. £40 was spent on a laminator to laminate dietary preference cards for delegates with special dietary requirements as requested by Keble College.

The Society’s web-site was modernised in June 2021 at a cost of £2,812. A further £93 was also spent on fixing an IT issue with the Society's email system.

£470 was raised for charity in December 2020 during the virtual Pub Quiz. The donation to MIND cleared the Society’s account in early 2021.

There was a reduction in venue hire; printing; postage and stationery; and secretarial expenses due to Covid-19.

Increases in insurance premiums, telephone/email/broadband and zoom accounts arose from retail price hikes.

The co-ordinator’s annual pay remains unchanged. The increase of £969 is attributable to the timing of the payments of NI & Tax to HMRC.

Bank charges increased by some 11% reflecting the continuing ever-increasing use of online banking transactions by the Society’s members during the pandemic. The Society is in the process of applying to change online Merchants with lower tariffs.

Gifts of some £146 were made to a former Vice-Chair of the Society who stepped down after serving on the Committee since April 2011 and who had been Vice-Chair since 2015.

General

Finances have remained extremely healthy and funds available for charitable use have risen to £94,546.

2021 has been another incredibly difficult year for so many people but due to the continued support of the Society’s members, the Chair, Officers and Committee can continue with their commitment to the continued success of the Society, its membership and events which we hope will go from strength to strength in the coming months and years.

Nike Balogun Treasurer, ILS

Honorary President: Sir Patrick Elias, Vice-Presidents: Saphié Ashtiany, Professor Catherine Barnard, Mr D Cockburn Professor Paul Davies QC, The Hon Mrs Justice Eady DBE, Lord Hendy QC, Sir Brian Langstaff, Michael Rubenstein, The Hon Mrs Justice Stacey DBE, Melanie Tether, Lord Justice Underhill A Registered Charity: No. 292145

Ir4DEPENDENT E&mINER's REPORT TO THE TR STE ori THE INDUSTRIAL LAW SOCIETY I report on the accounts of the Society for the year ended 31 December 2021, which are set out on pages I to 4. Respectlve respoDsibilitie5 of trust¢eJ and ex4mlner As the charity's inis(ees you are responsible for the preparation of the accounts. you consider that the audit requirement of section 43(2} of the Charities Act 1993 (the Acl) does not apply. It is my responsibility io slate, on the basis of proccdur¢s specified in ihe General Directions given by the Charity Coinmissioners under section 4317}Ib) of ihe Act, whether particul8r matters have come to my attention. Basls of Independent examlner's report My examination was carried out in accordance with the General Directions given by the Charity Coinmissioners. An examiiiaiioi) includes a revi¢w of the accounting records kept by rhe charity and a comparisoi) of the accouiils presented wilh those re¢ords. li also includes consideration of any unusual items or disclosures iii Il)e accounts. and seeking explaiialioiis from you as tlllslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and COnslent[Y I do nol express an audit opinion on the view given by the accounts. Independent examlner's $tatem¢nt In connection with my examination, no matter has ¢om¢ lo my alleiilion.. { l ) which gives me reasonable causc lo belicve Ihal in any Inaterial re4pect the requirements lo keep accounlllig record5 ili accordance with section 41 of the Act and lo prepare ac¢oui)t8 which accord with th¢ accounting records 2nd lo comply with the accouiitin8 requiren)enls of the Acl have not been mel or {2} to which. in my opinion, attentioft should be drawn in order to enAble a proper understanding of the accounts to be reached. R.D. Ginbey 3 Page Road BOWERS GIFFORD Basildon Essex SS13 2HP

ACcOUNT¥T,s REPORT In accordance with insttuctions given to us we have prepared the atlached Accounts from the records and from infornilltion and explanations received from the Treasurer of the Industrial Law Society and we certify that it is in accordance therewith. R D Glnbey 3 PaRe Road BOWERS GIFFORD Baslldon E.$S SS13 2HP

THE INDUSTRIAL LAW SOCIETY STATEMI ENT OF ASSETS AND LTABILITIES AS AT 31ST DECEMBER 2021 2021 2020 ASSETS RETAINED FOR THE CHARITY'S OWN USE Office Equipment at Cost Addition.8 14,143 806 14,143 14,949 14,143 CASH ASSETS Cash at Bank 94.546 80,806 LIABILITIES Donation to MIND (Pub Quiz) HMRC Payroll Adinin Telephone {incl e-mailll)r0adblZ0om} Annual Conference Intemation81 Socieiy for Labour Law Siationery 470 503 225 492 225 202 96 252 30 Approved..............................Chair

THE INDUSTRIAL LAW SOCIETY INCOME ND EXPENDITURE ACCOUNT YEAR ENDED 31 DECEMBER 2021 2021 020 INCOME Sub5¢riplion5.' Individual Corpornle 28,859 15,510 9,394 27,893 17,555 11,456 Journal Sales Deposit Account Interest 53,763 56,904 LESS EXPF.]YDITURE Postage & Slatiortery Employment Ixpenses: Inc. employers, Nl lrtsurdnccs Intomiation Commissioners Office Secretarial Expenses Affiliation ]d accredilalion Fees Bank Chary¢5 Printin8 Telephone (incl e-mail/bn)adbaiidlzoom) 1,650 Accountdncy & Pdyroll Administration 1,135 Gifts 146 Miscellaneous Einaivwebsile development oup 141 287 30,477 2,616 35 29,508 2,239 35 81 287 1,974 39 2,215 1,471 1,350 55 2,905 251 41,320 37.577 12,443 19.327 SURPLUSI{DEFICIT) 0 CONFERENCES & EVENIING MEETIYGS 2,103 (6,188) (DEFICIT)ISURPLUS FOR THE YEAR 14

THE INDUSTIUAL LAW SOCIETY INCOME AND EXPENDITURE ACCOUNT YEAR EYI DED 31 DECEMBER 2021 2021 2020 ANNUAL CONFERENCE Income 30.938 7,618 Less Expenses Venue hire (incl.. A V Aids) Spealcers Posta8c. Printing, Promotion & consumables 23.814 1,025 3,000 73 135 24,974 3,073 SURPLUSI(DEFICIT) 5.964 4,545 SUMMER PARTY (JUNE) Incorne Less Expenses Hire of venue Speakers Postagc. Printing & Promotion 2,200 2200 SURPLUSI(DEFICIT) (2,200)

THE INDUSTRIAL LAW SOCIETY INCOl¥fE AND EXPENDITURE ACCOUNT YKAR ENDED 31 DECEMBER 2021 2021 2020 PUB QUIZ (DECEMBER 2021) Income 470 Less Expenses Donation to MIND Hire of venue Spcakers Postage, Printing & Promotion & consumables 470 SURPLUSI(DEFICIT) (470) 470 EVLYING MEETINGS: (ALL CENTRES) Income 549 150 Expenses Hall Hire Sp¢ak¢rs expenses AV Te¢hni¢iaii Postage, Printing, Promotion & consumables 2,946 480 421 7,508 1,645 93 3,940 9,153 SURPLUSI(DEFICIT) TOTAL SURPLUSI{DEFICIT) ON CON'FERENCES AND EVENING MEETI.Tr4GS