Charity number.. 294638 IMPERIAL SOCIETY OF KNIGHTS BACHELOR UNAUDITED COUNCIL'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
IMPERIAL SOCIETY OF KNIGHTS BACHELOR CONTENTS Page Roforon¢o and admlnlstrative dots11$ of th• Charlty. Its Coun¢ll and advlsers Council's report Indopondont •xaminor'$ rnport Statsment of financial activiti Balance sheet Statsm•nt ol cash flow8 Notes to th8 financial statom•nts 9-22
IMPERIAL SOCIETY OF KNIGHTS BACHELOR REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARITY. ITS COUNCIL AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Coun¢ll.. The Rl. Hon. Sir Gary Hickinbottom (Knuht Principall The Rt. Hon. Sir Tony Baldry, DL IRegi$lrarl Sir Prilpal Singh (Treasurer) Pre&dent. Welsh Tribun81s.' fomier Lord Justice ofAppeal. Member. General SynThJ. Chaimian. Church &Jiklings Counryl.. Chaimian. Trustees. St Elhelburga's Centre for Peace and Reojnaliation.. Chairnian, Westrninslar Group plc., forrner Mernber of Parliament and Minister of Stale. Fonn8r Head, Drayton Manor Hvjh School,. fomer Non-Executive Director of East Berkshire NHS Twst". forner Member of Education Committee of The Royal Soety., foTrner Joint Director of London Leadership Strategy." fotrner Chair of National Awards Panel. PTA-UK." Promethean Award lor Head Teacher of the Year. LonL1on. 2004 Sir Ben ngsleY Sir Michael Hirst Foner Chairman. Pagoda Public Relaons Ltd. fotmer Member of Parliament. Former Chaimian mIlL$tam Assotsates Lld. past Global President. International Diabetes Federabon. Sir Brian Pomeroy. CBE President. Finanaal Indu5ion Commi55ion". fOer Chairnan. Age UK. Finanaal Iretiretl al AGM, 17 Juty 20241 Inclusion Taskforce. Gambling Commissw)n, Centrepoint. Sen Intlependent Dirècter. FanCIal Condud Authonty. fomer Senior Partner, D&loitte Consulting. Chairman, King'5 Group BritK5h In¢emaoal Sthoo15 and King's Group Acad•mi•s'. President. Counol of Bntssh InlematKnal S¢hool$. Member, British Council Education Ad¥Asory Board. Director. Woifson Dwg Disujvery Unil. & Emeritus Professor of Medicine, Universrty Colleg¢ LoThdon.' Hon. Con$uttant Phy$ic49n, Royal Frge London Foundation Trugl,. Hon F81ow. Trinty Colkge. carnbTh1. Commisshjnèr of PolK• ol the Melropolis ol LondM. Director of the Royal Colge of Organists.. lo8r Lord Mayor of London. Gertsral PraeliOner. Brornlèy-By-Bow Partnership." Vic• Pr•sidont Que8n$ Nutsing Inslilule. Honorary Professor. Queen Mary University London, Assoaats Director NHSR,, Non-Execulwe ELFT Mental Heallh NHS Tw$t.. Methr of Ihg RCGP Counc41. Sir Rog•r Fry, CBE Professor Sir Mark Pepys. FRS Sir ma Rowkey. QPM Sir Andrew Parnley,KSU Sir Anthony Ev•rington, OBE Sir Christopher Greenwood, GBE, CMG. KC Master. Magdalene colge. CambTrJge.' 8 Judge ol the Iran-united Stales Clairn8 Tnbunzl. Internatnal arbitrator. Senior Mombern: Sir Colin Berry (Knighl PresentI Profesr Emefitv$. Queen Mary UnNersity. London.. fom)er member. Meolical Research Council and General MedKal Counal. The Rl. Hon. the Lord Lingfieh (Knight Vice-PresKlonti Chaimian, The Chartered In$biution for Further Edurats"on'. ConservatNe Member of the House of Lords. Sir Jeremy Ehves. CBE (Knight Vice-Presh48nti Trustee of $everal heahh-related thare$.. lonner Human ResoUe8 Director. Charlty r¢gi$t¢red numbgr 294638 Principal offic• M3gne5ia House. 6 Playhouse Yard London EC4V SEX Philw) Beddows Berg Kaprow Le LLP Accountants 35 BalLqrds Lane London N3 1XW Clork Accountants Independent Examlner Stephen Meredith FCA DChA Alliotts LLP Chartered Accountants. 3 London Square. CsS Lanes Guildford Surrey GU1 1 UJ Page 1
IMPERIAL SOCIETY OF KNIGHTS BACHELOR COUNCIL'S REPORT FOR THE Y&4R ENDED 31 MARCH 2025 COUNCIL'S REPORT Tha Council, as trustees of the Chanty. aTe Pased to Present IheiT report and the audTted financial statements for the y&ar ended 31 March 2025 The financial slalements have been prepar&J in accordance with the accounting poli88 set out on page 10 an¢J cornpty wrth Ihe charty5 deed and applrabk law. Hlstory The founding of The Impenal Souety of KnwJhts Ba¢heltsr I'The Souety'l was th99ed by a al action against the Walker Trustees In Edinburgh who, as hokjers of the Off longinalty by purchase) of Usher of the Vvhite Rod under the Walker Trust Act of 1877. claimed entitment to certain dues from those persons rec8Ning honours from the Crown. Many Knights objected lo this. In 1902 a change had been made in the procedure connected with promotions of honour. The Central Chancery of the Orders of Knvjhthood lin5ti1uted by King Edward Vll in that yearl was given control of procedure for the {tmOnial admission and promobon of all members of Ihe Statutory Orders. but not the Knights Bachelor. The Walker Trustees case hhlIghte the fact that Knghts Bachekn had no pSentave body to speak for them. In the face of the IIlKJalion. Sir William Bull MP c•lbd a meets"n9 of Knghts 8achebr In the House of Commons lo consKler this issue. As a result of Ihis. a formal meeting was convened at 31 Essex Street. in the Strand, on 27 April 1908 at which the Society of Kh1$ Bathelor was founded. In 1911 the Judici81 Committee ol the House of Lords hekl that the ryhl of the Waker Trustees could no longer be enforced and that they were no longer entitled to daim fees frorn Ihe recIpnts of honours. The initial prime motive for the formation of the Society had thereby been ach¥ed. In 1912 HM King Geor9e V pennthd the Sw'?ty ils styk of'lmpgriar. Having been dedicated tc charitablè wtsuits Sirth its gInnIng5. Ihtr Socièty tam mgistèrèd as a chArity in May 198e (Charity number 2946381. Obl8ctlveJ and 8ctlvStS0• . Obl•¢tlv•8 The Socty undertakes charitable pursuit8 in line with its Charitab objects.. To uphold the slalus, dKJnity and slandin9 of KnvJh¢s 8a¢hekJr 8Thd to support other ¢h&rilabl8 purposes. induding the relf of poverty. the advancement of eduCatTh and relwJion. the maintenance. SUPPOrt and improvement of hospitals 8nd of those afflicted by Illness or disease, the maintenance of our chapel. and any other objective which is exdusively charrtable. The management and the affair5 of The Soaety are vested in the Counal. At each Annual General Meeting one third of the elected mernbers are required lo retire but are eligib for re-eknlion. Any Nvc members of The Society may commend lo the Counol any member of The So¢ty as a ¢andKlate for eledion lo the Council. It is 8 policy of the Council lo recwit Members and off1$ of the Councd whts have a mix of skills and experen¢e. b. Main activiti08 The Society denves its Income mainty from annual and lrfeb.me subscriptions from members 109ether with donations. In addition, incorne 15 received from cornm150n on sale of insynia. rnerthandise and from investment incorne. In setting our objecbves and planning our ath"1$. the Trustees have gNen calu1 consideration to the Charity CommBsion'$ general guKlan on pubk benefit. The Society continues to rnainlain the Knights. Chapel. (part of Sl Failh's Chapel) in the Crypt of St Paufs Cathedral, following the dedication of the Chapel in the presence of Her Majesty Queen Eloabeth al a Special servi(* In 2008 The Soaety maintains Register5 of all Knights Bachelor from 1257 to the present day. These Register5 are kept in speaal display cabinets In the KnwJhts' Chapel. We continue to sponsor a thorister. who attends the St Paul's Cathedral School. We have also. in prior years given donations to Family Action and lo our Platinum Jubilee Tree5 Project (see below). Our grants to Family Action have helped their 'FamilyLine' ID Scolland. a free. confidential helpline providing pradical and ernotional 5UPPOrt to anyone ¢•ring fora ¢hild or young person_ sin November2023. FamibiLine has supported 188 individuals in 8tIan1. Page 2
IMPERIAL SOCIETY OF KNIGHTS BACHELOR COUNCIL'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Icontinuedl The mostc(Mnmon neemS raised induded relatsonship i8sues164%1. menlaland emOtnal heatth1270AI. and finanryal drfficuttk?s125%1. Thase were folbwed by issue5 such as dcffle5th'c zbuse, kgal rnatters. and parenting ChaInge5. During this financial year. the soCty held luncheons for members and their guests, followed by an address from a guest speaker. The Sociaty's Scottish DNision akn hekl an annual dinner and lads. luncheon. Oble¢tlv$ and a¢tlvltle$l¢oniinuedl On 181h July 2024. the Society held ils Annual Servte of Ded¢alK)n at St Paul's Cathedral. The semon was gNen by The Bishop of London. The service was followed by a reception in Othec3eS. Hall. Gue51s induded th8 Souety's Members and Iheir guests. a1 the WKlo8 and tsmilies of Ihe Socty's Memb¥s who had died during the past year. On 121h December 2024 the Socvdty h81J 8 Carol S8r¥icg in The 'ng'S Chapel of ihe Savoy, conducted by the Chaplain of The King s Chspel. In the autumn 2021, we launehed a fundratsing ¢ampayn for T&$ for The Queen's Geft Canepy. lo martt our late Patron Her Late Maje$ly s Platinum Jubilee In 2022 Our lundraising was now compkled although not befo the sad death of HM Qu&en Elizabeth 11, our patron since 1975. The Knhjhls, Copse In the WaLsall AarelUM Isupported mostly by members residing in England) was fornalty opened on 28th April 2023 by Ihe Lord Lieutenant ofwesl Midland5. The Cashel Orchard on Ihe banks of Loch Lornond Isupported by our members resvjing In Scollandl. was opened on 241h May 2024 by the Lord Lutenanl of Stirfin9 and Falkirk. The final project we have supported has been to sponsor the purchase and planting of oak trees al oU1¢h Picture Galknry in London. as part of an inspiring proje¢l lo Create an Art Forest. within 8n engaging landscape where cuw8nl and future generabons will abk8 to engage and connect with natur•. Each year, the Society responds lo requests for informabon from Knghts Bachebr. their families. and members of the public, regarding protocol and other related issues. We are Irequentty approached by professional organisations and solicitor5 to a5Sis1 with the verification of Knight Bachebr Ill5, a t35k we undertake in consultation with the Central Chancory of th Ord•rs ol Knwhlhood and the Cabin•t Offi¢•. The Society makes a particular effort lo rernain in touch the widows of deceased KnwJhts Bachebr. Widow$ are 8150 invited to 8ttend our annual service ol dedica0. togelherwilh mernbers of their families. RESULTS FOR THE YEAR Th• Soa•ty had an ineom• of £115.922 12024. £117.5591 and had lolal •xp•ndilur• of £178.145 12024.. £144,318) before the Sooety suffered Investrneni k)ss 01 £30.534 12024 gain of £54.3961 to show an overall nel negative movement in funds of £92.75712024 £27.637 posilwe m¢)vementl. Tolal nel 8s$ets were £973,80812024. £1,066,5e51 comprising reJlri¢ted fund$ gf £359.80412024..£343.0621 and uTrreJlrided fv[S of £614,00412024..£723,5031. a. R•8•Th•• policy It is the policy of the charity lo rnainlain unreslricted fuTrJs. whKh are the free reserves of the charity. al a level which 8qUat85 10 at least six months UnreStrted 8xpendiiur8. This prOdeS suffioent lunds to cover grants, rnanagernenl, administration and support cash. Unrestncted lunds were maintained comfortabty above thi5 level throughout Ihe year and frea r8s8rve6 W8r8 £529,870 12024. £673,550) at the year end. b. Investment Pollcy The Council seeks lo optimise Income on funds he. most of which a in¥e$ted into COIF funds whose performances are regularly ¥wed. Our investment pothho ha$ l)een rethe*td during the past year. Risk review The Counol awa of Ihe rsks Ihat the $ty 1$ exposed to latin9 to operational. b9al and finanual matters and ha5 satisfactory Sy5terns in place to manage the risk5. We have a rk register in place which has been reviewed during the last year. d. Fundral$¢r No professional fun¢Jrai%ers a used by Ihe ¢harity. Page 3
IMPERIAL SOCIETY OF KNIGHTS BACHELOR COUNCIL'S REPORT FOR THE YEAR ENDED 31 PIARGH 2025 (Continuodl ststemfrnt of Coun¢ll'8 to8ponslblllt• Law applicab18 to charit5 in England and Wa18s r8quire5 th8 Counal M8rnbers to prepar8 finanaal statements for each financial year which give a Irue and fair VEW of the charity's financial activilie5 during the yearand of It5 financial position at the end of the year. In preparin9 fin8nrJal statements gwing 8 tnje 8nd fair vw. the Council should follow best practice and". seled suirabb accounting poIleS and then appty Ihem consi$tenUy'. make judgements and eslim8tes that 8fe re8sOnab and prudent.. state wh&ther applicab accounting standards and slaternents of recommended practica have bean followed, subied to any departures dtscl>sed and explained In the finanoal statements.. and prepare the financjal ststemenls on a 9oire lnCern ba$ unb$$ il is inappropnate lo presume that the Society will conts'nue in op&ratKSn. The Council is responsitib for keeping proper acLounting records wh¢h disdose with asonable accuracy al any time the financial position of the Charity and which en8ts il lo both ascertain the finanaal position of the charity and whith enab il tc ensure that the Iinancial statements cornpty wilh app1tats law. regulaiions. and its constitution. They ar• also responsits lor safeguarding Ihe assets ol the Chanty and hencts for laking reasonabso stsps lor the pravènlion of fraud and other 1rre9ularitS. 03 DK 2025 Approved by order of the members of Ihe board of ¢ounul on s.. P.,4pthl S,. Q . tsYPrtTrl&nuhifJ•¢.4. 2Q15.IAW>I...... Slr Pritpal Slngh Treasurer The Rt. Hon. Slr Gary Hlckinbottorn Knight Principal Page 4
IMPERIAL SOCIETY OF KNIGHTS BACHELOR INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent examinerfs report to the Council of Imperial Society of Knights Bachelor I'the Charity'l I report to the charity Council on my examination of the accounts of the Charity for the year ended 31 March 2025. Rasponsibiliti8s and basis of report As the Council of the Charrty you a resw)nsible for the ParatiOn of the accounts in accordance w(th the requirements of the Charities Act 2011 Ilhe 2011 Adl. I report in respect ol my examination of the Chantys accounts Carried out under section 145 of the 2011 Act and in Carwng out my examinab.on I have followed the applicable Directions given by the Charity Commission under section 1451511bl of the 2011 Act. Ind•pondont oxamln•r'8 Sttsm•nt Your attention is drawn to the fact that the Charity has prepared the accounts in accordance wlh Accounting and Reportin9 by Charits'es.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporbng by Charib"es". Stslemenl of Recommended Practs'ce issued on 1 April 2005 which is referred lo in the exlanl regulations bul has been wthdrawn. l understand that this has been done in order lor the accounts lo provide a true and fair wew in accordance wlh the Generally Accepted A¢¢ounbng Pracb"ce effective for reporb.ng perd5 beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come lo my attention in connection wth the examination giving me cause lo believe that in any material respect.. accounting rerdS Vre not kepl in respect of the Charity as require(I by secb'on 130 of the 2011 Act,. or the accounts do not accord those records., or the accounts do not comply the applicable fequirements conceming the fom and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulions 2008 other than any requirement that the accounts give a True and fail view vthich is nol a matter considered as part of an independent examination. I have no ¢on¢erns and have come acToss no other matters in connects.on vrfrth the examination lo which attention should be dravm in this report in order lo enabie a proper understsnding of the accounts lo be reached. This report 15 made 501ely to the ChaTiV5 Council, as a body, in accordance wrth Part 4 of the Charitie5 (Accounts and Reportsl Regulation5 2008. My work has been undertaken so that I might 5ts1e lo the Charity'5 Council those matters l am required lo slate to them in an In(Jependenl examiner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume lesponsibility to anyone other than the Charity and the Charity's Council as a body. for my work or for this report. 04 Dec 2025 Signed.. rÉ Dated stephell Meredith IDEc4. 2025. 9..) Stephen Meredith FCA DChA Alliotts LLP 3 London Square Cross Lanes Guildford Surrey, GU1 1UJ Page S
IMPERIAL SOCIETY OF KNIGHTS BACHELOR STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 R¢strl¢t¢d Unr•strlct•d fvnd$ fvnd$ 2025 2025 Totsl funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activrtj'es 59,567 21,543 18,070 59,56f 21.$43 34,812 60.450 23, 724 33,385 Investments 16.742 Totsl incomg 16.742 99,180 115,922 117,559 Exp•ndltur• on: Charitable activrtj'es 178,145 178,145 144,318 Total oxp•ndltur• 178,145 178,145 f 44,378 N•t mov•ment In funds fOre oth•r r•¢ognl$od galn8111055•51 16.742 178,9651 162,2231 (26. 759? Other r8cognis•d gainslllossos): (Lossesllgains on revaluation of fixed assets 130,5341 130,S341 54.396 Net mo¥om•nt Sn funds 16.742 1109,4991 192,7571 27,637 Roconclllatlon of funds: Total funds brought foNtsTd Nel movement in fvnds 343.062 16.742 723,503 1109,4991 1.066,565 192,7S71 7,038,928 27,637 Total funds carriod forward 359.804 614,004 973,808 1,066,565 The Stslement of financial activrties includes all gain5 and h)yses recTranised in the year. The notes on pages 9 10 22 fom) part of these financial slatemenls. Page 6
IMPERIAL SOCIETY OF KNIGHTS BACHELOR BALANCE SHEET AS AT 31 MARCH 2025 As Restated 2024 2025 Fixed assets Intangible assets Tangible assets Investments 12 13 14 1,047 83.087 624.801 2,092 47,86t 655,335 708.93$ 705,288 Curront a$s•ts Stocky Debtors Cash al bank and in hand 15 16 30.142 12,378 436,740 16, 155 9.000 548,008 479,260 573, 163 Creditors.. amounts falling due wthin one year 17 {30,0561 (42,596) N•t currnnt a¥¥et8 449.204 530,567 Total a8Sets less current Ilabllltles 1,158.139 1,235,855 Creditor5.' amounts falling due after more than one year 18 {184.3311 (169,290) Totsl net assets 973,808 1,066.565 Charlty funds Reslricled funds 21 359.804 343,062 Total restricted funds Unrestricted funds 21 359.804 614.004 343,062 723,503 21 Total fund$ 973,808 1,066.565 The financial statements were approved and authorised for issue by the Council and signed on their behalf by.. SirG8ry kinb¢orn(L 3. 2025. 5'.52prnl The Rt. Hon. Sir Gary Hickinbottom Knight Principal 03 Dec 2025 Dale The notes on pages 9 to 22 fonn part of these finanaal statemenls. Page 7
IMPERIAL SOCIETY OF KNIGHTS BACHELOR STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 202S 2024 Cash flows Irom operating a¢tlviti Net cash used in operating activities {146,0811 (39,271) Cash flows from invosting a¢tlvltl•$ Income from investments 34.813 33,385 Not ¢a8h providèd by Inv•stlng •¢tlvbtb•s 34.813 33.385 Cash Ilovm from financing activities Not cash provld•d by flnanclng actlvltl•8 Chang• in cash and cash •quSval•nts in the year Cash and cash equivalents al the beginning of the year {111.2681 548.008 15.8861 553,894 Cash ond cash equivalents at the gnd of year 436,740 548,008 The notes on pages 9 10 22 fonm part of these financial Ststemenls Page 8
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infomiation Imperial Society of Knights Bachelor is a mLrtual membership society governed by rules adopted in May 1986 and amended in June 2000. Accounting policies 2.1 Basis of preparation of financial stat8m8nls The financial statements have been prepared in accordance wth the Charities SORP IFRS 1021 A¢counling and Reporting by Charrties." Statement of Recommended Practice applicable lo charilieg preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charits'es Act 2011. Imperial Society ol Knights Bachelor meets the definition of a public beneff( entsty under FRS 102. Assets and liabilities are inib.ally reeognised al historical cost or Iransa¢lion value unless olherwse slated in the relevant accounbng policy. 2.2 Golng ¢on¢em Al the lime of approving the financial statements. the Council has a reasonable expectation that thè charity has adequate resources lo continue in operatsonal existence for the foreseeable future. Thug the Council continue lo adopt the going concem basis of accounting in preparing the financial slalemenls. 2.3 Income All income is re¢ognised once the Charity has enlillemenl to the income. il is probable that the income wll be received and the amount of Income receivable can be measured reliably. The re¢ognilion of income from lega¢ie$ is dependent on e$tsbli$hing entitlement, the probability of receipt and the ability lo estsmate Mth sufficient accuracy Ihe amount receivable. Evidence of enlillemenl to a legacy exists vthen the Charity has sufficient evidence that a gift has been left lo them Ilhrough knovledge of the existence of a valid wll and the death of the benefaclorl and the executor is satisfied that the property in question Yill not be required lo satisfy claims In the estate. Re¢eipl of a legacy musl be recognised when rt is probable that il wll be received and the fair value ol the amount receivable, vthich wll generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Grants are included in the Statement of financial ath"wb"es on a CeIVable basis. The balance of income received for specrfic purwses but not expended during the period is shovm in the relevant funds on the Balance sheet. Where income 1$ received in advance of entrtlement of receipt, ils recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tsx recoverable in relab.on to investrnenl income is recognised al the b.me the investment inwme is receivable. Page 9
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {continued} 2.4 Expgnditure Expenditure is recognised once there 15 a legal OT constructive obligation to transfer economic benefit lo a third party. il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation Can be MeaSud reliably. Expenditure is ¢la$sified by a¢b'vity. The costs ol each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aciivity. Direct costs aitributable to a single activity are allocated directly lo that activity. Shared costs which contnbute lo more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis con51s1enl wlh the use of resources. Central stsff costs are allocated on the basis of tsme spent, and depreciation charges allocated on the poOn of the asset's use. Expenditure on charitable actiwtses is incurred on direcily undertaking the activrties vthich further the Charity's objects'ves, as 11 as any associated support costs. Granlg payable are charge(J In the year en the offer 1$ made except in those cases where the offer is conditional. such grants being wognised as expendrture en the conditions attaching are fulfilled. Grants offered subject to conditions vthich have not been met at the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.5 Membor4 annual subscrlptlons Members, annual subscriptions are accounted for on Teceipl. Life members, 5ubscriplions are credited lo the Statement of Financial Actsvities ISOFAI over the average active life of the members, which is Calculated lo equate lo the rale of 6.25% per annum. That porbon not included in the SOFA is Irealed as deferred income in the balance sheet. 2.6 Interest rgco5vable Inlère5t on lunds held on deposit is included Nthen reeeivable and the amount can be measured reliably by the Charity., thi5 is nomalty upon notification of the interest paid or payable by the institution wth whom the funds are deposrted. 2.7 Inlanglble a$$gts and amortlsatlon Intangible assets are inTtialty recognised al ¢05t. After recognition, under the cost model, intangible assets are measured al Cost less any accumulated amortisation and any 8c¢umulaled impairment losses. Amortisation is provided on intangible assets at rates calculated to vrrite off the ¢o$t of ea¢h asset on straight-line basis over its expected useful life. Amortisation is prowded on the followng basis- Computer Softrre % 20% on reducing balance 2.8 Tangible fixed assots and depreciation Tangible fixed assets are inrtialty re¢ognised at cost. After re¢ognilion. under the cost model, tangible fixed assets are measured al Cost less a¢¢umul*e(I depwiation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condits'on should be induded in the measuiement of cost Page 10
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {continued} 2.8 Tangible fixed ass8ts and deprec•ation {continuedl Depreciation is charged so as to allocate the cost of tangib fixed assets les5 their residual value over their eslimaled useful lives. Depreciation is provided on the followng bases.. Furn(ture ar library Painting 10 to 25% on reducing balance 1% per annum straight line 2.9 Investments Fixed asset investments are a fonn of financial instrument and are initially recognised al their transaction cost and sub5equenlly measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in 1¢h Case rt is measured al c051 le55 impairment. Investment gain5 and losses, vh)elher realised of uniealised. are combined and presented as 'GainsllLossesl on investments, in the Stslement of financial actiw1. 2.10 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable ovetheads. 2.11 O•btors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.12 Cash at bank and In hand Cash al bank and in hand indudes eash and short-lem highly liquid investments wrth a short maturity ol three months or less from the dale of a¢quisits"on or opening of the deposit or sirnilar account. 2.13 Llabllbtles and provlslons Liabilities are recognised Yknen there is an obligation at the Balance sheet dale as a result of a past event, it 15 probable that a transfer of economic benefil will be required In settlement, and the amount of the $etUement can be eytsmated reliably. Liabilities are recognised * the amount that the Charty anticipates it wll pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best e5ts.mate of the amounts required to settle the obligation. Where the effect of the time value of money is malenal. the provision Is based on the present value of those amounts. discounted at the pre-tax discount rale that fleCt$ the risks specrfic lo the liability. The unwnding of the discount is rewnised in the Slatemenl of financial activities as a finance ¢o$l. 2.14 Financial instruments The Charity only has finan¢4al assets and financial liabilities of a kind th31 qualify as basic financial instruments. Basic financial instruments are In"al recognised al transaction value and subsequently measured at their settlement value vthh the exception of bank loans which are subsequently measured at aM0.sed cost using the effective interesl method. Page11
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {continued} 2.15 Pensions The Charity operates a defined conth"bution pension scheme and the pension charge represen15 the amounts payable by the Charity to the fvnd in iesped of the year. 2.16 Fund accounting General funds are unreslricted fijnds Nthich are available for use at the discretion of the Council in furtherance ol the general objeth.ves of the Charity and vthi¢h have not been desi9naled for other purposes. Restricted funds are funds vthich are to be used in accordance wth specific restrictions imposed by donors or vthich have been raised by the Chanty for parts'cular purposes. The costs of raising and administering such funds are charged against the specific frJnd. The aim and use of each reslricled fund Is sel out in the notes lo the financial 5ts1ements. Investrnenl income, gains and losses are allocated lo the appropriate fund. Income from donatlons and l•gacl88 Unmtrlctod funds 2025 Total fund$ 2025 Total funds 2024 Donations Annual membership $ub$cripti¢)n$ Life membership subscriptions Gift Aid 10,538 23,880 11,127 14,022 10.538 23,880 11,127 14.022 18,678 23,210 11,768 6, 794 59,567 59,S67 60,450 Total 2024 60.450 60,450 Income from ¢h•rftsble a¢tlvltle$ Unrestricted funds 2025 Total funds 2025 Total funds 2024 Income from charitable activrties 21,543 21.543 23, 724 Total 2024 23, T24 23, 724 Page 12
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income R•strl¢ted Unrestrl¢ted funds funds 2025 2025 Total funds 202S Total funds 2024 Interest Income Dividend Income 16.742 16.742 18,070 15.669 17,716 18,070 16.742 18,070 34.812 33,385 Total 2024 15.669 17.T16 33.385 Analys18 of grants Grants to Institutlons 2025 Total funds 2025 Total funds 2024 Grants, Supporting Good Causes 4,600 4,600 19,500 rol812024 19.500 19.500 Grants payab 2025 2024 Grants to institutions.. Family Ath'on St Paul's Cathedral- Chorister support Cashel Forest Trust Duknch Picture Gallery- Trees Write back of prior year grants not used 10,000 7,500 2,000 11,000 5.000 {11,400 4.600 19,500 Page 13
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure on charitable activities Summary by fund type Unr8strict8d funds 202S Total 2025 Total 2024 Charitable actiwties 173,545 4,600 173,$4S 4.600 124,818 19,500 Grants payable 178,145 178.145 144,318 Total 2024 144,318 144,318 Anolysi8 of gxpgnditurg by aclivlllgs Actlvltl und•rtak*n dimctty 2025 Grant fundlng of activitlès 202S Support Costs 2025 Total fund$ 2025 Total funds 2Q24 Charitable activities Grants payable 116.974 ,571 173.54S 4,600 124.818 19,500 4,600 116.974 4,600 56,571 178.14S 144,318 Total 2024 75.337 19.5C 49.487 144.378 Page 14
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities (continued) Analysis of direct costs Charitabl• activities 202S Total funds 2025 Total runds 2024 Staff costs 65,012 36,070 2,712 2,400 47 65,012 36.070 2.712 2.400 47 37,397 30,404 5,815 1,064 657 Function cos15 Printing and stationery Knights, Chapel Insignia costs Recruilmenl costs 10,733 10.733 116,974 116,974 75,331 Tol812024 75,331 75,331 Analy818 of Support ¢osts Charftabl• actlvities 202S Total funds 2025 Total funds 2024 Rent, rates and insurance Printing and 5talionery Telephone and websrte Bank charges Postage Independent examiners fees- re prior year Independent examiners fees- re current year Accountancy lees Amortisalion Travel and accomodation Sundry expenses Sl Paul's Cathedral- Ch0ri5teT SUPPOrt 15,099 6,731 2,S14 336 15,099 6.731 2.514 336 19,619 4,466 1, 751 346 3,141 6,612 8.300 11,942 1,045 1.216 934 3.141 6.612 6.300 11.942 1.045 1.216 934 4,173 5,820 4, 724 1,045 1,216 5, 144 1, 183 701 701 56,571 56,S71 49,487 Total 2024 49.487 49.487 Page 15
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Staff costs 2025 2024 Wages and salaries Social security cos15 Contribution to pension scheme 37,317 1.479 26.216 33,200 3,023 1,174 65.012 37,397 The average number of persons employed by the Charity during the year was as follows.. 2025 No. 2024 No. Clerk No employee received remuneraln am¢)unling to more than £60,000 in erther year. 11. Councll's remuneratlon and expens08 During the year. no Council member ceiVed any remunerats'on or other benefits (2024 - £NILJ. During the year ended 31 March 2025, no Council expenses have been incurred (2024- £NIL). Page 16
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Intangible assets Computer softwar• Cost Al 1 April 2024 5.600 At 31 March 2025 5,600 Amortisation At 1 April 2024 Charge for the year 3.508 1.045 Al 31 March 2025 4,553 Not book valu• At 31 March 2025 1.047 At 31 Marclj 2024 2,092 Page 17
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Tangible fixed assets Flxtur•$ and Oth•r flx•d fittlngs assats Total Cost OT valuatlon At 1 April 2024 Additions 74,68S 33,968 2,984 2,473 77,669 36,441 Al 31 March 2025 108.653 5,457 114.110 D•pMclatlon Al 1 April 2024 Charge for the year 27.105 1,17S 2,703 40 29.808 1,21S Al 31 March 2025 28.280 2,743 31.023 Not book valu• Al 31 March 2025 80.373 2,714 83.087 Al 37 March 2024 47,580 281 47,861 14. Flxed 488gt Invg8tsn8nts Liyt•d Inv•$tm&nts Cost or valuation Al 1 April 2024 Revaluations 655,335 130,S341 Al 31 March 2025 624.801 Net book value At 31 March 2025 624,801 At 37 March 2024 655.335 Page 18
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Stocks 2025 2024 Finished goods and goods for resale 30,142 16, 155 16. Debtors 2025 2024 Due within one yoar Other debtors 12.378 9.000 12.378 9,000 17. Credltorn: Amounts falllng duo wlthln onfr yoar 202$ 2024 Trade creditors Other taxation and social securty Other creditgrs Accruals and deferred income Grants ac¢rued- inslilutional 3.223 10.116 957 10.760 5.000 5,670 8,358 28,568 30.056 42.596 18. Credltor8: Amounts falling duo after morn than one year 202S 2024 Deferred income 184,331 169.290 Page 19
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Deferred income 2025 2024 Dgfèrr8d incomo 1$ In¢ludgd within: Current liabilities Non currenl-liabilrties 15.587 173,203 11.T68 f 69,290 188.790 181,058 2025 2024 Mov•mont$ In th• yoar: Deferred income at 1 April Resources deferred during the year Amounts released from previous periods 181.058 18,860 {11,128 177,226 15,600 (11, 768) 188,790 181,058 20. Flnanclal Snstrum•nts 2025 2024 Flnan¢l414$89ts Financial assets mèasured al lair value through income and expenditure 436.740 548.008 Financial assets measure(l al fair value through income and expenditure comprise cash al bank and in hand. Page 20
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Statement of funds Statsment of funds - current year Balanc8 at 31 March 202S Balancè at 1 April 2024 Gainsl {Lossesl Income Expenditure Unrestrl¢t¢d fvnds General Funds- all funds 723,S03 99,180 {178,1451 {30,S341 614,004 R•8trfctsd fund• Chapd fund 343,062 16,742 359.804 Total ol lund 1,066,$65 115,922 {178.1451 {30.5341 973.808 Statsmènt of funds - prlor r A prior year adjustment has been made to reallocate resefves. followng a review of accounts'ng treatments of funds in prior years. Balance as previous reported as al l April 2023 Reststemenl General Funds 637,692 173,8431 Reslricled Funds Totsl 1.038,928 As restated Balance 81 As restated l Apnl 2023 Income Expendrtu As restated Gains/ (Losses) Balance al 31 March 2024 Unrnstrict•d funds General Funds- all funds 711.535 101.890 (144.378) 54.396 723,503 Restricted funds Chapel fund 327,393 15,669 343,062 Totsl of funds 1,038.928 177,559 (144,378? 54,396 1,066,565 Page21
IMPERIAL SOCIETY OF KNIGHTS BACHELOR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Analysis of net assets between funds Analysis of net assets betvRen fund5- current year R8strict8d Unmstrictad funds funds 2025 2025 Total funds 202S Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due vAthin one year Creditors due in more than one year 83,087 1,047 624,801 119,456 130,0561 1184,331) 83.087 1,047 624.801 479.260 130.OS61 1184,3311 359,604 Totsl 359.804 614.004 973,808 Analysis of not a$$gts b8lwwn funds- prlor year l•¥ re$tstsd) Restricted Unrestricled funds funds 2024 2024 Total funds 2024 Tangible fixed assets Intangible fixed a5sel$ Fixed asset investments Current as$et$ Creditors due wthin one year Creditors due in more than one year 47,861 2,092 655,335 230. 101 (42,596) (169.290? 47,867 2,092 655,335 573. 163 (42,596) (169,2901 343,062 Totsl 343.062 723,503 1,066,565 23. R8latsd party transactlon$ There wefe no related party 1ran3acb.ons during the year {2024- none). Page 22