Association for the Study of Modern Italy
Contents
Page
Reference and administrative details of the Charity. its Trustees and advisers
Trustees. report
statsment of financial activities
Balance sheet
Notes to the financial statements
7-15

Charity number: 296240
Association for the Study of Modern Italy
Unaudlted
Trustees, report and financial statements
For the year ended 30 September 2024

Association for the Study of Modern ltsly
Referènce and administrative details of the Charity, its Trustees and advisers
For the year ended 30 September 2024
Trustees
Phil Cooke
Palrizia Sambuco
Charity registered
number
296240
Principal offlce
Department of History, Classics and Archaeology
Birkbeck, University of London
26 Russell Square
London
WC1B 5BQ
Accountants
Kreslon Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL
Page 1

Association for the Study of Modern ltsly
Trustees, report
For the year ended 30 September 2024
The Trustees present their annual report together with the financial statements of the Charity for the 1 October
2023 10 30 September 2024.
Objectives and activities
a. Policies and objectives
The objects of the charity are lo advanco education in the United Kingdom about Modern Italy.
b. Main actlvlties undertaken to further the Charity's purposes for the public beneflt
The main activities of the charity are organising an annual conference that promotes the study and research of
modern Italian history, culture and society and publishing a learned journal enlilled Modern Italy four times a
year. The charity also sponsors other events including conferences. workshops, exhibitions, lectures in the UK
and abroad. ASMI also offers grants to poslgraduale and posldocloral students lo enable them lo carry out
research in libraries and specialist inslitules, in the UK, Italy and further afield.
Achlevements and perfomiance
a. Review of activities
The charitys main activities are the organizalion of an annual conference that promotes the study and research
of modern Italian history, culture and society and the publication of the learned journal Modern Italy, which
comes out four times a year. ASMI also supports the work of postgraduales through annual summer schools and
offers travel grants to poslgraduale and posldocloral students lo enable them to carry out research in libraries
and specialist instilules, in the UK, Italy and further afield. A significant part of the charitys work is lo financially
support conferences, workshops, exhibitions. and lectures organised by ASMI members in the UK and abroad.
During the year ending in September 2024, ASMI organised its annual Conference on the theme of "Mafias and
the Italian Slate.. 30 Years On. History. Narratives, and Invesligalions., 11 was held on 8-9 December 2023, al the
Institute of Languages, Cultures and Societies {ILCSI. Senate House. University of London.
The ASMI Poslgraduale Summer School was held on 19th and 20th September 2024 8t the Domus Mazziniana
(Pisa. Ilalyl.
On 17 November 2023 al the Italian Cultural Inslilute, London. ASMI organised a double event on Gaelano
Salvemini and Don Lorenzo Milani with guest speaker Vanessa Roghi.
ASMI has continued to support the organizalion of the Modern Italian Histoiy seminars al the Institute of
Historical Research, University of London.
It provided ftnancial support for the third seminar of the GLOBAL GRAMSCI seminar series started in the spring
of 2023. This third event tilled 'Subversion and Resislance, was held at the ICI in London on 25 October 2023,
with Giovanni Fresu and Jean-yves Fréligné in conversation with Marzia Maccaferri.
ASMI financially supported the conference 'The Art of History.. visualizinglimaglinling the hislorrcal past in the
'presenl' organised by David Laven (Nollinghaml al Nollingham University in June 2024. It also provided free
sponsorship of the online conference tilled 'The Many Faces and Spaces of Precarily in the Moving Image,
organised by Maria Elena Alampi IExel8rl and Dr Francesco Slicchi (Oxford Brookes Universilyl.14-16
December 2023.
The Christopher Duggan travel bursaries were awaided lo Jake Newbury IUCLI
gnd Beatrice Falcucci (Barcelonal.
The Seton Watson Prize for the best article in Modem Italy was awarded lo Marcus Wurzer for his article 'The
social lives of mass-produced images of the 193541 Ilalo-Elhiopian Warf.
Page 2

Association for the Study of Modern Italy
Trustees. report Icontinuedl
For the year ended 30 September 2024
Financlal review
a. Going concern
After making appropri8te enquiries. the Iruslees have a reasonable expectation that the Charity has adequate
resources to continue in operational existen￿ for the foreseeable future. For this reason they continue to adopt
the going concem basis in preparing the financial stalemenls. Further details regarding the adoption of the going
concem basis can be found in Ihe Accounling Policies.
b. Reserves pollcy
The Iruslees regularly review the reserves of the charity. A general unrestricted reserve is maintained with an
objective lo cover the runnin9 costs of the charity in ordei to meet ils objective lo promote the study of the Culture
of Modern Italy. Unreslricled reserves amounted lo £77,176 al the year end12023.. £68,719), the unreslricled
reserves also represent the free reserves of the charity.
c. Principal funding
The principal funding sources are membership fees received, royalties received, conference fees received.
contributions received towards editorial expenses and contributions re￿iVed towards translation costs.
Structure. governance and management
Constitution
Association for the Study of Modern Italy is a registered charity, number 296240, and is constiluled under a Twst
deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
Financial risk management
The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related to the
operations and finances of the Charity. and are satisfied that systems and procedures are in place lo mlligate
exposure to the major risks.
Page 3

Association for the Study of Modern Italy
Trustees. report (continued)
Forthe year ended 30 September 2024
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, report and the financial slalemenls in accordanee with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Aceounling
Practice).
The law applicable lo charities in England & Wales requires the Trustees lo prepare financial slalemenls for
each financial which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources
and application of resources, including ils income and expenditure, for that peiiod. In preparing these financial
slatemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consistently..
observe the methods and prinaples of the Charities SORP IFRS 1021.,
make judgments and accounting eslimales that are reasonable and prudent.,
slate whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material
departures disclosed and explained in (he financial slalemenls-
prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are suificienl to show and explain
the Charills transactions and disclose with reasonable accuracy al any lime the financial position of the Charity
and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Phil Cooke
Dale..
.{) '2. 5
Page 4

Association for the Study of Modern Italy
statement of financial activities
For the year ended 30 September 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Other income
151
34,475
90
151
34.475
90
188
27,796
60
Total income
34,716
34,716
28,044
Expenditure on:
Chaiilable activities
26.259
26,259
25.156
Total expenditure
26,259
26,259
25,156
Net movement in funds
8.457
8,457
2.888
Reconciliation of funds:
Total funds brought forward
Net movement in funds
68,719
8,457
68,719
8,457
65,831
2,888
Totsl funds carried fonward
77,176
77.176
68,719
The Slalement of financial activi118s includes all gains and losses recognised in the year.
The notes on pages 7 10 15 fom part of these financial statements.
Page 5

Association for the Study of Modern Italy
Balance sheet
As at 30 September 2024
2024
2023
Note
Flxed assets
Current assets
Debtors
Cash at bank and in hand
25,881
53,215
27,189
43,270
79.096
70,459
Creditors.. amounts falling due within one
yeai
10
11,9201
11,7401
Net current assets
77,176
68,719
Total assets less current liabilities
77,176
68,719
Net assets excluding pension asset
Total net assets
77,176
68,719
77,176
68.719
Charlty funds
Reslricled funds
Unreslricled funds
11
77,176
68,719
Total funds
77.176
68,719
The financial statements We￿ approved and aulhorised for issue by th8 Trustees on and signed on their behalf
by..
Phil Cooke
Date..
The notes on pages 7 to 15 form part of these financial stalemenls.
Page 6

Associatlon for the Study of Modern Italy
Notes to the financial statements
Forthe year ended 30 September 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities-. Slalemenl of Recommended Practice applicable lo Charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 1021 leffective 1 January 20191, the Financial Reporting Standard
appllcable in the UK and Republic of IrelaTbd {FRS 1021 and the Charities Act 2011.
The financial statements have been prepared lo give a 'lru8 and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide a 'lrue
and fair, view. This departure has involved following the Charities SORP {FRS 1021 published in
October 2019 rather than the Accounting and Reporting by Charities.. Slalement of Recommended
Practice effective from 1 April 2005 which has Sin￿ been withdrawn.
AssocialiDn for the Study of Modern Italy meets the definitlon of a public benefit entity under FRS
102. Assets and liabilities are initially recognised al historical cost or transaction value unless
otheNise staled in the relevant accounting policy.
1.2 Going concern
The financial statements have been prepared on a going concern basis.
1.3 Income
All income is recognised once the Charity has entitlement to the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which il is receivable and lo the extent the goods have
been provided or on completion of the service.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit
to a third party. it is probable that a transfer of economi¢ benefits will be required in selllemenl and
the amount of the obligation can be measured Teliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each 8Ctivily. Dire¢l costs attributable to a single activity are allocated directly
lo that activity. Shared costs which contribute lo more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consislenl with
the use of resoyrces. Central staff costs are allocated on the basis of lime spent. and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitabl8 aclwilies is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when th8 conditions altsching are
fulfilled. Grants offered subject to conditions which have not been met al the year end are noted as a
commitment. bul not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 7

Association for the Study of Modern Italy
Notes to the financial statements
Forthe year ended 30 September 2024
Accounting policies {continuedl
1.5 Tangible fixed assets and deprgciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised al cost. After recognition, under the cost modol, tangible
fixed assets are measured at cost less accumulated depreciation.
Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the slraighl-line method.
Depreciation is provided on the following basis..
Computer equipment
3 years slraighl line
1.6 Debtors
Trade and other debtors are recognised al the selllemenl amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short malurily
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balan￿ sheet dale as a result of a past
event, it is probable that a transfer of economic benefit wll be required in settlement, and the amount
of the settlemènt can be estimated reliably.
Liabilities are recognised al the amount that the Charity anlicipales il will pay lo settle the debt or the
amount it has received as advanced payments for the goods or services it musl provide.
1.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially lecognised al transaction value and subsequently
measured al their settlement value.
1.10 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Page 8

Associatlon for the Study of Modern Italy
Notss to the financial statements
For the year ended 30 September 2024
Income from donatlons and legacles
Unrestricted
funds
2024
Total
funds
2024
Donations
151
151
Unrestricted
funds
2023
Total
funds
2023
Donations
188
188
Income from charltable a¢tivitles
Unrestricted
funds
2024
Total
funds
2024
conferen￿ fees
Royalties received
2,503
31,972
2,503
31.972
34,475
34,475
Unrestricted
funds
2023
Total
funds
2023
Income from charitable activities- Charitable activities
Royalties re￿iVed
2,827
24,969
2,827
24,969
27,796
27,796
Page 9

Association for the Study of Modern Italy
Notes to the financial ststements
For the year ended 30 September 2024
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Interest recieved
90
90
Unreslricled
funds
2023
Total
funds
2023
Interest recieved
60
60
Analysis of grants
Grants to
Individuals
2024
Total
funds
2024
Grants
750
750
Grants lo
Individuals
2023
Total
funds
2023
Grants
300
300
Page 10

Association for the Study of Modern ltsly
Notes to the financial statements
Forthe year ended 30 September 2024
Analysis of expenditure by actlvlties
Activities
undertaken
directly
2024
Grant
funding of
activities
Support
costs
2024
Total
fund5
2024
2024
Charitable activities
17,773
750
7,736
26,259
Activities
undertaken
directly
2023
Grant
funding ol
activities
2023
Support
costs
2023
Total
funds
2023
Charitable activities
16.617
300
8.239
25,156
Analysis of direct costs
Charltable
activities
Total
funds
2024
2024
Editorial expenses
Translation expenses
Conference expenses
Sundry expenses
Summer School
7,663
1.749
7,114
893
354
7.663
1,749
7,114
893
354
17,773
17,773
Charitable
activities
Total
funds
2023
2023
Depreciation
Editorial expenses
Translation services
Confererbce expenses
Sundry expenses
Summer School
256
3,238
2,071
10,244
201
607
256
3,238
2,071
10,244
201
607
16,617
16,617
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Association for the Study of Modern ltsly
Notes to the financial statements
For the year ended 30 September 2024
Analysis of expenditure by activities Icontinued)
Analysis of support Costs
Charitable
activities
2024
Total
funds
2024
Bank charges
Sundry expenses
Travel expenses
Subscriptions
Entertainment
Govemance costs
51
1,638
2,840
434
51
1,638
2.840
434
793
1.980
793
1,980
7,736
7,736
Charitable
activities
2023
Total
funds
2023
Bank charges
Travel expenses
Subscriptions
Sumrner School
Exp type 12
Governance costs
152
152
4,424
381
4,424
381
659
883
1.740
659
883
1,740
8,239
8,239
Trustees. remuneratlon and expenses
During the year, no Trustees received any remuneration or other benefils12023 - £NILI.
During the year ended 30 September 2024, expenses lolalling £1,233 were reimbursed to 2 Trustees
{2023- £1,944 10 2 Trustees). The expenses reimbursed were towards travel costs.
Page 12

Assoclation for the Study of Modern Italy
Notes to the fit)ancial statements
Forthe year ended 30 September 2024
Tangible fixed assets
Computer
equipment
Cost or valuation
At 1 October 2023
5,152
AI 30 September 2024
5,1 S2
Depreciatlon
Al 1 October 2023
5.152
At 30 September 2024
5.152
Net book value
AI 30 September 2024
At 30 September 2023
Debtors
2024
2023
Due within one year
Other debtors
25,881
27.189
25,881
27,189
10.
Creditors: Amounts falling due within one year
2024
2023
Accruals and deferred income
1.920
1,740
Page 13

Association for the Study of Modern Italy
Notes to the flnancial statements
For the year ended 30 September 2024
11. statement of funds
Statement of funds - current year
Balance at
30
September
2024
Balance at I
October
2023
Income Expendtture
Unrestricted funds
General Funds - all fun¢Js
68,719
34,716
126,259)
77,176
Statement of funds - prior year
Balance at
30
September
2023
Balance al
1 October
2022
Income Expenditure
Unrestricted funds
General Funds- all funds
65,831
28,044
125,1561
68,719
Page 14

Association for the Study of Modem Italy
Notes to the financial statements
For the year ended 30 September 2024
12.
Analysis of net assets be￿@an funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Current assets
Creditors due within one year
79,096
{1,9201
79,096
11,920)
Total
77,176
77,176
Analysls of net assets between funds . prior period
Unreslricled
funds
2023
Tot81
funds
2023
Current assets
Creditors due within one year
70,459
{1,7401
70,459
11,7401
Total
68.719
68.719
13. Relatsd party transactlons
There were no related party transactions in the year that require disclosure under SORP 2019 IFRS 1021.
Page 15