Charity number: 296979
The Nelson Society UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31/12/2024
Prepared By: Andrews & O'Shea Limited Optima House Spindle Way Crawley West Sussex RH101TT
The Nelson Society
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/12/2024
TRUSTEES
Mr C Brett, Chairman Mr G L Capel, Vice Chairman and Treasurer Mrs Morris, Secretary Mr P Ganjou, Trustee
REGISTERED OFFICE
Nyes Place Rusper Road, Newdigate Surrey RH5 5BX
CHARITY NUMBER
296979
BANKERS
HSBC Bank plc
ACCOUNTANTS
Andrews & O'Shea Limited Optima House Spindle Way Crawley West Sussex RH101TT
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The Nelson Society
ACCOUNTS FOR THE YEAR ENDED 31/12/2024
| CONTENTS | |
|---|---|
| Page | |
| Report of the Trustees | 3 |
| Independent Examiner's Statement | 4 |
| Accountant's Report | - |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 to 12 |
| Detailed Statement of Financial Activities | 11 |
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The Nelson Society
FOR THE YEAR ENDED 31/12/2024 TRUSTEES' REPORT
The trustees present their report and accounts for the year ended 31/12/2024
STRUCTURE GOVERNANCE AND MANAGEMENT
The Trustees of The Neslon Society have met on 2nd February 2024 to approve the completed accounts for 2023. Further meetings took place at the general Nelson Society committee meetiings on 24th February, 27th April, 10th August and 23rd November. At the AGM of the Nelson Society on 19th October, Chief Trustee Graham Capel presented a short annual review of the Trustees meetings over the past year.
The problem of lack of dual signatory security has been overcome by attaching a separate counter signatory sheet to each BACS paid invoice to be signed by another authorised signatory.
The present Trustees of The Nelson Society agreed to continue in office for 2025..
The accounts for the financial year 1st January 2024 to 31st December 2024 have been checked and compiled by our approved accountants Andrews and O'Shea Limited.
This report was approved by the Board of Trustees on 03/06/2025
G Capel Treasurer to the Nelson Society
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The Nelson Society
INDEPENDENT EXAMINER'S STATEMENT
FOR THE YEAR ENDED 31/12/2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NELSON SOCIETY
I report on the accounts of the company for the year ended 31/12/2024 .
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income did not exceed £250,000 and I am qualified to undertake the examination.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINERS STATEMENT
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINERS STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
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The Nelson Society
INDEPENDENT EXAMINER'S STATEMENT
FOR THE YEAR ENDED 31/12/2024
...................................................
Date:
Andrews & O'Shea Limited Optima House Spindle Way Crawley West Sussex RH101TT 01293 312042
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The Nelson Society
Statement of Financial Activities for the year ended 31/12/2024
| Income Income from generated funds Income from charitable activities Other Income Total Income and endowments Expenses Costs of generating funds Expenditure on Charitable activities Total Expenses Net gains on investments Net Income Gains/(losses) on revaluation of fixed assests Net movement in funds: Net income for the year Total funds brought forward Net funds carried forward |
Unrestricted funds £ 55,215 848 56,063 55,427 55,427 636 636 15,473 16,109 |
Restricted funds £ - 1,491 1,491 - - 1,491 1,491 29,097 30,588 |
2024 Total £ 55,215 2,339 57,554 55,427 55,427 2,127 2,127 44,570 46,697 |
2023 Total £ 51,366 1,635 |
|---|---|---|---|---|
| 53,001 | ||||
| 56,988 | ||||
| 56,988 | ||||
| (3,987) | ||||
| (3,987) 48,557 |
||||
| 44,570 |
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
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The Nelson Society
BALANCE SHEET AT 31/12/2024
| Notes CURRENT ASSETS Stock Debtors (amounts falling due within one year) 3 Cash at bank and in hand CREDITORS: Amounts falling due within one year 4 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Unrestricted funds General fund Designated funds Restricted funds 5 |
2,500 2,121 46,284 50,905 4,208 |
2024 £ 46,697 46,697 10,105 6,004 30,588 46,697 |
2,000 350 43,945 46,295 1,725 |
2023 £ 44,570 |
|---|---|---|---|---|
| 44,570 | ||||
| 15,381 92 29,097 |
||||
| 44,570 |
For the year ending 31/12/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of trustees on 03/06/2025 and signed on their behalf by
............................. Mr G Capel Trustee
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The Nelson Society
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31/12/2024
1. ACCOUNTING POLICIES
1i. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
1b. Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1c. Resources Expended
Expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources, with cntral staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets's use. Other support costs are allocated based on the spread of staff costs.
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.
1d. Allocation And Apportionment Of Costs
All costs relate to the single activity of the charitable company and are recognised accordingly.
1e. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.
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The Nelson Society
1f. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any writedown of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1g. Turnover
Income is generated fom talks, donations, sale of merchandise, advertising, memberships and interest earned. This is split between restricted and unrestricted funds.
Unrestricted income funds are general funds that are available for use at the trustees discretionin futherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
1h.
1i. Basis Of Accounting
The financial statements have been prepared in accordance with the second edition of the Charities Statement of recommended Practice issued in October 2019, FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011.
The Nelson Society meets the definition of a public benefit entity under Frs 102. The accounts (financial statements) have been prepared undeer the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts.
The trustees consider that there are no material uncertanties about the charity's ability to continue as a going concern.
| 2. STOCK Stock comprises: Stock |
2024 £ 2,500 2,500 |
2023 £ 2,000 |
|---|---|---|
| 2,000 |
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The Nelson Society
| 3. DEBTORS Amounts falling due within one year: Other debtors 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2024 £ 2,121 2,121 2024 £ 4,208 4,208 |
2023 £ 350 |
|---|---|---|
| 350 | ||
| 2023 £ 1,725 |
||
| 1,725 |
5. RESTRICTED FUNDS
| COIF Deposit Account COIF Deposit Account Interest on deposit account |
Brought forward £ 29,097 29,097 |
Incoming resources £ 1,491 1,491 |
Outgoing resources £ - - |
Transfers £ - - |
Carried forward £ 30,588 30,588 |
|---|---|---|---|---|---|
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The Nelson Society
Incoming Resources for the year ended 31/12/2024
| Incoming resources Incoming resources from generated funds Charitable Activity Talks, donations and sales Gift Aid tax reclaimed Memebership fees Sale of merchandise Income from visits, educational days, AGM etc Other Incoming Resources Bank Interest Advertising |
1,052 3,048 17,976 6,388 26,751 |
2024 £ 55,215 55,215 1,819 520 2,339 57,554 |
786 2,986 18,370 2,459 26,765 |
2023 £ 51,366 51,366 1,635 - |
|---|---|---|---|---|
| 1,635 | ||||
| 53,001 |
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The Nelson Society
Expenses for the year ended 31/12/2024
| Expenses Costs of generating funds Charitable Activities Publications including postage Cost of merchandise less stock held at the year end Insurance Committee expenses Membership secretary TND editor Donations Computer costs Accountancy fees Expenditure on visits, educational days, AGM etc Bank charges |
2024 £ 12,826 3,948 304 3,609 3,000 4,000 628 746 1,115 24,970 281 55,427 55,427 |
2023 £ 16,316 2,598 314 3,491 3,000 4,000 - 87 900 25,983 299 |
|---|---|---|
| 56,988 | ||
| 56,988 |
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