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 page 1 ## **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| page 2 **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 page 3 **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 page 4 ## **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 page 5 ## **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 page 6 ## **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 page 7 **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. page 8 **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_| page 9 ## **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| |---|---|---|---|---|---| page 10 ## **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_| page 11 ## **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_| pagè 12