## REGISTERED COMPANY NUMBER: 01939193 (England and Wales) REGISTERED CHARITY NUMBER: 327098
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2023
for The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
Freedman Frankl & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ)
## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
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Contents of the Financial Statements
for the Year Ended 31 July 2023
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Page
Report of the Trustees I to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet § to 6
Notes to the Financial Statements 7 to ll
Detailed Statement of Financial Activities 12
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## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
## Report of the Trustees for the Year Ended 31 July 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## OBJECTIVES AND ACTIVITLES
## Objectives and aims
The objects of the charity is to promote, provide for and assist in the advancement of educational research in connection with the making and usage of pulp paper and related materials, and for this purpose to provide funds to universities, colleges, schools and individuals and generally to encourage and improve the education of all persons in related sciences. The principal activity of the Society is the arrangement of a four-yearly Symposium.
## Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit.
## Grantmaking
The intention is to utilise the income from the funds, where possible to provide for and assist in the advancement of educational research in connection with the making and usage of pulp paper and related materials.
## ACHIEVEMENT AND PERFORMANCE
## Investment performance
In accordance with the Memorandum and Articles of Association, the Trustees have the power to make investments in stocks, shares, investments and properties as they see fit. The Trustees have absolute discretion in determining the selection of investments for the Trust.
The annexed accounts show the state of the finances of the Charity at 31 July 2023, which the Trustees consider to be satisfactory.
## FINANCIAL REVIEW
## Reserves policy
It is the aim of the charity to maintain unrestricted funds at a level sufficient to continue to operate and meet its day to day running costs.
The Trustees are satisfied that the reserves are at an acceptable level.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## Governing document
The charity is constituted by a Memorandum and Articles of Association dated 14th August 1985, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. It is registered with the Charity Commission under charity number 327098. The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed. The Trustees have the power to appoint further trustees by a simple majority voting system.
## REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01939193 (England and Wales)
Registered Charity number 327098
Page |
## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
Report of the Trustees for the Year Ended 31 July 2023
Registered office
SAS Event and Association Management The Old George Brewery Rollestone Street Salisbury SP1 1DX
Trustees Dr S JI’ Anson Professor W W Sampson Dr JS Preston Dr J Panek
Company Secretary JA Clewley
Independent Examiner Adam Caplan FCA Freedman Frank! & Taylor Chartered Accountants Reedham House 31 King Street West Manchester M3 2PJ
## SMALL COMPANY EXEMPTION
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on BMA e ache and signed on its behalf by:
Professor Sampson - Trustee
Page 2
## Independent Examiner's Report to the Trustees of The Pulp and Paper Fundamental Research Society
## (Limited by Guarantee)
Independent examiner's report to the trustees of The Pulp and Paper Fundamental Research Society (Limited by Guarantee) (‘the Company’) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023.
## Guarantee) (‘the Company’)
## Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## Independent examiner's statement
I have completed my examination. } confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- lL. accounting records were not kept in respect of the Company as required by Section 386 ofthe 2006 Act; or 2. the accounts do not accord with those records; or 3: the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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NC
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## Adam Caplan FCA
Freedman Frank! & Taylor Chartered Accountants
Reedham House
31 King Street West Manchester M3 2PJ
## Date: wSlolpore
Page 3
## The Pulp and Paper Fundamental Research Society {Limited by Guarantee)
## Statement of Financial Activities for the Year Ended 31 July 2023
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||||||
|---|---|---|---|---|
|2023|2022|
|Unrestricted|Total|
|Notes|fund£|funds£|
|INCOME AND ENDOWMENTS FROM|
|Other trading activities|2|135,264|657|
|EXPENDITURE ON|
|Charitable activities|3|106,495|5,070|
|NET INCOME(EXPENDITURE)|28,769|(4,413)|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought forward|27,265|31,678|
|TOTAL FUNDS CARRIED FORWARD|56,034|27,265|
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The notes form part of these financial statements
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## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
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|||||||
|---|---|---|---|---|---|
|Balance|Sheet|
|31|July|2023|
|2023|2022|
|Unrestricted|Total|
|Notes|fund£|funds£|
|CURRENT|ASSETS|
|Debtors|6|-|10,216|
|Cash|at|bank|60,339|30,948|
|60,339|41,164|
|CREDITORS|
|Amounts|falling due within|one year|a|(4,305)|(13,899)|
|NET CURRENT ASSETS|56,034|27,265|
|TOTAL ASSETS|LESS CURRENT|
|LIABILITIES|56,034|27,265|
|NET ASSETS|56,034|27,265|
|FUNDS|8|
|Unrestricted|funds|56,034|27,265|
|TOTAL FUNDS|56,034|27,265|
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 ofthe Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- {b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
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The Pulp and Paper Fundamental
Research Society
(Limited by Guarantee)
Balance Sheet - continued
31 July 2023
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These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on Agi [zer. and were signed on its behalf by:
W W Sdmpson - Trustee
The notes form part of these financial statements
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1. ACCOUNTING POLICIES
## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
## Notes to the Financial Statements for the Year Ended 31 July 2023
## Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## locome
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## Governance costs
Governance costs comprises costs for the running of the charity.
## Taxation
The charity is exempt from corporation tax on its charitable activities.
## 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.
Further explanation ofthe nature and purpose of each fund is included in the notes to the financial statements.
## Zz
## OTHER TRADING ACTIVITIES
|OTHER TRADING ACTIVITIESTRADING ACTIVITIESACTIVITIES|||
|---|---|---|
||2023|2022|
||£|£|
|Sponsorships|11,960|-|
|Saleofproceedings|-|657|
|Symposiumincome|123,304|-|
||135,264|657|
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The Pulp and Paper Fundamental
Research Society
(Limited by Guarantee)
Notes to the Financial Statements - continued
for the Year Ended 31 July 2023
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3. CHARITABLE ACTIVITIES
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Raising donations and legacies
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2023 2022
£ £
Symposium costs 100,495 -
Support costs 6,000 5,070
106,495 5,070
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4.
## TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
## Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.
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§. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Other trading activities 657
EXPENDITURE ON
Charitable activities 5,070
NET INCOME/(EXPENDITURE) (4,413)
RECONCILIATION OF FUNDS
Total funds brought forward 31,678
TOTAL FUNDS CARRIED FORWARD 27,265
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## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
## Notes to the Financial Statements - continued for the Year Ended 31 July 2023
## 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Trade|debtors|-|2,006|
|VAT|-|671|
|Prepayments|and accrued|income|-|7,539|
|-|10,216|
|4|CREDITORS:|AMOUNTS FALLING|DUE WITHIN ONE YEAR|
|2023|2022|
|£|£|
|Trade creditors|3,504|-|
|Accruals and|deferred|income|801|13,899|
|4,305|13,899|
|&.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.8.22|in|funds|31.7.23|
|£|£|£|
|Unrestricted|funds|
|General|fund|27,265|28,769|56,034|
|TOTAL FUNDS|27,265|28,769|56,034|
|Net movement|in|funds,|included|in|the above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|135,264|(106,495)|28,769|
|TOTAL FUNDS|135,264|(106,495)|28,769|
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## The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
## Notes to the Financial Statements - continued for the Year Ended 31 July 2023
## 8. MOVEMENT IN FUNDS - continued
## Comparatives for movement in funds
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.8.21|in|funds|3127.22|
|£|By|£|
|Unrestricted|funds|
|General|fund|31,678|(4,413)|27,265|
|TOTAL FUNDS|31,678|(4,413)|27,265|
|Comparative|net movement|in funds,|included|in the above|are as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|657|(5,070)|(4,413)|
|TOTAL FUNDS|657|(5,070)|(4,413)|
|A current year|12|months and|prior year|12|months|combined|position|is as|follows:|
|Net|
|movement|At|
|At|t.8.21|in|funds|31.7.23|
|£|¥|£|
|Unrestricted|funds|
|General|fund|31,678|24,356|56,034|
|TOTAL FUNDS|31,678|24,356|56,034|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|135,921|(111,565)|24,356|
|TOTAL FUNDS|135,921|(111,565)|24,356|
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continued...
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The Pulp and Paper Fundamental Research Society (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
## 9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023.
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