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2021-03-31-accounts

THE TROLLOPE SOCIETY

ANNUAL REPORT

FOR THE YEAR ENDED MARCH 31[st] 2021

THE TROLLOPE SOCIETY

CONTENTS

Page
Trustees’ report 1 - 3
Independentexaminer’sreport 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 12

THE TROLLOPE SOCIETY TRUSTEES’ REPORT FOR THE YEAR ENDED MARCH 31[st ] 2021

The Trustees present their report and the financial statements for the year ended March 31[st] , 2021.

Trustees

The following Trustees have held office since April 1[st] , 2020:

Dominic Edwardes Jennifer Bryant-Pearson Susan Cooper David Glass Priscilla Hungerford

The Trustees have the power to appoint new Trustees. Members are invited to become Trustees at the Annual General Meeting.

The Trustees are required to discuss matters of policy three or four times a year. The Trustees have considered the risks to the future of the Society and consider that these are under control.

Governing Instrument

The Society is a registered charity, governed by a Trust deed dated September 1[st] , 1987, varied by a deed dated March 20[th] , 1990, which provides that the Trustees shall stand possessed of the Trust Fund and the income thereof upon trust to apply the same for the following educational purpose, namely the study and publication of the works of Anthony Trollope.

Address and charity number

P O Box 505 Tunbridge Wells TN2 9RW

Charity No: 803130

Honorary Secretary

Susan Cooper

Bankers

Lloyds 39 Piccadilly London W1V OAA

THE TROLLOPE SOCIETY TRUSTEES’ REPORT FOR THE YEAR ENDED MARCH 31[st] 2021

Objectives and activities

The objects of the charity are the study and publication of the works of Anthony Trollope. Significant achievements in pursuit of these include the holding of seminars in London, York, Manchester, Oxford, Edinburgh and elsewhere for the purpose of studying and discussing selected novels. Interest remains high with a steady flow of new members.

Public benefit statement

The Trustees confirm that they have complied with the duty under section 17 (5) of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’.

The Trollope Society’s charitable purpose is enshrined in its objects for the advancement of the education of the public in the life and work of Anthony Trollope, and subject thereto and in default thereof for such purpose for the advancement of education as the Trustees in their absolute discretion shall direct.

In fulfilment of its charitable purposes, the Society continues to maintain in print the novels of Anthony Trollope, publishes the journal ‘Trollopiana’, provides an annual lecture and supports local discussion groups.

Investment policy

The Society receives income on an annual basis through membership subscriptions, sales of books, and donations. It has no permanent endowment. Consequently, the Trustees do not consider it prudent to invest for the longer term. Its policy for investment is therefore to retain funds as cash and place them on bank deposit at the best rate obtainable commensurate with security, whilst retaining flexibility to use those funds for the Society’s stated aims.

Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems are in place to mitigate the exposure to major risks.

Financial review

The policy on reserves is to maintain a free balance sheet of at least three months’ operating expenses. The purpose of the designated funds is explained in note 14 to the accounts. The net current assets of the charity at the year-end amounted to £64,394 (2020: £39,981). Surplus funds are held on deposit. The principal funding sources are members’ subscriptions, donations, and the sale of books.

THE TROLLOPE SOCIETY TRUSTEES’ REPORT FOR THE YEAR ENDED MARCH 31st 2021

Review of the year

The Trollope Society responded to the challenge of the coronavirus pandemic by cancelling our physical activities and developing a programme of online events. In October our AGM was held on Zoom. Francesca Simon, author of the bestselling series of Horrid Henry children’s books, gave the Trollope Society’s 33rd Annual Lecture on the subject of ‘Anthony and Me’. We were fortunate to receive a grant from the Coronavirus Community Support Fund, towards our ‘Pick Up A Trollope’ (PUAT) campaign held in the Autumn. Members of the public were asked to choose their favourite novel from a selection of nine made by notable Trollopians. We received 1,200 votes from members of the public and 366 people registered for an online read of the winning novel, Barchester Towers. In February we received a further small grant from the National Lottery Community Fund to support our online activities until the end of March 2021. We held several talks, including ‘Julian Fellowes in conversation with Gyles Brandreth’, which proved to be our most successful online event to date. We went on to read Doctor Thorne on Zoom, which attracted 250 participants. Over the last year our online activities have proved successful. We have seen an increase in donations, membership, and sales of books.

Plans for the future

As we move out of the pandemic we will cautiously restart our physical meetings. We will continue to offer an online programme alongside these. We hope to be able to hold a dinner and reschedule the postponed Trip to Florence as soon as it is prudent to do so. Following the success of the production of the Barsetshire tea-towel and map we plan to introduce a range of merchandise to be sold via our online shop.

Trustees’ responsibilities

The Trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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. This report was approved by the Trustees on

Signed on behalf of the Trustees Dominic Edwardes Chairman and Trustee

THE TROLLOPE SOCIETY INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 5 to 12.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011, and regulations made under section 154 of that act. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for my work, for this report.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s 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.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements 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 financial statements present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Finsbury Robinson Ltd. 237 Westcombe Hill London SE3 7DW

Date:

THE TROLLOPE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Notes
Incoming Resources
Incoming Resources from
generated funds
Voluntary Income
2
Activities for generating funds
3
Investment Income
4
Lottery Grants
Income from resources from
charitable activities
5
Total Incoming Resources
Resources Expended
Charitable activities
6
Governance costs
7
Net incoming (outgoing) resources
for the year
Balances brought forward at
1 April 2020
Balances carried forward at
31 March 2021		 Total
Total
Unrestricted
Designated
Funds
Funds
Funds
Funds
2021
2020
35,832
35,832 17,405
12,335
12,335
3,699
702
702
666
8,270
8,270
4,182
4,182 14,421
61,322
61,322 36,191
47,405
47,405 34,654
595
595
831
48,000
48,000 35,485
13,322
13,322
705
40,221
1,771 41,992 41,287
53,543
1,771 55,314 41,992

The financial statements were approved by the Board of Trustees on

Dominic Edwardes David Glass Trustee Trustee

THE TROLLOPE SOCIETY BALANCE SHEET AS AT MARCH 31st 2021

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
11
Cash at bank
10
Creditors: amounts falling due
within one year
12
Net current assets
Total assets
Creditors: amounts fallling due after more
than one year
Loan of indefinite duration (non interest bearing)
Provision for unexpired subscriptions
Net assets
13
Funds
Unrestricted
14
Designated
15
Net funds		 8,195
105,152		 2021
11,874
64,394		 6,093
87,551		 2020
19,874
39,981
113,346 93,644
-48,952 -53,663
-10,000
-10,954		 -10,000
-7,862
76,268 59,855
-20,954 -17,862
55,314 41,992
53,543
1,771		 40,221
1,771
55,314 41,992

THE TROLLOPE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31[st] 2021

1 Accounting policies

The accounts (financial statements) have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The accounts have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

1.1 Preparation of accounts on a going concern basis

The financial statements have been prepared on a going concern basis, which is dependent upon the continued support of the members.

1.2 Incoming resources

Subscription income is accounted for on a pro-rated basis

1.3 Resources expended

Liabilities are recognised as resources expended where there is a legal or constructive obligation committing the Society to the expenditure. All expenditure is accounted for on an accruals basis.

1.4 Stocks

Stocks of books for resale are valued at the cost of reprinting rare titles in 2016-18.

1.5 Fixed assets

The library of antiquarian books is stated at remaining cost, following sale of a portion of the library in 201718.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the society; this is normally upon notification of the interest paid or payable by the bank.

1.7 Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable society and have not been designated for any other purpose.

THE TROLLOPE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31[st] 2021

1.8 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term liquid investments with a maturity of up to one year from the date of acquisition or opening of the deposit or similar account.

1.9 Debtors

Debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount repaid net of any discount.

1.10 Creditors and provisions

Creditors and provisions are recognised where the society has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discount.

THE TROLLOPE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

2
Voluntary Income
Subscriptions
Donations
3
Activities for generating funds
Sales of books
Other sales
4
Investment Income
Interest Receivable
5
Income resources from charitable activities
Sales to TSNY
Members Events
6
Lottery Grants
Lottery Grant for Pick Up a Trollope campaign
Lottery Grant for Dr Thorne reading
Expenditure for Pick up a Trollope campaign
Expenditure for Dr Thorne reading		 2021
13,532
22,300
35,832
8,930
3,405
12,335
702
4,182
0
4,182
6,500
1,770
8,270
9,556
1,770		 2020
12,207
5,198
17,405
3,367
332
3,699
666
4,048
10,372
14,420

Expenditure for Pick up a Trollope campaign was also part funded by donations from the Pledge Dinner brought forward from the previous financial year

THE TROLLOPE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

7 Charitable activities
Trollopiana
Movement of Stock
Publicity and Promotion
Postage
Member's events
Production
Storage and dispatch of books
Support costs
Administration
Accommodation
Office expenses
Subscriptions
Management expenses
Bank and credit card charges
8 Governance costs
Annual general meeting
Accountancy		 2021
10,750
8,000
5,492
1,431
11,000
60
2,043
5,686
0
2,057
0
0
886
47,405
2021
0
595
595		 2020
11,146
2,000
2,000
378
9,774
0
1,071
4,931
0
1,935
40
447
932
34,654
2020
266
565
831
Expenses reimbursed to trustees totaled £2498.40. Trustees received no remuneration during
the year
9 Tangible fixed assets 2021 2020
Library of antiquarian books 1,075 1,075
Book stock 10,799 18,799
11,874 19,874
10 Cash at bank and in hand
Cash at bank 105,152 87,551

THE TROLLOPE SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

11 Debtors
Debtors and prepayments
VAT recoverable
12 Creditors: amounts due within one year
Charter deposits
Accruals and deferred income
VAT payable
13 Analysis of net assets between funds
Fixed assets
Net current assets
Liabilities due after one year
14 Analysis of unrestricted funds
Unrestricted reserve
Retained earnings
Surplus for the year
15 Designated funds
The Trollope Memorial Fund		 2021
7,501
694
8,195
2021
42,494
6,459
48,952
Unrestricted
Designated
Funds
Funds
11,874		 2020
5,350
743
6,093
2020
42,494
11,169
53,663
Total
11,874
64,394
-20,954
62,623
1,771
-20,954
53,543
2021
27,739
12,482
13,322
53,543
2021
1,771
1,771		 55,314
2020
27,739
11,777
705
40,221
2020
1,771
1,771

The Trollope Memorial Fund was established to pay for the carving and installation of a memorial stone to Anthony Trollope in Westminster Abbey in 1993. The resultant surplus is held against future costs.

-11 –

THE TROLLOPE SOCIETY

MANAGEMENT INFORMATION

FOR THE YEAR ENDED MARCH 31[st] 2021

THE TROLLOPE SOCIETY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Expenditure
Trollopiana and Promotion
Movement of Stock
Promotion and Pulic Relations
Administration
Accommodation
Office Expenses
Management Expenses
Postage
Bank and credit card charges
Members' events
Annual general meeting
Accountancy
Storage and despatch
Production
Income
Subscriptions
Gift aid - subscriptions
Donations and gift aid thereon
Income from goods and services
Sales of Trollope novels
Sale of other books
Members Events
Lottery Grant for Dr Thorne
Lottery for Pick up a Trollope
Interest receivable
Other sales
Surplus for the year		 2021
10,750
8,000
5,492
5,686
0
2,057
0
1,431
886
11,000
0
595
2,043
60
48,000
11,513
2,019
22,300
4,182
8,930
1,770
6,500
702
3,406
61,322
13,322		 2020
11,146
2,000
2,000
4,931
0
1,975
447
378
932
9,774
266
565
1,071
0
35,485
10,681
1,525
5,198
4,048
3,367
10,373
666
332
36,190
705