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REGISTERED NUMBER: 02294631 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE INVESTOR RELATIONS SOCIETY
LIMITED BY GUARANTEE

THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE INVESTOR RELATIONS SOCIETY
LIMITED BY GUARANTEE

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Douglas Radcliffe : Chairman
Matthew Hall
Ross Hawley
Alison Owers
Fraser Thorne
Robert Gurner
Laura Hayter
Nigel Pears
Bethany Barnes
Holly Gillis





SECRETARY: James Eves





REGISTERED OFFICE: Suite 717, 70 Gracechurch Street
London
England
EC3V 0HR





REGISTERED NUMBER: 02294631 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,998 7,730

CURRENT ASSETS
Debtors 5 203,681 199,377
Cash at bank and in hand 246,532 261,278
450,213 460,655
CREDITORS
Amounts falling due within one year 6 241,192 246,609
NET CURRENT ASSETS 209,021 214,046
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,019

221,776

PROVISIONS FOR LIABILITIES 7 34,095 28,095
NET ASSETS 181,924 193,681

RESERVES
Income and expenditure account 181,924 193,681
181,924 193,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which 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 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 company.

THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





Douglas Radcliffe : Chairman - Director


THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

The Investor Relations Society is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. They have not identified any material uncertainties or risks related to events or conditions that could cast significant doubt about the company's ability to continue as a going concern and therefore the financial statements for the year ended 31st December 2023 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Recognition of income and expenditure
a) Subscriptions
Annual subscriptions are recognised over the period to which they relate.

b) Publications
All expenditure arising from the printing and publication of Informed magazine are accounted for in the period in which the publication is mailed out. Income from Informed and website advertising is accounted for in the period(s) to which it relates. The cost of production of other publications is spread over a period of 12 months from the date of publication.

c) Conferences
Income and expenditure arising from conferences and dinners is recognised wholly within the accounting period in which the event takes place. Any fees received relating to conferences and dinners taking place post year end are included within deferred income.

d) Educational activities
Income arising from educational activities consists of examination fees, sale of course manuals and course fees. Expenditure relates to the cost of setting and holding examinations, preparation of course material and holding meetings and courses. Income and expenditure are taken to the Income and Expenditure account on a receipts and payments basis. The Society also receives sums from prominent International IR organisations to finance the preparation and presentation of professional exams and symposia. These receipts, together with the costs of presentation, are spread over 12 months.

e) Bank interest
Deposit interest is accounted for on a receipts basis.

f) Sponsorship income
Sponsorship income is recognised over the period or event to which it relates.

THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Office equipment - 33% on cost

Financial instruments
The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Pensions
The Society operates a defined contribution pension scheme. Contributions payable for the year are charged in the income and expenditure account.

Leased assets
All leases currently in operation are regarded as operating leases and the total payments made under them are charged to the income and expenditure account on a straight line basis over the lease term.

The benefits of lease incentives are recognised in profit and loss account over the shorter of the lease period and the period to the next rent review at which rent is expected to be reset to market rates.

Taxation
Current tax is payable on the taxable profit for the year. As the Society is a non-profit making organisation tax is only payable on interest received.

Financial risk management
a) Credit risk
Working capital and longer term funds are held in interest-bearing investments with approved issuing banks with at least an AA rating. The credit risk for cash is considered to be negligible, since counterparties are reputable banks which are all covered by UK or EU deposit guarantees. In respect of trade and other receivables, the Society is not exposed to any significant credit risk from any single customer or group of customers. The majority of the Society's customers are members.

b) Liquidity and interest rate risk
The Society policy is to maintain a strong balance sheet with cash deposits placed for appropriate periods of no more than three years to ensure acceptable levels of liquidity. It does not have significant exposure to interest rate fluctuations or liquidity risk.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Office
property equipment Totals
£    £    £   
COST
At 1 January 2023 43,875 57,147 101,022
Additions - 5,848 5,848
At 31 December 2023 43,875 62,995 106,870
DEPRECIATION
At 1 January 2023 39,115 54,177 93,292
Charge for year 4,387 2,193 6,580
At 31 December 2023 43,502 56,370 99,872
NET BOOK VALUE
At 31 December 2023 373 6,625 6,998
At 31 December 2022 4,760 2,970 7,730

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,792 57,115
Rent deposit held in escrow 84,480 84,480
Prepayments and other debtors 64,409 53,946
Tax - 3,836
203,681 199,377

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,343 19,694
Tax 640 (4 )
Social security and other taxes 11,527 10,559
VAT 2,510 9,595
Subscriptions and other income
in advance 161,429 157,611
Accruals and other creditors 39,743 49,154
241,192 246,609

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Provisions
Provision for dilapidations 34,095 28,095

THE INVESTOR RELATIONS SOCIETY (REGISTERED NUMBER: 02294631)
LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. PROVISIONS FOR LIABILITIES - continued

Other
provisions
£   
Balance at 1 January 2023 28,095
Provided during year 6,000
Balance at 31 December 2023 34,095

The company now provides at the rate of £6,000 per year for dilapidation costs, which the directors anticipate will arise at the end of the lease on its office premises in accordance with the terms of that lease.

8. RELATED PARTY DISCLOSURES

The Directors of the Society are subscriber members of the Society. The only transactions involving the Directors are those in connection with their membership subscriptions or attendance at Society activities.

Ultimate control of the Society is considered to be in the hands of the subscriber members.

9. POST BALANCE SHEET EVENT

The lease in respect of the Society's offices at Coleman Street matured in February 2024. Subsequently, surveyors acting on behalf of the landlord have assessed the costs of dilapidations and the landlord has returned to the Society the deposit being held in escrow minus those estimated costs of £23,000 plus VAT. The Society's own surveyors will need to assess and, if appropriate, challenge the schedule of dilapidations in due course.

During the period of the lease, provisions have been made for end-of -lease dilapidation costs and as at 31st December 2023 the aggregate provision was £34,095. Once the quantum of costs is agreed by the surveyors acting respectively for the landlord and Society, the provision will be released to the Society's Income Statement to offset the agreed costs.