REGISTERED NUMBER: 10566132 (England and Wales)

SOCIETY OF LOCAL COUNCIL CLERKS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs T A Davis

Mr E J Humphreys

Mr A J Keppel-Green

Ms G E Lopes

Mr S C Trice

Ms H Ball

Mr L M Dunkley

Ms T L Godden

Ms B E Boyer

Mr P A Rowe

Ms L C Larter

Mr I R Morris

Mr C L Thatcher

Ms C S W Evans

Ms S G Jones

Ms R Avery

Ms D Platt

REGISTERED OFFICE:

Suite 2.01

Collar Factory

112 St Augustine Street

Taunton

Somerset

TA1 1QN

REGISTERED NUMBER:

10566132 (England and Wales)

ACCOUNTANTS:

Wallace Crooke

Chartered Accountants

College House

St. Leonards Close

Bridgnorth

Shropshire

WV16 4EJ

FIXED ASSETS

Tangible assets

4

4,874

2,019

Investments

5

10,000

10,000

14,874

12,019

CURRENT ASSETS

Debtors

6

226,914

620,587

Cash at bank and in hand

704,365

382,285

931,279

1,002,872

CREDITORS

Amounts falling due within one year

7

517,135

567,097

NET CURRENT ASSETS

414,144

435,775

TOTAL ASSETS LESS CURRENT LIABILITIES

429,018

447,794

RESERVES

Qualification development reserve fund

9

20,000

43,813

Charitable trust reserve fund

9

92,395

-

Income and expenditure account

9

316,623

403,981

429,018

447,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 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 23 May 2025 and were signed on its behalf by:

Mr A J Keppel-Green - Director

1.	STATUTORY INFORMATION

Society of Local Council Clerks is a private limited 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 company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Preparation of consolidated financial statements

The financial statements contain information about Society of Local Council Clerks as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

20% on cost

Office equipment

-

33% on cost, 20% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The Society is a participating member of a multi-employer defined benefit pension scheme. The pension scheme is accounted for as if it were a defined contribution plan, as insufficient information is available to account for the pension scheme as a defined benefit plan, and the Society has entered into an agreement with the multi-employer plan that determines how the Society will fund a deficit. The Society has recognised the liability for the contributions payable that arise from the deficit funding agreement and the resulting expense to the profit and loss.

Fund accounting

General funds can be used in accordance with the objectives of the Society at the discretion of the Board.

Infrastructure fund

The Society's Infrastructure Reserve exists to support the procurement, development, replacement and non-routine maintenance of the Society's premises, IT and telecommunications infrastructure, to the extent that costs cannot be managed within annual budgets. The Infrastructure Reserve is sustained through contributions from the annual budget and ad hoc shares of annual surpluses at the discretion of the Chief Executive and Board.

Qualification development fund

The Society's Qualification Development Fund exists to support any qualification developments which are necessary to update any of the courses, ran by the Society, in line with the relevant laws and legislation. The Qualification Development Fund is sustained through specific split of course fees designated to each specific course, as well as additional ad hoc share of annual surpluses at the discretion of the Chief Executive and Board.

Charitable trust reserve fund

The Society's Charitable Trust Reserve Fund exists to enable the granting of funds, pending the acceptance of the application to the Charity Commission, to advance education within the local council sector and promote knowledge of and participation in local government. The Charitable Trust Reserve Fund is sustained by the accumulated funds of the shadow Educational Trust.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 65 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Office

property

equipment

Totals

£

£

£

COST

At 1 January 2024

27,792

128,414

156,206

Additions

-

5,014

5,014

At 31 December 2024

27,792

133,428

161,220

DEPRECIATION

At 1 January 2024

27,792

126,395

154,187

Charge for year

-

2,159

2,159

At 31 December 2024

27,792

128,554

156,346

NET BOOK VALUE

At 31 December 2024

-

4,874

4,874

At 31 December 2023

-

2,019

2,019

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

10,000

NET BOOK VALUE

At 31 December 2024

10,000

At 31 December 2023

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

165,710

195,088

Amounts owed by group undertakings

29,170

416,484

Other debtors

3,000

3,000

Prepayments and accrued income

29,034

6,015

226,914

620,587

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

456,916

474,424

Taxation and social security

26,698

25,665

Other creditors

33,521

67,008

517,135

567,097

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

-

15,000

9.

RESERVES

Income

Qualification

Charitable

and

development

trust

expenditure

reserve

reserve

account

fund

fund

Totals

£

£

£

£

At 1 January 2024

403,981

43,813

-

447,794

Deficit for the year

(18,776

)

(18,776

)

Transfers to/from fund

(68,582

)

(23,813

)

92,395

-

At 31 December 2024

316,623

20,000

92,395

429,018