The Anglo-Portuguese Society

ANGLO-PORTUGUESE SOCIETY

ANNUAL REPORT 2015

9 Clifford Street London W1S 2FT

THE ANGLO-PORTUGUESE SOCIETY

A Registered Charity No: 313589

Founded in 1938

Objects of the Society

The objects of the Society shall be

1. The education of the people of the United Kingdom about Portugal, its people and its culture.

2. The relief from suffering of the people of Portugal and the United Kingdom.

In pursuance thereof but only to that extent the Society shall, with the participation of thosePortuguese that are resident in the United Kingdom.

a) Work towards the continuation and furtherance of the cordial relations which have solong existed between the United Kingdom and Portugal

b) Promote friendly intercourse between the peoples of both countries

c) Hold lectures, conferences, exhibitions and other functions and activities demonstrating,

celebrating and supporting the intellectual, artistic, social and economic life of Portugal

d) Donate funds to hospitals and to other charitable institutions in either country having

objects similar to object 2 above

Rule 2 —Rules (2014)

PRESIDENT

His Excellency The Portuguese Ambassador, Sr. Joao de Vallera

PAST PRESIDENTS

S.E. Emb. Gonqalo Caldeira Coelho, KCMGS.E. Emb Albano Nogueira

S.E. Emb. Joao de Hall Themido, GVCOS E. Emb Antonio Vaz Pereira, GVCO

S.E. Emb. Antonio Costa LoboS.E. Emb Jose Gregorio Faria

S.E. Emb. Fernando Andresen GuimaraesS.E. Emb. Antdnio Santana Carlos

VICE PRESIDENTS

Mr Hugh Arbuthnott, CMGHis Grace the Duke of Wellington OBE DL

Mr James Hall

The Lord Merrivale, FRSAMr Roger Westbrook CMG

Mr Gavin TrechmanMr Siegfried Hahn

EXECUTIVE COMMITTEE

CHAIRMANMr B Hornung

VICE CHAIRMANMr R Wilson

Mr A DyceMr J GalazMrs S Hall

Mr S MalenoMiss Sandra Carito

Ms J MatosMr C MullerMr R Nunes MendesDr J PerkinsMrs Patricia Palma

SECRETARYMs J Cliffe

HONORARY TREASURERMrs Cristina Fernandez

BRASILUSANS

Chairman: Mr R Nunes Mendes

Anglo-Portuguese SocietyMs J Cliffe

The Anglo-Brazilian SocietyVacant

HONORARY INDEPENDENT EXAMINERMr Frederick Chalk BA (Hens), ACA, CTA

LISBON REPRESENTATIVEMrs V Ramos de Deus

ALGARVE REPRESENTATIVEMr Paul Azevedo

REPORT OF THE CHAIRMAN AND EXECUTIVE COMMITTEE

2015 was a very challenging year for the Anglo-Portuguese Society in which its operating costsneeded to be significantly reduced and consideration given to changing into a 'virtual Society' which

uses a cloud based infrastructure.

The major cost areas examined were secretarial services and rental of offices in central London.Our objective was to bring the operating expenses down to below 510,000 and manage all events to

produce a surplus.

During this difficult period income from subscriptions increased by f2,734 to 512,113, confirming apositive trend in an increase in membership (subscriptions after 1 January 2016 have beenincreased). Also income from events increased due to the quality of the venue and the number ofmembers and guests attending our events

The Anglo-Portuguese Society has been most fortunate to have been permitted to use the Cavalry 8,

Guards Club as the principal venue for hosting most of its events. The Club has a strong balancesheet and profitable operating account, history, personal service and attention to detail. It has beenan optimum solution for the Society.

A structured calendar of events, planned well in advance, all generated a surplus, and included:

22 January: New Year and New Members Party at St Peter's Eaton Square.

17 February: Pitt Hornung. Rise and Fall of an Anglo-Portuguese Enterprise. Chairman's Talk.

17 March: The Treaty of Windsor. An illustrated talk by Peter Booker.

14 April: The Portuguese in Goa. An illustrated talk by Narindar Saroop.

12 May: The Treaty of Windsor Dinner.

25 June: AGM followed by a Reception at the Residence.

23 September: Lunch at 127 Piccadilly, followed by a tour of Apsley House and the

Wellington Arch.

8 October: Tutored Wine Tasting by George Sandeman of Sogrape.

2 November: David Mynett Memorial Lecture, given by Marcus Beresford and Ann Waterfall

Award.

24 November: Conquerors - An illustrated talk and book launch by Roger Crowley.

The Society's involvement with the Younger Members (Brasilusans) ceased during the year and

there is a note to this effect on page 11 of the Accounts. Losses incurred have been written off.

We explored working with the Anglo-Portuguese Ensemble, a group of young British andPortuguese musicians living in London. This project began after a very successful concert at the

Royal Academy of Music, featuring students and alumni of that institution, attended by

representatives of the Portuguese Embassy. Concerts have since been performed at the Church ofOur Lady of the Assumption and St Gregory which is on the site of a chapel built by the Marques dePombal, when he was Ambassador to the Court of St James's. The Society is seeking advice as tohow The Anglo-Portuguese Ensemble, as a group of Performing Artists who are remunerated fortheir work, can be administered by and be part of the Society, a Registered Charity.

We have now opened an account with the Charities Aid Foundation (CAF) Bank, to facilitate annual

subscriptions being paid via Direct Debit in order to automate the collection of Gift Aid as applicable.The Society has applied to open an account with Caixa Geral Depositos in order to have a Euroaccount facility.

Cristina Fernandez was appointed Honorary Treasurer. Robert Wilson has generously offered tostand for election as Chairman.

The Society is attracting younger members to serve on the Executive Committee, which is criticallyimportant as one of the largest generations in history is about to move into its prime spending years.Millennial's live in a hyper-connected, pressure-packed world and are bombarded by over 5,000marketing messages each day. The trend of access not ownership is giving rise to what is beingcalled, "The sharing economy,

" and this includes the sharing of experiences. The development of amobile friendly website complemented by appropriate social media is the priority for the Society.

ACKNOWLEDGMENT AND THANKS

We thank our Honorary President, His Excellency the Portuguese Ambassador Senhor Joao deVallera, for his generosity in inviting the Society to the Residence and for his continued support andpersonal guidance.

We are most grateful for the contribution of all our Corporate Members, in particular Caixa Geral deDepbsitos (London Branch), Novo Banco and Savills.

In Portugal we are fortunate to have as our representatives Veronica Ramos de Deus in Lisbon andPaul Azevedo in the Algarve. We thank them for their work for the Society and for the wonderfulraffle prizes they arranged.

Our thanks go to all those who have served on the Executive Committee during 2015 and wewelcome those joining the Executive Committee, in particular Sandra Carito and Patricia Palma.We also thank Jane Cliffe who worked tirelessly throughout one of the most difficult years of theSociety and acted as the shock absorber between many difficulties.

Our guest speakers who give freely of their time and who meet their own expenses deserve ourgratitude and thanks as does the Staff of the Cavalry 8 Guards Club who have ensured the successof so many wonderful events throughout the year.

Most importantly our thanks go to all our members for their confidence and continued support. Ifmembership remains above 300 and increases and all events are run at a surplus, the annual deficitwill be eliminated.

THE PROGRAMME OF EVENTS FOR THE PAST 6 MONTHS AND THE NEXT 6 MONTHS

21 January: New Year and New Members Party at St Peter's Eaton Square.

'I8 February Chairman's Lecture

29 March: Professor Filipe Ribeiro de Meneses. Portugal's participationin the First World War

21 April: Hazets Robins - Angels 4 Whores

12 May: Treaty of Windsor Dinner

22 June: AGM and Reception

22July: Requiem mass for the Portuguese fallenin the First World War

September: visit to Stratfield Saye and Portuguese Fireplace at Lyndhurst

6 October: Wine Tasting and Buffet Dinner

16 November: The David Mynett Memorial Talk. Ann Waterfall Award

THE ANGLO-PORTUGUESE SOCIETYREGISTERED UK CHARITY NO. 313589

INCOME AND EXPENDITURE ACCOUNTfor the year ended 31 December 2015

Notes 2015 2014

Income

Subscriptions receivedPrizes & grantsIncome from events and activitiesYounger membersDonations (incl. gift of David Mynett paintings)Gift aid receiptsAdvertising income

12,113750

16,169

4151,264

9,374

14,409

5,2433,392

Expenditure

Cost of events and activitiesGrants and donationsDepreciationBank chargesInsuranceAccountancy feesPrinting and stationeryRentOffice moveSecretarial servicesTelephone and postageTravelling and meetings

30,711

12,4521,522

229263309486251

4,560

16,020458677

32,418

10,8601,000

86274459496828

4,841

16,854612547

(37,227) (36,857)

(Deficit)/surplus before interestInterest received

(6,516)205

(4,439)362

(Deficit)/surplus for the yearTransfer to Younger Members FundTransfer to Restricted Fund

(6,311)76

(4,077)

Transfer to accumulated fund 5 (6,311) (4,077)


BALANCE SHEET31 December 2015

Notes 2015 2014E

Fixed assetsOffice, catering and computer equipment 2 685 914

Current assetsStock of paintingsOther stocksOther debtors and prepaymentsPetty cashYounger members cash at bankCash at bank —General fundCash at bank —Restricted fund

4,635 4,635931 1,053

3 1,456 4,47833 35

3,32622, 708 24, 02335,305 35,305

65,068 72,855Less: Creditors falling due within one year 4 (650) (2,050)

Net current assets 64,418 70,805

Net assets 65,103 71,719

ReservesAccumulated fundRestricted fundYounger member fund

5 29,79835,305

6

65,103

27,08935,305

9,325

71,719

Approved, with the delegated authority of the Committee

On

By

Bernard HornungChairman

NOTES TO THE ANNUAL ACCOUNTS31 December 2015

1. ACCOUNTING POLICIES

The annual accounts are prepared on the historical cost basis.

Subscriptions

Subscription fees are due annually on 1 January. In the event of non-payment by the following

30 June, members names are removed from the register. Accordingly subscription income isrecognised in the year in which it is received or in the year to which it relates, if this is later.Subscription income includes those subscriptions paid under deed of covenant.

Grants

Grants received are accounted for as income in the year in which they are received.

Depreciation

Depreciation on office, catering and computer equipment is calculated at 25'k on written downvalue.

Benefits in Kind

In common with many other charities, the Society receives benefits in kind, in the form of workcarried out by volunteers, donations of bottles of wine and other drinks, and of otherconsumables (for specific events, including the Annual Dinner) as well as, on occasions, the useand facility of equipment without charge. On the grounds of insignificance, no value is placed onthese benefits in kind in the Income and Expenditure Account and where a benefit extends overmore than one accounting period, for the same reason, no value is ascribed to benefit in theBalance Sheet.


NOTES TO THE ANNUAL ACCOUNTS31 December 2015

2. OFFICE, CATERING AND COMPUTER EQUIPMENT

OfficeEquipment

E

CateringEquipment

E

ComputerEquipment

E

Total

CostAt 1 January 2015Additions

1,731 240 6,186 8,157

At 31 December 2015 1,731 240 6,186 8,157

DepreciationAt 1 January 2015Charge for the year

1,731 240 5,272 7,243229 229

At 31 December 2015 1,731 240 5,501 7,472

Net book valueAt 31 December 2015 685 685

At 31 December 2014 914 914

3. OTHER DEBTORS AND PREPAYMENTS

Prepaid rentPrepaid insuranceGift aid debtor

2015 2014E E

1,200 960256 126

3,392

1,456 4,478

4. CREDITORS FALLING DUE WITHIN ONE YEAR2015 2014

E E

Accrued office expensesAccrued accountancyAccrued secretarial expenses

150 150500 500

1,400

650 2,050


NOTES TO THE ANNUAL ACCOUNTS (continued)31 December 2015

5. ACCUMULATED FUND

20158

20145

This represents the accumulated results as transferredfrom the Income and Expenditure Account.

Balance at 1 January 2015Transfer from Income and Expenditure AccountTransfer from Anglo-Portuguese SocietyWrite off —Younger Members Riggs bank balanceAdjustment —Younger Members Nat West bank balanceReceipt —Younger MembersDonation —Younger Members

27,089(6,311)9,325(297)

(3,029)6,042

(3,021)

31,166(4,077)

Balance at 31 December 2015 29,798 27,089

6. YOUNGER MEMBERS FUND

The Younger Members Committee organises fund-raising events jointly with the YoungerMembers Committee of The Anglo-Brazilian Society. Surplus funds held at the end of the yearare shared equally between the two societies. The Society's share of the Income andExpenditure Account is shown in total and the surplus funds are included in the Balance Sheet.

2015E

2014E

Balance at 1 January 2015Transfer to Anglo-Portuguese Society

9,325 9,325(9,325)

Balance at 31 December 2015 9,325

The Younger Members Fund is a designated fund set up by the Executive Committee from fundsraised by the Younger Members Committee. After retention of an annual amount to coveradministrative expenditure connected with the Younger Members Committee's activities, theExecutive Committee applies the funds to make donations that are consistent with the Society'sobjectives at the time the funds are raised.


NOTES TO THE ANNUAL ACCOUNTS (continued)31 December 2015

6. YOUNGER MEMBERS FUND continued

The Society's involvement with the Younger Members (Brasilusans) ceased during the year. Theaccounts of the society to the 31 December 2014 included balances in respect of the YoungerMembers which comprised a bank balance with Nat West Bank in the sum of 53,029 and a bankbalance of f297 with Riggs Bank i.e. bank balances totalling f3,326. These were represented byaccumulated reserves in respect of the Younger Members in the sum of 59,325. The bank balancesshould have equalled the accumulated reserves balances. The difference between the two doesnot constitute a 6 loss to the society but rather it arises as far as we can ascertain from incorrectaccounting in the early years of its involvement with the Younger Members i.e. accountingadjustments between the Society's reserves and Younger Members reserves were not accountedfor correctly. The historic difference has now been fully accounted for in the accounts to 31December 2015.

The only financial loss we are certain has happened is a loss in the sum of f297 in respect of thesociety's 50'la share of the bank balance with Riggs Bank. This bank ceased to trade several yearsago and there is no prospect of this amount being recovered and it has been written off in theaccounts to 31 December 2015.

10

STATEMENT OF THE COMMITTEE'S RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS

Under the Charity law and the Statutes of the Society the Committee is required to prepareaccounts for each financial year. In preparing these accounts the Committee is required to:

~ select suitable accounting policies and then apply them consistently

~ make judgements and estimates that are reasonable and prudent

~ prepare the accounts on the going concern basis, unless it is appropriate to presume thatthe Society will not continue in business.

The Committee is responsible for keeping proper accounting records, which disclose with

reasonable accuracy at any time the financial position of the Society and enable it to ensure that theaccounts comply with the Society's accounting policies. The Committee is also responsible forsafeguarding the assets of the Society and hence taking reasonable steps for the prevention anddetection of fraud and other irregularities.

11

INDEPENDENT EXAMINER'S REPORT

TO THE MEMBERS OF THE ANGLO-PORTUGUESE SOCIETY

I report on the accounts of The Anglo-Portuguese Society for the year ended 31 December 2015, which areset out on pages 5-11.

Respective responsibilities of the Society's Committee and of the Examiner.

As the Society's Committee you are responsible for the preparation of the accounts; you consider that theaudit requirements of Section 43(2) of the Chadties Act 1993 (the Act) does not apply. It is my responsibility tostate, on the basis of procedures specified in the General Directions given to me by the CharityCommissioners under Section 43(7)b of the Act, whether particular matters have come to my attention.

Basis of Examiner's statement

My examination was carried out in accordance with the General Direction given by the Charity Commissioners.An examination includes a review of the accounting records kept by the Charity and a comparison of theaccounts present with those records. It also includes consideration of any unusual items or disclosures in theaccounts, and seeking explanations from you as the Society's Committee concerning such matters. Theprocedures undertaken do not provide all the evidence that would be required in an audit and consequently I

do not express an audit opinion on the view given by the accounts.

Independent Examiner's 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 41 of the Act, and- to prepare accounts, which accord with the accounting records and to comply with the accounting

requirements of the Act have not been met, or

2. to which in my opinion, attention should be drawn in order to enable a proper understanding of theaccounts to be reached.

Freddie Chalk BA (Hons) ACA CTAga Margravine RoadLondonW6 BLS

LIST OF CORPORATE FRIENDS

Banco Santander Totta SA

Blandy SGPS Lda

Caixa Geral de Depdsitos, SA

Calouste Gulbenkian Foundation

Cameira & Associados

Deloitte Touche LLP

The Emerson Group

Finantia Securities Ltd

Grosvenor Group Holdings Ltd

International Power Pic

KPMG

Neville de Rougemont

Novo Banco SA

PricewaterhouseCoopers

Savills

Knight Frank

The Anglo-Portuguese Society

Documents

Transcript of The Anglo-Portuguese Society