Archives and Records Association (UK and Ireland) (A Charitabl8 Company Limlted by Guarantee) Annual Report and Financial Statements For the Year Ended 30 September 2024 Company Number; 02969472 Charity Registered in England and Wales Number: 1041063 Office of the Scottish Charity Regulator Nurnber: SC041671 Archlves and Records Assoclation (UK and Ireland) Contents For the Year Ended 30 September 2024 Pa Reference and Administrative Details Trustee Directors, Report 2-17 Independent Auditors, R8port 18-21 Consolidated Statement of Financial Activities 22 Balance Sheet and Consolidated Balance Sheet 23-24 Statement of Cash Flows and Consolidated Statement of Cash Flows 25 Notes to Financial Statements 26-42 Ar¢hlves and Records Association (UK and Ireland) Reference and Administrative Details For the Year Ended 30 September 2024 Trustee Dlre¢tors L Blight JBon A Gregson M Guest J Hancock A Hardy R Higgins R MacLeod R Perkins-smart K Schaper W Stockting R Wade A Wilson Company Secretary J S Chambers Chlel Ex•cutlve J S Chambers Charlty Number (England & Wales) 1041063 Charity Number (Scotland) SC041671 Company Numbor 02969472 Prlnclpal Address and Reglstered Offlce Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Audltors Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Bankers National Westmlnster Bank PIC 13 Market Place Reading Berkshire BG12EP Produced by Albert Goodman LLP Page 1 Archlves and Records Association (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 The Trustees, who are also directors for the purposes of the Companies Act, present their report and the financial statements of the charity for the year ended 30 September 2024. which are also prepared to meel the requirements for a directors, report and accounts for Companies Act purposes, The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011, the Charities and Trustee Investment {Scotland) Act 2005. the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: statemenl of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The full name of the Charity is Archives and Records Association (UK and Ireland). It was incorporated on 20 September 1994 as a company limited by guarantee. Its company registration number is 02969472. Its charity registration number (England & Wales) is 1041063 and its charity registration number (Scotland) is SC041671. The Charity is variously referred to throughout this report as either "the Charity" or the Companl,. References and Admlnlstratlve Details Administrative information is given in a separate section at the front of these accounts. structurei governance and management Nature of gov•rnlng document The Archlv8s and Records Assoclatlon (UK and Ireland) is a company reglstered in England and Wales limited by guarantee (number 02969472), a charity registered in England and Wales (No 1041063) and a charity registered in Scotland (No SC041671). It is governed by its Memorandum and Articles of Association. Directors and Trustees The directors of Ihe Company are the Charity's Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Trustees serving during the year and since the year-end are as follows.. L J E Blight JF8on K Downing A S Gregson M Guest J M Hancock A K Hardy R Higgins R J MacLeod (Vlce Chair) A R Nicoll (Chair) D A Powell S A Scarth K Schaper R Perkins-smart W H Stockting (resigned 14 June 2024) (appointed 14 September 2024) (appointed 14 September 2024) (appointed 22 July 2024) (resigned 13 September 2024) (resigned 21 July 2024) (resigned 22 July 2024) (appointed 10 May 2024) (appointed 10 May 2024) (appointed 16 June 2023) Produced by Albert Goodman LLP Page 2 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Directors and Trustees (contd.) E J Thompson-macrae R Wade A A Wilson (resigned 14 June 2024) (appointed 14 September 2024) Recrultmént and appolntment of trustees The Association is govemed by a Board of Trustees. Trustees ar8 directly e18Cted by members via th8 Annual General Meeting. Trustees ser4e a three-year term before they can either seek re-election for a second and final three-year term, or resign. The Chair is elected for a two-year term. Additionally, up to two Trustees can be ¢o-OPted onto the 8oard for a period of two years, renewable twice. These Trustees are not members of the Association and are co-opted to improve the skills and knowledge of the Board. Inductlon and tralnlng of trustees Trustees are inducted via four one to one sessions with the CEO. Induction includes training in charity law and charity finance. Trustees can request any training they need in order lo fulfil their responsibilities. Additional training can be offered al a twoqlay Board Awayday held annually. Arrangements for settlng key management personnel ramuneratlon Trustees are not remunerated other than for out of pocket expenses such as travel to attend Board meetings. Staff remuneration is monitored by the Personnel Sub-commitiee. Staff salaries are sei at the time of recruitment and are benchmarked at the relevant time against similar jobs in the charity and professlonal body sector. Staff may subsequently be awarded an annual cosl of Ilving pay rise at the discretion of th8 Personnel Sub-committee. Organlsational structure President The President. is normally an eminent member of the profession. Aideen Ireland was appointed the President of the Archives and Records Association (UK & Ireland} in August 2020 and resigned on 13th September 2024 at the end of her term. The Officers and the Board The general administration and policy making of the Association is the responsibility of the Board, which comprises the four Honorary Officers, up to eight Board members elected by members of the Association and up to two co-opted Trustees. The Board is responsible for the conduct of business between general meetings. Its annual report of the year's work is submitted to members for adoption at the Annual General Meeting, together with the financial ststements. Certain delegated responsibilities are also vested in the Chief Executive who is a full-time employee of the Association. Produced by Albert Goodman LLP Page 3 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Committees Committees and Sub-committees each have their own Chair and Secretary, and meet regularly. They. and the Board itself, often appoint working parties to tackle specific problems. The Chief Executive serves in an advisory capacily on certain committees and groups. Nats'ons and Re ions Each member in the UK and Ireland is automatically attached to a National or Regional group. National and Regional activities are arranged locally. There are currently eleven national and regional groups. Sections Membership of the Sections is a matter of choice. Members may join as many Sections as interest them. Each Section has its ovm elected officers and executSve committee. The Sections are.. Preservation and ConseNation Records Management and Information Governance Specialist Repositories Archives for Learning and Education Film. Sound and Photography Archives and Technology Business Records Archives and Museums New Professionals Community Archives and Heritage Group Objectlves and actlvltles Objects and alms The Archives and Records Association (UK and Ireland) {'Ihe Association,, or 'ARA') is the principal professional mernbershlp body for archivists. archiv8 conservators and records managers. It exists to serve Ihe needs of records, those who work with them and Ihose who use them for work, study or recreation. The membership of the Association consists of Registered Members, Individual Members, Student Members, Honorary Life Members, Institutional Affiliates and Individual Affiliate Members and now stands at approximately 2,300. The objects of the charitable company are,. to foster the care and preservation of archives in Ihe public interest and to promote the better administration of archive repositories: to advance the professional education and training of archivists, archive conservators and records managers and those engaged in related activities; to commission and support research into Ihe creation, use, administration and conservation of archives and the development of naw techniques and the publication of th8 useful resutts of such research. Produced by Albert Goodman LLP Page 4 Archlves and Records Association (UK and Ireland) Trustee Directors. Report For the Year Ended 30 September 2024 Publlc beneflt The public benefit provided by the Association is significant but may be difficult to measure. The key benefit of our activities is that records and archives are properly administered, preserved, conserved and made available, often with added interpretation. to the general public. The Iruslees confimi that they have complied with the requirements of section 4 of the Charilies Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales Achievements and perforniance Equlty. Dlverslty and Incluslon ARA continues to support EDI initiatives and held a number of events over the reporting period including, in January 2023, hosting and taking part in a "Diversifylng Recruilment in heritage and archives" online discussion. ARA South East and London also ran two webinars on knowledge sharing around decolonising and inclusive collections. A Workforce Survey commissioned by ARA and others in 2015 indicated that once people with physical disability entered the sector their career progression did not appear to be negatively impacted by their disability. However, over the intervening yearg it has become apparent that many polential entrants to the record keeping sector were unsuccessful in breaking into it and left before securing their first job. In order to research the true impact of having a physical disability on entrants to the profession ARA invited consultants to tender for a project which airns to understand the true Impact of having a physical disability on entrants to the profession, identifying barriers and challenges and develop and deliver appropriate guidance to the sector to overcome the identified barriers and challenges. The tender was announced in July 2024 and a consultant appointed towards the end of that year. The results of the project are expected in 2025. ARA continues to directly support members through bursaries for the annual conference, grants through the international bursaries scheme and financial help through the Cost of Living Fund which enables members to maintain their membership or pay for training. The Dlversity Allies Accessibility and the Archiveg blog serles continued throughout the year. The ARA Conference in Birmingham saw a number of presentations looking at this area of work and once again featured an 'ls it Okay, session - this year focussing on LGBTQI+ issues. In January 2024 ARA published its Equity, Diversily and Inclusion Strategic Direction report. Transfomilng Understandlng All4 continued to work to advocate for the record-keeping sector and consulted with government on a number of issues: Produced by Albert Goodrnan LLP Page 5 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 During the Conservative govemment which ended with the prorogation of parfiament on 30 May 2024 a GDPR Bill had reached the Lords, At that point, thanks to representations from ARA {amongst others) it still contained a 'purpose' for archiving in the public interest but other parts of the proposed Bill were still of concern to many of ARA'S members. A blog post for the Campaign for Records outlined these, The Bill 'fell' al the end of the parliamènt. However, a Data Rights and Usage Bill has been tabled by the incoming Government to replace it. In December 2023 the Ministry of Justice opened a consultation on their proposed digitisation and disposal of original wills. ARA campaigned against this and publicised its own response in February 2024. More than a 1,000 individuals and organisalions answered the call for the consultation and were ove￿helMlngIY opposed to it. The plans were shelv8d by the new Labour Government in January 2025. ARA'S project with the Open University on Police Records led to a meeting with the then shadow minister for policing, Alex Norris. This was a positive meeting and the shadow minister planned to lalk to the Ihen leader of Èhe opposition (Sir Keir Starmer) about the Issue and our recommendations. Following the Lal)our vlctory in the general election ARA plans to follow this up wlth the new Minlster for Policing. Outside of the sphere of Public Affairs ARA continued to promote the value of the record-keeping sector to the public through a number of proj8Cts and campaigns: New guidance on the records of Adopted and Care-experienced people was published in March 2024 and launched at an event in Westminster. The guidance, created by the Chief Archivists in Local Government Group (CALGG) of the Archives and Records Association (ARA), calls for greater access to these vital records for care experienced and adopted people. The guidance also recommends that records be preserved for at least 125 years and ideally permanently. A recommendation which would require a change in current legislation. Two key documents were published on the ARA website. Firstly, Guidance which recommends new and nuanced approach to the preservation and management of these records has bee created. Secondly, a counterpart Research Report providing full details of the project's rationale, rnethodolo9y, and findings is published. The records of adopted and care-experienced people good practice guidance for record-keepers and care professionals (England and Wales) recommends a new and consistent approach to preservation and access provision for records. The guidance has been well received and welcomed by those working in social services and with adopted and care-experienced people. ARA'S Community Archives and Heritage Group {CAHG) has a direct connection to members of the public who actively engage in volunteering in community archives and heritage groups. Through a project launched in January 2024 the CAHG website now hosts the most comprehensive directory of such groups in the UK and Ireland. Through their, now monthly, awards they also highlighl good practice across the five nations. Produced by Albert Goodman LLP Page 6 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 The Explore Your Archive (EYA) campaign entered its second decade and continued to provide a window into Ihe world of archiving for the general public. The 'Outside the Box, podcast returned for a second series of ten episodes, this time expanding the remit to include people who used archives to inspire their work as well as archivists, researchers and engagement officers. EYA also introduced a new 'Spotlight' feature and published new resources. In 2020 total impressions across social media platforms were 8.4m in 2023 total impressions were 18.5m (more than doubled in the course of three years). Website traffic has also increased: In 2019 the website had 277 visits and 649 views. In 2023 it had 11,775 visits and 24,915 vlews - in the space of 4 years 42 times more visiiors. The campalgn in Ireland also achleved significant press coverage. Awards and Volunteerlng Press coverage was also achieved for the Archive Volunteering Award which in 2024 went to Mapperton House for their Alberta project. ARA celebrated its own volunteers with a series of blogs from Expbre Your Archive volunteers which ran during volunteer week in June 2024. Another two opportunitles to promote the sector came through Ihe ARA Excellence Awards announced at the ARA Conference in Birmingham in August and the APPG for Archives and History lifetime achievements awards prize giving in May 2024.. All Part Parliamenta Grou on Archives and Histo Lifetime Achievem8nt Awards: The committee of the (UK) All Party Parfiamentary Group on Archives and History honoured the work of historian Baroness Lola Young and archivist Anne Barrett with its annual 'Lifetime Achievement Awards,. The tenth annual 'Lifetime Achievement Awards, were presented at a special lunch in the House of Commons, Westminster on 1st May 2024. ARA In 2024 over 1.000 votes were cast by the public resulling in the following awards being mada: The ARA Excellence awards were made to: Record keeping service of the Year- Highland Archive Service Record keeper of the Year - Rachel Mulr for her role as 8usiness Archives Surveying Officer for Scotland New Professional of the Year - the awafd was tled equally wilh each nominee receiving 500/0 of the vote - therefore there were two New Professionals of the Year.. Tom Bennett for his work at George Watson's College and Nicol8 Hartland for her work at the UK Parliamentary Archive. Further to these awards, one Distinguished Service Award was made by the Board to: .James Ranahan for distinguished service in archives. Produced by Albert Goodman LLP Page 7 Archives and Records Associatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Inspirlng Education, Skills and Development Review of ARA Com etenc Framework The review of the ARA Competency Framawork began in January 2024. The feview started with a consultation involving ARA members, other sector professionals, key employers and stakeholders, ARA then analysed the job market across all four nations to identify key competencies sought by employers. Additional insights were gathered by working with practitioner-led focus groups. The result was three draft competency frameworks: one for archivists, one for archive conservators and one for records managers. These draft competencies were presented to the sector for further consullation in November 2024. renticeshi The first cohort of Level 7 Apprenticeships started trainlng in England and Wales. ARA continued to work with the UK National Archives and Wèstminster Adult Education to promote the apprenticeships to employers and to provide support to employers looking to take on apprentices. Para- rofessional and archive assistant su ARA continued to support para-professionals and archive assistants with their grant programme lo study a module of the Archives and Records Management MA course. Review of Conservation Trainin Certificate Scheme In September 2024 a Consultancy brief inviting tenders to review the Conservation Training Certificate Scheme was announced. The purpose of this tender was to invite proposals to review how the Archive Conservation Training Scheme operates and to make recommendations as to how to make It a better experience for trainees, instructors, and assessors. The consultant will also map the syllabus learning outcomes to the Archive Conservator Competency Framework created by ARA. Workforce develo menl ARA collaborated wilh the UK Natlonal Archlves to appoint a consultant to research and address issues relating to career mobility and gaps in leadership skills in the record-keeping sector. Professional Re IstratSon ARA had a total of 21 applications. resulting in 3 new Foundation Members and 12 new Registered Members. A pass rate of 710/0. There are currently 97 members enrolled for Registered Membership, 36 enrolled for Foundation Membership and 5 for Fellowship. Resources Revised Securit Guidance The guidance was developed by Trident Manor Ltd with input from the ARA Security & Access Group and others with relevant expertise. Whilst the guidance does not answer all of the security questions record- keepers may have it will provide a solid basis upon which security risk management decisions can be taken. The guidance has been written to apply to a wide range of venue types and in a manner that is sensible, proportionate, and easy to understand. This guidance aims to provide advice and guidance needed for members to make informed decisions about security risk management, how to use available resources and actions to consider to proactively protect their staff, users and assets. Produced by Albert Goodman LLP Page 8 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Collections Care Toolkit Our Collections Care Toolkit was published in September 2024 following a series of webinars on the topic and is designed to support archivists and those working with archives that do not have in-house conservation support. It focuses on the main causes of damage for paper archive collections, supports better collections care decisions to improve the conditions of archives and ensures services are better prepared to provide long term appropriate storage solutions for archives. The toolkit brings together existing collections care information, advice and resources. promoting better collections care decisions and long-terrn storagé solulions for archives. The Section for Archives and Museums lossa In July 2024 AR4's Section for Archives and Museums (ARA SAM) launched a consultation for their Glossary Project. The aim is to map the terms and standards commonly used across both thé Archives and Museum sectors. It has arisen following ARA SAM'S own engagement with professionals working in the intersection of these professions and responds to the growing need and consensus to create a glossary and resource for mapping terms which might be commonly used across both sectors but. whose definitions vary dependlng on context and sector. ort for Freelancers Following a series of webinars on 'Going Freelance, an accompanying guide was published on the website. Wellbein Su ort for record kee ers A Call for tenders to survey the impact of rapid response collecting after tragedies on the mental wellbeing of the record keeping workforce was announced in March 2024 and consultants were appointed in October 2024. Vicarious trauma and emotional wellbeing is a major risk factor for people working with archives and records. ARA pioneered work in this area. In 2017 a Iraining needs survey of members saw 52 % of those who replied request training on coping with vicarious trauma and receiving emotional support linked to issues caused by worklng wlth disturblng material. As a result of this need ARA commissloned and published three wellbeing guides. We subsequently Identlfied a need to support the wellbeing of people involved with rapid response collecting after tragedies and major national and international events. The consultants were appointed to carry out new research on th8 impact of rapid response collecling on the profession and of employers understanding of it. It will also result in improved strategies for such collecting and sustainable ways of collecting. This research will then be used to update existing guidance for individuals and employers and deliver training. The overall purpose of this project is improved mental wellbeing for the workforce and wider benefit their employers. Environment Grou Case studies Launched on the first day of the ARA Conference in August 2024 the collection of case studies is designed to help inform the sector on a number of topics.. built environment, collecting envlronmental records, strategic management. Knowledge sharing and digital preservation. Produced by Albert Goodrnan LLP Page 9 Archives and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Conference and Tralning Events Birmin ham Conference Au 2024 Over three days in Birmingham the recordkeeping sector came together to talk, debate and learn about some of the most pressing issues facing our planet and our profession. Sustainability was a major theme the sustainability of life on earth and also the sustainability of the record-keeping sector. No easy solutions were presented but there was plenty of food for thought and many actions to tske away and many ideas to follow up. Keynote speeches were given by: Alistair Brown, Head of Museums, Libraries and Archives Policy, National Lottery Heritage Fund on". "Archives Forever? Supporting Archives in a Time of Climale Crisis" Zak Mensah, CO-CEO Birmingham Mus6ums on". "How Things Turned Out OK" Lorraine Finch on.. 'It is time to stop waff ling so much and take action?" Alongside the sustainability of the planet, examining the sustainability of the record-keeping profession brought another strong theme to the forefront: equity, diversity, inclusion and belonging. The theme was addressed directly in the third 'ls It Okay?, session, Another them8 emerging from a variety of different talks was the need to work collaboratively with others both across the sector but also within organisations where different departments have an impact, particularly on climate change mitigation measures, Digital challenges were covered in a number of sessions and the importance of understanding our digital carbon footprlnt, and mitigating it, meant that everyone had an action they could take: taking part in digital clean-up daylweek in 2025. Trainin events ARA continued to provide popular training courses in general business skills and added to the roster of subjects in 2024,, budgeting. time management, advocacy, project management, confident negotiation and presentalion skills. Through a newly established partnership with Naoml Kom Associates ARA was able to deliver specialist training on copyright issues. Training events from sections and regions covered: Consoriation Question Time, Disaster Recovery in Archives, Communicating Archives as Public History. Meetlng the Digital Challenge Al Grants In September 2024 ARA announced it had awarded two grants of £10.000 to projects investigating Al (and olher emerging technologies) and Iheir application within the recordkeeping sector. The call for proposals was made in April 2024 and had a very loose brief, inviting proposers to make bids for work simply within the remit.. Al and Emerging Technologies. The grants were awarded to: Dr Lise Jaillant (Loughborough University, UK) and Dr Giovanni Colavizza (Odoma LLC and University of Copenhagen, Denmark) with main partner The National Library of Wales and with support from The National Archives (TNA) for a project entitled.. FLAME (Al For Libraries, Archives and Museums) And Produced by Albert Goodman LLP Pa9e 10 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Dr Alexandrina Buchanan and Dr Victoria Stobo of Liverpool University Centre for Archive Studies (LUCAS) in collaboration with the Liverpool University Digital Innovation Facility for a project entitled: Al and ML for Catalogue Conversion. In making these grants the Archives and Records Association acknowledged both the potential benefits and the potential risks associated with using Al in the recordkeeping sector. ital reservation trainin A number of events were held during the reporting period offering digital preservation training. Several events Ware in collaboration with IRMS and Preservica and others offered via the Section for Archives and Technology's Digital Preservation Games and events hosted by different regions and nations. Provldlng Valued member servlces International rou ARA identified an opportunity to add value lor our International Members through an International Group that would function in the same way as our current National and Engllsh Region groups. The selting up of such a group was approved at the Board Meeting on 20th November 2023. The main purpose of the group will be to provide a focal point and a forum for UK and Irish record-keeping professionals working overseas and for overseas record-keeping professionals working to UK or Irlsh standards (or aspiring to do so). There will also be opportunities to share experiences and best practice and discuss shared knowledge of working internationally- often in geographically remote areas. ARA Wales ARA Membership Services continues to provide support to all regions. nations. sections and groups. Havlng idenlifi6d that members in Wales were not seelng much activity from the ARA Wales group, action was taken to revive the group with a new committee and support Irom ARA staff. The group has now held several events and restarted regular communications with members. Fundin As well as bursaries and cost of living support ARA also provides research and advocacy funds aiming to support projects within the archives and records sector v4hich'. Improve and widen education, training and continued professional development Develop and spread guidance on standards for archive-related working Investigate and develop improved methods for administering, preserving and making archives accessible Gather and disseminate infomiation on archives and archive-related operations Advocates to stakeholders, policy makers and the public the importance of the preservation and provision of appropriate access to records and archives Surve The Surveys Group ran the Distance Enquiry Services Survey between October 2023 and December 2023. The survey provides archive services with feedback from those accessing services remotely. Respondenls give the reasons for their visit, their views on the services given and also information about themselves. It's valuable for services. to aid future planning, and also for Ihe sector to generate a national profile of archive users, to help determine future planning and priorities and to advocate on behalf of the sector. Produced by Albert Goodman LLP Page 11 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Ensurlng a fit for purpose organlsation Co-o ted board members In May 2024 ARA co-opted new board members to provide expertise on: digital and emerging technologies, and business development expertlse The roles were filled by Randoph Perkins-smart (digital and emerging technologies and Kirsty Schaper (business development expertise). Revised code of ethics ARA updated and published a revised Code of Ethics in April 2024. Risk mana ement olic The publication of the ARA Risk Management Policy in June 2024 marked a milestone in the on-going work to review and refresh ARA'S governance structures. The document serves as the cornerstone to formalise ARA'S risk-based approach to decision making, improving the way that we manage our resources and build resilience to potential future challenges. Worklng wlth others Collaboration with ARMA In May 2024 The Archives and Records Association and ARMA International announce a new partnership. ARMA International, an organisation based in the USA, is one of the world's leading membership organisations serving professionals who manage and govern information assets. Like ARA. ARMA International is committed lo providing their comrnunity of members and information management professionals with industry best practices and opportunities for professional development, ongoing education, and training. ARA Members will be able to loin ARMA as individual members at 8 discounted rate of $50. The full range of ARMA membership benefits include up-to-date industry knowledge, discounts on certification programs and conferences, free webinars, and networking opportunities, ARMA members will be able to join ARA as individual members at a discounted rate of £40. This provides access to many of the member benefits enjoyed by ARA members including discounted conference rates and discountedlfree training sessions. Continuin collaborations ARA continues to work closely wlth a number of organisations in the record-keeping sector including: the UK National Archives, Information and Records Management Society, Scottish Council on Archives, Archives and Records Council Wales. Public Record offi￿ of Northern Ireland, National Records of Scotland, Business Archiv8s Council, British Records Association, Chartered Institute of Library and Information Professionals, Welsh Government Department for Museums, Archives and Libraries, All Party Parliamentsry Group on Archives and History PrOdu￿d by Albert Goodman LLP Page 12 Archives and Records Association (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Actlvltles In Scotland This year saw ARA Scotland reintroduce in-person events alongside online delivery, wilh the delivery of Ihree training events: An Introduction to Financial Records - Online: Scottish Archives Day: A Spotlight on Outreach and Advocacy - in person; and Introduction to Archive Service Accreditation online. All three events were w811 attended and received positive feedback from att&nd8es. One of ARA Scotland's diversity and inclusion officers, lida Saarinen, delivered 'Disability and Accessibility for Recordkeepers, training alongside fellow ARA colleague Philip Milnes-smith, as well as presenting a board game highlighling the increased challenges people from minority backgrounds might face in the job- hunting process at the ARA Conference in Binningham. ARA Scotland ran the following campaigns on social media: Archive Advent Calendar (December); Scottish Archives Day, to accompany the in-person event held in Edinburgh (February), and Archive30 (April). They also provided a representative on Ihe planning group for Heritage Careers Week, a week- long initiative aiming to raise awareness among young people in Scolland ol lh8 many and varied careers available in the heritage sector, Officers from AFA Scotland presented on the benefits of ARA mambership at the Paper conserrfators in Scotland news and ideas exchange 2024 put on by ICON Scotland in May. and were also invited to take part in the University of Glasgow's Information Management and Preservation induction week activities. speaking directly to the new cohort of IMP students alongside represenlalives of Museums and Galleries Scotland and the Chartered Institute of Libraries & Information Professionals, Scottish chapter. The pilot phase of the Community Archives and Heritage Group Scotland came to an end and the group is now continuing on an ongoing basis. Their activities include workshops and collaborations with the University of Glasgow, the National Trust for Scotland, and the Digital Preservation Coalition. They are planning to expand their training and events for 2025 focusing on collections care and digital collection care. Produced by Albert Goodman LLP Page 13 Archlves and Records Associatlon (UK and Ireland Trustee Directors, Report For the Year Ended 30 September 2024 Flnanclal revlew Fundralslng The ARA does not fundraise from the general public and therefore is not registered wilh the Fundraising Regulator. Income is generated from membership subscriptions, recruitment advertising, journal royalty payments, conference sales including delegate fees. exhibitor sales and sponsorship. and from a grant agreement with The National Archives. We do not work with professional fundraisers. Future plans In the coming year we will research the true impact of both physical disability and mental health on the record keeping workforce. We have both evidence that disability does not hinder a career once someone has a job but that getting that first job can be very difficult to obtain. 15.9°/o of the record keeping workforce suffers from long-term health issues, and over a third of this population identifies that their illnesses affect their work. It is an acknowledged problem that record keepers ara not rising to leadership roles outside of the sector. ARA and TNA have already jointly commissioned research into existing provision of leadership training to identify what is available and what is needed. what has worked, what has not. The next stage is to implement the recommendatlons of that research. In the comlng year we wlll review our charitable objects and rerun the Governance Review last done four years ago, The alm of this is to identify where we have improved governance to and what further work needs to be done. Reserve funding has reached a level where the Board must plan to spend reserves above the level of our reserves policy. The Board has identified it wishes to establish a Strategic Investment Plan (SIP) to use around £100,000 as seed funding to attract inward investment to the sector of around £1 million from grant giving bodies. The SIP will be drafted and an implementation plan started. It wlll seek Investment In the delivery of core activities and the development of core skills in the workforce. A Careers Hub will be established to give guidance to those considering a career in recordkeeping, employers considering options in the recruitment of new staff and to those who want to develop their career in record keeping at whatever stage they are at. It will describe different career routes into the sector and provide ARA members with guidance on how to develop their careers. Mentoring is widely acknowledged as a valuable professional development opportunity. It is usually described as a formallinformal relationship in which a more experienced or more knowledgeable person helps guides the learning and dev8lopment of less experienced or less knowledgeable parson. Mentoring has the potential to support the record keeping profession address a number of key challenges. We will therefore review and invest in mentoring for our members. Flnanclal review This report reviews the financial activities of the Archives and Records Association (UK and Ireland) for the financial year ended 30 September 2024 and should be read in conjunction with the financial statements and the notes to the accounts found later in this annual report. The consolidated statements cover all of the accounts maintained by the ARA, including those used for Iransaclions affecting Ireland and individuals and organisations in the Euro currency area and the financial activities of our subsidiary, ARA Commercial Limited. Produced by Albert Goodman LLP Page 14 Archlves and Records Assoclatlon (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 The charity's total income for the financial year was £651,098 {2023 - £631,179), an increase on the prior year of 30/0 (13.8'/0). Totsl expenditure for the year was £579.629 (2023 £612,653), a decrease on the prior year of £33,024 {??/o). A significant reason for this was to do the conference being held at a cheaper location. During this period the overall gain on our investments was £56,354 (2023 gain of £6,146). When laken together with the net income for the year, this puts the nel movement in funds at an increase of £127,731 (2023 £24,672). Thus, the Balance Sheet shows that total funds carried forward for the group as at 30 September 2024 were £775.857 (2023 £648,126). This figur6 represents an increase in funds of 19.70/0 (2023 - increase of 40/0) from the previous year. Pollcy on reserves The Trustees have a policy of allocating unrestricled funds to support the objectives and activities of the charitable company, and to keep Ihe level of reserves required under review to ensure thal they are adequate to fulfil the charity's continuing obligations. The Truslees aim to mainlain sufficient free reserves in unrestricted funds to allow for the anticipated support of speclfic developments planned to further the general objectives of the charity, as well as lo allow for at least twelve months, normal operation in the event of all income ceasing. Consequently, they aim to hold unrestricted reseNes of approximately £450,000. At the year end, the group held total unrestrlcted reserves of £662,254 (2023 £548,977). This is in line with policy. Restricted funds at the year-end amounted to £113,603 (2023 - £99,149), and represents funds held on specific Irusts. A description of individual restricted funds held is provided in Note 13. Investmènt pollcy and objectlves The Board adopts a conservative Investment pollcy taking proper professional advice before implementing any changes. Given the uncertainty of financial markets at presenl, the Association's investments are currently held in COIF ChaTlty Funds. Rolationshlps wlth related partles There are no related parties which either control or significantly influence the decisions and operations of the charity. The charitable company has a wholly owned subsidiary, ARA Commercial Limited. Objectives and pollcles The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use and nature of financial instruments is governed by the charity's policies approved by the Board of Trustees, which provide written principles on the management of these risks. Cash flow rlsk Trade creditors are paid in line with agreed credit terms and conditions, subject to correct invoicing. Produced by Alberl Goodrnan LLP Page 15 Archives and Records Assoclation (UK and Ireland) Trustee Directors, Report For the Year Ended 30 September 2024 Credlt rlsk Trade debtors are managed by setling the credit offered to customers and the regular monitoring of amounts outstanding for both time and limits. Llquidity risk In order to maintsin liquidity to ensure that sufficient funds are available for ongoing operations and future evelopments, the charity uses a mixture of long-term investments and short-term deposits. Statement of Trustees, Responslbllltles The Trustees (who are directors of Archives and Records Association (UK and Ireland) for the purposes of company law) are responsible for preparing the Trustee Directors, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial R8POrting Standard applicable in the UK and the Republic of Ireland (United Kingdom Generally Accepted Accounting Praclice). Company law 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 charitable company and the group and of the income and expenditure, of Ihe charitable group for that period. In preparing these financial statement8, the Trustees are required to: Select suitable accounting policies and then apply them consistently., Observe the methods and prlnciples in the Charities SORP. Make judgements and accounting estimates that are reasonable and prudent; State whether applicable UK Accounting Slandard have been followed, subject to any material departures disclosed and explained in the financial statements, and Prepare the financial statements on the going concern basis unless it Is Inappropriate to presume that the charitab18 company will continue in business. The Trustees are responsible for maintaining proper accountlng records which disclose with reasonable accuracy at any time the financial position of the Charitab￿ company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial infonnation included on the charitsble company's website. Legislation in tha United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Statement as lo dlsclosure to our audltors In so far as the Trustees are aware: There is no relevant audit information of which the charitable company's auditors are unaware,, and The Trustees have taken all steps that they ought to have taken lo make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Produced by Albert Goodman LLP Page 16 Archives and Records Assoclatlon (UK and Ireland) Trustee Direclors, Report For the Year Ended 30 September 2024 AUDITORS The auditors, Albert Goodman LLP, are deemed to be re-appointed under Seclion 487(2) of Ihe Companies Acl 2006. SMALL COMPANY PROVISIONS This report has been prepared in accordance With the sfflall companies regime under the Companies Act 2006. By order of the Truslees. Trustee R MacLeod Tru8tee Date: 11 March 2025 PrOdu￿d by Albert Goodman LLP Page 17 Archlves and Records Association (UK and Ireland) Independent Auditors, Report to the Trustees and Members For the Year Ended 30 September 2024 Oplnlon We have audited the financial statements of Archives and Records Association (UK and Ireland) (the 'parent charitable company,) and its subsidiary (the 'group') for the year ended 30 September 2024, which comprise Ihe consolidated Statement of Financial Activities, the consolidated and parent charitable company Balance Sheets, the consolidated and parent charitable cornpany Statement of Cash Flows, and Notes to the Financial Staiements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice. including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 30 September 2024 and of the group's incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praclice; and have been prepared in accordanc8 With the requirements of the Companies Act 2006, the Charities and Trustee Investment {ScoUand) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. 8asls for oplnlon We conductad our audit In accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's fesponsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical ￿spOnsIbIlItIeS in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustee's use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continu6 as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Other Informatlon The trustees are responsible for the other information. The other information comprises the information included in the Trustees. Report, olher Ihan the financial statements and our auditor's report thereon. Our opinion on the financial statements does nol cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Produced by Albert Goodman LLP Page 18 Archlves and Records Association (UK and Ireland) Independent Auditors, Report lo the Trustees and Members For the Year Ended 30 September 2024 In connection with our audit of the financial statem8nts, our responsibilily is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audil or otherwise appears to be mat8rially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the olher information. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report thal fact. We have nothing to report in this regard. Opinlon on other matter prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit: the information given in the Trustees, Report, which includes the Directors, Report prepared for the purposes of company law for the financial year for which the financial stat8ments are prepared is consistent with the financial statements., and the Directors, Report included within the Trustees, Report have been prepared in accordance with applicable legal requirements. Matters on whlch we ar• requlred to report by excèptlon In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have nol identified material misstatements in the Directors. Report included within the Trustees, Report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts {Scotland) Regulations 2006 requires us to report to you if, in our opinion., adequate and proper accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and returns., or certain disclosures of Iiustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit.: or the trustees were not entitled to prepare the financial statements in accordanc8 With the small companies, regime and take advantage of the small companies, exemptions in preparing the Trustees. Report and from the requirement to prepare a Stralegic Report. Responsibilltlas of trustees As explained mor8 fully in the Statement of Trustees, Responsibilities [sel out on page 17-181, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and falr vlew. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the group and parent charitable company's ability to continue as a going conGern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the parent charitable company or to cease operations. or have no realistic alternalive but to do so. Produced by Albert Goodman LLP Page 19 Archlves and Records Assoclatlon (UK and Ireland) Independent Auditors, Report to the Trustees and Mernbers For the Year Ended 30 September 2024 Audltor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK} will always det8cl a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further descriplion of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditorfs report. Irre9ularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delect material misstatements in respecl of irregularities. including fraud. The extant to which our prO￿dureS are capable of detecting irregularities, including fraud is detailed below: The extent to whlch Ihe audlt was consldered capable of datactlng Irragularltles Includlng fraud Our approach to identifying and assessing the risks of material misslatement in respect of Irregularitles, including fraud and non-compliance with laws and regulations, was as follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognlse non-compliance wlth appllcable laws and regulations; we identified the laws and regulations appllcable to Ihe company through dlscussions wlth management, and from our commercial knowledge and experience of the charity sector., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charity Act 2011, employment, data protection and health and safety legislation. we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the group's financial statemenls to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. Produced by Albert Goodman LLP Page 20 Archives and Records Assoclation (UK and Ireland) Independent Auditors, Report to the Trustees and Members For the Year Ended 30 September 2024 To address the risk of fraud through management bias and override of controls, we., performed analytical Pro￿dureS to identify any unusual or unexpected relationships; tested journal entries to identify unusual Iransactions,, assessed whethèr judgements and assumpiions made in determining the accounting estimates were indicative of potential bias; and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underlying supporting documentation; reading the minutes of meetings of those charged with governance,. enquiring of management as to actual and potential litigation, claims and breaches of relevant legislation; and reviewing correspondence with the Charity Commission and other relevant regulators Including the group's legal advisors and insurers. There are Inherent Ilmltatlons In our audlt procedures descrlbed above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misslalements that arise due lo fraud can be harder to detect than those that arise from error as they may involve deliberate concealrnent or collusion. Use of our report This report is made solety to the group and parent charitable company's members, as a body, in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audlt work has been undertaken so that we might state to Ihe group and parent charitable company's members and trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and parent charitable company and the group and parent charitable company's members as a body and the parent charitable company's trustees as body, for our audit work, for this report, or for the opinions we have formed. elle Ferris BSC (Honsj FCA DChA (Senior Statutory Auditor) For and on behalf of Albert Goodman LLP, Statutory Auditor Goodwood House Blackbrook Park Avenue Taunton Somers8t TA12PX Date: ..8.110.31)u.JS Produced by Alberi Goodman LLP Page 21 Archlves and Records Association (UK and Ireland) Consolidated Stalement of Financial Activities (including an Income & Expenditure account) For the Year Ended 30 September 2024 2024 Total 2023 Total Unres- trictgd Res- tricted Unrès- tricted Res- trlcted Notes Income from: Charitable activities Other trading activities Investment 526,595 44.328 19,775 60,400 586,995 44.328 19,775 504,139 38.895 18,145 70,000 574,139 38,895 18,145 Total Income 590,698 60,400 651,098 561,179 70,000 631,179 Expendlture on: Charitable activities 553,446 26,183 579,629 580,066 32,587 612,653 Total expenditur• 553,446 26,183 579,629 580,066 32,587 612,653 Net (expendlture) I Incomo Transfer between funds 37,252 34,217 71,469 (18,887) 37,413 39,484 {39,484) 18,526 19,763 {19,763) Other recognlsed galn8 Unrealised (loss) I gain on investment Realised gain on sale of assets Nel movement In funds for the year Reconciliation of funds Total funds brought forward 10 56,354 192) 56,354 (92) 6,411 (265) 6,146 113,277 14,454 127,731 27,008 (2,336) 24,672 548,977 99,149 648,126 521.969 101,485 623,454 Total funds carrled forward 662,254 113,603 775,857 548,977 99,149 648,126 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Produced by Albert Goodman LLP Page 22 Archlves and Records Assoclatlon (UK and Ireland) - Company R¢gl$tration Number: 02969472 Balance Sheet and Consolidated Balance Sheet As at 30 September 2024 2024 2024 2023 2023 Notes Group Charity Group Charlty Flxed assels Intsngible assets Tangible fixed assets Investments 7,028 2,634 573,911 7,028 2,634 573,912 11,304 2.141 517.557 11.304 2.141 517.558 10 583,573 583.574 531,002 531,003 Current assets Deblors Cash at bank and In hand 11 165,102 247,796 158,440 237,984 142,454 293,460 137.882 288,047 412,898 396,424 435,914 425,929 Llabiliti•$; Creditors.. amounts falllng due wlthln one year 12 (220,614) (211.849) (318,790) (313,190) Net current assots 192.284 184,575 117,124 112,739 Total nel assets 775,857 768,149 648,126 643,742 Th• funds of the chgrlly., Unrestrlcted funds. General funds 662,254 654,546 548,977 544,593 Total unr8slricted funds 13 662.254 654,546 548,977 544.593 Restricted funds 13 113,603 113,603 99,149 99,149 Total charSty funds 775,857 768,149 648,126 643,742 Produced by Albert Goodman LLP Page 23 Archlves and Records As$oclation (UK and Ireland) - Company Reglslrallon Num￿r. 02969472 Balance Sheet and Consolidated Balance Sheet (continued) As at 30 September 2024 The trustees have prepared group accounts in accordance with sectlon 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordan￿ with the special provisions of Part 15 of thè Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation lo members of the company. The notes on pages 26 - 42 form part of these accounts. 11th March 2025 Approved by the Board for issue ￿ .......,.. . and signed on t￿1r behalf by: R Wade Truslee R MacLeod Truslee Produced by Albert Goodman LLP Page 24 Archlves and Records Association (UK and Ireland) Statement of Cash Flows and Consolidated Statement of Cash Flows For the Year Ended 30 September 2024 2024 2023 Notes Group Group Cash flows from operatlng actlvities Net expenditure for the year Adjustments to cash flows from non-cash items: Depreciation and amortisation Inv8Stm8nt income Unrealised net (gain) I loss on investments {Profil) I loss on disposal of fixed assets 127,731 24,672 5,326 (19,775) (56,354) 92 5,311 (18,145) (6,146) 10 57,020 5,692 Working capital adjuslments (Increase) I decrease in debtors Increase l (decrease) In creditors 11 12 (22,648) (98,176) 16,718 86,074 Not cash flow from operations Cash flows from investing activities Purchase of tangible fixed assets Purchase of intsngible fixed assets Acquisition of investments Investment disposals Income from dividends Interest receivable and similar income {63,804) 108,484 (1,635) (164) 10 10 {322.833) 237.100 14,164 3,981 16,236 3,539 18,140 (67,752) Net increase in cash and cash equivalents (45,664) 40.732 Cash and cash equivalenls at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Cash & Cash equivalents reconciliation: Cash at bank 293,460 252,728 247,796 293,460 247,796 293,460 Total cash & cash equlvalents at the end of the reporting period 247.796 293,460 Produced by Albert Goodman LLP Page 25 Archlves and Records Assoclatlon (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Accountlng Pollcles The principal accounting policies adopted in the preparation of the financial statements are: Basls of accountlng The 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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Archives and Records Association (UK and Ireland) meets Ihe definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othepwise stated in the relevant accounting policy note{s) and all amounts are presented in £ sterling. These financial statements consolidate the results of the Charity and its wholly owned subsidiary, ARA Commercial Limited, on a line by line basis. The 'Group" heading within the balanc8 sheet refers to Ihe consolidated accounts of Archlv8s and Records Associatlon (UK and Ireland) and ARA Commercial Limited. In the parent company flnancial statements the Investment in the trading subsidiary is accounted for at cost less impairment. A separate Statement of Financial Activities or income and expenditure account, for the Charity itself has not been presented because the Charity has taken advantage of the exemplions afforded by Section 408 of the Companies Act 2006. Legal status of Ihe Charity The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respecl of the guarantee is limited to £1 per member of the charity. The company is incorporated in England and Wales and the company registered office is detailed on page 1, reference and administration details. Produced by Albert Goodrnan LLP Page 26 Archives and Records Association {UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Golng Concorn The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to evenls or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of al least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operalional existence for Ihe foreseeable future and there are no material uncertainties about Ihe Charity's ability to continue as a going COn￿rn, thus they continue to adopt the going conc8m basis of accounting when preparing the financial statements. Incoma Income from grants and donalions is recognised in the year in which they are receivable when there is evidence of entitlement, receipt is probable and the amount can be reliably measured. Where income has not be8n recaived for gift aid claims relating to donations received in the year, income is accrued. Investment income is recognised on a receivable basis Income from subscriptions are recognised on an accruals basis, with income being recognised in the period which the subscription relates. Income from sponsorshlps are recognlsed in the period in which the sponsored event takes place. The charity receives income from its subsidiary under gift aid and this is recognised upon physical receipt, The charity notes the requirement of the SORP that large charities must report their results on an activities basis. The charity considers thal they produce one activity - the operation of a professional membership body- and Iherefore reports on that basis. Interest r•¢oivabl• Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this Is normally upon notification of the interest paid or payable by the bank. Expenditure Resources expended are recognised on the accruals basis to match the period in which the expenditure was incurred. Raising funds is expenditure incurred in generating the trading subsidiary funds and from other trading activities carried out by the charity. Charitable activity expenditure comprises costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and costs of an indirect nature necessary to support them. Governance costs are those costs associated with the governance arrangements of the charity and relate to general running of the charity as opposed lo those costs associated with charitable activities. Operatlng leases The charity classrfies the lease of properties as operating leases as title remains with the lessor. Rental charges are charged on a straight lina basis over the term of the lease. Producéd by Albert Goodman LLP Page 27 Archlves and Records Assoclatlon {UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of Chafity. Restricted funds are from donations and grants in which the donor or funder has specified are to be solely used for particular areas of the Charity's work or for specrfic projects being undertaken by the Charity. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost 18ss depreciation. Fixed assets under £100 are not capitalised. Depreciation is provided at rates calculated lo write off the cost or valuation less estimated residual value of each asset Over its expected useful life as follows: Fumilure, fittings & equipment 200/0 Straight line basis 1,10 Intanglble assets and amortlsatlon Intangible assets are stated at cost less amortisation. Intangib18 ass8ts under £100 are not capitalised. Amortisation is provided at rates calculated lo write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows: Software 200/0 Straight line basis 1.11 Debtors Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the Impalrment of trade debtors Is established when ther8 is objectlve evidence that the Charity will not be able to collect all amounts due to according lo the original terms of the receivables. Other debtors comprlse prepayments and accrued Income. Prepayments arise from the payments for services prior lo benefit from those services, and accrued income is amounts due for services provided, recognised at the point of provision of the serrfices. 1.12 Cash at bank and In hand Cash at bank and cash in hand includes cash and short term hlghly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.13 Credltors Creditors are recognised where the charity 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 estimaled reliably. Creditors ar& normally recognised at their settlement amount after allowing for any trade discounts due. 1.14 Defined contributlon pension A defined contribLttion plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay fvrther contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as staff pension expense through the profit and loss when they are due, PrOdu￿d by Albert Goodman LLP Page 28 Archives and Records Assoclation (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 1.15 Taxatlon As a registered charity, the company is not liable lo corporation tax or capital gains lax to ihe extent that its income and gains are applicable to charitable purposes only. 1.16 Flnanclal Instrumenls The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows: Financial assets trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank and deposit accounls- is classified as a basic financial instrument and is measured at face valuè. Financial liabilities trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash seltlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. 1.17 FIx8d asset Invastments Fixed asset investments comprlse investment portfollos malntained by investment managers. These a￿ recognised initially at fair value which is nonnally the transaction price (but exclude8 any transaction costs.) Subsequently. investments are held at market value, with all realised and unrealised gains passing through the SOFA. Non-current asset investments are cash deposits with a rnaturity date of more than one year from the balance sheet date. These are recognised al the deposit amount plus any interest, with any interest gains passing through the SOFA when falling due. Current asset investments are cash deposits wilh a maturity date of lass than one year from the balance sheet date. These are recognised at the deposit amount plus any interest. with any interest gains passing through the SOFA when falling due. 1,18 Forelgn exchange Transadions in foreign currencies are initially recorded in the Charity's functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies ar8 retranslatad at the rate of exchange wling at the balance sheet date. All differences are taken to the Statement of Financial Activities and presented within charitable activities expenditure. Producèd by Albert Goodman LLP Page 29 Archlves and Records Assoc6atlon (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Income from charitable activities Unres- tricled funds Res- tri¢ted funds Unres- trlcled funds Res- tricted funds 2024 Total 2023 Total Gift Aid tax reclaimed Subscriptions Journal income Conference & AGM Training courses Newsletter and appointments Other income Archives cards Grant receivable 11.923 216,108 45,031 163,739 18,874 17,325 7,883 36.112 9,600 11,923 216,108 45,031 163,739 18,874 17,325 7,883 36,112 70,000 11.845 243,348 44,351 151,177 8,834 11,667 6,433 26.484 11.845 243,348 44.351 151,177 8,834 11,667 6,433 26,484 70,000 60,400 70,000 526,595 60,400 586,995 504,139 70,000 574,139 Other tradlng actlvltl•s Unrfrs- trlcted funds Res- tricled funds Unre8- trlcted funds Res- trlcted funds 2024 Total 2023 Total Sponsorship income 44,328 44,328 38,895 38,895 44,328 44,328 38,895 38,895 Investment incomè Unres. trfcted funds Res. trlcted funds Unres. trlcted funds Res. trlcted funds 2024 Totsl 2023 Totsl Dividend receivable from Listed investment Interest receivable o Cash deposits 16,236 16,236 14,164 14,164 3,539 3,539 3,981 3,981 19,775 19,775 18,145 18,145 PrOdu￿d by Albert Goodman LLP Page 30 Archives and Records AssoclatSon (UK and Ireland) Notes to the Financial Slatemenls For the Year Ended 30 September 2024 Charltable actlvlties expenditure Unrès- Irlcted Res- Irlcted 2024 Total Unres- trlcled Res- trlcted 2023 Total Charltable activltles Publications Wages & salaries Staff NIC (Employers) Staff pensions Groups AGM Archive digitisation expenses Committees and subcommittees Regions Training and education Conference Explore your archives campaign InsuranGe Computer software and maintenance Preservation & Conservalion Website Trade subscription Accommodation and serrfices Consultancy Legal and Professional fees Bank charges Irrecoverable VAT Awards and prizes Sundry expenses Amortisation Depreciation Bad debt write off Exchange rate variance 42.398 174,009 13,876 5,468 8,012 1,230 11,003 6,775 4,503 14,861 152,125 2,869 2.415 7,519 1,950 250 950 1,310 5,497 1,023 6,274 59,197 695 17,693 4,276 1,050 {14) (6,928) 42,398 174.009 13,876 5.468 8,012 1.230 37,186 6,775 9,143 4,503 3,504 14,861 10,772 152,125 236,919 2,869 2,433 2,415 1,408 7,519 8,734 1,950 2,366 250 1,000 950 6,574 1,310 1.825 5,497 11,711 1,023 1,684 6,274 5,277 59,197 25,014 695 4,282 17,693 9,866 4.276 4,276 1,050 1.035 (14} 1,726 {6,928) (11,717) 42,977 162.122 12,331 5,004 2,970 1,165 42,977 162,122 12,331 5,004 3,470 1,165 32.087 9,143 3,504 10,772 236.919 2,433 1.408 8,734 2,366 1,000 6,574 1,825 11,711 1,684 5,277 25,014 4,282 9,866 4,276 1,035 1,726 (11,717) 500 26,183 32,087 Governance Auditors fees - audit Auditors fees- accountancy 8,400 4.760 8.400 4,760 9,465 6,200 9.465 6,200 553.446 26.183 579,629 580,066 32,587 612,653 Produced by Albert Goodman LLP Page 31 Archives and Records Association (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Trustee dlrectors During the year the group made the following transactions with trustees: £5.428 {2023- £2.072) of expenses reimbursed to 13 trustees (2023.9). No trustees nor any person connected with them, have rec8ived any r8muneration from th8 group during the year (2023- none). No trustees have received any other benefits from the charity during the year (2023- none) Employees 2024 Group 2023 Group Wages and salaries Social security costs Employer pension 174,009 13,876 5,468 170,222 12,331 5,004 193,353 187,557 Number of employees The average monthly number of employees during the year, calculated on the basis of average headcount, was as follows., 2024 Group 2023 Group No. Average amployee head count One employee received employee benefits (excluding employer pension and employer national Insurance costs) of between £60,000 - £70,000 during the year (2023- none). The key management personnel for the year, comprises the Chief Executive Officer. The total employee benefits (includes gross pay, employer pension and employer national insurance) of the key management personnel of the Charily were £73.372 (2023.. £68,584). Producéd by Albert Goodman LLP Page 32 Archives and Records Assoclation (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Penslon cost5 The company operates a defined contribution pension scheme. The charge to the Slatemènt of Financial Activities for Ihe y88r is shown above. Contributions totalling £1.215 {2023 - £1,152) were payable to the schemes at the end of the year and are included in creditors. Intanglble assets Group & Charlty Software Total Cost At 1 October 2023 Additions Disposals 42,028 42,028 (20.647) (20.647) At 30 September 2024 21,381 21,381 Depreciation At 1 October 2023 Charge for the year Eliminated on disposals 30,724 4,276 (20,647) 30,724 4,276 (20,647) At 30 September 2024 14,353 14,353 Net book value At 30 September 2024 7,028 7,028 At 30 September 2023 11,304 11,304 The above assets are all held by the charity. Produced by Albert Goodman LLP Page 33 Archlves and Records Assoclatlon (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Tangible fixed assets Group & Charlty Furnlture, fittlngs & equlpment Total Cost At 1 October 2023 Additions Disposals 7,612 1,635 (1,112) 7,612 1,635 (1,112) At 30 September 2024 8,135 8,135 Depreclatlon At 1 October 2023 Charge for the year Eliminated on disposals 5,471 1,050 (1,020) 5,471 1,050 (1,020) At 30 September 2024 5,501 5,501 Net book value At 30 September 2024 2,634 2,634 At 30 September 2023 2,141 2,141 The above assets are all held by the charity. Produced by Albert Goodman LLP Page 34 Archlves and Records Asso¢lation {UK and Ireland) Notes to the Financial Statements FOT th8 Year Ended 30 September 2024 10 Investments Group 2024 2023 Llsted Investments Opening balance Additions Disposals Revaluation 517,557 425.678 322,833 (237,100) 6,146 56.354 Closing balance 573,911 517,557 Charlty 2024 2023 Listed investments Opening balance Additions Disposals Revaluation 517,557 425,678 322,833 (237,100) 6,146 56,354 Closing balance 573,911 517,557 Charlty Investments at market valu8 comprise: Total 2024 Total 2023 Shares in listed investments Shareholding in ARA Commercial Limited Ordinary shares of £1 each 573,911 517,557 573,912 517,558 ARA Commercial Lifflited (company no 1041063) was Incorporated 11 October 2012 and is a wholly owned trading subsidiary of Archives and Records Association {UK and Ireland). The parent charity holds 1000/0 of the issued share capital and IOOOh of the voting rights of the subsidiary trading company. The principal activities of the company is to service an archive digltisation contract and Archives Card Project. The registered office is the same as that of Ihe Charity, delailed on paga 1. The subsidiary gift aids some of its taxable profits to Archives and Records Association (UK and Ireland). paying corporation tax on any profits retained. Produced by Albert Goodman LLP Page 35 Archives and Records Assoclatlon (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 10 Investments {contlnued) A summary of the trading results is shown below., 2024 2023 Turnover Cost of sales 28,112 118,828) 26,484 (20,600) Gross profit Administrative expenses 9,284 11,568) 5,884 (1,500) Operating profit Interest payable 7,716 (8) 4,384 Profit before tax & profit for the financial year Retained earnings brought forward in subsidiary Gift ald to Archives & Records Association 7,708 4,384 {4.384} 4,384 2,865 12,865) Retained earnings carried forward in subsidiary The assets and liabilities were: Fixed assets Current assels Current liabilities 7,708 4,384 25,429 {17,720} 20,395 (16,010) Total net assets 7,709 4,385 Called up share capital Profit and loss reserve 7,708 4,384 7,709 4,385 Produced by Albert Goodrnan LLP Page 36 Archlves and Records Assoclatlon (UK and Ireland} Notes to the Financial Statements For the Year Ended 30 September 2024 Debtors 2024 Group 2024 Charity 2023 Group 2023 Charity Trade debtors Prepayments and accrued income Amounts owed by group undertakings Other debtors 38,161 126,941 38,161 111,324 8,955 30,465 94,153 30,465 79,789 10,410 17,218 17,836 165,102 158,440 142,454 137,882 12 Credltors: Amounts fa116ng due withln one year 2024 Group 2024 Charlty 2023 Group 2023 Charity Trade creditors Other creditors Accruals and deferred income Taxation and social security 18,826 3,602 191,427 6,759 14,888 3,602 186,600 6,759 29,209 2,387 280,393 6,801 29,010 2,387 274,992 6,801 220,614 211,849 318,790 313,190 Deforred Income 2024 Group 2024 Charlty 2023 Group 2023 Charlty Deferred income at 1 October 2023 Released from previous years Resources deferred in the year 109,550 105,399 121.666 121.666 (109,550) (105,399) (121,666) (121,666) 118,471 118,471 109,550 105,399 Deferred income at 30 September 2024 118,471 118,471 109,550 105.399 At the balance sheet date the trust was holding funds received in advance for subscriptions for 2023124. Produced by Albert Goodman LLP Page 37 Archlves and Records Assoclatlon {UK and Ireland) Notes to the Financial Ststements For the Year Ended 30 September 2024 13 Summary of movement In funds- Group Openlng balance Transfers & gains Closlng balance Income Expendltur8 Unrestricted funds . Group General 548,977 590,698 (553,446) 76,025 662,254 Restrlcted funds - Group Ellis fund The National Archives grant 6,011 93,138 6,011 107,592 60.400 (26,183) (19,763) Total reslrlcted funds 99,149 60,400 {26,183) (19,763) 113,603 Total fund8 648,126 651,098 (579,629) 56,262 775.857 Summary of movement In funds - Group (2023) Openlng balance Transfèrs & galns Closlng balance Income Expendlture Unrestrlcted funds - Group General 521,969 561,179 (580,066) 45,895 548,977 Restricted f unds . Group Ellis fund The National Archives grant 6,276 95,209 (265) (32,587) {39,484) 6,011 93,138 70,000 Toial re8trlcted funds 101,485 70,000 (32,587) {39,749) 99,149 Total fvnds 623,454 831,179 (612,653) 6,146 648,126 Summary of funds Ellis fund- endowment fund given to the Association to make occasional awards for special or distinguished service. The granting of such an award is discretionary. Movement in the related investments also pass Ihrough this fund. The original endowment received was £1,000 and, under the terms of the endowment. the charity is not permitted to spend Ihe capital. Produced by Albert Goodman LLP Page 38 Archlves and Records Assoclatlon (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 The National Archives Grant- given to fund support for the archives sector. The balance of funds are expected to be utilised in the 2024125 financial year, through work undertaken by Community Archives, volunleering, and training. The transfer made in 2022123 is correcting the position of the funds brought fonNard. Summary of movement in funds. Charity Openlng balance Transfers & galns Closlng balanc8 Income Expendlture Unrestrlcted funds - Charlty General 544,593 566,970 (533,042) 76,025 654,546 Restrlcted funds - Charlly Ellis fund The National Archives grant 6,011 93,138 6,011 107,592 60,400 (26,183) {19,763) Total rostricted funds 99,149 60.400 (26,183) (19,763) 113,603 Total funds 643,742 627,370 (559,225) 56,262 768,149 Summary of movement In funds- Charlty (2023) Openlng balance (as restated) Transfers & galns Closing balance Incom• Expendlture Unrestrlcted funds . Charlty General 519,104 537,560 (557,966) 45,895 544,593 Restrlcted funds - Charlty Ellis fund The National Archives grant 6,276 95.209 (265) (32,587) (39.484) 6,011 93.138 70,000 Total restricted funds 101,485 70,000 (32,587) (39,749) 99,149 Total funds 620,589 607,560 (590,553) 6,146 643,742 Produced by Albert Goodman LLP Page 39 Archlves and Rècords Assoclatlon (UK and Ireland) Notes to Ihe Financial Statements For the Year Ended 30 September 2024 14 Analysis of assets between funds- Group Other net Cash at current Creditors bank and assètsl more than In hand (Ilabllltl6s) Tangible flxed assèts one year Total Unrestricted funds 577,562 140.204 (55,512) 662,254 Restricted funds 6,011 107,592 113,603 As at 30 September 2024 583,573 247,796 {5S,S12) 775,857 Analysls of assets between fund8 - Group (2023) Olher net Cash at current Credilor8 bank and assetsl more than In hand (Ilabllltl•s) Tanglble flxed assets one year Total Unrestricted funds 524,991 200,322 (176,336) 548,977 Restricted funds 6,011 93,138 99,149 As at 30 Septomber 2023 531,002 293,460 (176,336 648,126 Produced by Alb8rt Goodman LLP Page 40 Archives and Records Association (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 Analysls of assets between funds - Charlty Other net Cash at current Credilors bank and assetsl more than In hand (liabilities) one year Tanglblè flxed assèts Total Unrestricted funds 577,563 130,392 <53,409) 654.546 Restricted funds 6,011 107.592 113,603 As at 30 September 2024 583,574 237,984 (53,409) 768,149 Analysis of assets between funds - Charlty (2023) Other net Cash at current Credltors bank and asselsl more than in hand (Ilabllltles) one year Tanglble fixed assets Total Unrestricted funds 524,992 194,909 (175,308) 544,593 Restricted funds 6,011 93,138 99,149 As at 30 September 2023 531,003 288,047 (175,308) 643,742 15 Income and expendlture account of the Charlty The company has taken advantage of Section 408 of the Companies Act 2006 and has not Included ils own Income and Expenditure Account or separate Statement of Financial Aclivities. Prior to glft aid amounts received from the subsidiary, the Archives and Records Association (UK and Ireland) has net income for the year of £109,822 (2023 income £23,153) based on income of £614.095 {2023 - £607,560). Gift aid distributions from trading subsidiary of £4,384 {2023: £2,865) were received in the year, in which the amount relates to the prior year trading profits. 16 Related party transactlons During the year, the Charity incurred and recharged expenses on behalf of its 1000/0 owned subsidiary of £1.508 (2023- £1.500). At the balance sheet date the amount due from ARA Commercial Limiled was £8,955 (2023 - £10,410). Produced by Albert Goodman LLP Page 41 Archlves and Records Assoclatlon (UK and Ireland) Notes to the Financial Statements For the Year Ended 30 September 2024 17 Financial instruments 2024 Group 2024 Charlty 2023 Group 2023 Charfty Financial assets that are fair value through income & expenditure account Financial assets that are debt instruments measured at amortised cost 573,911 573,912 517,557 517,558 370,937 355,100 411,144 416,141 944,848 929,012 928,701 933,699 Financial liabllities measured at amortised cost 95,419 86,714 202,439 200,990 95,419 86,714 202,439 200,990 Items of income, expendilure, gain and loss (group and charlty) Income Expense Net galns Net losses 2024 Financial assets thal are fair value through income & expenditure account Financial assets measured at amortised cost Financial liabilities measured al amortised cost 16,236 56,354 3,539 19,775 56,354 2023 Financial assets thal are fair value through income & expenditure account Financial assets measured at amortised cost Financial liabilities measured at amortised cost 14,164 6,146 3,981 18,145 6,146 Produced by Alb8rt Goodman LLP Page 42