Charlty number: 1061108 The Analytical Methods Trust Unaudited Trustees, report and financial statements For the year ended 31 December 2024
The Analytical Methods Trust Contents Page Reference and admlnlstratlve detslls of the Charlty, Its Trustees and advlsers Trustees. report Independent examinorfs report Statement of flnanclal actlvltles 10 Balanco shoot Not88 to the flnanclal ststements 12-19
The Analytlcal Methods Trust Reference and admlnlstrative detalls of the Charfty, Its Trustees and advlsers For tho year ended 31 December 2024 Trustees JN Miller. Chairman CS Creaser G Greenway AJ Handley ID Lumley D St8venson F Sweeting Dr Wood Charlty reglstered number 1061108 Prlnclpal offlce The Royal Society of Chemistry 8urlington House London W1J OBA Honorary s•¢retsry to the Trustee8 ID Lumley Accountants Kr8Ston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT12TU Indopendent Examlner Samantha Rouse FCCA DChA Kreston Reeves LLP 37 St Margaret's Slreet Canterbury Kent CT12TU Page 1
The Analytical Methods Trust Trustees. report For the year endod 31 Dacembor 2024 The Trustees present their report. along wlth the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordan with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in tha United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. Objectlvos and actlvltles a. Pollcles and objectlves To promote and encourage the acquisition and dissemination of knowledge in regard to methods of chemlcal analysis and the education of persons as ana1ical chemists. In setting objectlves and plannlng for activitles, the Trustees have given due conslderatlon to general guidance publlshed by the Charlty Commisslon relating to publlc ben8fft, Includlng the guldance 'Publlc beneflt: runnlng a charlty (PB2)'. b. Rlsk management Trustees revlew the commitments exp8cted to be made on the unrestricted funds annually, to assura themselves that demands nomially fall withln Income. Trustees only accept funds for r8Stricted work wh8n an agreement to cover full costs has been recelved in advance. Flnancial procedures are in place to monitor expenditure on Indivldual programmes. and thesa are review8d perlodically to ensure that th8y meet the current requlrements of the Trust. Secr•tary Contact Statemgnt Dr Wood, an AMT Trustee, has b88n paid an honor8rium of £200 per meetlng for providing secretarfal servlces to the AMC and its Expert Working Groups (EWGS) to a maximum of £2,000 per annum. This arrangement was established after communications with The Charity Commission. At the 2023 meeting of Trustees Dr Wood said that he wished to relinquish the role of Secretary after over a decade of service. Trustees agreed that the new Secretsry would be paid an honorarium of £400 per meeting that they organised. up to a maximum of £5.000 p8r year. The n8w Secretary appointed, after advert, is Prof John Dean. he is not an AMT Trust88. The contract for his appointm8nt was prepared by Royal Society of Chemistry (RSC) lawy8rs. wlth detsiled Input from the RSC and AMT Trustees. Prof Dean commenced his S8cr8tari81 duties in the last quart8r of 2024. Early indications are that the £5,000 p8r annum S8cretarial budget could prove to be insufficient. This is because of an increas8d number of EWG m88tings following the end of the depressing 8ffacts of Covid, the ease and efficiency with which Zoom based meetings can be organised and the re-commencement of main Analyiica5 Methods Committee (AMC) me6tlngs. In addition, It Is hoped that the new Sustsinability EWG will meet frequently during its embryonic months. Trustees have consldered this Issue. wish to encourage Increased output from the AMC and its EWGS, and have agreed in principle, to increase the Secretarial budget as necessary. Page 2
The Analytical Methods Trust Trustee8' report (contlnued) For tho yoar ended 31 Decombor 2024 Objectlves and actlvltles (contlnued) . Grant making policy Outline programmes for the specialist Expert Working Groups (EWGS) are approved by the Analytical Methods Committee IAMC) of the AnalWical Science Community. which receives regular reports on progress made. In addition, the Expert Working Groups publish their work in the SGientifiG literature or on the website so permitting scrutiny by the analytical community. Th8 AMC Chairman makes an annual report. including any recommendations for action or change resulting from AMC discussions to the trustees at the formal me&ting. Decislons on grantlng flnanclal support or partlal support for lectureshlps. fellowshlps. studentships and other educatlonal research are made only after consideratlon by the trustees and agaln regular progress reports are required. Work by the sp8cialist Expert Working Groups is not authorised unless supporting finantss from donations or investment Income Is guaranteed. d. Investment pollcy Th8 Trust has a capital investment currently with a mark8t valu8 of £1,096,287 (2023.. £1,052,361) g8n6fdting income of aboul £30,000 per annum. The Trust invests in an Allianz portfolio Fixed Interest Fund part of Alllanz Global Investors, who manage the fund within a low dsk pollcy of modest growth and reasonable Income, and wlth Ihe BlackRock Charishare Common Investment Fund. The Trust's Investments, which had been adversely affected following outbreak of the war in Ukraine in February 2022, began to recover due to the calming of the economlc cllmate. The Investments at the year end had generated a net galn of £16,952 (2023.. £51,472). Achlevement8 and perfomiance Tha work of the AMC Export Working Groups is no longer routinely supported by any outside organisatlon. A8 a result. a review system for the EWGS has been Impl8mented. Each will be assessed for need and effectlveness on a three-year rolling programme. The past tW81v8 months have seen a modicum in activity in AMC publications and initiatives. The website (Analytical M8thods Committee) has now become the main vehicle for AMC communication and publications, The Technical Briefs, after AMC peer review, are now all published in the Royal Society of Chemistry Journal Analytical Methods, as well as more specialist publications by one of the Expert Working Groups in Perfumer & Flavorist (Allured Business Media). Two Technical Briefs were published in 2024.. AMCTB114 Improved estimates of 8xpanded measurem8nt uncertainty, Anal. Methods, 2024, 16, 5482-5485. https:Ildoi.org110.10391D4AY90083A AMCTB115 Tensile m8chanical analysi8 in cultural heritage, Anal. Methods, 2024. 16, 6064-6067, https:Ildoi.org110.10391D4AY90097A Th8 following Expert Working Groups are appointed by the AMC l Ana1ical Science Community Council and which are supported by the AMC Trust. but sometimes r8ceive additional extemal financial support.. Animal Feedlng Stufts The work of this Group has had no strategic lead. It is likely that this Group will cease to operate from 2025. Envlronment This informal Group meets virtually on an ad-hoc basis and is led by Richard Brown. Its remit encompasses techniques relating to measurement in the environment. Page 3
The Analytical Methods Trust Trustees. report (continued) For the year ended 31 Decombor 2024 Achlevements and performance (continued) Ess8ntlal Olls The aims of this Group are the elaboration and validation of analytical methods to determine the quality and authenticity of traded essential oils. A new chair has been identified (Neil Owen) and h8 took up post in November 2024. Members of this EWG have previously bean very active and have undertaken several finger-printin9 8X8rcises for 5peGific essential oils. This Group is supported by the (new) Secretary. The Group has 10 members and 1 corresponding memb9r. Food and Feed Authentlclty The Chair, Michael Walker, has been very active CordInatIng the work in the area and for which the UK is playing a prominent part. The BSI AW134146 is a mirror group of CENrrc 460 'Food authenticity, of which the Food and Feed Authentlcty EWG has a symbiotic relationship. There is excellent UK participation In CENrrc460 which hosts eight working groups. A great deal of the work of the worklng groups has come to fruition In 7 publlshed standards in 2024, Herltage SGlenc• This Group aims to promote the role and importance of ana1ical science in the herltage science sector. The Group, led by Lucia Burgio, is actlvely pursuing a wide range of Technical Briets that are in various stages of development (as well as one publication in 2024). This Group is supported by the (new) se¢tary. The Group has 11 members. In8trumontal Analy819 The Group aims to conslder and give recommendations on features of speclflc an81[Cal instruments and to provide a forum for discussion of all aspects of mass spectrometry pertinent to obtsining rellable data with the aims of promoting best practlce in the application of mass spectrometry. At this stag8 this Group is dormant, after the resignation of the previous long-stsnding chalr. [A new chair was appointed In early 2025. Steve Hill.] Thls Group 18 SUPPOrted by the (new) Secret8ry. The Group has 9 members. Statlstlcal Methods Statistics, as the conceptual language of callbration and all aspects of data quality. plays an axial role In analytical sclence. The Group, led by JIM Miller, has identified a wide ranging series of toplcs for generation of Technlcal Brlets that are In different stages of development. This Group is supported by th8 (newl Secretary. Th& Group has 10 members and 3 corresponding m6mbers. 8ampllng Unc8rtalntylSampllng Quallty The alm Is to consider the effect of sampling uncertainty, and procedures for its elaboration, and to make recommendations as to best practice in aspects of sampling. It holds joint meetings with the equivalent Working Group of Eurachem and will publish joint documents (AMC Technical Briefs and Eurachem Leaflets. as well as software). The single chair, Mike Ramsey. hostsjoint virtual meetings. This Group is supported by the (naw) Secretary. The Group has 7 members and 2 corresponding membars (AMC EWG) as well as 14 members and 1 corresponding member (Eurachem). Sustalnabillty It was proposed by AMC that a new Group be established in 2025 on Sustainability chaired by Vicky Hilborne (nominee from the Analytical Science Community Council). This Group will be supported by the (new) Secretary. Page 4
The Analytlcal Méthods Trust Trustees, report (contlnued) For the year ended 31 December 2024 Achlevements and perforniance (contlnued) L S Theobald Lectureshlp The dual 2023 award winners David Bullock and Craig Banks have not yet had an opportunity to deliver their lectures. Note.. David Bullock will present his lecture on °Proficiency testing and the effects of analyiical methods" along with two other speakers on related topics after the AMC meetings on the 18 S8Ptember 2025. No arrangem8nts are available for Banks du8 to his sabbatical taking place in 2024-25. Announcements for appllcants for the 2025 LS Theobald Lectureship have been made with a dosing date of 1 August 2025. FUTURE PLANS In 2024 the AMC met once again in-person (October 2024) while the Expert Working Groups are establishing new ways of working, often hybrid, but with some meetings once again taking place at Burlington House. As the hybrld option for meetings Is now always available, allowlng In-person attendance or via Zoom, this allows participation for all. PUBLIC BENEFIT The work of the Analytical Methods Committee. and its Expert Working Groups. is of particular importance given that it directly enables analWical data to be produced which is both accurate and reliable. This is particularly important not only to the honest manufacturer but also to enforcement bodies and ultimately the consumer. It operates on a cross-party basis, l.e. the scientific merits of particular problems are addressed without undue influence from industry, enforcement, government or referee analyst perspectives. PERSONNEL The n8w Chair, Christopher Waldron (Watwick Unlversity), was appointed by An81ICal Scienc6 Community Council in summer 2024. In addition. a new secretary, John Dean, was appointed in September 2024. ACKNOWLEDGEMENTS I would like to formally thank all outside organisations for their support-in-klnd. Thls report would not be complete without an expression of thanks to thos8 persons In academia, industry and the publlc servlce who have given thelr tlme and expertise to the AMC and its Exp8rt Working Groups. Wlthout their assistance little would be achieved. Emeritus Professor John R. Dean DSC, PhD, DIC, MSC, BSC, Cchem, FRSC, Cert Ed, PFHEA Secretary, Analytical Methods Committee Flnanclal revlew a. Going Concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. Page 5
The Analytlcal Methods Trust Trustees, r8POrt (contlnued) For the year ended 31 December 2024 b. Reservos pollcy The accumulated capital remaining invested is regarded as a reserve to cover unforeseen eventualities In the administration or funding of work projects. The reserves policy is to retsin *h8 capital value of the fund, so far as this is prartical in view of the market variations and. if possible, to use only the income from investments to support unrestricted activities. Method development programmes and educational projects are carefully examined before comm8ncem8nt and regular progres5 meetings are required. Restricted funds ar8 expected to cover th8 full costs of restricted activities with the exp8nsos of these programm8s carried by specific sponsors and are not expect8d to impinge on reserves. At 31 December 2024, unrestricted funds amounted to £1,144,790 (2023.. £1,097,786) and restricted reserves for the year wera £10.856 {2023: £10,856). structure, governanc• and management The Ana11¢al Methods Trust (the Trust) Is 8 r8gistsred charity under the name of Th8 Society for Analytlcal Chemistry Ana11¢al Methods Trust Fund (Charity Number 1061108) and is constituted by a Trust Deed dated 1 F8bruary 1956. The aim of th8 Charity is to extend the knowledge and study of anaJical chemistry, together with the dev8lopm6nt and validation of new and Improved methods of analysls. The trustees may invest in anyihing permitted by law but are restrlcted to inv8Stm6nts in companies with paid up capital of £500,000 or over. The Trust admlnlsters the day-to-day flnances of the specialist Expert Working Groups of the Analytical Methods Committee. The trustees. who have served during the year and since the year end are set out below and are all associated with the Analytlcal Science Communlty (ASC) of the Royal Society of Chemistry (RSC); they meet in fomial committee at least once p8r year. Day-to4lay financlal business is conducted by correspondence Involving malnly the Chaimian and Honorary Secretary to the trustees. New trustees are chosen by exlstlng trustees. Trustees 8re expected to have demonstrated an Interest in and to have long-term knowledge of the activities of th8 Analytical Methods Committee and its su0MmItteeS. Most are Ilkely to have extenslve knowledge of analytical chemistry and of all m8tt8rs relating to the analysis, nature and composition of natural and manufactured materials. Four out of the eight current twstees have been elected President of the Analyiica Science Community of the Royal Society of Chemistry. The Trust conslders all the above trustees to be their key management personnel. The trustees who served from 1 January 2024 to the dat8 of signing of the financial statements w8re'. JN Millar F Sweeting D Stevenson AJ Handley CS Creaser G Greenway R Wood ID Lumley Pag8 6
The Analytical Methods Trust Trustees, report (contlnued) For the year endod 31 Decembor 2024 Statement of Trustees. responslbllltles The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Acc8Pt8d Accounting Practice). The law applicable to charlties In England & Wales requlres the Trustees to prepare flnanclal statements for 8ach financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of r8sources, including its income and expenditure, for that period. In preparing these financial ststemenls, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the m8thods and prlnclples of the Charilies SORP {FRS 102): make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures dlsclosed and explained in the financlal stalements; prepare the financial slatements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsib18 for keeping adequate accounting records that are sufficient to show and explaln the Charitys transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statem8nts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regu18tions 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of frdud and other irregularlties. Approved by order of the members of the board of Trustees and slgned on thelr behalf by: JN Mlller Chair of Trustees Date.. 26 /col Page 7
The Analytical Methods Trust Appendlx: Anatyllcal Methods Commlttee Ternis of Reference The Analytical Methods Committee (AMC) is a Committee of the RSC Analytical Science Community Council. The broad aim of the AMC is to actiV8ly contribute to the national and international efforts to establish a comprehensive framework for quality in analytical measurement. to improve and develop analytical methodology and to keep the wider analytical science community informed of developments. The Committee operates through Expert Working Groups dealing with specific topic areas. It is responsible for the general supervision and monitoring of such Expert Working Groups. However, it will also operat8 directly as and when the need is demonstrated. Terms of Reference To take a leading rol8 in identlfying and promulgating besl practice in analytical science. includlng 8spects relating to sampling, analysis, slatlstlcal methods. equipment. instrumentstion and materials. To approve and recommend the publication of validated methods. To provide Independent and Impartlal advice to stakeholders such as regulatory and harmonlsatlon bodies. To generate validated compositional data of natural products for interpretative and enforcement purp0s8S. To issue guidanGe such as Reports, Technlcal Brlefs, Recommendations, Background Papers and sofvare on topic areas of interest to promote the education and training of ana11C81 scientists. To appoint and disband Expert Working Groups as required with the approval of ASC Council and the Analytical Meth¢xls Trust, which funds their activity. To liaise with other natSonal and international bodies in the field of st8ndardisation. To nominate expert members to relevant regulatory and st8ndards bodies on behalf of the RSC (See Note b81ow). To recelve and act on reports from representatives on other committees where relevant to the work of thè AMC. To provide technical advice to UKAS on analylical quallty issues. Note: Experts nominated by the AMC shall act in their capacity a8 individual technical experts and do not nec8ssarlly represent the views of the RSC unless addltlonally authorised to do 80 by RSC Council. Page 8
The Analytlcal Methods Trust Independent examlner's report For the year ended 31 December 2024 Independent examlnerfs report to the Trustees of The Anatytlcal Methods Trust ('the Charlty,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024. Responslbllltles and basls of report As tho TnJste8s of th8 Charity you ar8 responsible for the preparation of the accounts in accordance with the requlrements of the Charitie5 Act 2011 ('the 2011 Act.). I report in respect of my examination of the Charitls accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)Ib) of the 2011 Act. Independent examlnerfs statement Your attention is drawn to th8 fact that the Charity has prepared the accounts in accordance With Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulation5 but has been withdrawn. l understand that this has been done in ord8r for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. I have completed my examlnatlon. I confim that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accountlng racords were not kept In respect of the Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records; or the accounts do not comply with the applicablo requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and faif view which is nol a m8tter considered as part of an independent examination. I have no concerns and have come aGross no other rnatters In connectlon wlth the examlnatlon to whlGh attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charitys Trustees, as a body, in accordanc8 With Part 4 of the Charities (Accounts and Reports) Regulatlons 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examineff s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitys Trustees as a body, for my work or for this report. Signed.. Samantha Rouse A7n2.- Dated.. 26 August 2025 FCCA DChA Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT12TU Page 9
The Analytlcal Methods Trust Statement of financial activities For the year ended 31 December 2024 Restrlctsd Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Investments 37,723 37,723 33,042 Total Income 37.723 37,723 33,042 Expendlture on: Charitable activities 7,671 7,671 8,362 Total expenditur• 7,671 7,671 8,362 Net Incomo boforo net galns on Investments Net gains on investments 30,052 16.952 30.052 16,952 24,680 51,742 Nat movement In fund8 47.004 47,004 76,422 Reconclllatlon of funds: Total funds brought forward Net mov8m8nt in funds 10,856 1,097,786 47,004 1,108,642 47,004 1,032,220 76.422 Totsl funds carrfed forward 10.856 1,144,790 1,155.646 1,108,642 The Statement of financlal actlvities includes 811 galns and losses reGognised in the year. The notes on pages 12 to 19 fomi part of these financial statements. Page 10
The Analytlcal Methods Trust Balance sheet As at 31 December 2024 2024 2023 Note Flxed assets Investments Current assets 1,096,287 1,052,361 Debtors Cash at bank and in hand 9.353 53,714 4,893 57,439 63,067 62,332 Current Ilabllltlas Creditors: amounts falling due within one year (3,708) (6,051) Not currènt 883gts 59,359 56,281 Total not as80ts 1,155,646 1,108,642 Charlty funds Restricted funds Unrestricted funds 10 10 10,856 1,144,790 10,856 1,097,786 Total funds 1,155,646 1,108.642 The financial statements were approved and authorised for issue by the Trust88s and signed on their behalf by: JN Millar Trust88 Date.. (Trf. 26/ty12 ID Lumley Trustee The notes on pages 12 to 19 form part of these financial statements. Page 11
The Analytical Methods Trust Notes to the financial ststements For the year ended 31 December 2024 General Infonnatlon The Trust Is an unincorporated charlty (registered number 1061108), registered in England and Wales wlth Its registered office address being 67 The Marina. Deal. CT14 6NS. Accountlng policies 2.1 Bas18 of preparatlon of flnanclal statsments Tha financlal statements have been prepared in accordance wlth the Charitl8s SORP (FRS 102) - Accounting and Reporting by Charitles: Ststement of R8commended Practice applicable to charltles preparing their accounts In accordance wlth the Financial Reportlng Standard applicable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to glve a Yrue and fairf vlew and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'tru8 and f8irf view. This departure has involved following the Charities SORP (FRS 102) published In Octob8r 2019 rath8r than th8 Accounting and Réporting by Charities,. Statament of Recommend8d Practice effective from 1 April 2005 whlch has sinG8 b88n wlthdrawn. The Analytical Methods Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inltially recognised at hlstorical cost or trans8Ction value unless otherwise stated in the relevant accounting policy. The financlal statements are presented In UK sterflng, which Is the Charltys functional currency, and rounded to the n8are8t pound. 2.2 Golng ¢onc•rn The Trustees assass whether the use of golng concem 18 approprlate l.e. whether there are any material uncertainties related to events or condltlons that may cast signlficant doubt on the ablllty of the Charity to continue as a going concem. The Trustees make this assessment In respect of a period of at least one year from the date of authorisation for Issue of the financial st£tements and have concluded that the Charity has adequate resources to continue in operational existence for the fores88able future and th8re are no mat8rial uncertalnties about the Charivs ability to continue as a golng conc8rn, thus they continua to adopt the going concem basis of accounting In preparing the financial statements. 2.3 Incomo All Income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measur@d r8llably. Income tax recoverable in relation to Investment incom8 Is recognised at the time the investment income is r8C6ivable. 2A Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benetlt to a third party, it is probable that a transfer of economic benefits will ba required in settlement and the amount of the obligation can be measured rellably. Expenditure is classified by activlty. The costs of each activity are made up of the totsl of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributabl8 to a single activlty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 12
The Anatytical Methods Trust Notes to the flnanclal statements For the year ended 31 December 2024 Accountlng pollcles (contlnued) 2.4 Expenditure (continued) Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitys objectiv, as well as any associated support costs. All axpenditur8 is inclusive of irrecoverable VAT. 2.5 Taxatlon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore It meets the definition of a charltable company for UK corporation tsx purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital galns received within categorles covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of the Taxstlon of Chargeable Gains Act 1992, to the extent that such Income or galns are applied exclusively to charitable purposes. 2.6 Invo8tm6nts Fixed asset Investrnents are a form of financial instrument and are init1811y recognlsed at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impaiment. Investment gains and losses, whether r8allsed or unrealised, are Gombinad and presented as 'Gainsl(Losses> on Investments, in the Statement of financial activities. 2.7 Debtors Trade 8nd other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount pr8paid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments wlth a short maturity of three months or less from the date of acquisition or openlng of the deposit or similar account. 2.9 Llablllll•8 and provlslon• Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event. It Is probable that a transfer of economic benefit wlll be required in settlement, and the amount of the settlement can be estlrnated reliably. Liabilities are recognised at the amount that the Charity anticipates It will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the arnounts required to settle the obligation. Where the effect of the time value of money is materia5. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Ststement of financial activits'es as a finance cost. Page 13
The Analytical Methods Trust Notes to the financial statements For the year ended 31 December 2024 Accountlng pollcies (contlnuad) 2.10 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of tho Charity and which have not been designated for other purpos8S. Designated funds comprise unrestricted funds that hav8 been set aside by the Trustees for particular purposes. The aim and use of aach designated fund is set out in the notes to the financial statements. Restrlcted funds are funds whlch are to be used In accordance wlth specmc restrlctlons Imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restrict8d fund is set out In the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Investmont Incomo Unrnstrlcted fund8 2024 Total funds 2024 Total fund8 2023 Interest- fixed interest securities 37,723 37,723 33,042 Total 2023 33,042 33,042 Analysis of •xp•ndlture by a¢tfvitles Activltlos undertak•n dlrectly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Meetings and 6ducatlon Support costs 3.963 3,963 3,708 2,311 6,051 3,708 3,963 3.708 7,671 8.362 Total 2023 2.311 6,051 8,362 All costs in the current and prior year are attributed to unrestricted funds. Page 14
The Analytical Methods Trust Notes to the flnanclal statements For the year 8nd8d 31 December 2024 Analysls of expendlture by actlvltle8 (contlnued) Analysls of support costs Support costs Total funds 2024 Total funds 2023 2024 Honorarium - secretarial services Office expenses Accountancy 800 46 2,862 800 46 2,862 1,200 51 4,800 3,708 3,708 6,051 Total 2023 6,051 6,051 Ind•pondent examlnerf8 remuneratlon The independent examlnerfs remuneratlon amounts to an Independent ex8mlner fee of £1,300 (2023 £2,160) and accounts preparatlon fee of £1,562 (2023- £2,640). Trustees. remuneratlon and expense8 The charity considers its Board of Trustees to be its key management personnel. An Honorarium of £800 (2023: £1,200) was due to Dr R Wood, a trustee, for provlding secretarial S8rvices. The Trustees have previously agreed Dr R Wood would receive £200 per meeting attended. No Trustee was paid any remuneration during the current or previous year. During the year ended 31 December 2024. expenses totalllng £1.467 were relmbursed or pald directly to 8 Trustees {2023 £700 to 7 Trustees) for travel expenses and printing, postage and stationery expenses. Page 15
The Analytlcal Methods Trust Notes to the financial statements For the year ended 31 December 2024 Flxed asset Investments Llsted Investmènts Cost or valuatlon At 1 January 2024 Addltions Disposals Revaluatlons 1,052,361 898,229 (871,2551 16,952 At 31 December 2024 1,096,287 Nat book value At 31 December 2024 1,096,287 At 31 December 2023 1,052,361 Dobtors 2024 2023 Due wlthln one yoar Prepayments and accrued income 9,353 4.893 9.353 4,893 Credltorn: Amounts lalllng duo wlthln ono year 2024 2023 Accruals and deferred income 3,708 6.051 Page 16
The Analytical Methods Trust Notes to the financlal statements For the year ended 31 December 2024 10. Statement of funds Statement of funds - current year Balance at 31 GaIn December (Losses) 2024 Balance at 1 January 2024 Income Expanditure Unrestrlctod funds Accumulated fund 1,097,786 37.723 (7,671) 16,952 1,144,790 Restricted funds Food and Feed Authentlcity DEFRA projects 8,781 2,075 8,781 2,075 10,856 10.856 Total of fund8 1,108,642 37,723 (7,671) 16,952 1,155,646 Page 17
The Analytical Methods Trust Notes to the financlal statements For the year ended 31 December 2024 10. Statement of funds (continuad) Statement of funds - prlor year Balance at 31 December 2023 Balance at 1 January 2023 Transfers inlout Gainsl (Losses) Incom8 Expenditure Unrestrlcted funds Designatod funds Lecture fund 476 (1,058> 582 General funds Accumulated fund 1,020.888 33,042 (7,304) (582) 51,742 1,097,786 Tolal Unrestrlcted funds 1,021.364 33,042 (8,362) 51,742 1,097,786 Restrlctad fund8 Food and Feed Authenticity DEFRA projects 8,781 2,075 8,781 2,075 10,856 10,856 Totsl of fund8 1.032.220 33,042 (8.362) 51,742 1,108.642 The Accumulated Fund represents the free funds of the Trust. The Designated Fund is a fund set up to maintsin the Theobald Lectures. This has been llY utilised in the prior year. Restrlcted Funds: Food and Feed Authenticity Fund - Represents grants given for work on nitrogen factors and also for work more generally on food and feed authentiGity that may be undertaken by the Food and Feed expert Working Group. DEFRA projects fund During the year end8d 31 Dec8mb8r 2021, one project, which commenced in 2019 and was funded by DEFRA, was completed. A total of £11.000 was r@ceived for the preparation of 'Guidance for the Organisation of a Nitrogen Factor Studl. The balance of £2,075 is being carried forward to cover future costs of the study and authenticsty work. Page 18
The Analytlcal Methods Trust Notes to the flnanclal statements For the year ended 31 December 2024 11. Analysls of net assets between funds Analysls of net assels between funds - current perlod Restrlcted Unrestrlcted funds funds 2024 2024 Totsl funds 2024 Fixed asset investments Current assets Creditors due withln one year 1.096,287 52,211 {3,708) 1,096,287 63.067 (3,708) 10,856 Totsl 10,856 1,144,790 1,155.646 Analysls of net assets batwoon funds - prlor perlod Restricted Unrestrlcted funds funds 2023 2023 Total funds 2023 Fixed asset investments Currant assets Creditors du8 Within one year 1,052,361 51,476 (6,051) 1.052.361 62,332 (6.051) 10,856 Total 10.856 1,097,786 1.108,642 12. Related party transactlons Tho Charity ha8 not enterod into any related party tran8action during the year, nor are there any outstandlng balances owing between related partles and the Charity at 31 December 2024. Page 19