THE JOURNAL OF MORAL EDUCATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 COMPANY REGISTERED NUMBER: 3482956 CHARITY REGISTERED NUMBER: 1067623
THE JOURNAL OF MORAL EDUCATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 INDEX TO FINANCIAL STATEMENTS Page Company Information Report of the Directors and Trustees 2/3 Accountants, Report Balance Sheet Income and Expenditure Account statement of Financial Activities Notes to the Financial Statements 8-11 Detailed Income and Expenditure Account 12 Does not form part of the Statutory Financial Statements
THE JOURNAL OF MORAL EDUCATION COMPANY INFORMATION AS AT 31 MARCH 2025 DIRECTORS AND TRUSTEES Prof J C Conroy Prof N Ferguson Prof B E Gates Prof M J Reiss Dr M J Taylor Dr J Orchard SECRETARY Prof N Ferguson REGISTERED OFFICE c/0 Archer Associates Churchill House 120 Bunns Lane London NW7 2AS BUSINESS ADDRESS Faculty of Educatlon University of Glasgow st Andrews Building I l Eldon Street Glasgow G3 6NH ACCOUNTANTS Archer Associates Chartered Accountants and Reporting Accountants Churchill House 120 Bunns Lane London NW7 2AS
THE JOURNAL OF MORAL EDUCATION DIRECTORS, AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Directors and Trustees present their Report and the Financial Statements for the year ended 31 March 2025. PRINCIPAL ACTIVITIES The principal activities of the Company in the year under review continued to be that of producing a quarterly academic journal, The Journal of Moral Education. DIRECTORS AND TRUSTEES The following Directors have held office since l April 2024: Prof J C Conroy Prof B E Gates Prof N Ferguson Prof M J Reiss Dr M J Taylor Dr J Orchard The Directors are the only Trustees. New Trustees are appointed by the existing Trustees. There are no other persons or bodies entitled to appoint Trustees. DAY TO DAY OPERATIONS The charity has six Trustees, one of whom acts as Chair and another as Secretary/Treasurer. Major policy decisions are made through consensus involving all six Trustees. The Chair is empowered by other colleagues to make executive decisions on day to day matters. The Trustees commission an editor who makes day to day operational decisions about the editing of the Journal. Volunteers assist with editing the journal though refereeing articles and offering advice to the editor. At present the charity does not engage in fund raising activities nor does it receive specific grants, The Charity publishes a quarterly journal. All expenses are related to editing the journal, organizing and attending editorial meetings, trustees meetings, awarding research grants and a limited number of promotional initiatives with regard to moral education. Publicity costs are currently borne by the publisher and not the charity.
THE JOURNAL OF MORAL EDUCATION DIRECTORS. AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued) RESERVES POLICY There is a single fund, currently held in an interest bearing deposit account at a high street bank, There are no designated funds. The Charity maintains sufficient reserves to ensure that it can publish at least four further issues of the Journal if there is a sudden drop in subscriptions. RISK ASSESSMENT The major risk is the possibility of a substantial drop in income, resulting either from a drop in subscriptions to the journal or from changes to the income- generation model for academic Journals. The publishers (Taylor and Francis) have mechanisrns in place to monitor the level of subscribers and issuing early warnings should there be a precipitate decline. While the Charity intends to ensure continued regular uninterrupted publication of the Journal, the Trustees ensure we will at least maintain sufficient funds to ensure that four issues of the Journal could still be published in the event of such a collapse and ensure a smooth close of busines5 Wlthout any major inconvenience to existing subscribers and contributors. Should the person contracted as editor be unable to fulfil their obligations through, for example, illness the Trustees have a procedure in place for producing at least one further issue before a new editor is engaged on a short or long term basis. The Trustees have and will continue to develop strategies for promoting the field of moral education within the United Kingdom and overseas. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. On behalf of the Boar Professor N Ferguson Dated: <L. Il-yg
ACCOUNTANTS. REPORT TO THE DIRECTORS OF THE JOURNAL OF MORAL EDUCATION We report on the accounts of the company for the year ended 31 March 2025, which are set out on pages 5 to LO. Respective responsibilities of trustees and examiner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. Having satisfied ourselves that the charity is not subject to audit under company law and Is ellgible for Independent examination, it is our responsibility to: examine the accounts under section 43 of the 1993 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and to state whether particular matters have come to my attention. Basis of independent examlner's report Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion Is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 386 of the Companles Act 2006. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Att 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met. ARCHER ASSOCIATES Chartered Accountants and Independent Examiners Churchill House 120 Bunns Lane London NW7 2AS
THE JOURNAL OF MORAL EDUCATION BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 FIXED ASSETS Tangible assets 340 CURRENT ASSETS Cash at bank and in hand 573,595 559,250 CREDITORS - Amounts falllng due wlthln one year 1,020 NET CURRENT ASSETS 572 575 558 230 572 915 558,232 Represented by: INCOME AND EXPENDITURE ACCOUNT 572,915 558,232 For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its income and expenditure for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime within Part 15 of the Companies Act 2006. Approved by the Dire rson Llt.- ll- lJ. and signed on its behalf by Professor N Ferguson Company number 3482956 Charity number 1067623
THE JOURNAL OF MORAL EDUCATION INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025 Note 2025 2024 TURNOVER 119,755 123,743 Administrative expenses (112,490) (119,186) OPERATING INCOME OVER EXPENDITURE 7,265 4,557 Other income 7,418 15,566 EXCESS OF INCOME OVER EXPENDITURE 14,683 20,123 All of the company's operations are classified as continuing. A statement of the movement on reserves is set out in note 5. The Company had no trecongised gains or losses other than the excess of incom over expenditure for the above two years.
THE JOURNAL OF MORAL EDUCATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Note 2025 2024 Income and expenditure Incomlng resources Royalties Special conference Investment income 119,755 123,743 7,418 15,566 Total incoming resources 127,173 139,309 Resources expended Direct charitable expenses Editorial expenses (including travel) Conferences Grants paid 26,642 40,593 28,262 54,499 107,184 113,984 Other expenditure Management and adminsitration 5,306 5,202 Total resources expended 112 490 119 186 Net Incomlng resources for the year 14,683 20,123 Funds at l April 2024 558,232 538 109 FUNDS AT 31 MARCH 2025 572 915 558,232
THE JOURNAL OF MORAL EDUCATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES Company information The Journal of Moral Education is a private company limited by guarantee incorporated in England and Wales. The registered office is c/0 Archer Associates, Churchill House, 120 Bunns Lane, London, NW7 2AS. 1.1 Accounting convention These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies, regime and follow the recommendations in Statement of Recommended Practice: Accounting for Charities. The disclosure requirements of section IA of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation Is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Office equipment 20Q/o reducing balance 1.3 Cash at bank and in hand Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE JOURNAL OF MORAL EDUCATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 MARCH 2025 2. TANGIBLE FIXED ASSETS Office Equipment COST At l April 2024 Additions At 31 March 2025 300 42 72 DEPRECIATION At l April 2024 Charge for the year At 31 March 2025 298 383 NET BOOK VALUE 31 March 2025 31 March 2024 340 All tangible fixed assets are used in the furtherance of the Charity's activities. 2025 2024 3. CREDITORS - Amounts falling due within one year Accruals 4. STATEMENT OF MOVEMENTS ON RESERVES Income and Expenditure Account l April 2024 Excess of income over expenditure for the financial year 31 March 2025 558,232 14,683 572 915
THE JOURNAL OF MORAL EDUCATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 MARCH 2025 5. RECONCILIATION OF MOVEMENTS ON FUNDS Total Excess of income over expenditure for the year ended 31 March 2025 14,683 Excess of income over expenditure brought forward at l April 2024 558,232 Excess of income over expenditure carried forward at 31 March 2025 572 915 All funds are unrestricted. 6. TURNOVER All of the Company's turnover arose from royalties receivable. 7. OPERATING INCOME OVER EXPENDITURE 2025 2024 Arrived at after charging: Depreciation 8. OTHER INCOME Investment income Bank interest 142 11,055 10
THE JOURNAL OF MORAL EDUCATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 MARCH 2025 9. TOTAL RESOURCES EXPENDED 2025 2024 Direct Charitable Expendlture Editorial expenses (including travel) Conferences Grants paid 29,164 40,593 32,087 54,499 109 706 117 809 Management and Administration Postage and stationery Website design Trustees expenses Accountancy Bank charges Depreciation 25 1,440 34 1,140 60 85 13 1,130 234 TOTAL RESOURCES EXPENDED 112 490 119 186 11
THE JOURNAL OF MORAL EDUCATION INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025 Note 2025 2024 INCOME Advance royalties for current volume Additional royalties for previous volume Special conference Investment income Bank interest 87,271 32,484 87,271 36,472 142 7,276 11,055 Total income 127,173 139,309 EXPENDITURE Editorial expenses Editors time 26,642 Editorial board Conferences 40,593 Trustees expenses Travel 2,522 Other expenditure Postage and stationery Professional fees Research grants Salaries Website design Accountancy Bank charges Sundry expenses Depreciation 25 39,949 31,223 1,440 1,140 60 34 85 42,733 1,130 234 13 Total expenditure 112 490 119,186 EXCESS OF INCOME OVER EXPENDITURE 14,683 20,123 Excess of income over expenditure brought forward 558,232 538 109 EXCESS INCOME OVER EXPENDITURE CARRIED FORWARD 572,915 558,232 12