2023-03-31-accounts

		Page
Report ofthe Trustees	1	to	6
Report ofthe Independent Auditort	7	to	10
Statement ofFinancial Activities
Balance Sheet		12
Cash Flow Statement		13
Notes to the Cash Flow Statement		14
Notes to the Financial Statemeats	15	to	23
Detailed Statement ofFinancial Activities	24	to	25

			2023	2022
			Unrestricted	Total
		Notes	fund g	fundsf
INCOME AND ENDOWMENTS FROM
Charitable activities
Educational and training			1,680,918	1,776,174
Investment income			52,107	51,239
Total			1,733,025	1,827,413
EXPENDITURE ON
Raising funds			16W8	26,759
Charitable activities
Educational and training			2,060,641	2,021,104
Total			2,077,569	2,047,863
Net gains/(losses) on investments			(239,717)	105,650
NKT INCOME/(EXPENDITURE)			(584461)	(114,800)
Other recognised gains/(losses)
Actuarial gains/(losses)	on defined benefit schemes			(62,000)
Net movement in funds			319,739	(176,800)
RECONCILIATION OFFUNDS
Total funds brought forward			(1,436,887)	(1,260,087)
TOTAL FUNDS CARRIED FORWARD			(1&117&148)	(1,436,887)

	BALANCE SHEET 31MARCH 2023
		2023	2022
		Unrestricted	Total
		fund	funds
	Notes
FIXEDASSETS
Tangible assets	12	15490	9,572
Investments	13	23914/t1I	4,110,985
		2tt09,701	4,120,557
CURRENT ASSETS
Debtors	14	3523)69	256,480
Cash at bank and in hand		8893)74	1,355,715
		1341,143	1,612,195
CREDITORS
Amounts falling due within one year	15	(1420~)	(1,179,639)
NET CURRENT ASSETS		20,151	432,556
TOTAL ASSETSLESSCURRENT LIABILITIES		2,9293L52	4,553,113
PENSION LIABILITY	18	(4,047,000)	(5,990,000)
NET ASSETS/(LIABILITIES)		(1,117,148)	(1,436,887)
FUNDS	17
Unrestricted funds		(1,117,148)	(1,436,887)
TOTAL FUNDS		(1,117,148)	(1,436,887)

		FOR	THE YEAR ENDE	D 31MARCH 2023
			Notes	2023	2022f
Cash fiotrs from operating activities
Cash generated fium operations				(1,484,135)	(175,733)
Net cash used in operating	activities			(1,484,135)	(175,733)
Cash ilows from iavesting	activities
Purchase oftangible fixed assets Purchase offixed asset investments Saleoffixed asset investments				(11,468) (883,161) 1dt60,016	(5,370) (1,932,119) 1,912,723
Interest received				8,899	3,605
Dividends mceived				43v208	47,634
Net cash provided by investing activities				1,017,494	26,473
Change in cash and cash	equivalents	in the
reporting period				(466,641)	(149,260)
Cash and cash equivaleats	at the beginning of
the reporting period				1455,715	1,504,975
Cash nnd cash equivalents	atthe end	ofthe
reporting period				889,074	1,355,715

							2023	2022
							8
Net expenditum		for the reporting		period (asper the Statement	ofFinancial
Activities)							(584461)	(114,800)
Adjustments	for:
Depreciation	charges						5,750	5,199
Losses/(gain)	on investments						239,717	(105,650)
Interest received							(83)99)	(3,605)
Dividends received							(43408)	(47,634)
flncmase)/decrease			in debtors				(95,589)	130,595
Increase/(decrease)			in cmditors				41455	(104,838)
Difference between			pension charge	and cash contributions			(1,039,000)	65,000
Net cash used in		operations					(1,484,135)	(175,733)
ANALYSIS	OF	CHANGES IN NET FUNDS
					At	1.4.22	Cash flow	At31.3.23
						f	5
Net cash
Cash at bank	and	in	hand		1455,715		(466,641)	889,074
					1,355,715		(466,641)	889,074
Total					1355,715		(466,641)	889,074

Office furniture A equipment	25%on cost
Fixtures and fittings	20'/o on cost
Computer sofiwam	25%on cost
Computer hardware	25%on cost

	INCOME FROM CHA	RIT	ABLE	AC11VIT	IES
							2023	2022
				Activity			6
	Bibliographic databases-
	subscriptions			Educational	and trainmg		1,6233143	1,661,459
	Bibliographic databases	- PAYG		Educational	and training		43dt94	43,476
	Dictionary, thesaurus, bulletin		dt
	reports			Educational	and training		20,135	23,320
	IFISCollections			Educational	and training		896	30,040
	Gains/(losses) on exchange			Educational	and training		(7,850)	17,879
							1,680,918	1,776,174
6.	RAISING FUNDS
	Raisiag donations and	legacies
							2023	2022
							8
	Investment management	fees					16,928	26,759
7.	CHARITABLE ACTIVITIES COSTS
							Support
						Direct	costs (see
						Costs f	note 8) f	Totals
	Educational and training					2,006,666	53,975	2,060,641
S.	SUPPORT COSTS
								Governance
								costs
	Educational and training							53,975
9.	NKT INCOME/(EXPENDITURE)
	Net income/(expenditure)	is stated after charging/(crediting):
							2023	2022
							8
	Auditors' remuneration						7,008	6,768
	Depreciation - owned assets						5,750	5,199
	Cunency exchange (gains)/losses						(6rr39)	(53,219)

						2023	2022
						8	f.
	Travel and subsistence					26,205	155
	The number oftrustees to		whom expenses	were reimbursed	was	8(2022:1).
11.	STAFF COSTS
						2023	2022I
	Wages and salaries					647,755	661,739
	Social security costs					58,187	60,401
	Other pension costs					1436,615	238,723
						2,042457	960,863
	The average monthly	number ofemployees		during the year	was	as follows:
						2023	2022
	Advancement ofpublic education					15	15
	Support					2	2
						17	17
	The number ofemployees		whose employee	benefits (exduding		employer pension costs) exceeded f60,000was:
						2023	2022
	f60,001 - 670,000					I
	680,001 - 690,000

TANGIBLE FIXE	DASSETS
		Office	Fixtures
		furniture	and		Computer	Computer
		dt equipment f	fittings f		sofiware f	hardware f	Totals f
COST
At I April 2022		4,681	2314		2,438	44465	53,998
Additions					3,080	8388	11,468
Disposals			(958)		(2,438)	(SKI)	(12457)
At31 March 2023		4,681	Ir)56		3,080	43,992	53,109
DEPRECIATION
At I April 2022		4,681	1487		2,283	353)75	44,426
Charge for year				271	526	4,953	5,750
Eliminated on disposal			(958)		(2,438)	(8,961)	(12457)
At31 March 2023		4,681		900	371	3IW7	37,819
NETBOOK VALUE
At 31March 2023				456	2,709	12,125	15,290
At31March 2022				727	155	8,690	9,572
FIXEDASSETINVESTMENTS
			Shares in			Cash and
			group		Listed	settlements
			undertakings f		investments f	pending f	Totals f
MARKET VALUE
At I April 2022					3,424,431	686452	4,110,985
Additions					8!8,161		883,161
Disposals					(1,105,171)	(648,092)	(1,753,263)
Revaluations					(346,472)		(346,472)
At 31March 2023					2,855,949	38,460	2,894,411
NET BOOK VALUE
At31March 2023					2,855P49	38,460	2d)94,411
At 31March 2022					3,424,431	686,552	4,110,985
						2023	2022
							f
UK investment assets						1,602~5	1,977,884
Overseas investment	assets					1492,066	1,446,547
						23)94,41I	3,424,431

			Shares	in		Cash and
			group		Listed	settlements
			undertakings		investments	pending	Totals
			8		8		8
Valuation	in	2023			176v285		176385
Cost					2,679,664	38,460	2,718,126
				2	2,855,949	38,460	22)94,411

Registered o6ice: Gmund Hoor, 115Wharfedale Natme ofbusiness: Dormant	Registered o6ice: Gmund Hoor, 115Wharfedale Natme ofbusiness: Dormant	Road Winnemh, Wokingham, Ber	kshhu, England, RG41 5K	B
Class ofshare:		holding
Ordinary		100
			319.23	31.3.22
			8	f
Aggregate capital and reserves			2	2
DEBTORS:	AMOUNTS FALLING DUK WITHIN ONE YEAR
			2023	2022
			8	f
Trade debtors			233,438	121,269
Other debtors			9,016	9,303
Prepayments	and scorned income		109,615	125,908
			352,069	256,480
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2023	2022
			8
Trade creditors			75,237	135,308
Amounts owed to gmup undertakings			2	2
Other creditors			28,692	16,688
Accruals and	deferred income		1&117&061	1,027,641
			1,220 &)92	1,179,639

		2023	2022
			f
Balanoe	as at I April	946,904	1,117,439
Amounts	released to income	(946,904)	(1,117,439)
Amounts	deferred in the year	1,075,977	946,904
Balance	at31March	1,075,977	946,904

			2023	2022
			8	6
Between one	and five years		112,738	155,830
MOVKMKNT IN FUNDS
			Net
			movement	At
		At 1.4.22	in funds	31.3.23
			f	8
Unrestricted	funds
General fund		(1,436,887)	319,739	(1,117,148)
TOTAL FUNDS		(1,4363)87)	319,739	(1,117,148)

				Incoming	Resources	Gains and	Movement
				resources 6	expended f	lossesf	in funds f
Unrestricted	funds
General fund				1,733,025	(2,077W9)	664483	319,739
TOTAL FUNDS				1,733,025	(2,077,569)	664)283	319,739
Comparatives	for movement		in funds
						Net
						movement	At
					At 1.4.21	in funds	31.3.22
					6	f
Unrestricted	funds
General fund					(1360,087)	(176,800)	(1,436,887)
TOTAL FUNDS					(1,260,087)	(176,800)	(1,436,887)
Comparative	net movement	in	funds, included	in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources rs	expended 6	lossesf	in funds f
Unrestricted	funds
General fund				1,827,413	(2,047,863)	43,650	(176,800)
TOTAL FUNDS				1,827,413	(2,047,863)	43,650	(176,800)

		Defined	benefit
		pension	plass
		2023	2022
		f	I
Present value offunded obligations		(9,559,000)	(12,904,000)
Fair value ofplan assets		5,512,000	6,914,000
		(4,047,000)	(5,990,000)
Present value ofunfunded	obligations
Deficit		(4,047,000)	(5,990,000)
Net liability		(4,047,000)	(5,990,000)

The amounts	recognised in the Statement ofFinancial Activities	are as follows:
		Defined	benefit
		pension	plans
		2023	2022
		f.	I
Cument service cost
Net internet	fium net defined benefit
asset/liability		140,000	121,000
Past service	cost
		140,000	121,000
Actual return	on plan assets	(2,090,000)	239,000

Opening	defined benefit obligation
Interest	cost
Benefits	paid
Oblig other remeasurement

Defined	benefit
pension	plans
2023	2022f
12,904,000	13,016,000
329,000	261,000
(491,000)	(534,000)
(3,183,000)	161,000
9459,000	12,904,000

Changes	in t	he fair value ofscheme assets are as follows:
			Detined	benefit
			pension	plans
			2023	2022
				f
Opening	fair	value ofscheme assets	6314,000	7,153,000
Contributions		by employer	1,293,000	179,000
Pension	scheme expenses		(114,000)	(123,000)
Expected return			189,000	140,000
Actuarial	gains/(losses)		(2,279,000)	99,000
Benefits	paid		(491,000)	(534,000)
			5412,000	6,914,000

					Detined	benefit
					pension	plans
					2023	2022
						f
Oblig other remeasurement					3,183,000	(161,000)
Actuarial	gains/(losses)				(2479,000)	99,000
					904,000	(62,000)
The major categories ofscheme			assets as amounts oftotal scheme assets are as	follows:
					Defined	benefit
					pension	pleas
					2023	2022
						f
Fiduciary	portfolios				5,274,000	6,870,000
Cash/other					238,000	44,000
					5,512,080	6,914,000
Principal	actuarial	assumptions	at the Balance Sheet date (expressed as weighted	averages):
					2023	2022
Discount	rate				4 70o/o	2.60'/o
Future pension increases					320o/o	3.6(P/o

					FORTHE YEAR ENDED 31	MARCH 2023
						2023	2022
						6
INCOME AND ENDOWMENTS
Investment income
Dividends receivable						43,208	47,634
Internet receivable						8,899	3,605
						52,107	51,239
Charitable activities
Bibliographic databases		- subscttptions				1,623,843	1,661,459
Bibliographic databases		- PAYG				43,894	43,476
Dictionary, thesaurus,	bulletin			ds	reports	20,135	23,320
IFISCollections						896	30,040
Gains/(losses) on exchange						(7,850)	17,879
						1&680glg	1,776,174
Total incoming resources						1,733,025	1,827,413
EXPENDITURE
Raising donations and		legacies
Investment management			fees			16,928	26,759
Charitable activities
Salaries						629411	642,9$1
Social security						55,669	57,812
Pensions						1436&615	238,723
Other employment &tr outworker					costs	476,083	428,204
(Gains)/losses on defined			benefit		pension scheme	(1,039,000)	65,000
Production dt distribution						104,599	9$,019
New product development						173,260	243,136
Sales dt marketing						97,673	80,422
Premises costs						85,954	$2,46$
Office tk ITsystems						29,511	33,387
Travel dt subsistence						29,889	3,327
Meetings dt seminars						3,497	1,697
Legal and pmfessional		fees				12,682	28,607
Overheads						19,762	19,347
Other gains/losses on exchange						(14,789)	(35,340)
Depmciation oftangible		fixed		assets		5,750	5,199
						2,006,666	1,992,989
Support costs
Governance costs
Salaries						18444	1$,758
Social security						2418	2,5$9
Auditors' remuneration						7,008	6,768
Travel tk subsistenm						26,205
						53,975	28,115
Total resources expended						2,077869	2,047,$63
Net expenditure before			gains	and losses		(344~4)	(220,450)

2023	2022
(239,717)	105,650
(584361)	(114,800)