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2021-12-31-accounts

Charity Registration No. 1087973

Company Registration No. 04127150 (England and Wales)

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P G Alston
R Dehousse
P M R J C Dupuy
B E Simma
J H H Weiler
Professor S M H Nouwen (Appointed 1 April 2022)
Secretary P G Alston
Charity number 1087973
Company number 04127150
Principal address Law School
New York University
40 Washington Square
New York
USA
NY 10012-1099
Registered office 264 Banbury Road
Oxford
OX2 7DY
Independent examiner Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
Bankers The Co-Operative Bank
Kings Valley
Yew Street
Stockport
Cheshire
SK4 2JU

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 10

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's memorandum and articles of association , the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objects of the charity are to advance education in the field of international law by making grants towards charitable activities connected with scholarship, by the publication and dissemination of academic journals for the benefit of the public and by such other exclusively charitable means as the board shall in their absolute discretion determine.

Achievements and performance

During the year the company received annual royalty income. The next year should see the continued receipt of royalty income with little expenditure in order to build up the company’s capital. The journal continued to encourage and facilitate active discussion of key issues concerning international law and global governance and maintained its position as perhaps the leading journal in its field.

Financial review

As stated above, the charity's reserves policy is to build up the capital by incurring minimal expenditure costs.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The European Journal of International Law Limited is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Charity number: 1087973. Company number: 4127150. The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £1.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P G Alston

R Dehousse P M R J C Dupuy B E Simma J H H Weiler Professor S M H Nouwen (Appointed 1 April 2022)

Public Benefit

The charity's published journals in the European Journal of International Law are available to the general public, and as such this qualifies as a public benefit.

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Supplier payment policy

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

Trade creditors of the company at the year end were equivalent to 0 day's purchases, based on the average daily amount invoiced by suppliers during the year.

The trustees' r eport was approved by the Board of Trustees.

P G Alston

Trustee

4 July 2022

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees, who are also the directors of The European Journal of International Law for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

I report to the trustees on my examination of the financial statements of The European Journal of International Law (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited Chartered Certified Accountants 264 Banbury Road Oxford OX2 7DY

Dated: 5 July 2022

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Unrestricted
funds
funds
2021
2020
Notes
£
£
Income and endowments from:
Activities for generating funds 3 81,106
77,285
Expenditure on:
Charitable activities 4 73,106
44,802
Net income for the year/
Net incoming resources 8,000
32,483
Other recognised gains and losses
Other gains or losses 7 1,629
(1,810)
Net movement in funds 9,629
30,673
Fund balances at 1 January 2021 471,597
440,924
Fund balances at 31 December 2021 481,226
471,597

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

All income and expenditure is of an unrestricted nature.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2021
£
59,942
422,047
481,989
(1,400)		 £
637
480,589
481,226
481,226
481,226		 2020
£
79,798
391,728
471,526
(1,000)		 £
1,071
470,526
471,597
471,597
471,597

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 4 July 2022

P G Alston Trustee

Company registration number 04127150

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

The European Journal of International Law Limited is a company limited by guarantee incorporated in England and Wales, and a registered charity governed by its memorandum and articles of association. The registered office is 264 Banbury Road, Oxford, OX2 7DY.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Funds held by the charity are all of an unrestricted general nature which can be used in accordance with the charitable objectives at the discretion of the trustees.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total 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 attributable to a single activity 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 are allocated on the portion of the asset’s use.

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT which cannot be recovered.

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.6 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:

Fixtures, fittings & equipment 25% Straight line Computers 25% Straight line

1.7 Cash and cash equivalents

Cash and cash equivalents 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.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Foreign exchange

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 Activities for generating funds

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Royalties 33,204 37,654
Office Recharges 47,902 39,631
81,106 77,285

4 Charitable activities

Charitable
Charitable
expenditure
expenditure
2021
2020
£
£
Depreciation and impairment 435
372
Book Editing Costs 64,045
29,634
EJIL: Talk! Blog Expenses 6,317
9,539
Meeting Expenses 184
41
Computer and Website Costs 435
3,744
Sundry Costs -
200
Examiners remuneration 1,690
1,272
73,106
44,802
73,106
44,802

5 Trustees

There were no expenses reimbursed to trustees in the year (20 20 : £Nil).

6 Employees

There were no employees during the year (20 20 : Nil).

2021 2020
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

THE EUROPEAN JOURNAL OF INTERNATIONAL LAW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Other gains or losses

7 Other gains or losses
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Foreign exchange (gains)/losses (1,629)
1,810
8 Tangible fixed assets
Fixtures, Computers Total
fittings &
equipment
£ £ £
Cost
At 1 January 2021 540 1,740 2,280
At 31 December 2021 540 1,740 2,280
Depreciation and impairment
At 1 January 2021 540 668 1,208
Depreciation charged in the year - 435 435
At 31 December 2021 540 1,103 1,643
Carrying amount
At 31 December 2021 - 637 637
At 31 December 2020 - 1,071 1,071
9 Debtors
2021 2020
Amounts falling due within one year: £ £
Other debtors 59,942 79,798
10 Creditors: amounts falling due within one year
2021 2020
£ £
Other creditors 1,400 1,000

11 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .