THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee)
REPORT AND UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2023
Company number: 03709481 Charity number: 1089537
THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION
(A company limited by guarantee) - Company number: 03709481
Contents
directors’ and Trustees’ Report ...................................................................................................... 1 Independent Examiner's Report .................................................................................................... 6 Statement of Financial Activities .................................................................................................... 7 Balance Sheet ................................................................................................................................. 9 Notes to the Accounts .................................................................................................................. 10
THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
DIRECTORS’ AND TRUSTEES’ REPORT FOR YEAR ENDED 31 DECEMBER 2023
The Executive Committee, the members of which are the directors and the trustees of The Staff and Educational Development Association (SEDA) the charitable company, present their report and the unaudited accounts for the year ended 31 December 2023.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charitable company.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published in October 2019.
Chairs’ report
SEDA continues to promote innovation and good practice in higher education. SEDA is seen by many as the shaper of thought and initiator of action in staff and educational development, not only in the UK but in the international domain also. In 2023 we celebrated our 30[th] birthday and highlighted SEDA’s place in the sector.
We have had another very active year, arranging our normal calendar of conferences and events, producing regular periodicals including our journal, magazine and blog; publishing books; accrediting courses at higher education institutions, and recognising achievements through our own Fellowship scheme; supporting communities of practice, and facilitating educational development projects overseas. In terms of finance, we have again recorded a net income, this is in large part due to continuing efforts to reduce costs and increase income.
Thanks are due to the various Committee Chairs, members of the Executive (trustees listed on page 3) and staff in the ACU for their work, good judgment, advice and cooperation during the past year.
Helen King & Clare Saunders, Co-Chairs
Aims and Activities
The primary objects of the charitable company are the advancement of education for the benefit of the public, particularly through the improvement of all aspects of learning, teaching and training in higher education through staff and educational development.
In shaping the charitable company’s objectives for the year and planning its activities the Trustees have considered the Charity Commission’s guidance on public benefit.
Review of Activities
In 2023 SEDA has continued to be influential in Higher Education and has further developed its work in the areas of research, online events, publications, professional development and membership services. Annual Reports of the Staff and Educational Development Association are available to download at: http://www.seda.ac.uk/about and give a detailed review of activities, together with details of SEDA's development and collaborative achievements and an exploration of its public benefit.
Achievements and Performance
SEDA continues to meet the needs of higher education in a time of considerable change and uncertainty in the sector - unrestricted income increased to £256K (2022: £210K) despite the sector facing a difficult financial situation.
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
DIRECTORS’ AND TRUSTEES’ REPORT - continued
Financial Review
The attached statement of accounts gives details of the 2023 income and expenditure and compares these with the 2022 accounts. Membership subscription income increased to £167K in 2023 (2022: £155K). Conferences income remained low largely due to the decision taken to primarily concentrate on online events rather than face to face conferences which are only now just recovering following the restriction placed on face-to-face gatherings as a result of COVID-19.
The net expenditure for the two journals (Innovations in Education and Teaching International and Educational Developments) reduced to £5K (2022: £15K). Income from SEDA’s publications increased slightly to £4.4K (2022: £0.6K), while costs also reduced to £2.4K (2022: £11K). This area of activity is subject to the same falling demand that faces all hard copy publishers. Production costs are under constant review. Professional development income was maintained at £21K (2022: £22K). With Professional Development costs remaining almost constant at £13K (2022: £14K). Both publications and professional development are essential to SEDA's overall membership provision and continue to be a valuable resource for the sector.
Restricted funds show expenditure in 2023 of £50K. Restricted funds now show a zero balance as ongoing schemes have now been completed.
In 2023 SEDA’s accounts show total net income of £47K. This compares to a total net income of £44K in 2022.
The Executive has met during the year to monitor SEDA’s income and expenditure and to advise and guide on management, financial and operational issues. All SEDA’s Committees continue to have important work to do to consider the costs of their activities and to advise on measures which can be taken to ensure SEDA continues to operate on a sound financial basis. Committees also ensure SEDA’s ‘products’ are relevant to the sector and are developed in conjunction with current HE developments.
SEDA has, throughout the year, continued to chase debts with vigour and this will continue in 2024.
Plans for the Future
It is crucial that SEDA maintains and continues to expand its membership base as this continues to provide the majority of its income. SEDA must ensure that its membership offer is enhanced, and work continues to meet this need. We continue to seek to reduce SEDA’s reliance on membership funding and explore opportunities to diversify its income. Conference Committee continues to review its operation to ensure its activities are appropriate, attractive, creative and necessary given current sector issues. Face-to-face events are to be reintroduced as we move forward. We will continue to support and extend funding for research in the field of educational development.
SEDA must continue the measures already in place to ensure activities are correctly costed and identify and strive for efficiency savings wherever possible and appropriate. It is important that during 2024 all SEDA Committees continue to ensure the cost effectiveness of their operations. SEDA must maintain strict financial controls and good housekeeping through all its activities. Every effort must be made to maximise income opportunities and Committees must take on the responsibility to evaluate the cost effectiveness of activities. SEDA continues to have a wide range of good, necessary and marketable ‘products’ that are in demand in the sector. It is the responsibility of all committee members to ensure that the quality of these ‘products’ is maintained and enhanced, and that marketing is put in place to ensure that they reach all of their potential markets.
Risk Management
Major risks have been reviewed and systems and procedures established to manage these risks, e.g. annual review of risk register.
The following key principles outline SEDA’s approach to risk management and internal control. That the Executive Committee:
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION
(A company limited by guarantee) - Company number: 03709481
DIRECTORS’ AND TRUSTEES’ REPORT - continued
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has responsibility for overseeing risk management within the company as a whole;
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has an open and receptive approach to solving risk problems;
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makes conservative and prudent recognition and disclosure of the financial and non-financial implications of risks, whilst recognising them; and
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identifies key risk indicators and closely monitors them on a regular basis.
SEDA maintains a Register of Risks, and this is assessed and updated annually. The key risks faced are the fast moving pace of developments in the Higher Education sector, the increasing reliance on membership income and the difficulty in communicating SEDA’s work and impact to the sector.
Reserves Policy and Going Concern Basis
During the year the trustees reviewed the Reserves Policy. Reserves are held to accommodate structural changes in SEDA’s activities – e.g. decline in income or investment for development of new activities. The trustees considered that a range between £175K and £225K is appropriate. This year’s net income increases SEDA’s unrestricted reserve and this now stands at £214K (2022: £139K), which is now within that range.
Rapid and decisive action has been taken throughout the year to reduce expenditure and control costs (e.g. postage, travel, printing and administrative costs). This has had some success, however, more work is required to further understand all costs and maximise income. Work has been carried out to ensure our membership offers are increased and attractive. We continue to review our membership offer to ensure we are still sector relevant. SEDA will continue to control its finances rigorously, which together with the reserves, our continuing attractiveness to external partners and a third year of financial surplus justifies the Trustees opinion that it is a going concern
Administration - structure, governance and management
| Charity name | The Staff and Educational Development Association |
|---|---|
| The charity is also known as SEDA. | |
| Charity Registration Number | 1089537 |
| Company Registration Number | 03709481 |
| Registered office | Woburn House, 20-24 Tavistock Square, London WC1H 9HF |
| Executive Committee | |
| Dr. David Baume (resigned 15/06/2023) | |
| John Bostock (resigned 15/06/2023) | |
| Dr. Charles Buckley (appointed 19/01/2023) | |
| Penny Burden (resigned 15/06/2023) | |
| Rachel Rusu | |
| Dr. Erika Corradini (appointed 15/06/2023) | |
| Ms. Vicky Davies | |
| Carole Davis (resigned 15/06/2023) | |
| Dr. Mary Fitzpatrick | |
| Prof. Helen King | |
| Dr. Gemma Mansi | |
| Dr. Giles Martin | |
| Prof. Willie McGuire | |
| Prof. Pamela Parker | |
| Ms. Jo Peat | |
| Mr. Stephen Powell (appointed 09/05/2023) | |
| Dr. Clare Power | |
| Mrs. Clare Saunders | |
| René Schegg (resigned 06/02/2024) | |
| Mr. Maurice Teasdale |
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION
(A company limited by guarantee) - Company number: 03709481
DIRECTORS’ AND TRUSTEES’ REPORT - continued
Dr. Rebecca Bilton Dr. Jennie Winter (appointed 19/01/2023) Prof. James Wisdom Prof. Gina Wisker
Company Secretary Professor James Wisdom
Independent Examiner Bankers Annie Lee NatWest plc PK Audit LLP Tavistock House Statutory Auditors Tavistock Square Chartered Accountants London WC1H 9XA
Organisation
The charity is governed by its Executive Committee which is responsible for formulating the strategies and policies of the charity including the approval of budgets and the annual accounts. The Committee delegates the day to day running of the charity to the Association of Commonwealth Universities (ACU) which provides administration services under contract.
Executive Committee
The members of the Executive Committee serving during the course of the year are listed above.
Professor Helen King and Dr Clare Saunders are Co-Chairs of the Executive Committee. The Executive Committee meets four times a year. One of those meetings is a two-day strategy and policy meeting.
As well as the Executive Committee, detailed above, there are the following sub-committees:
Publications – Papers Publications – Education Developments Professional Development Framework Conference and Events Scholarship & Research Fellowships
These sub-committees meet three to five times a year.
Recruitment and appointment of directors
Directors are appointed and resign in accordance with the Articles of Association. Directors are put forward for election at the AGM by the members. The initial period of membership of the Executive Committee is three years, followed by a two-year period after which time a Director must retire. Members select appropriate members for nomination based on their experience in their fields. New nominees tend to have been sub-committee members, which is effectively their induction process.
Governing document
The charity is constituted as a company limited by guarantee with charitable status, having no share capital. It is exempt from using the title “limited” under section 60 of the Companies Act 2006. It was registered with the Charity Commission on 28 November 2001. It is governed by its memorandum and articles of association and the policies made from time to time by the Executive Committee.
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
DIRECTORS’ AND TRUSTEES’ REPORT - continued
Statement of Directors Responsibilities
The directors (who are also trustees of The Staff and Educational Development Association for the purposes of charity law) are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepting Accounting Practice).
Company law requires the directors 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 of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing those financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The report of the directors has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
This report was approved by the Executive Committee on 3[rd] May 2024
M L Teasdale Director and trustee
Date: 3[rd] May 2024
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481 INDEPENDENT AUDITOR'S REPORT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION
I report to the trustees on my examination of the financial statements of The Staff and Educational Development Association (the Charity) for the year ended 31 December 2023.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of 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
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning 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 fair’ view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Annie Lee FCA ICAEW
PK Audit LLP Registered Auditors and Chartered Accountants
1 Parkshot Richmond Surrey TW9 2RD
Dated: 3[rd] May 2024
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating an income and expenditure account) Year ended 31 December 2023
| Note Income and endowments from Project Grants Charitable Activities: Membership IETI Educational Developments Publications Fellowships Courses Professional development Student awards Conferences and events Bank interest receivable Total income 2 Expenditure on Project activities Charitable Activities: Membership IETI Educational Developments Publications Fellowships Courses Professional development Research Student awards Conferences and events Governance Total expenditure 3 Total net income / (expenditure) for the year Funds brought forward from previous year Total funds carried forward |
Unrestricted Funds £ - 167,079 21,254 (28) 4,450 24,292 (315) 21,450 2,110 15,437 601 256,330 - 33,618 13,787 11,884 2,409 29,679 - 13,278 11,370 13,562 38,319 13,262 181,168 75,162 139,229 214,391 |
Restricted Funds £ 21,314 - - - - - - - - - - 21,314 49,607 - - - - - - - - - - - 49,607 (28,292) 28,292 - |
Total 2023 £ 21,314 167,079 21,254 (28) 4,450 24,292 (315) 21,450 2,110 15,437 601 277,644 49,607 33,618 13,787 11,884 2,409 29,679 - 13,278 11,370 13,562 38,319 13,262 230,775 46,869 167,522 214,391 |
Total 2022 £ 88,011 155,006 15,216 383 578 13,552 - 21,625 - 3,200 109 |
|---|---|---|---|---|
| 297,680 65,776 34,656 11,195 19,515 10,833 23,868 7,224 13,913 14,630 - 38,307 13,724 |
||||
| 253,641 44,039 123,483 |
||||
| 167,522 |
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
Page | 7
THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating an income and expenditure account) Year ended 31 December 2022
| Note Income and endowments from Project Grants Charitable Activities: Membership IETI Educational Developments Publications Fellowships Courses Professional development Research Conferences and events Donations Bank interest receivable Total income 2 Expenditure on Project activities Charitable Activities: Membership IETI Educational Developments Publications Fellowships Courses Professional development Research Conferences and events Governance Total expenditure 3 Total net income / (expenditure) for the year Funds brought forward from previous year Total funds carried forward |
Unrestricted Funds £ - 155,006 15,216 383 578 13,552 - 21,625 - 3,200 - 109 209,669 - 34,656 11,195 19,515 10,833 23,868 7,224 13,913 14,630 38,307 13,724 187,865 21,804 117,426 139,230 |
Restricted Funds £ 88,011 - - - - - - - - - - - 88,011 65,776 - - - - - - - - - - 65,776 22,235 6,057 28,292 |
Total 2022 £ 88,011 155,006 15,216 383 578 13,552 - 21,625 - 3,200 - 109 297,680 65,776 34,656 11,195 19,515 10,833 23,868 7,224 13,913 14,630 38,307 13,724 253,641 44,039 123,483 167,522 |
Total 2021 £ 52,554 157,807 14,436 559 1,013 5,556 4,670 25,570 - 11,680 1,500 5 |
|---|---|---|---|---|
| 275,349 77,108 37,165 9,573 19,298 11,416 22,987 10,848 14,117 12,962 45,089 13,153 |
||||
| 273,716 1,633 121,850 |
||||
| 123,483 |
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
BALANCE SHEET
AS AT 31 December 2023
| Note | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| Current assets | |||
| Debtors | 5 | 36,508 | 25,298 |
| Cash at bank and in hand | 207,562 | 192,550 | |
| 244,070 | 217,848 | ||
| Creditors:amounts falling due within one year | 6 | (29,679) | (50,326) |
| Total assets less current liabilities | 214,391 | 167,522 | |
| Reserves | |||
| Unrestricted funds | 214,391 | 139,230 | |
| Restricted funds | 7 | - | 28,292 |
| Total charity funds | 8 | 214,391 | 167,522 |
For the year ending 31 December 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The notes at pages 10 to 15 form part of these accounts.
Approved by the Executive Committee 3[rd] May 2024 and signed on its behalf by
M L Teasdale Director and trustee
Date: 3[rd] May 2024
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION
(A company limited by guarantee) - Company number: 03709481
NOTES TO THE ACCOUNTS
1. Accounting policies
Staff and Educational Development Association is a Charity and a private limited company by guarantee. It is incorporated in England and Wales. The registered office is 20-24 Tavistock Square, London WC1H 9HF.
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
1.1 Accounting convention
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include financial instruments at fair value. The principal accounting policies adopted are set out below.
The charitable company 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.
1.2 Preparation of the accounts on a going concern basis
The Trustees consider that there are no material uncertainties regarding the charitable company’s ability to continue as a going concern. After considering future plans, budgets, cash and reserve levels as well as the risks and uncertainties, the trustees have a reasonable expectation that the company has adequate resources and facilities in place to continue its activities for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements.
1.3 Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.4 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments and section 12 ‘Other Financial Instrument Issues of FRS102 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.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
1.5 Income recognition policies
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
NOTES TO THE ACCOUNTS
Grant and other income is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant or other income have been met or are fully within the control of the charity, it is probable that the income will be received and the amount can be measured reliably. Grant income is not deferred.
1.6 Expenditure recognition
Expenditure is recognised on an accruals basis as a liability is incurred. Where amounts are unknown, estimates are based on past experience.
Charitable expenditure includes expenditure associated with the delivery of activities meeting charitable objects and comprises both the direct costs and support costs relating to these activities.
Governance costs include those costs associated with the governance of the charitable company and include audit / independent examination fees and costs limited to the strategic management of the charitable company.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity comprise both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.7 VAT
Irrecoverable input VAT is included in expenditure on the basis of the costs to which it relates.
1.8 Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.9 Foreign Exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the time of the transaction. Gains and losses arising on translation are included in the statement of financial activities for the period.
2. Income
All income was derived from the main objectives of the charitable company - namely, the advancement of education for the benefit of the public, particularly through the improvement of all aspects of learning, teaching and training in higher education through staff and educational development.
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
NOTES TO THE ACCOUNTS
3. Total Expenditure
| 2023 Venue hire & associated costs Printing and Design Publication costs Other costs Support costs Total unrestricted charitable costs Restricted project Total 2022 Venue hire & associated costs Printing and Design Publication costs Other costs Support costs Total unrestricted charitable costs Restricted project Total |
Membership IETI Educational Developments Publications Fellowships Professional Development Research Students Awards Conferences & Events Governance £ £ £ £ £ £ £ £ £ £ - - - - - - - - 10,607 - - - 2,505 - - - - - - - 9,520 11,378 3,355 - 252 - - - - - - - - - 13,763 3,640 1,732 3,924 - - 24,098 2,409 6,024 2,409 15,664 9,638 9,638 9,638 27,712 13,262 |
Total £ 10,607 2,505 24,505 23,059 120,492 |
|
|---|---|---|---|
| 33,618 13,787 11,884 2,409 29,679 13,278 11,370 13,562 38,319 13,262 |
181,168 49,607 230,775 |
||
| Membership IETI Educational Developments Publications Fellowships Courses Professional Development Research Conferences & Events Governance £ £ £ £ £ £ £ £ £ £ - - - - - - - - 5,805 - - - 1,775 - - - - - - - 14,433 9,029 3,296 - - - - - - - - - - - 2,200 - 3,080 3,797 - - 20,223 2,166 14,444 10,833 21,668 7,224 10,833 10,833 32,502 13,724 |
|||
| Total £ 5,805 1,775 26,758 9,077 144,450 187,865 65,776 253,641 |
|||
| 34,656 11,195 19,515 10,833 23,868 7,224 13,913 14,630 38,307 13,724 |
|||
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
NOTES TO THE ACCOUNTS
Support Costs
| Administration service Governance Legal & professional Other costs |
2023 £ 92,528 13,262 1,659 13,043 120,492 |
2022 £ 111,926 13,724 2,596 16,204 |
|---|---|---|
| 144,450 |
Support costs are allocated to the different activities on a percentage basis based on an estimate of time spent.
The independent examiners fee amounts to £4,950 (2022: £nil).
Restricted Project Costs
| oject Costs | ||
|---|---|---|
| Erasmus 20-23 PEBL - West Africa PEBL West Africa Course |
2023 £ 13,185 26,746 9,675 49,607 |
2022 £ 5,553 57,898 2,325 |
| 65,776 |
4. Trustees
There were no employees during the year (2022: Nil).
No member of the Executive Committee received any emoluments for being a trustee in the period (2022: £Nil).
1 member of the Executive Committee received £259 in reimbursement of expenses incurred during the period (2022: £1,542).
During the year members of the Executive Committee were paid for consultancy or tutorial services as follows:
-
Payments relating to externally funded projects – Vicky Davis £4,235 (2022: £2,201).
-
Payments for work to support ongoing SEDA activities – Vicky Davis £840 (2022: £420); Carole Davis £3,838 (2022: £100); Rene Schegg £280 (2022: £435); John Bostock £100 (2022: £nil); Rachel Rusu £300 (2022: £nil); William McGuire £230 (2022: £nil); Clare Power £100 (2022: £nil); Clare Saunders £259 (2022: £nil)
These sums were at arm’s length and approved by the other members of the Executive Committee.
5. Debtors
| Trade debtors Accrued income Prepayments |
2023 £ 26,160 8,191 2,157 36,508 |
2022 £ 10,864 12,567 1,867 |
|---|---|---|
| 25,298 |
Page | 13
THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION (A company limited by guarantee) - Company number: 03709481
NOTES TO THE ACCOUNTS
6. Creditors: amounts falling due within one-year
| Trade creditors Subscriptions received in advance Deferred income Accruals |
2023 £ 11,670 465 5,529 12,015 29,679 |
2022 £ 18,204 3,774 14,124 14,224 |
|---|---|---|
| 50,326 |
7. Restricted Fund’s Reconciliation
| 2023 Erasmus 20-23 PEBL - West Africa PEBL West Africa Course Total funds 2022 Erasmus 20-23 PEBL - West Africa PEBL West Africa Course Total funds |
Fund balances 1 Jan 2023 Income Expenditure Fund balances 31 Dec 2023 £ £ £ £ 4,897 8,288 13,185 - 13,720 13,026 26,746 - 9,675 - 9,675 - |
|---|---|
| 28,292 21,314 49,607 - |
|
| Fund balances 1 Jan 2022 Income Expenditure Fund balances 31 Dec 2022 £ £ £ £ 4,558 5,892 5,553 4,897 1,499 70,119 57,898 13,720 12,000 2,325 9,675 |
|
| 6,057 88,011 65,776 28,292 |
8. Analysis of net assets between funds
| 2023 Debtors Cash Creditors 2022 Debtors Cash Creditors |
Unrestricted funds £ 28,317 207,562 (29,679) 214,391 Unrestricted funds £ 25,298 156,918 (42,987) 139,230 |
Restricted funds £ 8,191 - (8,191) - Restricted funds £ - 35,631 (7,339) 28,292 |
Total £ 36,508 207,562 (29,679) |
|---|---|---|---|
| 214,391 | |||
| Total £ 25,298 192,550 (50,326) |
|||
| 167,522 |
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THE STAFF AND EDUCATIONAL DEVELOPMENT ASSOCIATION
(A company limited by guarantee) - Company number: 03709481
NOTES TO THE ACCOUNTS
9. Capital and financial commitments
Capital expenditure contracted for but not provided in the accounts is £Nil (2022: £Nil).
At 31 December 2023, the charitable company had non-cancellable financial commitments in respect of administrative services as follows:
| 2023 | 2022 | |||
|---|---|---|---|---|
| Expiring within | 1 | year (January – December) | 139,505 | 134,140 |
10. Members
The charity is incorporated as a company limited by guarantee having no share capital. In accordance with the Memorandum of Association every member is liable to contribute a sum of £1 in the event of the company being wound up while he/she is a member or within one year afterwards.
11. Related Parties
Details of related party transactions are disclosed in Note 4 above.
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