REGISTERED COMPANY NUMBER: 0SB68337 (England and Wale$l RÉGISTERED CHARITY NUMBER.. 1117999 Rgport of the Truste08 and Unaudltgd Flnanclal Statements for thg Yoar Ended 31 Dgcelnber 2023 for THE BRITISH ACADEMY OF MANAGEMENT LIME0
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Contènts of the Financlal Statements for the Year Ended 31 December 2023 Page Reference and Admlnislrativ9 Deta118 Report of the Trustees 2 to 13 Independent Examlnerfs Report 14 statement of Flnan¢ial Activltles 15 Balance Sheet 16 to 17 Cash Flow Statem¢nt 18 Notes to thè Cash Flow Statement 19 Notes to the Financlal Statements 20 10 30
THE BRITISH ACADEMY OF MANAGEMENT LIMrrED Refgrenco and Admlnistrallve Dotalls for the Ygar Endod 31 December 2023 TRUSTEES ProfesBor K Mason IPre8ld8nti Dr N Pyper (reelgned 16.S.231 Professor S P Papaglannldi8 {re51gned 31.12.231 Profassor M A èi Professor F Deckor Professor E L Parry (Ghair) Dr R J Glennon DrA J B Robert8 Dr K E Black Professor P Budhwar Professor D B Sgrpong Dr C D Thornton (Treasurer) Professor K J Bebblngton Professor S K Rcbln50n1gppolntsd 1.1.23) Professor Z J Morri8on (apnted 1.1.241 REGk8TERED OFFICE Flve KThig$ Hou$0 Q'uèen Street Pl8C8 London RC4R IQS REG5STERED COPIJPANY NUMBER 869337 (England and Wales) REGISTERED CHARITY NUMBER 1117999 INDEPENDENT EXAMINER Knox Cropper LLP Chgrlered Accounlanlg 65 Leadenhall Slreat London EC3A 2AD CHIEF EXECUTIVE Mad81elne E C BarioWS INVESTMENT MANAGERS Rathbone Investment M8nagemenl 8 Flnsbury Clrcus London EC2M 7AZ The Co-op6rallve B8nk p.l.¢. P,0, Box 101 1 Balloon Slr8el ManGhe8t8r M60 4EP Pagè 1
THE BRITISH ACADEMY OF MANAGEPIJENT LIMITED Report of thg Trustee$ for tho Year Ended 31 Deoemb•r 2023 Th8 trustaes who are a150 dlredors of the charlty for the purposes of the Comp8nlo8 Act 2008, prgsenl Ihelr report wllh the fintIal Ètal&men18 of th8 charlly lor the year ended 31 December 2023. The Irustogs have adopted the prov151on5 of Accounllro and R¢porting by Charities= Slatemenl of ReGommeThled Praeltce applloable lo charilles preparlng Ihelr accounts In acwrdaneè wllh the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 102} (effectlve 1 January 20191. OBJECTIVES AND ACTIVITIES Oble¢tlvas and alms The Brilloh Academy of M?n8g9menl {BAM l The k8d8my> Is the leading avthorlty In the academle flehd of managomanl in the UK, supportlng 8nd rèprè$8nllng 8 dlv8r88 communlly of scholars, gngagin9 th intsrnatlonal peers. 11 cble¢l$ are lo advance educallon In the dlsclplines of buslness and managBment lor th6 publlc ben811 and kn partlcular.. -lo promole an Intei8¢1p1In8ry programme of re888rch and collaborollon to prOde Bn knlegralEd body of knowledga and to 88rv8 a8 an Inler-dlsclpllnary forum for Ihose engaged In 8n academlc examination of all typ85 of organi8aln and monwJgment sttKlles'. -to further the developfflenl ol educatton for both manaoers 8nd StJen1B of organl$allonB In the Un*ed KIngd., -to promDle the interests of management and buslness researGh In reWon lo outslde bodleB Indudlng fvndlng agencles arKI other learned sc¢i8lles -to Pfovide $8rvkes to memb8rs, which indud¢ Iralnlng. nOrkIng and r9e1 development through the life ¢our¥o. As such It alms to prod6 a welcomlng and $upportlv¢, pluralistic uommLtnly of sthlar8hlp In the full flekj of managemgnl. P8ge 2
THE BRrrisH ACADEMY OF MANAGEMENY LIMITED Report of tho TTU8to forthe Year Endad 31 Docembor 2023 OBJECTIVES AND ACTIVITIES Slgnlfl¢ant actfvitlgs The Brllish Académy of Managemgnt'8 prfndpal 8¢tlvKy 18 lo support and represent Ihg community of men8gemenl academlcs and pmrnole the development of managemgnl research and sGholarshlp wilhln the Unlled Klngdom and internationally. The Acadamy 18 engaged in development of capacity for publk good, offerB signllicanl 6UPPOrt to dc¢toral stud1$, and ohrs a $8rvl¢e to 8nable buslngS$ and managgmenl a¢ad¢mlcs lo pgrfom better. Addltionally, th6 Academy seeks to prom¢l¢ the expert know18dge and skllls held withln its membershlp. and Fellowshlp in particular. for tho publb good, Informlng pofjcy and knpaGting tho capabiliti85 01 th088 S88klng lo drive 8c¢10-nDMlc w¢llbglDg. In accordance th Its Gh¥ril8bl8 purpose, the Academy's •cllvttl&s durlng tha #r Included; - Runnlng A¢4dgmy workshops for res¢ar¢h, copacity building and praoilcelpollcy engag8m9nl', Runnlng wurkshops lor Sp181 Interest Group8-, - Organl$ing and hosting the Academy's annual conlerence., - Organising and hosting a doctoral symposium for PhD sttJdenlB: - Organlslng and hoBting dovelopm6nl progranNnos for Dlreclorg of Rearch and Leadèrs of Engaggmenl.. Organl$lng awj hosllng d?vebpmgnt progr8mmes for teachlng-focu8ed #nd re8aarch-focu8ed mi&car8er acad8mics-, Runnlng a Peer RjeW Co116g8 lo bulld revlewlng cBpa¢lly and sklll5', Pub116hlng fleld-loadlng scholarfy journals and a book serles on the Impact of bu3ines8 & management resgarch., Promollng the flndlngs of ac8d8mtc research lo poll¢ymaker8 and the W¥r publlc: Conlribullng inslghts and 8vld8n¢e from our GOmmun¥ lo pollcyrnak8rs'. Offerlng raB88rch grants: - Collabomllng with slster bodl&s to Inrlease opportunities In ordorlo furthèr our ¢h8ri1able purposa. Th8 broad rBnge and scope of Academy'$ 8¢llvM1è8 helps Bludents, TgSeorchers and academkg 10 showGa8$ Ihelr resear¢h and d9v8lop r8sBarch Idea$ through dI5CUs¥iDn feèdback from peers and more experlenced colleagu8s. In setting our progtammo each year w8 have regard lo the Charliy Cemmls51on's general guldanco on publlc benefll. The Tru818es always ensure that thè programmes we und8rtake are In Ilne wlth our charflable object5 and alms. Page 3
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Roport of the Trustees for tho Ypar Ended 31 December 2023 STRATEGIC REPORT Achlgvement and performance Introdu¢tlon and sumrnary 2023 opened wtth a new Chalr, Presld8nl and Treasurer. Professtr Emma Parry was elected as Chair to servo fw 2023 and 2024. Prole5sor Katy Mason had slepped down as Chalr at Ihg end of 2022 8nd had been el8cl8d 10 88rve 88 Presklenl for 2023 and 2024. Dr Charles Thornton was appolnted by the Execullv9 a8 BAM'9 Treasurer for o five-year lam from January 2023. and Prof8ssor Sarah RoLln80n su(eded Emma Parry as co Vlc8.Chair for Academlc Affairs of Conferenc$ and Capacily BuSldlng. Atthough wo had emerged from the acute diU1@S rèsuiilng from the Covkl-19 pand¢mk, the financlal envlronmant continued and continues to be - very challenglng for Hlgher Educ8llon, arwj for 18arnad $oc1811es ps a result. IrKIu81rlal 8Ctlon in early 2023 dlsrupled some ol our planngd acllvllles, severely slrallengd universlly lin8nces hava conllnued to reduea academlcs, abillly lo a¢¢e58 fundlng lo pay for our development programme3, confer8n¢e 8nd evanls, and th¢ drfve to (¥Jèn 88$ publl8hlng ha8 reslrlGte our ablllty lo grow Income from scholarty P(lIshIng. Ngverthebss, our communlly15 ftourf8hlng. Over Ihe last 18 M(th$, the BAM membershlp has conttnued lo grow In slze and geographkal spread, e¢hIng over 2500 for tho flrsl Ilm$ In 2024, wllh 45'A of our mèmbers now based oulsld8 the UK. IN6 have conllnu8d our strategy of ¢omlng through re¢ent hlghly turbulent years wllh mlnlmal damgge lo our oornmunily and have $u¢xa8sfully buift our In¢om¢ and controlled co818 80 that wgre able lo rgach a naar breakovttn outturn at the end of 2D23. IoMe divei$lficatlon and growth conllnua to b8 priorlti08 In 2024, but we are carelul to balBnce Ih? naed fcr a sustalnable lknancfal future lor BAM wrth the lknancial con8trainls faCg our mamber8. Strategy The ngw badershlp team initl8led a revi8w of tha BAM2020-2024 stratagy and dev$lopmenl of 8Liccessor, BAM2024-2028, dwing 2023. Despite the earller 8lPl¢gy belng launch8d just 85 the pandgmlc hll, nearfy all of Its oblecllves had b88n achleved.. only Ihe tBrg811o double the membershlp had be8n mlssetj, bul w& wer& fortun*e to have malnlalned our mambershlp leve19 durfng a very dIfful1 pgriod. 85 a rasvll ol target1 Stratag aCon5. Dev8loprnBnl of the new stralwgy bogan w(Ih a fo¢u$8d Execuilvg awayday In February, whlch was followed by dl$¢ussK)ns with Council, the BAM Fellow5 College and SIG Chalrg through the year. The proposed headllnè 8trat&gk prlorili83 were Blso shared al Conference and wllh the onllne AGM In Septernbgr, to maximlse rnernber con5ultalbn, bolor8 hing Ilnolisgd by Ihg Execu15ve and publlsh¢d al the end of Ihg yesr. A follow-up Executive slralegy awayday In February 2024, invofvlng the BAM offl¢e team, explo Impbmenlallon. The new ¥lratsgy aim5 ID svpport the ¢reallon of suslalnabb fulu¥e5 lor BAM, lor business 8nd management acadana and for our planet. through BAM'S activIas. It acknowledgbs three otwjolng prlorllle8'. to promote excellen in researth, educ81ion and scl)01g1shlp through our annual conforgncF, loum&l8, hooks and 8peclal Interest groups- - io support and devèbp $¢holarg acros9 tho whole acadomlo Gareer. through eapaclty bulldlrKJ ¥ctIlIes.. lo pmvidg advocacy and con8ullallon In relatlon lo tho development of effBCIl pollcy and pracllce wfthln thè sector. Flvo new 8lraloglc prforllle8 wor8 idenllfied as wer8 five 8UPPOrtlng prlorttles. Wè will.. - facllltale the Impact of buslno85 Bnd management r686arch on practice and pollcy., - ¥upport ihe sector In addre88lng the challbnges brought by artilida inlelllgance and dlglllsatDn', promole wellbolng and p08111ve monto1 health in bu¥iness management acad8mlcs snd toral rosoarchgrs; SUPPOrt tho devek)pmgnl of good Equalliy, DIVer8Y, Inclu61vlty and Resp1 (EDIRI pra¢tkè across Ihe Sector., - ensure sustainabilly18 Cantr to all BAM'S a¢lfvlllas. To support Iheso new slraleglc prforfiies. we will., - double BAM'S membeishlp by 2028; Pag8 4
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Rgport of the Trustees for the Year Ended 31 Docember 2023 - str6ngih8n 8xisliig partnershlpg, and create naw p8v1ThehlP9, wllh ?th nat(onal and Internallonal bodb5- - engage Coundl, Fell¢Jws, CompanvJns and SIG leadershlp a5 key èk8m8nts of the BAM comrnunlly. in Ilne with our 8tralegk prlorllle8: revlew the a¢tlvill¢s of 8AM lo ensure Iholr long-l&rm future su$tslnablltty,' d$velop more effectlve w8y8 of &ngaging with our Inl&rnal and Wernal communllles. Wg are a vl)mnl 4nd energellc, Internauonal communilyi and we want tc slay that way. So, we have focuB8d on crealin9 a vlslon thal18 aGhIeVab yel amblliou8. and whlch Is flm5y grounded In our core valu88 and ciur ml$sion lo enablo the busln8ss and managemont echolarty community lo mthe a po8511va contrlbuuon lo th8 worfd. BAM Is already a sp8¢8 for every academk In Qur field lo grow and flourlsh. Now we $88k to Irse the Impact of our sector on pracllce and policy and to support It In addressSng the challenges that 11 1$ faclng In rolallon to 8spect3 such a8 lacully wallbeing 8nd Ihp growth of artrficlal InlelllgonGe. Th18 18 an ambltbu$ 51ralegy that must bg bulll M sound foundallon8, SD we hBv8 Careful Integrated Yupportlng prforflles that wlll enable u8 to maSntain whal we have ¢fealed so far and aGhteve the suslalnalle lulure to whkh we asp1. PwJe 5
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of th& Truste88 for Iho Year Ended 31 Decembor 2D23 STRATeGIC REPORT AGhievement and pprfoTmollCg Suppordng the scholarly communlty Communltlgs Our 24 SpeGlal Interest Groupj and two netWOTks were loln8d by a new crog$•cuttlng Nehvork for Earfy Career Ac8d8mic8. Th85¢ rnember-d groups hav& been very aollv8. In 2023, Ihay staged over 50 events. ranglng In 8cale from onlin8 drcp-ln sg58ions and small workshops to symposia and confèTences, and In 8ddlllon lo B large number ol other work8hops, maslerclasse$ and programmes organl88d cenlrally. Tho &n8rgy cenllnues into 2024. Wo conllnue to focu8 on 8UPPUtlng leadgrshlp within Ihls communfty wllh regulw awayday$ for the SIG ond Nglwork Ghalrs. Our BAM Falk)ws Coll8ge was abty léd by Professor Sue Vlnnl¢omb6 OBE, who stepped down by rotatlon al the end of 2023, aftor yeerB leadlng Ihv Colloge. Sho has been succeeded by Profeswr Ftona Wilson 89 Op8n, gnd Professor Savvas Pwaglannidls was elected as the now VIGe-DeaD of Felows, Both wlll serve for 2024 and 2025. The Felbws Coll@g8 has continued lo 8uppcwt the BAM communtty, wlth new re3earch on rac8 and gender In 8enlor academlc Careers, ané tho new annual serf98 of onllne BAM Fellows Maslercla88e8 has prpv8d very popular. Capaclty bulldlng Our Peer Review Coll8g8 IPRCI remilled third cohort In 2023, We were very 9raleful that the f¢undlng PRC Dean, Prof8ssor Yehuda BaruGh FBAM, ?greed lo stay on for a taurth year and ConnUe hi5 development of thi$ inof8aslngty Important communily. In 2024, w8 have gppobntgd a fourth cohort of PR Follows and Members, and Prolgssor Dermot Breslln FBAM has be&n appolnted as Deputy Dean to succeed Profe88or Baruch from 2025. The PRC has 51aged free training workshops on revlewing and also provlded a PODI ¢f hlgh quallly ravlewÈrs to 8UPPOrt our lournal8, grant-niaklng aBlivty and Conf¢rgn¢e. We are very or81ul to all PRC Fellows and Mémbers for Ihelr work. Our sulle of profeBsitsnal dovglopmenl programmes conunueil lo grow and become e81ab118hed, wtlh growing popularKy for our mid-oare8r prc4Jrammes (BemIng a Research-orienlad Prof888or and Becoming an Educallon-fooused Prefe$8orl, and our senior programm99, both Ihe long-e8tabllshed D8velopm8nl Proyramme for Dlre¢lors of Re8ear¢h and tha new Development Programme for Leaders of EngagemgnL Programme¥ supportln9 Other palhs and re¥r $tag¢$ are In development. Our educa150n.foGused m•rnb8rs al80 eng990 wllh Ihs BAM MKE Tea¢hlng Practlce ¢onferenGe wlth incre8¥ing ènlhuslosm. New onllne drO1n 'Docloral Friday. sasslonB, plus work8hop8 on revlewlng and publlshlng. $upport our egrllor caroer mwnbers. Confgronce Our 37th Annual Conference was hosted by the Unlverslty of Su55ex Buslne88 School and was hald in hybrtd f¢rmal. It wa8 our k7rgesl ever, wllh 1107 delegates frcwn 394 iisllluuons In 53 Countries presenllng 583 papèrs lof 1221 submlllodl. The virtual day of papèr sessions. PDWS and keynote pan81$ enabled engagemanl by many 8chDlars, who would otherwlse hav$ been unoble lo present I1r reBeard) or18ke part In workshops, wh¢lher for reagons of dlgabillty, funding. oaTe re8ponslbllllles or vtsa probbms. Thls ban8f118 everyon8 80 we conllnue to embed a fvll virtual 8xpgrienc8 wSthln our annual conferenc8 In Ilna wllh our values of EDIR 8nd sustainabllity. For the fir31 lima. we sd out of In-per80n Ilck@18. A fast-growing confgrence has, how8ver, rgsuled In an Increaslngly packed agenda. Reflecllng our ¢ommllm8nl lo w8llbelng, we are addlng an &dillonal half day to the in-persc abmenl of the 2024 conferer9 lo allow a b mlxe'breathing sp8Ge' In the Pfogramme. PwJe6
THE BRITISH AGADEMY OF MANAGEMENT LIMITED Roport of th• Tru$t••s for the Yaar Ended 31 December 2023 STRATEGIC REPORT Achl8v8ment and porfornmnc PubllGaÉlons Ovrloum5 - Brftlsh Jcmjmal of M8nagemenl and InlernalknnBI Joumal of Management Revlew8 - conlthue to be lisled in the lop quartllos in Buslnesg and Managernenl. In 2023 we wmp161od the previous publishing partner8hlp agreement wllh Vmley and welcomed the riow one Irom January 2024. gknng the bu$knes8 an m8nagem8nt research community 8 conllnued guarantee of excellnt, values.led pubWGatton¥. Usgge has contlnued to grow wllh a $t98p increase Sn submlsslons. In 2023 our lournalB recelved 1,600 submIlon$ between Ihem (a 10% Increase on 20221, YAlh 8ln081 1.5 mlllSon full text vlow8, end inllial figur88 from 2024 Indtcale Ihal growth ContInu wllh subml$8lons up a further 41% and usag8 up a further 16% al Imne of wrlling. Milsl 11 is good 10 8e& our lourna1s are popular. handllng ever more submlsslcms necess118t68 continued expansion of the odltorlal ieam, In the faco of d8ollnlng revenue frorn publishlng this com06 al an IrreaBed cost, gnd we hav9 been ralsSng this uninlended consequgnGe lor le8rned 80ciety publlshers In broader megling5 pertalnlng to thp movè lo OA for scholarfy publishlng. Ws aw imm6n981y graleful lo our highly dedlcated Ediiors In Ghief and Assoclate Edltors for all Ihelr work lo keep ourlournals amongsl the top In the worfd. We have $8id a sad farewell lo our Asso¢Sate Edllor for Communication8, Professor George Fryna$, who8e work ha8 been important kn ralsing the publlG profil8 of the pub118hed In ourloumal8. Our book sedes with Taybr & Fran¢l$ on the Imp8Gt of Managgm9nt R•88arch pubs1d Ks fourth volume - Impact in Doctoral Edu¢ollon In earfy 2024. Work has conllnued during 2023 2024 on a fhrnIng BAM.Ethrd Eluar hand0k on Indusivo teachlng &18aming. Grants In 2(Y23 we ran our blennlal re8parch gront Schemes, Increaslng access lo grant funding lor our communty th up lo 12 grants of £4,000 8ach for Earty and Mid-CareBr acadgml¢s as well as work focused on Managèment Knowlodgo & Educolion. offering a total of£48,000. In addltlon, we ran our shared i•seavch grant 8chemoB wllh our Itallan, Irlsh and antlpod88n slster bodles.. SIMA, IAM and ANZAM, direct supporting n¢w Internaucal reBeBrch collaboratlons, offering a total of £14.000. Th6 BAM-SIMA and BAM.IAfvI schemes needed tts be offerod a Second 1kn8, owlng to of appllcatlons, bul havo be8n suGGe¥¥lully 9wardj In 2024, INlh the Society for the Adv8nc8menl of Mgnagemenl Sludles ISAMSI wa redeveloped the annual gronl scheme. folng the planned pause for ravlew during 2022. and have awarded the new $¢heme lor the flrsl 1Sme durlng 2023124, off?rfng £60.CQO. W6 are Imm&nsety gralefijl to Pmfessor S16fanle Relssner for hèr work a8 Chalr ol BAM Gran18, and lo all the 8ch8me co-chalrs gnd reviewers, wlthout whose careful work would not b8 PQS8ible lo offer these opportunitles lo our communfty that hlslori¢ally Struggles to galn research fundln9. A8 e8rfier funded proleols ttsmè lo frultlon wo ar? worklng lo promole the findings of Ihls import¥nl r886arch lor publlc benefit, A8 ever, severe limilatlons tsn capacity ¢onllnué lo chalfenge our ablllty to do $0 as effectiv8 a8 we would wlsh. Page 7
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of the Trust9¢5 for the Year Ended 31 Dec6mb8r 2023 8TPATEGIG REPORT Achl8vgm8nt and p8rfornianc Awards Givlng publlc renItn lor excellence and leader8hlp In our communlly Is 8n Imporlanl part of d8lwadng our mlssion. In 2023 we made a number of aw8rd5, including overdue rewgnilion of the outStandlng and gxt8n8lve work carrfed out by our past Chair and Pr6sldenl, Profe8$or Nlc Beech. which could Mt be recognlsed whllsl he was in role, butwhkh ha8 m8d& a 8Ignal dlfference lo BAM. Our mo81 senlor award, the Richard Whipp Lllellme Achievement Award was given to Profe8SDr B8eGh and to Profossor RSck Delbrid99. Professor Beech w8S g1s0 aword8d Ihg Coopor meal for Oulslanding Leadersh and Conlributlon and wa5 the Inaugural reclplenl of the BAM M¢dal for EDIR. Professor A1180n Pullen and Prol888or Emm8nuell8 Plakoyiannakl each received the BAM Medal for FCe5earch: the BAM Medgl lor Leadershlp went to Professor Stewart Johnslono, and Profv$8or Dame Jan8 Dacre rarKivgd our Pr881donl's Medal foi Management Practke. Richard SpBnw, sustalnobllity 18ad al the Inslllule of Ch8rter&d Aocounlenls In England & Wales IICAEWI was mado a Companlon ot BAM. Our lournajs recognised the best p8peTS and al30 the bèst r8vlewer8, and our annual teachlng pracllGe Gompetttion recatved 8n ex¢ell¢nl number of gnlrf¢s onco ggoln. Seven leadlng mgmbers of Ihe BAM Communlly wro aw¥ded BAM Felk)W8hI for Ihetr ¢Ontrfbuln lo $cholarshlp and lo BAM.. PTofes$or8 Carol Atkln8on, A$h16y BraganzB, Graeme Curflè, Natasha Maulhner. Thanos PapadOp00s, Ason Pullen and R(h Sealy. We also prwsed PmfgS8or stephen Decker for Fellow8hlp of the Academy ol Soc181 Sclence8, whknh wos duly conferred. Thlg WLvk has ¢ontinupd in 2024 and now awards have been cr&atod to recognlga the rlslng stars In our communlly. A rwN compeliilve award commemoralos the latp Professor John Burwyne FBAM and h18 eontrtbullon lo Managamenl Leamlng and has begn kindly endowed by h15 wklow, TnKli. Ai our 2023 Conference we also remembered the worfc of Profwdsor Geoff Easton and Professor Robin Wensley FBAM and are inaugurating a new Robin VVen8ley memorial lecture 8erfg¥ with Warwlck 8u$ine69 Sthool. Llvlng our values Our work PTomoling EDIR has conllnued, ond we r8maln a Sector leader in prtIng bes1 practice. Our inaugural Vicg-ChaSr fcr Sustalnabllity, Profe8s0r Jan Bebblngton, worked wllh the offlB8 team on 8u$l8inablllly for our own actll1eS. bul olso Inillalad a new ntho of 188d8rg of Sustainoblllty Resoarch Centr88 in UK unfvorslllo5. whlch look shape kn 2024. ADVOCACY Pollcy Advwacy lo pKliGy makers Is 8n importanl p8rt of our work on behalf of our oommunlty. In 2023 and 2024 wo have drawn upon our communlty'8 knowledge and insl9ht lo re5p¢nd lo publk eansultatbn8 on the next Resaarch Ex¢o118nce Framawork exérclso {REF20291 on EDI an(1 Open A$6, worklng where rdevanl In collaborallon wtth PBrtner oiyan15allons Includlng the Brlllsh A¢4demy IBAI. the Acadèmy ol Soclal Sclencgs (ACSSI, the ChaA&red A$soo81ion ol Busln858 Schools (CAB81. and the Socl8ty Pub118her8 cOlI10n. Our CEO, Mad818lnè Barrows, $118 88 an invR¢d mgmber of the newty fomied CABS Polfcy Commttle8. We publl8hed the flndlngs of our MmISSIoned research Into wellbelng in academic careers in busln8s8 & mangg8menl, whkh drw upon the 9xperi8&S of our members beforg and durlng the p8ndemlc, highllghllng Ihg Seale of Ihe problem8 and the role ol $lru¢tural l$$ue¥ In¢ludlng workload and Ilne management. Durlng 2023 and 2024, our Vice-chaly lor EDIR, Prof8gsor M8rtyna 8lha, worked w51h our cD-VIce-Chalr for Research & publatn8. Profe880r Stephanle De¢ker, lo produGe a new b9$1 praGIIGe Guldp to Decolonlslng the Curriculum. This is bdng publSshgd al our 2024 Conference. and PTomoled lo wider audlen¢es. wllh the ald of a grarbt from Ih?AcSS-ESRC EDI fvnd. We have conllnued lo ?uFport applle811t)n9 from our Commurty to external research fundlng bodles, ere Ihe proposal has clear alignment wtth our valve8 and where wo f801 we Can add valuo. In p8rtlGular, we ar& supportlng a prolecl al Oxford Brookès UniveFstty nded by the ESRC EDI Caucus eXplon9 the Impa¢l of Ihe Covld-19 pandemlo on earty e8reer r8s8archef6, and also Resear¢h England-fun¢Jed wcd( at Exeter Unlverslty on Dev6loplng Busln6ssAwarg AdemS. Pagp 8
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of the Trnte¢S for the Yttttr Ended JI Decemb&r 2023 STRATEGIC REPORT A¢hlevoment and performan¢0 Partnershlps We promote our communily Inlernatlonalty and support lh8 ereallon of nethrks benèflclal lo researoh vla partner8hlps wllh 8lsler organlsallons In other wunlrfes. In 2023 we d&veloped a new relatlonshlp with our sl818r body In Spaln- ACEDE- and signed 8 Mamorandum ol Und8r8tandlng enBbling a 8harod membershlp scheme operaMonal from 2D24, wllh plans for further co11aborolion. Wtth our 81st8r body In Italy (SIMA) we heve ConUnU our $h9r8d membeishlp gchom8, seen Increasing collabordllon betW8en our SIGS and SIMA Themallc Groups, and co-badgod Summer and Wnler Schools. We welcc4ned the winner of Ihg Irish Acadgmy of Managgm&nVs DoGtoral Colk)qulum prize lo our confgrgn¢g. We have had warm and frlandty ConfergnBe vlslts th and from ea¢h of these bc<lle8 and welcomed thair Presidents a8 Companlons of BAM. Members of our Execullve hava supported panel èvenl8 run by the Afrlca Academy of Monagemenl {AFAMJ end we hope to dgvebp Ihls partnernhlp lurther In th8 future, Our rèlatton8hlp with CABS continues to focus posllfvely on dellvery ol our fiagshlp Dev8lopmènl PFogranNn¢ for c11rOr$ ol RaseaKh and on shared policy work. Togglher with the Chartered Monagem8nl Inslllule and CABS we have developed 8 new 'Managemenl PublKallon of the Yeal award lo rocognisg subslantlal work that has the polenllal lo impact pracllce, but whl¢h 1$ - cruci911y- underplnned by academlc research. Thls has been launthed In mld-2024 fomowlng a slgnlfkanl development proGe8$ and th8 first owards will be mod& in early 2026. continue to be closely enuaged wllh the Inlemaflon81 Federallon of Sthlarty Assotrlatlons of Mgnag¢m9nt IIFSAM) ond our former Chalr ond PTe¥idenl, Professor Nfc Beech,18 IFSAM Pre¥ident-EleGL Thls bring8 u8 Into a hSgh-levg1 global network. Al nallonal level. we work e106ety wlth th¢ ACSS and the BA, v58 their ie8peolive learngd socldy commillees, nomlnallon$ for ACSS Fellowshlp, the ACSS EDI forum, ond a$ an Invllod lèarned so¢ty membar of the BA'S Straleglc Forl IOT Ihe Soclal sciee& Governan¢o Admlniiratlon In 2023 wa welcom8d a I9& number ol new members to Goun¢ll followlng the Ennual el6ulon8.' Flh)mgna Izzo; Rebecc8 Liu., Zoe Morrlson., Néll Pyp8r Farlba Dar)I,' Andy Charfwoad,. and Jia Llu. W8 are mosl grateful lo them for thelr work. Al the end 012023 we sald o sad far6woll to Anne Clarg Glllon afte(6 year8 cffi Counal preceded by four as Vlce£halr lor SIGS. Durwig 2023 Zoe MoM80n was 8cted as CD VchaIr br SIG8 In su¢ce$slon to S8vvas PapaglannithB. Tho 2023 C¢)un¢il ltIOnS wgIGomud beck Graernè Martln and CIBire Hookham. The BAM 8eGrelarlal Contlnued to punch 8bove118 welghl. The very Small, bul hlghly d¢dl¢ated, offi¢9 taam, l¢d by our CEO, has 8uppod8d a growlng rang8 of acfivilles Includlng more evenb and programme$, a laruer conference, addillonal gr8nl achemes, and fflora publlcollon8. Durlng 2023 wo 88ld farewell to Elvza Robey. and wdcomed Matha Mellotv who was in turn succ88ded by Justin Brown In a nevly shapad events 8nd communl¢xlions role. ROl$ln DurnSng-Brodeilck nvJv8d on lo n8w advènlure8 after con¥lderablo work on our new CRM and we have wekomed Ines Andrgda In her placo. Justlne Senkus, Lewls Johnson, Ambra Rb¢a, Sluart Hull. Sh8ron Mlller and Emma MIsBen have oonllnued to ¢onlriJute their 5klll8, expgrt knowledge and enthusla8m lo everythlng we do. In 2024 we have agreed lo ron the offlc8 leas8 at Flve KlTrJ8 House, lo provtde addlllonal $tablllly ONJ certalnly golng forward. A8 2024 closes we 11 be sod to say tarowg11 to BAM's first CEO, M¥Jelelne Barrows. who Is relirfing after nearly sevgn years In role, and are undertaklng the $eweh for her succes50r al the tlme of wrltlng. Page 9
THE BRITISH ACADEMY OF MANAQEMENT UMITED Report of thg Trusleeg for the Year End&d 31 De¢embÈr 2023 STRATEGIC REPORT Flnanrlal revlew Flnanclal posltlon 11 is pleaslng lo see our In¢ome grow gnce ogaln by more than 12% from £875.350 In 2022 lo £968,190 In 2023, and lo sB8 the fing1 year oullurn achlev8 an operatlng 3urplu8 th31 contrasts with an operallng1088 last year. Thls was the re8ull ol a comblnatlon of Careful cost control. a genarous conference h081. 8electiVÈ prfce Increases, grgwlng th6 mombership, and energell¢ development of new incom8 $lreams by the Truslg85 ond their sub-Gommlttees. As a result. £2e,953 was athyod Ic Ihe r8seN88 Ihal now Stand 01 £653,258. The accounts show a negalN8 ca8hllow (£37,635), because al fillanclal year end we had a 5ignifiGanl new debtof on account of ¥ lime IWJ behveen paylng out partnepd grant fundlng and recelpl of the corr¢spondlng monte8,' thos¢ monies havè baen collected and the ca$h po$lUon returned to nOTmal. The flnanolal landscape remaln5 InGTea$lngFy dlfflcull, as UK unwersitlè8 cul re80arch budgets and be¢Au8e of ongolng change5 in acadwnlG publi9hin9. In the me8nllmg. Inflallon olso ¢onllnues lo Impact our costs. Income from ourjournals was down by ovor e% 01 £220,55912022'. £240.4091. Whi151 nDI unexpected, end aounted for In setting our budget, th15 Is naturally disappolnling to see, espeGlally as rapidty Inereaslng submlsslons r8quire slgnllicarsl increa5e5 In the numb¢r of Edltors and the tim8 of our Journals Managing Edllor. Incom? fr¢¥n our Annual Confarance was ba( up to preandemi¢ levetg Itx th8 first Ilme and wa are grateful to the Universlly of Sussex for Ils generous 8ponsorGhlp1 and excemenl ho8llng, of our 37th Conference. The Tru818e$ ar@ kept aware ol chÈll8nge8 and achlevemenls end regur consldgr the flnancial health and ¥ustalnablllty of thè organls91ion. In both the prevlouB12020-24) and new12024-20281 published slralegies. the Trustees conllnue lo priorSllse growth of appropriate existing Income streams Isuch as mgmbership subscrlpllonsl, devalopmenl of new ones, and are reviewing our p¢rtfollo of 2cllvM8s In order lo en¥ure 8AM has a sustalnabla future. Nonelhe1&s8, 11 expected that tho Immedlale future 11 brtng at le881 one or tyjo very dlfflcutt years bBf¢xe the UK HE sector 8how8 some recovery and resumes ils ¢nlhuslasm ta invest in developm8nl of its gcademic 81aff through engagemenl with learned soclety aclbvllle8. The Invaslm8nt of £340,000 of our resoNes had re¢overed ila 5nltial capttal Va by the end of 2023, Gloslng the year at £342,532. Th8 value has conllnued lo show an overall riso durlng 2024 In Ilne wSlh the wld lock market but the Truslefrs rwnaln gware that the value will fluctuate lft tha 8hort lem, and Ihal the aim Is to achleve longer-lwm gTowLh. The yield for 2023 was e8tlmate*J ot 2.8%. and a total return of 4.1%, 50 Ihls rem&ln$ below the 8gr8ed 18rg8t of RPl+ykn. Nonelhele8S th18 Includas Incomg of £9,205. much of whkh would othorwlse have been unavallable to u& We wlll continue lo rnnltor the perfManCe of our invgstrnenl manBgEr8. Durfng eaty 2024 8 new S-yaar lease waB negolialed at favourablg terms. CgwnfftFnclng in November 2024, Ihl$ w411 onable the BAM olflce lo remaln 91 Flve Klngs Hous•. Page 10
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of thè Tru$fèts for the Yeor Ended 310ecember 2023 STRATEGIC REPORT Flnanclal ravlew Invgstment policy and (4)l•cllve$ Funds for investment compri58 the resetve funds not requlred lo supwrt the normal operatlonal cashllow need3 (including any operational reserves). BAM'S amblllon is lo g8ner810 annuallsed return8 of RPI plus 2% over the long term. net of fw and expenses. A total rglum approach is to be adopted. g6nerallng the Inlment return from income and capllal goins or10ssas. BAM Inve8ts funds In Ilquld slcLk market In8lrumen15 such a8 Shares and bond8 Cf 0stabli8hed govemments, companles anii Invaslmenl fiJnd8 through a rè¢o9nlBed UK-ba8ed fund8 managgr. Thk fund managgr'$ perfomance Ilncludlng fe6s1 Is measured by Ihe Investmgnl ¢ommlllee on a regular b8818 gg4lnsl ppropriale molrlcs. The Ilme horizon for the fund should be flv8 ye8rs on a iolllnu b8518. Because BAM'S inv8slmenl strategy 16 51111 r61allvety new, the fund manager has be8n dlrected to avold risky invgslrnenlB SLsch 88 hed9e fund8, unmal¢W d8rivgllves, aml any olher instrument that l¥ volaille In prke or illiquld. BAM pursues a SoGlaUy ResnsIble Invèslmenl policy in 1Sn& wtth118 values. Thesa Ineludo equally of opportunlly for current and future g¢nèratlons, avoidgnGe ol inv881ment6 In arma maklng or amis doploymenl, or tobacco. BAM w8nl8 Its Invesfmpnts lo support companie$ that promote good so¢lal, enviTonmental and governancg policla5. And In all cases. BAM asks its fund mana9ors lo reBP8cI and follow the Chaflly Gommi88lon guidance. The InveBlmenl committ ha5 been dalegaled to managp the Inveslmenl fvnds the fund mEnBger. Tha committee follow5 formal rules whl¢h adopt up-lo.dala bast practic8 behaviour for Its operatlon In¢ludlng how investment ded$n& are made. how perfomiance i¥ magured In delall and report8d, how fund manugur Is chosen and monttorgd. how often m8ethngs are held between the commllteg and the fund monagar. and th&88 rul88 ar8 made avalkble al all Ilme$ lo the Trustees (Execuilve Commilleel and, if asked, lo the membèrshlp al large. The Inve$lm8nls Cornmittee revlews Ils Tules annu811y. The Investments Commlttea wlll not change tt8 inv681ment manager w5thoul first Informing the Truste95 (ExeculNe Commltteel. The Inveslmanls Commlllee will r8POrt formally on t1 performano? ol th8 Investments blannually to the Executlve Commlllee, and at other Ilm88 wh8never formalW asked. and through th Annual 13onerfjl M•ellnu and the Dlrectors Annual Report to tha membership al 18rg?. Inveslménls in tha year were rnade In Ihe Rathbones Cor¢ Inve8tm8nt Fund for Charllles, wllh an 06llmalgd yl8ld of 2.8% al 31 0mber 2023, Resetves poll¢y Thè Trustees consldgr Ihal reserves are rn¢pJir8d lo anBure IhBI the Academy has 8 8uffi¢lent levFI of worklng capiial lo enable the 5ffl0Dth operation of the Academy. In addltion. they con$l¢er that addlllonal reserves are requlred Butth that tha Academy Is In a PDBillon lo weather a flnan¢ial shock, whelher r3ducllon In Income cf an unexpected Inorease In costs. A sufficient level gf resem¥ would ansure that, by necossary. th? Tw$le88 woukl be able to arrange an ¢xd8rly wlndlng down of the charitys aflelrs, whereby all of 115 fin¥n¢lal re5ponslbiliti8s and obllgallons would b8 honourad. Th6 level of res¢Ne$ 8t 31 Dec8mber 2023, whlch are all unre8triclgd, omounled to £853,258 12022.. £626,305). Future plan8 Our new Strategy 2024-2028 gulde8 our continuéd grcwth, and we retain foEus on our vl¥lon to be a pIL¢rallsllc learned so¢1gly. wntribullng lo the development of managemenl knowledge and praclke nallonally and Inlernallonally. Wa Str lo be incluslve, recogni88 8nd respect the drSIty in our wmmunity and piomolg 8xcellenc8 In all we do. We 8lriv& to rernaln relevant and evolve our programme of acliVilk85 In Ilght al changlng clTcum81ances. Page11
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of the Tru5tQ96 for Iho Yr Ended 31 December 2023 STRUCTVRE, GOVERNANCE AND MANAGEMENT Goveining document The organigalion18 a charitable cornpany Ibnlled by guarantee, Incorporated on 7 Juty 2006 Bnd 1$ reglslered as a charlly. The company was eslab1lsd under a Mem)randum of Assoclallon. whlch estsbllshed the oblec18 and ww8rs of the ¢horlable ccmpany, ond 15 govgmed Lder Its Artl¢les of Association. In the event of the company belng wound up memb8rs are required to contribute an gmounl not BxceedSng £10. Recrultment and appolntment of Truste8s Tho Trustee8 are ele¢l8d by the membgrs blennlally. Incechairs may seNe yaars and may thon st*mll thern8elvgs for for a fvrther years. Th& Chalr and Presldenl, who arè also Tru81ee8, should normally have previDu81y served 88 Vice.Chalrs or Chalr, arKI are ele¢led by the membprshlp lor a term of tNrfo years. after whlch thoy may submll themselves for èl&llon lor a further two years. The TTeHsurer Is appolnlod by thg Council for a term not exceBdlng 5 years. Th¢ elgcliolls for Presidonl and Chair, and for VlcethChair8 ere nornllY hekl In 8llernal8 years lo provide conliTruily. Tho Acadèmy Is fortuna18 In belng able to drew Its frusle&s from the Coun¢ll, whkh conslltul8$ 8 pool of hSghty qualSfleil indNiduals. On appointment to the Executive Commlmee new mfrrnbefs undergo an Induction proces¥, whth includes Iralnln9 on Tfuslee responslbllltlgs. Orgonlsatlonal structure Tho Acadgmy is govemed by an Exo¢ullv8 Commllleg of Ih8 TrLt8t8e8.11 comprf5e5 the President, the Chalr. lh8 freasurer ar several Vice-chalrs, each llth SponSIbilitY for a 5peclflc portlolio of acllvllles. The Trustees ara also part ofthe cou11, which cornpr18es around 40 academics In lotsl and whos¥ non-Tru8te& members fom) four sub-commlll$QS chalred by thg Vl¢e-Ch8lrs. Most CourKII membèr8 are eknled for a period oflhree y&af¥ by th8 9en8ral m8mber8hlp and Ihair ro i& lo suNISe the affairs of the Acadgmy. meellng al1¢3s1 Ihrge ifvngs a year, The Council also hes the power lo ¢C-opI momb8rs onlo the Council who hold offKe for onE year. Addillonalty, thè Councl has sever mpmbor8 who servg ex officio, Indudlng the edllors ol ils loumS and the Dean of the College ol Fellows. D8y lo day ra5p0nslblty lor provlslon of servlces rests with a Small office team Eomprlslng an average ol ELK full-time gnd part-tlme staff and part-lime conlrador in ihe y8ar undèr révl@w. Th& CEO, wlbj was appolnted in J8nuary 2018 to wnplamenl the strategy. development, governanc? and management of the har(ly. heads up the offt¢1oJm. Inductlon and Iralnlng of new trustee5 N¢w trusi66$ arè Informed of Ih81r leg81 obligalKJns under charity law. the Charlty Cornm18Blon guldance on publlG benefil, the contént ol the foundallon, the ¢ommllla8 and deciglon-moklng proc&99e$, and recènt fln8ndal performanc8 Dfth8 Charily. Key management remunaratlon The Tru81o¢s recelve no remunwailon for thetr servlces olher than the 1MbUr6em9nt ol oul-of-pock81 exponses. Th8 pay of senlor staff is reviewed annually and normally Increased In accordance wilh average earnings laklng account of the charita& n81ura of the organisallon, Thè Tiusteo8 bènehnrk $818ry ve1$ a9alnsl pay and c(Mdlllons avallable from slmlLqr org8nl$allons of a slmllBr 8lz8, wn on a voluntary bask, and ypeolfic811y look lo alhJn wlth the UniveTsllle$ and Colleges Unlon Salary al. Rlsk managerngnt The Trustees have a duty lo klenlfy and revtew the flsks to whlch the charlty 18 exp088d and lo ensure approprlale controls are In pknB to provide roasonable assura& agalnsl fraud and error. A Flnance. Inve8lmenls and Rlsk Commlllee, establl8hed separately from Councll. &d8e$ the Tru81ee8 on these mallers. The Truste8B have aSSe8d the major rl$k$ lo vA)Ich the company Is exposed, In partkular Iho88 related lo Ihe op?ralion8 and flnan¢es ol Ihg company. and aft $alblied Ihal syalems and procedur88 are In place lo mlllg81e éxposure lo the malor ri8k8. Page 12
THE 8RITISH ACAtsEMY OF MANAGEMENT LIMITED Roport ol the Trustee for th• Yggr End¢d 31 D¢¢èmb¢r 2023 STATEMENT OF TRUSTEES, RESPONSIBIUTIES The Irustsos Iwho Bre also the dweclors ol The eri118h Acgdemy pf Ilan8g•menl Llmited for lh8 puiposes ol company lawl are réspoDEibl8 for pw8dng th8 Report ol the Tfu81¢98 and tho linon¢i81 $181omenls in acranO wNh appfi¢abl6 law gnd Unllèd Klngdom Accounllng Sland8Td9 (United Klngdom Gen•falty Ac¢epled Accounting Praclicel. Comp•ny law rwuir85 the Iruslaes lo pr8p8re Inoncial ¥lalomenls for èa¢tt fihunclal year whkh glvB o Iluo 8nd falr vlew ol the Slate ol &ffglr$ of Ihe Charllable company and of tho Incorning r8sourcey and opplicellon of resourc8s, Includlng lh8 Inccrfn8 8nd oxpondiluFe, of Ihe charilablo company Iw Ilial p6ri(A. In w0P8rlng thosè Ilnancial 81alements, tho Iruxleès aré rgouirad t 8alecl 8ullabla acoounlkng policies and then apply thom eon818tenlly,' ob$erve the methods and prindples In Iho Charily SORP., make judggmnts and e81imale8 that are r8asDnable and pwdenl., 8tal8 whelh8r 8ppli¢abkg ac¢ounllng Standards have béan ft)Ilowe(J, subj-ect lo any mate¢lÉl rJeparture& d150108•d gnd èxplained in Iho financial 8talqmgnl8: propare tha linanclal Bt818menlB an the going CO01n bas18 unfess il is Ingpprwriats to pie5ume that Ihg eharliable company wlll conllnug in bunBS8. Tha Irv8iees are fesponslble lor k88ping prop$1 8¢00unting r8cords whkh disclose wllh r888ohab10 accuracy al any limg the Ilnanclal po3lllon ol th& ¢h8rilabl8 comp8ny and lo 8n8ble them to ensure Ihat the Ilnancial sial&monlg ¢omply wrth the Cornpani93 Act 20Cfj. They are also r88ponsiblÈ lor 88fegugrding tho ¥5se15 of the charfloblo Compony 8nd hence for laklng re8Jonable gteps for the PTovenllon and de¢lIon of fraud and olhei wregul8rllies. Th¢ INslee¥ arg rosponsible fty tho malni¢nan¢o and hlggrity ol lh& corpoi¥t¢ and 11n¢11 Informallon includgd on the tharitabl8 Gompanvs WBbsile, a glrts1ég report, 8pprovod by order of Ihe board ol Irusleè8, È* 1 ..%.. and $lgned on Ihg board's b•haif by." Réport of the Iru$l&e3. Incorporalln company dlrectors, ¢n .Q.4.: Prolesgw E L Parry- Trustee Pggo 13
Independont ExamIne5 Report to the Truste88 of The Biillsh Acadomy of Management LSmlted Indop•ndont •xamlnerb roport to th• trusteeg of The Brlt18h Academy of Managernent Urnlted {'the Company'l I report to the oharlly trustees on my examlnalion of the accounts of the Company lor the ye8r ended 31 Decembgr 21r23. Thls report Is made solely to the Trustees, as g body. in accordance wllh the terms of our 8ngagem6nt. Our wcrk has been undèrtaken so that we mlghl carry out an IrKlppgndénl Examlnailon of the ftnandal 81alèmonls in accordance with the General Diredlong glven by th8 Charty Comrnlssloners and for no other purpose. To the fullost extent permltted by law, wa do not accept or ossume 8pOnSIbIlIty to anyone other than thg Chwlly ancl Gharfty'$ Trustees. as a body, for our work, for th[8 Tepori, or for the oplnlon$ wo have lormed. Responslbllltl98 and ba$1¥ of report AS the ch8rity'8 Iruslees of the Company la1 also 51s directors for the purposes of MpanY law) you ara re8ponsiblB lor tho preparalbn ol the accounts In CordanCe wtlh Eh¢ requlremdnts of the Companlas Act 20061'lhe 2006 Acl'}. Havlng gallsfled myself Ihgl the account8 of the Compgny aro not r8qulred to be audtted under Part 16 of Ihe 2008 Act and are elloib18 for Independent 8xamlnatlon, I report in raspect of ry examlnallon of your chortty 8Grounls a$ cardad out under Seellon 145 of the Charllles Act 2011 Ilhe 2011 ACVI. In carrylng out my examlnatlon I havè lollowod lh& Dlreclksn8 gfven by the Charity Cemmlg8Son und9r Secllon 145{5) Ibl ol th8 2011 ACL In(18pendent examlner statement Since your ch8ritls gr058 Income eKGeed £250,000 your examlner must be 4 mombar of a lislafj body. I Cgn ¢onflrm that l am qUallfIj lo undortake Ihg examln8ll¢n be¢aus8 l am a mber ef Ihe InstLO of Ch8rterBd Acttsuntanl8 In Eng(and and Wales, whSch 18 ¢)ne of th8 Ilslgd L)dle$. I hav9 wmpleted my examlnallon. I conftrm Ihgt no maller8 have come lo my attenllcn In Connoclion wllh Ihe examlnallon glvlng mo to bèll8ve'. accounlkng records werè not kept In respect of tho Company as requlred by Socllon 386 of th• 2¢))6 Aol., or the accounls do not aocoTd wlih those record¥'. or the ac¢ounls do not comply wilh the arcounllng reqreMentS of Sethon 398 ol thè 2006 Aet othèr than any requlremènl that the xcwnis give o ITue &rKI falr whlch Is not a matter con8idered as part of an indepgndenl examlnallon,. or the accounts have not been prepof8d In accordance wllh the melhods and prfnclpleg of the Statement of RecommeNled Practlce for 8ccounling and reportlng by ¢harkla$ lappllcgble to charilles preparlng Ihelr accounts Sn 8ccordanc8 wllh the Fknancfjal Reportlng Standard applioable in Ihe UK and Rewblic of Ireland IFRS 10211. I have no concerns and have comè across no other matters In connedlon wllh the examlnatlon lo whkh 8tl¢nUon Should be drawn In Ihls report kn ordor to enabl8 a proper understanding of the a¢¢ounls to bts reaGhed. James Floll8nd-LvAd?r FCA Knox Cropper LLP Chariered Accountan18 85 LewJenhall Slr8è1 London ECSA 2AD Dal8'. 26Fi s Page 14
TrIE BRITISH AGADEMY OF MANAGEMENT UMITED Statément of Flnanclal Actlvltles In¢orporatlng an Incomè and Expendlbjre Ac¢c*unti for tho Year Endgd 31 Decèmbor 2023 2023 Totsl funds 2022 Total fund$ Unré8lricled Re¥tr1¢11 fund funds Notes INCOME AND ENDOWMENTS FROM Charltable actlvltle Charitable 895,558 68.989 9B4,OB7 848,(K4 Other Iradlng tIvIt9 Inveslmenl income 19.630 13.973 19,630 19.339 Total 929 201 98B 190 EXPENDifuRE ON Rg6slng fund8 29,674 29,574 25,759 harltable aetlvltlg8 Charilablg
38 704
882 820 Total 988 278 908.579 Nel galnslllc8se81 on inve91m8nls NET INCOMEI(EXPENDITUREI 26,903 26.953 174,9231 RECONCIUATION OF FUNDS Total funds brought fojward 626AOS 826,305 701,228 TOTAL FUNDS CARRIED FORWARD 663 268 628 305 CONTINUING OPERATIONS All incomo expgndlture hEs arf¥on from conlinulng actIlIes. The n¢)tss lo part of Ihgse flnanclal stslwngnts Pogg 15
THE BRITISH AQADEMY OF MANAGEMENT LIMITED Balance Shpol 310&cèmbgr 2023 2023 Total fund¥ 2022 Total funds Unr881dcled Restrict6d fund funds Notes FIXED A88ET8 TBngible a&sels Investments 15 le 12,103 342 532 12,1S3 342 532 20.fj73 338 299 364,685 384,685 358,472 CURRENT ASSET8 Debtors Cash al bank In hand 17 238,498 287 232 238,498 267,232 158,051 324,867 826.730 526.730 482.918 CREDITORS Amounts falllng due wllhln one year 18 {227,1 Wll 1227,107) 1215.085) NET CURRENT ASSETS 298 5Y3 267.833 TOTAL ASSETS LESS CURRENT LIABILITIES 653,268 6S3,26B 626,305 NET ASSETS 653.258 653 258 626 305 FUNDS Unrè8lrlcted funds 20 653 268 626 305 TOTAL FUNDS The ¢h8r5tsble company Is 8nlrtled lo exempllon from audlt und$r Secllon 477 01 the Companbs A¢t 2008 for the ended 91 December 2023. The MberS hgve not wulred tho company lo obtain in audll of Ib flw)clal sta18m8nts for the year ended 31 December 2023 In accordance wllh Section 476 of thè Companles PLI 2006. The liu$l$¢$ acknowledge Ihelr r88ponslbllille& lor la) ensurlng that the charllabl¢ wNpany keeps accountlnu records that compty wilh Secllons 386 and 3B7 of th8 Companles Act 2006 and Ib) preparlng ffnanclal slolements whl¢h glve a Iruè and f81r VI of the stal& ol •ffalrs of the ¢har119bl• company as al end ol 9h flnanchil ygOT and of Ils gurplus or dar11 for each fin8ncial y09r In a¢¢ord8nce with the requlr8menls of Secllons 394 and 395 and whlch otherwise comply wllh the requlrem¢nts of the Companies A¢t 2Q06 relgtlng lo Ilnanclol $18lem8nls, so far as applicablg lo the chaTiiable company. The linanclal st818ments were approvod by th¢ Board of Tru8leas and aulhotsed fcr Issue on .3.-...&>...2.-..*oA.%.... ond woro signed on Ils behalf by.. Th• not•$ form port of th886 Nnanclal 51aiement8 Page 16 eonlinued...
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Balance Sheol- conlSnued 31 D•cgmber 2023 E L PBrry- Tru818 Th8 nDIB3 form part ol Ihe*e firtanelal stalemenlB Pagè 17
THE BRITISH ACADEPIIY OF MANAGEMENT UlllTED Ca$h Flow Statgrnent for the Year Ended 31 DgGen*er 2023 2023 2D22 Notes Cash flow$ from opeyatlng actlvltles Cosh genergled from op6ralk)ns 516191 Nel cash Iu8ed Inyprovided by op9rallng aGlivllies 616191 24,514 Cash flow5 from Invgstlng o¢tlvltl89 Purchase of langlble flxed assets Purchase off1x assel inveslm¢nl8 Inler8sI recefved DldendS ieceived Investment management feeB 12,6531 11441 4,768 9,205 19,518) 140,000) 711 7,2S6 N8t cash provlded byl{u50d In) Invesilng aclNillas 389101 Change in cosh and ¢ash equlv8lent3 In the roportlng perlod Cash and cash equlvalents at the b¢glnning of the reportlng p&rlod 137,6361 14,3961 324 867 Cash and cash equlvalents at th& ond of th& reportlng pgriod 28Y 232 The noies fcfm part of those financial Statements P•g&18
THE BRIT18H ACADENIY OF MANAGEMENT UMITED Notes to th? Ca¥h Fl¢)w 814tompnt for thè Year End•d 31 Docomber 2023 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Nèt Incomel(expendliur91 for tho rèportlng perlod las r the Staternent of Flnanclal Actlvitle8) AdJugtm9nts for: Depreclalon Charges (Galnlllosses on invéstments Intoresl received DlendS r¢¢elved Oncro888lld8crease In deblors Incr6 in credllors 26.953 174,9231 10,673 {6.897) {4,7e8) 19.206) 180.447) 11,670 41,694 17111 17,2381 19,342 Net cash (used Inllprovtded by operatlon8 34,514 ANALYSIS OF CHANGES IN NET FUNDS At1.1.23 Cash flow At 31.12.23 Net cash Cash al bank and In hand 37 636) 324,607 37 6361 287 232 Total 37.635 287 232 The note$ form part of these financial slal8menls Page 19
THE BRITISH ACADEMY OF PJtANAGEMENT LIMITED Notes to thB Flnanclal Statpments ft)r ihe Year End9d 31 De¢emb8r 2023 COMPANY STATUS The charlly 1$ a prfva12 conip8ny Incorporated In England and Wal85, whlch l¥ limiled by guaranteè and consequenity do88 not hgva a share capital. Each of the mamr5 16 Ilablo lo contrfbul¢ an amount not exceedlng £10 towards the assets of the MpanY In the event of IlquklaU¢Jn. The pdnclpal place of Buslne88 Is as d15¢1osed in the Report of tho Truotees on page 1, ACCOUNTING POLICIE3 BA81$ of preparlng Ihe flnanclal stat¢mant8 The finala1 8t818menls of the ch8rilable company. whkh 18 a public ben$lil 9nllly under FRS 101 have been prepared In accurd¥nc& wllh the Charflles SORP (FRS 1021 'Accounlinu and Reportlng by Cha[les., Statement of R8commend8d Pr8¢1ice appliceble lo ¢harlll•s prepBrfng Ihalr a¢counls in cfdan¢e wtth the Flnanclal R&porting Standard appll¢*ble In the UK and Republ of ITe18nd IFRS 102) leffectwe 1 January 20191,, FlnAnGlal Reportlng Standard 102 The Flngnclal Reportlng Standfid Bpplirable in the UK and Republlc ol Ireland. and the Compan185 Act 2006. The flnanclal slgtsmanls have been prepared under thé hl8tori¢al c081 convenllon. wlth the exceptk)n ol Investments whlch Bre In¢ded at mathel value. 88 modlfkd by the revahjatlon of cortaln assets, The f6n8ncial slatements rg prèpared In 818rtlng, whlGh is the fundlonal currency of tha Chari18ble Company. Mondary amounts In these financt81 stalemonls aro rounded lo the newe8t £. The TTu81ee8 consld6r Ihal there erg no UncertntIeS about the Charitoble Ccfflp8ny's abillty to continua as a golng concern. Crlllc414ccountlng ludgements and key sources of es11rn8tlon uncertalnty The basis for 8stablighing income recelved In advance in connecflon wllh members. subxrlpllons Is judgemenlal, and 18 calcuLgted b•$ed up¢n tha month th81 the 8ubscriptlon 18 purch&8ed. At th8 repon0 dale, tha balance Is deferred over the rem?Inlng 18rm of thè SUbPtIon. On the bas18 thal 8ubScTiptns are on an annual b8$is. the Trustee$ $rg ¢onfident that this does not provldo a material lgvd of a3tlmsllon uncertainty. The TnJs18es have considered the rfsk of 8gllmBtlon uncertalnty cau81ng a material odluslmenl to Ihé carrylng amounts of assets and Ilabllille5 within the next flnanclal year, arKI consider there to b8 no furth$r slgn11konl aceounllng e$llmal88 and assumpllon8. In¢ome Incomo i¥ roc¢¢Jnlsed and Included in t accounts when all of the foil¢)wing crflerla are mel.. -tho Acqd6my has éntlllement lo th¢ -any perfomancg condlllons attacheEI lo Ihe IrKomg have begn rllet or are fully within th8 control of the Academy ~th6ra Is sufflclgnt Cortalnly that recelpl of the Income18 proble -the amounl can be me05ured rellably Exp•ndlturo Liabllille8 are recognised as 8xpendllur$ as soon a8 Ihero 18 a legal or Gonsiru¢tlve ¢bllgatlon commlllkng the charity to that Qxpendllure, 1118 Probab that a transfer ol economic beneflt8 will be requlrod in 8èttIBmenl and the amount of the obligalion can be measured rsllabty. Exp¢ndilLtre is accounlad for on an 4wruo18 basls and ha8 bèen cla98ified under headlngs that aggregate all cost related to the category. Wherg cost8 cannot be dlr8clly allrlbuled lo partlcular hoa(nngs Ihey havè been alloc818d lo aolwilig$ on a basls conslstenl wllh the use of re80ur¢0S. Grants offered 3ublettl lo ¢ondlllons which have nol been met at the yoar end date arg noted commiimenl bul not accrued as expendllure. Pag8 20 conllnued...
THE BRITISH ACADEMY OF MANAGEMEKr UMITED Notes to th• Flnanclal Statements - contlnu8d for tha Yèar Ended 31 December 2023 ACCOUNTING POLICIES- continued AlloGallon and apportlonment Of ¢ost8 Support costs are Iho8e function5 that 8sslsl the work ol the charKy bul do not dlrectty und8rtd¢e charfloble acllvilw. Support t9 Indude back offlce co818, finance, personnel. payroll and gLWEm&nce eD8ts whlch sUPPOrt the AGadgmy'$ programmes and oCtfvitl8S. These eosls have all beèn allocated to expern%ilur8 on cheritsb18 acll¥llle8, The b0899 c4) whkh support coslg have b88n ol1rated are 8et out In note 7. Tanglblg flxgd assets Dèpreciation L8 prowided al th8 followlng onnual rates In ord•r lo wrlle off e8ch 88881 over Its esllmated usglul Ilfe. Improvemenis to pr¢pgrty Fiklure$ and nlllngs Computer equlpmènl 2LVh on Go$1 2N on c08t 25% on Cost Taxa¢Son Tha charlly18 Mpt from ¢orparallon tax on its tharllable fdlvlllo8. Fund ac¢ountlng Unreslrlct funds represent a gener81 fund hehg for the overall oyects of the Aeademls work. There are Qurrenlly no restrlcled funds which would requirg lo be allocated lo speclC a¢llvllles. InveBtm8nts Investments are a form of baslc financial investment and are In111811y recognised al Ihelr tronsaclion "value and 8ub8equ8nly meagured 81 falr vglue 88 al the bglance sheèt dato uslng the ch)8lng quoted maikel prlGQ. The slalemenl ol iinanclal oclfvillos includes tho nel gains and Iusg9s arlslng on rgvalu8fion8 atKI disposals Ihn)ughout th8 y&ar. R@81I88d galns and b8ses on Investmenlg arè calcul8led as thè dlfference betsYg8n sales proc¢od$ and Ihelr openlng carylng value or their purch88e value if acqulred subs¥qu6nt lo the first day of Ihg fknanclal year. Unreallsed galns and losses are Gal¢ulaled as the dlfference beiW88n th8 f81r valuo 81 the year end and th•ir earying value. Penslon costs and other post.Tetlrement beneftts Thg charil8blo ¢onwany operat68 a defined contribution pensfon svheme. Conirfbullon8 pay8bl8 10 the ch8rttabl8 company'8 pslon scheme are charyed lo tho Stalemanl of Flnanclal Adlvllleg In thtr peiiod to whlch th¢y relote, Debtors Trade and other debtors #re re¢ogni$ed at the settlement amount due aftor any trade dlocounl offered. Prepayments ora valued 01 the amount prepald after taklng account af gny Irada dlscounts dug. Cosh at Bank 4MI In Hond Cash al bank ond In hand Include8 cash and Short tgTm hIgh Ilquld Inveslmenis with g short malurily of three month8 or le88. Credltors Credllors and provlslons are recogn1¥ whèr6 thè A¢ad8my has & present obllg8llon resulllng frcrfn o past evènt th81 11 probab rasull In the transfer of funds lo 8 Ihlrd party and thè Amount due lo settlg Ihe obllgalbn can b8 meaBured rg11gbly. Creditors ond provlslons are nomially recognised 81 Ihpir selllement 8mounl after olk)wlng for any trade dl8¢ounl due. Page 21 onllnued...
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Notes to the Flnanclal Statements- Gontlnued for tho Year Ended 31 Dec¢mber 2023 ACCOUNTING POLICIES y ¢ontlnued Flnan¢lal In$trym8nts The charfiy only has ffinancial 85sels and flftanclal Ilabilllie$ of g klnd that quallfy as bgsk Itnanclal instiumgnl$. Baslc finanGIo1 Instruments are initwlly recognlsed at transalon volu8 and suequentIY rnep5urod al Ihelr so111omenl value wllh the exceptlon of bank loans whlch Are 8ub8equenlty m8a8ured al amortlsed uslng tho effectfve Inlere81 method. OTHER TPADINQ ACTIVITIES 2023 2022 Fundra161ng ovanl$ INVESTMENT INCOME 2023 2022 Inveytmenl Income Intere31 recelvoble 9.205 4.768 7,139 808 INCOME FROM CHARITABLE ACTIVITIES 2Q23 2022 Activity Grants Charllable Membar8' subicripllon5 Gharilabl6 Joumal subscriptions Charitable Annual conterenc? Charllable Workshop incom Charitable Journal publl$hing income Charllabla Sp&do1 Interest group8 Charllgble Other Incom8 Chwllablg 57.822 107,318 2,650 369,656 195.060 220,589 1,523 55,000 92,601 2,544 328,926 114.508 240,409 13,760 316 954.587 84e.064 Grgnl$ ittelved, Includwj in the above, ar8 as folow8'. 2023 2022 Soclely for the Advancemgnl of Manag8m8nt Sludlgs Au8lrdlian and New Zggland A¢adomy of Managemènt Irish Aeademy ol Managemert 68,989 1,167) ,000 3,000 ge22 continued.,.
THE BRITISH ACADEhlY OF MANAGEWtENT UMITED Notes to the Flnancial Statements- Gontlnu•d for tho Year Ended 31 DeceMr 2U23 RAISING FUNt)s Othertradlng aotlvllles 2023 2022 Purch8888 Invg$tment managoment Costs 2023 2022 Portlollo ThagneI Aggregaie anKJunls HARITABLE ACTIVITIES COSTS Grant lundlng ol aclMtie$ (sea note 81 Supptjrt 0818 {98e note 91 DireGI Co818 ToialB Charltab 455.977 414 220 938.704 CRANTS PAYABLE 2023 2(Y22 chItab Page23 ¢mtinu•d...
THE BRITISH AQADEMY OF MANACEMENT LIMITED Notes to the Flnanclal Statements * contlnued for thp Year Ended 31 December 2023 GPANTS PAYABLE . corrtlnuqd The lolal grants pald lo InslilulKJns durlng the yedr w88 88 folbws.. 2023 2022 Mlddlesex University of London Loughborough UnersitY Qu8en'8 Universrty of BeWa8t Bruhol Unlver8lly Northumbrla Unlversmy Unlvwslly of Manchester Unlver8ily C*f Wesl England LN8rpool John M(Joro9 Unlvgr811y Cranfi8ld Universlty Edlnburgh Napler Unlver$ily Unfversily of Kent Unfver8ty of Canberra unIr$Y of Limgrfck Univer8ity ¢f Valiodolid Cardiff Unfver511y Aston UnlvgTsIIy Qufjen Mary uners5ty of London University of Suffolk UnIver8Y of E65ex Royal HDll¢May Unlversily of London 26,669 32,320 3.998 {2S71 0,969 11,676) so,000 13,5281 3,391 4,000 3,200 6,000 3.020 4.000 3.999 4.000 4,t)00 3,976 3.997 3,986 74,081 Durlng the year Brunel Unlversily repaid £257 and Th¢ Unlversrty of Manch8St8r ryid £1,676 In rèspgct Of unused funds from grants made In prlor years. SUPPORT COSTS Informallon Governwce lechnoh)gy ¢osls Manag8menl Flnance Toials Chaiitablg 297 242 414 220 10. NET INCOMEIIEXPENDITUREI Nel inG0mlexP?ndttUr01 Is slated after chargin(credIt1ng)'. 2023 2022 Depreclatlon- owned o$$els 10.673 Pog& 24 continued...
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Notes to thg Flnanclal Statements. contlnued for the Year Ended 31 Doc¢mbéT 2023 11. TRUSTEES. REMUNERATION AND BENEFITS There were no Iru81e98' rgmunerati¢n or olh8r beneflts for the yoar ended 31 D8¢amber 2023 nor for th6 ye8r ded 31 Decembèr 2022. TYustee8' pensa9 Expense5 relmbur8ed lo 8 Trustees {2022'. 71 during the year amounted to £5,002 P022.. £3,838). Expenses relmbursed lo Councll member8 durlnu th8 year amounted to £1,23212022.. £1,061}. The8e relmbur8ements cons181 oftravel and accommodatlon expen808. 12. SYAFF GOSTS 2023 2022 Wages and sal8ri0S Soclal secuthy co815 Olhor pension costs 294,216 24.601 241,668 21,189 285.410 The 8vwau8 monthly number of employee5 during the y&ar was as follows.. 2023 2022 AdminL4lrallon The numbgr of employ98s whoBe gmployee benofts (exdudlng empbyer p8nslon cost8) exceeded £60,000 was.. 2023 2022 £60,001- £70.000 £70,001- £80.000 The key managemfrnl personnel of the chsrily compiisè the trustees and Ihe Chlel Execullve Offi¢er. The lolal r9muneration of key manAgament personn81 durfng Ihe yearwas £88,65212022.' £85,462). Page 25 eonunued...
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Notes to th9 Fln8nGial StatFmoThts . conllnued lor thè Year End8d 31 Decembgr 2023 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unr8Blrfcled Restrtcled fund lund8 Totsl fun INCOME AND ENDOWMENTS FROM Charftablo a¢tlvitiès chalable 793,084 55,000 848,064 othgr Iiadlng acllvllles Investmpnt incorn¢ 19,339 19,339 Total 820 350 EXPENDITURE ON Ralslng lund8 25,759 25.759 Charltable actlvltltss Charttab 827 820 Totsl 55,000 Net g81n$lllts88981 on Investment5 41.694 NET INCOMEIIEXPENDITURE) 174,9231 174,923> RECONCIUATION OF FUNDS Total funds brought IoN8rd 701.228 701.228 TOTAL FUNDS CARRIED FQRWARD 626 305 14. INDEPENDENT EXAMINER'S REMUNEFi4TION In 2023. Independent Examlnees rernunerallon {ex¢luslve of VAT) amounlgj to £4,500 (2022.. £4.250). for Oth $gJvl¢es totslled £250 (2022.. £2501. Page 26 conllnued...
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Not•s to tha Flnanclal Statements. contlnu•d for the Yèor Ended 31 Docornbor 2023 16. TANGIBLE FIXED ASSETS Improv8ments lo properly Fixluros Cwipuler ewlpment fillirNJ Totals COST Al 1 Januery 2023 Addlllon$ 25,519 8,760 105 31,623 6fj,802 Al 31 Dner 2023 DEPRECIATION Al l January 21r23 Chargè ltsr year 16,313 23,393 45,629 At 31 December 2023 NET 800KVALUE At 31 December 2023 Al 31 Docembgr 2Q2 16. FIXED ASSET INVESTMENTS Ustgd Investrngnls MARKET VALUE Al 1 J8nuary 2023 Addf(io InvBstment Manager Fe88 Uni8allsed galn81llossesl 338,299 144 12,8081 Al 31 D8c8mber 2023 NET BOOKVALUE Al 31 December 2023 342,532 Al 31 December 2022 Therg wer8 no Inve91ment Aet8 oul¥lde the UK. Pag6 27 conlinu8d...
THE BRITISH ACADEPIIY OF MANAGEMENT LIMITED Notes to Ihg Flnanclal Statèmgnts- contlnued for the Year Rnd8d 31 D•cember 2023 16. FIXED ASSET INVESTMENTS- contlnu•d Cost or valuallon al 31 Decfrmber 2023 is repre8enlod by, Listgd Investments V81uallon ry12020 Valuallon In 2021 V4ualion In 2022 Valuation in 2023 C051 16,416 28,772 141,6941 6,897 332 141 17, DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Tradg 48blors Prgpayments arKI aGwied Sn¢omg 11.925 12,957 238,498 18. CREDITORS: AMOUNTS FALLING DUE WITHIN QNE YEAR 2023 2022 Trade ETed5tor5 Soclal s8rIty and olher18xes VAT OlhBr ¢]101$ Deferrod Incomè AGcrued expen888 39.191 7,895 1,533 87.276 47,B97 43,265 9,825 e,799 7,575 71.737 40,046 227.167 Deferred Income ¢omprises m8mbershlp $ubscriplion8 whEch run from lh8 ronewal dale. The amount derred rolale5 to Ihg term of th¢ $ubserfplk)n rélating to th8 next flnanclal year. Deforfwj Inme also relates lo Il¢ket 88les for 8venls occurring after the year end. Page 28 conllnued...
THE BRITISH ACADEMY OF MANAGEMENT LIMITED Not&s to the F5nanclal 8tatements- contlnu•d for the Year Endod 31 Dacamber 2023 g. LEASING AGREEMENTS Mlnlmum18958 paymants under nonthcanc8llabl8 operatlng legses fall due as follm: 2023 2022 thin one year Bthn on& and flv$ years 34,077 39,342 Lea8e payments reoognlsed as an expen8è In the year amounted 10 £40,530. 20, MOVEMENT IN FUNDS Net mov8ment In fund8 At 1.1.23 31.12.23 Unr88trlGted fund8 General fund 628,306 26,983 653,258 TQTAL FUNI)S 26.953 653.258 Nd ntrjvernenl In fun¢Js, Included In the abovo are gs follow8: Incomlng resourGes Re8our¢es expendgd Gains and Movement In funds Unrestrlcted lund8 General fund 929,201 1909,2891 Y.041 26.953 R8strlcted funds Soclèty for tho Advan¢emenl of Managgrngnl SludieB S8,? {B8,9891 TOTAL FUNDS 988 190 968 278 Comparallves for movomont In fund8 Net mvvemenl in fund$ At 31.12.22 Al 1.1.22 UnrestrlGted fund6 Gongral fvnd 701.228 174,923) e20,3QS TOTAL FUNDS 74.923 626,305 Page 29 conlknugd...
THE BRITISH ACADEMY OF MANAGEMENT UMITED Notgs to the Flnanclal Statements- eontlnued for th9 Ygar Ended 31 De¢&mb8r 2023 20. MOVEMENT IN FUNDS-eontlnu8d Comp8rallve net movement In funds, inGluded In the 8bov6 81e as follow8.. Incomlng reGour¢es Rg8ourc@S axpended Galns and Movgment losses In fund$ Unrestricted fund$ General fund 820,350 1853,5791 (41,8941 {74,9231 Re8trl¢ted funds AN7)IMIBAM Collaborallve Res88rth Fund Soci6ty lor the Advancement of Management Studies Irlsh Academy of Management 3,000 13,000) 50,000 150.000) 55,000 TOTAL FUNDS e75,350 41,694 La L74 9231 ANZAMIBAM Collaborntlve Ro6garch Fund.. We run a numbw of research grant 8cFm98 to provide grealor funding opportunllies lo our ¢ommunFty, Soma of th85¢ are run in partnershlp with slster bodles In th& UK and Inlernalionally. Vvilh the AuslrlanlNew Zealand AGademy of Management (ANmI, Socleta Itallana dl Management ISIMAI, and with the Ir18h Academy of Management 11AM) we u80 our grealgr admlnlslJatlve capadty to Nn small grants to ano)urage internalional colkborallon. 8oGlety for the Advon¢?mont of Managoment Studles.. On behav of the Slety for thè AdZncemenL Lq M8nag8ment Sludl89 ISAMSI w& admlnlsler a larger grant SGhemg lo support innovalivp and ¢etaI relevant rèsearch. Irlsh Academy of Management The purpoB8 of Ihls SchEmg1s tg SUPPOrt and advance lntematlon Tesearch Gollaboro1ion$ beiwegn ManagnI re$earchers In Ireland and Ihe UK. The schem& is based on a partnershlp belween Brlllsh A¢ad8my ol MAnagement IBAMI ond Iha Irl8h Academy of MonogeThnt11AM). 21. RELATED PARTY DISCL05URE8 Th8r8 were no related party trans810n for Ihe year ended 31 DEcember 2023. Page 30