REGISTERED COMPANY NUMBER: 0SB68337 (England and Wale$l RÉGISTERED CHARITY NUMBER.. 1117999 Rgport of the Truste08 and Unaudltgd Flnanclal Statements for thg Yoar Ended 31 Dgcelnber 2023 for THE BRITISH ACADEMY OF MANAGEMENT LIM￿E0 THE BRITISH ACADEMY OF MANAGEMENT LIMITED Contènts of the Financlal Statements for the Year Ended 31 December 2023 Page Reference and Admlnislrativ9 Deta118 Report of the Trustees 2 to 13 Independent Examlnerfs Report 14 statement of Flnan¢ial Activltles 15 Balance Sheet 16 to 17 Cash Flow Statem¢nt 18 Notes to thè Cash Flow Statement 19 Notes to the Financlal Statements 20 10 30 THE BRITISH ACADEMY OF MANAGEMENT LIMrrED Refgrenco and Admlnistrallve Dotalls for the Ygar Endod 31 December 2023 TRUSTEES ProfesBor K Mason IPre8ld8nti Dr N Pyper (reelgned 16.S.231 Professor S P Papaglannldi8 {re51gned 31.12.231 Profassor M A èi Professor F Deckor Professor E L Parry (Ghair) Dr R J Glennon DrA J B Robert8 Dr K E Black Professor P Budhwar Professor D B Sgrpong Dr C D Thornton (Treasurer) Professor K J Bebblngton Professor S K Rcbln50n1gppolntsd 1.1.23) Professor Z J Morri8on (ap￿nted 1.1.241 REGk8TERED OFFICE Flve KThig$ 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 fin￿tIal 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 Inte￿i8¢1p1In8ry programme of re888rch and collaborollon to prOd￿e Bn knlegralEd body of knowledga and to 88rv8 a8 an Inler-dlsclpllnary forum for Ihose engaged In 8n academlc examination of all typ85 of organi8al￿n and monwJgment sttKlles'. -to further the developfflenl ol educatton for both manaoers 8nd St￿Jen1B 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. nO￿rkIng and ￿r9e1 development through the life ¢our¥o. As such It alms to pro￿d6 a welcomlng and $upportlv¢, pluralistic uommLtnly of sthlar8hlp In the full flekj of managemgnl. P8ge 2 THE BRrrisH ACADEMY OF MANAGEMENY LIMITED Report of tho TTU8to forthe Year Endad 31 Docembor 2023 OBJECTIVES AND ACTIVITIES Slgnlfl¢ant actfvitlgs The Brllish Académy of Managemgnt'8 prfndpal 8¢tlvKy 18 lo support and represent Ihg community of men8gemenl academlcs and pmrnole the development of managemgnl research and sGholarshlp wilhln the Unlled Klngdom and internationally. The Acadamy 18 engaged in development of capacity for publk good, offerB signllicanl 6UPPOrt to dc¢toral stud￿1$, 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 Sp￿181 Interest Group8-, - Organl$ing and hosting the Academy's annual conlerence., - Organising and hosting a doctoral symposium for PhD sttJdenlB: - Organlslng and hoBting dovelopm6nl progranNnos for Dlreclorg of R￿earch and Leadèrs of Engaggmenl.. Organl$lng awj hosllng d?vebpmgnt progr8mmes for teachlng-focu8ed #nd re8aarch-focu8ed mi&car8er acad8mics-, Runnlng a Peer R￿jeW 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 di￿￿U￿1@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 $u¢xa8sfully buift our In¢om¢ and controlled co818 80 that ￿ wgre able lo rgach a naar breakovttn outturn at the end of 2D23. I￿oMe divei$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 faC￿g 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 dIff￿ul1 pgriod. 85 a rasvll ol target￿1 Stratag￿ aC￿on5. 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 acadan￿a and for our planet. through BAM'S activI￿as. 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 $¢holarg acros9 tho whole acadomlo Gareer. through eapaclty bulldlrKJ ¥ctI￿lIes.. lo pmvidg advocacy and con8ullallon In relatlon lo tho development of effBCIl￿ pollcy and pracllce wfthln thè sector. Flvo new 8lraloglc prforllle8 wor8 idenllfied as wer8 five 8UPPOrtlng prlorttles. Wè will.. - facllltale the Impact of buslno85 Bnd management r686arch on practice and pollcy., - ¥upport ihe sector In addre88lng the challbnges brought by artilida inlelllgance and dlglllsatDn', promole wellbolng and p08111ve monto1 health in bu¥iness management acad8mlcs snd ￿￿toral rosoarchgrs; SUPPOrt tho devek)pmgnl of good Equalliy, DIVer8￿Y, Inclu61vlty and Resp￿1 (EDIRI pra¢tkè across Ihe Sector., - ensure sustainabilly18 Cantr￿ to all BAM'S a¢lfvlllas. To support Iheso new slraleglc prforfiies. we will., - double BAM'S membeishlp by 2028; Pag8 4 THE BRITISH ACADEMY OF MANAGEMENT LIMITED Rgport of the Trustees for the Year Ended 31 Docember 2023 - str6ngih8n 8xisliig partnershlpg, and create naw p8v1The￿hlP9, wllh ￿?th nat(onal and Internallonal bodb5- - engage Coundl, Fell¢Jws, CompanvJns and SIG leadershlp a5 key èk8m8nts of the BAM comrnunlly. in Ilne with our 8tralegk prlorllle8: revlew the a¢tlvill¢s of 8AM lo ensure Iholr long-l&rm future su$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 $88k to I￿r￿se the Impact of our sector on pracllce and policy and to support It In addressSng the challenges that 11 1$ 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 Con￿nUe 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 or81￿ul 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 (Be￿mIng 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 drO￿1n '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 I￿1r 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 s￿d 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 conferer￿9 lo allow a b mlxe'breathing sp8Ge' In the Pfogramme. PwJe6 THE BRITISH AGADEMY OF MANAGEMENT LIMITED Roport of th• Tru$t••s for the Yaar Ended 31 December 2023 STRATEGIC REPORT Achl8v8ment and porfornmnc PubllGaÉlons Ovrloum￿5 - Brftlsh Jcmjmal of M8nagemenl and InlernalknnBI Joumal of Management Revlew8 - conlthue to be lisled in the lop quartllos in Buslnesg and Managernenl. In 2023 we wmp161od the previous publishing partner8hlp agreement wllh Vmley and welcomed the riow one Irom January 2024. gknng the bu$knes8 an m8nagem8nt research community 8 conllnued guarantee of excell*nt, values.led pubWGatton¥. Usgge has contlnued to grow wllh a $t98p increase Sn submlsslons. In 2023 our lournalB recelved 1,600 submI￿lon$ 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 Ir￿reaBed 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 pub￿s1*d Ks fourth volume - Impact in Doctoral Edu¢ollon In earfy 2024. Work has conllnued during 2023 2024 on a f￿h￿rnIng BAM.Ethrd Eluar hand￿0k 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 Internauc￿al 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 9ward￿j In 2024, INlh the Society for the Adv8nc8menl of Mgnagemenl Sludles ISAMSI wa redeveloped the annual gronl scheme. fol￿ng 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 $0 as effectiv8￿ a8 we would wlsh. Page 7 THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of the Trust9¢5 for the Year Ended 31 Dec6mb8r 2023 8TPATEGIG REPORT Achl8vgm8nt and p8rfornianc Awards Givlng publlc re￿nIt￿n lor excellence and leader8hlp In our communlly Is 8n Imporlanl part of d8lwadng our mlssion. In 2023 we made a number of aw8rd5, including overdue rewgnilion of the outStandlng and gxt8n8lve work carrfed out by our past Chair and Pr6sldenl, Profe8$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 me￿al 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 ¢Ontrfbul￿n lo $cholarshlp and lo BAM.. PTofes$or8 Carol Atkln8on, A$h16y BraganzB, Graeme Curflè, Natasha Maulhner. Thanos PapadOp0￿0s, A￿son Pullen and R(￿h Sealy. We also prwsed PmfgS8or stephen￿ Decker for Fellow8hlp of the Academy ol Soc181 Sclence8, whknh wos duly conferred. Thlg WLvk has ¢ontinupd in 2024 and now awards have been cr&atod to recognlga the rlslng stars In our communlly. A rwN compeliilve award commemoralos the latp Professor John Burwyne FBAM and h18 eontrtbullon lo Managamenl Leamlng and has begn kindly endowed by h15 wklow, TnKli. Ai our 2023 Conference we also remembered the worfc of Profwdsor Geoff Easton and Professor Robin Wensley FBAM and are inaugurating a new Robin VVen8ley memorial lecture 8erfg¥ with Warwlck 8u$ine69 Sthool. Llvlng our values Our work PTomoling EDIR has conllnued, ond we r8maln a Sector leader in pr*￿tIng bes1 practice. Our inaugural Vicg-ChaSr fcr Sustalnabllity, Profe8s0r Jan Bebblngton, worked wllh the offlB8 team on 8u$l8inablllly for our own act￿ll1eS. 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 cO￿lI10n. 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 & publ￿at￿n8. 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 eXplo￿n9 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 A￿dem￿S. Pagp 8 THE BRITISH ACADEMY OF MANAGEMENT LIMITED Report of the Trn￿te¢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...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 D￿ldendS 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 D￿l￿endS r¢¢elved Oncro888lld8crease In deblors Incr￿6 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 mam￿r5 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 fina￿la1 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 Uncert￿ntIeS 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 repo￿n0 dale, tha balance Is deferred over the rem?Inlng 18rm of thè SUb￿￿PtIon. On the bas18 thal 8ubScTipt￿ns 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 pro￿ble -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 ol1r￿ated 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 spec￿lC 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 p￿slon 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 transa￿lon volu8 and su￿equentIY 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 DeceM￿r 2U23 RAISING FUNt)s Othertradlng aotlvllles 2023 2022 Purch8888 Invg$tment managoment Costs 2023 2022 Portlollo Th￿ag￿ne￿I 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 ch￿Itab 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 Un￿ersitY 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 unI￿r$￿Y of Limgrfck Univer8ity ¢f Valiodolid Cardiff Unfver511y Aston UnlvgTsIIy Qufjen Mary un￿ers5ty of London University of Suffolk UnIver8￿Y 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 inG0m￿lexP?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 cha￿lable 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 D￿n￿er 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 A￿et8 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 s8￿rIty 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 d￿erred rolale5 to Ihg term of th¢ $ubserfplk)n rélating to th8 next flnanclal year. Deforfwj In￿me also relates lo Il¢ket 88les for 8venls occurring after the year end. Page 28 conllnued... THE BRITISH ACADEMY OF MANAGEMENT LIMITED Not&s to the F5nanclal 8tatements- contlnu•d for the Year Endod 31 Dacamber 2023 g. LEASING AGREEMENTS Mlnlmum18958 paymants under nonthcanc8llabl8 operatlng legses fall due as follm: 2023 2022 thin one year Bth￿n on& and flv$ 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 8cF*m98 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 Auslr*lanlNew Zealand AGademy of Management (AN￿mI, 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 S￿lety for thè Ad￿ZncemenL 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 Manag￿￿￿nI 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 trans8￿10n￿ for Ihe year ended 31 DEcember 2023. Page 30