Registered number.. 06389120 Charlty number. 1123023 COMMirrEE ON PUBLICATION ETHICS UNAUDITED TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
COMMirrEE ON PUBLICATION ETHICS (A company limited by guarantee CONTENTS Page Roference and administrative details of the charity, its trustees and advisers Trnstees. report 2-10 Independent examiner's report 11 Statsment of financial activities 12 Balance sheet 13 Notes to the financial statements 14-21
COMMITTEE ON PUBLICATION ETHICS (A cornpany limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Daniel Kulp. Chair (became Past£hair on 1 May 2025) Nancy Chescheir (vI-chair} (became Chair on 1 May 2025) Tara Lee Hoke, Secretary {stepped down at end of term on 1 May 2025) Michael Mfise, Treasurer (stepped down at end of term on 1 May 2025) Caroline Porter Deborah Kahn (Resigned 9 June 2024) Tim Kersjes Howard Browman Trevor Lane Susan Garfinkel Emilio José Sanz Alvarez James Vlfilliams Mwangi Kigera Rachel Safer, Treasurer (appointed 1 May 2025) Heather Tierney, Secretary (appointed 1 May 2025) Company registered number 06389120 Charlty reglstered number 1123023 Roglstered offic New Kings Court. Tollgats, Chandlerfs Ford, Eastleigh, Hampshire S053 3LG Company secretary Natalie Ridgeway. Executive Officer Independent Examiner Danielle Griffin. FCA. Moore (South) LLP, Suite 3, Second Floor, Friary Court, 13-21 High Street, Guildford, Surrey GU13DG Bankers Co-operative Bank plc, PO Box 250. Delf House. Southway. Skelmersdale, WN8 6wr Solicitors Blake Morgan, New Efjngs Court, Tollgate. Chandlerfs Ford. Eastleigh. Hampshire. S053 3LG
COMmIEE ON PUBLICATION ETHICS IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report togetherwith the financial ststements of the Committee on Publication Ethics (COPE) (the company) for the year ended 31 December 2024. The Trustees confimi that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's goveming document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) second edition. Structure, governance and management • Constitutlon The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 3 October 2007 as amended by Special ResolLrtions dated 18 February 2008, 3 May 2011, 22 March 2013, 17 April 2015, 9 September 2015, 12 December 2019 and 25 September 2025, and is a registered charity number 1123023. The Trustee Board and Council are the constitutional members of COPE. The principal objects of the company are the promotion for the public benefit of ethical standards of conduct in research and ethical standards in the publication of scholarly joumals. Method of appointment or el8Ction of Trustees The Trustee Board (mwmum of 12) consists of the Officers. namely: Chair, Vice-chair; Secretary; Treasurer, Immediate Past Chair, elected members, and those who are c(x>pted. offir5 and the Trustee Board are elected by the full Constitutional Members (Trustees and Council Members). The Trustee Board also appoint a Chair-elect from within the Constttutional Membership who serves for 12 months before taking on the role of Chair. Up to four Trustees may be co-opted by the Trustee Board belween general meetings. • Policies adopted for the induction and training of Trustees Upon appointment Trustees are provided with a copy of the AleS of Association and the Regulations of COPE" they are also provided with an online briefing session, and a written document outlining the responsibilities entailed 'On being a Trustee of COPE.. Add'Onal1y, they are required to access an 'eLeaming' module which outlines COPE processes and procedures. This introduction to COPE is usually conducted by one or rn0 of the current OffirS and the Executive Officer. Each Trustee is also required to complete a Conllict of Interest form which is updated annually and postsd on the COPE website. Subsequent training is provided as needed. In addition, we nominate a current Twstee or Council member to be a mentor to each new Trustee. Ad hoc training ts carried out as and when necessary to ensure that Trustees are kept abreast of developments with regard to the legal and other obligations of COPE as a Registered Charity and a Company Limited by Guarantee and any of the resultant obligations of the Trustees.
COMMITTEE ON PUBLICATION HIC$ (A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 • Organlsatlonal structure and decision making The Trustee Board (http:Ilpublicationethics.orglabouVtrustees) is ultimatety responsible for the financial. legal and business operations of COPE as a charitable business and it gives authority to Council, the Executive Officer and the COPE team {http:Ilpublicationethics.orglcope-Staffj to manage the day to day affairs of the organisation. The Trustees of the charity are also the directors of the limited company. Day-to-day operational activtties of the business are rnanaged by COPE'S full time Executive offer and a fvll time Operations Manager. The administration of the business activities of COPE are carried out by the full time Administrator. Managing the bank account and all financial transactions is the responsibility of the Executive Officer with oversight by the Treasurer and Finance subcommittee. The COPE website is managed by a freelan Web Manager. A fvll-time Senior Membeiship Administrator is employed to review and administer the applications from potenlial new members. A freelance Engagement and Outreach Offir manages COPE'S MMunIcatIOnS and engagement with the membership, supported by a freelance Designer who develops and implements all of COPE'S design and branding needs. A freelan Facilitation & Integiity Offir administers the COPE complaints process. Risk management The principal risks identified with regard to COPE and its operations, and their mitigation, are as follows: (i) Litigation arising from advice, gUKlan or recommendations offered to authoTS, editors, publishers and publishing staff and others with regard to ethical issues raised in connection with published academic (learned) joumals. Full insurance cover for professional indemnity is provided at COPE'S expense for Twstees and Counctl members and ft)r the Executive Officer and COPE Team acting for and on behalf of COPE. The risk is graded as low-to-medium on the basis that COPE specifically does not offer adjudication orjudgements with regard to cases involving ethical issues brought to its attention. (li) Loss of subscription income. COPE will regularly review subscription income to ensure it is providing value for members. that the subscriptions are in line industry expectations, and that any changes ensure broadty ttie same income year on year. Two policies are in place to support a level of financial stabilty". 1) increasing subscription fees by the Retail Price Index (RPI) each year when it is prudent to do so., and 2) diversifying our income streams by seeking new membeis in underrepresented disciplines and wuntries within the COPE membership. The Finance subcommittee. led by the Treasurer and supported by the Executive Officer, is in charge of managing this policy. (iii) Loss of data. Data relating to COPE'S business and financial affairs are retained by the Executive Officer and COPE Tearn and held in a secure location as electronic copies in the 'cloud' on Google Drive and two online management systerr6: Basecamp and Monday.com. No electronic files are held on computer hard drives by the Executive Offi[ or any members of the team. In addition, the database of COPE Members is retained on the COPE website which is managed separatety under contract by the company responsible for general rna1ntenan and development of the COPE website. This company provides for automatic back-up of COPE data. The risk of loss of irrecoverable data is regarded as low-to-medium. {v) COPE continually reviews its consts"tution to ensu good governance and oversight which is now the sole province of the Trustee Board and a project to actively review the Articles of Association and Regulations took Pla during 2025 and is due to be approved shortly.
COMMITfEE ON PUBLICAlloN EfHICS (A ¢ompany Ilmltsd by guaranteo) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Objectlves and Activities Activities for achieving objectives and acting for public benefit In planning our activits'es for the year we have kept in mind the Charity Commissioners guidance on public benefft. COPE was established to provide a range of services and products aimed primarily, but not exclusively, at edttors and publishers of scholarly joumals and designed to provide advice and guidance on best practice for dealing with ethical issues in journal publishing. SIGNIFICANT ACTivrriES Strate After an extensive and lengtty consultation and discussion prosS, COPE published its new strategic plan for 2024-2027 and beyond. The strategic plan has been guided by a clear vision: °to make ethical practice the norm in research and publishing.. This is pursued through guidance, education, and leadership to uphold integrity. collaboration to address challenges in publication ethics, and a strong commitment to dNersity, equity. inclusivity. and accessibility- The goal is to ensure that research is published honestly, transparentty. and ethically. The strategic plan consists of 4 key goals.. Integrity, Education, Collaboration and Diversity, Equity, Inclusivity and AccessTbility. All 4 key goals are supported by clear objectives and a set of new COPE values. More can be seen on the COPE website at: https:Ilpublicationethics.orglabouUwhat-we- dolstrategic-plan. Handlin concems raised a ainst COPE members In January 2023, COPE publishedan editorial in the monthly newsletterwhere itcommitted to athorough review of its facilitation and integrity proc to ensure it is still fit for purpose in today's landscape. During 2023 and through 2024 a working group have been working steadily to consider the changes that are necessary to this and the new policy and process is due to be launched by the end of 2025. Membershi licats'on rc>cess In early 2023, COPE cornmitted to a wide-ranging review of its membership application process to ensure that we are accepting appropriate members into COPE Membership. An extremely complex process, involving many different systems and individuals at different points in the process, a working group has been steadily working through the changes we need to make to the prOS$. The first phase of th8 Pross. providing guidance on the website detailing COPE expectations plus guidance for potential joumal members on the application process - as well as a new application form and clearer triage process - was launched in August 2025. The second phase will review the subcommittee assessment prOs5 and guidan needed for other membership types. United2Act Summit In 2023 COPE, with STM Association, held a joint summitto tackle the issues of paper mills. The summit was held virtually, and attended by key repsentiveS from the global stakeholder community governments, institutions, researchers. fvnders, publishers and a few others with particular knowledge and Influen related to research integrity. The Summit led to the publication of a consensus statement signed by the participants and others post-summtt. Further to this, COPE and STM created the United2Act initiative, a joint projert which has seen the implementation of a number of working
COMM[EE ON PUBLICATION ETHICS (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 groups who are all leading diffent initiatives to help in combatting paper mills. The working groups were tasked with providing.. Education and awareness. including the creation of educational tools arKI Tesources Improvements to post-publication coThections More research on paper mills Support for the development of trust markers Continuing to facilrtate dialogue betrween stakeholders about the manipulation of the publishing prOsS This initiative achieved its objectives for the first phase in June 2025 and moved into a second phase with new leadership and objectives. At this time, United2Act is no longer an official project of COPE and STM'S, but are a colEaborative partner and we offer some administrative support. New website The COPE website underwent a major refresh during 2018119 to enable easier discoverability of resources and guidance and the new site was launched in 2019. As websites continually evolve. and owing to the need to move its content management system due to the existing verston nearing end of life, we circulated a tender for a new website partner in 2022. This extensive and intensive ProS5 culminated in COPE contracling with CTI Digital. sin November 2022 we have been working closety and intsnsively with CTI Digital to develop a new website. The first phase of the new websile transferring all COPE to the new site- was launched in December 2024. The second phase will see the website connect to a new CRM to support the membership database. This will be implemented during 2026. The first phase of the new website incorporated- a refreshed design and improved layout to support cr content improvements to the search and filtering better acSsIbl11ty and device optimisation EVENTS COPE Forum COPE holds a virtual Forum meeting. four times a year (all are virtual), at which members can raise and discuss specific cases and general ethical issues. COPE then undertakes to publish written Summaries of these Forum discussions (suttably edited and anonymised to ensure that identifiable details such as names of individuals. journals and institutions are removed) on the COPE websTte with free, unhindered access for anyone visiting the website. A classification hierarchy is used to allow all interested users of the website to find cases on specific issues more easily. The Forum reports thus form part of a developing database of 'case lav/ relating to ethica issues in journal publishing and he a valuable and valued Fesource for those inVoed with ethical mattets. COPE members and non-members alike. Member queries or cases that are unable to wait for Forum, or where they would prefer them to be discussed in confiden, are responded to internally via Council. At each Forum, COPE also present a discussion topic which is the first step in understanding the requirements for any potential guidance that may be Uired from COPE. The topics discussed at Forum in 2024 include:
COMMirrEE ON PUBLICATION EfHICS (A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEIJIBER 2024 Ethical considerations against watchlists Publishing when English is not your first language Plagiarism in 2024 Revisiting expressions of concern Publication Inte Week COPE has been holding in person. one day seminars for many years. During the pandemic, these moved online and Sin then has remained a virtual offering as we are able to a¢h more of COPE'S global membership. In 2023, the seminar was rebranded as Publication I ntegrity Week- the event was very successfijl and it was agreed that is would now run as an annual event. Publication Integrty Week in 2024 contained events on topics such peer vIeW. paper mills, authorship, plagiarism, inclusivity and interpretation of qualitative data. Over 1000 members registered across all sessions with an attendance rate on average of about 65%. Edited videos of each session were published online after the events for members unable to attend. 2025's week-long event is shaping to be even bigger than previously with presentations on: why ethics matters in scholarty publishing a conversation with early leaders of COPE how Al is changing scholarfy publishing weaponisationlcornmercialisation of research changing scholarly publishing as we know it wow tschnology is being used to support publication of research equitable access to scholarly publishing indigenous data sovereignty handling freedom of expression and controversy in scholaty publications best practices for cooperation techniques and teamwork in publication sleuthing building communities through trust markers boosb'ng incentives for ethical conduct addressing misconduct and upholding integrity at universities and research institutes authorship disputes and authorship manipulation research integrity tools.. challenges, experiences, and ernerging best practice ai use: policies and reality Other events In addition to Publication I ntegrity Week, dullng 2024. COPE held events on: Al (an online 'lightning talk.) text recycling (an online 'lightning talk.) an introduction to publication ethics. This was held in person. in Split, Croatia with approximately 40 members present from across the region. an online introduction to publication ethics wotkshop aimed primartly at members from India. Pakistan, the Middle East and China. Hosting of a podcast interview with representatives from CrossRef and Retractionwatch garding CrossRefs acquisition of Retractionwatch's retractions database was also held by COPE and published online.
COMMIThEE ON PUBLICATION ETHICS (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 RESOURCES COPE has produced specific guidance and discussion dcKuments on a number of issues. During 2024 the following were developed or updated: COPE Positions A new resour, COPE pubtished 36 COPE positions. These were devek)ped to provide COPE'S formal position on a particular issue. Purposefully brief. they provide a succinct overview of COPE'S position with links to the fuller guidan for deeper reading (where available>. Flowcharts: New. Concurrent submissions of a manuscript to lIt1Ple journals New. Vthen instttutions are contacted by joumals Revised. Inappropriate image manipulation in a published artide Revised. Vthat to consider when asked to peer review a ffAnuscript Guidelines: Revised. Cooperation beiween research institutions and joumals on research integrity and publication misconduct cases In 2025, efforts to release new guidance and update existing guidan continued apace and the folloviing guidan was published: New guidelines on Expressions of Concern. A revision of the Retraction guidelines. New guidelines on author fees and wapiers. New guidelines on handling guest edited collections Revision of the reviewer suspected to have appropriated an autbovs ideas or data fiowchart Revision of the how to recognise >tential manipulation of the peer review process flowchart. Additional new OT revised guidance is coming soon and this cover topics such as: Claiming affiliations in scholarfy publications (new guidance) Identifying funding sources in publicatK)ns (new guidance) Revision to the authorship flowcharts Updating the citation manipulats'on discussion document and converting it into formal COPE guidelines Revision of the short guide to ethical editing Consideration of the issues around GDPR and other data privacy laws and how this affects COPE guidance A new discussion document on Watchlists. New discussion document on Best pral¢e$ arnd identity and name changes. New guidance on Data availability. A new discussion document on Historical offensive content. New guidance on Intelleclual propety and copyright New guidance on Claiming affiliations in scholarly publications. New guidance on Author behavioural misconduct
cOMMIEE ON PUBLICATION ETHICS (A ¢ompany Ilmtted by guarantse) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Additional guidelines or discussion document that COPE offers, includes: 'Joumals' Best Practices for Ensuring Consent for Publishing Medical Case Reports.. 'Short Guide to Ethical Editing for New Editors,. 'Ethical guidelines for peer vIeWerS.. Editors. relations with leamed societies., which was revised and renamed as 'Guidelines for management relationships between society-owned joumals, their society and publishers,. Achievements and performanco Revlew of actlvities During the period under review, that is the calendar year ended 31 Dember 2024, COPE continued to attract and recruit newjoumal and publisher members. As of September2025, 14,813 members were Sisted on its website - an increase of more than 600 Sin the end of 2023. Nearly all major publishers have agreed to sign up their joumals as members of COPE by paying a subscription fee., however, COPE is reliant on the publishers to provide detailsof theirjoumals, and to infomi COPE of any changes. It is therefore not always possible to give an exact figure of the number of COPE journal members at any specific date as there is often a delay before the publisher updates its records. The launch of COPE'S university and research institutes membership in May 2022 saw eleven universities agree to become members. During 2024 an additional three unrversities joined COPE and the initiative is due to be launched more widely during 202512026. Financial review The overall result for 2024 was a deficit and has resulted in a decrease in total reserves: Opening balance. reserves at 01 January 2024 £387,276 (li) Closing balance. reserves at 31 Dernber 2024 £343,304 The year end deficit of £43,972 represents a decrease from a surplus in 2023 of £33,149. Operating costs increased from 2023 to 2024.. Total costs 2023 £533,158 (li) Total costs 2024 £682,134
COMMIThEE ON PUBLICATION ETHICS (A company Aimited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The increase in costs from 2023 to 2024 was £148.976. The main reasons for the rise in costs in 2024 relate to: a) major InveStEnt in the COPE website to better support our useTS ability to find the guidance and content that support their needs. This entailed a full refresh of the design, layout and navigation features. b) Supporting United2Act. a joint project, in collaboration with the STM Association, on working to eradicate paper mills. c) An increase in meeting (x)sts owing to a COPE 'retreaY and supporting attendance at the Wodd conferen on Research Integrity. Investment policy and perforniance COPE is committed to the adoption and implementation of ethical policies with regard to its financial investments. As such its banking arrangements reviewed to ensure that any monies held by COPE are secure. COPE has since opened an additional savings account with the Nationwide to hold some of its resetves to spread the risk in G3se of a banking issue. Reserves policy It has been agreed by the Counal that it is appropriate for COPE to maintain strategic financial reserves sufficient to accommodate unavoidable operating costs for a period of 12 months in the event that Ihe decision were to be made to dose COPE and ase activities. The Council has agreed that the amount for the strategic reserve should be at least £225,000 - this amount to be reviewed and agreed annually. The figure has been set largely to aco)mmodate the costs of the Executive Officer. Operations Manager. Senior Membership Administrator. Administrator and freelance staff (Engagement & Outreach Officer. INebsite Manager. Designer. and Facilitation & Integrity Officer): COPE does not incur significant overhead costs such as office accommodation or capital assets. To the period ending 2024. the actual reserves were slighuy higher than the £225,000 agreed. To return the reserve closer to the agreed level during 2024 Ihe Trustees have.. Committed to a large, muRi-year project whtch will transform ourdigrtal offering for our members. As mentioned elsewhere. we have released phase one of a three-year project to upgrade and transfoTm our website. offering a betler experience for our members. We will also be implementing a CRM (Customer Relationship Managetnent system) which will allow us to more effectively communicate with our members as well as our members engage more easily with COPE. This is a significant project. with a significant budget attached, which will be paid for out of the surplus we have accrued. Plans for the future • Future developments COPE will continue to investigate and, where appropriate, develop and make available, relevant new services and resources for its Members and others. Amongst those planned for 2025-2026 are: Opening up general application for University & Research Institutes.
COMMirrEE ON PUBLICATION ETHICS IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The implementation of its new strategic plan. ensuring that COPE'S operations can support the goals and objectives. A tender will be circulated during 2026 for a Customer Relationship Management (CRM) system. This will help COPE to support its members better with more targeted reSoUrS and events. Further development will also be undertaken on its website during 2026 to integrate the CRM with the website. Further collaboration WFth its partner organisations, including STM. DOAJ, WAME, UKRI etc. Trustees Responsibllltles The Trustees (who are also directors of the committ on Publication Ethics for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Stsndards (United Kj'ngdom Generally ACpted Accounting Prath"ce). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charTtable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistsntly; observe the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and pruden(. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charitable company will cont'nue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordan with the Statement of Recommended Practice. Accounting and Reporting by Charities, and in accordance wrth the Financial Reporting Standard (FRS) 102 section 1A for Smaller Entities. In preparing this report the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the Trustees on and signed on their behalf, by: Nancy Ch8scheir, Chair Dated: September 29, 2025 10
COMmIEE ON PUBLICATION ETHICS (A company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinefs report to the Trustees of Committee on Publication Ethics I report to the charity trustees on my examination of the accounts of the company for the year ended 31 Dernber 2024 which are set out on pages 12 to 21. Responsibilities and basis of report As the charity trustees of the company (and also its direthrs for the purposes of company law} you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts ot the company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respecl of my examination of yoijr company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions gNen by the Charity Commission under section 145(5)(b) of the 2011 ACL Independent examinetrs statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of 2011 ACL I confirm that l am qualified to undertake the examination because l am a member of ICAEW. which is one of the listed bc¥Jies. I have completed my examination. I confirm that no matters have come to my attents.on in connection with the examination giving rre cause to believe that in any material respect: accounting Tecords were not kept in respect of the company as required by section 386 of the 2006 Act. or the accounts do not accord with those records: or the accounts do not comply with the accountirKJ requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordan with Ihe methods and principles of the Ststement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accoTdance viith the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other nBtters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Danielle Griffin FCA Moore (South) LLP Suite 3, Second Floor Friary Court 13-21 High Street Guildford Surrey GU13DG 11
COMMirrEE ON PUBLICATION ETHICS (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Unrestricted funds funds 2024 2023 Note INCOMING RESOURCES Other trading activities Investment income 636.230 1,932 565. 669 638 TOTAL INCOMING RESOURCES 638,162 566.307 RESOURCES EXPENDED Charitable activities Other 675,274 6,860 525,304 7, 854 TOTAL RESOURCES EXPENDED MOVEMENT IN TOTAL FUNDS FOR THE YEAR~ NEr (LOSS)ISURPLUS FOR THE YEAR 143.972) 33,749 RECONCILIATION OF FUNDS: Total funds at l January 2024 387 276 354 121 TOTAL FUNDS AT 31 DECEMBER 2024 The results for the year derive from continuing activities and there are no gains or losses other than those shown above. The notes on pages 14 to 21 fom part of these f nancial ststements. 12
COMMirrEE ON PUBLICATION EThICS IA company Ilmlted by guarantee) REGISTERED NUMBER: 06389120 BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Note CURRENT ASSETS Debtors Cash at bank 65,857 5,568 428,879 354.305 434,447 LIABILITIES CREDITORS: amounts falling due within one year 11,001 NET CURRENT ASSETS 343,304 387 276 TOTAL ASSETS LESS CURRENT LIABILITIES 387.276 CHARITY FUNDS Unrestricted funds 12 343,304 387.276 For the financial year ended 31 December 2024 the company was entitled lo exemption from audit under section 477 of the Companies Act 20[ relating to small companies. Directors. responsibilities: The members have not required the company to obtain an audit of tts financial statements for the year in question in accordan with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime and the charities Statement of Recommended Practice and Financial Reporting Standard 102 section 1 The financial statements were approved by the Directors on and signed on their behalf, by: i eeLL Nancy Chescheir. Chair Dated: September 29. 2025 The notes on pages 14 to 21 form part of these financial ststements. 13
COMMirrEE ON PUBLICATION ETHICS (A company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES 1.1 Company Status The company is a company limited by guarantee and has no share capital. The company is incorporated in England & Wales. The company is governed by its association of articles completed on 3 October 2007, and subsequent arnends as noted on page 2. The company VRS registered with the Charty Commission on 29 February 2008. registered number 1123023. The addsS of the registered office is given in the Referen and Administrative Details given on page 1 of these financial statements. The members of the MpanY are the Trustees named on page 1. In the event of the company being wound up. the liability in respect of the guarantee is limited to £1 per member of the company. The nature of the charities operations and principal activities are explained in the Trustees Report. The company constitutes a public benefit as defined by FRS102. 1.2 Basls of preparation of financlal ststements The financial statements have been prepared in accordance wrth Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordancewith the Financial Reporting Standard applicable in the UK and Republic of Ireland, SORP (FRS102) (second edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) section 1A and the Charities Act 2011. The financial ststernents are prepared on a going concem basis under the historical cost oonvention. The financial statements are prepared in sterfing which is the functional currency, and have been rounded to the nearest pound. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The charity has taken advantage ofthe exemption not to produ a cash flow under SORP (FRS102} (Second edition). 1.3 Golng concern At the time of approving the accounts. the Trustees have a reasonabFe expectation that the company has adequate resour$ to continue to operate for the foreseeable future. The Trustees conts'nue to adopt the going concem basis of accounting in preparing the financial statements. 14
COMMITTEE ON PUBLICATION ETHICS (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.4 Incomlng resources All incoming resources are induded in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income, the amount can be reliab]y measured and it is probable that the income will be received. Subscriptions are raised from the date of acceptan to 31 December each year. They are recorded in full when receivable. Any subscriptions that are waived in the year are induded as subscription income and as a grant payable. other income is recorded when it is received. Interest receivable is accounted for on an accruals basis. 1.5 Resources expended All expenditure is accounted for on an accruals basis and is inclusive of irCoVerable VAT. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is prOba1e that the setllement will be required and the obligation can be measured reliably. The charity's seminar costs are allocated to direct charitable expenditure. Expenditure on charitable activities includes grants with relnI support costs and govemance costs. Grants are chged in the year they are approved for payment. No grants are deferred. other expenditure indudes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 1.6 Allocation of support costs Support costs are those functions that assist the work of the charity. but do not diTectly undertake charitable activities. Support costs include salaries and administrative expenses. These costs have all been allocated to charttable acttvities as there is only one activty undertaken by the charity. 1.7 Debtors Trade and other debtors are recognised at the settlernent amount due after any trade discount offered. Prepayments are valued at the arnnt prepahj net of any trade discounts due. 1.8 Cash at Bank and In Hand Cash at bank and in hand includes cash and short term highly IiquTd investrnenls with short maturity of three months or less from the date of acquisition or opening of the depostt or similar account. 1.9 Credltors Creditors are recognised when the charity has a present obligation resulting from past events and can be measured or estimated reliably. Creditors are recognised at their settlement amounts. 15
COMMrrTEE ON PUBLICATION EfHICS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.10 Pension Costs The charitable npanY pays contributions into a defined contribution scheme for its eMployS and the pension charge represents the amunts payable by the charitable company in respect of the year. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. 1.11 Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 1.12 Foreign currencies Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate beeen the fvnctional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balan sheet date are translated using the closing rate. 1.13 Unrestrlcted funds Unrestricted funds are subscriptions and incoming resources receivable or generated for the objects of the charity without further speafied purpose and are available as general funds. 1.14 Judgements and Koy Sources of Estimation Uncertainty In the applicatv)n of the charitable company's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period which the estimate is pvised where the revision affects only that period, or in the period of the reViSn and future periods where the revision affects both current and future periods. The Trustees do not believe that the are any judgements or estimates that affect these accounts. 16
COMMirrEE ON PUBLICATION ETHICS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INCOMING RESOURCES FROM OTHER TRADING ACTMTIES Total funds 2024 Total funds 2023 Subscriptions Subscriptions waived Other income 551,582 82.853 495.472 70,197 636.230 565,669 All income from other trading activities foi 2024 and 2023 was unrestricted. RESOURCES EXPENDED ON CHARITABLE ACTMES Total funds 2024 Total funds 2023 Grants Payable (Note 5) Seminar costs Website costs Support costs (see below) 82,853 56.042 189.897 70,197 37, 798 95,679 321630 525,304 675,274 All expenditure on charitable activities for 2024 and 2023 was unrestricted. ALLOCATION OF SUPPORT COSTS Total 2024 Total 2023 General administration Administration Research Insurance Meeting costs PR & Marketing Personal developThnt and training Sponsorship Untversity membership and administration Bad debts United to Act 66,546 189.098 67,317 171.535 13. 743 2.331 3.604 33.109 2,334 2,509 14,992 26,892 1.782 910 26,595 24,515 2,258 346,482 321,630 I support costs are direclly attributable to the Charitable Activities. 17
COMPAIThEE ON PUBLICATION ETHICS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER Total Funds 2024 Total funds 2023 Independent examinerfs fees Accountsncy and bookkeeping Legal and professional fees Governance costs 2,500 2.925 1A01 2,380 3,368 1,304 802 7,854 6,860 All expenditure on other costs for 2024 and 2023 was unrestricted. Included in the above are governance costs totalling £4.360 (2023 - £5,385). ANALYSIS OF GRANTS PAYABLE 2024 2023 Individuals Subscriptions waived 82,853 70,197 The subscriptions warrfed relate to 356 members (2023 - 337) rNIng grants of various amounts, depending upon the number of journals published. TRUSTEES During the year, no Trustees received any benefits in kind (2023 - £Nil). No (2023- no) trustees reiVed reimbursement of expenses of £Nil (2023 - £Nil> in respect of travel and subsistence costs for attendance at council meeb'ngs and seminars. In accordance with the Memorandum and Articles of Association, the Trustees may be paid all reasonable and proper expenses incurred by them in connection with their attendan at meetings and in discharge of their duties. 18
COMpiiirrEE ON PUBLICATION ETHICS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STAFF COSTS Staff costs were as follows: 31 December 2024 31 December 2023 Wages and salaries Social security costs Employers allowance Pension costs 179.939 19.811 (5.000) 3.754 198,504 159, 882 17,670 (5,000) 3.284 169.268 The average mnthly number of employees during the year was as follows: 31 December 2024 No. 31 December 2023 No. Operab'onal staff 1 etnployee (2023 - 1) received employee benefits (exduding employer pension costs) amounting to between £80,000 and £90.000 during the year. The total amount of remuneration, including Employers NIC arKI pension, paid to key management personnel in the year was £91,252 (2023 - £87,225). DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 65.093 764 4.804 764 65,857 5.568 CREDITORS: Amounts falling due within ono year 2024 2023 Accnjals and deferred irKome Trade creditors other creditors Taxation and social Su11ty 4.140 4, 140 36,353 1, 636 5, 042 1.691 5.170 47,171 19
COPAMITTEE ON PUBLICATION ETHICS (A company limited by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 qo. DEFERRED INCOME 2024 2023 At 1 January Additions in year Released in year 171 (171) At 31 December 11. PENSIONS The Gharitable company operates a defined contribution pension scheme for qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At 31 December 2024 £1.691 (2023 - £1,636) was induded in creditors. 12. STATEMENT OF FUNDS Brought Incoming Forward Resources Resources Expended Carried Forward Unrestrlcted funds General fvnds 387 276 638 162 682 134 343,304 Unrestricted funds for year ended 31 December 2023 Brought Forward Incoming Resources Resources Expended Carried Forward Unrestricted funds General funds 354, 127 566.307 533. 158 387,276 20
COMMrrrEE ON PUBLICATION EfHICS (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Current Assets Llabllltles Total Unrestricted funds General funds 291,503 Unrestricted funds for year ended 31 Decernber 2023 Current Assets Llabilities Total Unrestrlcted funds General funds 434.447 47,171 387,276 14. CONTROLLING PARTY There is no controlling party. 15. RELATED PARTY TRANSACTIONS During the year the company indemnified the trustees against any liability by taking out insurance costing £2,509 (2023 - £2,231) on their behalf. 21