The Association for Science and Discovery Centres Report and Unaudited Financial Statements Year Ended 31 March 2024 Association for Science and Discovery Centres
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Annual report and financial statements for the year ended 31 March 2024 Contents Pa Report of the Trustees Report of the independent examiner io Statement of financial activities li Balance sheet 12 Statement of cash flows 13 Notes forming part of the financial statements 14-20
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report ofthe Trustees forthe year ended 31 March 2024 The Trustees present their report and financial statements for the year ended 31 March 2024. These have been subjert to independent examination. Charity name: The Association for Science and Discovery Centres Charity registration number: 1129312 Company registration number: 6798106 (England and Wales) Registered Office and operational address: Suite 101 QC30 30 Queen Charlotte Street Bristol BSI 4HJ Bankers: Co-operative Bank PO Box 250, Skelmersdale Lancashire WN8 6Wt Barclays Bank Bristol Queens Square RMS 2 Leicester LE87 2BB Accountant: Evans Entwistle Elm House, 10 Fountain Court New Leaze, Bradley Stoke Bristol BS32 4LA ASDCWebsite-www.sciencecentres.or .uk Trustees and Directors Dr Stephen Breslin Ichairl Scot Owen (Treasurer) Charles Bishop John Bull Laurence Butler Glasgow Science Centre Xplorel Science Discovery Centre Iretired 28 Sep 20231 National Space Centre Cambridge Science Centre (appointed 28 Sep 20231 Thinktank, Birmingham Science Museum (appointed 28 Sep 20231 Dr Jennifer Chambers STFC, part of UKRI Dr Hermione Cockburn IHonorary Secretaryl Dynamic Earth Linda Conlon Centre For Life (retired 28 Sep 20231 Victoria Denoon W5 Tudor Gwynn ITreasurerl Eureka l The National Children's Museum Bridget Holligan Science Oxford Hassan loudi WSP Sheila Kanani Royal Astronomical Society Gareth McTiffin Techniquest (appointed 28 Sep 20231 Joanne Quinton-Tulloch National Science & Media Museum Bryan Snelling Aberdeen Science Centre Donna Speed-Grenfell IDeputy Chairl We The Curious Savita Willmott Natural History Consortium Secretary Dr Hermione Cockburn Executive Team Shaaron Leverment, Chief Executive
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontlnuedl Structure, Governance and Management Governing document The Association for Science and Discovery Centres IASDCI is a charitable company limited by guarantee, incorporated and registered as a charity on 21 January 2009. It is governed by its Memorandum and Articles of Association. Appointment of Trustees Under the requirements of ASDC'S Memorandum and Articles of Association there shall be no fewer than eight and not more than sixteen Trustees in office. One third of the Trustees retire from office each year, being those who have been longest in office since their appointment. A retiring Trustee is eligible for re-election for a three-year period, unless they have served as a Trustee for a nine-year period, in which case they must retire from the Board of Trustees. Induction of Trustees Trustees are invited to meet the executive team and familiarise themselves Wlth the aims of the organisation. They are given an indurtion pack which includes the Memorandum and Articles of Association (which includes the objects of the Charityl- Charities Commission guidelines on becoming a Trustee,. and forms for signature. Manugement The board of trustees delegate day to day decisions to the senior management team who report back to the board when the board meets on a quarterly basis. The board of trustees are responsible for setting the pay for the Chief Executive taking into account the responsibilities of the role. Objectives and Activities Objectives of the orgonisation The Association for Science and Discovery Centres IASDCI exists to serve and support the ASDC membership by fostering learning, innovation and shared practice within the field of science, technology, engineering and mathematics education and engagement for the public benefit. The trustees have had regard to Charity Commission guidance on public benefit and report on these activities below. ASDC Vision- A society where science is accessible, inclusive and valued by all as a fundamental part of everyday life. ASDC Mission - To champion our members, bringing them together to achieve collective impact and reach through connection, advocacy and insight. ASDC Values These provide a values screen that lens the work taking place and working practices.. Inclusion- Connection Collaboration- Innovation Sustainability Prlnclpal rlsks and uncertalntles Risks are addressed on a case-by-case basis and any relevant changes to systems or procedures are made to manage those risks. The Charity's risk register is reviewed at every meeting of the Board of Trustees Ithe"Board"l. The major risks to which the charity is exposed are.. The lack of sustainable core funding and reliance on project delivery.
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontlnuedl Small team and high workloads increase risk of long working hours, stress and high staff turnover. The impact of the current economic climate on membership and ASDC funding sources. Operational Report Overview The Association for Science and Discovery Centres IASDCI is the vibrant national charity that brings together the UK'S leading science engagement organisations to play a strategic role in the nation's engagement with science. The ASDC membership includes independent and non-independent UK science centres. science museums, research centres. environment centres le.E. eco-attractionsl, outreach organisations, aligned networks, learned societies and research councils. In recent years, the ASDC network has engaged over 25 million children and adults each year with science, technology, engineering and maths1STEMI through their science exhibitions and activities via school, public and community engagement programmes. From 2023-2024, ASOC has worked to the mission of bringing together the ASDC membership by creating and running regular knowledge exchange and professional development events, including leading national STEM projects and facilitating ongoing opportunities for collaboration, connection, advocacy and innovation via a number of digital platforms. Since Covid, the majority of events and programming take place online, alongside some specific targeted in-person events and the ASDC annual national conference, which took place on 28th and 29 September 2023 in Belfast. These events promote professional development and networking within the membership, alongside opportunities to work with funders, research councils, wider networks and government advocates to promote a culture of accessible science for all. ASDC has an office in central Bristol. The project director10.4 FTEI left ASDC on 28, July 2023. As of 31 March 2024, the roles within the ASDC team are as follows= Chief Executive10.6 FTEI Project Manager11.O E) Head of Communications10.8 E) Business Manager10.8 FTEI Membership 2023-2024 During the membership year 2023-2024, ASDC held membership fees at 2022-2023 rates to recognise the difficulties of increasing costs impacting the sector. ASDC continues to have three tiers of membership, with the number of core member and national partners growing from the previous year. l. Core Members= primarily science and discovery centre5 and museums. 2. National partners: national STEM partners who share ASDC values and vision. 3. Associate members.. commercial organisations that wish to support ASDC andlor who provide key services to organisations within the sector. Increasing from 44 core members and national partners 12022-20231 ASDC now represents 52 core members and national partners, and 9 associate members. Income from subscriptions was maintained at over £50,000 for a second consecutive year.
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontlnuedl Connection ond Colloborotion across the membership ASDC core values commit to promoting connection, collaboration, inclusion, sustainability and evidence-based practice across the sector. ASDC continues to grow opportunities for members to share inspiring practice, ideas and experiences across the national network and wider. Between April 2023 and March 2024, ASDC convened a variety of professional development and knowledge exchange events meetings and forums for science engagement practitioners across the UK. For example.. Monthly members-only meetings on a variety of topics for professionals working at different levels and within breadth of different departments within the membership. Sustaining Communities of Practice to share aims and priorities, areas of challenge and opportunities for collaborative practice towards common goals including.. o The Ambassadors Network o Volunteers Network o Diversity, Equity, Access and Inclusion advocates Education Network Marketing Network o ASDC Space Engagement Professionals Community Individual CPD and support events such as= Management Masterclass for emerging leaders Decarbonisation Group meetings supporting centres to set and reach net zero targets In-person 1-2 day conferences and events o ASDC Community Engagement skills Academy CEO awayday Evaluation 'Valuing inclusion, masterclass Supporting the recruitment and retention of diverse staff with specialist forums for HR and access to the Evenbreak Best Practice Portal of resources. ASDC continues with increasing commitment to provide mechanisms for regular communications with members across a number digital platforms such as the ASDC newsletter and social media channels X and Linkedln. Websites and shared resource spaces include= o The ASDC Website.. Our main broadcast platform for events, projects, news and shared resources. Accessibili Hub.. "Small changes, big impact" supporting science centres and museums on theirjourney to becoming fully accessible social spaces. The Inclusion Portal.. Shared learning on equitable and inclusive practice. o The Climate Hub.. carbon-cutting measures, engagement resources and external events on climate action for a collective approach. o The Diversci collective.. a pan-European collective, resource hub and associated bi- monthly informalldrop-in Communi of Practice of which ASDC is a founding contributor. The ASDC 2023 National Conference was hosted by W5 in Belfast on 28, and 29, September 2023, with the theme 'ExplorinE the who, what, where, why and why of science engagement,. The conference included in-depth workshops, activities, the AGM, a networking dinner and 2 full days of inspiring keynotes, discussion tables, lightning talks and workshops. In delegate numbers it was the largest conference ASDC has held to date. 4 Sponsors 0 5 keynote speakers 5 Exhibitors 6 liBhtning talks 19 workshops and panel sessions 0 18 discussion tables 167 delegates
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontinuedl The ASDC Board of Trustees FollowinE a review of the skills existing within the current Board of trustees, alonEside acknowledginE the experience being lost as individuals retired from the Board, ASDC held an internal recruitment for new trustees to enable a more representative reflection of the national spread and diversity of the membership. We welcomed three new trustees at the AGM held on 28, September 2023, following gaps identified in the Board's representation of Wales, of small science/discovery centre representation, and of museum members. Advocacyfor science ond discovery centre5 ASDC continues to explore opportunities that may lead to core funding or financial support for ASDC and our wider network. This include mini-campaigns across digital channels, and in-person advocacy from the ASDC Chief Executive and ASDC trustees that celebrate the work of ASDC and the network at high-profile events and with key politicians. Advocacy primarily focusses on the role of the sector to promote greater diversity and inclusiorb ifb the future science, innovation and technology sector and workforce. To support advocacy efforts and ASDC goal setting, ASDC launched a comprehensive sector survey to include benchmarking and audience insight data, reporting of areas of challenge and innovation and insight into the value held in the ASDC membership offer. Resource allowin& the aim is that this survey will become an annual event to build a robust picture of data trends from year to year. ASDC has also continued to foster a closer relationship with the Museums Association during 2023- 2024 with a view to increase opportunity for joint programmin& aligning work across similar streams of activity and to enhance the collective voice for the science centre and museums sector. National STEM Progrummes During 2023-2024, ASDC placed resource into application for core funding to support future sustainability of the charity but has as yet - been unsuccessful in this endeavour. ASDC continues to run National programmes and projects that align with organisational vision mission and values. Projects enable ASDC to deliver sector-wide support, share knowledge, bring together communities of practice, and contribute to the sustainability of the charity. A summary of projects delivered in 2023- 2024 follows.. Ex lore Your Universe Valuin Funded by: STFC Timeline: December 2023 - July 2024 Delivery partners: Aberdeen Science Centre. ArmaEh Observatory & Planetarium, Cambridge Science Centre, Catalyst Science Centre, Dundee Science Centre, Dynamic Earth, Jodrell Bank Discovery Centre, National Space Centre, Royal Astronomical Society, Science Oxford, Techniquest, W5. Xplorel Science Discovery Centre. We The Curious. Development partners: British Science Association, Professor Emily Dawson, Dr Jen Dewitt, and Dr Sophie Bartlett, alongside National partner and wider network consultancy. Summary: The project aim is to promote equity and inclusion as the key to unlocking more diverse participation in STEM research, development, industry and innovation forthe future. Key deliverable5: Recruitment of 12 projects devoting time, staff expertise and partnerships to provide evidence that supports lor challenges) the assumptions of the Logic Model. o Delivery of an 'evaluation IOI, training academy for science centres and their community partner5 to align measures of inclusive practice. Inclusion
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontlnuedl Delivery of a Logic model/framework that adheres to the aim of the programme (see above). This Logic model will have a strong, research-informed approach that engages with wider networks, funders and pulls evidence from practitioners. Supporting the UK cohortlcommunity of practice focussing on inclusive science engagement Final evaluation report and publication of the developed Logic Model. Mindsets + Missions Funded by: UKRI Partners: The Museums Association, The Liminal Space Timeline: September 2022- September 2024 Learning programme cohort and delivery partners: TBC Summary: A key part of UKRI's mission to break down the barriers between research, innovation and society. UKRI is providing grants of up to £75,(X)O per organisation to explore museums, science centres and galleries as the space for this work. Key Deliverables IASDC rolel: Ongoing evaluation consultation with Cornish & Grey Panel selection committee and ongoing participation on the steering group Programme dissemination Scoping of the potential future of Mindsets + Missions Our World From S Funded by: NERC and UK Space Agency Timeline: 01 December 2022- 31 March 2025 Delivery partners: Aberdeen Science Centre - Aero Space Kinross - Armagh Observatory & Planetarium Cambridge Science Centre- Dynamic Earth - Dundee Science Centre - Exeter Science Centre - Glasgow Science Centre - Life Science Centre- Living Rainforest- National Space Centre - Oxford University Museums of Natural History- Royal Museums Greenwich - Science Oxford - Science Skills Academy- STEM Discovery Centre - Techniquest - The Observatory Science Centre - Thinktank - Wonderseekers- W5- Xplorel Science Discovery Centre Summary: NERC funding allowed for the research and development phase of the programme and the UK Space Agency funding commenced April 2023. A theme of the value of space for the sustainability of planet earth, this project offers a modular approach for 22 participating science centres and museums across the UK, with £8000 delivery Erants, £1500 of equipment (bespoke as requested per centrel, in depth and bespoke evaluation support and a high-level evaluation and communication strategy across the wider'space to learn, projects supported by the UK Space Agency. Key Deliverables: o Two year project (delivery flexible, playing to strengths of individual partners) £80(M) delivery grants for up to 23 science and discovery centres and museums playing to individual strengths Content areas include Climate, Biodiversity, Clean Air and Oceans with a 'From global to Local, narrative o Content charrette during research and development A new suite of equipment and training resources with a budget of £1500 per centre o A 2-day national training academy13rd & 4 july 2023, National Space Centrel Delivery period Summer 2023- Winter 2024 Large scale evaluation programme working with OnData Ltd ace
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontlnuedl Financial Ovenfiew Overview The total income for the period was £663,08012023'. £543,3761- Total expenditure for the year was £645,54112023: £511,913) giving a surplus of £17,53912023: £31,463). Reserves and Investment Policies In order to provide on-going financial stability, the organisation aims to hold reserves at a level that will provide funds to cover a minimum of twelve months of costs in the event of a failure to secure funding. At year end we had £185,74312023'. £121,324) in unrestricted reserves which, along with expected income during the current year, we consider sufficient. The organisation does not currently have a formal investment policy. Future Plans ASDC will continue to seek opportunities to run national programmes of work that align with its vision, mission and values. These programmes deliver sector-wide inspiration, encourage shared practice, demonstrate collective impact and support professional development, while keeping ASDC sustainable. For example, 'Explore Your Universe.. Valuing Inclusion, will deliver an evidence-based Logic Model to support evaluation of impact for practitioners and present a compelling case to STEM funders that an equitable and inclusive approach to science engagements results in greater diversity of participation in STEM. ASDC aims to place equity and inclusion as a business essential for the future, alongside support on measurable indicators of impact. Alongside project funding, and due to the increased difficulty in attaining project funding, ASDC will continue to seek suitable core funding as a priority, with collaborations, new relationships and enhanced membership offers providing further opportunities for core funding. Current andlor future projects running with the MA also provide opportunities for partnership work and shared resources. ASDC will also deliver a National Conference for members and the wider sector. The 2024 ASDC conference will be held at the Royal Society in November, and plans are in place to host the 2025 conference with the National Science and Media Museum in Bradford UK City of Culture 2025. Membership growth is enabled through more formal understanding of the diversity of ASDC members, including 'outreach centres, Ilarger organisations that achieve their mission without a centralised publicly accessible venue). In addition, pre-approvals from trustees facilitate a more proactive model of membership growth for organisations such as botanical Eardens, universities departments and potential national partners. Two new core strands of work have emerged during 2023-2024 to be taken forward for future plans. The ASDC sector survey furthered insight and data for advocacy. The resource required to undertake this survey was extremely high but provided our members with a valuable tool. Members have opportunity to use data collected through an interactive dashboard, in order to benchmark, explore audience and workforce trends, and understand successful initiatives in areas of shared challenge. The survey has re-affirmed ASDC mission goals and the value held by members in the ASDC offer. The sector survey and 2023 & 2024 CEO discussions also highlight the need for ASDC to convene collective action to acquire a capital fund that supports science and discovery centres, aging building and estates, aligning with membership targets towards net zero. Advocacy for the sector prioritises raising the profile and evidence for the national impact of science and discovery centres and museums to reach diverse audiences and for wider participation with STEM, championing the cultural and social impact of the national ASDC membership.
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Report of the Trustees for the year ended 31 March 2024 Icontinuedl ststement of trustees, responsibilities The trustees Iwho are also the directors of the company for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and applicatiorb of resources, including the income arbd expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently,. obseNe the methods and principles in the Charities SORP FRS102 leffective l January 20191; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper 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. Small Company Exemptions This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Board of Trustees and signed on its behalf by.. Trustee- Dr Stephen Breslln Date: 08110124
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Independent Examinerfs Report forthe yearended 31 March 2024 Independent examinerfs report to the Trustee5 of The Association for Science and Discovery Centres I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 11 to 20. Responsibilities and bosis of report As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2(M)6 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions Eiven by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's stotement Since the company's gross income exceeded £250,OCKJ your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am member of the ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records 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 accounting requirements of section 396 of the 2Cx)6 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 accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Stuart Crisp Bsc FCA Corrigan Accountants Limited First Floor 25 King Street Bristol BS14PB Date.. 15 October 2025 io-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES ststement of Financial Artivities including Income and Expendlture Account for the year ended 31 March 2024 Unrestricted Restricted Total funds funds 2024 Totsl 2023 Note Income from Charitable activities Other tradin8 activities 7,250 119,664 535,871 295 543,121 119,959 437,962 105,414 Total income 126,914 536,166 663,080 543,376 Expenditure on Charitable activities 62,348 583,193 645,541 511,913 Total expenditure 62,348 583,193 645,541 511,913 Net income/{expenditurel 64.566 147.027) 17.539 31.463 Transfers between funds 11471 147 Net movement in funds 64,419 (46,880) 17,539 31,463 Total funds at l April 2023 121,324 50,775 172,099 140,636 Total funds at 31 March 2024 14 185,743 3,895 189,638 172,099 All income and expenditure is derived from the charitls continuing activities. All gains and losses recognised during the year are included above. The notes on pages 14 to 20 form part of these financial statements. li-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Company number 06798106 Balance Sheet as at 31 March 2024 2024 2023 Note Current assets Debtors Cash and bank balances 117,653 161,942 63,949 172,446 279,595 236,395 Creditors: amounts falling due within one year io 189,9571 164,2961 Net current assets 189,638 172,099 Net assets 189,638 172,099 Funds of the charlty Restrirted funds Unrestricted funds General funds 12 3,895 50,775 12 185,743 121,324 Total charity funds 12 189,638 172,099 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements ft)r the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for: lal Ensurin8 that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006,. and Ibl Preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial statements were approved by the Board of Trustees, and authorised for issue, on and were signed on its behalf by- 08110124 14110124 Trustee- Stephen Breslin Trustee-Tudor Gwynn The notes on pages 14 to 20 form part of these financial statements. 12-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES ststement of Cash Flows for the year ended 31 March 2024 2024 2023 Net movement in funds 17,539 31,463 Adjustments for= Decrease/lincreasel in debtors Increaselldecreasel in creditors 153,7041 25,661 49,507 121,5531 Net cash provided by operating activities 110,5041 59,417 Cash at the beginning of the year 172,446 113,029 Cash at the end of the year 161,942 172,446 13-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Accounting policies 8usis of accounting These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with Financial Reporting Standard applicable in UK and Ireland IFR51021 (Effective January 20191- Icharities SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Ireland IFR51021 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The Association for Science and Discovery Centres meets the definition of a public benefit entity under FR5102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policies. Income Income comprises lal Revenue grants in respect of the science and discovery centre projects- Ibl Membership and conference dele8ate fees. All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy when any performance criteria or conditions attached to the income have been met or are fully within the control of the charity, and when receipt of the income is considered to be probable. Income received in advance for contracts and where criteria or conditions are attached to the income is deferred until the conditions or criteria for recognition are met. Fund occounting Unrestricted General Funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. Restricted funds are funds which have been given for a specific purpose by the donoror statutory body. Expenditure which meets these criteria is charged to the fund, tOEether with fair allocation of management and support costs on an employee basis. Descriptions of the restricted funds are contained in the trustees, report. Resources expended External costs of projects are those costs directly incurred in connection with the various projects carried out by the Charity. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is charEed directly to the projects where possible. Irrecoverable VAT is treated as a cost to the charity and analysed between appropriate expenditure headings. Governance costs are those costs incurred in connection with compliance with constitutional and statutory requirements and have been allocated against Charitable Activities. 14-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Icontlnued) All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, together with a fair allocation of management and support Costs on an employee basis. Financial instruments The charity only has financial asset5 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. Debtors Grant and contract debtors are recognised at the settlement amounts due after any discounts. Prepayments are valued at the amount prepaid after taking account of any discounts due. Cash at bank and in hand Cash at bank and in hand includes cash or short term deposits with maturity date less than 3 months from the opening of the deposit. Creditors Creditors and provision are recognised when the charity has a present obligation resulting from a past event that will probably result in a transfer to a third part in settlement of the obligation and when it can be measured reliably. Creditors and provisions are normally recognised at their settlement amount after any discounts due. Pensiorj scheme The charity pays contributions into a group personal pension scheme on behalf of the employees. Contributions payable are charged to the Statement of Financial Activities in the period to which they relate. Operoting leuses Rentals payable under operating leases are charged to the SOFA over the period in which the cost is incurred. Legal status of the charity The charity is a private company limited by guarantee and has no share capital. Details of the charity's registered office and registered number are given in the Report of the Trustees. In the event of the charity being wound up, the liability on respect of the guarantee is limited to £1 per member. Charitable activities Unrestricted Funds Restricted Funds Total Funds 2024 rotal Funds 2023 Grants 7,250 535,871 543,121 437,962 7.250 535.871 543.121 437.962 During the year grant income was received towards running the charity and for certain activities the charity undertakes. Of the £543,121 receivable in 2024, £7,250 is included within unrestricted furbds 12023= £Nill and £535,871 has been received that is restricted to certain projects12023= £437,962). Funds are claimed and recognised as contractual obligations are met. 15-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Icontlnued) Other trading activities Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Membership income Annual conference Other income 54,545 45,718 19,401 54,545 45,718 19,696 52.705 38,422 14,287 295 119,664 295 119,959 105,414 Expenditure External cost Support of projects costs 2024 2023 Purchases Salaries lincl. employerfs Nll Pension contribution Recruitment and temporary staff Staff training and welfare Travel and subsistence Entertaining Premises costs Telephone and fax Postage and stationery Subscriptions Bank charges Irrecoverable VAT Insurance Computer costs Sundry expenses Accountancy fees Other marketing costs Governance costs Legal and professional fees 337,393 32,410 161,094 7,571 369,803 161,094 7,571 248,085 164,769 7,609 21 2,115 16,003 373 19,210 3,658 93 3,987 605 12,428 4,543 5,468 695 13,659 6,067 130 2,395 545 18,657 108 1,034 6,154 222 19,980 3,117 67 495 585 6,864 3,639 4,673 827 8,053 1,803 244 3,881 1,579 24,811 330 19,980 3,117 105 1,081 585 18,475 3,639 5,517 1,313 12,331 10,085 244 3,881 38 586 11,611 844 486 4,278 8,282 382,828 262,713 645,541 511,913 Expenditure Icontinuedl Of the £645,541 expenditure, £62,348 has been charged to unrestricted funds12023: 118,2031 charged to unrestricted funds) and £583,193 has been charged to restricted funds 12023.. £393,710 charged to restricted funds). Taxatlon The charity is exempt from tax on income falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 16-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Icontlnued) Net incoming resources Net incoming resources are stated after charging'.- 2024 2023 Cost of independent examination Directors, remuneration Operating leases 1,500 1,400 11,0 11.000 Salaries 2024 2023 Salaries Social security costs Pension contributions 151,418 9,676 7,571 154,758 io,oii 7,609 168,665 172,378 The staff costs of the charity are shown above. The average number of employees land full time equivalents) in the year was: 2024 number 2023 number Management Administration Full time equivalent Number of employees with emoluments (excluding Employers, pension) 2024 number 2023 number Between £30,000 and £40,000 Between £40,000 and £50,0(X) The key management personnel of the charity are the trustees and the Chief Executive Officer. The total employee benefits paid to the key management personnel were £46,419 12022.. £38,9061. Debtors: amounts falling due within one year 2024 2023 Trade debtors Other debtors and prepayments 110,217 7,436 56,638 7,311 117,653 63,949 17-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Icontlnued) 10 Creditors: amounts falling due within one year 2024 2023 Trade creditors Tax and social security Other creditors Accruals and deferred income 82,491 3,369 2,597 1,500 48,862 8,324 2,116 4,994 89,957 64,296 li Commitments under operating leases At 31 March 2024 the charity had total commitments under operating leases as set out below.. 2024 2023 Operating lease commitments 11,000 Ii,ocKJ 12 Statement of funds At IApr23 Incoming resources Outgoing At resources Transfers 31 Mar 24 Unrestrictedfunds General funds 121,324 126,914 162,3481 11471 185,743 Restrictedfunds Destination Earth Bold Futures EYU4 Legacv EYU Valuing Inclusion Mindsets and Missions Ourworld From Space Sector CPD Destination Space Phase 4 STFC Impact 15,026 9,170 2,110 115,0261 19,1701 112,2701 1234,6751 114,0991 1269,3441 13,4291 17,6961 117,4841 10,160 244,020 11,360 267,626 9,345 15,4501 12,7111 1,718 3,429 15,0001 9,696 17,484 3,000 50,775 536,166 1583,1931 147 3,895 Total funds 172,099 663,080 1645,541) 189,638 Tronsfers betweenfunds Expenditure in excess of restricted funding received has been transferred from unrestricted funds. Restrirtedfunds Details of the larger restricted funds are included in the Report of the Trustees on pages 6 and 18-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Icontlnued) Comparative statement of funds At IApr22 Incoming resources Outgoing At resources Transfers 31 Mar 23 Unrestrictedfund5 General funds 140,636 105,291 1118,2031 16,4001 121,324 Restrictedfunds Destination Earth EYU4 Legacy STFC Phase 4 EYU Bold Futures ISEN Project Lightyear Mindsets and Missions NERC 2.5 Destination Space Phase 3 Destination Space Phase 4 STFC Impact 51,040 59,020 136,0141 156,9101 12841 115,8301 15,026 2,110 284 25,000 2,000 42,273 6,752 9,170 12,0001 5,734 148,0071 19,4631 15721 11,8101 142,3041 1182,5161 12,7111 572 1,810 52,000 200,000 9,696 17,484 438,085 1393,7101 6,400 50,775 Totsl funds 140.636 543,376 1511,913) 172.099 13 Analysis of prior year statement of financial artivities Unrestricted Restricted Total funds funds 2023 Income from Charitable activities Other trading activities 437,962 123 437,962 105,414 105,291 Total income 105,291 438,085 543,376 Expenditure on Charitable activities 118,203 393,710 511,913 Total expenditure 118,203 393,710 511,913 Net expenditure (12.9121 44,375 31.463 Transfers between funds 16,4001 6,400 Net movement In funds (19.3121 50.775 31.463 Total funds at l April 2022 140,636 140,636 Total funds at 31 March 2023 121,324 50,775 172,099 19-
THE ASSOCIATION FOR SCIENCE AND DISCOVERY CENTRES Notes forming part of the financial statements for the year ended 31 March 2024 Icontlnued) 14 Funds Unrestricted Restricted funds funds Total Total 2023 Fund balances are represented by.. Current assets Current liabilities 275,700 189,9571 3,895 279,595 236,395 189,9571 164,2961 185,743 3,895 189,638 172,099 15 Pensions The pension charge amounted to £7,57112023: £7,609). At the year-end £1,11612023.' £1,371) was outstanding. 16 Trustees, Remuneration and Benefits There was no trustees, remuneration. benefits or expenses for the year ended 31 March 2024, nor for the year ended 31 March 2023. 17 Related party transactions There were no related party transactions during the year ended 31 March 2024, nor for the year ended 31 March 2023. 20-