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2022-12-31-accounts

BRITISH EDUCATIONAL RESEARCH ASSOCIATION

Registered Charity No. 1150237

Registered Company No. 08284220

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2022

BRITISH EDUCATIONAL RESEARCH ASSOCIATION

CONTENTS

Page
Trustees and Advisers 2 - 3
Report of the Trustees 4 - 13
Report of the Auditors 14 - 16
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cash Flows 19
Accounting Policies 20 - 21
Notes to the Financial Statements 22 - 26

BRITISH EDUCATIONAL RESEARCH ASSOCIATION

TRUSTEES AND ADVISERS

Registered charity name British Educational Research Association (BERA) Charity number 1150237 Company Registration 08284220 Trustees Dominic Wyse Vivienne Baumfield (President) Gerry Czerniawski Sean Hayes Richard Race Mhairi Beaton Ros McLellan Marlon Moncrieffe Morag Redford Alison Fox Tanya Ovenden-Hope Sarah Seleznyov Barbara Skinner Paul Miller Yuwei Xu Sally Power Sin Wang Chong (appointed 1[st] September 2022) Mabel Encinas (appointed 1[st] September 2022) Diana Burton (appointed 1[st] November 2022) Oliver Hooper (until 1[st] September 2022) Staff Executive Director and Company Secretary Nick Johnson Marie Moore Sarah Fleming David Chatterjee Hannah Marston Principal Address 9-11 Endsleigh Gardens London WC1H 0EH Auditor PKF Littlejohn LLP Chartered Accountants and Statutory Auditor 15 Westferry Circus Canary Wharf London E14 4HD

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

TRUSTEES AND ADVISERS

Bankers

Solicitors

Metro Bank One Southampton Row London WC1B 5HA

Mills & Reeve Botanic House 100 Hills Road Cambridge CB2 1PH

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

Introduction

The Trustees, who are also the Directors of the Charitable Company, present their report and audited financial statements for the year ended 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities” (“FRS 102 SORP”) in preparing the annual report and financial statements of the charity.

Structure, Governance and Management

The British Educational Research Association (BERA) is an autonomous learned society distinct from other national institutions and is a company limited by guarantee (08284220) and registered charity (Number 1150237). The charitable objective, as defined in BERA’s constitution is “to encourage the pursuit of educational research and its application for both the improvement of educational practice and for the public benefit.”

BERA is subject to Articles of Association that can be amended at the Annual General Meeting subject to approval of 75% of those present and voting.

A copy of the current Articles of Association is available on the BERA website.

The Trustees confirm that they have had regard to the guidance on public benefit issued by the Charity Commission when considering the objectives and activities of the Association.

Membership of Council (and Trustees) 2022

The following people served as members of Council in 2022:

Nick Johnson (appointed April 2012) continued to serve as BERA’s Chief Executive and Company Secretary.

Governance Document

The Association was originally formed by a constitution, which was adopted in April 1974.

The Constitution was amended on several occasions and was then absorbed into the Articles of Association from January 2013. The last update was at the 2022 AGM.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

BERA Council

The Council is the governing body of the Association and the members of the Council are, de facto, the Trustees of the Association as a registered Charity. They are also the Company Directors. The Council has ultimate authority and decision-making over all business including policy, planning and resources.

The Council comprises:

Apart from the office holders mentioned above, the term of office for a Council member is four years with the possibility of re-election. Co-opted members may be co-opted for 1-4 years depending on the focus of the co-option.

Council needs to have due regard to representing the four nations and, as such should ensure that it has representation from all four countries amongst its membership.

The Council has the power to set up committees or working groups to undertake the work of the Association and may delegate any of its powers or decision-making authority to such committees, working groups and/or members of staff as it sees fit. All committees and working groups therefore ultimately report to Council through, its committees as appropriate. The Council meets at least three times a year.

The Council is responsible for setting strategies and policies for BERA and for ensuring that these are implemented. The day-to-day running of the Charity is delegated to the Chief Executive and the staff.

BERA Council, acting as the Board of Trustees for BERA, are jointly and severally responsible for the overall governance and strategic direction of BERA, its financial health, the probity of its activities and developing the organisation’s aims, objectives and goals in accordance with the governing document, legal and regulatory guidelines.

All trustees are made aware of, and understand, their individual and collective responsibilities; and should not be overly reliant on one or more individual trustees in any particular aspect of the governance of the charity.

BERA Trustees and office holders are expected to adhere to the Nolan principles of public life.

Appointment of Trustees

BERA’s Governance year runs from 1st September. Elections for Council and individual posts take place in spring before the Annual General Meeting with the results taking effect from the 1st September. The Annual General Meeting (AGM) normally takes place during the autumn.

Directors begin their term from 1[st] September after the election or appointment is confirmed. The exception is the Presidential role, the President elect assumes the role following their Presidential address presentation, ordinarily held at BERA Conference.

Elections are conducted by ballot among individual members of the Association with the nomination process and election being run by the BERA office during the spring with the results reported to the Annual General Meeting and terms of office beginning on 1[st] September.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

Trustees’ Induction and Training

Trustees undergo appropriate training, which covers their obligations under the constitution, under relevant charity law and with reference to guidance and advice provided by the Charity Commission in England and Wales.

Council members are provided with a copy of the BERA Strategic Plan and guidance material on the structure, history and operation of BERA, including the BERA Handbook, and undertake an induction.

The following documents from the Charity Commission in England and Wales are provided for reference and Trustees are encouraged to familiarise themselves with relevant online information provided by the Charity Commission.

Trustees’ responsibilities

The Trustees are also directors of British Educational Research Association under company law.

The Trustees are responsible for preparing financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including the net income or expenditure for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

Committees and Remits

Leadership Committee (LC)

LC work in close cooperation with the Council as the de facto executive committee of BERA. In addition, Council delegates authority to LC to act on behalf of the Association as required, particularly when decisions are needed urgently. Each of the standing committees is represented on the LC alongside BERA Officers.

Their principal responsibilities are to ensure that in all of its activities BERA works towards its strategic objectives. Their remit is monitoring and reviewing of all BERA activities in line with Council’s strategic direction which includes the strategic co-ordination and planning of BERA’s activities ensuring that organisational priorities are shared and appropriate resources allocated against strategic objectives. This involves reviewing all committee, working-group and project business, ensuring that academic input is given where appropriate and progress towards strategic objectives is monitored. This committee also acts as BERA’s remuneration committee.

Finance and Operations Committee

This committee has responsibility for overseeing HR policies, including staff development and review, and other broad arrangements that affect terms and conditions of our employees, contracts, regular financial oversight and operational relationships. It works closely alongside LC in ensuring that BERA’s finances and operations can support the organisation’s strategic objectives and planned activities.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES

Publications Committee

The committee’s principal responsibilities are to ensure that BERA’s publications portfolio is well managed and upholds the highest academic standards.

Conference & Events Committee

The committee’s principal responsibilities are to ensure that the Annual Conference and programme of inyear events operate to the highest academic standards and are developed in line with BERA’s strategic objectives.

Engagement Committee

The committee’s principal responsibilities are to ensure that BERA supports its members appropriately in the light of our strategic plan including oversight of our special interest groups and awards.

Risk Assessment and Audit Committee

RAAC is a committee of the Council. It reports to the Council, but its members are not normally members of Council. This is intended to enable it to take an objective and independent approach to its business. Its role is to provide oversight and advice to the Council on the effective functioning of the Association in relation to:

The committee has the authority to request information from any of the Association committees or working groups to enable it to undertake its responsibilities. This committee manages the BERA Risk Register.

Authority

Ultimate authority for all Association business remains with the Council.

The Council delegates authority to LC to act on behalf of the Association as required. Only the Officers and the Chief Executive have the authority to sign contracts upon BERA’s behalf.

BERA Council has a statutory duty to prepare financial statements for each financial period, as set out in the Statement of Trustees’ Responsibilities.

The management of this is delegated to the Treasurer who oversees BERA’s finances in association with the Chief Executive. The Treasurer has formal responsibility for BERA finances and the BERA Office conducts oversight of the financial arrangements of the Association and the day-to-day administration of finance.

BERA’s financial year runs from 1[st] January to 31[st] December. A budget is approved by Council prior to the start of the financial year or as soon as practicable afterwards. End of year accounts will be reported to Council following the end of the financial audit as well as to each year’s AGM.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

Staffing and Contracts

The BERA Office comprises the staff employed to carry out the charity’s functions. Some of these staff are employed through the UCL Institute of Education (IoE), which provides all personnel and employment facilities for them. UCL IoE is also contracted to provide office space and services. BERA began to employ staff directly during the course of 2021.

For the 2022 year, the office core team comprised:

Accountancy Services were provided by Kaya Taylor on a freelance basis (KLT Business Management)

In the 2022, the Association has obtained significant contracted services from:

Membership

The membership at the end of December 2022 totalled 2,900 (2021 – 2,709).

Risk Assessment

The Trustees have examined the Association's principal areas of operation and considered the major risks faced in each of these areas. In the opinion of the Trustees, the Association has established resources and review systems which, under normal conditions, should allow these risks to be mitigated to an acceptable level in its day-to-day operations.

The Association has a Risk Assessment and Audit Committee to monitor the work of the Association. This Committee reports to the Council and carries out a detailed assessment of the Risk register each autumn. Following that, the register is shared with individual committees to assess the risk and responses in their respective areas and they report back to the Risk Assessment and Audit Committee.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

Objectives and Activities

In autumn 2021 we launched our new strategic plan which has four main objectives:

This review summarises progress against these objectives and our achievements in 2022.

Enhancing the health of education as a discipline by nurturing a strong and confident research environment.

We continued our significant initiative to produce a thorough and rigorous analysis of the state of the discipline, using its findings to inform our work. During the year we:

We invested in and supported the development of the next generation of researchers. During the year we:

We championed a more diverse research community and in 2022 we:

We continued to offer seed-corn and small-scale funding for research projects across the discipline. In 2022 we:

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

Championing education research, enhancing its use in policymaking and educational practice.

We offered a broad programme of events, including high-profile public events throughout the year including:

We continued to increase the opportunities for education practitioners to take part in our events and activities. We:

We continued to grow the successful BERA Blog. In 2022 we:

Celebrating and recognising excellence in the education research community.

We continued to offer a wide range of awards that celebrate the very best educational research and are judged rigorously. In 2022 we:

We developed our journals, increasing their quality, standing, reach and impact. During the year we:

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

We broadened our publishing portfolio, promoting excellence in research outputs. In 2022 we:

We played an active role internationally, and we:

Ensuring a strong and sustainable future for BERA.

We enhanced our digital offering and increased our digital outputs. In 2022 we:

Continued to invest in our staff, professional services and structures. In 2022 we:

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE TRUSTEES

Management and Finances

BERA remains in a strong financial situation and we were not adversely affected by the global Covid-19 pandemic. We continue to maintain healthy reserves, which are now above £2.4m and split between a substantial sum invested within a managed investment fund and cash that is held in relatively quick access accounts.

For many years we have operated with a policy of being able to ensure that a year’s operating costs are covered by our reserves and a ratio of 1:1.4 between turnover and reserves has been an important benchmark for the association. The direction of travel means that we are currently well in excess of this ratio, and for several years we have had considerably more reserves than one year’s annual turnover. This situation was compounded by the pandemic whereby in many cases our expenditure was much lower than it was in the years immediately preceding. BERA Council have continued to set deficit budgets to help lower the ratio between turnover and reserves.

Our level of reserves means that the association is operating on a very secure financial footing although we continued to be in a volatile situation with the ongoing impact of the pandemic, pressures on UK higher education and the threats to our publishing income from open access mandates. BERA is not minded to generate excessive funds in reserve if we have no immediate or mid-term need for them. What is important is that we have sufficient reserves for short-term crisis management. BERA remains in a secure financial position where it can continue to plan for new ventures enabling us to provide a broad offer to our members, but we remain in an uncertain period in our history, and we will continue to monitor the impact that the external environment might have on our organisation and its finances.

BERA is committed to act as a responsible employer of the staff in its professional office, with appropriate concern for the health and well-being of our employees. The current project for BERA to become its own employer is built on the principle, agreed by Council, that any new terms and conditions should not lead to a diminution in what BERA staff are offered. Where direct replication of UCL terms is not possible, alternatives have been sought. This framework is governing all our work on the own employer project. Over the last year, BERA has operated as its own employer successfully with staff and we look forward to conducing the transfer of all staff during the course of 2023.

Our accounts show that BERA’s medium-term financial position remains healthy and is still secured by positive publishing agreements (open access notwithstanding) and a high level of reserves. In most years this would mean that BERA can plan for the future with a high degree of confidence and were able to freeze both membership and conference fees going into 2023. We continue to be financially prudent and to that effect we took a very sensible and pragmatic approach to budget setting for 2023 and beyond.

Audit Information

The Trustees who held office at the date of approval of this Trustees’ Report confirm that, so far as they are individually aware, there is no relevant audit information of which the Charity’s auditors are unaware; and each Trustee has taken all reasonable steps that he/she ought to have taken as a Trustee to make himself/herself aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.

Auditors

PKF Littlejohn LLP has signified its willingness to continue in office. By Order of the Trustees

Professor Vivienne Baumfield

Trustee

Date: 14.08.2023

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE AUDITORS

Auditors' Report to the Members of the British Educational Research Association

Opinion

We have audited the financial statements of British Educational Research Association (the ‘charitable company’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the trustees’ annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

REPORT OF THE AUDITORS

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ statement of responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the charitable company financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the charitable company financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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REPORT OF THE AUDITORS

BRITISH EDUCATIONAL RESEARCH ASSOCIATION

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities http://www.frc.org.uk/auditors/audit-assurance/auditor-sresponsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilitiesforhttps://www.frc.org.uk/auditors/audit-assurance/standards-and-guidance/2010-ethicalstandards-for-auditors-(1) . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone, other than the charitable company and the charitable company's as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Alastair Duke (Senior Statutory Auditor)

For and on behalf of PKF Littlejohn LLP Statutory Auditor

15 Westferry Circus Canary Wharf London E14 4HD

5 September 2023

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2022

Unrestricted Restricted Total
Total
Notes Funds Funds Funds
Funds
2022
2021
Income from:
Membership subscriptions 197,686 - 197,686
194,870
Investments 1 45,712 - 45,712
28,704
Charitable Activities 2 915,585 - 915,585
779,070
_ __ _
__
Total Income 1,158,983 - 1,158,983
1,002,644
_ __ _
__
Expenditure on: 3&4
Raising funds 165,270 - 165,270
155,854
Charitable activities 923,927 - 923,927
652,615
_ __ _
__
Total Expenditure 1,089,197 - 1,089,197
808,469
_ __ _
__
Net (loss)/gain on investments (202,693) - (202,693) 140,127
_ __ _
__
Net Movement in Funds 5
(132,907)		 - (132,907)
334,302
Reconciliation of Funds:
Fund balances brought forward 2,514,153 22,031 2,536,184
2,201,882
_ _ __
__
Balance at End of Year £2,381,246
_		 £22,031
_		 £2,403,277
__		 £2,536,184
__

The Charity has no recognised gains or losses other than as stated above. All of the activities represent continuing activities of the Charitable Company.

The Accounting Policies and Notes on pages 20 to 26 form part of these Financial Statements.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION Registered Company No. 08284220

BALANCE SHEET At 31 December 2022

Note 2022 2021
Fixed Assets
Tangible fixed assets 7 9,302 18,929
Investments 8 1,323,659 1,526,352
Current Assets
Debtors 9 285,991 199,653
Cash at bank and in hand 914,697 923,740
_ _
1,200,688 1,123,393
Creditors:amounts falling due
within one year 10 (130,372) (132,490)
_ _
Net Current Assets 1,070,316 990,903
_ __
Net Assets £2,403,277 £2,536,184
_ __
Funds 11
Restricted funds 22,031 22,031
Unrestricted funds
General 2,016,575 2,019,482
Designated 364,671 494,671
_ __
£2,403,277
_		 £2,536,184
__

Approved by the Board of Trustees on the 14[th] August 2023 and signed on its behalf by

Professor Vivienne Baumfield Trustee

The Accounting Policies and Notes on pages 20 to 26 form part of these Financial Statements.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

STATEMENT OF CASH FLOWS Year ended 31 December 2022

2022 2021
Cash flow from operating activities (see below) (56,611) 152,207
Cash flow from investing activities
Payments to acquire tangible fixed assets (8,475) (3,424)
Payments to acquire investments (28,816) (1,688,638)
Proceeds from sale of investments 28,816 1,457,846
Dividends and interest from investments 56,043 28,704
_ _
Net cash flow used in investing activities 47,568 (205,512)
_ _
Change in cash and cash equivalents in the year (9,043) (53,305)
Cash and cash equivalents at start of year 923,740 977,045
_ _
Cash and cash equivalents at end of year £914,697 £923,740
_ _
Cash and cash equivalents consists of:
Cash at bank and in hand 914,697 923,740
Short term deposits - -
_ _
Cash and cash equivalents at end of year £914,697 £923,740
_ _
Net (expenditure)/income for the year (132,907) 334,302
Dividends and interest from investments (56,043) (28,704)
Depreciation of tangible fixed assets 18,102 16,953
Losses/(Gains) on investments 202,693 (140,127)
(Increase)/decrease in debtors (86,338) (19,852)
Increase/(decrease) in creditors (2,118) (10,365)
_ _
Net cash flow from operating activities £(56,611)
_		 £152,207
_

The Accounting Policies and Notes on pages 20 to 26 form part of these Financial Statements.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

ACCOUNTING POLICIES

General information and basis of preparation

British Educational Research Association is a company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are to encourage the pursuit of educational research and its application for both the improvement of educational practice and for the public benefit.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Fund Accounting

Restricted funds comprise donations and grants which have been received for specific purposes, or which are subject to specific conditions imposed by the donor.

Unrestricted funds may be used for the purposes of the Charitable Company at the Trustees’ discretion. Unrestricted funds may be designated by the Trustees for specific purposes. Designated funds represent those funds designated at the discretion of the Trustees.

Incoming Resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income, after any performance conditions have been met, when the amount can be measured reliably and when it is probable that the income will be received.

Income derived from membership subscriptions and sales is credited to the Statement of Financial Activities (SOFA) in the period to which it relates. Fees represent amounts invoiced to third parties for the provision of services and are recognised on the basis of entitlement. Grants and donations represent amounts from individuals, corporations, trusts and funding bodies and are credited to the SOFA in the year in which they are receivable.

Investment income is recognised as the charity’s right to receive payment is established.

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BRITISH EDUCATIONAL RESEARCH ASSOCIATION

ACCOUNTING POLICIES

Resources Expended and Basis of Allocation of Costs

Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and is reported gross of related income on the following bases:

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and other administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Tangible Fixed Assets, Depreciation and Impairment

Tangible fixed assets are stated at cost less accumulated depreciation. The costs of minor assets are expensed in the year in which the cost is incurred. Donated assets are included in income and fixed assets, where a value can be reasonably obtained, and are depreciated.

Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost of each asset, less any estimated residual value, over its expected useful life. The annual depreciation rates and methods are as follows:

Furniture, office and technical equipment - 25% straight line.

Assets in the course of construction, website and database costs, have been shown separately. No depreciation is provided until an asset is brought into use.

Where the recoverable amount of a tangible fixed asset is found to be below its net book value, the asset is written down to its recoverable amount and the loss on impairment recognised in the SOFA.

Investments

Publicly traded investments, or those where fair value can otherwise be measured reliably, are measured at fair value at each balance sheet date, with changes in fair value recognised in ‘net gains / (losses) on investments’ in the SoFA.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Taxation

The Charitable Company is generally exempt from taxation with the exception of Value Added Tax. Where appropriate all expenditure is stated inclusive of the related Value Added Tax.

Leases

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

20

BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2022

1. Investment Income 2022 2021
Bank interest and investment income £45,712 £28,704
______ _____
Investment income in both years relates to unrestricted funds.
2. Income from Charitable Activities 2022 2021
Publications and Royalties 655,326 621,540
Annual conference 232,234 122,710
Other income 4,025 2,420
Gifts in kind 24,000 32,400
_ _
£915,585
_		 £779,070
_

2. Income from Charitable Activities

Income from charitable activities consists of £915,585 (2021 - £779, 070) relating to unrestricted funds and £nil (2021 - £nil) to restricted funds.

3. Expenditure

Expenditure
Support
Depreciation Direct costs Total Total
costs (see note 4) 2022 2021
Raising funds - 20,178 145,092 165,270 155,854
Charitable activities 18,102 470,543 435,282 923,927 652,615
_ _ _ _ _
£18,102
_		 £490,721
_		 £580,374
_		 £1,089,197
_		 £808,469
_

Expenditure relates to £ (2021 - £808,469) from unrestricted funds and £nil (2021 - £nil) from restricted funds.

21

BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2022

4. Support Costs

Staff and associated
Premises Governance
Total
costs
costs
costs
2022
Raising funds
106,193
28,314
10,585
145,092
Charitable activities
318,581
84,944
31,757
435,282
_
__
_
_
£424,774
£113,258
£42,342
£580,374

_


_
Governance costs:
Audit fees
5,820
Accountancy
10,213
Other
26,309
_
£42,342
_
5.Net Incoming Resources
This is stated after charging:
Depreciation
£18,102
Auditors’ remuneration - audit
£5,820
___		 Total
2021
136,232
408,700
_
£544,932
_
5,700
9,514
22,648
_
£37,862
_
£10,239
£5,700
_

6. Trustees and Contracted Personnel

Staff costs for 6 employees (2021 - 6) of £307,494.68 (2021 - £343,964) were recharged from the UCL Institute of Education. By the end of the year there were 4 employees being recharged by the UCL Institute of Education. There was one employee earning a salary between £70,000 and £80,000 (2021 - one). At the year-end there was one directly employed member of staff using the Association’s own payroll.

The total amount of employee benefits received by key management personnel during the year was £164,452 (2021 - £143,711). The Association considers its key management personnel to compromise the Chief Executive and Events Manager.

Fifteen trustees (2021 - five) received a total of £23,560.92 (2021 - £972) reimbursed travel and subsistence expenses in the year. No Trustees received any remuneration in the year.

Staff costs
2022
2021
Recharges from UCL Institute of Education
307,495
343,964
Wages and salaries
40,344
29,113
Social security costs
14,523
2,538
Pension contributions
10,344
2,718
_
__
Total staff costs
£372,706
£378,333
_
_
The average number of persons employed by the Company during the year was:
Recharged employees
6
Directly employed staff
1
__
____
Total
7

 Staff costs
2022
2021
Recharges from UCL Institute of Education
307,495
343,964
Wages and salaries
40,344
29,113
Social security costs
14,523
2,538
Pension contributions
10,344
2,718
_
__
Total staff costs
£372,706
£378,333
_
_
The average number of persons employed by the Company during the year was:
Recharged employees
6
Directly employed staff
1
__
____
Total
7

 Staff costs
2022
2021
Recharges from UCL Institute of Education
307,495
343,964
Wages and salaries
40,344
29,113
Social security costs
14,523
2,538
Pension contributions
10,344
2,718
_
__
Total staff costs
£372,706
£378,333
_
_
The average number of persons employed by the Company during the year was:
Recharged employees
6
Directly employed staff
1
__
____
Total
7
__ _
6
1
_
7

22

BRITISH EDUCATIONAL RESEARCH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2022

7.Tangible Fixed Assets
Furniture, office
and technical
equipment
Cost
At 1 January 2022
201,479
Additions
8,475
_

At 31 December 2022
209,954
_______

Accumulated Depreciation
At 1 January 2022
182,550
Charge for year
18,102
_

At 31 December 2022
200,652
_______

Net Book Value
At 31 December 2022
£9,302
______
At 31 December 2021
£18,929
 Total
201,479
8,475
_
209,954
_
182,550
18,102
_
200,652
_
£9,302
_
£18,929

The Charitable Company had no capital commitments at 31 December 2022 (2021 - none).

8. Investments 2022 2021
Balance brought forward 1,526,352 1,155,433
Additions 29,029 1,688,638
Sale proceeds (28,816) (1,437,947)
Net gains/(losses) (202,693)
140,127
Movement in cash at stockbrokers (213)
(19,899)
_ _
£1,323,659 £1,526,352
_ _
Investments at fair value include
Global funds 1,323,659 1,464,428
Multi asset funds - 61,711
Cash within investment portfolio - 213
_ __
£1,323,659
_		 £1,526,352
__

£1,323,659 is held in the Quilter Investors Ltd QC Global Income and Growth Fund. No other individual investment is considered to be material. The cost of investments was £1,508,423 (2021 - £1,506,246).

23

BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2022

9. Debtors

Debtors 2022 2021
Prepayments and accrued income 231,361 174,314
Taxation 54,630 25,339
_ ______
£285,991 £199,653
_ ______
Creditors:amounts falling due within one year
Trade creditors 38,731 15,550
Accruals and deferred income 91,641 116,940
_ _
£130,372
_		 £132,490
_

10. Creditors: amounts falling due within one year

Included within creditors is £17,320 (2021 - £17,810) of deferred income relating to membership subscriptions received in advance.

11. Analysis of Total Funds

Analysis of Total Funds
Tangible Net
fixed current
As at 31 December 2022 assets Investments assets Total
Restricted Funds - - 22,031 22,031
Unrestricted Funds 9,302 1,323,659 1,048,285 2,381,246
______ ______ _ _
£9,302
______		 £1,323,659
______		 £1,070,316
_		 £2,403,277
_
Tangible Net
fixed current
As at 31 December 2021 assets Investments assets Total
Restricted Funds - - 22,031 22,031
Unrestricted Funds 18,929 1,526,352 968,872 2,514,153
______ ______ _ _
£18,929
______		 £1,526,352
______		 £990,903
_		 £2,536,184
_

12. Related Party Transactions with Trustees and Connected Persons

There were no transactions with related parties or connected persons in the year.

13. Contingent Liabilities

There were no contingent liabilities to disclose at 31 December 2022 (2021 - none).

14. Post Balance Sheet Event

There were no events to disclose subsequent to the year-end.

24

BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2022

15. Financial commitments

At 31 December 2022 the Charitable Company had future minimum lease payments under noncancellable operating leases as follows:

Not later than one year 2022
£-
 2021
£-

16. Restricted and Unrestricted Funds

As at 1 Transfers and Transfers and As at 31
January Incoming Resources Investment December
Restricted 2022 resources expended movements 2022
Desmond Nuttall Fund 2,574 - - - 2,574
Brian Simon 19,457 - - - 19,457
______ _ _ _ _
Total 22,031 - - - 22,031
Unrestricted
General Fund 2,019,482 1,158,983 1,089,197 (72,693) 2,016,575
Designated Funds
- Open access 380,000 - - (130,000) 250,000
- UCL-IOE 114,671 - - - 114,671
__ _ _ _ _
Total Funds £2,536,184 £1,158,983 £1,089,197 £(202,693) £2,403,277
__ _ _ _ _
As at 1 Transfers and As at 31
January Incoming Resources Investment December
Restricted 2021 resources expended movements 2021
Desmond Nuttall Fund 2,574 - - - 2,574
Brian Simon 19,457 - - - 19,457
______ _ _ _ _
Total 22,031 - - - 22,031
Unrestricted
General Fund 1,674,851 1,002,644 798,140 140,127 2,019,482
Designated Funds
- Open access 380,000 - - - 380,000
- UCL-IOE 125,000 - 10,329 - 114,671
__ _ _ _ _
Total Funds £2,201,882
__		 £1,002,644
_		 £808,469
_		 £140,127
_		 £2,536,184
_

25