BRITISH EDUCATIONAL RESEARCH ASSOCIATION Registered Charity No. 1150237 Registered Company No. 08284220 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BRITISH EDUCATIONAL RESEARCH ASSOCIATION CONTENTS Page Trustees and Advlsers Report of the Trustees 4-13 Report of the Audltors 14-16 statement of Financial Activitles 17 Balance Sheet 18 Statement of Cash Flows 19 Accounting Pollcles 20-21 Notes to the Financial Statements 22-26
BR[SH EDUCATIONAL RESEARCH ASSOCIATION TRUSTEES AND ADVISERS Registered charity name British Educational Research Association IBERAI Charlty number 1150237 Company Registration 08284220 Trusteos Vivienne Baumfield (President) Dominic Wyse Gerry Czerniawskl Sean Hayes Iresigned 31 August 2023} Richard Ra {resigned 31 August 20231 Mhairi Beaton Ros M¢Lellan Marlon Moncrieffe Morag Redford Alison Fox Tanya Ovenden-Hope Sarah Seleznyov Barbara Skinner Paul Miller Yuwei Xu Sally Power Sin Wang Chong Mabel Encinas Diana Burton Gurpinder Lalli (appointed 1 September 2023) Staff Chief Executive and Company selary Nick Johnson Marie Moore Sarah Fleming David Challéryee Hannah Marslon Daniel Taylor Paru Rai Heidi Hollowbread Principal Address BERA. Elizabeth Meehan Suite, Rent House, 1-6 Pratt Mews, London. United Kingdom, NW1 OAD Audltor PKF Littlejohn LLP Chartered Accountants and Ststutory Auditor 15 Westterry Circus Canary Wharf London E14 4HD
BRITISH EDUCATIONAL RESEARCH ASSOCIATION TRUSTEES AND ADVISERS Bankers Metro Bank One Southampton Row London WC1B SHA Solicitors Mills & Reeve Botanic House 100 Hills Road Cambridge CB2 1PH
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES Introducon The Trustees, who are also the Directors of the Charflable Company, present their report and audited finanaal statements for the year ended 31 Dember 2023. The Tmstees have adopted the provisions of tha Statement of Recommendad Practice "Ac¢ounling and Reporting by Charities. l°FRS 102 SORP") in preparing the annual report and finanaal statements of the ¢harily. Structure. Gov8mancè and Managèment The British Educational Research Association IBERAI is an autonomous leamed so¢iety distinct from other national institutions and is a company limited by gLJarantee 1082842201 and registered charity (Number 11502371. The Charitable obje¢liva, as defined in BERA'S constitution is 'to encourage the pursuit of educational research and ils application for both the improvement of educational Practi and for the publiG benefit.. BERA is subject lo Atticles of Association that can be amended at the Annual General Meeting subject to approval of 75Yo of those present and voting. A copy of the current Arbcles of Association is available on the BERA website. The TrLJslees confirm that they have had regard to the guidance on publi¢ benefit Issu8d by the Charity Commission when considering the objoctives and activit'es of the Association. Membership of Council land Trustees) 2023 The following people seNed as members of Council in 2023.. Vivienne Baumfield IPresidenll Dominic Wyse Gerry Czerniawski Diana Burton Mhairi Beaton Ros McLellan Marlon Moncrieffe Morag Redford Alison Fox Tanya Ovenden-Ho Sarah Seleznyov Barbara Skinner Paul Miller Yuwei Xu Sally Power Sin Wang Chong Gurpinder Lalli (from 1st September 2023) Sean Hayes (until 18t September 20231 Richard Race {unlil 1st September 20231 Nick Johnson (appointed April 2012} continued to serve as BERA'S Chief Executive and Company Secretsry. Govemance Document The Association was originally fomied by a conslilulion, which was adopted in April 1974. The Constitution was amended on several occasions and was then absortjed into the Articles ofAssocialion from January 2013. The last update was at Ihe 2022 AGM.
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES BERA Council The Council is the goveming 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 dec4sion-making over all business including policy, planning and resour$. The Council comprises.. President., Vice PSident., Treasurer., Up to twelve Elected Members Up to Six Co-opted members of the Association Apart from the office holders mentioned above, the lomi of office for a Council member is four years with the possibility of reolection. Co-opted members may be co-opted for 14 years depending on the focus of the co-oplion. Council needs to have due regard lo representing the four natlons and, as such should ensure that it has representation from 811 four countries amongst its membership. The Council has the power to set up committees or working groups lo undertake the work ofthe Association and may delegate any of its powers or decision-making authority to such committees, working groups andlor members of staff as it sees fil. All committees and working groups therefore ultimately report to Council through, ils commSttees as appropriate. The Council rneels al least three times a year. The Council is responsible for setting strategi&s and policies for BERA and for ensuring that these are implemented. The day-lo-day running of the Charity is delegated to the Chief Executive and the staff. BERA Council, acting as the Board ofTruslees for BERA, arejolndy and severally responsible for the overall governan and strategic dire¢tion of BERA, ils financial health. the probity of its activities and developing the organisalion's aims, objectives and goals in accordance with the governing document, legal and regulatory guidelines. All Irustees are made aware of, and understand. their indiwdual and collective responsibilites. and should not be overly reliant on one or more individual trustees in any particular aspe¢t of the governance of the charity. BERA Trustees and office holders are expected to adhere lo the Nolan principles of public life. Appolntmenl of Trusteos BERA'S Governance year runs from 1st September. Elections for Council and individual posts lake place in spring before the Annual General Meeting with the results tsking effect from the 1 sl September. The Annual General Meeting {AGMI nomially takes place during the autumn. Directors begin Iheirterm from 1st September after the election or appointment is confimied. 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 Offi during the spring with the results reported to the Annual General Meeting and lernis of Offi beginning on 1 st September.
BRlSH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES Tw$teas' Induction and Training Twslees undergo appropriate training, which covers their obligations under the constitution, under relevant charity law and with reference lo 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 lo familiarise thomselves wth tho online information provided by the Charity Commission.. CC3 The Essential Trustee.. What you need lo know CC3lal The Essential Trustee.. What's Involved CC9 Campaigning and Political Activity Guidan for Charities CC11 Trustee Expenses and Payments CC29- Conflicts of Inleresl.. A guide for Charity trustees CC47 Complaints about Charities Charity Governan Code Wo are also a member of the NCVO and new trustees are prowded wth key documentation and access lo online courses as part of their induction. Trustees, responsibilities The Trustees are al80 directors of British Education81 Research Assoryalion under cMpanY law. The Trustees are responsible for preparing financial statements for each financial year. Under that law the Trustees have elected lo prepare the financial statoments in acrdance with United Kingdom Generally Accepted Accounting Practi Iuniled Kingdom Accounting Slandardsl and applicable law. Under company law, the Trustees must not approve the finanal statements unless they are 5a115fied that they give a true and fair view of the state of affairs of the charity and of ils incoming resources and application of reSoUrs, including the net income orexpenditure for that period. In preparing these financial slalements, the Trustees are required to: select suitsble accounting policies and then apply them consistently; make judgments 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 Stalernents,. and prepare the financial statements on the going nCeM basis unless it is inappropriate lo presume that the charity will ¢onlinu8 in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to énsurè that thé financial statements comply with the Compani8s Act 2006. The Trustees are also responsible forsafeguarding the assets of the charity and hence fortaking reasonabl8 steps lo prevent and delecl fraud and other irregularities. Commlttees and Remits Leadership Committee (LC) LC work in ¢lose cooperation wlh the Council as the de facto execub've committee of BERA. In addition, Council delegates authority to LC lo 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 OffIrS. Their principal responsibilities are to ensure that in all of ils activities BERA works towards its slralegic objectives. Their remit is monitoring and reviewing of all BERA actiwlies 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 sOurceS 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.
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES Finance and Operations Committee This committee has responsibility for overseeing HR policies, including staff development and review, and other broad arrangements that affect lems and conditions of our employees. contracts, regular financial oversight and operational relalionships.11 works closely alongside LC in ensuring that BERA'S finances and operations can support the organisation's strategic objectives and planned activities. Publl¢ations Committee The committee's principal responsibilities are to ensure thal BERA'S publications portfolio is well managed and upholds the highest academic standards. Conference & Events Committee Tha committee's principal responsibilities are lo ensure that the Annual Conference and programme of in- year 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 ils members appropriately in the light of our strategic plan including over5ighl of our special interest groups and awards. Rlsk Assessment ond Audlt Commlttee RAAC is a committee of the Council. It reports lo the Council, but its membors are not normally members of Council. This is intended to enable it to take an objective and independent approach to ils business. Ils role is to provide oversight and advice lo the Council on the effective functioning of the Association in relation to.. Risk management., Finanoal pro¢esses', Legal requirements- and Whistleblowing The committee has the authority to request information from any of the Assoaation ¢ommittees or working groups lo enable it to undertake its responsibilities. This committee manages the BERA Risk Register. Authority Ultimate authority for all Association business remains wth the Council. The Council delegates authorily to LC to act on behalf of the Asso¢ialion as required. Only the Officers and the Chief Exocutive have the authority lo sign ¢onlr8¢ts upon BERA'S behalf. Finances and Budgets BERA Council has 8 stslulory duty lo prepare financial slalemenls for each financial period, as sel out in the Slalement of Trustees, Responsibilities. The management of this is delegated to the Treasurer who oversees BERA'S finan$ in assoaalion with the Chief Executive. The Treasurer has formal responsibility for BERA finances and the BERA Office conducts oversight of the financial arrangements of the Asso¢iation and the day-104ay administTation of finan. BERA'S financial year runs from 1st January to 31 st December. A budget is approved by Counal prior lo the start of the financial year or as soon as practicable afteNards, End of year accounts will be reported to Council following the end of the finanryal audit as well as to 8a¢h yearfs AGM as well as regular updates during their meetings.
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES Staffing and Contracts The BERA Office comprises the staff employed to cary out the ¢harity's functions. Four of these staff were employed through the UCL Institute of Education IloEI until June 30 2023, which provided all personnel and employment facilities for them. UCL loE is also contracted lo provide office space and services. As of 1 July 2023. all staff were transferred lo BERA'S direct employment. By agreement, W8 continued lo use UCL Offi Spa while we made plans lo move into our own premises in 2024. For the 2023 year, the office core team comprised.. Nick Johnson- Chief Executive Sarah Fleming- Membe¥ship & Engagernent Manager Mare Moore- Events Manager David Chatteiiee- Finan¢a & Govemance Manager Hannah Marslon- Publications Manager Daniel Taylor- Events Co-ordinator {appointed March 20231 Paru Rai - Publications and Digital Communications Officer lappoinled March 2023) Heidi Hollowbread - Administrator (appointed May 20231 Accountsncy Setvices were provided by Kaya Taylor on a freelance basis IKLT Business Managemenll In the 2023, the Association has oblalned significant contracted services from.. ITD for prowsion of IT Wiley-81ackwell Publishers (publishers of ourjournalsl Soapbox Irllanagement of BERA website and other design services} Diners Club Intemational (Trainline business) Smartlmpacl (CRMI Coloutmew Print Solutions Total Mail Toast Design Consultancy Aurora {printingl The UCL Institute of Education (Offi space and slaffingl NCVO (Meeting room spa) PKF Littlejohn LLP {audilorsl Mills and Reeve LLP Ilegal services) All in the Loop Ltd (Conference appl Scrutton Bland Ltd {Insurance and Penslons Advice) Spaceslab'on {Storagel Conference Aston {cOnferen 2023 venue) Aramark Ltd (Conference 2023 social venue) Mernber5hip The membership who joined for the 2023 membership year totslled 2,85412022- 2.6511. Rlsk Assassment The Trustees have examined the Association's principal areas of operation and considered the major risks fad in each of these areas. In the opinion of the Trustees, the Association has estsblished resources and review systems which, under nomial conditions, should allow those risks lo be miligaled to an a¢ceptsble level in its day-to-day operations. The Association has a Risk Assessment and Audit Committee to monitor the work of the Associ81ion. This Committ$e reports lo the Council and carries out a detailed assessment of the Risk register each autumn. Following that, the register is shared with individual committees lo assess the risk and responses in their respective areas and they report back lo the Risk Assessment and Audit Committee. The chair of the Risk Assessment and Audit Committee also sils on BERA'S Finan & Operats'ons Committee.
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES Objectives and Activities In autumn 2021 we launched our new strate ic lan which has four main objectives.. To enhance the health of education as a discipline by nurturing a strong and confident research environment. To champion edu¢alion research. enhancing its use in policymaking and educabonal practi¢e. To Celebrate and recognise excellence in the education research community. To ensure a strong and sustainable future for BERA. This review summarises progress against these objectives and our achievements in 2023. To enhance the health ofeducation as a disopline by nurturing a strong and confident research enwronment, we.. Completed the first stage of our major initiative looking al Education.. The State of the Discipline, including.. A Syslematlc scoping review of the literature A survey of education researchers, work, experiences and identities An exploration of existing statistical data relating lo staff equality in UK higher education o An analysis of Research Excellence Framework (REF} impact case studies o A quantitative assassment of the progress of education as an academic discipline in UK universities through analysis of REF data We expanded the Early Career Researcher neOrk and held our first ECR conference. Supported the development and actiwty of our SIGS and networks. We develop&d further links with WERA through a writing seminar programme and we are hosting their focal meeting in 2024. Awarded over £50,000 in research grant funding. Awarded our small grants fund to 4 ngw projects under the theme of Education in a digital age. Usèd tha Brian Simon fund lo support research on Education and Democracy andlor History of Education. To champion education research, enhancing ils use in poli¢ym8king and educational practi. we.. Continlsed lo work and neOrk with other leamed soclelies. Built partnerships to engage practitioners. Supported a seminar series with ESRC and SRHE on °What are we educating forf and published a speaal issue of the BI( on the outcomes bringing together policymakers. educational practitioners and researchers.. Offered a wide programrne of events over the year. 50 online events and Presidential roundlables in Cardiff and Belfast. Released 4 issues of Research Intellig8nc8, commissioned on topical themes. Hosted over 1000 delegates al the BERA 2023 Annual Conference. Published the outcomes of our funded research to schools on developing a curriculum for environmental sustainability. The BERA Blog hosted nearly 200 new blogs this year and ran slx special issues. We had 213k page views, and it was read in 202 countries. To Celebrate and recognise excellence in the education research community, we.. Rewewed our awards and introduced new ones lo lebrate excellence across the disapline.. Equality in Education Academic Citizen of the Year. o Educational Research Book of the year Continued lo celebrate Early Career Researcher excellence through our Undergraduate, Masters and Doctoral awards. and awarded funding for research through our ECR Career Development Fellowship. Hosted our first ever awards event, celebrating and hearing from our winners. Our journals BERJ and BJET both increased their impact factors, and Review of Education and Curriculum Joumal received impressive inaugural impact factors. We had 1.5 million downloads across our porttolio.
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES To ensure a strong and sustainable future for BERA, we.. Reached over 30QO members for th8 firsl limè including thos8 joining ahead of 2024. Made further progress on our race equality action plan. Commissioned a VIeW of our governance structures & prosses. Flnalised and recruited lo a full office toam to increase Capacity. Completed transfer from UCL and scoped new office space. Developed a sustainability programme for BERA. Made plans for the launch of the BERA Teacher Network. Invested in our digital infraslruclure lo enhance the member offering and increase effi¢ien¢y. Increased our website reach to 1.1 million people. Thanks are extended to all staff. trustees. cornmittee members and other volunteers for their efforts over the year in delivering this extensive programme of work. 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 ar8 now above £2.4M and split beeen 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 wllh a policy of belng able lo ensure that a yearfs operating Costs are covered by our reserves and a ratio of 1.'1.4 beiween tumover and reserves has been an important benchmark for the association. The direction of travel means that we are currently well in eXsS of this ratio, and for several years we have had ¢onsiderably 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 il was in the years immediately preceding. BERA Coun¢il have continued lo sel deficit budgets lo help lower the ratio between turnover and reserves and the reserves policy is reviewed regulady. Our level of reserves means that the association is operating on a very secure financial fooling although we continued to be in a volatile situation with the ongoing pressures on UK higher education and the threats to our publishing income from open access manclales. BERA is not minded lo generate excessive funds in resetve if we have no immediate or mid-term need for them. What is important is that we have sufficient reserves for short-lemi crisis management BERA remains in a secure finanaal position where it can continue to plan for new ventures enabling us lo provide a broad offer lo our mernbers, bul we remain in an uncertain period in our history, and we will continue to monitor the impact that tho ext8mal environment might have on our organisation and ils finances. In 2023, we expanded our stsff team which has wnlribuled lo the need for healthy reserves to allow us lo fulfil our obligations. BERA is committed to act as a responsible employer of the stsff in its professional offlce, with approprtate con¢em for the health and well-being of our employees. In 2023, we completed the project for BERA to become ils own employer which was built on the principle, agreed by Council, that any new lemis and conditions should not lead lo a diminution in what BERA staff ara offèrèd. BERA now employs all staff on its own terms and conditions. Our ac¢ounls show that BERA'S medium-term financial position remains healthy and is slill secured by positive publishing agreements lopen access noiwilhstandingl and a high level of reserves. In most years this would mean that BERA can plan for the future fjth a high degree of confidence and werts able lo freeze both membership fees going into 2024. We continue to be financially prudent and to that effect we look a very sensible and pragmatic approach to budgel seiting for 2024 and beyond. 10
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE TRUSTEES Audit Information The Trustees who held office al the date of approval of this Trustees, Report Confirm that, so far as they are individually awa, there is no relevant audit information of whi¢h the Charity's auditors are unaware., and each Trustee has taken all reasonable steps that helshe ought lo have taken as a Trustee to make himselflhersèlf aware of any relevant audit information and lo establish that the Charity's auditors are aware of that information. Auditors PKF Litdejohn LLP has signified its wllingness lo continue in office. By Order of the Trustees Professor Vivienne Baumfield Trustee Dale.. 19.08.2024 11
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 Assoaation Ilhe 'charilable mpany'l for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, th8 Statement of Cash Flows and notes to the financial slalemenls, including a summary of significant accounting policies. The finanal reporting framework that has been applied in their preparation Is applicable law and Unlled Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements-. give a true and fair view of the slate of the charitsble company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including ils income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are fvrther described in the Auditorfs responsibilities for the audit of the financial stslemenls section of our report. We are independent of the charitsble company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢luslons relatlng to golng concarn In auditing the financial stalemenls, we have conclLJded that the trustees, use of the going conrn basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have perfomied, we have not identified any materi81 uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable companls ability lo continue as a going conrn for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem 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 Ihereon. The Iruslees are responsible for the other information contained within the trustees, annual report. Our opinion on the financAal statements does not cover the other infomialion and we do not express any form of assurance ¢on¢lusion thereon. Our responsibility is to read the other infomation 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 lo be materially misslaled. If we identify such rllalerial inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required lo report that fa¢l. We have nothing lo rew)rt in this regard. 12
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE AUDITORS Opinions on othar matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audiL' the infom)alion given in the Iruslees, report, which includes the directors, report prepared for the purposes of company law, for the finanaal year for which the financial statements are prepared is consistent with the financial slalemenls,. and the directors, pOrt included within the Iruslees, report has been prepared in accordan with applicatre legal requirements. 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 n the course of the audit, we have not idents'fied material misstatements in the directors, report included within the trustees, annual report. We have nothing lo report in respect of the following rnatters in relation lo which the Companies Ad 2006 and the Charities Act 2011 requires us to report to you if. in our opinion.. adequate and sufficient accounting records have not been kept by the charitable corvTrpany, or relums adequate for our audit have not been 1Ved fmm branches not visited by us., or the charitable company's financial stalemonts ar6 not in agreement wlh the accounting records and relums., or certain disclosures of Iruslees. remuneration spectfied by law are not made,. or we have not recoived all the information and explanations we require for our audit; or the trustees were not entitled lo prepare the financial ststements in accordance with the small companies, regime and take advantage of the small companies. exemptions in preparing the dire¢tors' rew)rt and from the requirement lo prepare a strategi¢ r$port. Responslbllltles of trustees As explained more fully in the trustees, statement of responsibililies, the trustees (who are also the directors of the charitable company for the purposes of company lawl 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 lo enable the preparation of finanaal statements that are free from material misslalemenl, whether due lo fraud or error. In preparing the charitable company financial ststements, the trustees are responsible for assessing the charitable company's ability lo continue as a going concèrn, disclosing. as applicable, matters related lo going concem and using the going conrn basis of accounting unless the Iruslees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Auditorfs responslbllllles for the audlt of the flnanclal statements We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in ac¢ordance with those Acts and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whelher the finanaal statements as a whole are free from material misslalement. whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detacl a material misslalement 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 tsken on the basis of these financial slalemenls. Irrégularities, induding fraud, are instanS of non<ompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of rregularities. induding fraud. The extent to whi¢h our procedures are capable of detecting irregularities, including fraud is detailed below: 13
BRITISH EDUCATIONAL RESEARCH ASSOCIATION REPORT OF THE AUDITORS We obtained an understanding of the charitable company and the sector in which they operale to identify laws and regulations that could reasonably be expected to have a direct effect on the financial ststements. We obtained our understanding in this regard through dis¢ussions with management, industy research, application of cumulative audit knowledge and experien of tho se¢tor. We delem)ined the principal laws and regulations relevant to the charitable company In this regard lo be those arising from Companies Act 2006. Charities Act 2011, Charities (Accounts and Reports) Regulations 2008 and lax legislation. We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the charitable company wth those laws and regulations. These procedures included, bul were not limited to, enquiries of management and reviewing of minutes. We also identified the risks of rnalerial misstatement of the financial slalemenls dLJe to fraLJd. We considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls, that the completeness of liabilities was also an area of risk. As in all of our audits, we addressed the risk of fraud arising from management override of controls by perfomiing audit procedures which included, but were not limited lo.. VieWing journals,. reviewing accounting estimates for evidence of bias,. and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not delecl all irregularities, including those leading to a material misstatement in the financial statements or non-complian with regulation. This r4sk incre8s&s the more that ¢omplian¢e with a law or regulation is removod from the events and Iransa¢tions refl&cled in the financial slalemenls, as wa will be less likely lo become aware of insl8ncès of non- complian. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional Conalment. forgery. collusion. omission or misrepresentation. A further description of our responsibilities forthe audit of the finanaal statements is located on the Financial Reporting Council's website at.. www.frc.o .uklaudilorsres onsibilitiesht auditor5 audit-as5urance auditor-s- onsibilities-for-the-audit-of-the-Ei descri tion-of-the-auditor°kE2°h80°k99s-res onsibilities- forh www.frc.or auditors audit-assurance standards-and- idance 2010-ethical- standards-foi-auditors- . This description fomis part of our audilorfs report. res Use of our report This report is made solely to the charitable company's members, as a body, in accordance wilh Chapter 3 of Part 16 of th8 Companies Act 2006 and to the charitsble company's Iruslees. 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 slate to the charitable company's members and trustees those matters we are required lo stale to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law, we do not a¢pt or assume responsibility to anyone, other than the charitable MpanY and the ¢haritabl8 company's as a body and the charitable company's trustees as a body, for our audit work, for Ihls report, or for the opinions we have forffled. Aaslair Duke (Senior Stalulory Audilorl For and on behalf of PKF Littlejohn LLP Statutory Auditor 15 Westfery Circus Canary Wharf London E14 4HD 16 September 2024 14
BRITISH EDUCATIONAL RESEARCH ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES Yaar ènded 31 De¢ember 2023 Unrestricted Restricted Funds Funds Totsl Funds 2023 Total Funds 2022 Notes Income from: Membership subscriptions Investments Charitable Activities 221.270 52,521 1,073,044 221.270 52,521 1,073,044 197,686 45,712 915,585 Total Income 1,346.835 1,346.835 1,158,983 Expenditure on: 3&4 Raising funds Charitable aclimties 143,533 1,217.256 143,533 12,500 1.229,756 165,270 923,927 Total Expendlture 1,360,789 12,500 1,373,289 1,089.197 Nel gainlllossl on investments 93,527 93,527 1202,693} Net Movement In Funds 79,573 {12,5001 67,073 1132,9071 Reconciliation of Funds- Fund balances brought foNard 2,381,246 22,031 2,403,277 2,536.184 Balance at End of Year £2.460,819 £9.531 £2,470.350 £2.403.277 The Charily has no recognised gains or losses other than as ststsd above. Al of the activities represent ¢onlinuing activities of the Charitable Company. The Accounting Pollcies and Notes on pages 20 10 26 form part of these Finanaal Statements. 15
BRlSH EDUCATIONAL RESEARCH ASSOCIATION Registered Company No. 08284220 BALANCE SHEET At 31 December 2023 Note 2023 2022 Fixed Assets Tangible fixed assets Investments 55,173 1,417.186 9,302 1,323,659 Current Assets Debtors Cash at bank and in hand 325.323 758.204 285,991 914,697 1.083.527 1,200,688 Creditors.. amounts falling due within one year 10 185,5361 {130.3721 Net Current Assets 997,991 1,070.316 Net Assets £2,470,350 £2,403,277 Funds Restricted funds 9.531 22,031 Unrestrlcted funds General Designated 2,096,148 364.671 2.016,575 364,671 £2,470,350 £2,403,277 Approved by the Board of Trustees on the 19th August 2024 and signed on its behalf by Professor Vlvlenne Baumfield Trustee The Accounting Policies and Notes on pages 20 to 26 form part of these Financial Statements. 16
BRITISH EDUCATIONAL RESEARCH ASSOCIATION STATEMENT OF CASH FLOWS Year endad 31 Dec8mber 2023 2023 2022 Cash flow from operating adivitias Iso9 below} {155.6921 156,6111 Cash flow from investing activities Payments to acquire tangible fixed assets Payments to acquire investments Proceeds from sale of investments Diviéends and interest from investmen15 153.3221 {8.4751 128,8161 28,816 56.043 52,521 Net cash flow used in investing activities {8011 47.568 Change in cash and cash equivalents in the year {156,4931 19,0431 Cash and cash equivalents at start of year 914.697 923.740 Cash and cash aquival8nts al end of year £758,204 £914,697 Cash and cash equivalents consists of: Cash al bank and in hand Short temi deposits 758.204 914,697 Cash and cash equivalents at end of year £758,204 £914,697 Net Incomellexpendlture) for the year 67,073 1132,9071 Dividends and interest from investments Depreciation of tangible fixed assets IGainsyLosses on investments Iln¢reaselldecrease in debtors IIDecreasellincrease in creditors (52,5211 {56,0431 7,451 18,102 193,5271 202,693 {39,3321 186,3381 {44,8361 {2,1181 Net cash flow from operating activities £{155,6921 £156,611) The Accounting Poliaes and Notes on pages 20 10 26 fomi part of these Financi81 Ststements. 17
BRITISH EDUCATIONAL RESEARCH ASSOCIATION ACCOUNTING POLICIES General Infomiation and basis of preparatjon British Educational ReSeah Assoaalion is a company limited by guarantee in the United ngdOM. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per MeMr of the Charity. The address of the rtsgislered Offi is given in the charity information on pag8 2 of these financial slatamenls. 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 constilutes a public benefit entity as defined by FRS 102. The finar*cial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practi applicable lo charities preparing their accounts in acconjance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Financial Reporting Standard applicable in the United Kingdorn and Republic of Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Pra¢b'ce as il applies from l January 2019. The financial slalements are prepared on a going concern basis under the historic31 $1 convention, modified to include certain items al fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The significant ac¢ounts'ng policies applied in the preparation of these finanaal statements are sel out below. Theso poliaes have been consistendy applied to all years presented unless otherwise slated. Fund Accountlng Restricted funds comprise donations and grants which have been reiVed for specific purposes, or which are subjed to spe¢ific conditions imwsed 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 Pufposes. Designated funds represent those funds designated at the discretion of the Trustees. Incomlng Resources All incoming resources are included in the Statement of Finanaal A¢tiwties {SoFAI when the charity is legally entitled lo the income, after any performance conditions havè been mel. when the amount can be measured reliably and when il is probable that the income will be received. Income derived from membership subscriptions and sales is credited to the Statement of Financial Activities {SOFAI in the period lo which it relates. Fees represent amounts invold lo third parties for the provision of services and are recognised on the basis of 6nlitlemenl. Gran15 and donations represent amounts from individuals, corporations, trusts and funding bodies and are credited lo the SOFA in the year in whlch they are re¢eivable. Investrnent incorne is recognised as the charills right lo receive payment is established. 18
BRITISH EDUCATIONAL RESEARCH ASSOCIATION ACCOUNTING POLICIES Resources Expended and Basis of Allocation of Costs Expenditure is recognised where there is a legal or conslruclive obligation lo make payments to third patties, it is probable that tho selllemenl wtll be required and the amount of the obligation can be measUd reliably. All expenditure is accounted foron an accruals basis and is reported gross of related income on the following bases-. Costs of generating voluntary income comprise the direct costs associated with attracting voluntary income, plus a proportion of cost that cannot be directly attributed Isupport costs). Expendllure on charitable activities comprises direct expenditure. Where costs cannot be directly attributed (support coslsl, they have been allocated lo the activities on a basis consistent with the use of resources. Support costs are those that assist the work of the charity but do not directly represent charitable actiwb'es and include office costs, govemance costs, and other administrative cosis. They are in¢urred directly i support of expenditure on the objects of the charity. Where support cosis ¢annot be directly attributed lo particular headings they have been allocated lo cost of raising funds and expenditure on Charitsble actiwties on a basis consistent with usg of the resources. Tangible Fixed Assets, Depreciation and Impairment Tangible fixed assets are stated at cost less ac¢umulated 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 Ljseful life. The annual deprociation rates and methods are as follows.. Fumilure, office and te¢hnic81 equipm8nl- 250/¢ 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 lo be below ils 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 al each balance sheet dale. with changes in fair value recognised in 'nel gains I (losses} on investm¢nts' in the SOFA. Debtors and creditors receivable I payable within one year Debtors and creditors with no ststed interest rale and recelvable or payable within one year are recorded al transaction pri¢e. Taxation The Charitable Company is generally exempt from taxation with the exception of Value Added Tax. Where appropriate all expenditure is stated in¢lusiv8 of the related Value Added Tax. Leases Rentals payable and receivable under operating leases are charged lo the SOFA on a straight line basis over the period of the lease. 19
BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Decambar 2023 1. Invostment Income 2023 2022 Bank interest and investment income £52.521 £45,712 Investment income in both years relates to unrestricted funds. 2. Income from Charitable Activities 2023 2022 Publications and Royalties Annual conference Other income Gifts in kind 716,724 327,742 4,578 24,000 655,326 232,234 4,025 24,000 £1,073,044 £915,585 Income from charitable activities consists of £1.073,04412022- £915,585) relating lo unrestricted funds and £nil {2022 £nill lo reslricled funds. 3. Expenditure Support Dirèct costs costs (sea note 41 Depreciation Total 2023 Total 2022 Raising funds Charitable activities 143.533 574.134 143,533 1.229,756 165,270 923,927 7,451 648.171 £7.451 £648,171 £717.667 £1.373,289 £1.089,197 Expenditure relates to £1,217,256 {2022- £1,089.1971 from unrestricted funds and £12,50012022- £nil) from restricted funds. 4. Support Costs Stsff and associated Premises Govaman costs costs costs Totsl 2023 Total 2022 Raising funds Charitable activities 104,945 419,782 26,782 107.130 11,806 47,222 143,533 574,134 145,092 435,282 £524,727 £133,912 £59,028 £717.667 £580,374 Govemance costs.. Audit fees A¢¢ounlancy Other 6,000 13,924 39.104 5,820 10,213 26,309 £59,028 £42,342 20
BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 5. Net Incomlng Resources This is stated after charging.. Depreciation Auditors, remuneration £18,701 £6,000 £18,102 £5,820 audit 6. Trustees and Contracted Parsonnel Stsff ¢osts are for 8 employees {2022 61. Four of these were recharged from the UCL Institute of Education until 301h June 2023. From 1sI July 2023. those four staff transferred to BERA under a TUPE arrangeent. The recharge costs for those 4 staff for six monlhs12022, 6 staff over twelve months) was £156.117 12022 £307,495). At the yearond there were eight directly employed members of staff using the Assoaation's own payroll. During the course ofthe year, there was one employee earning a salary between £60,000 and £70,000 {2022 - none} and one employee eaming a salary between £80,000 and £90,000 12022 none). Previously, one employee had been earning a salary between £70,000 and £80.000. The total amount of employee benefits received by key management personnel during the year was £400,013 12022 £164,452 relating to just Iwo employees). The Assoaation considers its key management personnel to compromise the Chief Executive, Events Manager, Publications Manager. Finance and Govemance Manager and Membership and Engagerllent Manager. Fifteen trustees {2022 - fifteen) received a lolal of £20,007.3812022 - £23,560) reimbursed travel and Skjbsistence expenses in the year. No Trustees received any remuneration in the year. Stsff costs 2023 2022 Recharges from UCL Institute of Education Wages and salaries Social security costs Pension contributions 156,117 193,631 85,726 47,799 307,495 4Q,344 14,523 10,344 Total staff costs £483,273 £372,706 The average number of p8rsons employad by the Company during the year was.. Recharged employees Directly employed staff Totsl 21
BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year endod 31 December 2023 7. Tangible Fixed Assets Furnlture, offl¢e and technical equipment Total Cost At 1 January2023 Additions Disposals 209.954 53,322 15,6071 209.954 53,322 {5,6071 At 31 December2023 257.669 257,669 Accumulated Depreciation Al 1 January 2023 Charge for year Released on disposal 200,652 7,451 15.6071 200,652 7,451 15,6071 At 31 December 2023 202,496 202,496 Net Book Valua Al 31 December 2023 £55.173 £55,173 At 31 De¢omber 2022 £9.302 £9,302 The Charitsble Company had capital commitmènts tolalling £3.862 at 31 December 2023 {2022- none). 8. Investmènts 2023 2022 Balance brought forward Additions Sale proceeds Net gainslllosses) Movement in cash al stod(brokers 1.323,659 1,526,352 29.029 128,8161 93.527 1202,6931 1213) £1,417.186 £1,323.659 Investments al fair value include Global funds £1.417.186 £1,323,659 £1.417,186 is held in the Quilter Investors Ltd QC Global Income and Growth Fund. No other individual investment is considered lo be material. The Cost of investments was £1,508,42312022 - £1,508,423).
BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year endèd 31 December 2023 9. Debtors 2023 2022 Prepayments and accruad income Taxation 308,134 17.189 231,361 54,630 £325.323 £285.991 10. Creditors: amounts falling due within one year Trade Creditors Accruals and deferred income 12,807 72,729 38,731 91,641 £85,536 £130,372 Included within creditors is £8,980 12022 - £17.3201 of deferred InMe relating to membership subscriptions received in advance. 11. Analysls of Total Funds Tangible rixed assets Net Current assets As at 31 December 2023 Investments Total Reslricled Funds Unrestricted Funds 9,531 9.531 988,460 2,460,819 55,173 1,417,186 £55,173 £1,417.186 £997.991 £2,470,350 Tangible fixed assats Investments Net current assets As at 31 December 2022 Total Restricted Funds Unreslricl8d Funds 22,031 22,031 1,323.659 1,048,285 2,381,246 9.302 £9,302 £1,323,659 £1.070.316 £2.403.277 12. Related Party Transactlons wlth Trustges and Connected Persons There were no transactions with related paeS or connected persons in the year. 13. Contlngent Llablllties There were no conlingenl Ilabilities to disclose al 31 December 2023 {2022 - none). 14. Post Balance Sheet Event There were no events to disclose subsequent lo the year*nd. 23
BRITISH EDUCATIONAL RESEARCH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Dacomber 2023 15. Flnanclal commitments Al 31 Dember 2023 tha Charitable Company had future minimum lease palentS under non- cancellable operating leases as follows= 2022 2021 Not later than one year 16. Restrlcted and Unrestrictad Funds Asat1 January 2023 Transfers and A5at31 Incoming Rèsources Investmént December resources expended movéments 2023 Restricted Desmond Nuttall Fund Brian Simon 2.574 19,457 2,574 6,957 {12,5001 Total 22,031 112.5001 9,531 Unrestricted General Fund Designated Funds Open access UCL-IOE 2,016,575 1.346,835 11,360,789) 93,527 2,096.148 250.000 114,671 250,000 114,671 Total Funds £2,403,277 £1.346,835 £11,373,289) £93,527 £2,470,350 A$at1 January 2022 Transfers and Asat31 Incoming Resources Investmènt December rosour¢es expended movements 2022 Rastrl¢ted Desmond Nuttall Fund Brian Simon 2,574 19,457 2.574 19,457 Total 22.031 22,031 Unrestrfcted General Fund Designated Funds Open acSS UCL-IOE 2,019,482 1,158,983 1,089,197 {72,693} 2.016,575 380.000 114,671 1130,0001 250.000 114,671 Total Funds £2,536.184 £1,158,983 £1,089.197 £1202,6931 £2.403,277 24