SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A Company Limited by Guarantee and Not Having a Share Capital Company No: 09044774 Charity No: 1161961
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
MYRUS SMITH
Chartered Accountants Norman House, 8 Burnell Road, Sutton (Surrey) SM1 4BW
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital Company No: 09044774, Charity No: 1161961
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
CONTENTS
REPORT OF THE TRUSTEES ......................................... 1 INDEPENDENT AUDITOR’S REPORT ............................ 15 STATEMENT OF FINANCIAL ACTIVITIES ...................... 18 BALANCE SHEET ............................................................ 19 NOTES TO THE ACCOUNTS .......................................... 20
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital Company No: 09044774, Charity No: 1161961
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
1. Report of Trustees for the Year Ended 31 December 2023
The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report along with the financial statements of the charity and its subsidiary for the year ended 31 December 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
2. Objectives and Activities
The charitable objects of the Sociological Review Foundation Limited are defined in Article 4 of the governing document as follows: “To advance the education of the public in general (and particularly among students at the University of Keele) on the subject of sociology in such ways as the trustees think fit, including by awarding scholarships for students studying sociology and promoting research for the public benefit in all aspects of the subject of sociology and to publish the useful results.”
The Foundation was established in 2015 and is funded by the proceeds of sales and subscriptions of The Sociological Review journal. Its charitable activities focus on public sociology and support for early career researchers. The Foundation’s aims are set out in the 2024-29 Strategic Plan and the 2023 Manifesto.
2.1 Public Sociology
Beyond the essential scholarly work of the Sociological Review Journal (published via our trading subsidiary, the Sociological Review Publication Limited), it is the Foundation’s mission to promote sociological thinking to audiences beyond academia; raise wider awareness of key debates that shape contemporary societies; and direct and support projects that intervene in emerging issues. This is done in a number of ways, including the open-access digital Magazine; the Connected Sociologies Curriculum project; the Uncommon Sense podcast and other podcasts whose dissemination we support.
As part of our commitment to public sociology we organise or fund a number of events including:
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The Sociological Review Annual Lecture, a free public event
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The Sociological Review Seminar Series, which supports scholars to undertake in-person, hybrid and online seminars and symposia aimed at scholarly and non-scholarly audiences
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Online and in-person events that bring together established and new researchers and are aimed at both scholarly and general audiences.
2.2 Academic Career Development Support
In keeping with its charitable mission, the Foundation is proud to prioritise support for early career researchers, both inside and outside of the university environment. The support we offer, via open competition or based on need, includes:
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The Sociological Review Fellowship, based at Keele University, which allows an early career scholar to spend a year writing a first monograph.
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Career development opportunities for ECRs, such as the annual ECR writing retreat.
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Bursaries for unfunded PhD and postdoctoral researchers to attend our events. In 2023, £2,300
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in funding of this kind was awarded.
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Opportunities for ECRs to publish in the Sociological Review magazine, and receive editorial feedback and training on writing for a broad global readership.
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Opportunities for ECRs to join the Sociological Review Editorial Board, where they receive training on refereeing and other skills under the mentorship of an experienced editor.
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3. Achievements and Performance
3.1 Journal and Monograph Events in 2023
Four free online webinars led by Sociological Review journal editors, reviewers and authors provided insights on academic publishing for early career researchers and contributors from the Global South.
Transnational engagement with the sociological imagination
2 August 2023 | Attendees: 64 | Video views in 2023: 135 Transnational sociology, the peer review process and the Sociological Review’s internationalisation ethos were the focus of this session. Dr Jung, a transnational sociologist, offered insights from his article “Quiet politics: Queer organizing in corporate Singapore”. View video
Writing for international audiences: the author’s perspective
10 August 2023 | Attendees: 67 | Video views in 2023: 67
What are the challenges and rewards of sharing sociological research with a global readership? Dr Cao reflected on her recent paper “Cultivating shenti in everyday life: Self, relationality and embodied masculinity in China”, and with Dr Martin discussed how to approach academic writing that aims to serve a broad global readership. View video
Peer-reviewing Global South papers: EDI and identifying blind spots
30 August 2023 | Attendees: 67 | Video views in 2022: 197
In an open look at review processes at the journal, this session asked: How do peer reviewers really see scholarship by international scholars and scholars from the Global South? What role should EDI principles play in peer reviewing? What do early career scholars need to know about this process? View video
Class, Emotions and the Affective Politics of Social Inequality: Monograph launch event
28 April 2023 | In-person attendees at University of Sheffield: 75
Co-editors Jay Emery, Ryan Powell and Lee Crookes led conversations with contributors and other scholars working in relevant fields.
3.2 The Sociological Review Fellowship
The Sociological Review Fellowship, at an annual cost of approximately £60,000, is a significant component of the Foundation’s early career researcher initiatives. Established in 1998, this annual award funds a recent PhD to undertake the work required to convert doctoral research into publications, ordinarily a first book-length monograph, while hosted at Keele University.
William Zhengdong Hu, whose research focuses on China’s Social Credit System, was named 2023– 24 Sociological Review Fellow. His appointment followed that of 2022–23 Fellow Sally King, whose book Menstrual Myth Busting: The Case of the Hormonal Female will be published in 2025.
3.3 The Sociological Review Annual Lecture
The Sociological Review Annual Lecture presents the work and insights of an important sociological thinker to a broad audience via a free, in-person public event. The 2023 lecture, entitled Dissonant Intimacies: Coloniality and the Failures of South-South Collaboration, was held at Conway Hall in London, and featured Srila Roy, Professor of Sociology at the University of Witwatersrand.
Sixty-seven people attended the event in person, and there were 410 views of the video recording of the lecture by the end of 2023. Interview with Srila Roy. View video
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3.4 The Sociological Review Seminar Series
The Sociological Review Foundation makes available £10,000 each year to support scholarly seminars on subjects within the publishing interests of The Sociological Review journal. Funding to run a single seminar, or a series of up to three seminars, is offered through open competition, giving scholars, early career researchers and research groups the chance to benefit from collaboration with The Sociological Review. Academics are invited to submit proposals for online or in-person events that involve collaborations across institutions and disciplines and also welcome those that connect to wider communities and the arts. Applicants are encouraged to include a public engagement component to their event and by working and thinking across borders and cultures.
Childhood Publics and the Child’s Gaze: Gazing at childhood in the public sphere
20 April 2023 | In-person attendees: 25
The first event in the three-part seminar series included a morning seminar open to all that critically explored traditions of picturing childhood in the public sphere. An afternoon creative workshop brought together doctoral students, early career researchers, and researchers working in non-academic contexts. Listen to podcast recording
Childhood Publics and the Child’s Gaze: Children returning the gaze
11 May 2023 | In-person attendees: 25
The second seminar took the images of childhood as an entry point into the notion of the gaze. It explored children’s gazes onto the world and the issues involved in making these gazes public. A morning seminar was followed by an afternoon workshop that drew on collections from the Children’s Photography Archive. Listen to podcast recording
Childhood Publics and the Child’s Gaze: Ethics and infrastructures for the child’s gaze
16 June 2023 | In-person attendees: 25
The final event in the series focused on ethics and infrastructures for the child’s gaze. The morning seminar evaluated the role archives and museums could play in a future that takes the child photographer seriously. The workshop explored child photography scenarios to develop sensibilities for ethical practice. Listen to podcast recording
Inequalities and new solidarities in work between people and equids
24 May 2023 | Online attendees: 48
The first in a two-part online series aiming to reframe our understanding of work as an interspecies endeavour, focusing on the shared work undertaken by people and horses, donkeys and mules. Participants included researchers and practitioners based in the UK, Canada, Brazil, Mexico and Austria. View digital booklet
Inequalities and new solidarities in work between people and equids
21 June 2023 | Online attendees: 59
The second of two online seminars in a series, the event brought together researchers and practitioners based in the UK, Canada, Pakistan, Finland, Nepal and Austria. View digital booklet
Liminal texts – Writing Society Between Literature and Sociology
13 October 2023 | In-person attendees: 50
This hybrid event explored the ways in which we write sociologically, literature as a resource for sociological thinking, and the types of texts that inhabit multiple realms within and outside of sociology and literature. The day included panel presentations on sociological fiction, magical realism and storytelling, an open mic session and a writing workshop.
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3.5 Connected Sociologies Curriculum Project
The Connected Sociologies Curriculum Project, funded and overseen by the Sociological Review Foundation, is an educational platform that provides open-access audiovisual and written resources for students, teachers and academics interested in decolonising school, college and university curricula. The cornerstone of this public engagement project is a series of themed modules comprising video and supplementary educational resources. Eight modules have been published to date, with 49 lecture videos now available.
The Making of the Modern World: How colonial processes have structured the making of the modern world and accounts of its creation.
British Citizenship, Race, and Rights: How notions of Britishness and citizenship have been historically constructed since 1948 and how the UK’s colonial history frames contemporary debates around citizenship, rights and race.
Colonial Global Economy: The significance of historical colonial relations to the establishment and continued reproduction of global political economy.
Policing ‘Crime’ and ‘Violence’: How modern iterations of the police are inextricably bound up with Britain’s imperial project.
Modern Social Theory: The legacy of theorists Tocqueville, Marx, Weber, Durkheim and DuBois, and the failure to treat colonialism and empire as central to the development of modern society.
Migration, Borders, Diaspora: How colonial histories shape contemporary immigration policies, and how those policies lead to racially stratified mobility, immobility, inclusion and exclusion.
The Environment and Climate Change: How climate change works through, and exacerbates, longstanding inequalities and exploitation, and its connection to colonial histories.
The Politics of Inequality: Focusing on non-doms, food banks, deep poverty, health inequalities, the rich, corporate welfare and more. Further modules forthcoming in 2024.
Summer School 2023 Race, Class and ‘Crises’
3–4 August 2023 | Attendees at BSix Sixth Form College, London: 120 on day 1, 100 on 4 August A free in-person event aimed at sixth-form students, undergraduates, teachers and members of the public. Sessions explored the politics of race and class in the context of the manifold crises confronting us today as well as the ways we can collectively forge alternative futures and a more hopeful present. View the Opening Plenary and the Closing Plenary
From the Culture Wars to Reparative Histories
31 March 2023 | Attendees at Brighthelm Centre, Brighton: 90
A free one-day public event that brought together scholars of diverse disciplines to explore the legacies of the British empire. Its sessions aimed to contest the framing, common across many media outlets, of a culture war and sought instead to orient conversations through the lens of reparative histories. View the Opening Plenary, a Morning Session and the Closing Plenary
Who Do We Think We Are?
27 October 2023 | Attendees at Lancaster University Library: 40 A collaborative workshop for educators and students aged 16+, as well as undergraduate and postgraduate students and scholars, that took a closer look at race, migration and belonging in the UK. It foregrounded approaches to these topics that are attuned to the relationships between past and present, and between local and global geographies, and examined some of the legacies of colonial and global histories in contemporary British society. View the Opening Plenary
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3.6 Academic Career Development
Early Career Researchers Day
8 December 2023, Demorgan House, London | Attendees: 19 Travel and accommodation bursaries awarded: 10, total amount: £1,190
This free in-person Research Day, held in conjunction with the 2023 Sociological Review Annual Lecture, was open to postgraduate researchers, and early career scholars. Places were awarded on a competitive basis. The aim of the event was to share insights on the publishing of a first academic monograph, as well as on the public communication of sociological research.
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Session 1: Research Collaborations from Proposal to Publication, with Professor Srila Roy
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• Session 2: Publish or Perish: Strategies, tips and tricks for communicating sociology, with Professor Karen O’Reilly and Dr William Zhengdong Hu
Writing Retreat for Mid-Career Scholars
17-19 April 2023, Gladstone’s Library, Wales | Attendees: 15 Travel bursaries awarded: 7, total amount: £800 Since 2016, the Sociological Review Foundation has offered funded writing retreats for early career scholars, allowing participants to focus on writing a journal article or other academic output within a supportive and focused environment. In 2023, the opportunity was extended to mid-career researchers. The retreat was free to attend and places were awarded on a competitive basis.
Writing Retreat for Early Career Researchers
8-10 November 2023, Gladstone’s Library, Wales | Attendees: 14 Travel bursaries awarded: 5, total amount: £310 The retreat offered participants an opportunity to spend three days writing in a tranquil environment, as well as the chance to rest and socialise. Nine of 14 participants were PhD candidates; five were postdoctoral or other researchers, or teaching fellows. Asked in a participant survey if the event met their expectations, respondents gave it an average rating of 4.9 out of 5.
Podcasting for Sociologists: The Inside Story on Storytelling, Structure and Scripting
27 July 2023 | Attendees: 76 | Video views in 2023: 218 In the first of two free online masterclasses, Professor Benson was joined by Alex Briand, executive producer of the top-ranked true crime podcast RedHanded. They discussed what academics need to know to speak to podcast listeners, what makes an engaging and memorable podcast episode – and most importantly, how to create one. View video
Podcasting for Sociologists: The Inside Story on How to Get Media Coverage
28 July 2023 | Attendees: 76 | Video views in 2023: 152 In the second masterclass, Professor Benson asked UK journalist Fiona Sturges for her thoughts on recent developments in podcasting, the research-informed podcasts that have caught her attention, her advice on what to do – and what not to do – when getting media coverage – and what makes a podcast not only worth writing about, but truly memorable. View video
3.7 The Sociological Review Podcast
Uncommon Sense
A podcast that sees our world afresh, through the eyes of sociologists, Uncommon Sense aims to create a space for questioning taken-for-granted ideas about society, and for imagining better ways of living together and confronting our shared crises. Each episode typically features a conversation with one academic, focusing on a theme or issue. The podcast received £27,700 in funding in 2023 and comprised 12 episodes, including a bonus episode and one podcast swap. During 2023, there were 16,889 downloads of Uncommon Sense episodes across all podcast platforms, up from 4,567 in 2022.
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The Uncommon Sense section of the Sociological Review Foundation website drew 1,786 unique visitors and 2,176 pageviews over the year.
Episode 1: Taste, with Irmak Karademir Hazir Episode 2: Breakups, with Ilana Gershon Episode 3: Solidarity, with Suresh Grover, Shabna Begum and Karis Campion Episode 4: Europeans, with Manuela Boatcă Episode 5: Nature, with Catherine Oliver Episode 6: Performance, with Kareem Khubchandani Episode 7: Success, with Jo Littler Episode 8: Anxiety, with Nicky Falkof Episode 9: Spirituality, with Andrew Singleton Episode 10: Rules, with Swethaa Ballakrishnen (released in 2024) Episode swap: Who do we think we are? presents Global Britain Bonus episode: Public Sociology, with Gary Younge, Chantelle Lewis and Cecilia Menjívar
Spatial Delight
Launched in late 2022 with three episodes, and followed by eight more in the first half of 2023, Spatial Delight is a multi-part podcast series about space, society and power, inspired by British geographer Doreen Massey. The series seeks to inspire listeners to think about space and place as full of power, and to imagine political alternatives to the current world order. It is presented, written and produced by Agata Lisiak, funded by the Volkswagen Foundation, and hosted by the Sociological Review Foundation. In 2023 there were 14,977 downloads of Spatial Delight episodes across all podcast platforms, up from 3,765 in 2022. The Spatial Delight section of the Sociological Review Foundation website drew 2,876 unique visitors and 3,849 pageviews over the year.
Cities for the Many not the Few, with Ash Amin and others Geometrías del Poder, with María Eugenia Fréitez, Reinaldo Iturriza and Erick Moreno Superlano Space Invaders, with Nirmal Puwar and Agata Lisiak Geographical Imaginations, with Heba Y. Amin and Agata Lisiak Political Engagement, with Jo Littler, James Marriott and Agata Lisiak Invasión Espacial, with Ana Cristina Barría Knopf and Bose Sarmiento Time to Think, with Yasmin Gunaratnam and others Visual Delight, with Bose Sarmiento and Adèle Martin
The Stigma Conversations
What is stigma? How does it shape a world broken by poverty, prejudice and injustice? These are the questions asked in The Stigma Conversations podcast, led by Imogen Tyler, and presented in partnership with the Sociological Review Foundation. All five episodes were released in February 2023 and covered topics including poverty and austerity, racism and Brexit, and culture wars. There were 3,068 downloads during 2023, and the Stigma Conversations section of the Sociological Review Foundation website drew 1,464 unique visitors and 1,919 pageviews over the year.
Episode 1: Why Stigma? with Michaela Benson Episode 2: Tattooing and resistance with Alice Bloch Episode 3: Poverty Emergency! with Helen Greatorex Episode 4: Doing Anti-Racism with Geraldine Onek and Jasmine Patel Episode 5: Apocalypse and change with GP Andy Knox
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Politics After the Pandemic
How has COVID-19 altered our culture, society and world? This is the question at the heart of Politics After the Pandemic, led by anthropologist Erica Lagalisse. Launched in March 2023, this mini-series explored ideas of an all-knowing elite and claims of government plots, and looked at the social and historical reasons that conspiracy theories develop. The podcast achieved 977 downloads in 2023. The Politics After the Pandemic section of the Sociological Review Foundation website drew 631 unique visitors and 881 pageviews over the year.
Episode 1: The Anthropology of Conspiracy Theory, with Elżbieta Drążkiewicz and Erica Lagalisse Episode 2: Conspiracy Theory During the Covid-19 Pandemic, with Drążkiewicz and Lagalisse Episode 3: Conspiracy Theory, Modernity and Class Respectability, with Drążkiewicz and Lagalisse
3.8 The Sociological Review Magazine
The Sociological Review’s open-access digital Magazine offers insights grounded in sociological thinking via lively writing for a broad global readership. In addition to research-informed articles by contributors, the issues included book reviews, archive highlights and relevant papers from The Sociological Review journal that were made free to view for a two-month period. Each magazine issue was illustrated with commissioned artwork, and illustrators were paid a fee.
Support from professional sub-editors helped to strengthen the quality, clarity, accuracy and reach of content, in keeping with the organisation’s public sociology remit. For the many contributors who were early career scholars undertaking their first journalistic/non-journal article aimed at a non-academic readership, the editorial process offered a valuable career development opportunity. In 2023 the Magazine published five issues and 46 original research-informed articles by scholars in five continents and attracted 58,149 unique website visitors and 93,169 pageviews.
April: Post-Elizabethan Futures, guest edited by Laura Clancy June: Artificial Intelligence, edited by Milena Kremakova August: Strikes and Care, edited by Asiya Islam October: Numbers, edited by Milena Kremakova December: Mess, edited by Asiya Islam
3.9 Book Reviews
The Sociological Review’s Reviews section offers reviews of new and noteworthy titles in sociology and cognate disciplines. In 2023, Book Reviews Editor Emma Craddock commissioned and published 23 reviews. Seventeen were reviews of scholarly non-fiction, along with two reviews of memoirs, and four Bedside Books columns. Launched in April 2023, the Bedside Books column presents brief reviews of books of all kinds, chosen by contributors. The Reviews section as a whole drew 18,556 unique website visitors and 24,262 total pageviews during 2023.
3.10 Sociological Fiction
The Sociological Fiction section of our website presents new short stories by emerging and established writers who aim to creatively extend sociological imagination into fiction. Over the course of 2023, Sociological Fiction Editor Ash Watson commissioned and published 12 new pieces of fiction. She works with each contributor to refine their creative composition and shape an accompanying exegesis that draws out the work’s connection with sociological insights. During 2023, the Sociological Fiction section drew 4,735 unique visitors and 7,662 total pageviews.
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3.11 Image-Maker in Residence
The Sociological Review’s monthly showcase of creative work puts visual sociology in the spotlight, with an emphasis on migrant, minority and Global South practitioners and scholars. Monthly residencies include six to eight posts of images and text via The Sociological Review’s Instagram channel, and an artist Q&A and image archive on the Sociological Review Foundation website. In 2023, the series featured ten artists and was curated by George Kalivis. Image-Makers were paid an honorarium of £300. The Image-Maker in Residence pages on the Sociological Review Foundation website drew 3,149 unique visitors and 4,616 pageviews across the year.
3.12 The Sociological Review website
The Sociological Review Foundation website was relaunched in June 2021 and recorded its second full year of user data in 2023. There was a 20% rise in visitors over 2022, with more than 300,000 pageviews during the year. Social media accounted for 15% of referrals, and 51% of traffic to the site originated in either the UK or the US.
3.13 The Sociological Review mailing list
The Sociological Review Foundation’s monthly newsletter subscriber list grew by over 20% in the course of 2023, following a 23% rise in 2022. The average newsletter open rate was 44.5%, a slight increase on 2022. At the end of 2023, the top 5 countries by subscriber (as identified by ISP) were the UK, the Netherlands, India, the United States and Finland. Although the top country by subscriber was the UK, engagement by the smaller cohort of US-based subscribers was markedly greater. In 2023, 52% of all newsletter opens were by recipients at US ISP addresses, against 27% for UK-based ISP addresses.
3.14 The Sociological Review social media
Twitter/X remains the most important of the Sociological Review Foundation’s social media channels, both in terms of followers and as a driver of traffic to the website. Referrals from the site are particularly significant for public sociology content, including Magazine and podcast content.
Facebook: Its geographic reach (stronger in the Global South) and audience (including non-academic followers) makes it a useful complement to Twitter/X, particularly for the Foundation’s public sociology content.
LinkedIn: 2023 saw a marked increase in followers of our company page, which was launched in 2022 to replace an individual account. Engagement is low but building; calls/opportunities and appointments draw the greatest interest, in keeping with the channel’s focus on careers and work. Instagram: Our main account, @thesociologicalreview, presents monthly Image-Maker in Residence content and some organisational news. Followers rose by 16% in 2023. A secondary account, @thesocreviewpodcasts, focuses on podcast content and had 635 followers.
YouTube: Traffic remained stable, with 13,694 views of content in 2023. Of the 36 videos published in 2023, 29 were audio-only podcast episodes. A small number of older recordings remained the channel’s best-performing content by far.
The Bluesky account was launched in October 2023 and gained 535 subscribers by the end of the year. Although overall traffic on the site remains modest, its significant academic community indicates opportunities for growth.
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Threads: The account was opened in July 2023 and gained 808 subscribers by the end of the year. Despite the platform’s high-profile launch, there was only modest engagement and traffic across the platform as a whole, as seen with the Foundation’s account.
| Channel | Followers at 31 Dec 2023 | Growth on 2022 |
|---|---|---|
| Twitter/X | 66,742 | 2.3% |
| 28,295 | 0.8% | |
| LinkedIn companypage | 591 | 648% |
| Instagram(main) | 4,265 | 16% |
| Instagram(podcasts) | 635 | 195% |
| YouTube | 1,240 | 36% |
4. Plans for 2024
We aim to continue our diverse programme of activities, in line with our charitable objects and supported by our Strategic Plan and Business Plan. In particular, we will:
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Provide continued funding for The Sociological Review Fellowship ;
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Organise ECR events including our annual writing retreat ;
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Organise a major international conference in Salford, UK;
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Competitively award funding for seminars as part of our Seminar Series ;
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Continue funding the Connected Sociologies Curriculum project
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Continue funding the Uncommon Sense podcast
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Continue disseminating the findings of sociological research for the public benefit, through our magazine, podcasts, website and social media channels.
5. Financial Review
In April 2023, we secured a continued income stream for our charity by renewing the publishing contract for the Sociological Review Journal between our wholly owned subsidiary trading company, the Sociological Review Publication Limited (SRPL) and SAGE academic publishers. This will result in an annual income of approx. £170,000 that is gift-aided to us by the SRPL.
Securing assets
As of 31 December 2023, the Sociological Review Foundation had unrestricted assets of £799,403, which includes funds the Sociological Review Journal had accumulated prior to the foundation of the charity in 2015. These assets are principally held in two bank accounts at NatWest and Santander, respectively. Trustees are aware that charities are required by law not to accumulate assets on top of those specified in the reserves policy. The Sociological Review Foundation therefore aims to spend down its assets in a controlled manner and in accordance with its charitable objects over the next three years.
Additionally, our charity had a healthy annual income of £210,346 in 2022 (2022: £147,192).
Fundraising
In late 2018, Trustees agreed to explore the possibility of raising funds for the Foundation’s activities, in response to decreasing income from royalties (due to the trend towards Open Access in publishing) and the gradual spend down of our assets. Subsequently, a fundraising strategy, case for support and fundraising plan had been prepared by an external fundraising consultant. The strategy was discussed in detail at several Board meetings and, following the review of our strategic priorities, we asked the same external fundraising consultant in mid-2020 to update the fundraising strategy and fundraising plan and to align it with our revised strategic priorities.
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Our 2024-2029 Strategic Plan lists organisational sustainability as its first strategic objective. In June 2024, we appointed a Deputy CEO to develop and oversee our fundraising and income generation initiatives that we intend implementing in late 2024 and 2025. At all times, the Trustees will adhere to the guidance issued by the Charity Commission: Charity Fundraising: A Guide to Trustee Duties .
Reserves policy
The trustees aim to maintain free reserves in unrestricted funds equal to six months of unrestricted charitable expenditure. In 2023 figures, this equated to approx. £190,000. The Trustees consider that this level provides sufficient funds to fulfil the Charity’s obligations as laid out in the annual business plans, namely to fund the post of a Research Fellow at the University of Keele; pay the salaries of staff members and the invoices of contractors; fund the Sociological Review Seminar Series, Annual Lecture and other events; and disseminate the findings of sociological research for the public benefit through our website and social media channels.
In agreeing the required levels of free reserves in unrestricted funds, the Trustees have purposely disregarded the annual income of the Sociological Review Foundation. This is due to the relative unpredictability of the date on which these funds become available each year. The availability of these funds depends on the income from royalties paid to the Charity’s subsidiary trading company, the Sociological Review Publication Limited (SRPL) by the publisher of the Sociological Review Journal. The Trustees agree that there is a minor risk of these funds not being transferred to SRPL, and via SRPL to the Charity, on time, which would put the Charity at risk of fulfilling its obligations.
The Trustees recognise that the circumstances of the charity or the environment in which it operates change with time. Therefore, the reserves policy will be reviewed periodically. The amount held in reserves will also be monitored during the year as part of the charity’s budgetary processes.
Unrestricted reserves at 31 December 2023 amounted to £799,403 (2022: £900,495).
6. Structure, Governance and Management
The Sociological Review Foundation is a charitable company limited by guarantee incorporated on 16 May 2014 and registered as a charity on 2 June 2015. Its main source of income is profits generated by its wholly owned subsidiary trading company, the Sociological Review Publication Limited, which owns the Sociological Review Journal (published by SAGE Publishing). Profits from royalties are giftaided to the Sociological Review Foundation.
The affairs of the charity are managed by a governing body of Trustees. Trustees are appointed at General Meetings. Members of the Sociological Review Foundation consist of:
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Current Trustees (9 trustees as of August 2024)
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Former Trustees and Members of the Sociological Review Editorial Board as long as they sign the membership application form and attend the AGM. Membership is for one year and needs to be renewed at each AGM otherwise it expires automatically
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19 members in total as of August 2024 (excluding Trustees)
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Organogram of the Sociological Review Foundation and its trading subsidiary, the SRPL
2023 Governance Review
In line with Charity Commission guidance for charities with a connection to a non-charity, and additional legal advice, the Sociological Review Foundation undertook a comprehensive review of its governance structure in 2023 to understand the legal and regulatory framework for how it should interact with and have oversight over its wholly-owned subsidiary, the SRPL. The outcome of the governance review was approved by the Board of Trustees in November 2023 and came fully into effect in March 2024, when key documents were adopted by the SRPL Directors.
The cornerstones of the governance review are:
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The revised Articles of Association of the Sociological Review Publication Limited that give the Foundation a sole power to appoint and remove SRPL directors; expressly mention that the Foundation is the sole member of SRPL; specify that up to two Foundation trustees should sit on the SRPL Board of Directors to achieve appropriate oversight; include clearer provisions on member decision making; and include conflict of interest provisions to address the cross-over between the Foundation and SRPL boards.
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A Framework Agreement that sets out how the Foundation works and shares resources with the SRPL, including compliance with Foundation policies and procedures; the make-up of the SRPL Board of Directors; reporting requirements; and provisions on data sharing.
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A Scheme of Delegation that details the SRPL matters that require approval by the Foundation, including long-term objectives and strategy; budgets, annual returns, the negotiation of publishing agreements; and the remuneration of SRPL directors.
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Procedure for the appointment of new trustees
Article 29: The minimum number of Trustees is 5 and the maximum number of Trustees is 12.
Articles 35-41 of the Articles of Association (entitled Appointment of Trustees) state:
-
Trustees may appoint a person who is willing to be a Trustee. A Trustee appointed in this way must retire at the next annual general meeting
-
The charity may by ordinary resolution appoint a person who is willing to act to be a Trustee
-
No person other than a Trustee retiring by rotation or a UK Appointee may be appointed a Trustee at any general meeting unless he or she is recommended for re-election by the Trustees or proposed by a Member 14-35 days before the AGM
-
Keele University is entitled at all times to appoint one Trustee
-
All members who are entitled to receive notice of a general meeting must be given 7-28 days' notice of any resolution to be put to the meeting to appoint a Trustee
Procedures for induction and training of trustees
The Sociological Review Foundation recognises that an effective Board of Trustees is essential for the charity to achieve its objects. The Board must have available to it the knowledge and skills required to run the charity and to meet the deadlines and regulations set by HMRC, Companies House and the Charity Commission. Individual trustees must have sufficient knowledge, both of trusteeship in general and of the Charity's activities, to enable them to carry out their role.
The Chair of Trustees and the Operations Director ensure that newly appointed Trustees are provided with key documents within one week of their appointment, including:
-
The Articles of Association • Reserves Policy
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• The Essential Trustee (CC3) • Strategic Plan and the Business Plan • Conflicts of Interest Policy • Expense Claims Policy • Data Protection Policy • Complaints Policy and Procedure • Risk Policy • Equality, Diversity and Inclusion Policy • Social Media & Crisis Communication Policy
The Chair of Trustees and the Operations Director from time to time organise a training session on the general duties and responsibilities of charity Trustees.
Organisation and frequency of meetings
Trustees meet formally three to five times per year. The November meeting takes place after the AGM and includes the election of the Chair. All meetings are serviced and minuted by the Operations Director. In between formal Board meetings, Trustees communicate regularly via email, facilitated by the Operations Director who observes deadlines and coordinates any important tasks in liaison with the Chair of Trustees and the Chief Executive.
Risk management
The Sociological Review Foundation has a formal risk policy in place that describes the main principles and procedures for identifying, assessing, managing and monitoring risks. The risk policy helps Trustees to identify major risks and decide how to respond to them. Trustees review the policy regularly, (re-) assess the risks faced by the Charity and plan for the management of those risks. The policy was last updated in November 2023.
Some Board members have not served as Trustees elsewhere previously. A risk arising from this fact is that Trustees may lack the skills required to steer the charity and to observe the deadlines and regulations set by HMRC, Companies House and the Charity Commission. Recognising these risks, Trustees have put measures in place to mitigate them.
12
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 / cont
An induction policy for new trustees was developed, and a conflict-of-interest policy, risk policy, reserves policy, social media policy, equality and diversity policy, and complaints policy are in place to guide the activities of Trustees. We regularly consult our accountant and in 2018 took legal advice on employment matters to ensure that we act in line with relevant legislations and regulations. Our fiveyear strategic plan and annual business plan ensure that our long- and short-term objectives are met.
The income of the Foundation comes from the business activities of its wholly owned subsidiary trading company, the Sociological Review Publication Limited, which owns the Sociological Review Journal. SRPL’s profit from royalties (ca. £160,000 per year) is gift-aided to the Foundation. Trustees recognise that a decrease in SRPL’s profits (whether due to mismanagement or changes to academic publishing) would have a serious impact on the charitable activities of the Sociological Review Foundation. To mitigate this risk, the editor of the Sociological Review Journal is required to regularly report to the Trustees. The development of the fundraising strategy (see above) also serves the purpose of mitigating financial risks.
Equality and diversity
In line with its commitment to ensuring equality of opportunity or treatment, the Sociological Review Foundation agreed an Equality, Diversity & Inclusion Policy in 2018, which details the appropriate measures to monitor and evaluate how it is meeting its commitment in relation to all activities, including events and the award of conference, travel and accommodation bursaries. We collect information related to equality & diversity on a voluntary basis, in line with our Privacy Notice and Data Protection Policy. Any data collected is strictly confidential, anonymised and analysed in-house.
We published our first ever report on equality, diversity and inclusion in 2020. The report contained a number of recommendations with regards to equality, diversity and inclusion in three key areas of our activities: events (delegates, speakers, bursaries), employment (contracts and recruitment) and The Sociological Review Journal (editorial board composition, authors and reviewers). Most of these recommendations were implemented during 2020 and 2021.
2023 saw the implementation of an MEL framework (monitoring, evaluating and learning) that enables the Foundation to systematically gather and evaluate data and feedback from participants in its events and initiatives, in line with the Foundation’s Privacy Notice.
The Trustees confirm that they have had regard to public benefit guidance issued by the Charity Commission in considering the activities of, and future plans for, the charity.
7. Administrative Information
Trustees as of 1 September 2024 Senior Management Rosemary Deem (Chair) Michaela Benson (CEO) Beverley Skeggs Maria Bellocci (Deputy CEO) Mark Featherstone Attila Szanto (Operations Director) Tom Dark Kat Jungnickel Registered address Chantelle Lewis Bowland College Karen O’Reilly Lancaster University Steven Brown Lancaster LA1 4YT Karim Murji (appointed 1 March 2024)
Auditors Bankers Myrus Smith NatWest, 34 Henrietta Street, London WC2E 8NL (current account) Norman House Santander, 100 Ludgate Hill, London EC4M 7RE (time deposit account) 8 Burnell Road Sutton, SM1 4BW
13
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 / cont
8. Trustees' responsibilities statement
The trustees (who are also directors of Sociological Review Foundation Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company’s auditor is unaware and
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- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
Auditors
A resolution to appoint as Auditors Messrs. Kingston Burrowes, 450a London Road, Cheam SM3 8JB in succession to Myrus Smith, will be put to the Members at the Annual General Meeting.
Exemption Statement
The Trustees’ Report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.
On Behalf of the Trustees
................................................. Rosemary Deem, Trustee Date: 18 September 2024
14
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE: SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital Registered Charity No: 1161961
Opinion
We have audited the financial statements of Sociological Review Foundation Limited (the ‘charitable company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet 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:
-
give a true and fair view of the state of the charitable company’s affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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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 (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 trustees are responsible for the 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are
15
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE: SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital Registered Charity No: 1161961
/..Cont’d
required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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• the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the 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 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
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
16
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE: SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital Registered Charity No: 1161961
/..Cont’d
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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
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Enquiry of management and those charged with governance about actual and potential litigation or claims and the identification of non-compliance with laws and regulations.
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Reviewing minutes of meetings of those charged with governance.
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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Auditing the risk of management override of controls, including testing journal entries and other adjustments for appropriateness.
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Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
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Professional scepticism in course of the audit and with audit sampling in material audit areas.
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 non-compliance. 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. 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. Our audit work has been undertaken so that we might state to the charitable company’s members 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
Kevin Fisher BA FCA CTA (Senior Statutory Auditor) For and on behalf of Myrus Smith Chartered Accountants and Statutory Auditors Norman House, 8 Burnell Road, Sutton, Surrey. SM1 4BW
2024
17
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
STATEMENT OF FINANCIAL ACTIVITIES (Including income and expenditure account)
FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME: Donations and legacies Other income Bank deposit interest Total income EXPENDITURE: Raising funds Charitable activities Total expenditure Net (Expenditure) and net movement in funds Total funds brought forward Total funds carried forward |
Notes 3 4 5 6 ─ ═ |
2023 £ 205,360 3,050 1,936 ───── 210,346 ───── - 311,438 ───── 311,438 ───── (101,092) 900,495 ───── ─ £799,403 ═════ ═ |
2022 £ 145,404 497 1,291 ───── 147,192 ───── 2,400 274,625 ───── 277,025 ───── (129,833) 1,030,328 ───── £900,495 ═════ |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
All the above relate to unrestricted funds.
The notes on pages 20 to 24 form part of these Financial Statements
18
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
BALANCE SHEET AS AT 31 DECEMBER 2023
| Fixed assets Computer equipment Investments Current assets Debtors Cash at Bank Liabilities Creditors: Amounts falling due within one year Net current assets Net assets The funds of the charity Unrestricted income funds |
Notes 2023 2022 £ £ 9 471 1,568 10 25,000 25,000 ──── ──── 25,471 26,568 ──── ──── 11 143,976 136,049 637,910 758,847 ────── ────── 781,886 894,896 12 7,954 20,969 ───── ───── 773,932 873,927 ───── ───── £799,403 £900,495 ═════ ═════ £799,403 £900,495 ═════ ══════ |
|---|---|
These Financial Statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Board of Directors on 18 September 2024 and signed on its behalf by:
................................................. Rosemary Deem Director
The notes on pages 20 to 24 form part of these Financial Statements
19
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial states are as follows:
a) Basis of Preparation
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) issued in October 2019, 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 Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented 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.
b) Income recognition policies
Items of income are recognised and included in the accounts when all of the following criteria are met:
-
The charity or its subsidiary have entitlement to the funds;
-
Any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity or its subsidiary.
-
There is sufficient certainty that receipt of the income is considered probable; and
-
The amount can be measured reliably.
c) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity, which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are those funds which can only be used in accordance with the wishes of the donor or which have been raised for a particular purpose.
d) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure on charitable activities includes the costs of research fellowships, conferences, seminars, symposia and other educational activities undertaken to further the purpose of the charity and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
20
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
/contd
e. Allocation of support costs
Support costs (including governance) are those functions that assist the work of the charity but do not directly undertake charitable activities. These costs have been allocated to expenditure on charitable activities.
f. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
g. Pension costs
The charity operates a defined contribution pension scheme. Employer’s contributions payable for the year are charged to the Statement of Financial Activities.
2. Legal status of the charity
The charity is a company limited by guarantee (Company No: 09044774) and has no share capital. The liability in respect of the guarantee is limited to £10 per member.
The company is registered charity No: 1161961 and thus has no liability for Income Tax, Capital Gains Tax or Corporation Tax on its charitable activities.
3. Donations and Legacies
| Donation – Sociological Review Publication Limited (Note 15) ═ |
2023 £ £205,360 ═════ ═ |
2022 £ £145,404 ═════ |
|---|---|---|
All of the £205,360 (2022: £145,404) recognised in the year related to unrestricted funds.
4. Other Income
| Merchandise sales and event income | £3,050 | £497 |
|---|---|---|
| ═══ | ════ |
All of the £3,050 (2022: £497) recognised in the year related to unrestricted funds.
5. Cost of raising Funds
Fundraising consultancy £Nil £2,400 ════ ════
All of the £Nil (2022: £2,400) expended in the year related to unrestricted funds.
21
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
/contd…
| 6. | Charitable activities | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Direct costs | |||
| SR Fellowships | 42,639 | 65,817 | |
| Digital Engagement Fellowship | - | 11,595 | |
| Conference, Symposium and seminar costs | 36,951 | 30,316 | |
| Project costs | 91,123 | 54,067 | |
| Grants and conference support | - | (500) | |
| Website, Digital strategy & Communication | 84,801 | 78,159 | |
| Magazine | 26,527 | 22,084 | |
| Merchandising | 1,730 | 1,965 | |
| ───── | ───── | ||
| 283,771 | 263,503 | ||
| Support Costs | |||
| Legal & professional | 17,390 | 5,371 | |
| Team meeting and venue hire costs | 1,574 | - | |
| Office costs | 129 | 456 | |
| Insurance | 576 | 621 | |
| Bank charges | 517 | 481 | |
| Depreciation | 1,097 | 1,637 | |
| Governance: | |||
| - Audit fee | 2,640 | 2,556 | |
| - Trustee travel expenses | 1,244 | - | |
| - Annual report | 2,500 | - | |
| ───── | ───── | ||
| £311,438 | £274,625 | ||
| ═════ | ═════ |
All of the £311,438 (2022: £274,625) expended in the year relates to unrestricted funds.
| 7. | Net income for the year | 2023 | 2022 |
|---|---|---|---|
| This is stated after charging: | |||
| Auditors Fees - Audit services | £2,640 | £2,556 | |
| - Non-audit services | £Nil | £Nil | |
| ════ | ════ | ||
| 8. | Staff costs | 2023 | 2022 |
| £ | £ | ||
| Wages and salaries | 127,428 | 98,030 | |
| Social security costs | 5,288 | 4,046 | |
| Pension costs | 2,697 | 2,193 | |
| ───── | ───── | ||
| £135,413 | £104,269 | ||
| ═════ | ═════ |
No employee received emoluments of more than £60,000 during 2023 or 2022.
The average monthly number of full-time equivalent employees during the year was 5 (2022: 4). Total employment benefits received by key management amounted to £Nil (2022: £Nil).
22
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
NOTES TO THE ACCOUNTS /contd…
FOR THE YEAR ENDED 31 DECEMBER 2023
9. Tangible Fixed Assets
| Computer and Office Equipment | |
|---|---|
| £ | |
| Cost | |
| Balance at 1 January 2023 | 4,911 |
| Additions | - |
| ──── | |
| Balance at 31 December 2023 | 4,911 |
| ──── | |
| Depreciation | |
| Balance at 1 January 2023 | 3,343 |
| Change for year | 1,097 |
| ──── | |
| Balance at 31 December 2023 | 4,440 |
| ──── | |
| Net Book Value | |
| As at 31 December 2023 | £471 |
| ════ | |
| As at 31 December 2022 | £1,568 |
| ════ |
10. Investment in trading subsidiary
The investment in the trading subsidiary represents a 100% holding, at cost, in Sociological Review Publication Limited, a company incorporated in England and Wales.
| 11. | Debtors | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Prepayments | 16,688 | 442 | |
| Charitable payment due from subsidiary | 127,288 | 135,607 | |
| ───── | ───── | ||
| £143,976 | £136,049 | ||
| ═════ | ═════ | ||
| 12. | Creditors: Amounts falling due within one year | 2023 | 2022 |
| £ | £ | ||
| Other creditors | 1,763 | 970 | |
| Accruals | 6,191 | 19,999 | |
| ──── | ──── | ||
| £7,954 | £20,969 | ||
| ════ | ════ |
23
SOCIOLOGICAL REVIEW FOUNDATION LIMITED
A company limited by guarantee and not having a share capital
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 /contd…
13. Trustees’ remuneration and expenses
No Trustees received any remuneration during the year or the previous year. Travelling expenses reimbursed to 6 (2022: Nil) Trustees totalled £1,244 (2022: £Nil).
14. Future financial commitments
At 31 December 2023 the charity had agreed to provide sponsorship and fellowships as follows:
| Current commitments entered into by the Trustees Research fellowships ═ |
2023 £ £44,180 ════ ═ |
2022 £ £87,819 ════ |
|---|---|---|
15. Related Party Transactions
The charity has a wholly owned trading subsidiary, which is incorporated in the UK: the Sociological Review Publications Limited, which produces the Sociological Review Journal and Monographs and transfers all of its taxable profits to the charity under a Deed of Covenant. A summary of their trading results is shown below:
| Turnover Interest received Less:Overheads ─ Net Profit Charitable covenant payment ─ Less:Taxation ─ (Loss) / profit for year Retained in Subsidiary b/f ─ Retained in Subsidiary c/f ═ Net Assets at 31 December 2023 ═ |
2023 £ 295,410 10,042 (100,092) ──── ─ 205,360 205,360 ──── ─ - - ──── ─ - - ──── ─ £Nil ════ ═ £25,000 ════ ═ |
2022 £ 252,006 2,455 (109,057) ──── 145,404 145,404 ──── - - ──── - - ──── £Nil ════ £25,000 ════ |
|---|---|---|
24