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2023-12-31-accounts

Charity registration number: 1163773

UACES

Annual Report and Financial Statements for the Year Ended 31 December 2023

UACES

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 7
Statement of Trustees' Responsibilities 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 22

UACES

Reference and Administrative Details

Trustees

Prof S Usherwood, Chair Dr K Slootmaeckers Dr R M Fernandez Martin Dr G Benedetto Dr S Ladi Dr V Gravey

Charity Registration Number

1163773

Principal Office

Idea Space 83 Lavender Hill London SW11 5QL

Independent Examiner

M Winkelmann FCA Chartered Accountant Henry and Banwell 26 Berkeley Square Bristol BS8 1HP

Page 1

UACES

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.

1. Duty to prepare Annual Reports and Accounts

The Officers recognise that they are jointly responsible for the preparation of the Annual Report and Accounts. The Charities Act 1993 requires UACES Officers to prepare accounts for each financial year which give a true and fair view of its financial activities during the year and of its financial position at the end of the year. Specifically, this requires the Officers to:

• select suitable accounting policies and apply them consistently

• follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures for the accounts, and

• to prepare the accounts on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation.

UACES Officers are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the Charity at any time, and to enable them to ensure that the accounts comply with charity law. UACES Officers are also responsible for safeguarding the Charity’s assets and ensuring their proper application in accordance with charity law, and hence for taking reasonable steps for the prevention and detection of error, fraud and other foreseeable irregularities.

2. Structure, Governance and Management

The Committee comprises four elected Officers (Chair, Secretary, Treasurer and Equality, Diversity and Inclusion [EDI] Officer), six elected Committee members and includes a number of co-opted and ex-officio members. Any individual member of the Association is eligible to nominate themselves or to be nominated, and elections are conducted by electronic ballot. Terms of elected office, which start on 1 September each year, are three years. The Committee is further divided into working groups; the Events working group, the Engagement working group, the Equality, Diversity and Inclusion working group, and the Teaching and Learning working group. Decisions on policy are made by Committee and implementation of these decisions and day-to-day management of the association is undertaken by the staff.

Officers are encouraged to serve on the Committee prior to standing for an officer post, to ease their induction into taking up an officer post for the Association. Officers are normally long-standing, active members and so are familiar with the work of the Association before taking up their duties as Officers. The outgoing Officer briefs the incoming Officer extensively and there is a period of shadowing up to the handover. Job descriptions are available for all Committee positions. All elected members of the Committee who are based in the UK are Trustees of the charity.

3. Objectives and Activities

The object of the charity as laid out in the Constitution is as follows:

• To maintain and foster links between UK universities and institutions and those in other countries as well as with such bodies as may be thought fit.

• To provide such help as may prove possible towards the promotion of contemporary European Studies.

• To encourage the dissemination of research findings and to foster debate in contemporary European Studies by all appropriate means including the publication and circulation of papers and through the JCMS, Journal of Common Market Studies.

Page 2

Trustees' Report (continued)

4. Achievements and Performance

The following themes within the objects have been identified:

a) the participation of postgraduate students and early-career scholars in the activities of the Association

Monnet Support for Associations to support our activities.

We organised:

We continued to operate the Euroresearch mailing list for postgraduate students.

The Crossroads Europe blog continued to support the publication of research from our Graduate Forum

members at https://crossroads.ideasoneurope.eu/.

We launched new Instagram and Telegram accounts.

We continued to support the Graduate Forum Committee.

b) The research events and the research conference

iii. Trade Implementation and Enforcement Research Network (TIER). 

  - 3) UACES implemented changes to the funding requirements for Research Networks to improve their legacy and responsiveness.

Page 3

Trustees' Report (continued)

The main means of communication is the UACES Newsletter supplemented by announcements on the email list, social media and the UACES website.

As of 19 December 2023, membership of UACES was 873, a 14% decrease from 1018 the previous year. The membership comprises 458 Individual, 128 Early Career, 196 PhD Researcher, 19 Student, 14 Affiliate and 58 Group members, with 63% of members based outside the UK.

The UACES Office continued to raise the online profile of the Association via the website and social media.

A Social Media Assistant was recruited to increase the readership and impact of JCMS: Journal of Common Market Studies and Contemporary European Politics (CEP).

UACES awarded four prizes in recognition of achievement in the field of European Studies: Best PhD Thesis , Best Book , the JCER Prize and a Lifetime Achievement Award .

Page 4

Trustees' Report (continued)

5. Financial Review

a) The financial position

UACES has a full business plan for the Association that reflects the aims, objectives and current priorities.

b) Funding Sources

.

c) Grant-making

There are three main streams of funding available from UACES (see www.uaces.org/funding)

d) Related party transactions

No transactions are made between the Charity and its Trustees or anyone else connected to its Trustees.

Trustees are paid expenses only by direct reimbursement.

e) Reserves

UACES’s reserves are currently in a healthy position, following a setback in 2015 after the payment of a large pension deficit. We are aware that future years may be more difficult, not least because of the move within academic publishing towards open access research. UACES continues to build its reserves in the expectation that income from membership, EU grants and journal subscriptions are liable to reduce dramatically over the next 5-10 years.

f) Investment policy

An Investment Portfolio was established in 2010, the management of which was done with the advice of an Independent Financial Adviser. In October 2015, half of the investment portfolio was sold. In June 2016 the decision was taken to close the Investment Portfolio entirely. The decision was taken on the advice of our Independent Financial Adviser and it was done with the aim of improving cash flow. UACES realised a small gain from the sale of £3,972.

Page 5

Trustees' Report (continued)

g) Financial risks

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity. To note in this report:

i. The recent changes to the Jean Monnet Programme of the European Union

Over the last twenty years, UACES has been the recipient of numerous grants from the Jean Monnet programme of the European Union. In 2021 the grant programme changed and no longer includes the Jean Monnet Projects or Support to Association funding streams that have been used by UACES in the past. If the funding streams offered by the Jean Monnet programme continues in this way, there will be no further streams to which UACES can apply. This could have an impact on the activities we run for Graduate students and Early-career researchers, many of which have been previously funded by the Jean Monnet programme.

ii. The shift to Open Access publishing

Academic publishing is in the process of changing from the current reader-pays model to an author-pays model. UACES has been working with Wiley, our publishers and co-owners of the JCMS Journal of Common Market Studies to prepare for this change and launched a Gold Open Access journal in 2023. At this stage it is difficult to assess the full impact on UACES, the staff and Trustees continue to monitor these changes closely.

iii. Membership of UACES

Whilst membership of UACES had been stabilising, 2023 saw a small drop in membership numbers. Staff and trustees are monitoring the situation and considering ways to boost membership numbers going forwards. UACES's raison d'etre is its members so it is very important that we explore all methods for growth in this area.

Page 6

Trustees' Report (continued)

6. Plans for the Future

Contemporary European Politics.

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by: 24-Sep-2024

......................................... Dr R M Fernandez Martin Treasurer

~~.............................~~ V. Gravey (Sep 24, 2024 15:55 GMT+1) ............ Dr V Gravey Secretary

Page 7

UACES

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on .................... and signed on its behalf by: 24-Sep-2024

Rosa Maria Fernan

.........................................

Dr R M Fernandez Martin Trustee

......................................... Viviane Gravey Dr V Gravey Trustee

Page 8

UACES

Independent Examiner's Report to the trustees of UACES

I report to the trustees on my examination of the accounts of UACES for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of UACES you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the UACES's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since UACES's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of UACES as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... M Winkelmann FCA Chartered Accountant ICAEW

Henry and Banwell 26 Berkeley Square Bristol BS8 1HP

Date:.............................

Page 9

UACES

Statement of Financial Activities for the Year Ended 31 December 2023

Note Unrestricted
funds
Restricted funds
Total
2023
£
£
£
Income and Endowments from:
Donations and legacies 350
56,133
56,483
Charitable activities 113,118
-
113,118
Other trading activities 231,683
-
231,683
Investment income
4		 4,186
-
4,186
Total income 349,337
56,133
405,470
Expenditure on:
Charitable activities (284,501)
(56,133)
(340,634)
Total expenditure (284,501)
(56,133)
(340,634)
Net income 64,836
-
64,836
Net movement in funds 64,836
-
64,836
Reconciliation of funds
Total funds brought forward 468,098
-
468,098
Total funds carried forward
16		 532,934
-
532,934
Note Unrestricted
funds
Restricted funds
Total
2022
£
£
£
Income and Endowments from:
Donations and legacies 159
46,105
46,264
Charitable activities 79,752
-
79,752
Other trading activities 225,774
-
225,774
Investment income
4		 2,441
-
2,441
Total income 308,126
46,105
354,231
Expenditure on:
Charitable activities (273,409)
(46,105)
(319,514)
Total expenditure (273,409)
(46,105)
(319,514)
Net income 34,717
-
34,717
Net movement in funds 34,717
-
34,717
Reconciliation of funds
Total funds brought forward 433,381
-
433,381
Total funds carried forward
16		 468,098
-
468,098

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 16.

The notes on pages 12 to 22 form an integral part of these financial statements. Page 10

UACES

(Registration number: 1163773) Balance Sheet as at 31 December 2023

Note 2023
2022
£
£
Fixed assets
Tangible assets
12		 8,016
9,199
Current assets
Debtors
13		 259,261
235,429
Cash at bank and in hand
14		 339,045
325,708
598,306
561,137
Creditors: Amounts falling due within oneyear
15		 (73,388)
(102,238)
Net currentassets 524,918
458,899
Netassets 532,934
468,098
Funds of the charity:
Unrestricted income funds
Unrestricted funds 532,934
468,098
Total funds
16		 532,934
468,098

The financial statements on pages 10 to 22 were approved by the trustees and authorised for issue on .................... and signed on their behalf by: 24-Sep-2024

......................................... Prof S Usherwood Chair

The notes on pages 12 to 22 form an integral part of these financial statements. Page 11

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

UACES meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Page 12

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 13

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 Income from donations and legacies

2
Income from donations and legacies		 2
Income from donations and legacies
Unrestricted
funds
Restricted
Total
General
£
funds
£
funds
£
Donations and legacies;
Donations from companies, trusts and similar proceeds
350
-
350
Grants, including capital grants;
Governmentgrants -
56,133
56,133
Total for 2023 350
56,133
56,483
Total for 2022 159
46,105
46,264

Page 14

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

3 Income from charitable activities

3
Income from charitable activities
Unrestricted
funds
Restricted
Total
General
funds
funds
£
£
£
Donations and Grants 350
56,133
56,483
Conference and Events 80,509
-
80,509
Membership subscriptions 32,609
-
32,609
Journal publication 231,683
-
231,683
Investment income 4,186
-
4,186
Total for 2023 349,337
56,133
405,470
Total for 2022 308,126
46,105
354,231
4
Investment income
Unrestricted
funds
Total
General
£
funds
£
Interest receivable and similar income;
Interest receivable on bank deposits 4,186
4,186
Total for 2023 4,186
4,186
Total for 2022 2,441
2,441
5
Expenditure on charitable activities
Unrestricted
funds
Restricted
Total
General
funds
funds
£
£
£
Conferences and Events 77,983
-
77,983
Student Support 22,143
-
22,143
Membership and administration 158,888
56,133
215,021
Journalpublication 25,487
-
25,487
Total for 2023 284,501
56,133
340,634
Total for 2022 273,409
46,105
319,514

Page 15

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

UACES

6 Analysis of governance and support costs

Unrestricted
funds
Total
General
funds
£
£
Independent examiner fees;
Examination of the financial statements 2,712
2,712
Total for 2023 2,712
2,712
Total for 2022 3,951
3,951

Page 16

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

7 Government grants

Four sources of grants were accessed in the year. From the Erasmus+ programme of the European Union funds were received under the Jean Monnet Project and Jean Monnet Network sections of Erasmus.

The amount of grants recognised in the financial statements was £56,133 (2022 - £45,684).

8 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Prof S Usherwood

£360 (2022: £Nil) of expenses were reimbursed to Prof S Usherwood during the year.

Travel expenses

Dr R M Fernandez Martin

£1,035 (2022: £196) of expenses were reimbursed to Dr R M Fernandez Martin during the year.

Travel expenses Dr V Gravey

£465 (2022: £Nil) of expenses were reimbursed to Dr V Gravey during the year.

Travel expenses

Dr K Slootmaeckers

£110 (2022: £Nil) of expenses were reimbursed to Dr K Slootmaeckers during the year.

Travel expenses

Dr G Benedetto

£42 (2022: £Nil) of expenses were reimbursed to Dr G Benedetto during the year.

Travel expenses Prof R Guerrina

£Nil (2022: £540) of expenses were reimbursed to Prof R Guerrina during the year.

Travel expenses Dr J Mawdsley

£Nil (2022: £444) of expenses were reimbursed to Dr J Mawdsley during the year.

Travel expenses Dr K Simpson

£Nil (2022: £479) of expenses were reimbursed to Dr K Simpson during the year.

Travel expenses

Page 17

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

Page 18

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

9 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
2023
2022
£
£
Staff costs during the year were:
Wages and salaries 139,867
108,916

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full-time equivalents was as follows:

charity during the year expressed as full-time equivalents was as follows:
2023
2022
No
No
Administration 1
1
Charitable Activities 3
2
4
3

Contributions to the employee pension schemes for the year totalled £11,882 (2022 - £9,275).

No employee received emoluments of more than £60,000 during the year

No employee received emoluments of more than £60,000 during the year
10
Independent examiner's remuneration
2023
2022
£
£
Examination of the financial statements 2,712
2,292

Page 19

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

12
Tangible fixed assets
Computer
equipment
£
Total
£
Cost
At 1 January 2023 59,880
59,880
Additions 5,728
5,728
At 31 December 2023 65,608
65,608
Depreciation
At 1 January 2023 50,681
50,681
Charge for theyear 6,911
6,911
At 31 December 2023 57,592
57,592
Net book value
At 31 December 2023 8,016
8,016
At 31 December 2022 9,199
9,199
13
Debtors
2023
2022
£
£
Trade debtors 4,114
2,212
Prepayments 5,643
2,737
Other debtors 249,504
230,480
259,261
235,429
14
Cash and cash equivalents
2023
2022
£
£
Cash on hand 213
1,235
Cash at bank 338,832
324,473
339,045
325,708

Page 20

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

15 Creditors: amounts falling due within one year

2023
£
2022
£
Trade creditors 6,632
1,622
Other creditors 64,236
92,327
Accruals 2,520
8,289
73,388
102,238
16
Funds
Balance at 1
Incoming
Resources
Balance at 31
January 2023

resources
expended
December 2023

£
£

£
£
Unrestricted funds
General
Unrestricted General Fund 468,098
349,337
(284,501)
532,934
Restricted funds
European Commission -
56,133
(56,133)
-
Total funds 468,098
405,470
(340,634)
532,934
Balance at 1
Incoming
Resources
Balance at 31
January 2022

resources
expended
December 2022
£
£
£
£
Unrestricted funds
General
Unrestricted General Fund 433,381
308,126
(273,409)
468,098
Restricted
European Commission -
46,105
(46,105)
-
Total funds 433,381
354,231
(319,514)
468,098

The specific purposes for which the funds are to be applied are as follows:

Grants were received for the Jean Monnet Project and Network in the year from the European Commission and from the James Madison Charitable Trust.

Page 21

UACES

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

17
Analysis of net funds
At 1 January
At 31 December

2023
2023
£
£
Cash at bank and in hand 325,708
325,708
Net debt 325,708
325,708
At 1 January
At 31 December

2022
2022
£
£
Cash at bank and in hand 327,234
327,234
Net debt 327,234
327,234

Page 22

UACES

Statement of Financial Activities by fund for the Year Ended 31 December 2023

Total
Total
Unrestricted
Unrestricted
Funds
Funds
2023
2022
£
£
Income and Endowments from:
Donations and legacies 350
159
Charitable activities 113,118
79,752
Other trading activities 231,683
225,774
Investment income 4,186
2,441
Total income 349,337
308,126
Expenditure on:
Charitable activities (284,501)
(273,409)
Total expenditure (284,501)
(273,409)
Net income 64,836
34,717
Net movement in funds 64,836
34,717
Reconciliation of funds
Total funds brought forward 468,098
433,381
Total funds carried forward 532,934
468,098

This page does not form part of the statutory financial statements. Page 23

UACES

Statement of Financial Activities by fund for the Year Ended 31 December 2023 (continued)

Total
Total
Restricted
Restricted
Funds
Funds
2023
2022
£
£
Income and Endowments from:
Donations and legacies 56,133
46,105
Total income 56,133
46,105
Expenditure on:
Charitable activities (56,133)
(46,105)
Total expenditure (56,133)
(46,105)
Net income/(expenditure) -
-
Reconciliation of funds
Total funds carried forward -
-

This page does not form part of the statutory financial statements. Page 24

2024-09-24

UACES accounts 2023 T Rpt v3

Final Audit Report

Created: 2024-09-17 By: UACES UACES (admin@uaces.org) Status: Signed Transaction ID: CBJCHBCAABAA1F15J_NpM3Rq7TbbqFA6YKvkrhMecnH5

"UACES accounts 2023 T Rpt v3" History

Document created by UACES UACES (admin@uaces.org) 2024-09-17 - 1:40:00 PM GMT

Document emailed to R. Fernandez Martin (r.fernandez.martin@keele.ac.uk) for signature 2024-09-17 - 1:40:06 PM GMT

Document emailed to V. Gravey (v.gravey@qub.ac.uk) for signature 2024-09-17 - 1:40:06 PM GMT

Document emailed to S. Usherwood (simon.usherwood@open.ac.uk) for signature 2024-09-17 - 1:40:06 PM GMT

Email viewed by R. Fernandez Martin (r.fernandez.martin@keele.ac.uk) 2024-09-17 - 1:40:35 PM GMT

Email viewed by S. Usherwood (simon.usherwood@open.ac.uk) 2024-09-17 - 1:41:27 PM GMT

Document e-signed by S. Usherwood (simon.usherwood@open.ac.uk) Signature Date: 2024-09-17 - 1:43:55 PM GMT - Time Source: server

Document e-signed by R. Fernandez Martin (r.fernandez.martin@keele.ac.uk) Signature Date: 2024-09-24 - 11:50:04 AM GMT - Time Source: server

Email viewed by V. Gravey (v.gravey@qub.ac.uk) 2024-09-24 - 2:54:35 PM GMT

New document URL requested by V. Gravey (v.gravey@qub.ac.uk) 2024-09-24 - 2:54:39 PM GMT

Document e-signed by V. Gravey (v.gravey@qub.ac.uk) Signature Date: 2024-09-24 - 2:55:57 PM GMT - Time Source: server

Agreement completed. 2024-09-24- 2."55."57 PM GMT . Adobe Acrobat Sign