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2024-12-31-accounts

Charity registration number: 1163773

UACES

Annual Report and Financial Statements for the Year Ended 31 December 2024

UACES

Contents (continued)

Reference and Administrative Details 2
Trustees' Report 3 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 20
Statement of Financial Activities by fund 21 to 22

1

UACES

Reference and Administrative Details

Trustees

Prof A Haastrup, Chair Dr R M Fernandez Martin, Treasurer Dr V Gravey, Secretary Dr K Slootmaeckers Dr G Benedetto Dr S Ladi

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

2

UACES

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.

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 2022 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:

• 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 Finance and Treasury 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 advance education for the public benefit through the promotion of teaching and research in contemporary European Studies, and in furtherance of this objective but not otherwise.

• 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 and Contemporary European Politics.

3

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

the British International Studies Association (BISA)

the Political Studies Association (PSA)

4

the Council of European Studies (CES-USA)

the European Consortium for Political Research (ECPR)

the European Union Studies Association (EUSA-USA)

the International Studies Association (ISA)

and various Jean Monnet Centres of Excellence

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

As of 31 December 2024, membership of UACES was 943. The membership comprises 377 Individual, 104 Early Career, 160 PhD Researcher, 24 Student, 52 Affiliate and 226 individuals who avail of group membership of which we have 33 institutions. 65% of members based outside the UK.

The UACES Office continued to raise the online profile of the Association via the website and social media throughout the reporting period. The Association’s digital presence continues to strengthen our position as a leading voice in European studies, supporting both member engagement and broader academic outreach.

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

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

1) UACES was the recipient of a grant from the James Madison Charitable Trust which provided funding for various UACES activities starting in the 2019-2020 financial year. Due to the Covid-19 pandemic this funding was extended to cover some activities up to and including 2024.

2) Income from the profit of JCMS: Journal of Common Market Studies together with the revenue from membership subscriptions and the annual conference, is used to cover all UACES activities.

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. 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.

5

The Trustees agreed to use some reserves to invest in a new membership CRM system. This strategic investment is designed to improve membership recruitment and retention capabilities, enhance member services, and provide better data management tools to support the organisation's long-term sustainability.

f) Investment policy

An Investment Portfolio was established in 2010 under the guidance an Independent Financial Adviser. In June 2016, on advice from our Independent Financial Adviser, the decision was made to close the Investment Portfolio entirely to improve cash flow.

Current Investment Approach

UACES currently maintains four savings accounts that, while offering limited financial returns, provide the operational benefit of easy access and improved cash flow management.

A Finance and Treasury Working Group was introduced to begin a review of potential investment opportunities.

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:

  1. End of external grant funding 2024 marked the final year that UACES received external grant funding from the Jean Monnet Programme, European Commission and the James Madison Charitable Trust. Over the last 20 years, UACES had 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. With no further applicable funding streams available and the conclusion of our James Madison Charitable Trust funding, UACES will, in the interim rely entirely on membership fees, conference income, and journal revenues. The Trustees and staff are actively investigating opportunities to diversify income streams whilst simultaneously reviewing current activities to ensure they remain financially viable within reduced budgetary constraints. This approach will help UACES to ensure financial sustainability, maintain our core activities and continue to support important programmes.

  2. 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 Contemporary European Politics, 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.

  3. Membership of UACES Staff and Trustees continue to monitor the Association’s membership retention and recruitment and considering ways to boost membership numbers going forwards. UACES's raison d'être is its members so it is very important that we explore all methods for growth in this area.

  4. University sector financial pressures Universities globally, particularly in the UK and Netherlands are experiencing financial challenges. These include reduced funding, declining international student enrolments, increased operational costs and budget constraints that directly impact academic departments and individual researchers and students. As universities implement cost-cutting measures, there is increased pressure on academic staff travel budgets, conference attendance funding, and memberships to professional associations. These sector-wide financial pressures pose risks to UACES through potential membership attrition, reduced conference participation and limited capacity for academics to engage in association activities. The Trustees recognise that supporting members through these challenging times while maintaining financial sustainability requires careful balance.

6

6. Plans for the Future

The newly elected Chair took up their post on 1 September 2024 and hosted a comprehensive strategy workshop in October 2024 to engage trustees, Committee members and staff in defining UACES' strategic focus for the period 2025-2028. While this report covers the final year of the previous Chair's term, this collaborative planning process will inform the organisation's future direction as it navigates the evolving landscape of European studies and addresses the financial challenges outlined in this report.

a) Ongoing activities

UACES will continue to consolidate its core activities including conferences, publications, member services and its commitment to EDI as the foundation for future strategic development under the new Chair’s leadership.

b) Focus during 2021-2024 (previous Chair’s term of office) on the following areas:

09/24/2025 The annual report was approved by the Trustees of the charity on ……………………. and signed on its behalf by:

......................................... Viviane Gravey (Sep 25, 2025 09:36:04 GMT+1) Dr Viviane Gravey Secretary

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

Professor A Haastrup Chair

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 2022, 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 organisation's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

09/24/2025

Approved by the trustees of the charity on ......................... and signed on its behalf by:

......................................... Viviane Gravey (Sep 25, 2025 09:36:04 GMT+1)

Dr Viviane Gravey Secretary

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 2024.

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 2022 (‘the Act’).

I report in respect of my examination of the UACES's accounts carried out under section 145 of the 2022 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 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:.............................

9

UACES

Statement of Financial Activities for the Year Ended 31 December 2024

Note Unrestricted
funds
Restricted funds
Total
2024
£
£
£
Income and Endowments from:
Donations and legacies -
21,251
21,251
Charitable activities 113,305
-
113,305
Other trading activities 270,654
-
270,654
Investment income
4		 10,406
-
10,406
Total income 394,365
21,251
415,616
Expenditure on:
Charitable activities (335,941)
(21,251)
(357,192)
Total expenditure (335,941)
(21,251)
(357,192)
Net income 58,424
-
58,424
Net movement in funds 58,424
-
58,424
Reconciliation of funds
Total funds brought forward 532,934
-
532,934
Total funds carried forward
16		 591,358
-
591,358
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

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16.

10

UACES

(Registration number: 1163773) Balance Sheet as at 31 December 2024

Note 2024
2023
£
£
Fixed assets
Tangible assets
12		 12,011
8,016
Current assets
Debtors
13		 292,966
259,261
Cash at bank and in hand
14		 355,877
339,045
648,843
598,306
Creditors: Amounts falling due within oneyear
15		 (69,496)
(73,388)
Net currentassets 579,347
524,918
Netassets 591,358
532,934
Funds of the charity:
Unrestricted income funds
Unrestricted funds 591,358
532,934
Total funds
16		 591,358
532,934

09/24/2025

The financial statements on pages 11 to 22 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

......................................... Professor A Haastrup Trustee ......................................... Dr R M Fernandez Martin Trustee

11

Notes to the Financial Statements for the Year Ended 31 December 2024

UACES

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 2022.

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.

12

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (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 organisation 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.

13

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (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
Unrestricted
funds
Restricted
Total
General
funds
funds
£
£
£
Grants, including capital grants;
Governmentgrants -
21,251
21,251
Total for 2024 -
21,251
21,251
Total for 2023 350
56,133
56,483

14

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

3 Income from charitable activities

Unrestricted
funds Restricted Total
General funds funds
£ £ £
Donations and Grants - 21,251 21,251
Conference and Events 74,332 - 74,332
Membership subscriptions 38,973 - 38,973
Journal publication 270,654 - 270,654
Investment income 10,406 - 10,406
Total for 2024 394,365 21,251 415,616
Total for 2023 349,337 56,133 405,470

4 Investment income

Unrestricted
funds
Total
General
£
funds
£
Interest receivable and similar income;
Interest receivable on bank deposits 10,406
10,406
Total for 2024 10,406
10,406
Total for 2023 4,186
4,186
5
Expenditure on charitable activities
Unrestricted
funds
Restricted
Total
General
funds
funds
£
£
£
Conferences and Events 87,368
-
87,368
Student Support 27,020
-
27,020
Membership and administration 191,937
21,251
213,188
Journalpublication 29,616
-
29,616
Total for 2024 335,941
21,251
357,192
Total for 2023 284,501
56,133
340,634

15

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

6 Independent examiner fees

Examination of the financial statements

Total for 2024 £2,976

Total for 2023 £2,712

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 £21,251 (2023 - £56,133).

8 Trustees remuneration and expenses

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

Dr V Gravey £608 (2023: £465) of expenses were reimbursed to Dr V Gravey during the year.

Travel expenses Dr K Slootmaeckers £605 (2023: £110) of expenses were reimbursed to Dr K Slootmaeckers during the year.

Travel expense Dr G Benedetto £37 (2023: £42) of expenses were reimbursed to Dr G Benedetto during the year.

Travel expenses Dr R M Fernandez Martin £909 (2023: £1,035) of expenses were reimbursed to Dr R M Fernandez Martin during the year.

Travel expenses Dr A Haastrup £808 (2023: £Nil) of expenses were reimbursed to Dr A Haastrup during the year.

Travel expenses Prof S Usherwood £Nil (2023: £360) of expenses were reimbursed to Prof S Usherwood during the year.

Travel expenses 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.

16

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

9 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
2024
2023
£
£
Staff costs during the year were:
Wages and salaries 148,658
139,867

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:

during the year expressed as full time equivalents was as follows:
2024
2023
No
No
Administration 1
1
Charitable Activities 3
3
4
4

Contributions to the employee pension schemes for the year totalled £12,583 (2023 - £11,882).

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

10 Independent examiner's remuneration

10
Independent examiner's remuneration
2024
2023
£
£
Examination of the financial statements 2,712
2,712

17

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (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 2024 59,124
59,124
Additions 14,859
14,859
At 31 December 2024 73,983
73,983
Depreciation
At 1 January 2024 51,108
51,108
Charge for theyear 10,864
10,864
At 31 December 2024 61,972
61,972
Net book value
At 31 December 2024 12,011
12,011
At 31 December 2023 8,016
8,016
13
Debtors
2024
2023
£
£
Trade debtors -
4,114
Prepayments 549
5,643
Other debtors 292,417
249,504
292,966
259,261
14
Cash and cash equivalents
2024
2023
£
£
Cash on hand 463
213
Cash at bank 355,414
338,832
355,877
339,045

18

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

15
Creditors: amounts falling due within one year		 15
Creditors: amounts falling due within one year
2024
£
2023
£
Trade creditors 10,793
6,632
Other creditors 50,974
64,236
Accruals 7,729
2,520
69,496
73,388
16
Funds
Balance at 1
Incoming
Resources
Balance at 31
January 2024

resources
expended
December 2024

£
£

£
£
Unrestricted funds
General
Unrestricted General Fund 532,934
394,365
(335,941)
591,358
Restricted funds
European Commission -
21,251
(21,251)
-
Total funds 532,934
415,616
(357,192)
591,358
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
European Commission -
56,133
(56,133)
-
Total funds 468,098
405,470
(340,634)
532,934

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.

19

UACES

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

17 Analysis of net funds
At 1 January At 31 December
2024 2024
£ £
Cash at bank and in hand 339,045 355,877
Net debt 339,045 355,877
At 1 January At 31 December
2023 2023
£ £
Cash at bank and in hand 325,708 339,045
Net debt 325,708 339,045

20

UACES

Statement of Financial Activities by fund for the Year Ended 31 December 2024

Total
Total
Unrestricted
Unrestricted
Funds
Funds
2024
2023
£
£
Income and Endowments from:
Donations and legacies -
350
Charitable activities 113,305
113,118
Other trading activities 270,654
231,683
Investment income 10,406
4,186
Total income 394,365
349,337
Expenditure on:

Charitable activities		 (335,941)
(284,501)
Total expenditure (335,941)
(284,501)
Net income 58,424
64,836
Net movement in funds 58,424
64,836
Reconciliation of funds
Total funds brought forward 532,934
468,098
Total funds carried forward 591,358
532,934

21

UACES

Statement of Financial Activities by fund for the Year Ended 31 December 2024 (continued)

Total
Total
Restricted
Restricted
Funds
Funds
2024
2023
£
£
Income and Endowments from:
Donations and legacies 21,251
56,133
Total income 21,251
56,133
Expenditure on:
Charitable activities (21,251)
(56,133)
Total expenditure (21,251)
(56,133)
Net income/(expenditure) -
-
Reconciliation of funds
Total funds carried forward -
-

22

UACES Accounts with Trustees Report 311224 V1.9 (1)

Final Audit Report

2025-10-03

Created: 2025-09-24 By: Kerry Cole (kcole@uaces.org) Status: Signed Transaction ID: CBJCHBCAABAAz_za6EvuxVxhdSR0QCE5zGWr7zZ4YahU

"UACES Accounts with Trustees Report 311224 V1.9 (1)" Histor y

2025-09-24 - 5:17:49 PM GMT

Document emailed to toni.haastrup@manchester.ac.uk for signature 2025-09-24 - 5:17:54 PM GMT

Document emailed to Viviane Gravey (v.gravey@qub.ac.uk) for signature 2025-09-24 - 5:17:55 PM GMT

Document emailed to r.fernandez.martin@keele.ac.uk for signature 2025-09-24 - 5:17:55 PM GMT

Email viewed by toni.haastrup@manchester.ac.uk 2025-09-24 - 5:19:40 PM GMT

Signer toni.haastrup@manchester.ac.uk entered name at signing as A Haastrup 2025-09-24 - 5:20:50 PM GMT

Document e-signed by A Haastrup (toni.haastrup@manchester.ac.uk) Signature Date: 2025-09-24 - 5:20:52 PM GMT - Time Source: server

Email viewed by Viviane Gravey (v.gravey@qub.ac.uk) 2025-09-25 - 8:34:48 AM GMT

Document e-signed by Viviane Gravey (v.gravey@qub.ac.uk) Signature Date: 2025-09-25 - 8:36:04 AM GMT - Time Source: server

Email viewed by r.fernandez.martin@keele.ac.uk 2025-10-03 - 8:09:53 AM GMT

Signer r.fernandez.martin@keele.ac.uk entered name at signing as Rosa Maria Fernandez Martin 2025-10-03 - 8:10:46 AM GMT

Document e-signed by Rosa Maria Fernandez Martin (r.fernandez.martin@keele.ac.uk) Signature Date: 2025-10-03 - 8:10:48 AM GMT - Time Source: server

Agreement completed.

2025-10-03 - 8:10:48 AM GMT