OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← British Association For American Studies

2024-12-31-accounts

Charity registration number: 1170382

British Association for American Studies

Annual Report and Financial Statements

for the Year Ended 31 December 2024

British Association for American Studies

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 13
Statement of Trustees' Responsibilities 14
Independent Examiner's Report 15
Statement of Financial Activities 16
Balance Sheet 17
Notes to the Financial Statements 18 to 29

British Association for American Studies

Reference and Administrative Details

Trustees Dr G M Lennon Dr R L Farebrother Dr M A McLay Dr R J A Dini Dr L Witham Dr A M Fearnley Dr E Devienne E A Hall Dr C M Armstrong Dr S J Thelen C Dossett Dr E Brady Dr C Lloyd Dr K Ballantyne Dr H Emmett Charity Registration Number 1170382 Principal Office Department of Humanities University of Roehampton Roehampton Lane London SW15 5PU Independent Examiner The Moffatts Partnership LLP Suite 1.1, Jackson House Sibson Road Sale M33 7RR

Page 1

British Association for American Studies

Trustees' Report

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

Structure, governance and management

Nature of governing document

The British Association of American Studies constitution was adopted on 2nd April 1990. In May 1991 the Association was registered with the Charities Commission (registration number: 1002816). In November 2016 the Association changed its legal status, registering as a Charitable Incorporated Organisation (registration number: 1170382).

Recruitment and appointment of trustees

At each annual election three ordinary members are elected to hold office for three years. Each year, around the Annual General Meeting, the three committee members who have completed their term of office vacate their places and may offer themselves for re-election. No person may serve continuously as an elected member of the Committee for more than seven years. Candidates for election as members of the Committee must be able to complete the projected term without breaching this seven year total. Having reached the term limit, a year must elapse before a candidate may stand again for membership of the Committee. The Editor/s of the Journal of American Studies, if not already a member of the committee, will be a member, ex officio.

Organisational structure

The business of the Association is carried out by an Executive committee (trustees). This Committee consists of three officers (Chair, Secretary and Treasurer) together with nine members and one postgraduate student representative and one early career representative, who are nominated, seconded and elected around the Annual General meeting of the Association.

Membership

Membership of the Association also includes a membership subscription to the European Association of American Studies. A representative is elected by the Association at the Annual General Meeting to serve on the European Association for American Studies committee for five years. This representative is also a member of the British Association for American Studies Committee.

The Association has standing orders which specify the composition and conduct of a series of sub-committees with specific areas of responsibility. These are: Publications, Development and Education, Awards and Conference sub-committees.

Page 2

British Association for American Studies

Trustees' Report

Relationships with related parties

BAAS Publications Limited

A trading subsidiary of the charity.

Objectives and activities

Objects and aims

The purpose of the CIO shall be the advancement of education through the promotion of American studies for the public benefit by all or any of the following means:

The trustees have complied with the duty in S17 of the Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commission.

Holding conferences (an annual conference and numerous smaller conferences at venues around the UK on specialised US research or issues); promoting the work of the Journal of American Studies; book publication; supporting access to and preservation of US-related research materials in the UK; support for British students and scholars to travel in the United States; promoting American Studies activities via a website and newsletter and administering a large number of awards that promote the study of the US in the UK. In furtherance of these objectives the trustees ensured that:

• BAAS maintains a website available to both its membership and the public. The BAAS website provides unrestricted links to other key electronic resources for the advancement of education in the area of American studies.

• BAAS membership is open to anyone with a general interest, as well as a commitment to research, in the area of American studies. Subsidised rates are available for postgraduates, unwaged and retired subscribers.

• BAAS offers a series of grants and awards each year (see Achievements and Performance below). Requests for grants for conference support are made to the Conference and Awards sub-committees and considered at sub-committee and executive meetings on the basis of their relevance to the Association’s objectives. The various awards are competitive and judged by Committee members and members of the subject community in the UK.

• BAAS is commitment to incorporating equality and diversity into all aspects of its work.

Public benefit

The activities undertaken to further public benefit are mentioned above in objects and aims.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 3

British Association for American Studies

Trustees' Report

Achievements and performance

Financial review

For the year ended 31st December 2024 total incoming resources amounted to £111,988 (2023: £114,383)

Total resources expended for the year amounted to £100,470 (2023: £164,178)

The net result for the year was a surplus of £11,518 (2023: deficit £49,795) leaving the total retained funds of £318,342 (2023: £306,824) at the end of the year.

All of the retained funds related to unrestricted funds.

Policy on reserves

It is the policy of the charity to maintain general unrestricted funds at a level which equates to approximately 18 months’ unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.

Principal funding sources

The Association’s main source of income is membership subscriptions and, via its trading arm (BAAS Publications Ltd), royalty payments from Cambridge University Press for the Journal of American Studies. It also receives donations and some income from advertising in its newsletters, and royalties from Edinburgh University Press for the BAAS paperbacks series, from BRRAM on the sale of American Studies microfilms and digital resources, and from the Publishers Licensing Society.

Plans for future periods

BAAS continues it's focuses on future projects that promote the field through initiatives such as:

Other ongoing initiatives include developing the BAAS Development Fund to support research and networking and producing a new GREEN BAAS audit to encourage environmental teaching in UK universities.

Page 4

British Association for American Studies

Trustees' Report

Subcommittee Activities

Development and Education Subcommittee

BAAS Development Fund

The fund offers grants for up to a maximum of £2000 for a range of American Studies academic activities that seek to develop American Studies scholarly communities, including (but not limited to):

In 2024 the Development Fund awarded 16 grants:

Page 5

British Association for American Studies

Trustees' Report

Teaching American Studies Network

The Teaching American Studies Network, founded in 2020, organises events to support members in developing their teaching. A steering group, led by Lydia Plath, oversees the work of the network.

The following events took place in 2024:

Upcoming events include a TASN session at the BAAS Conference (23-25th April 2025). TASN was successful in 2024 in developing an established programme of events throughout the year, rather than scheduling them ad hoc.Teaching American Studies Network

Page 6

British Association for American Studies

Trustees' Report

Early Career and Postgraduate Network

Sian Round has spearheaded the design and development of the BAAS youtube channel. So far five videos have been uploaded as a part of the ‘How To’ series for postgraduate and early career academics. The videos include the following:

Green BAAS

Green BAAS, which is led by Elsa Devienne and Rebecca Tillett, was founded in 2019 to respond to increasing concerns about the environment and the United States’ relationship to climate change, and to consider and direct the changes that BAAS can make to contribute to collective global climate action. BAAS held its 2024 annual conference online as part of its commitment to lowering its carbon emissions. The BAAS executive committee (with approval from the membership in Keele at the 2023 general meeting) agreed to organise its annual conference online every three years.

Green BAAS has three main goals:

At the Green BAAS AGM in 2024 the organisation launched their first ever Climate Action Plan, which will be reviewed every year.

The seminar series included four events:

An upcoming session will take place on 4 April 2024, entitled ‘Let’s Write Together: Fridays’

BAAS School’s Outreach

Adam Burns and Andrew Fearnley published the next edition of O’er the Ramparts, a newsletter aimed at schools. This edition focused on the upcoming US election (Summer 2024).

Page 7

British Association for American Studies

Trustees' Report

Publications Sub-Committee Report, 2024-5

Chair : Dr Chris Lloyd

In this year, the Publications Sub-Committee (SC) changed from ‘Publications and Knowledge Exchange’ to align the areas more clearly with other SCs. This means we lost KE, but gained the Digital team within the SC. As such, the remit is: Journal of American Studies, USSO, ‘Critical Insights in American Studies’ (EUP), and Digital Team.

Updates:

JOURNAL OF AMERICAN STUDIES

US STUDIES ONLINE

Critical Insights in American Studies

Page 8

British Association for American Studies

Trustees' Report

Digital

Page 9

British Association for American Studies

Trustees' Report

Conferences Sub-Committee

PG BAAS

2024 PG BAAS was held on the 14th of November, with the theme “This is America”: Reimagined Pasts and Speculative Futures. After 2023, we now have two PG representatives, with the second year rep taking charge of organising the conference - they are able to advertise for a co-organiser if they wish.

This year’s conference was organised by Dr Riziki Millanzi and hosted by the University of Sussex. The event was an incredible success, with attendees from across the UK. As it was a hybrid event, at one point there were over 30 presenters and attendees online, as well as excellent in person attendance. It should be noted that Sussex had particularly strong technological support, which may not be available for all host institutions. All presenters received a contribution towards the cost of their attendance. There was a greater emphasis this year on cementing the links between the PG groups in European American Studies associations, and we hope this continues for future PG conferences.

The next PG conference will be organised by David Malcolm at Teesside University. We are currently exploring options for continuing the hybrid approach. David’s idea for the conference is:

‘The people favored and the people oppressed’: Inclusion, Exclusion, and the Unequal Struggle For Equality in America

The Declaration of Independence opens with the now famous assertion that ‘all men are created equal…with certain unalienable Rights’, an idea that has become deeply embedded in the political, social and cultural fabric of the United States. The idea of an independent nation whose people were free and equal fuelled the revolutions of South America who looked to their neighbour in the north for guidance in their own struggle for liberty.

However, America has always struggled to live up to the heady rhetoric of freedom and liberty for all. Even in the immediate aftermath of the American Revolution, as the Constitution boldly declared that the people had established a new order, it was clear that certain groups were not among 'The People’ and would be excluded from the proceedings. Yet the Constitution arguably laid the foundations for women, slaves, and indigenous people across the continent to fight for liberty and justice, a struggle that continues to this day.

Those struggles are an integral part of American history and culture, reflected in both the fictional and non-fictional narratives that have grown around them.

BAAS Digital Conference 2024

The British Association for American Studies 69th annual conference took place on Discord from April 10-12th, 2024. BAAS hired Connie Thomas (QMUL and Sussex) and Aisha Djelid (QMUL and Reading) as the conference co-managers. Connie and Aisha did a brilliant job managing the conference, which reflected BAAS’s green agenda and priorities.

Page 10

British Association for American Studies

Trustees' Report

A total of 173 delegates registered for the conference, with: 85 PGR / ECR / Unwaged / Precarious; 18 BAAS members; 31 None-members; 39 Free Code (e.g. keynote speakers). Feedback from the conference indicates that Discord was preferred to Zoom, as it allowed for greater social interaction.

Keynote events included: JAS Plenary: African American History and Class; American Studies Beyond the Academy; BAAS / Eccles Centre Plenary Panel: The Fallout from Barbenheimer.

Alongside positive feedback from participants, organisers noted several points for improvement in future online conferences, which are outlined in the Digital BAAS 2024 Conferences Report they produced. Some key takeaways include: considering weekend days alongside midweek; more communication around existing BAAS projects (e.g. TRPs) and greater organizer access to the website; more roundtables than traditional panels; more opportunities for training participants in Discord.

Green BAAS

Green BAAS is excited to present ‘Moving Conversations’ at the BAAS 2025 conference, an accessible and creative event for groups to support their writing practice.

Green BAAS has also been working with Sam Hawksford White, PhD student in American Studies at the University of Hull (Water Cultures), to research and publish a forthcoming audit on teaching Environmental American Studies in the UK and beyond. The audit will come with examples of successful teaching on environmental topics related to American studies.

Green BAAS is also happy to share the recently published special issue of New Area Studies entitled 'Environmental American Studies' with a preface by Lydia Plath and articles on the concept of kinship time in Indigenous writing, flood photography, W.E.B Du Bois and Environmental thought, and Indigenous land ethics.

Green BAAS has hosted its first "Let's Write Together" session on 16 January 2025. It was very successful, with many PhD students joining. A monthly writing sessions has been organized to keep the momentum going. The first edition of “LET’S WRITE TOGETHER FRIDAYS” is planned for Friday 4 April 2025 2-4pm (GMT) Zoom link to register is: https://us02web.zoom.us/meeting/register/K_-DAeXQR-WuterhsFoVLA

We will follow the formula of the first one: join, chat for 10 minutes, work on writing for 2 pomodoros (2X25), chat for 10 minutes, 2 pomodoros, wrap it up. People are welcome to join for only the first hour/last hour. If successful, the idea is to keep this going every month on the first Friday of the month (same time 2-4pm).

The final session of the GREEN BAAS 2024-25 roundtable series (on “No-Fly Research in a Climate Crisis: Reflections from the Digital Fieldwork”), which was initially planned for 20 March 2025, has been postponed for now. This is because we are now working with the Low-Carbon Research Methods Group to develop a bigger and bolder event on the same theme! More on this very soon… Previous online roundtables included the “Writing in/for the environmental humanities” (12 September 2024; 80 attendees) and “New Research in American Environmental Studies” (31 October 2024; 20 attendees).

Page 11

British Association for American Studies

Trustees' Report

Future Conferences

We have secured BAAS 2026 to be hosted 9-11 April at the University of Glasgow, organised by Professor Jo Gill. Two members of their organising committee will be in attendance at Hertfordshire.

With this conference, we also hope to launch a collaboration with the Irish Association of American Studies, to create a reciprocal conference fund for an attendee from each association to attend the opposite’s conference.

The conference in 2027 will be a Digital BAAS, as per our three-year sustainable BAAS initiative. Future potential conference sites for 2028 include the University of Warwick. Anyone on the committee interested in hosting in 2028 (or beyond) are encouraged to reach out to the Conferences Sub-Committee.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Page 12

British Association for American Studies

Trustees' Report

The annual report was approved by the trustees of the charity on 4 June 2025 and signed on its behalf by:

......................................... Dr M A McLay Trustee

Page 13

British Association for American Studies

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 4 June 2025 and signed on its behalf by:

......................................... Dr M A McLay Trustee

Page 14

British Association for American Studies

Independent Examiner's Report to the trustees of British Association for American Studies

I report to the trustees on my examination of the accounts of British Association for American Studies for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of British Association for American Studies 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 British Association for American Studies' 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

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 British Association for American Studies 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.

...................................... John Saxon F.C.A Institute of Chartered Accountants in England and Wales

The Moffatts Partnership LLP Suite 1.1, Jackson House Sibson Road Sale M33 7RR

4 June 2025

Page 15

British Association for American Studies

Statement of Financial Activities for the Year Ended 31 December 2024

Note
Income and Endowments from:
Charitable activities
2
Investment income
3
Total income
Expenditure on:
Charitable activities
Total expenditure
4
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
15		 Unrestricted
funds
£
21,653
90,334
111,987
(102,112)
(102,112)
9,875
9,875
306,824
316,699		 Total
2024
£
21,653
90,334
111,987
(102,112)
(102,112)
9,875
9,875
306,824
316,699		 Total
2023
£
42,730
71,653
114,383
(164,178)
(164,178)
(49,795)
(49,795)
356,619
306,824

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 15.

The notes on pages 18 to 29 form an integral part of these financial statements. Page 16

British Association for American Studies

(Registration number: 1170382) Balance Sheet as at 31 December 2024

Note
Fixed assets
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
13
Creditors: Amounts falling due within one year
14
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
15		 2024
£
100
132,451
257,325
389,776
(73,177)
316,599
316,699
316,699
316,699		 2023
£
100
45,519
341,853
387,372
(80,648)
306,724
306,824
306,824
306,824

The financial statements on pages 16 to 29 were approved by the trustees, and authorised for issue on 4 June 2025 and signed on their behalf by:

......................................... Dr M A McLay Trustee

The notes on pages 18 to 29 form an integral part of these financial statements. Page 17

British Association for American Studies

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

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

British Association for American Studies meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

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.

Investment income

Investment income is recognised on a receivable basis.

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.

Page 18

British Association for American Studies

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

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

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.

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.

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:

Asset class Depreciation method and rate Office Equipment Fully depreciated

Business combinations

Business combinations are accounted for under the purchase method. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the charity. All intra-group transactions, balances, income and expenses are eliminated on consolidation. In accordance with Section 35 of FRS 102, Section 19 of FRS 102 has not been applied in these financial statements in respect of business combinations effected prior to the date of transition.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Page 19

British Association for American Studies

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

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, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 20

British Association for American Studies

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

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the statement of financial activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

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.

Page 21

British Association for American Studies

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

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 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.

Investments

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

2 Income from charitable activities

Awards and Prize Giving
Subscriptions
Other Income		 Unrestricted
funds
General
£
86,932
15,424
4,645
107,001		 Total
2024
£
86,932
15,424
4,645
107,001		 Total
2023
£
63,231
16,335
7,104
86,670

Page 22

British Association for American Studies

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

3 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Other investment income
4
Expenditure on charitable activities
Prizes and Awards
Salaries
Conference Costs
Subscriptions
Admin costs
Travel costs
Other Costs
Bank charges and fees
Governance costs		 Unrestricted
funds
General
£
3,402
86,932
90,334
Unrestricted
funds
General
£
-
56,631
9,066
847
2,611
182
-
76
7,162
76,575		 Total
2024
£
3,402
86,932
90,334
Total
2024
£
-
56,631
9,066
847
2,611
182
-
76
7,162
76,575		 Total
2023
£
2,612
69,041
71,653
Total
2023
£
56,922
54,797
8,332
743
8,642
25
1,200
287
3,030
133,978

Page 23

British Association for American Studies

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

5 Analysis of governance and support costs

Governance costs

Independent examiner fees
Examination of the financial statements
Other fees paid to examiners
Other governance costs		 Unrestricted
funds
General
£
2,544
4,619
76
7,239		 Total
2024
£
2,544
4,619
76
7,239		 Total
2023
£
1,950
1,080
-
3,030

6 Grant-making

Analysis of grants
Grants to institutions Grants to individuals
2024 2023 2024 2023
£ £ £ £
Analysis
Grants - Prizes and Awards 45,000 45,000 109,380 109,380

Page 24

British Association for American Studies

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

7 Trustees remuneration and expenses

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

Expenses paid on behalf of the charity or expenditure incurred whilst performing duties for the charity by 7 trustees have been reimbursed.

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.

8 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2024
£
56,631		 2023
£
54,797

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:

Support Staff
No employee received emoluments of more than £60,000 during the year
9
Independent examiner's remuneration
Examination of the financial statements
Other fees to examiners
All other services		 2024
No
11
2024
£
2,544
4,619		 2023
No
13
2023
£
1,950
1,080

10 Taxation

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

Page 25

British Association for American Studies

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

11 Fixed asset investments

11 Fixed asset investments
Shares in group undertakings and participating interests
Shares in group undertakings and participating interests		 2024
£
100		 2023
£
100
Cost
At 1 January 2024
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Subsidiary
undertakings
£
100
100
100
100		 Total
£
100
100
100
100

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting rights Proportion of voting rights Principal
Undertaking incorporation Holding and shares held activity
2024 2023
Subsidiary undertakings
Publication of
journals to
encourage
BAAS Publications Ltd England Ordinary
Shares		 0% 100% education
and advance
study of the
United
States.

Page 26

British Association for American Studies

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

12 Debtors

12 Debtors
Due from group undertakings
13 Cash and cash equivalents
Cash at bank
Short-term deposits		 2024
£
132,451
2024
£
236,641
20,684
257,325		 2023
£
45,519
2023
£
321,169
20,684
341,853

14 Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals
15 Funds
Unrestricted funds
General
Unrestricted funds
General		 Balance at 1
January 2024
£
306,824
Balance at 1
January 2023
£
356,619		 Incoming
resources
£
111,987
Incoming
resources
£
114,383		 2024
£
25,949
42,272
4,956
73,177
Resources
expended
£
(102,112)
Resources
expended
£
(164,178)		 2023
£
14,361
64,337
1,950
80,648
Balance at 31
December 2024
£
316,699
Balance at 31
December 2023
£
306,824

Page 27

British Association for American Studies

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

16 Analysis of net assets between funds

Fixed asset investments
Current assets
Current liabilities
Total net assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
17 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 At 1 January
2023
£
395,575
395,575		 Unrestricted
funds
General
£
100
389,776
(73,177)
316,699
Unrestricted
funds
General
£
100
387,372
(50,448)
337,024
At 1 January
2024
£
341,853
341,853
Financing cash
flows
£
(53,720)
(53,720)		 Total funds at
31 December
2024
£
100
389,776
(73,177)
316,699
Total funds at
31 December
2023
£
100
387,372
(50,448)
337,024
At 31
December
2024
£
341,853
341,853
At 31
December
2023
£
341,855
341,855

Page 28

British Association for American Studies

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

18 Related party transactions

During the year the charity made the following related party transactions:

BAAS Publications Ltd

(The Charity holds 100% of the called up share capital of this company) The Charity receives gift aid payments from the company and also pays expenses on its behalf. At the balance sheet date the amount due from BAAS Publications Ltd was £132,451 (2023 - £45,519).

Page 29

British Association for American Studies

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

Income and Endowments from:
Charitable activities
Investment income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2024
£
21,653
90,334
111,987
(102,112)
(102,112)
9,875
9,875
306,824
316,699		 Total
Unrestricted
Funds
2023
£
42,730
71,653
114,383
(164,178)
(164,178)
(49,795)
(49,795)
356,619
306,824

This page does not form part of the statutory financial statements. Page 30

British Association for American Studies

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Income and Endowments from:
Charitable activities (analysed below)
Investment income (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2024
£
21,653
90,334
111,987
(102,112)
(102,112)
9,875
9,875
306,824
316,699		 Total
2023
£
42,730
71,653
114,383
(164,178)
(164,178)
(49,795)
(49,795)
356,619
306,824

This page does not form part of the statutory financial statements. Page 31

British Association for American Studies

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Charitable activities
Grants - other agencies
Subscriptions
Other income
Investment income
Gift aid payments from group undertakings
Interest on cash deposits
Charitable activities
Grants payable - institutions
Grants payable - individuals
Office expenses
Conference Costs
Trade subscriptions
Bank charges
Amortisation of goodwill
Wages and salaries
Accountancy fees
Independent examiner's fee
Bank charges		 Total
2024
£
1,585
15,424
4,644
21,653
86,932
3,402
90,334
-
25,536
2,612
9,065
848
-
181
56,631
4,619
2,544
76
102,112		 Total
2023
£
19,291
16,335
7,104
42,730
69,041
2,612
71,653
25,000
62,122
9,867
8,332
743
287
-
54,797
1,080
1,950
-
164,178

This page does not form part of the statutory financial statements. Page 32