BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT (A Charitable Incorporated Organisation)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
Charitable Incorporated Organisation Registration Number: 1185019 (England & Wales)
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details | 3 |
| Trustees' Report | 4 |
| Statement of Trustees' Responsibilities | 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 |
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, TRUSTEES AND ADVISORS
Trustees
Amanda Kaye (appointed Sept 2015, elected Chair Sept 2022) Ruth Barrett (appointed Nov 2022) Sue Longhorne (appointed Nov 2022) Chris Christoforou (appointed Sept 2022) Scott Brierley (appointed July 2021; elected Vice-Chair Sept 2022) Tara Hanif (appointed July 2021) Brian Baughan (appointed July 2020; Vice-Chair June 2021 to Sept 2022) Stuart Jones (appointed July 2021; elected Vice-Chair Sept 2022) Lynne Reeves (appointed Oct 2023) Emma Banks (appointed June 2023) Vicki Broad (appointed May 2023)
Senior Management Team Services Group Operations Manager Anne-Marie Hunt, Inspiral Marketing Ltd Network Manager Neil Limbrick, The Education Collective Ltd Principal and Registered Office 9-11 Vittoria Street Birmingham B1 3ND Charity Registration Number 1185019 Independent Examiner UHY Hacker Young (Birmingham) LLP 9-11 Vittoria Street Birmingham B1 3ND
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report together with the financial statements and report of the charitable organisation for the year ended 31 March 2024. Birmingham Association of School Business Management (BASBM) exists to support and promote school business management practitioners in approximately 400 Birmingham schools in which they work. School business management practitioners duties include matters essential for schools to thrive such as Finance, Estates, HR, Compliance, Goverence, etc. and the competent exercise of these duties has become critical to education in schools with the growth of academies and funding constraints.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Charity is a charitable incorporated organisation (CIO) with no share capital (Registration Number: 1185019) and is an exempt charity. The trustees of BASBM are also the trustees of the charity for the purposes of charity law. The CIO is known as BASBM and is a corporate body with limited liabilities.
Details of the trustees who served during the year except as noted are included in the Reference and Administrative Details on page 3.
Trustees' Indemnities
BASBM has in place professional Indemnity insurance cover to a limit of £1m.
Method of Recruitment and Appointment or Election of Trustees
There are clearly defined and approved procedures for the selection and appointment of trustees which are outlined in the charity's documents. These include eligibility and commitment. Consideration is given to the skills of trustees which would enhance the effectiveness of the charity.
OBJECTIVES AND ACTIVITIES
Objects and Aims
To advance education for the public benefit in such ways as the charity trustees think fit, including by in particular but not exclusively any of the following:
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Facilitating a support network for school business leaders in Birmingham to foster good professional practice and practical solutions to business problems and issues arising in schools, primarily via the BASBM website forum and with reference to the ISBL standards Enabling school improvement by working individually or collectively with members and other organisations, both locally and nationally
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Organising and hosting conferences, workshops and other events in person and on-line for training and development for all school support staff with business management responsibilities
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Enabling educational suppliers to liaise effectively with school business leaders for services, equipment and capital projects
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Representing members in relevant forums and raising the professional profile of school business management practitioners
To achieve these, the charity pursued certain priorities in the year:
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Increasing the membership by active contact with members and schools where there had been no renewal or engagement and where schools had moved into MATs
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Re-establishing trust with suppliers after cancelled conferences and building back the necessary level of sponsorship for these events and the website
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Entering into specific dialogue with BEP and BCC in Birmingham and ISBL for the advancement of the profession more generally
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Liaising between BCC and members and representing members to address the consequences of BCC 's failed financial system change to Oracle
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Encouraging membership of ISBL and attendance at its annual conference for all trustees
Public Benefit
Trustees have consideration to the general guidance on public benefit and in particular to its supplementary guidance on education. As noted above, the objective is to advance for the public benefit education in the United Kingdom.
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 (cont'd) STRATEGIC REPORT
Achievements and Performance
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Supporting members and trustees with a strong business model as a CIO, enabling BASBM to continue as a strategic player in the educational landscape.
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Providing all members with appropriate tools and information to grow both personally and professionally, including access to the SBM Toolkit.
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Maintenance of the programme of termly conferences for members and sponsors.
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The continuation of access to FundEd to support income generation at local levels which will support members, their schools and communities.
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Growing the membership, reaching out to staff in MATs particularly, and restoring strength in numbers to the BASBM sponsors.
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Effective operation of a professional accounting system and procedures subject to audit scrutiny that ensures full HMRC compliance and accountability.
Key Financial Performance Indicators
The charity established a financial budget at the start of the year and then monitored performance against budget during the period. Considerable work is undertaken to ensure the continued financial viability of the organisation. Trustees play a key role in holding themselves and each other to account in key financial matters. This is demonstrated by the following:
| key financial matters. This is demonstrated by the following: | ||
|---|---|---|
| 2024 | 2023 | |
| Current active members | 321 | 306 |
| Subscription income generated | £ 14,285 | £14,617 |
| Exhibition / Sponsorship income generated | £ 54,233 | £38,190 |
| Reserves funding in place | £137,729 | £159,945 |
Going Concern
After making appropriate enquiries, the Board of Trustees has a reasonable expectation that the Charitable Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason it continues to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Statement of Accounting policies.
FINANCIAL REVIEW
Overview
The principal source of income for the charity is subscriptions, exhibitions and website advertising.
During the year ended 31 March 2024 (31 March 2023), total income of £73,376 (2023: £54,827) was less than the expenditure £95,592 (2023: £48,526). There was a deficit for the year of £22,216 (Surplus in 2023: £6,301).
This year's deficit was the consequence of rising costs without increasing membership subscriptions and charges to sponsors and advertisers in time and the first full year of activity since before the Covid pandemic. The delayed engagement in 2023 for a Group Operations Manager until 1 November was a significant contributory factor as well as a backlog of renewals for memberships and web advertising (See particularly Note 10: £19,143 in deferred income).
BASBM expects to run conferences at a modest loss but event venues are experiencing high demand now and have increased their charges markedly. Taking this into account, changes are already afoot to ensure improved financial performance going forward.
Note, however, that the plan to introduce a scheme for training grants and bursaries to schools from Autumn 2024 to address the growing SBM recruitment and retention issues is fully in accordance with the policy to reduce the level of reserves held.
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 (cont'd) Financial and Risk Management Objectives and Policies
The Charity's financial and risk management objectives are documented in its:
-
Official budgets
-
Scheme of delegation Financial regulations Risk management policy
These documents are available on request, and particular items which warrant specific disclosure are noted within this annual report.
Reserves Policy
The trustees review the level of reserves annually. This review encompasses the nature of income and expenditure streams, the need to match income with commitments and the level of reserves taking into account the risks involved. Post Covid, and during organisational changes, when it was wise to sustain reserves at a high level, the trustees have determined that the appropriate level of reserves for purposes of going concern should be £100,000 at present. Surplus reserves built up by the Charity beyond this level have been earmarked to support business management practitioners specifically with personal professional development; expansion of the uptake for the SBM Toolkit in 2023/24 has been consistent with this change in policy.
Reserves as at 31 March 2024 were £137,729 (2023: £159,945).
Investment Policy
All investments are made in accordance with the policy of the charity. The charity's policy on investments are one of minimum risk with all investments being held with the charity's bankers. The charity will nevertheless seek to maximise interest receipts within this arrangement. Investments are made with regard to Charity Commission guidance in relation to investments.
PRINCIPLE RISKS AND UNCERTAINTIES
The trustees consider that their managerial arrangements have been effective in the period being reported, especially due to vigorous recovery from an exceptional shortfall in administrative and marketing services in 2022.
The trustees have ensured in 2023/24 that BASBM has a secure number of members, sponsors and exhibitioners, enhanced governance with new recruits co-opted to the board and robust internal control.
At the time of reporting, the trust's identified key risks are:
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Loss of personnel and sensitive information;
-
The risk of national and local funding reductions;
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Increasing academisation, in line with Government policy and particularly further to BCC's recent failure to implement a new finance system, that is expected to increase centralisation of support services and reduce potential for front-line membership;
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Changes to rules and regulations.
Mitigating action, both current and planned, has been identified to address these risks. This is also true of all other risks that have been formally identified which have a lower level of impact and/or likelihood.
Risk Management
Trustees have reviewed the risks to which the Charity Trust is exposed and systems and procedures have been put in place to manage these.
Fundraising
Under the provisions of the Charities (Protection and Social Investment) Act 2016 , the charity will run fundraising events to raise money for other charities or for the charity itself. The charity does not work with any professional fundraisers. Where money is raised, this is collected and receipted appropriately. The charity has a complaints procedure to ensure any concerns can be reported.
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 (cont'd)
Plans for Future Periods
The charity will continue to closely monitor local and national funding developments and the impact that this may have on the charity's financial position. The charity will also remain cognisant of local changes within Birmingham that could affect the charity and explore opportunities for growth.
In the summer of 2024, BASBM is participating in a regional West Midlands conference staged by EdExec Ltd., instead of hosting its own local event on this occasion, which is providing an opportunity to collaborate with neighbouring SBM groups to benefit from a wider range of speakers and topics.
Auditors
In so far as the trustees are aware:
-
there is no relevant information of which the charitable incorporated organisation's independent examiner is unaware;
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
The independent examiner, UHY Hacker Young (Birmingham) LLP, are willing to continue in office and a resolution to appoint them will be proposed at the annual general meeting.
The Trustees' Report incorporating a strategic report was approved by the board of trustees on 30 May 2024 and signed on their behalf by:
Amanda Kaye Chair of Trustees 30 May 2024
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024
The Trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with appliable law and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - Charities SORP (FRS 102) and the Financial Reporting Standard appliable in the UK and Republic of Ireland (FRS 102).
The law applicable to charities in England and Wales 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:
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select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping 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 Charity (Accounts and Reports) Regulations 2008, Financial Reporting Standard (FRS 102) and the provisions of the trust deed. They 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.
Approved by the Trustees and signed on their behalf by:
Amanda Kaye Chair of Trustees 30 May 2024
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2024
I report to the charity trustees on my examination of the accounts of the charitable incorporated organisation (CIO) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charitable incorporated organisation's trustees you are responsible for the preparation of the
I report in respect of my examination of the charitable incorporated organisation's accounts carried out under section 145 of the 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:
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accounting records were not kept in respect of the charitable incorporated organisation as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable 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 and fair 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.
Malcolm Winston FCCA
UHY Hacker Young (Birmingham) LLP 9-11 Vittoria Street Birmingham B1 3ND
30 May 2024
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
(Including Income and Expenditure Account)
| Note Income from: Donations and capital grants 2 Charitable activities: - Funding for the charitable trust's operations 3 Investment income 4 Total Expenditure on: Raising funds 5 Charitable activities: 5 Other 5 Total Transfers between funds 11 Net movement in funds Reconciliation of funds Total funds brought forward 11 11 Net income / (expenditure) Total funds carried forward - Charitable trust's educational operations |
Unrestricted Funds £ - 68,518 4,858 |
Restricted General Funds £ - - - - - - - - - - - - - |
Total £ - 68,518 4,858 73,376 - 95,592 - 95,592 (22,216) - (22,216) 159,945 137,729 01.04.23 to 31.03.24 |
Total £ - 52,807 2,020 01.04.22 to 31.03.23 |
|---|---|---|---|---|
| 73,376 | 54,827 | |||
| - 95,592 - |
- 48,526 - |
|||
| 95,592 | 48,526 | |||
| (22,216) - |
6,301 - |
|||
| (22,216) | 6,301 | |||
| 159,945 | 153,644 | |||
| 137,729 | 159,945 |
All of the charitable trust's activities derive from acquisitions and continuing operations during the above financial period.
BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
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BALANCE SHEET AS AT 31 MARCH 2024
| Note 9 10 Total Net Assets Restricted income fund 11 Unrestricted income fund 11 Total unrestricted funds 11 Total restricted funds Total funds Debtors Current assets Restricted funds Cash at bank and in hand Current liabilities Creditors:Amounts falling due within one year Net current assets Funds of the charity: |
2024 £ 10,260 165,103 175,363 (37,634) (37,634) 137,729 137,729 - - 137,729 137,729 137,729 |
2023 £ 9,594 175,901 |
|---|---|---|
| 185,495 | ||
| (25,550) | ||
| (25,550) | ||
| 159,945 | ||
| 159,945 - |
||
| - | ||
| 159,945 | ||
| 159,945 | ||
| 159,945 |
The financial statements on pages 10 to 20 were approved by the trustees and authorised for issue on 30 May 2024 and signed on their behalf by:
Amanda Kaye Chair of Trustees
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Statement of Accounting Policies
A summary of principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.
Basis of Preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), and the Charities Act 2011.
Birmingham Association of School Business Management BASBM) meets the definition of a public benefit entity under FRS 102.
Going Concern
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Income
All incoming resources are recognised when the charity has entitlement to the funds, the receipt is probable and the amount can be measured reliably.
Subscription income
- Subscription income provided to the charity is recognised in the Statement of Financial Activities in the period in which it is receivable, where receipt is probable and it can be measured reliably.
Donations
- Donations are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured.
Other income
- Other income, including the hire of facilities, is recognised in the period it is receivable and to the extent the charity has provided the goods or services.
Donated goods, facilities and services
-
Goods donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. If it is practical to assess the fair value at receipt, it is recognised in stock and from other trading Upon sale, the value of the stock is charged against
-
from other trading and the proceeds are recognised as from other trading Where it is impractical to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within from other trading Where the donated good is a fixed asset it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset category and depreciated over the useful economic life in accordance with
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont'd)
1 Statement of Accounting Policies (Cont'd)
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the
Expenditure on Raising Funds
This includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Charitable Activities
These are costs incurred on the educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
All resources expended are inclusive of irrecoverable VAT.
Tangible Fixed Assets
Assets costing £500 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.
Depreciation is provided on a straight line basis on the cost of tangible fixed assets, to write them down to their estimated residual values over their expected useful lives. No depreciation is provided on leasehold land where the lease is more than 20 years. The principal annual rates used for other assets are: Furniture and equipment 10% Computer equipment and software 25%
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.
Leased assets
Rentals under operating leases are charged on a straight line basis over the lease term.
Financial Instruments
The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 9. Prepayments are not financial instruments.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost as detailed in note 10.
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
VAT
Value added tax is chargeable on all subscription, advertising and meeting income. Value added tax, where applicable, is recoverable on all charitable related expenditure.
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont'd)
1 Statement of Accounting Policies (Cont'd)
Fund Accounting
Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the charity at the discretion of the trustees.
Restricted general funds comprise all other restricted funds received with restrictions imposed by the funder/donor.
Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the
Critical accounting estimates and assumptions
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are subscriptions, exhibition income and website advertising.
Critical areas of judgement
There are no critical judgements that the Trustees have made in the process of applying the charity's accounting policies on the amounts recognised in the statutory financial statements.
| 2 Unrestricted Funds £ Capital grants - Donations - - DONATIONS AND CAPITAL GRANTS |
2 Unrestricted Funds £ Capital grants - Donations - - DONATIONS AND CAPITAL GRANTS |
Restricted Funds £ - - - |
Total Total 2024 2023 £ £ - - - - - - |
|---|---|---|---|
| - |
The income from donations and capital grants was unrestricted for both year ending 31 March 2024 and 31 March 2023.
3 FUNDING FOR THE CHARITY'S OPERATIONS
| Unrestricted Funds £ Subscriptions 14,285 Exhibitions 34,680 Website Advertising 19,553 68,518 - 68,518 Other income from the charitable trust's educational operations |
Unrestricted Funds £ Subscriptions 14,285 Exhibitions 34,680 Website Advertising 19,553 68,518 - 68,518 Other income from the charitable trust's educational operations |
Restricted Funds £ - - - - - - |
Total 2024 £ 14,285 34,680 19,553 |
Total 2023 £ 14,617 8,925 29,265 |
|---|---|---|---|---|
| 68,518 | 68,518 | 52,807 | ||
| - | - | - | ||
| 68,518 | 68,518 | 52,807 |
The income from funding for the charity's operations was unrestricted for both year ending 31 March 2024 and 31 March 2023.
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont'd)
----- Start of picture text -----
4 INVESTMENT INCOME Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Bank interest received 4,858 - 4,858 2,020
-
4,858 4,858 2,020
The income from the charitable trust's investment income was unrestricted for both year ending 31 March
2024 and 31 March 2023.
5 EXPENDITURE Non Pay Expenditure
Staff Costs Premises Other Costs Total Total
2024 2023
£ £ £ £ £
Expenditure on raising funds
Direct costs - - - - -
- - - - -
Allocated support costs
Direct costs - - 62,082 62,082 29,923
Allocated support costs 23,000 - 10,510 33,510 18,603
-
23,000 72,592 95,592 48,526
-
23,000 72,592 95,592 48,526
The charitable trust's expenditure was unrestricted for both year ending 31 March 2024 and 31 March
2023.
----- End of picture text -----
| Net expenditure for the year includes: Fees payable to independent examiner |
Total 2024 £ 2,700 |
Total 2023 £ 2,575 |
|---|---|---|
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont'd)
6 CHARITABLE ACTIVITIES
| CHARITABLE ACTIVITIES Direct costs Support costs Analysis of Direct Costs Meeting costs Group operation fees Website Analysis of Support Costs Administration, marketing and network services Insurance, postage and stationery Professional fees Accountancy |
Total 2024 £ 62,082 33,510 95,592 51,525 2,170 8,387 62,082 23,000 2,175 5,560 2,775 33,510 |
Total 2023 £ 29,923 18,603 |
|---|---|---|
| 48,526 21,529 600 7,794 |
||
| 29,923 | ||
| 12,140 1,478 2,575 2,410 |
||
| 18,603 |
7 STAFF
Key management personnel
The key management of the charity is delivered through a service level agreement with Inspiral Marketing Ltd and The Education Collective who are listed on page 3 in addition to work from the Trustees. The total amount of management benefits payable under these SLAs for their services to the charity for year ending 31 March 2024 was £31,387 (31 March 2023: £12,140).
8 RELATED PARTY TRANSACTIONS - TRUSTEES' REMUNERATION AND EXPENSES
No trustees received any remuneration. However, employer re-imbursements are paid in compensation for schools releasing their SBMs in working time for BASBM meeting attendance.
During the year ended 31 March 2024 (31 March 2023); travel and subsistence expenses totalling £193 (2023: £Nil) were reimbursed to trustees, subscription costs of £869 (2023: £Nil) were paid on behalf of 6 Trustees and conference attendance costs of £3,318 (2023: £Nil).
Other related party transactions including trustees are set out in note 13.
| 9 DEBTORS Trade debtors Prepayments and accrued income |
2024 £ 7,073 3,187 10,260 |
2023 £ 6,450 3,144 |
|---|---|---|
| 9,594 |
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BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont'd)
| 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT payable Accruals and deferred income Deferred Income Deferred income at 1 April Resources deferred in the year Amounts released from previous period Deferred income at 31 March |
2024 £ 7,940 6,921 22,773 37,634 2024 £ 6,767 19,143 (6,767) 19,143 |
2023 £ 8,992 7,186 9,372 |
|---|---|---|
| 25,550 2023 £ 14,706 6,767 (14,706) |
||
| 6,767 |
At the balance sheet date the charitable company was holding funds received in advance for website advertising totalling £19,143 (2023 : £6,767).
11 FUNDS
The income funds of the charity comprise the following balances of funds to be applied for specific purposes:
| Balance at Incoming Resources 1 April Resources Expended 2023 Unrestricted Funds £ £ £ Unrestricted funds 159,945 73,376 (95,592) Total unrestricted funds 159,945 73,376 (95,592) Total Funds 159,945 73,376 (95,592) Comparative information in respect of the preceding period is as follows: Balance at Incoming Resources 1 April Resources Expended 2022 Unrestricted Funds £ £ £ Unrestricted funds 153,644 54,827 (48,526) Total unrestricted funds 153,644 54,827 (48,526) Total Funds 153,644 54,827 (48,526) |
Balance at Incoming Resources 1 April Resources Expended 2023 Unrestricted Funds £ £ £ Unrestricted funds 159,945 73,376 (95,592) Total unrestricted funds 159,945 73,376 (95,592) Total Funds 159,945 73,376 (95,592) Comparative information in respect of the preceding period is as follows: Balance at Incoming Resources 1 April Resources Expended 2022 Unrestricted Funds £ £ £ Unrestricted funds 153,644 54,827 (48,526) Total unrestricted funds 153,644 54,827 (48,526) Total Funds 153,644 54,827 (48,526) |
Gains, Balance at Losses & 31 March Transfers 2024 £ £ - 137,729 - 137,729 - 137,729 Gains, Balance at Losses & 31 March Transfers 2023 £ £ - 159,945 - 159,945 - 159,945 |
Gains, Balance at Losses & 31 March Transfers 2024 £ £ - 137,729 - 137,729 - 137,729 Gains, Balance at Losses & 31 March Transfers 2023 £ £ - 159,945 - 159,945 - 159,945 |
|---|---|---|---|
| (48,526) | 159,945 | ||
| (48,526) | 159,945 |
18
BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 (cont'd)
12 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fund balances at 31 March 2024 are represented by:
| ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances at 31 March 2024 are represented by: |
ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances at 31 March 2024 are represented by: |
||
|---|---|---|---|
| Unrestricted Funds £ 175,363 (37,634) 137,729 Unrestricted Funds £ 185,495 (25,550) 159,945 Current assets Current liabilities Comparative fund balances at 31 March 2023 are represented by: Current assets Current liabilities |
General Restricted Funds £ - - |
Total £ 175,363 (37,634) |
|
| - General Restricted Funds £ - - |
137,729 Total £ 185,495 (25,550) |
||
| 159,945 | - | 159,945 |
13 RELATED PARTY TRANSACTIONS
Emma Banks (Trustee) is Finance manager at Lindsworth School. BASBM received membership fees totalling £100 (2023: £100) from Lindsworth School during the year. £Nil (2023: £Nil) was due from Lindsworth School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £180 (2023: £Nil) to Lindsworth School during the year. £Nil (2023: £Nil) was due to Lindsworth School at 31 March 2024 in respect to these fees.
Ruth Barrett (Trustee) is a school business manager at Hamilton School. BASBM received membership fees totalling £150 (2023: £50) from Hamilton School during the year. £50 (2023: £Nil) was due from Hamilton School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £240 (2023: £120) to Hamilton School during the year. £Nil (2023: £Nil) was due to Hamilton School at 31 March 2024 in respect to these fees.
Brian Baughan (Vice-Chair) is a school business manager at Anglesey Primary School. BASBM received membership fees totalling £50 (2023: £50) from Anglesey Primary School during the year. £Nil (2023: £Nil) was due from Anglesey Primary School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £240 (2023: £Nil) to Anglesey Primary School during the year. £Nil (2023: £Nil) was due to Anglesey Primary School at 31 March 2024 in respect to these fees.
Vicki Broad (Trustee) is Business Improvement Partner at Birmingham Diocesan Multi-Academy Trust. BASBM received membership fees totalling £50 (2023: £50) from Birmingham Diocesan MultiAcademy Trust during the year. £Nil (2023: £Nil) was due from Birmingham Diocesan Multi-Academy Trust at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £330 (2023: £Nil) to Birmingham Diocesan Multi-Academy Trust during the year. £150 (2023: £Nil) was due to Birmingham Diocesan Multi-Academy Trust at 31 March 2024 in respect to these fees.
19
BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 (cont'd)
13 RELATED PARTY TRANSACTIONS (Cont'd)
Scott Brierley (Trustee) was a school business manager at Hodge Hill Girls' School until 12th June 2023 then moved to be Director of Resources at Small Heath Leadership Academy (Star Academies). BASBM received membership fees totalling £150 (2023: £125) from Hodge Hill Girls' School during the year and £Nil from Small Heath Leadership Academy during the year. £Nil (20233 £Nil) was due from Hodge Hill Girls' School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £250 to Small Heath Leadership Academy during the year and £Nil to Hodge Hill School. £150 (2023: £Nil) was due to Small Heath Leadership Academy at 31 March 2024 in respect to these fees.
Chris Christoforou (Trustee) is the Chief Financial Officer at Excelsior MAT. BASBM received membership fees totalling £50 (2023: £50) from Excelsior MAT during the year. £Nil (2023: £Nil) was due from Excelsior MAT at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £330 (2023: £120) to Excelsior MAT during the year £330 (2023: £Nil) was due to Excelsior MAT at 31 March 2024 in respect to these fees.
Tara Hanif (Trustee) is Business Manager / CFO at Reach School from October 23 prior to this she was at Elms Farm School as Business Manager. BASBM received membership fees totalling £50 (2023: £50) from Reach School during the year. £Nil (2023: £Nil) was due from Reach School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £Nil (2023: £Nil) to Reach School during the year and £60 to Elms Farm during the year (£Nil in 2023). £Nil (2023: £Nil) was due to Reach School at 31 March 2024 in respect to these fees.
Stuart Jones (Trustee) is a school business manager at Chilcote Primary School. BASBM received membership fees totalling £50 (2023: £50) from Chilcote Primary School during the year. £Nil (2023: £Nil) was due from Chilcote Primary School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £270 (2023: £120) to Chilcote Primary School during the year. £150 (2023: £Nil) was due to Chilcote Primary School at 31 March 2024 in respect to these fees.
In the prior year, ended 31 March 2023, Amanda Kaye (Trustee) was a school business manager working at Aston University Engineering Academy. BASBM received membership fees totalling £100 from Aston University Engineering Academy and during the year. £Nil was due from Aston University Engineering Academy at 31 March 2023 in respect to these fees. BASBM paid trustee reimbursements totalling £120 to Aston University Engineering Academy to Amanda Kaye during the year ended 31 March 2023. £Nil was due to Aston University Engineering Academy or Amanda Kaye at 31 March 2023 in respect to these fees.
20
BIRMINGHAM ASSOCIATION OF SCHOOL BUSINESS MANAGEMENT
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 (cont'd)
13 RELATED PARTY TRANSACTIONS (Cont'd)
Sue Longhorne (Trustee) is a school business manager at St Patrick's and St Edmunds Catholic Primary Schools. BASBM received membership fees totalling £50 (2023: £50) from St Patrick's and St Edmunds Catholic Primary Schools during the year. £Nil (2023: £Nil) was due from St Patrick's and St Edmunds Catholic Primary Schools at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £120 (2023: £120) to St Patrick's and St Edmunds Catholic Primary Schools during the year. £120 (2023: £120) was due to St Patrick's and St Edmunds Catholic Primary Schools at 31 March 2024 in respect to these fees.
Lynne Reeves (Trustee) is a school business manager at Bellfield Junior School. BASBM received membership fees totalling £50 (2023: £50) from Bellfield Junior School during the year. £Nil (2023: £Nil) was due from Bellfield Junior School at 31 March 2024 in respect to these fees. BASBM paid trustee reimbursements totalling £150 (2023: £Nil) to Bellfield Junior School during the year. £150 (2023: £Nil) was due to Bellfield Junior School at 31 March 2024 in respect to these fees.
14 EVENTS AFTER THE END OF THE REPORTING PERIOD
There are no material adjusting events arising after the balance sheet date.