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2023-07-31-accounts

Trustees' Annual Report for the period

Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod Trustees' Annual Report for theperiod
From Period start date To Period end date
1st Aug 2022 **31st ** July 2023

Section A Reference and administration details

Charity name

BAICE LTD

Other names charity is known by

British Association of International and Comparative Education

Registered charity number (if any) 1198916

red charity number (if any) 1198916
 1198916
Charity's principal address
BAICE LTD
14 Rosemary Avenue
Earley
READING
Postcode RG6 5YQ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11		 Trustee name Office (if any) Dates acted if not for
**whole year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Tejendra Pherali Chair
Alison Sarah Hemmings-
Buckler		 Vice-Chair
Ricardo Sabates Aysa Treasurer
David Turner
Jennifer Jomafuvwe
Agbaire		 Secretary
Michele Schweisfurth Until 1-October-
2022
Anesa Hosein
Emma Jackson
LI Jingyi
Namrata Rao
Thushari Welikala

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document Constitution (eg. trust deed, constitution)

How the charity is constituted

(eg. trust, association, company)

Charitable Incorporated Organisation

Trustee selection methods

(eg. appointed by, elected by)

New trustees are appointed by members of BAICE LTD during the Annual General Meeting every year.

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

The Trustees supported by other members of the Executive Committee support the day-to-day running of BAICE LTD. There are 18 Executive Members, out of whom 10 are currently Trustees. These 18 Executive Members are primarily responsible for BAICE LTD to achieve its objective which is the advancement of education for the public benefit in the subject of Comparative and International Education. All members of the Executive Committee are responsible for the correct application of the various policies and procedures to ensure transparency and equality and minimise any potential risks which may face the organisation.

The financial aspects of BAICE are led by the Treasurer, who is a Trustee, and supported by a Finance Manager, who is hired as a consultant to carry out the operations of BAICE. All operations are overseen and authorised by the Treasurer who follows the procedures set out and approved by the Executive Committee. The Treasurer and the Finance Manager are responsible for keeping accurate accounts of all transactions and for preparing the accounts for the end of year Independent Examination and for presentation of accounts at the BAICE AGM (which takes place annually) and also at each of the Executive Committee Meetings, which take place every quarter. Therefore, there is regular oversight of accounting records and processes by the trustees as well as by members of the Executive as well as all members of BAICE LTD during the AGM.

BAICE LTD does not employ staff. Yet, BAICE LTD pays for the support that is received to be able to achieve the objectives. In particular, BAICE pays for a BAICE Support Officer to keep track of BAICE membership, announcements, and activities. BAICE pays for a COMPARE Editorial Assistant to support with the day to day running of the COMPARE Journal. BAICE also covers an honorarium for the COMPARE Editors for their time and leadership with reviewing the manuscripts submitted for publication in the Journal. Finally, as indicated in our Constitution, BAICE supports an honorarium of £1,000 for the Chair for their role as the Chair of COMPARE Editorial Board (which is indicated in our accounts for transparency), as well as an allocation of maximum £5,000 for the BAICE President to support them with research/preparation of their Keynote Speech which takes place during the BAICE or UKFIET Conferences.

Ultimately, the Trustees ensure that the charity is being run satisfactorily by those delegated to do so, including compliance with Risk Management Policy, Conflict of Interest Policy, Grants Policy, Register of Trustees Interest and Data Protection Policy, all of which have been prepared by our Solicitors and approved by the Board of Trustees, will be reviewed annually, and that the charity is operating for the public benefit.

Section C Objectives and activities

Summary of the objects of the
charity set out in its
governing document
Summary of the main
activities undertaken for the
public benefit in relation to
these objects (include within
this section the statutory
declaration that trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit)		 The main object of BAICE LTD is the advancement of education for the
public benefit in the subject of Comparative and International Education.
The activities to achieve this object follow into four main categories:
(1) Arrange and provide for meetings and conferences on subjects of
general and special interest in the field of Comparative and Inter-
national Education.
During this financial year, we undertook the following activities:
•
Provided support for the BAICE conference 2022 which took
place in Edinburgh in September 2022.
•
We offered support for Honorary members to attend the BAICE
conference and we contributed with a discount for BAICE LTD
members to attend the conference.
•
We covered for the costs of the BAICE President to give the Key-
note Speech which was recorded and disseminated publicly.
•
An online seminar in March 2023 to commemorate International
Women’s Day, co-hosted with the Centre for the Study of Global
Development at The Open University. This was open to the pub-
lic.
(2) Stimulate knowledge and research in the field of comparative and
international education through cross-disciplinary studies, the dis-
semination of research results, the formation of networks, and
support for training schemes.
To stimulate knowledge in the field, we performed the following activities:
•
Student fieldwork grants were awarded to three students in this
period
•
The second part of the network research grant was awarded to
one academic body to connect, showcase and enhance the work
of Syrian education scholars in the diaspora
•
Seed-corn and capacity-building grant was awarded to a team of
academics researching international higher education networks in
Mauritius, and peace and citizenship education in Russia and Bel-
arus.
•
Blog Series are opened to the public via our website
(https://baice.ac.uk/baice-blog/)
•
We continued our podcast series opened to the public via our
website since October 2022.
(3) Provide for the publication of the Journal COMPARE: A Journal of
Comparative and International Education, which enhances
knowledge in the subject.

Our support for COMPARE continues to be:

We are currently supporting and promoting the field of Comparative and International Education via our membership to:

BAICE membership is open to all people working in the field of Comparative and International Education. All publications which are funded by BAICE are in open repositories and public libraries which can be accessible to the general public.

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

Since the registration of BAICE LTD, we completed and adopted our Grants Policy. This document has been fully operational since November 2022 and before the funding grants for BAICE during this financial period.

In addition, we adopted a Risk Management Policy, Conflict of Interest Policy, Register of Trustees Interest which was reviewed and approved by the AGM in September 2022. We have already adopted to the Data Protection Policy.

We do not have any paid employees. All of the activities of BAICE LTD are provided by volunteers who are members of the Executive Committee.

Section D Achievements and performance

Summary of the main

achievements of the charity during the year

With the relaxation of the national and local restrictions deriving from the Covid-19 pandemic, BAICE LTD was able to return to many of its normal activities through the year.

Conferences

Section D Achievements and erformance p

Summary of the main achievements of the charity during the year (cont.)

Section E Financial review

Brief statement of the
charity’s policy on reserves		 The income of BAICE is mainly from royalties (£108,625). We also have
income from membership (subscriptions), which is (£4533). Bank
interest was £1525 and we have another column which indicates “other”.
The “other column” is used to show the underspent refund from recipients
of BAICE grants. Another reason is when researchers move academic
institutions and therefore the funds are transferred back to BAICE from
one institution so that BAICE can re-send to another institution. This is
the case for this year, where two transactions have been reimbursed to
BAICE so that we could send to another institution (£3,955). We are also
considering the income which was generated from the BAICE
Conference which is (£11,409)
Our expenses align with the objectives of BAICE LTD. As indicated in our
Constitution, we have a small honorarium for the Chair of BAICE of
£1,000 per financial year. To support the operations of the COMPARE
Journal we have expenses which amount to £29,016 which are for the
Editorial Assistant, the honoraria for the Editors of the Journal and for
providing the new writers workshops to enhance the quality of
submissions for the Journal. There are also payments for honorary
members totalling £2,936.
To support the running of BAICE as an organisation, we have expenses
for travel and meetings (£1,241), payment to the BAICE support officer
who keeps track of the membership and supports the logistics of
activities (£1,641), payment to the BAICE financial manager to support
the day-to-day financial transactions of BAICE and the financial planning
for the BAICE conference (£15,039).
An important aspect of the public benefit of BAICE is to support students
and early career scholars (and the general public) with dissemination of
events, provision of grants for students, support network grants. The
amount given in BAICE projects was £50,830. It is important to note that
the process for the selection of awards takes place during the previous

financial year, but only allocated during the current financial year. Hence, next year we will have new projects being funded.

Other minor expenses include website and publicity, subscriptions to learned associations, and sundries.

Other management expenses include website and publicity, subscriptions to learned associations, bank charges insurance and sundries. Payments to the BAICE financial manager to support the day-to-day financial transactions of BAICE and the financial planning for the BAICE conference totalled £3,249 for the period. There were also Accountancy fees of £1,620 and Legal fees of £2,828.

As mentioned earlier, BAICE LTD has a system whereby budget is allocated for grants and awards and these are selected during the current financial year, but the commitment of the funds is for the following financial year. This is due to the nature of the awards. One particular award, for instance, is to attend the BAICE or UKFIET Conference which takes place in September of every year. But the award is selected between May and June and informed to the beneficiaries that this is only available during the following financial year. Expenses accrued in relation to grants awarded in the period total £27,381.

Reserves Policy

BAICE LTD has a policy of maintaining a reserve of £100,000 for the running of the charity. The policy is tentatively equivalent to the income that is received in one year from Royalties and if these Royalties were to be suspended, then the organisation will have to reprogramme its activities. While we do not see this as a risk in the near future, the minimum balance policy was established as a precautionary measure.

Details of any funds materially in deficit

Further financial review details

You may choose to include additional information, where relevant about:

Our income comes from:

Section F Other optional information

BAICE LTD has been registered as a Charity in May 2022. BAICE. However, as an Association, BAICE has existed for a number of years. We have always presented accounts independently verified by external accountants. We are therefore providing the Charity Commission with the verified accounts from last year, as BAICE LTD.

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position
Date
Ricardo Sabates Tejendra Pherali
Treasurer Chair
3-3-24
3-3-24

REGISTERED COMPANY NUMBER: 13564154 (England and Wales) REGISTERED CHARITY NUMBER:

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

FOR

BAICE LIMITED

Bentens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden Essex CB10 1AF

BAICE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9 to 10
Notes to the Financial Statements 11 to 14
Detailed Statement of Financial Activities 15 to 16

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 September 2022 to 31 July 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

Page 1

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

OBJECTIVES AND ACTIVITIES

Significant activities

The main object of BAICE LTD is the advancement of education for the public benefit in the subject of Comparative and International Education.

The activities to achieve this object follow into four main categories:

(1) Arrange and provide for meetings and conferences on subjects of general and special interest in the field of Comparative and International Education.

During this financial year, we undertook the following activities:

(2) Stimulate knowledge and research in the field of comparative and international education through cross-disciplinary studies, the dissemination of research results, the formation of networks, and support for training schemes.

To stimulate knowledge in the field, we performed the following activities:

(3) Provide for the publication of the Journal COMPARE: A Journal of Comparative and International Education, which enhances knowledge in the subject.

Our support for COMPARE continues to be:

(4) Provide for the publication of other journals, conference proceedings, and research reports in the field of Comparative and International Education.

We are currently supporting and promoting the field of Comparative and International Education via our membership to:

Page 2

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

BAICE membership is open to all people working in the field of Comparative and International Education. All publications which are funded by BAICE are in open repositories and public libraries which can be accessible to the general public.

Since the registration of BAICE LTD, we completed and adopted our Grants Policy. This document has been fully operational since November 2022 and before the funding grants for BAICE during this financial period.

In addition, we adopted a Risk Management Policy, Conflict of Interest Policy, Register of Trustees Interest which was reviewed and approved by the AGM in September 2022. We have already adopted to the Data Protection Policy.

We do not have any paid employees. All of the activities of BAICE LTD are provided by volunteers who are members of the Executive Committee.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

With the relaxation of the national and local restrictions deriving from the Covid-19 pandemic, BAICE LTD was able to return to many of its normal activities through the period.

Conferences

Provision of Grants and Support

Support for COMPARE Journal

Membership to Similar Organisations

Meetings (Executive Committee Meetings)

While the relaxation of COVID restrictions means that we can return to in-person meetings, we have opted to retain at least two meetings online as this reduces the costs of travel and transportation and enables flexibility for members to meet from diverse locations within the UK and abroad. We held our BAICE strategy day on the 26 May 2023 at the Open University in Milton Keynes.

Page 3

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

FINANCIAL REVIEW

Principal funding sources

Our income comes from:

The income of BAICE LTD is mainly from royalties and sales of £108,625. We also have income from membership (subscriptions), which is £4,533. Bank interest was £1,525. The refund of underspent grants from recipients of BAICE grants has been recognised as part of sponsorship income.The sponsorship income for the period was £3,955.

Expenditure

Our expenses align with the objectives of BAICE LTD. As indicated in our Constitution, we have a small honorarium for the Chair of BAICE of £1,000 per financial year. To support the operations of the COMPARE Journal we have expenses which amount to £29,016 which are for the Editorial Assistant, the honoraria for the Editors of the Journal and for providing the new writers workshops to enhance the quality of submissions for the Journal. There are also payments for Honorary Members totalling £2,936.

To support the running of BAICE as an organisation, we have expenses for travel and meetings of £1,241, payment to the BAICE support officer who keeps track of the membership and supports the logistics of activities of £1,641, conference support costs including payment to the BAICE financial manager to support the day-to-day financial transactions of BAICE and the financial planning for the BAICE conference of £15,039.

An important aspect of the public benefit of BAICE is to support students and early career scholars (and the general public) with dissemination of events, provision of grants for students, support network grants. The amount given in BAICE projects was £50,830. It is important to note that the process for the selection of awards takes place during the previous financial year, but only allocated during the current financial year. Hence, next year we will have new projects being funded.

Other management expenses include website and publicity, subscriptions to learned associations, bank charges insurance and sundries. Payments to the BAICE financial manager to support the day-to-day financial transactions of BAICE and the financial planning for the BAICE conference totalled £3,249 for the period. There were also Accountancy fees of £1,620 and Legal fees of £2,828.

As mentioned earlier, BAICE LTD has a system whereby budget is allocated for grants and awards and these are selected during the current financial year, but the commitment of the funds is for the following financial year. This is due to the nature of the awards. One particular award, for instance, is to attend the BAICE or UKFIET Conference which takes place in September of every year. But the award is selected between May and June and informed to the beneficiaries that this is only available during the following financial year. Expenses accrued in relation to grants awarded in the period total £27,381.

Reserves policy

BAICE LTD has a policy of maintaining a reserve of at least £100,000 for the running of the charity. The policy is tentatively equivalent to the income that is received in one year from Royalties and if these Royalties were to be suspended, then the organisation will have to reprogramme its activities. While we do not see this as a risk in the near future, the minimum balance policy was established as a precautionary measure.

Page 4

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

New Trustees are appointed by members of BAICE LTD during the Annual General Meeting every year.

Organisational structure

The Trustees supported by other members of the Executive Committee support the day-to-day running of BAICE LTD. There are 18 Executive Members, out of whom 10 are currently Trustees. These 18 Executive Members are primarily responsible for BAICE LTD to achieve its objective which is the advancement of education for the public benefit in the subject of Comparative and International Education. All members of the Executive Committee are responsible for the correct application of the various policies and procedures to ensure transparency and equality and minimise any potential risks which may face the organisation.

The financial aspects of BAICE are led by the Treasurer, who is a Trustee, and supported by a Finance Manager, who is hired as a consultant to carry out the operations of BAICE. All operations are overseen and authorised by the Treasurer who follows the procedures set out and approved by the Executive Committee. The Treasurer and the Finance Manager are responsible for keeping accurate accounts of all transactions and for preparing the accounts for the end of year Independent Examination and for presentation of accounts at the BAICE AGM (which takes place annually) and also at each of the Executive Committee Meetings, which take place every quarter. Therefore, there is regular oversight of accounting records and processes by the trustees as well as by members of the Executive as well as all members of BAICE LTD during the AGM.

BAICE LTD does not employ staff. Yet, BAICE LTD pays for the support that is received to be able to achieve the objectives. In particular, BAICE pays for a BAICE Support Officer to keep track of BAICE membership, announcements, and activities. BAICE pays for a COMPARE Editorial Assistant to support with the day to day running of the COMPARE Journal. BAICE also covers an honorarium for the COMPARE Editors for their time and leadership with reviewing the manuscripts submitted for publication in the Journal. Finally, as indicated in our Constitution, BAICE supports an honorarium of £1,000 for the Chair for their role as the Chair of COMPARE Editorial Board (which is indicated in our accounts for transparency), as well as an allocation of maximum £5,000 for the BAICE President to support them with research/preparation of their Keynote Speech which takes place during the BAICE or UKFIET Conferences.

Ultimately, the Trustees ensure that the charity is being run satisfactorily by those designated to do so, including compliance with Risk Management Policy, Conflict of Interest Policy, Grants Policy, Register of Trustees Interest and Data Protection Policy, all of which have been prepared by our Solicitors and approved by the Board of Trustees, will be reviewed annually, and that the charity is operating for the public benefit.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

13564154 (England and Wales)

Registered Charity number

Registered office

1 London Street Reading Berkshire RG1 4PN

Page 5

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Trustees

Dr J J Agbaire DR A S Hemmings-Buckler MS A Hosein Mrs E L Jackson Dr J Li T J Pherali Mrs N Rao Dr R Sabates Aysa Prof M A Schweisfurth (resigned 14.9.22) D A Turner Dr T Welikala

Company Secretary Speafi Secretarial Limited

Independent Examiner

Bentens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden Essex CB10 1AF

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

................................................................. T J Pherali - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BAICE LIMITED

Independent examiner's report to the trustees of Baice Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 September 2022 to 31 July 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Mrs Sarah Warner FCCA The Association of Chartered Certified Accountants

Bentens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden Essex CB10 1AF

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

Page 7

BAICE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
Overheads
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Period
1.9.22
to
31.7.23
Unrestricted
fund
£
113,158
3,955
1,525
-
118,638
111,476
7,162
173,424
180,586		 Period
13.8.21
to
31.8.22
Total
funds
£
96,924
1,712
73
137,446
236,155
62,731
173,424
-
173,424

The notes form part of these financial statements

Page 8

BAICE LIMITED

STATEMENT OF FINANCIAL POSITION 31 JULY 2023

Notes
CURRENT ASSETS
Debtors
6
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
8
Unrestricted funds
TOTAL FUNDS		 2023
Unrestricted
fund
£
17,135
190,832
207,967
(27,381)
180,586
180,586
180,586
180,586
180,586		 2022
Total
funds
£
-
180,997
180,997
(7,573)
173,424
173,424
173,424
173,424
173,424

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 9

BAICE LIMITED

STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

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

T J Pherali - Trustee

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

R Sabates Aysa - Trustee

The notes form part of these financial statements

Page 10

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 11

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

2. OTHER TRADING ACTIVITIES

Period Period
1.9.22 13.8.21
to to
31.7.23 31.8.22
£ £
Sponsorship income 3,955 1,712
3. INVESTMENT INCOME
Period Period
1.9.22 13.8.21
to to
31.7.23 31.8.22
£ £
Deposit account interest 1,525 73

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 July 2023 nor for the period ended 31 August 2022.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 July 2023 nor for the period ended There were no trustees' expenses paid for the period ended 31 July 2023 nor for the period ended
31 August 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 96,924
Other trading activities 1,712
Investment income 73
Other income 137,446
Total 236,155
EXPENDITURE ON
Charitable activities
Overheads 62,731
NET INCOME 173,424

continued...

Page 12

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
TOTAL FUNDS CARRIED
FORWARD 173,424
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 11,409 -
Prepayments and accrued income 5,726 -
17,135 -
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other creditors 26,031 -
Accruals and deferred income 1,350 7,573
27,381 7,573
8. MOVEMENT IN FUNDS
Net
movement At
At 1.9.22 in funds 31.7.23
£ £ £
Unrestricted funds
General fund 173,424 7,162 180,586
TOTAL FUNDS 173,424 7,162 180,586
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 118,638 (111,476) 7,162
TOTAL FUNDS 118,638 (111,476) 7,162

continued...

Page 13

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
236,155
TOTAL FUNDS
236,155		 Net
movement
in funds
£
173,424
173,424
Resources
expended
£
(62,731)
(62,731)		 At
31.8.22
£
173,424
173,424
Movement
in funds
£
173,424
173,424

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 31 July 2023.

Page 14

BAICE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Period
1.9.22
to
31.7.23
£
INCOME AND ENDOWMENTS
Donations and legacies
Royalties and sales
108,625
Subscriptions
4,533
113,158
Other trading activities
Sponsorship income
3,955
Investment income
Deposit account interest
1,525
Other income
Transfer of assets from BAICE
-
Total incoming resources
118,638
EXPENDITURE
Charitable activities
Editor's fees & expenses
12,087
Compare editorial assistance
16,464
New writers workshop
465
Honorary members fees & exps
2,936
Grants
50,830
82,782
Support costs
Management
Insurance
87
Sundry expenses
232
Website management
2,752
BAICE support
1,641
Conference support
15,039
Travel & subsistence
1,241
20,992		 Period
13.8.21
to
31.8.22
£
89,565
7,359
96,924
1,712
73
137,446
236,155
10,482
9,840
3,382
940
19,020
43,664
290
213
1,800
1,208
3,160
1,695
8,366

This page does not form part of the statutory financial statements

Page 15

BAICE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023
Period
1.9.22
to
31.7.23
£
Management
Finance
Bank charges
5
Financial admin fees and exp's
3,249
3,254
Governance costs
Accountancy fees
1,620
Legal fees
2,828
4,448
Total resources expended
111,476
Net income
7,162		 Period
13.8.21
to
31.8.22
£
-
3,621
3,621
1,560
5,520
7,080
62,731
173,424

This page does not form part of the statutory financial statements

Page 16

REGISTERED COMPANY NUMBER: 13564154 (England and Wales) REGISTERED CHARITY NUMBER:

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

FOR

BAICE LIMITED

Bentens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden Essex CB10 1AF

BAICE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Statement of Financial Position 9 to 10
Notes to the Financial Statements 11 to 14
Detailed Statement of Financial Activities 15 to 16

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 September 2022 to 31 July 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

Page 1

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

OBJECTIVES AND ACTIVITIES

Significant activities

The main object of BAICE LTD is the advancement of education for the public benefit in the subject of Comparative and International Education.

The activities to achieve this object follow into four main categories:

(1) Arrange and provide for meetings and conferences on subjects of general and special interest in the field of Comparative and International Education.

During this financial year, we undertook the following activities:

(2) Stimulate knowledge and research in the field of comparative and international education through cross-disciplinary studies, the dissemination of research results, the formation of networks, and support for training schemes.

To stimulate knowledge in the field, we performed the following activities:

(3) Provide for the publication of the Journal COMPARE: A Journal of Comparative and International Education, which enhances knowledge in the subject.

Our support for COMPARE continues to be:

(4) Provide for the publication of other journals, conference proceedings, and research reports in the field of Comparative and International Education.

We are currently supporting and promoting the field of Comparative and International Education via our membership to:

Page 2

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

BAICE membership is open to all people working in the field of Comparative and International Education. All publications which are funded by BAICE are in open repositories and public libraries which can be accessible to the general public.

Since the registration of BAICE LTD, we completed and adopted our Grants Policy. This document has been fully operational since November 2022 and before the funding grants for BAICE during this financial period.

In addition, we adopted a Risk Management Policy, Conflict of Interest Policy, Register of Trustees Interest which was reviewed and approved by the AGM in September 2022. We have already adopted to the Data Protection Policy.

We do not have any paid employees. All of the activities of BAICE LTD are provided by volunteers who are members of the Executive Committee.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

With the relaxation of the national and local restrictions deriving from the Covid-19 pandemic, BAICE LTD was able to return to many of its normal activities through the period.

Conferences

Provision of Grants and Support

Support for COMPARE Journal

Membership to Similar Organisations

Meetings (Executive Committee Meetings)

While the relaxation of COVID restrictions means that we can return to in-person meetings, we have opted to retain at least two meetings online as this reduces the costs of travel and transportation and enables flexibility for members to meet from diverse locations within the UK and abroad. We held our BAICE strategy day on the 26 May 2023 at the Open University in Milton Keynes.

Page 3

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

FINANCIAL REVIEW

Principal funding sources

Our income comes from:

The income of BAICE LTD is mainly from royalties and sales of £108,625. We also have income from membership (subscriptions), which is £4,533. Bank interest was £1,525. The refund of underspent grants from recipients of BAICE grants has been recognised as part of sponsorship income.The sponsorship income for the period was £3,955.

Expenditure

Our expenses align with the objectives of BAICE LTD. As indicated in our Constitution, we have a small honorarium for the Chair of BAICE of £1,000 per financial year. To support the operations of the COMPARE Journal we have expenses which amount to £29,016 which are for the Editorial Assistant, the honoraria for the Editors of the Journal and for providing the new writers workshops to enhance the quality of submissions for the Journal. There are also payments for Honorary Members totalling £2,936.

To support the running of BAICE as an organisation, we have expenses for travel and meetings of £1,241, payment to the BAICE support officer who keeps track of the membership and supports the logistics of activities of £1,641, conference support costs including payment to the BAICE financial manager to support the day-to-day financial transactions of BAICE and the financial planning for the BAICE conference of £15,039.

An important aspect of the public benefit of BAICE is to support students and early career scholars (and the general public) with dissemination of events, provision of grants for students, support network grants. The amount given in BAICE projects was £50,830. It is important to note that the process for the selection of awards takes place during the previous financial year, but only allocated during the current financial year. Hence, next year we will have new projects being funded.

Other management expenses include website and publicity, subscriptions to learned associations, bank charges insurance and sundries. Payments to the BAICE financial manager to support the day-to-day financial transactions of BAICE and the financial planning for the BAICE conference totalled £3,249 for the period. There were also Accountancy fees of £1,620 and Legal fees of £2,828.

As mentioned earlier, BAICE LTD has a system whereby budget is allocated for grants and awards and these are selected during the current financial year, but the commitment of the funds is for the following financial year. This is due to the nature of the awards. One particular award, for instance, is to attend the BAICE or UKFIET Conference which takes place in September of every year. But the award is selected between May and June and informed to the beneficiaries that this is only available during the following financial year. Expenses accrued in relation to grants awarded in the period total £27,381.

Reserves policy

BAICE LTD has a policy of maintaining a reserve of at least £100,000 for the running of the charity. The policy is tentatively equivalent to the income that is received in one year from Royalties and if these Royalties were to be suspended, then the organisation will have to reprogramme its activities. While we do not see this as a risk in the near future, the minimum balance policy was established as a precautionary measure.

Page 4

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

New Trustees are appointed by members of BAICE LTD during the Annual General Meeting every year.

Organisational structure

The Trustees supported by other members of the Executive Committee support the day-to-day running of BAICE LTD. There are 18 Executive Members, out of whom 10 are currently Trustees. These 18 Executive Members are primarily responsible for BAICE LTD to achieve its objective which is the advancement of education for the public benefit in the subject of Comparative and International Education. All members of the Executive Committee are responsible for the correct application of the various policies and procedures to ensure transparency and equality and minimise any potential risks which may face the organisation.

The financial aspects of BAICE are led by the Treasurer, who is a Trustee, and supported by a Finance Manager, who is hired as a consultant to carry out the operations of BAICE. All operations are overseen and authorised by the Treasurer who follows the procedures set out and approved by the Executive Committee. The Treasurer and the Finance Manager are responsible for keeping accurate accounts of all transactions and for preparing the accounts for the end of year Independent Examination and for presentation of accounts at the BAICE AGM (which takes place annually) and also at each of the Executive Committee Meetings, which take place every quarter. Therefore, there is regular oversight of accounting records and processes by the trustees as well as by members of the Executive as well as all members of BAICE LTD during the AGM.

BAICE LTD does not employ staff. Yet, BAICE LTD pays for the support that is received to be able to achieve the objectives. In particular, BAICE pays for a BAICE Support Officer to keep track of BAICE membership, announcements, and activities. BAICE pays for a COMPARE Editorial Assistant to support with the day to day running of the COMPARE Journal. BAICE also covers an honorarium for the COMPARE Editors for their time and leadership with reviewing the manuscripts submitted for publication in the Journal. Finally, as indicated in our Constitution, BAICE supports an honorarium of £1,000 for the Chair for their role as the Chair of COMPARE Editorial Board (which is indicated in our accounts for transparency), as well as an allocation of maximum £5,000 for the BAICE President to support them with research/preparation of their Keynote Speech which takes place during the BAICE or UKFIET Conferences.

Ultimately, the Trustees ensure that the charity is being run satisfactorily by those designated to do so, including compliance with Risk Management Policy, Conflict of Interest Policy, Grants Policy, Register of Trustees Interest and Data Protection Policy, all of which have been prepared by our Solicitors and approved by the Board of Trustees, will be reviewed annually, and that the charity is operating for the public benefit.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

13564154 (England and Wales)

Registered Charity number

Registered office

1 London Street Reading Berkshire RG1 4PN

Page 5

BAICE LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Trustees

Dr J J Agbaire DR A S Hemmings-Buckler MS A Hosein Mrs E L Jackson Dr J Li T J Pherali Mrs N Rao Dr R Sabates Aysa Prof M A Schweisfurth (resigned 14.9.22) D A Turner Dr T Welikala

Company Secretary Speafi Secretarial Limited

Independent Examiner

Bentens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden Essex CB10 1AF

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

................................................................. T J Pherali - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BAICE LIMITED

Independent examiner's report to the trustees of Baice Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 September 2022 to 31 July 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Mrs Sarah Warner FCCA The Association of Chartered Certified Accountants

Bentens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden Essex CB10 1AF

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

Page 7

BAICE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
Overheads
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Period
1.9.22
to
31.7.23
Unrestricted
fund
£
113,158
3,955
1,525
-
118,638
111,476
7,162
173,424
180,586		 Period
13.8.21
to
31.8.22
Total
funds
£
96,924
1,712
73
137,446
236,155
62,731
173,424
-
173,424

The notes form part of these financial statements

Page 8

BAICE LIMITED

STATEMENT OF FINANCIAL POSITION 31 JULY 2023

Notes
CURRENT ASSETS
Debtors
6
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
8
Unrestricted funds
TOTAL FUNDS		 2023
Unrestricted
fund
£
17,135
190,832
207,967
(27,381)
180,586
180,586
180,586
180,586
180,586		 2022
Total
funds
£
-
180,997
180,997
(7,573)
173,424
173,424
173,424
173,424
173,424

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 9

BAICE LIMITED

STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

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

T J Pherali - Trustee

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

R Sabates Aysa - Trustee

The notes form part of these financial statements

Page 10

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 11

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

2. OTHER TRADING ACTIVITIES

Period Period
1.9.22 13.8.21
to to
31.7.23 31.8.22
£ £
Sponsorship income 3,955 1,712
3. INVESTMENT INCOME
Period Period
1.9.22 13.8.21
to to
31.7.23 31.8.22
£ £
Deposit account interest 1,525 73

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 July 2023 nor for the period ended 31 August 2022.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 July 2023 nor for the period ended There were no trustees' expenses paid for the period ended 31 July 2023 nor for the period ended
31 August 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 96,924
Other trading activities 1,712
Investment income 73
Other income 137,446
Total 236,155
EXPENDITURE ON
Charitable activities
Overheads 62,731
NET INCOME 173,424

continued...

Page 12

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
TOTAL FUNDS CARRIED
FORWARD 173,424
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 11,409 -
Prepayments and accrued income 5,726 -
17,135 -
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other creditors 26,031 -
Accruals and deferred income 1,350 7,573
27,381 7,573
8. MOVEMENT IN FUNDS
Net
movement At
At 1.9.22 in funds 31.7.23
£ £ £
Unrestricted funds
General fund 173,424 7,162 180,586
TOTAL FUNDS 173,424 7,162 180,586
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 118,638 (111,476) 7,162
TOTAL FUNDS 118,638 (111,476) 7,162

continued...

Page 13

BAICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
236,155
TOTAL FUNDS
236,155		 Net
movement
in funds
£
173,424
173,424
Resources
expended
£
(62,731)
(62,731)		 At
31.8.22
£
173,424
173,424
Movement
in funds
£
173,424
173,424

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 31 July 2023.

Page 14

BAICE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

Period
1.9.22
to
31.7.23
£
INCOME AND ENDOWMENTS
Donations and legacies
Royalties and sales
108,625
Subscriptions
4,533
113,158
Other trading activities
Sponsorship income
3,955
Investment income
Deposit account interest
1,525
Other income
Transfer of assets from BAICE
-
Total incoming resources
118,638
EXPENDITURE
Charitable activities
Editor's fees & expenses
12,087
Compare editorial assistance
16,464
New writers workshop
465
Honorary members fees & exps
2,936
Grants
50,830
82,782
Support costs
Management
Insurance
87
Sundry expenses
232
Website management
2,752
BAICE support
1,641
Conference support
15,039
Travel & subsistence
1,241
20,992		 Period
13.8.21
to
31.8.22
£
89,565
7,359
96,924
1,712
73
137,446
236,155
10,482
9,840
3,382
940
19,020
43,664
290
213
1,800
1,208
3,160
1,695
8,366

This page does not form part of the statutory financial statements

Page 15

BAICE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 JULY 2023
Period
1.9.22
to
31.7.23
£
Management
Finance
Bank charges
5
Financial admin fees and exp's
3,249
3,254
Governance costs
Accountancy fees
1,620
Legal fees
2,828
4,448
Total resources expended
111,476
Net income
7,162		 Period
13.8.21
to
31.8.22
£
-
3,621
3,621
1,560
5,520
7,080
62,731
173,424

This page does not form part of the statutory financial statements

Page 16