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2024-07-31-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 2023 **31st ** July 2024

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

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		 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
Anesa Hosein
Surya PratapDeka Since May2024
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 Charitable Incorporated Organisation (eg. trust, association, company)

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

Objectives and activities
The main object of BAICE LTD is the advancement of education for the
public benefit in the subject of Comparative and International Education.
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 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 UKFIET conference 2023 which took
place in Oxford in September 2023.
•
We offered support for Honorary members to attend the confer-
ence 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.
(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 network research grant was awarded to the University of
Brighton to developing new networks and research capacity from
the legacy of a longstanding international higher education part-
nership
•
Two seed-corn grant were awarded. The first to a team of UK
based academics researching peace and citizenship education in
Belarus and Rusia and the second to another team of UK based
academics working on translating UNESCO’s agenda for fair ac-
cess to HE into national and institutional internationalisation strat-
egies
•
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:
•
Covering the cost of the COMPARE Editorial Assistant
•
Covering for the honoraria of 4 COMPARE Editors

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.

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 Conferences achievements of the charity • Supported the planning and delivery of UKFIET conference that during the year took place in Sep 2023 • Played a crucial role in organising the BAICE conference for Sep 2024 at the University of Sussex • BAICE president delivered presidential address at the UKFIET conference • BAICE members had a significant presence at the CIES conference (March 2024) Provision of Grants and Support • Awarded seedcorn grants, student fieldwork grants and conference bursaries for doctoral students and early career researchers Supporting for COMPARE Journal • Compare Fellows from Uganda selected and visited UK institutions for professional development and collaborations • The composition of Editorial Board internationalised with appointment of three members of the board from outside the UK Membership to Similar Organisations • Academy of Social Sciences. • UKFIET (The UK Education and Development Forum) • World Congress of Comparative and International Education Meetings (Executive Committee Meetings) • We have opted to retain at least two meetings on-line as this reduces the costs of travel and transportation and enables flexibility for members to meet from diverse locations within the UK and abroad.

Section D Achievements and erformance p

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

Section E Financial review

The income of BAICE is mainly from royalties (£102,200). We also have Brief statement of the income from membership (subscriptions), which is (£8,673). Bank charity’s policy on reserves interest was £4,155. We also have sponsorship income for our Conference which was (£5,525) 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 £27,628 which are for the Editorial Assistant, the honoraria for the Editors of the Journal and for providing the new writers workshops (£4,010) to enhance the quality of submissions for the Journal. There were no payments for honorary fellows this year. To support the running of BAICE as an organisation, we have expenses for travel and meetings (£2,067), payment to the BAICE support officer who keeps track of the membership and supports the logistics of activities (£2,068), payment to the BAICE financial manager to support the day-to-day financial transactions of BAICE and the financial planning for the BAICE conference (£15,424). 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 £26,957. 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 £2,533 for the period. There were also Accountancy fees of £1,752 and Legal fees of £1,393.

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 £22,327.

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

BAICE LTD DETAILED STATE.MEiYf OF FINAf4CIAL ACTIVITIES FOR'I'IIE YEAR ENDED 31 JLLY 2024 Period 1.9.22 Year Ended 31.7.24 ¢0 31.7.23 INCOME AND ENDOWMLNTS Donations and leg&cies RuydliiLS Sub5CriPtions 102.2 8.673 IU¥,02) 4,533 110,873 Other tr&dlnE actlvltles Sponsorship inLome 5,525 3.955 Invesim¢nt Income Dcpos11 accoutll iiiicrlsi 4,153 1,525 TotAI Ineomlng re50urceg 120,553 118.638 F.XPF.NDITURTr: Lh#rliabl¢ acilvltles F.dilÉ)1'5 fee5 & cxpcnscs Compare ¢diiorial assistsnc N¢w wrii¢rs work3hop Honordry members fees & exps Gran¢s 12,250 15.432 4,010 12,087 16,464 405 7.936 50,830 26.957 58,649 82.782 Support costs ManaR¢rneni Insurance Sundry expenses W¢bsitc marta8emenl BAICE support ConfeTcnce support Subscriptions Travel & sub5LStence 355 87 2,102 2.lJ68 IS.424 696 2.067 87 2J2 2,752 1,641 15,039 1,241 22.799 20,992 inance Rank chRrge Carricd forward This pagedoes no¢ fornj part of the SERWtory financial statements Pagc 15

BAICE LTD DETAILED STATF.IIENT OF FINANCI,11. ACTII'ITIES F()R TEIE I'LAR ENDF-D 31 JLLY 2024 Period 1.9.22 Year Ended 31.7.24 31.7.23 Flnance Brought fojward l.'inan¢ial athnin fees and exp's 2.533 3,249 2,648 3,254 Governance c051J A¢¢ouniancy lecs L¢gal fccJ ,752 1,3Q3 1.620 3,145 4,448 Total resources expcndcd 87,241 Net Income 33,312 7,162 Thi5 PA￿ fornj PArt ofth¢ fltwjc￿I ststrmen Page 16

REGISTERED COMPANY Ni4LIIBF.R: 13564154 {England and Il'ale51 REGISTERED CHARITY NUI¥IBER: 1198916 UNAL'DITED FINANCIAI. STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 FOR BAICE LTD Beniens Chartered Certified Accountants Abbey House 51 High Street Saffron Walden F.5SCX CBIO IAF

BAICE LTD coiYrF.NTS OF THF. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JbLY 2024 Pa8e Report of tbe Trustees Independent ExamÈner's Report Statement of Financial Act]￿tieS Statement ol Financial Positio 9 to 10 Notes to the Financial Statements Detailed Statement of Financial Activities 15 10 16

BAICE LTD RF.PORT OFTHE TRLSTEES FOR THE YEAR ENDED 31 JbLY 2024 The tnLStees who are also dir¢etors of th¢ chariry for the Purpos￿ of the Companies Aci 2006, present th¢ir report with thc financial statements of ihe charity for the y¢ar ended 31 July 2024. The In￿t¢eS have adopied thc provisions of Accounting and Reporting by Chariiies.. Sthtcmeni of Recommcndcd Pracric¢ 2pplicabl¢ to harities pr¢panng thcir accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Pag¢ I

BAICE LTD REPORT OF THE TRLSTEES FOR THF. YEAR ENDED 31 JLLY 2024 OWF,CTIVES AND ACTIVITIES Significant a¢￿￿tieS Thc main objeci of BAICF. LTD is the advancement of education for the public benefii in the Subj￿1 of Compardiive and Intemaiional F.ducation. The activilies to achieve this objeci follow into four main calegories.. I l) Arrange and provide for me￿Ing5 and conferences on subjects of general and special inierest in the field of Comparative and Intcmational Education. During this financial year. wc undertook the following actiN'ilies.' - Provided support for the UKFIF.T conference 2023 which t￿k place in Oxford in September 2023. We offered supw>rt for Honorary mcttlbets io aitend ihe conference and ￿e contributed with a discouni for BAICF. LTD members io attcnd the conference. - Wc covered for the costs of the BAICE Presideni to giv¢ the Keynote Speech which recorded and disseminaied publicly. {21 Stimulatc knowledge and research in the field of compardtive ond international education through cross-disciplinary studies. thc dissemination of research rcsults. the forn￿110n of networks, and support for training schemes. To stimulat¢ knowledge in ihe ficl(L w¢ p¢rfoTmed the following aciivitiC5- - Student fieldwork grants ￿'¢re awarded io three siudents in lhis p¢riod - The network rcsearch grani was awardcd to thc Universiiy of Brighion to dci'eloping new networks and research capacity from the legacy of a longstsnding iniernaiional high¢r education partnership. - Two seed-corn grants were awarded. Th¢ r￿St to a team of UK based academi¢s rc5earching peace and ciiizenship education in Belarus and Russia and the sttond to anoiher ieam of UK based academics working on translating UNESCO'S agenda for fair access to RIE inio naiional and institutional intern2tionalisaiion straiegies. Blog Series are opened io the public via our website (https".lthaice.ac.uklbaice-blo&fj We continued our podcast series opened io thc public via our website sÉnee 0clot￿r 2022. {3) Provide for th¢ publication of the Journal COMPARE.. A Journal of Comparative and International Education. which enhances knowledg¢ in the subject. Our support for COMPARE etsniinues to Ix". - Covering the cost of (he COMPARE Editorial A55i5tant - Covering for the honoraria 014 COMPARE Editors - Supported the Compare Fellow iniiiaiive led by the Journal's editoriai board Supponing and facilitating COMPARE initiativcs. athninistraiive and governance issues including, appointmcnts of new editors and members of ihe editorial Erfwd. (4) Provide for th¢ publi¢ation of other journals, conference proceedings. and research reports in the field of Compardiive and Inlemational Education. We are cu￿entlY 5UPPOrting and promoting the field of Comparative and International Education via our membership io". - Academy of Social S¢ienffs (ACSS) - World Council for Comparativ¢ Education Studi - We have also nominated members of BAICE as members of the Academy of Social Sciences and repon thai two members have been duly elected as the ACSS Fellow5. Pagc 2

BAICE LTD REPORT OFTHE TRLSTEES FOR THE YEAR ENDED 31 JULY 2024 - Members of BAJCE eoniinue to ¢n¥age in r￿¢￿[Ch which can be publishd in any oth¢r journal IT) the field and attend other regional, national and international conferences which are relevaDt to the field. BAICE membership 15 opcn to all people working in the field of Compardiive and International Education. All publications which are lunded by BAICE arc in open repositories and public librarics which can b¢ accessible to the gen¢ral public. Since the registration of BAICE LTD. we cotnpleied and adopted our Grants Policy. This document h&$ been fully operaiionai since Novemb¢r 2022 and ￿rore the funding grants lor BAICE during this financial period. We do not have any paid employees. All of the aciivities of BAICE LTD are provided by voluntecrs who are members ofth¢ Executive Committcc. ACHIEVEMENT AND PERFORMANCE Charitable act]￿tieS Conference5 - Supported ihe planning and delivery of UKFIET conferenc¢ thai i(xik place in Scp 2023 - Played a crucial role in organi5ing th¢ BAICE ¢onference for September 2024 at the University of 5U55ex. - BAICE pr¢5id¢nt dcliverd presidential address ai the UKFIET conference - BAICE members had a significant presence ai the CIES conference (March 2024) Provision of Cwrants and Support - Awarded seedcom grdnis, siudeni fieldwork grdnts and conference bursaries for dociornl students and early areer researchers Support for COMPARE Journal Comparc Fellows from Uganda selected and visited UK In￿l￿110n5 for prolessional development and collaborations - The composiiion of Editorial Board int¢rnationalised with appointsneni ofthree Membe￿ of th¢ b)ard from outside th¢ UK Membersblp to Similar Organi5atioDS Academy ofsocial Scien¢¢5. - UKFIET (Th¢ UK Educaiion and Developmeni Forum) World Congress of Comparaiiv¢ and Iniernaiional Education Meetings (Executive Committee Meetings) W¢ have opted io relain at Icasi i￿0 meetings on-line as ihis reduces the costs of travel and transportation and enables fl¢xibility for members to mcei from diverse loraiions within the UK and abroad. FINANCIAL REVIEW Principal funding sources Our income comes fTQm'. - Royalties generdied froTn the COMPARE jOUTnal (approximaiely 85 /0 of income). - Membership to BAICE (approximately 70/0 of income). Interesi rates frorn Bank Account lapproximalcly 3 % of incomc). - In¢ome from other activit1¢5 including sponsotship income (approximately 51J/o of income) The incotnc of BAICE LTD is mainly from royalti¢s and sales of £102,200. We also have income from membership (subscriptions). which is £8.673. Bank intwcst wa5 £4.155. W¢ also have sponsorship income for our conference which was1£5.525). Page 3

BAICE LTD REPORT OF TIIE TRLSTTr.ES OR TIIF. YEAR ENDED 31 JLLY 2024 FINANCIAL REVIF.W LxpeDditure Our expenses align with thc objectives of BAICE LTD. As indicatcd in our Constitulion. w'e have a small honorarium for (he Chair of BAICE of £l,IKK) per fmancial ycar. To support the operations of thc COMPARE Journal we have ¢X￿n$eS which amouni 10 £27,628 which are for ihe Lditorial Assistant and the honoraria for th¢ Editors olth¢ Journal and for providing thc new wriiers workshops (£4,010) to enhanc¢ the quality of submissiotLS for the Journal.Thffe were no payments for honorary fellows This year. To support the running of BAICE as an org8ni5aiion. we have expenses for travel and mc¢tings (£2,067), payment to the 13AICE 5uppon officer who keeps trdck of ihe mcmlKTship and supports the logislics or aciiviiics {£2,0681. payttlenl to ihe BAICE financial tnanager 10 SUPPOrt the day-ifrday financial transactions of BAICE and thc financial planning lor the BAICE conference l£15,4241. An imponani a5￿Cl of the public bcnefii of BAICE is to supp)n siudents and early carcer scholars (and the general public) with dissemination ol ¢vents. provision of grants for siudcnts. suppon netsvoTk grants. The amouni giv¢n in BAICE projects was £26.957. It is imtM)rtant to note ihai the process for ihe selc¢tion or awar(ts takes place during the previous financial year. but only allocaied during ihe cu￿ent finaneial year. Hence, next y¢ar we will have new projects being fi]nded. Other management expenses include websile and publiciry. Sub￿riPtiOnS io leamcd associations. bank charges, insurdncc and sundries. Paytnents io the BAICE fmancial managcr to stsp￿)rt the day-t041ay rinancial iransactions of BAICE and the financial planning for the BAICE COnfe￿nCe iothlled £2,533 for the period. There were also Accountancy lees of £1.752 and Legal fccs of £1,393. A5 mcntioned earlier, BAICE LTD ha5 a system whereby budgct is allocated for grants and awards and thcsc are selected during the current financial year. but thc cowtltniimeni of the fi￿d5 is for ihe following financial year. This is due io ihe nature of the awards. One particular awar& for itLStance. is io aTTend th¢ BAICE or UKFIET Conference which takcs place in Sepiembcr of cvery year. Bul the award 15 selected betwe¢n May and June and informed to the beneficiaries thai thi's is only available during ihe following financial year. Expenses accTu¢d in relaiion to grants awarded in the pcri(Ki total £22.327. Reserves policy BAICE LTD has a policy of maintaining a reserve of at lelst £IIM).01)O for the running of ihe charity. Th¢ policy is t¢ntatively equivalent to the income ihai is receivcd one year from Royaltics and if these Royalties were to be suspend¢l then the organisation will have io reprogrdmme its activities. While we do not see this as a risk in the near futur¢, the minimum balance policy wL8 established as a prcckutionary measure. STRUCTURE, GOVERNANCE AND MAl¥ttlGLMLNT Governing document Th¢ charity is conirolled by its governing documenL a de￿ of trust, and cotLStitutes a litnit¢d company, limiied by guarantee. Lg defined by the Companies Act 21KI6. Recruitment 4nd #ppolntment of new trustees New Trust¢es are appoinied by memb¢rs of BAICE LTD during the Annual G¢n¢rdl Mttiing every year. Page 4

BAICE LTD RF.PORT OF THE TRLSTLES OR TIIE YEAR ENDED 31 JLLY 2024 STRUCTURE. GOVERNANCE AND MANAGEMENr Organisational structure The Trustees supw>rted by other members of the Execulive Committe¢ support th¢ day-104ay running of BAICE LTD. There arc 18 Executive Member5, Out of whom 10 are cuttcntly Trusiees. These 18 F.xecutive Members are primarily rc5ponsible for BAICE LTD io achiev¢ its objeciive which is the advancement of education for the public benefit in the subject of Compatative and International Lducation. All member5 of thc Executive Committee are re5Frf)nsible for the correct applicaiion of the variO￿s policies and pro¢edwes to ensure transparency equality and minimise any poieniial risks which may facc the organtsation. The fjnaneial aspects of BAICE are led by the Tr￿Ur¢r. who is a Trustee. and supported by a finance Manager. who is hired as a consultsnt to cary oui th¢ operdiions of BAICE. All operations are ovcrseen and authorised by the Tre&8ur¢r who follows thc prthydures SCT out and approved by th¢ Exccutive Cottunittee. The Treasurer and thc Finance Manager are responsible for ke￿1￿8 accurat¢ accounts ofall transactions 2nd for preparing the ac¢ounts for the end of year Indepcndeni Examinaiion and for prcscntaiion of accounts at the BAICE AGM (which tak¢5 place annually) and also at ￿ch olihe Ex¢¢utive Committ¢¢ Meeiings. which take plac¢ every quarter. Therefore, thcrc 15 regular over5ighi of accounting records and priKesse5 by the trustees &$ well as by memb¢T5 ofthe Executiyc as well &$ all members of BAJCE LTD during the AGM. BAICE LTD does not employ stsff. Y¢t, BAICE LTD pays for the suppon ihai is received to be able to a¢hieve the objectii'es. In particular, BAICE pays for a BAICE Supwrt OtTLcer lo keep traek of BAIC membership, announcements, and aciivitL¢S. BAICE pay5 for a COMPARE FAiiorial A￿lSta￿l to support with the day to day running of the COMPARE Joumal. BAICE also cov¢rs an honorarium for the COMPARE Ediiors for their time and ICade￿hIp with rcviewing the manuscripts submittcd for publication in the Journal. Finally. as indicated in our Constitution. BAICE supports an honorarium of £1,{￿ for the Chair for their role as the Chair of COMPARE Editorial Board (which is indicated in our accounts for tran5parencyl, as well as an ailo¢ation of m&ximutn £5.(m for th¢ BAICE Presid¢nt to 5uppon them with rc5earclVpreparation of their Keynot¢ Speech which tAkcs place during thc BAICE or UKFIF.T Conferenc¢s. Ultimaiely. the Trusiees ensure thai the charity is ￿Ing tun satlsfartorily by those de5iw)ated 10 do 50, including compliance with Risk Mana¥em¢nt Policy. Confli¢T of Inierest Policy, Grants Policy, Regisier or Trusiees Intercsl and Daia Prot¢ction Policy. ail of which have be¢n prepared by our Soliciiors and 2pprovcd by the Board of Trustces. will be r¢vi¢wed annually, and thai the charity is opcraiing for th¢ public benefit. RF.FERENCE AND ADNiIf41STRATIVE DETAILS Registered Company number 13564154 (England and Wales) Registered Charity number 198916 Registered otrice l London Sireei Reading Berkshire RGI 4PN Page 5

BAICE LTD RF.PORI' OF TFIE TRLSTF.F.S FOR I'11Tr. I'L,IR EINDtr-D 31 JLI.Y 2024 Trustees Dr J J A¥bair¢ Dr A S Hctnmings-Buckier Dr A Hosein Dr E L Jackson DrJLi Professor T J Phcrdli Professor N Rao Professor R Sabates Aysa Prolessor D A Turner Dr T Welikala S P Deka (appointed 14.6.24) Companv Secretan. Spcafj Secretarial Litnited Indcpendent Ex4miner B¢ntens Chanered Certified Aceountants Abbey Hou5¢ 51 High Street SatTron Walden Essex CBIO IAF Approved by order of thc boord of ts￿sleeS on 4 March 2025 and signed on its behalf by.. Professor T J Pherali- Trnstee Pa8e 6

IIYDEPENDEiYf EXAMI.N'F.R'S RF.PORT TO THE TRL'STEES OF BAICE LTD Independent examiner's report to the tTU5tees of BAICE LTD {'the Company.) I re￿rt io ihe chariiy ttusiees on my ¢xaEninalion of the accounts of the Company for the year ended 31 July 2024. Responsibilities and basls of report As ihe charity's Iruslees of ih¢ Company land also its direaors for ihe purposes of company law) you arc responsible for ihe preparation of the accounts in accordancc with the requirements of the Companies A¢t 21Kb61'the 2006 Aci'l. Having Satisfied mys¢lf that the accounts ofthe Company are not required to b¢ audit¢d undcr Part 16 of the 2006 Act and are eligible for independent examination, J report in respect of my examination of your ¢harity's accounts as carried out under Seciion 145 of thc Char]"ti¢s Act 2011 { the 2011 Act'l. In carrying out my examination I hkve follow¢d the Directions given by the Charity Commission uDdcr Section 14515) {bl of th¢ 2011 Act. Independent examiner's Statement I have compleied my examination. l eonfirtn that no matters have con)e to my attention in ¢onnection with the ex2rnination giving mc cause to believe-. accoun(ing records w¢r¢ noi kcpl in respect of the Compatly as r¢quired by Section 386 of the 2006 Act; or the accounts do not accord with those records. or the accounts do not Cotnply w'ith the accouniing requirements of Section 396 of rhc 2006 Act o(her than any requirement that th¢ accounts give a tsue and fatr view which is noi a mailer considered as part of an independeni examination- or the accounts hav¢ not been prepared in accordance with thc methods and principles of the Staternent of Recommended Practice for accounting and reponing by charities {applicablc to charities preparing their accounts in accordance with the Financial R¢porting SL￿dard applicable in the UK and R¢publi¢ of Ireland (FRS 102)). I have no concerns and have ¢om¢ across no other maiiets in cowi¢ction with the examinaiion io whi¢h aitention should be drawn in this rew>rt in order to enable a proper understsnding of the accounts to be reached. Mrs Sarah Warner FCCA Thc Association of Chanered Certified Accounlants Bentens Chartered Certified Accountants Abbey Flouse 51 High Street Saffron Walden Essex CBIO IAF 4 March 2025 Pa8e 7

BAICF. LTD STATEIILP41' OF FINA.NCIAL ACTII'ITIES FOR THE YEAR ENDED 31 JLLI. 2024 Period 1.9.22 Year Ended 31.7.24 Unresrrictcd fi]nd io 31.7.23 To￿1 fi]nds Notes INCOMF. AND ENDOWMENTS FROM Donations and legacie5 110.873 113,158 Other trading activities Investment incom¢ 5.525 4,155 3,955 1,525 Total 120.553 118,638 F.XPENDITLRE ON Charitable acti￿ticS Overheads 87,241 111,476 NET INCOME 33.312 7.162 RECONCILIATION OF FUNDS Total fi]nds brought forward 180,586 173,424 TOTAI. FUNDS CARRIED FORWARD 213,898 180,586 Thc n(Aes fonn part of these financial wtemwts Page 8

BAICE LTD STATEMF.iYr OF FINAf*CIAL POSITION 31 JLLI, 2024 2024 2023 Unr¢stnctcd fund Total funds Notes CURREprr ASSE'I'S Debiors Cash at bank 7.449 230,283 17,135 190.832 237,732 207.967 CRLDITORS Amounts falling due within onc year (23,834) (27,381 } NET CLRRENT ASSETS 213,898 180,586 TOTAL ASSETS LF.SS CURRENT LIABJLI'riLs 213.898 180,586 NET ASSETS 213,898 180,586 FLTNDS Unrestricted funds 213.898 180,586 TOTAL FUNDS 213.898 180,586 The charitable company is entitl￿ to exemption from audit under Section 477 01 the Companies Act 2006 for the year ended 31 July 2024. The memb¢r5 have not required th¢ company to obtsin an audil of its f￿￿1¢la1 statanents for the year end¢d 31 July 2024 in accordance with Seclion 476 ofthe Companies Aci 2(M)6. Th¢ tru5tces acknowledge th¢ir rc5ponsibiliiies for {al ensuring thaT the chariiable company kccps accouniing r¢cords ihal comply with Se¢tion5 386 and 387 of the Companies Act 2006 and (b) preparing financial S￿leMentS which give a true and fair view of the siaie of affairs of the charitable ¢ompany as ai ihe end of ¢ach financial year and of its surplus or deficit for each f￿ancIal year in accordancc with ihe requirements of Scciions 394 and 395 and which otherwise comply with the requiremenis of th¢ Companies Aci 2006 relatillg to financial sthtements, w far as applicable to the charitable company. The nO￿S fortn part of financial ststeThents Page 9 coniinued...

BAICE LTD STATEIMENT OTr Tr"INANCIAL POSITION- continufd 31 JLLY 2024 These financial statements have bcen prepared in accordance with the provisions applicabl¢ to chan'iable companies 5ubj¢ct to the small companie5 r¢gune. Thc fiDancial siaiements wer¢ approved by the Board of Tn￿eeS and authorised for issue on 4 Mar¢h 2025 and were signed on its b¢half by.. T J Pherdli - Trustee cardo SWl¢S R Sabat¢s Aysa- Trustee The notes forni Fmrt of thcse financial Maiements Page 10

BAICE LTD NOTES TO THF. FINANCIAL STATEIMENTS FOR'fiiE YEAR ENDED 31 JLLY 2024 ACCOUNTING POLICIES Bssis of preparing the financial statements The financial statements of the charithbl¢ company, which is a public ben¢fit entity under FRS 102. hav¢ been preparcd in accordancc with the Charitics SORP (FRS 102) 'Accounting and Reponing by Charities.. Statctneni of Recotnmended Practic¢ applicable to charilies preparing their accounts i accordatlce wilh th¢ Financial Reporting Standard applicable in the UK and Republic of Jr¢land IFRS 1021 (effective l January 2019),, Financial Rcporting Standard 102 The Financial Rq)orting Standard applicable in thc UK and Republic of Ireland, and thc Companies Act 21K>6. The financial statements have been prcpar¢d under the hislorical cosi convention. Income All income 15 rccognised in ihe Statettleni of Financial ACti￿lIeS once thc ehariiy has eniitletneni to Ihe fun(ts, it is probable that th¢ income will bc ￿¢¢Ived and ihe amount ¢an be measurcd reliably. Expenditure Liabilitics arc recognised as expcnditure Is soon as there is a legal or con5tructiv¢ obligation commilling ihe charity to that expendiNre. li 15 probable (hat a irdnsfer of cconomic benefits will bc required in scttlemeni and the amounl of (he obligaiion can bc mcasuTed reliably. Expenditur¢ is accounted for on an acctuals basis and has ￿eft classified und¢r hcadinus ihai aggregatc all Cost related to ¢he caicgory. Where costs cannot be direcily attributed to panicular headings they have been alliKated io aciivities a b&sis consisieni with ihe use of rcsouw¢s. Grants offered subject to conditions whi¢h have noi been met at ihe ycar cnd date are noied as a commitmeni but not accTu¢d &$ cxpendiiure. Taxation The charity is cxcmpt from wq)oration ￿ on its clwitablc activitiC5. FuDd #¢¢ounting Unrestricted funds can bc used in accordance with the charitsble objectives ai thc discrction of the trustees. Restrict￿ funds can only be used for particular restyicted PUTPo￿5 within the objects of the charity. Restrictions arise when 5pccificd by the donor or when funds are rdised for particular r¢stri¢ted purposes. Further ¢xplanation of the nawre and purFrf)5e of each fund is includd in the notes to the financial sthtements. Pagell conlinucd...

BAICE LTD r40TES TO TIIE F1Tr4ANCIAI. STATEMENTS- continued FOR THL YEAR E￿DED 31 JLLY 2024 OTHER T]L4DING ACTIVITIES Period 1.9.22 Year End 31.7.24 io 31.7.23 Sponsorship income 5.525 3,955 INVESTMEiYf INCOME Period Year End¢d 31.7.24 (o 31.7.23 Dew)sit account interest 4.155 1.525 TRUSI'EES, RF.MUNERATION AND BENEFITS There were no tntsiees, remuneration or other benefits for the year ended 31 July 2024 nor for the nod ended 3 1 July 2023. Trustees, expenses There were no rrnstees, exFnses paid for the ycar ended 31 July 2024 nor for ihe pertimj ended 31 July 2023. COMPARATIVES FOR THE STATEIMENf OF FINANCIAL AcfiviTIES Unrestricted fund JNCOIMF. AND ENDOWMENfs FRO,M Donations and legacies 13.158 Other trading activities Invesimeni income 3.955 1,525 Tot31 118.638 EXPENDITURE ON Chgritable activities Overheads 111.476 NET INCOME 7.162 RECONCILIATION OF FLNDS Total funds brought fonvard 173,424 Pagc 12 continued...

BAICE LTD NOTES TO THE FINANCIAL STATEMENfs- contiDued FOR THE YEAR ENDED 31 JLI.Y 2024 COMPARATIVF.S FOR THE STATEMENf OF Fif4ANCIAL ACTIITITIES - CODtinu Lnrestriacd fund TOTAL FUNDS CARRIED FORWARD 180,586 DEBTORS: AMOLNTS FALLING DLTE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments and accrucd iD¢ome 11,409 5.726 7,449 7.449 17,135 CREDITOR.4: AMouNfs Tr ALLING DLE WITHIIY ONE YEAR 2024 2023 Other creditors Accruals and deferred income 22.142 .692 26,031 1.350 23.834 27,381 I¥IOVEMF.NT IN FLTNDS Nrf movement in fvn(Ls At 31.7.24 At 1.8.23 Unrestricted funds Genernl fund 180,586 33,312 213,898 TOTAL FLNDS 180,586 33,312 213,898 Net movemeni in funds, included in the abov¢ ar¢ a5 follows: I￿)ming Resources expend Movement in funds Unrestrirted funds General fund 120,553 (87,241) 33,312 TOTAL FUNDS 120.553 (87,241) 33.312 Page 13 continued...

BAICE LTD r40TES TO THE b l.NLlh'CIAL STATEIIF.iYrs- contlnued Tr"OR TFIF. I'EAR E￿DED 31 JLLY 2024 MOVEMENT IN FUNDS- continued Comparatives for movement ID fuDds 'et mol'ement in fun(ts At 31.7.23 At 1.9.22 Unrestrieted funds Generdl fund 173,424 7,162 180,586 TOTAL bUNDS 173,424 7,162 180,586 Compardtive net movement in fimds. included in the above are ls follows: Incoming resourtes expertded Movemeni in fund5 Unrestricted funds Generdl fund 118,638 {111.476) 7.162 TOTAL FLNDS 118.638 (111,4761 7,162 RELATED PARTY DISCLOSLRES Th¢￿ wcrc no rclatcd party trdnsaciioThs lor the year ended 31 July 2024. Pag¢ 14

BAICE LTD DETAILED STATE}IEP￿ OF FINANCIAL AcfiviTIES FOR THE YEIIR ENDED 31 JLLY 2024 PeriiKI 1.9.22 Ycar Fndcd 31.7.24 io 31.7.23 INCOME AND ENDOWMEiYrs Donatlons and legacies Royalties and sales Subseriptions 102.200 8,673 108.625 4.533 110.873 113,158 Other tradlng activities Sponsorship income 5.525 3,955 Investment income rjeposii account int¢r¢st 4.155 1,525 Total iDcomln2 resources 120,553 118.638 EXPENDITURE Charitable activities Editor's fee5 & expenses Compare editorial wi5tance New writ¢rs workshop Honordry members fees & exps Grants 12,250 15.432 4.010 12,087 16,464 465 2,936 50.830 26,957 58.649 82.782 Support Costs Management Insurancc Sundry expenscs W¢bsitc managemeni BAICE support Conference support Subscriptions Trav¢l & subsistence 355 87 2,102 2.068 15,424 696 2.067 87 232 2,752 1,641 15,039 1,241 22.799 20.992 Finance Bank charges Carricd fon¥ard 115 This pagc d￿S noi fonn pan of the fiTwKial sta*ments Pag¢ 15

BAICE LTD DETAILED STATEMENT OTr FINAIICIAL ACTIIIITIES FOR TIIE YEAR ENDF.D 31 JLLY 2024 Period 1.9.22 io Year En(kd 31.7.24 31.7.23 Finance FlrouLyht fO￿ard Financial admin f¢¢s and exp's 115 2,533 3,249 2.648 3,254 Governance costs Accountancy f¢es Legal fees 1.752 1.393 1,620 2,828 3,145 4,448 Totsl resources expendcd 87,241 111,476 Net income 33,312 7.162 This pagc not forni part of the statuiory r]n3ncial sta*mcnts Page 16