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2024-12-31-accounts

Charity registration number 1205601 (England and Wales)

BIOMETRIKA TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

BIOMETRIKA TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Prof. V Isham
Prof. P Diggle
Sir P Donnelly
Prof. P Green
Dr R Galbraith
Prof. T Fearn
Prof. S Lauritzen
Prof. S Richardson
Mr M Lamaison
Prof. A Davison
Mr R Wang
Prof. J Oakley
Prof. D Farewell
Prof. J Rousseau
Prof. R King
Prof. O Henderson
Charity number (England and Wales) 1205601
Principal address School of Mathematical and Physical Sciences
Hicks Building, K27
University of Sheffield, Hounsfield Road
Sheffield
S3 7RH
Independent examiner Wells Richardson
Cannon House
Rutland Road
Sheffield
South Yorkshire
S3 8DP
Bankers Reliance Bank
Faith House
23-24 Lovat Lane
London
EC3R 8EB

BIOMETRIKA TRUST

CONTENTS

Page
Trustees' report 1 - 3
Statement of trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

BIOMETRIKA TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and "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).

Objectives and activities

Biometrika Trust is a registered charity which was created with the object of carrying on and if possible maintaining the future issue of the Journal, Biometrika, and associated publications, the surplus arising therefrom to be spent on improving the Journal and publications or reducing their cost to subscribers.

The Trustees are committed to the production of a journal of high quality and scientific relevance in the field of statistical theory and methods, to the direct benefit of the academic and scientific communities world-wide; and to the indirect benefit of the wider public through the advancement of knowledge and application of the methodology. The Trustees aim to make the journal widely accessible while keeping the publication prices affordable to both institutions and individuals.

In planning the activities for the year, the Trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance in relation to education and research.

Achievements and performance

In order to further the charitable objectives, the Trustees have:

Biometrika Volume 111 was produced in four issues totalling 1,444 pages and has maintained the journal’s high academic quality. Numbers of paper subscribers have decreased in line with academic journals generally, and therefore production of the paper version ceased at the end of 2021. However, distribution has been maintained through increased electronic publications to individual institutions and consortia and via free access given to some third world countries. All back volumes continue to be available in electronic form. Further details on circulation and dissemination can be found in the Oxford University Press publishing report on Biometrika.

Investment income has remained stable and investments have performed in line with expectations and market conditions.

Financial review

A summary of the results for the year can be found on page 6 of the financial statements. During 2024, total income amounted to £237,200 (2023: £240,549). Of this figure £205,830 (2023: £210,975) related to publication sales. A further £31,370 (2023: £29,574) was received by way of investment income. Expenditure totalled £176,707 (2023: £200,877). £153,565 (2023: £175,793) was spent on publication and editorial costs.

Expenditure on governance of the Trust was kept to a minimum during the year and totalled £23,142 (2023: £25,084).

Movements on the stock market during the year led to profits on the charity's investment portfolio of £26,809 (2023: £25,739). After accounting for these movements, the Trust had a net surplus in funds of £87,302 (2023: £65,411).

BIOMETRIKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The need to hold long term and short-term reserves are:

(a) to cover expenses that would be incurred in the event of termination of the Trust or other unexpected eventualities.

(b) to finance additional activities that the Trustees deem desirable (e.g. publishing special volumes.)

(c) to finance any operating deficits that might occur - for example with a falling subscriber base and/or adverse fluctuations in exchange rates.

There is no absolute way to determine an appropriate level of reserves, but it is considered that in normal times about three year's costs would be a reasonable level, divided approximately equally between long term and shortterm reserves. The Trust's balance sheet shows general unrestricted reserves totalling £1,206,385 at 31st December 2024 (2023: £1,119,083) which represents approximately 167 months’ publication costs, divided between long and short term investments. As these amounts will vary over time, the reserves may be added to or taken from publication income or used to finance the journal when appropriate.

The Trust's reserves are reviewed by the Business Manager and a nominated trustee when proposing publication rates for the coming year and are recorded in the Business Manager's annual report. Recent advice from the Charity Commission has enabled the Trustees to use the Trust’s surplus reserves for appropriate funding of research in statistical theory and methods.

Risk management

The Trustees have examined the major operational, financial and external risks which the Trust faces and confirm that systems have been established to mitigate those risks. The main risks identified by the Trustees and the systems established to mitigate those risks are as follows:

The risk register has again been reviewed and agreed by the Board of trustees in light of COVID-19, but no further pandemic related risk were identified since the previous review. The unavailability of key personnel had been previously identified. On the editorial side this is mitigated through having an editorial team to support the editor. With respect to business and general day to day management, much of this work is subcontracted to an organisation that runs other academic journals, for the provision of more robust support.

Plans for future periods

The Trust plans to continue to produce the Journal to the highest standard and to distribute it as widely as possible to the academic community worldwide. Electronic production, marketing and distribution will continue to be contracted to Oxford University Press in the immediate future. In addition, we will continue to provide JSTOR with the means to maintain the availability of all back volumes in electronic form. The Trust also plans to use further excess reserves to support research in statistical science. It is not yet clear whether COVID-19 will have any longterm effect on the charity, beyond that on the value of and income from investments.

Structure, governance and management

The charity was previously an unincorporated charity governed by a board of trustees. On the 10 August 2024 it reregistered as a Charitable Incorporated Organisation (CIO). The governing document of the Trust is the Trust Deed dated 3rd May 1935. The day-to-day management of the Trust is delegated to the Business Manager and Administrator.

BIOMETRIKA TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 tnJst•88 ¢XxlrvJ ar#J up lo It dal& of8wtyre ￿the $1otoment8 ￿re. Pmf. V Isham Prof. P str P DOn￿lly Prof. P Green Dr R Galbrallh Prol. T F•am Prof. S Lauthn Prof. S Rlthardeon Mr M Larna￿0n Prof. A Oavlgon Mr R Wong Prof. J 0okJ•y Prof. D Fareweil Prof. J Rouswu Prof. R Klng Prol. O HwK1gr¥on Tw8tO•8 are appro¥d￿l and 8PF¥)bnt•d •llh•r duo to th•k academbc stèndlrvd or duè to havlNJ aprowl810 TN81tt8 a8 tt li ltyjed. Pay poll¢y for ••nlor #taff The Tru8te8s considor ts Board of TnJst8e8. th? BL¢81neBS M8n8g8r and th& Edltor to Ihe kay rnanagomonl ￿T80nn￿ of TnJ$L Ttw art in chary ol dlroclng. ccntrc4llng. njnnbry and oporotlThJ Ihg Trust on da￿t(￿laY b•$i8. Al trust￿8 givo their flme treety. Detsll$ of k•y m8n89•m￿l p8Ix￿n￿l r•munoraUon IJ provld•d In Note 9 •nd d¢talls of TNstoeJ' expens08 is wovKknJ In Note 8. Tho pay awarded to kay manag•mwL and an m8fflb•rn of sl•ff, b5 revi8v*ed •#ch yew ty the Ththtee8 to ensure t￿tIl r8118d8 chwges to the cosl of ￿n9 and Ihe loval of pwlomod by e8th en¥>loyoe on ￿h￿l1 of Iho Tru8L In 2024. all pay Strudum to th￿n kn Iln• th the 8Ktor for 2025 utlll¥fjw I Unlvornlty Salary Scolo. approwd by th? BC￿ clTfUStee•. Chali of th•

BIOMETRIKA TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BIOMETRIKA TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BIOMETRIKA TRUST I report to the tn￿lee8 on my examinallon of the finand81 statements of BiometrtkA T￿￿1 (the d￿rity) for the year ended 31 December 2024. Rgsponsibilities and ba$ls of rnport A8 the thJslee8 ofthe charfty you are re8pon61ble for the preparation of the llnandal 8tstements In accordanc8 vAth the requlrements olthe ChadleB Act 2011. I report In rospect of my examlnatlon of thè ¢h8rlly's financl41 ststsm•nl8 cawied out under Sedlon 145 of the Charlyes Act 2011. In caffylng out my examination I hwe followed the Dtre¢tion8 glven by the Charrty Commh¥lon und•r seclion 145(51(b) of tho CharfUe8 Act 2011. Independent examlnerfl $t#tement I have ￿rnpleted my examlnation. I conflrni that no mattern have ¢oTh to my •ttenlon Sn connedon Thlth th• examlnatlon glvlng me cau88 to bellev8 that In any moterlal TeBpect'. accounong record6 were not kept In ro8pe¢l of the chadty ￿ requlrod by 130 of th• Charftlo8 2011, the fflnanclal 8tatements do not accord thoB$ record¥: or the finandal statfjmonts do not comply vlth the appllcable r$qulr8mants concernlng the form and content of flnanclal 8tatem8nts sèt out In the ChadUe8 (Accounts and Report81 Regul4llon8 2008 other than any requlrement that the llnandal ¥tatom¢nts glv& a true and falr vlew, vthich 18 not a motter con8ldered as part of an Indep*nd4nt ￿•mInatIon. I have no ¢oncem8 and hove com• no other mattorn In conngclon vlth tho examlnolon to vthleh attent 8hould b• drawn In th18 report In order to enable a wop•r undertstsndlng of th• financlal 8talements lo bo 1oa¢hod. Indepentjent Examlnor Charter•d Accountant 118 Rlchard8on Cannon Hou8• Rulland Road Sheffield &)Lth YoTk8Nre S3 8DP Dated: ? Juty 2025

BIOMETRIKA TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

**Unrestricted ** Unrestricted
funds funds
general general
2024 2023
Notes £ £
Income from:
Charitable activities 3 205,830 210,975
Investments 4 31,370 29,574
Total income 237,200 240,549
Expenditure on:
Charitable activities 5 176,707 200,877
Net movement in funds before gains/(losses) on investments 60,493 39,672
Net gains/(losses) on investments 10 26,809 25,739
Net movement in funds 87,302 65,411
Fund balances at 1 January 2024 1,119,083 1,053,672
Fund balances at 31 December 2024 1,206,385 1,119,083

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BIOMETRIKA TRUST BALANCE SHEEr ASAT31 DECEMBER 2024 2023 FIX￿ assets TanglI￿e a55ets Investments 12 13 104 1.008.439 1.044.045 1,044.128 1,008,543 Curronl assots 14 15 Debtors Cash at barf( and in haThl &8.694 213282 67.700 61,236 271.977 128.937 Cr￿11101$. amounts du• wlthln one ￿•r 16 11Tr3.720) {18.397} Net assets 162257 110,540 Totsl ass•tg l•M ¢urr•nt ltsbllltl•s 12C6.385 1,119,083 Incom•fvnds Unrnstricted fun¢Js. 9gn8ral 1206.385 1,119.083 1%￿.389 1,119,083 nan nts were apwoNYd by tt*TnL%lees iJn.£13u•£lto2S Dr M Yamyw Chair tho 81om•trlka Trusl

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

BIOMETRIKA TRUST

1 Accounting policies

Charity information

Biometrika Trust is a registered charity which is governed by its Trust deed dated 3rd May 1935 and had a registration number 222601. On the 10 August 2024, the assets of the charity were transferred to a new Charitable Incorporated Organisation (CIO) - registered number 1205601. The registered office is Hicks Building K27, University of Sheffield, Hounsfield Road, Sheffield, S3 7RH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Over 70% of the Trust’s publication income comes from long term contracts with universities for the provision of the journal Biometrika. Most of the balance of the income arises from sales of back issues etc and this income was very similar to 2023. The world of academic publication is changing rapidly, partly due to the move to open access. It is difficult to predict the long term effects on Biometrika. The Trust does maintain a significant level of reserves, £543k of which is in cash or cash equivalents. This should enable the Trust to have time to react to any changes in academic publishing.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise unrestricted funds designated for the funding of research support and student fellowships.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

When the Trustees approve the creation of a new fellowship, an appropriate amount is transferred from unrestricted funds to designated funds. Once the award to a specific individual has been approved by the Trustees and notified to the recipient, the full amount of the award is recognised as expenditure.

The costs of publications, editorial and publishing and of administration comprise expenditure, including staff costs, directly attributable to the activity. Where costs cannot be directly attributed they have been allocated to activities on a cost basis.

Support costs comprise all services supplied centrally, identifiable as wholly or mainly in support of direct charitable purposes and include an appropriate proportion of general overheads.

Governance costs include the costs of governance arrangements which relate to the general running of the Trust, including strategic planning for its future development, external audit, any legal advice for the Trustees, and all costs of complying with constitutional and statutory requirements, such as the costs of Trustee meetings and of preparing the statutory accounts and satisfying public accountability.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

The Trustees do not consider that a realistic valuation of the stocks of publications can be made. Therefore they are included at a nominal value.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Charitable activities

Sale within charitable activities
For the year ended 31 December 2023
Sale within charitable activities
Analysis by fund
Unrestricted funds - general		 Current
volume
Back numbers
Auxiliary
publications
Consortia Digital archive
and member
sales
2024
2024
2024
2024
2024
£
£
£
£
£
27,269
15,434
58,715
85,960
18,452
Current
volume
Back numbers
Auxiliary
publications
Consortia Digital archive
and member
sales
£
£
£
£
£
28,191
15,488
74,564
84,397
8,335
28,191
15,488
74,564
84,397
8,335		 Total
2024
£
205,830		 Total
2023
£
210,975
Total
£
210,975
210,975

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Investments

**Unrestricted ** Unrestricted
funds funds
general general
2024 2023
£ £
Income from unlisted investments 22,327 23,074
Interest receivable 9,043 6,500
31,370 29,574

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5 Charitable activities

Charitable activities
Editorial and Editorial and
Research
Publication publishing Governance Total Publication publishing support/ Governance Total
costs costs costs 2024 costs costs fellowships costs 2023
2024 2024 2024 2023 2023 2023 2023
£ £ £ £ £ £ £ £ £
Depreciation and impairment 11 10 - 21 13 13 - - 26
Current volume 14,037 - - 14,037 14,950 - - - 14,950
Auxiliary publications 500 - - 500 1,192 - - - 1,192
Commission payable 39,983 - - 39,983 41,052 - - - 41,052
Editorial costs - 7,338 - 7,338 - 13,364 - - 13,364
Publishing expenses - 12,926 - 12,926 - 9,783 - - 9,783
Research support/fellowships - - - - - - 10,487 - 10,487
54,531 20,274 - 74,805 57,207 23,160 10,487 - 90,854
Share of support costs (see note 6) 39,380 39,380 - 78,760 42,469 42,470 - - 84,939
Share of governance costs (see note 6) - - 23,142 23,142 - - - 25,084 25,084
93,911 59,654 23,142 176,707 99,676 65,630 10,487 25,084 200,877

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6
Support costs
Staff costs
Outsourcing of
administration
Insurance and telephone
Legal and professional
fees
Bank charges and
interest
Training and travel
expenses
Bad debt
Independent examination
fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
49,945
12,487
15,970
3,993
1,763
441
5,651
1,413
131
33
1,020
255
4,280
1,070
-
3,450
78,760
23,142
78,760
23,142		 2024
£
62,432
19,963
2,204
7,064
164
1,275
5,350
3,450
101,902
101,902		 Support
costs
Governance
costs
£
£
53,466
13,366
15,541
3,885
-
-
15,648
3,912
284
71
-
-
-
-
-
3,850
84,939
25,084
84,939
25,084		 2023
£
66,832
19,426
-
19,560
355
-
-
3,850
110,023
110,023

Governance costs includes payments to the independent examiners of £3,450 (2023- £3,850).

7 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 3,450 3,850
Depreciation of owned tangible fixed assets 21 26

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

No trustees were reimbursed for travel expenses during the current or prior year.

9 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
3 3

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9
Employees
Employment costs
Wages and salaries
Social security costs
Outsourcing of administration		 (Continued)
2024
2023
£
£
56,854
56,886
5,578
9,946
19,963
19,426
82,395
86,258		 (Continued)
2024
2023
£
£
56,854
56,886
5,578
9,946
19,963
19,426
82,395
86,258
86,258

The key management personnel of the Trust are considered to be the Trustees, the Business Manager and the Editors. Aggregate remuneration and benefits for the key management personnel in 2023 was £21,665 (2023: £27,616).

There were no employees whose annual remuneration was more than £60,000.

10 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 26,809 25,739

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

12
Tangible fixed assets
Fixtures
Cost
At 1 January 2024
At 31 December 2024
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023		 and fittings
£
2,193
2,193
2,089
21
2,110
83
104

13 Fixed asset investments

Investments
£
Cost or valuation
At 1 January 2024 1,008,439
Additions 8,797
Valuation changes 26,809
At 31 December 2024 1,044,045
Carrying amount
At 31 December 2024 1,044,045
At 31 December 2023 1,008,439

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

13
Fixed asset investments
Investments at fair value comprise:
M&G Charifund
M&G Charibond
Scroders Charity Equity Fund
Leeds Building Society
Scottish Widows 90 DAY Notice Account
Virgin Money Account
Shawbrook CAF 60 DAY Notice Account
Buckinghamshire Building Society
Saffron Building Society
14
Stocks
Finished goods and goods for resale
15
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Payments received on account
Trade creditors
Accruals and deferred income		 (Continued)
2024
2023
£
£
314,249
296,376
202,949
209,610
196,642
181,044
35,571
34,536
52,547
51,854
86,913
85,749
35,000
35,000
17,425
16,920
102,749
97,350
1,044,045
1,008,439
2024
2023
£
£
1
1
2024
2023
£
£
787
519
57,907
67,181
58,694
67,700
2024
2023
£
£
91,990
-
128
141
17,602
18,256
109,720
18,397		 (Continued)
2024
2023
£
£
314,249
296,376
202,949
209,610
196,642
181,044
35,571
34,536
52,547
51,854
86,913
85,749
35,000
35,000
17,425
16,920
102,749
97,350
1,044,045
1,008,439
2024
2023
£
£
1
1
2024
2023
£
£
787
519
57,907
67,181
58,694
67,700
2024
2023
£
£
91,990
-
128
141
17,602
18,256
109,720
18,397
1,008,439
2023
£
1
2023
£
519
67,181
67,700
2023
£
-
141
18,256
18,397

BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January At 1 January Incoming Resources Gains and At 31
2024 resources expended losses December
2024
£ £ £ £ £
General funds 1,119,083 237,200 (176,707) 26,809 1,206,385
Previous year: At 1 January Incoming Resources Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £
General funds 1,053,672 240,549 (200,877) 25,739 1,119,083
Analysis of net assets between funds
Unrestricted
funds
2024
£
Fund balances at 31 December 2024 are represented by:
Tangible assets 83
Investments 1,044,045
Current assets/(liabilities) 162,257
1,206,385
Unrestricted
funds
2023
£
Fund balances at 31 December 2023 are represented by:
Tangible assets 104
Investments 1,008,439
Current assets/(liabilities) 110,540
1,119,083

18 Analysis of net assets between funds

19 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).