2025-12-31-accounts

CHARITY REGISTRATION NUMBER: 1208240

Association for Information Technology Trust Unaudited Financial Statements

31 December 2025

HARRISON HOLT

Chartered Accountants High Park Farm Kirkbymoorside York YO62 7HS

Association for Information Technology Trust

Financial Statements

Year ended 31 December 2025

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	7
Statement of financial activities	8
Statement of financial position	9
Notes to the financial statements	10

Association for Information Technology Trust

Trustees' Annual Report

Year ended 31 December 2025

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2025.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, 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 published in October 2019.

Reference and administrative details

Registered charity name Association for Information Technology Trust Charity registration number 1208240 Principal office 53 Blandford Road London W4 1EA The trustees Professor Igor Aleksander Catherine Griffiths Professor Jeremy Pitt Dr Christopher Sauer Dr William Venters (Appointed 6 February 2025) Hon. President Professor Frank Land OBE (from 14 May 2024. Died 16 May 2026) Charity Secretary Catherine Griffiths Banker The Co-operative Bank PLC P.O. Box 250 Skelmersdale WN8 6WT Independent examiner Philip Holt FCA FCIE High Park Farm Kirkbymoorside York YO62 7HS

1

Association for Information Technology Trust

Trustees' Annual Report (continued)

Year ended 31 December 2025

Structure, governance and management

Nature of the Governing Document and Constitution of the Charity

Association for Information Technology Trust ("the Charity") was incorporated as a Charity Incorporated Organisation, using the Foundation template constitution, on 14 May 2024. The former unincorporated charity Association for Information Technology Trust (charity number 1038814) was governed by a Declaration of Trust dated 22 April 1994 and was registered with the Charity Commission on 25 July 1994. On 2 October 2024, all of the activities and funds of the old charity were transferred to the new charity number 1208240.

The methods adopted for the recruitment and appointment of new trustees

The Charity is governed by the Board of Trustees. The power of appointing new or additional trustees vests with the Trustees. Board vacancies are dealt with on a skills-need basis and the Board votes on new appointments. The Trust Deed provides that the trustees may be appointed by a resolution of the Board.

The policies and procedures adopted for the induction and training of trustees

An information pack is given to all new trustees which includes information about the Charity, its vision and purpose and copies of policies and any current business plan. It explains the Trust Deed and principles of good governance. A chapter is dedicated to explaining the trustee's role, the skills and qualities required and the role of trustees in strategic planning. A further chapter gives guidance from the Charities Commission to trustees on their responsibilities.

The organisational structure of the Charity and how decisions are made

The trustees meet at regular intervals to review the assets and finances of the charity and to consider new grant requests.

There are no significant restrictions in the way the charity can operate and there have been no changes of policy since the signing of the Trust Deed.

The trustees' investment powers are unrestricted. Meetings are minuted and records kept indefinitely.

The day to day management of the Charity is the responsibility of the Charity Secretary, who is one of the trustees.

The major risks to which the Charity is exposed and reviews and systems to mitigate them.

The trustees have a risk management strategy which comprises;

• a) An annual review of the risks the charity may face;

• b) The establishment of systems and procedures to mitigate those risks; and

• c) The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

It is acknowledged that operational and financial risks exist and the trustees take appropriate steps to mitigate these within the financial constraints imposed by available funds.

2

Association for Information Technology Trust

Trustees' Annual Report (continued)

Year ended 31 December 2025

Public Benefit

In compliance with Section 17 of the Charities Act 2011, the charity continued to focus on the provision of grants for research and education into the impact of IT on structures, organisations and countries.

The trustees confirm that they have paid due regard to the Charities Commission guidance on public benefit when reviewing the Charity's purpose and operations and in deciding which activities the Charity should undertake.

Grant-making policy

It is the policy of the Trustees to make grants to a wide range of charitable bodies, focusing on research and studentships.

Related parties

Professor Igor Aleksander and Professor Jeremy Pitt, trustees, are based at Imperial College of Science, Technology and Medicine, London.

Professor Frank Land and Dr Carsten Sørensen are based at the London School of Economics (LSE). Professor Land, who retired as a Trustee on 14 May 2024, is also a trustee of the LEO Computers Society, a registered charity. Dr Carsten Sørensen retired as a Trustee on 4 November 2024.

Catherine Griffiths is a trustee of MathsWorldUK, a registered charity.

Professor Frank Land OBE

It is with great sadness that we report the death of Professor Frank Land who was the AITT Patron, the co-founder of JIT, and former founder Trustee of the AITT. His influence and contribution to the field have been internationally recognised and obituaries published in academic and national press. He was a true inspiration to so many, and a valued source of great wisdom and ideas - always delivered with kindness and humour. The AITT funded the Land Archivist Post in his and his brother Ralph's name, at the Centre for Computing History at Bletchley Park. The Archivist obituary is on the LSE website at

https://blogs.lse.ac.uk/lsehistory/2025/11/28/frank-land-pioneer-professor-and-leo-historian/

Objectives and activities

The principal charitable object of Association for Information Technology Trust was:

TO ADVANCE EDUCATION IN THE FIELD OF INFORMATION TECHNOLOGY

The principal activities to further these objects are:

• the provision of grants for research and education;

• the provision of grants for studentships and research; and

• the care and development of the Journal of Information Technology and its sister journal,

• the Journal of Information Technology Teaching Cases.

3

Association for Information Technology Trust

Trustees' Annual Report (continued)

Year ended 31 December 2025

Achievements and performance

Grant making

The charity committed to making a grant in the current period which totalled £nil (2024 - £58,500) and paid £29,900 (2024 - £28,600) in respect of an overseas PhD student in the Department of Electrical and Electronic Engineering Research at Imperial College, London.

Due to the Trustees links and the significance of it to the history of computing, the Trust has regularly given grants to the LEO Computers Society, and aims to continue to fund this to ensure the completion of the oral history project and to maintain the archive of the world's first electronic office computer. The archive and LEO computers have now been moved to Bletchley Park. No grants were approved in the current year (2024: £42,936)

During the year, the trustees made a grant of £nil (2024: £55,200) to MathsWorld UK to create a collection of exhibits entitled Mind and Machine at MathsCity London.

The Trust has in recent periods made a series of grants to under-privileged schools in Liverpool, helping children have access to new technologies, and it has funded research RAs at Imperial College (AI and speech recognition) and a study making an analysis of Journal papers and academics, and a case study on technology to support educationally challenged pupils. In the past couple of years, it has funded the Macular Society for helping people read using technology.

4

Association for Information Technology Trust

Trustees' Annual Report (continued)

Year ended 31 December 2025

Achievements and performance (continued)

During the year, the Journal of Information Technology was published four times and has consolidated its excellent reputation and secured a strong place in the growing number of lists of the best places to publish. Currently, it has an Impact Factor of 8.7 and a Five-Year Impact Factor of 8.3 (2024 - 7.7) (www.journals.sagepub.com/home/jin).

Publishing

A new publishing contract with SAGE has been agreed and this provides the continuity to existing sources of funding.

The Journal of Information Technology ("JIT") is a top-ranked international academic journal, focused on new research addressing information, management, and communications technologies as applied to the digital worlds of business, government and non-governmental enterprises. The Journal is especially interested in studies that address emerging technologies and their convergence including SMAC (social media, mobile, analytics, cloud) and BRAID (blockchain, robotics, automation of knowledge work, internet of things and digital fabrication).

JIT focuses on empirical research and critical analysis of technology development, use, management and impacts. Subjects in scope include strategy, change, infrastructure, human resources, sourcing, system development and implementation, IT risk, data science, communications, technology developments and futures, national policies and standards. JIT also has a strong track record in publishing papers that advance understanding and application of research approaches and methods.

The Journal publishes work from all disciplinary, theoretical and methodological perspectives. It is designed to be read by researchers, scholars, teachers and advanced students in the fields of Information Systems, Management and Information Science, as well as IT developers, consultants, software vendors, and senior business and IT executives seeking an update on current experience and future prospects in relation to contemporary information and communications technologies.

In addition to papers reporting original research studies, the Journal aims to help its readers by exploring contentious and novel topics through publishing Debates and Perspectives papers with peer commentary; Scholarly Review articles; and State of the Art papers by acknowledged domain leaders. From time to time the Journal publishes special issues on key or emerging contemporary topics.

The Journal of Information Technology Teaching Cases ("JITTC") was started in 2010 and is an electronic-only Journal of Teaching Cases, with full teaching notes and regular updates. It is combined in the JIT subscription and is not available separately, although the cases are syndicated through the Harvard Business Review Teaching Cases Clearing House (under a specific contract with JIT and the publishers, SAGE). New consultations are in hand to renew the collaboration with Harvard and to develop one with AIS the USA network for academics worldwide.

Catherine Griffiths, one of the Trustees, is one of the Editors of the JIT and other trustees contribute to articles which are published.

The mission of the Trustees are five fold:

• To allocate grants to worthwhile, relevant projects/initiatives;

• To appoint the Editors in Chief of JIT and JITTC;

• To protect the JIT/JITTC copyright;

• To protect the relationships with the right publishers; and

• To be an Ambassador for the JIT/JITTC.

5

Association for Information Technology Trust

Trustees' Annual Report (continued)

Year ended 31 December 2025

Financial review

During the period, the publication royalties generated £183,750 (2024 - £278,243) from the quarterly journal published for the Charity.

The total expenditure on charitable activities amounted to £113,696 (2024 - £273,745) with governance and other resources expensed totalled £5,161 (2024 - £9,390) during the year.

The total reserves at the year end stand at £711,601 (2024 - £640,461).

Reserves policy

At present, the free unrestricted reserves of the Charity show a surplus of £711,601 (2024 surplus of £640,461). The Trustees have determined that the charity does not need to have a reserves policy because the Trust Deed empowers them to hold surplus publication rights income and advances for future publications for future grants and research awards.

Plans for future periods

The Trustees are in discussions with a number of organisations about grants. These will be taken forward and considered once submissions have been made to the Trusses, following our discussions. After the year end, the trustees approved a grant of £10,000 to LEO Computers Society to mark the 75th anniversary, in November 1951, of the world's first commercial data processing computer. There will also be an item included on the next Trustee Agenda of whether and how the AITT recognizes the contribution made by Professor Frank Land to the IS field and to JIT/JITTC.

30/07/26

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Catherine Griffiths Catherine Griffiths (Jul 30, 2026 16:09:25 GMT+1)

Dr William Venters (Jul 30, 2026 13:06:12 GMT+1)

Catherine Griffiths Trustee

Dr William Venters Trustee

6

Association for Information Technology Trust

Independent Examiner's Report to the Trustees of Association for Information Technology Trust

Year ended 31 December 2025

I report to the trustees on my examination of the financial statements of Association for Information Technology Trust ('the charity') for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Philip Holt

Philip Holt (Jul 30, 2026 17:48:02 GMT+1)

Philip Holt FCA FCIE Independent Examiner

High Park Farm Kirkbymoorside York YO62 7HS

30/07/26

7

Association for Information Technology Trust

Statement of Financial Activities

Year ended 31 December 2025

		2025		2024
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Charitable activities	4	183,750	183,750	278,243
Investment income	5	6,247	6,247	4,880
		--------------------------------	--------------------------------	--------------------------------
Total income		189,997	189,997	283,123
		================================	================================	================================
Expenditure
Expenditure on charitable activities	6,7	118,857	118,857	283,135
		--------------------------------	--------------------------------	--------------------------------
Total expenditure		118,857	118,857	283,135
		================================	================================	================================
		--------------------------------	--------------------------------	--------------------------------
Net income/(expenditure) and net movement in funds		71,140	71,140	(12)
		================================	================================	================================
Reconciliation of funds
Total funds brought forward		640,461	640,461	640,473
		--------------------------------	--------------------------------	--------------------------------
Total funds carried forward		711,601	711,601	640,461
		================================	================================	================================

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

The notes on pages 10 to 17 form part of these financial statements.

8

Association for Information Technology Trust

Statement of Financial Position

31 December 2025

		2025	2024
	Note	£	£
Fixed assets
Intangible assets	14	1	1
Current assets
Debtors	15	184,585	181,835
Cash at bank and in hand		529,969	585,305
		--------------------------------	--------------------------------
		714,554	767,140
Creditors: amounts falling due within one year	16	2,954	126,680
		--------------------------------	--------------------------------
Net current assets		711,600	640,460
		--------------------------------	--------------------------------
Total assets less current liabilities		711,601	640,461
		--------------------------------	--------------------------------
Net assets		711,601	640,461
		================================	================================
Funds of the charity
Unrestricted funds		711,601	640,461
		--------------------------------	--------------------------------
Total charity funds	17	711,601 ================================	640,461 ================================

These financial statements were approved by the board of trustees and authorised for issue on 30/07/26........................, and are signed on behalf of the board by:

Catherine Griffiths Catherine Griffiths (Jul 30, 2026 16:09:25 GMT+1)

Dr William Venters (Jul 30, 2026 13:06:12 GMT+1)

Catherine Griffiths Trustee

Dr William Venters Trustee

The notes on pages 10 to 17 form part of these financial statements.

9

Association for Information Technology Trust

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 53 Blandford Road, London, W4 1EA.

2. Statement of compliance

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

3. Accounting policies

Basis of preparation

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities, within the next financial year, are the levels of future funding and expenditure on charitable activities.

10

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• expenditure to support the Journals Editorial Board at an annual conference.

11

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Resources expended (continued)

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Intangible assets

Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

12

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

4. Charitable activities

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
	£	£	£	£
Publishing royalties and advances	183,750	183,750	277,706	277,706
Springer Royalty	–	–	37	37
Compensation	–	–	500	500
	--------------------------------	--------------------------------	--------------------------------	--------------------------------
	183,750	183,750	278,243	278,243
	================================	================================	================================	================================
Investment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
	£	£	£	£
Bank interest receivable	6,247	6,247	4,880	4,880
	=======================	=======================	=======================	=======================

5. Investment income

6. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2025	Funds	2024
	£	£	£	£
Research	–	–	67,022	67,022
Education	–	–	98,136	98,136
Publication	112,287	112,287	107,645	107,645
Support costs	6,570	6,570	10,332	10,332
	--------------------------------	--------------------------------	--------------------------------	--------------------------------
	118,857	118,857	283,135	283,135
	================================	================================	================================	================================

7. Expenditure on charitable activities by activity type

	Activities
	undertaken	Support	Total funds	Total fund
	directly	costs	2025	2024
	£	£	£	£
Research	–	–	–	67,596
Education	–	–	–	98,136
Publication	112,287	1,409	113,696	108,013
Governance costs	–	5,161	5,161	9,390
	--------------------------------	-----------------------	--------------------------------	--------------------------------
	112,287	6,570	118,857	283,135
	================================	=======================	================================	================================
Analysis of support costs
	Publication	Governance	Total 2025	Total 2024
	£	£	£	£
Governance costs	–	5,161	5,161	9,390
Design and marketing	500	–	500	–
Travel and subsistence	709	–	709	693
Bank charges	200	–	200	249
	-----------------------	-----------------------	-----------------------	----------------------------
	1,409	5,161	6,570	10,332
	=======================	=======================	=======================	============================

8. Analysis of support costs

13

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

9.	Governance costs
		2025	2024
		£	£
	Independent Examiners fees	504	480
	Accounts preparation	1,500	1,300
	Professional advice	450	6,630
	Costs of trustees' meetings	2,707	980
		-----------------------	-----------------------
		5,161	9,390
		=======================	=======================
10.	Analysis of grants
		2025	2024
		£	£
	Grants to institutions
	Imperial College London	–	28,600
	LEO Computer Society	–	42,936
	MathsWorld UK	–	55,200
		--------------	--------------------------------
		–	126,736
		--------------	--------------------------------
	Total grants	–	126,736
		==============	================================
11.	Independent examination fees
		2025	2024
		£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements	504	480
	Other financial services	1,950	1,800
		-----------------------	-----------------------
		2,454	2,280
		=======================	=======================

12. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

13. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees in the current or previous period in respect of their position as a trustee. One trustee, acting as Senior Editor and as Editor in Chief of JIT/JITTC during the year, received stipends of £12,100 (2024: one trustee received £12,100). The power to pay a stipend to editors is included in the Constitution.

Four trustees (2024 - four trustee) were reimbursed for expenses in relation to travel and subsistence, conference fees and trustees meetings amounting to £11,169 (2024 - £10,731).

14

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

14. Royalties and publishing rights

	Royalty and
	Publishing
	Copyrights
	£
Cost
At 1 January 2025 and 31 December 2025	1
	==============
Amortisation
At 1 January 2025 and 31 December 2025	–
	==============
Carrying amount
At 31 December 2025	1
	==============
At 31 December 2024	1
	==============

The Charity, through its publisher, requires the author of all articles published in the Journal of Information Technology ("The Journal"), as the rights holder, to sign a Journal Contributor’s Publishing Agreement for all articles publish in The Journal. The publisher’s Journal Contributor’s Publishing Agreement is a licence agreement under which the author retains copyright in the work but grants the publisher the sole and exclusive right and licence to publish for the full legal term of copyrig ht. Exceptions may exist where assignment of copyright is required or preferred by a proprietor other than the publisher. In this case, copyright in the work will be assigned from the author to the Charity.

The Charity owns the copyrights to a significant library of published works but does not capitalise the value of these rights because they do not have a cost or a readily attainable market value on acquisition or transfer to the Charity.

15. Debtors

		2025	2024
		£	£
	Prepayments and accrued income	184,585	181,835
		================================	================================
16.	Creditors: amounts falling due within one year
		2025	2024
		£	£
	Accruals and deferred income	2,954	96,779
	Grants awarded and payable within one year	–	29,901
		-----------------------	--------------------------------
		2,954	126,680
		=======================	================================

15

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

17. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
			At				At
	1	January	20			31	Decembe
			25	Income	Expenditure		r 2025
		£		£	£		£
General funds		640,461		189,997	(118,857)		711,601
		================================		================================	================================		================================
			At				At
	1	January	20			31	December
			24	Income	Expenditure		2024
		£		£	£		£
General funds		640,473		283,123	(283,135)		640,461
		================================		================================	================================		================================

18. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2025
	£	£
Tangible fixed assets	1	1
Current assets	714,554	714,554
Creditors less than 1 year	(2,954)	(2,954)
	--------------------------------	--------------------------------
Net assets	711,601	711,601
	================================	================================
	Unrestricted	Total Funds
	Funds	2024
	£	£
Tangible fixed assets	1	1
Current assets	767,140	767,140
Creditors less than 1 year	(126,680)	(126,680)
	--------------------------------	--------------------------------
Net assets	640,461	640,461
	================================	================================

16

Association for Information Technology Trust

Notes to the Financial Statements (continued)

Year ended 31 December 2025

19. Related parties

During the year, four trustees (2024 - three) were reimbursed conference fees, travel and support cost expenses amounting to £11,169 (2024 - £10,731).

During the year, grants of £nil (2024 - £58,500) were awarded to Imperial College, London, a university where both Professor Igor Aleksander and Professor Jeremy Pitt, trustees of Association for Information Technology Trust, are based. This grant was ear-marked to support a research PhD student bursary. This grant was an arms length transaction and Professor Pitt was not involved in the process for awarding this grant. During the year, £29,900 (2024 - £28,600) of this award was paid and at the year end the balance payable amounted to £ni l (2024 - £29,900).

During the year, a grant of £nil (2024 - £42,936) was awarded to LEO Computer Society, a charity where Professor Frank Land, a trustee of Association for Information Technology Trust until 13 May 2024, was also a trustee. This grant was an arms length transaction and Professor Land was not involved in the process for awarding this grant.

During the year, grants of £nil (2024 - £55,200) were awarded and paid to MathsWorld UK, a charity where Catherine Griffiths, a trustee of Association for Information Technology Trust, was also a trustee. This grant was ear-marked to support Mind and Machine . Professor Igor Aleksander, a trustee of Association for Information Technology Trust also recused himself from the decision as he had previously been associated with MathsWorld UK. This grant was an arms length transaction and Catherine Griffiths and Professor Aleksander were n ot involved in the process for awarding this grant.

During the year, Catherine Griffiths, a trustee of Association for Information Technology Trust received an annual stipend of £12,100 (2024 - £12,100) as working Senior Editor of JIT/JITTC.

17

Association for Information Technology Trust 30/07/26 11 Minutes of the Trustees Meeting held at ….. am/pm on …. …………………… ……. by electronic means

Trustees present: Professor Igor Aleksander Chair Catherine Griffiths Professor Jeremy Pitt Dr Christopher Sauer Dr William Venters

MINUTES OF PREVIOUS MEETING

The Minutes of the last meeting were read, confirmed and signed.

TRUSTEES' REPORT AND ACCOUNTS

The Trustees’ Report and Statement of Accounts for the year ended 31 December 2025 together with the Letter of Representation requested by the Independent Examiner were considered for presentation to the members and it was resolved:-

1 Trustees’ Report

That the Trustees’ Report be approved and signed by Dr William Venters and Catherine Griffiths on behalf of the Board.

2 Trust Policies

The Trustees have conducted a review of the major risks to which the Charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

T The Trustees have determined that the charity does not need to have a reserves policy because the Trust Deed empowers them to hold surplus publication rights income and advances for future publications for future grants and research awards.

3 Charitable Purposes and Public Benefit

That the Trustees are satisfied to the best of their knowledge and belief that they have carefully considered the Public Benefit Guidance and the Charitable Purposes Guidance https://www.gov.uk/government/collections/charitable-purposes-and-public-benefit) issued by the Charity Commission and are satisfied that the Charity meets these requirements both in its objects and by the furtherance of those objectives in the day to day undertaking of its charitable activities and grant funding.

4 Accounts

That the Trustees are satisfied to the best of their knowledge and belief that the Report and Accounts give a true and fair view of the results of the period and the state of the Charity's affairs at the Balance Sheet date.

5 Accounts Approval

30/07/26 That the Accounts as approved on …. ………………. ….. be signed by Dr William Venters and Catherine Griffiths on behalf of the Board.

6 Letter of Representation

That the Letter of Representation to the Independent Examiner be approved and signed by the Dr William Venters and Catherine Griffiths on behalf of the Board.

~~......................................~~ Dr William Venters (Jul 30, 2026 13:06:12 GMT+1) Dr William Venters Trustee

Association for Information Technology Trust 53 Blandford Road London W4 1EA

Philip Holt Harrison Holt, Chartered Accountants High Park Kirkbymoorside York YO62 7HS

Monday, 27 July 2026

Dear Sirs

We confirm that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you in connection with your independent examination of the charity's financial statements for the year ended 31 December 2025.

1 GENERAL

• 1.1 We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter dated 17 August 2023, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.

• 1.2 All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. We acknowledge as trustees our responsibility under the Charities Act 2011 for preparing financial statements which give a true and fair view and for making accurate representations to you.

• 1.3 All the accounting records have been made available to you for the purpose of your audit and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and shareholders meetings, have been made available to you.

• 1.4

• The financial statements are free of material misstatements, including omissions.

• 1.5 We believe that the effect of all errors and extrapolated errors are immaterial both individually and in total and we confirm that there are no items that need to be adjusted.

• 1.6 We confirm that the significant assumptions relevant to the accounts are reasonable.

2 INTERNAL CONTROL AND FRAUD

• 2.1 We acknowledge our responsibility for the design and implementation of internal control systems to prevent and detect fraud. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud. There have been no irregularities (or allegations of irregularities) involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements.

• 2.2 We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements.

• 2.3 We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity’s financial statements communicated by current or former employees, analysts, regulators or others.

3 ASSETS AND LIABILITIES

• 3.1 The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.

• 3.2 We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclosed in the notes to the financial statements all guarantees that we have given to third parties.

• 3.3 We have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements.

• 3.4 We confirm that there are no Restricted Funds that need to be separately disclosed in the financial statements:

• 3.5 We confirm that there are no Permanent Endowment Funds that need to be separately disclosed in the financial statements.

• 4 ACCOUNTING ESTIMATES

• 4.1 Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.

5 BANK ACCOUNTS

• 5.1 We confirm the completeness of the bank accounts disclosed to you and that there are no further securities to be disclosed.

• 6 LOANS AND ARRANGEMENTS

• 6.1 The charity has not had nor entered into at any time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit facilities) for Trustees nor to guarantee or provide security for such matters.

7 LEGAL CLAIMS

• 7.1 All claims in connection with litigation that have been, or are expected to be, received have been properly accrued for in the financial statements.

• 7.2 We are not aware of any legal claims which need to be reflected in the financial statements of the Charity.

8 LAWS AND REGULATIONS

• 8.1 We are not aware of any irregularities, including fraud, involving management or employees of the charity; nor are we aware of any breaches or possible breaches of statute, regulations, contracts, agreements, or the charity's rules which might prejudice the charity's going concern status or that might result in the charity suffering significant penalties or other loss.

• 8.2 No allegations of such irregularities, including fraud, or such breaches have come to our notice.

9 PUBLIC BENEFIT

• 9.1 We have carefully considered the Public Benefit Guidance issued by the Charity Commission and are satisfied that the Charity meets these requirements both in its objects and by the furtherance of those objectives in the day to day undertaking of its charitable activities and grant funding.

10 TRANSACTIONS WITH RELATED PARTIES

• 10.1 All transactions with related parties have been disclosed in the financial statements. We have made available to you all relevant information concerning such transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of the Charities Act 2011 or accounting standards.

11 POST-BALANCE SHEET EVENTS

• 11.1 We confirm that there have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or inclusion of a note thereto. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly.

12 GOING CONCERN

• 12.1 We believe that the Charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We confirm that the Trustees believe that the income for the year to 31 December 2026 will exceed the expenditure and we have considered a period of greater than twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.

Yours faithfully

Catherine Griffiths ~~......................................~~ Catherine Griffiths (Jul 30, 2026 16:09:25 GMT+1) Catherine Griffiths Trustee 30/07/26

~~……………………………~~ Dr William Venters (Jul 30, 2026 13:06:12 GMT+1) .. Dr William Venters Trustee

Dated: …………………………..