2022-12-31-accounts

Charity registration number 222601

BIOMETRIKA TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

BIOMETRIKA TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Prof. V Isham
	Prof. A Dawid
	Prof. P Diggle
	Sir P Donnelly
	Prof. T Fearn
	Dr R Galbraith
	Prof. P Green
	Prof. S Lauritzen
	Prof. S Richardson
	Prof V Didelez
	Mr M Lamaison
	Prof. N Best
	Prof. A Davison
Charity number	222601
Principal address	Department of Statistical Science
	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
	Natwest Bank plc
	45 Tottenham Court Road
	London
	W1T 2EA

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 2022

The trustees present their annual report and financial statements for the year ended 31 December 2022.

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:

• appointed an editor carefully chosen for his scholarship and experience in the field, who has appointed a team of expert deputy and associate editors;

• continued to contract Oxford University Press to produce, promote and distribute the electronic version of the journal;

• continued to ensure that all back volumes more than five years old are available through the electronic publisher JSTOR;

• maintained a sufficient level of reserves according to the Reserves policy; and

• funded fellowships to support research potentially capable of publication in the journal.

Biometrika Volume 109 was produced in 4 issues totalling 1,182 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 2022, total income amounted to £223,966 (2021: £188,673). Of this figure £200,787 (2021: £171,195) related to publication sales. A further £23,179 (2021: £17,478) was received by way of investment income. Expenditure totalled £153,310 (2021: £290,582). £133,300 (2021: £133,192) was spent on publication and editorial costs.

Expenditure on governance of the Trust was kept to a minimum during the year and totalled £20,010 (2021: £17,390). No fellowships were awarded during 2022 (2021: Two totalling £140,000).

Movements on the stock market during the year led to losses on the charity's investment portfolio of £40,539 (2021: profits of £75,458). After accounting for these movements, the Trust had a net surplus in funds of £30,011 (2021: deficit of £26,451).

• 1 -

BIOMETRIKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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 £1,053,672 at 31st December 2022 (2021: £1,023,555) which represents approximately 161 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 balance sheet further shows designated unrestricted reserves of £Nil at 31st December 2022 (2021: £Nil). The purpose of the designated reserves is to fund research support and student fellowships that the Trustees are intending to fund in forthcoming financial years. All fellowships that have been approved by the Trustees have begun and thus, in accordance with the Trust’s accounting policies, the costs relating to those fellowships have been written off.

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:

• Reputational damage to the Biometrika journal – mitigated through putting in place an experienced editorial team;

• Significant loss in value of investments – mitigated through maintaining a balanced portfolio of investments;

• Significant loss in revenue – mitigated through protecting the good reputation of the Biometrika journal, selling it at a competitive price and working with a well-established publisher;

• Internal and external fraud – mitigated through maintaining segregation of duties within the Trust;

• Legal action – mitigated through implementing insurance to cover the Trustees and the Editor, and ensuring that any letters rejecting papers for inclusion in the Journal are well-worded and compliant with relevant laws and regulations;

• Changes in scientific public practice – mitigated through retaining 3 years of costs as reserves to cover the costs of such changes and working with an established publisher; and

• Decline of scientific quality – mitigated through maintaining a high quality editorial team.

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 has been subcontracted to an organisation that runs other academic journals, for the provision of more robust support, from 1 January 2022.

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 is an unincorporated charity governed by a board of trustees. 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.

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BIOMETRIKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees who served during the year and up to the date of signature of the financial statements were: Prof. V Isham

Prof. A Dawid Prof. P Diggle Sir P Donnelly Prof. T Fearn Dr R Galbraith Prof. P Green Prof. S Lauritzen Prof. S Richardson Prof V Didelez Mr M Lamaison Prof. N Best Prof. A Davison Mr P Nowell (Deceased 16 July 2022)

Trustees are approached and appointed either due to their academic standing or due to having appropriate business experience. Charity Commission guidance and documentation for Trustee training is passed to the Trustees as it is issued.

Pay policy for senior staff

The Trustees consider the Board of Trustees, the Business Manager and the Editor to comprise the key management personnel of the Trust. They are in charge of directing, controlling, running and operating the Trust on a day-to-day basis. All trustees give their time freely. Details of key management personnel remuneration is provided in Note 8 and details of Trustees’ expenses is provided in Note 7.

The pay awarded to key management, and all other members of staff, is reviewed each year by the Trustees to ensure that it reflects changes to the cost of living and the level of work performed by each employee on behalf of the Trust

The trustees' report was approved by the Board of Trustees.

.............................. Prof. V Isham Trustee

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

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BIOMETRIKA TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping 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.

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BIOMETRIKA TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Unrestricted Unrestricted funds funds funds general general designated 2022 2021 2021 Notes £ £ £ Income from: Charitable activities 3 200,787 171,195 - Investments 4 23,179 17,478 - Total income 223,966 188,673 - Expenditure on: Charitable activities 5 153,310 150,582 140,000 Net movement in funds before gains/(losses) on investments 70,656 38,091 (140,000) Net gains/(losses) on investments 9 (40,539) 75,458 - Net incoming/(outgoing) resources before transfers 30,117 113,549 (140,000) Gross transfers between funds - 20,000 (20,000) Net movement in funds 30,117 133,549 (160,000) Fund balances at 1 January 2022 1,023,555 890,006 160,000 Fund balances at 31 December 2022 1,053,672 1,023,555 -

Total 2021 £ 171,195 17,478 188,673 290,582 (101,909) 75,458 (26,451) - (26,451) 1,050,006 1,023,555

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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BIOMETRIKA TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net assets Income funds Unrestricted funds - general	2022 £ £ 130 976,422 976,552 1 71,750 57,993 129,744 (52,624) 77,120 1,053,672 - 1,053,672 1,053,672 1,053,672	2021 £ £ 163 1,083,482 1,083,645 1 26,461 146,193 172,655 (177,745) (5,090) 1,078,555 (55,000) 1,023,555 1,023,555 1,023,555

The financial statements were approved by the Trustees on .........................

.............................. .............................. Prof. V Isham Prof. T Fearn Trustee Trustee

• 7 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

BIOMETRIKA TRUST

1 Accounting policies

Charity information

Biometrika Trust is a registered charity which is governed by its Trust deed dated 3rd May 1935, registrationnumber 222601. The registered office is University College London, Gower Street, London, WC1E 6BT.

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 75% 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 increased slightly in 2022. 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. There is as yet no evidence of any longer term effects of COVID-19 on Biometrika’s ability to continue as a going concern but the Trustees will keep the matter under review. The Trust does maintain a significant level of reserves, over £373k of which is in cash or cash equivalents. This should enable the Trust to have time to react to any longer term consequences of COVID19 or the 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 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

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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.

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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.

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Charitable activities

Sales within charitable activities For the year ended 31 December 2021 Sales within charitable activities Analysis by fund Unrestricted funds - general	Current volume Back numbers Auxiliary publications Consortia Digital archive and member sales Total 2022 2022 2022 2022 2022 2022 £ £ £ £ £ £ 30,146 16,126 67,193 83,382 3,940 200,787 Current volume Back numbers Auxiliary publications Consortia Digital archive and member sales £ £ £ £ £ 38,606 14,415 25,548 86,858 5,768 38,606 14,415 25,548 86,858 5,768	Total 2021 £ 171,195
		Total 2021 £ 171,195
		171,195

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Income from unlisted investments	19,587	16,878
Interest receivable	3,592	600
	23,179	17,478

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

5 Charitable activities

Charitable activities
		Editorial and	Research					Editorial and	Research
	Publication	publishing	support/	Governance		Total	Publication	publishing	support/	Governance		Total
	costs	costs	fellowships		costs	2022	costs	costs	fellowships		costs	2021
	2022	2022	2022		2022		2021	2021	2021		2021
	£	£	£		£	£	£	£		£	£	£
Depreciation and impairment	16	17	-		-	33	21	20		-	-	41
Current volume	11,710	-	-		-	11,710	19,765	-		-	-	19,765
Auxiliary publications	521	-	-		-	521	570	-		-	-	570
Commission payable	38,793	-	-		-	38,793	22,753	-		-	-	22,753
Consultancy costs	-	16,010	-		-	16,010	-	29,701		-	-	29,701
Publishing expenses	-	11,298	-		-	11,298	-	14,096		-	-	14,096
Research support/fellowships	-	-	(9,739)		-	(9,739)	-	-	132,716		-	132,716
	51,040	27,325	(9,739)		-	68,626	43,109	43,817	132,716		-	219,642
Share of support costs (see
note 6)	32,337	32,337	-		-	64,674	26,775	26,775		-	-	53,550
Share of governance costs
(see note 6)	-	-	-		20,010	20,010	-	-		-	17,390	17,390
	83,377	59,662	(9,739)		20,010	153,310	69,884	70,592	132,716		17,390	290,582
Analysis by fund
Unrestricted funds - general	83,377	59,662	(9,739)		20,010	153,310	69,884	70,592	(7,284)		17,390	150,582
Unrestricted funds - designated	-	-	-		-	-	-	-	140,000		-	140,000

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

6 Support costs

Support costs Governance costs £ £ Staff costs 47,130 11,783 Outsourcing of adminstration 14,782 3,696 Consultancy fees 508 127 Insurance and telephone 700 175 Legal and professional fees 832 208 Bank charges and interest 232 58 Training and travel expenses 490 123 Independent examination fees - 3,840 64,674 20,010 Analysed between Charitable activities 64,674 20,010	2022 Support costs Governance costs £ £ £ 58,913 41,244 10,312 18,478 - - 635 6,508 1,628 875 1,760 441 1,040 3,712 928 290 326 81 613 - - 3,840 - 4,000 84,684 53,550 17,390 84,684 53,550 17,390	2021 £ 51,556 - 8,136 2,201 4,640 407 - 4,000
		70,940
		70,940

Governance costs includes payments to the independent examiners of £3,500 (2021- £4,000).

7 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.

8 Employees

The average monthly number of employees during the year was:

	2022	2021
	Number	Number
	4	4
Employment costs	2022	2021
	£	£
Wages and salaries	51,389	45,005
Social security costs	7,524	6,551
Outsourcing of adminstration	18,478	-
	77,391	51,556

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

8 Employees

(Continued)

The key management personnel of the Trust are considered to be the Trustees, the Business Manager and the Editor. Aggregate remuneration and benefits for the key management personnel in 2022 was £31,018 (2021: £37,837).

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

9 Net gains/(losses) on investments

	Unrestricted Unrestricted	Unrestricted Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Revaluation of investments	(39,147)	68,279
Gain/(loss) on sale of investments	(1,392)	7,179
	(40,539)	75,458

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Tangible fixed assets

Tangible fixed assets
	Fixtures and fittings
	£
Cost
At 1 January 2022	2,193
At 31 December 2022	2,193
Depreciation and impairment
At 1 January 2022	2,030
Depreciation charged in the year	33
At 31 December 2022	2,063
Carrying amount
At 31 December 2022	130
At 31 December 2021	163

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

12 Fixed asset investments

Cost or valuation At 1 January 2022 Additions Valuation changes Disposals At 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 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 13 Stocks Finished goods and goods for resale

Unlisted investments £ 1,083,482 3,479 (39,147) (71,392) 976,422 976,422 1,083,482 2022 2021 £ £ 294,142 302,780 202,422 297,525 164,727 171,526 34,478 34,460 51,678 51,678 85,268 84,994 35,000 35,000 16,504 16,348 92,203 89,171 976,422 1,083,482 2022 2021 £ £ 1 1

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

14 Debtors Amounts falling due within one year: Other debtors Prepayments and accrued income 15 Creditors: amounts falling due within one year Notes Deferred income 17 Trade creditors Other creditors Accruals and deferred income 16 Creditors: amounts falling due after more than one year Other creditors 17 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January 2022 Released from previous periods Resources deferred in the year Deferred income at 31 December 2022	2022 £ 957 70,793 71,750 2022 £ - 63 32,802 19,759 52,624 2022 £ - 2022 £ - 2022 £ - 70,179 (70,179) - -	2021 £ 1,139 25,322
		26,461
		2021 £ 70,179 87 90,777 16,702
		177,745
		2021 £ 55,000
		2021 £ 70,179
		2021 £ 70,179
		- - 70,179
		70,179

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BIOMETRIKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

18 Analysis of net assets between funds

Unrestricted funds Unrestricted funds Designated funds 2022 2021 2021 £ £ £ Fund balances at 31 December 2022 are represented by: Tangible assets 130 163 - Investments 976,422 1,083,482 - Current assets/(liabilities) 77,120 (5,090) - Long term liabilities - (55,000) - 1,053,672 1,023,555 -	Total 2021 £ 163 1,083,482 (5,090) (55,000) 1,023,555

19 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

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