REGISTERED CHARITY NUMBER: 263783 pic POPULATION INVESTIGATION COMMIThEE Report of the Trustees and Financial Statements for the year ended 31 December 2023 Population Investigation CoTnmittee POR2.01 London School of Econotnic5 Houghton St￿l London WC2A 2AE Xeinadin Audit Limited Nightingale House 4648 East Street Epso Sutrey KT17 IHQ POPULATION INVESTIGATION COMMITTEE Contents of the Fin8n¢ial Statements for the year ended 31 Decemb¢r 21123 Page Report of the Tn￿tee$ 3to9 Report of the Independent Auditors Ioto 12 Statement of FTl7ancial Activities Balance Sheet 14 Cash Flow Ststement 15to16 Notes to the Financial Statements 17to24 Detailed Statement of Financial Activities 25to26 Appendix l - Activities during the y¢ar 27to28 Appe￿diX 2- Index ts) Populotion Sh4dies. Vol. 76.. 2022 29 to 31 POPULATION INVESTIGATION COMMITTEE Report of the Trustees For the year Cnded 31 December 2023 The trustees present their report with the financial statements. of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recummended Practice applicable to chariti¢s preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Jreland (FRS 102) (effective l January 2019). REFERENCE AND ADMINISTRATIVE DETAILS Regi$t¢rcd Charity number 263783 Printipal address POR.2.01 London School of Economics Houghton Sireet London, WC2A 2AE Auditors Xeinadin Audit Limited Nightingale House 46-48 East Street Epsom Surrey KT17 IHQ Solicitors Bates, Wells and Braithwaite Cheapside House 138 (:heapside London. EC2V 6BB Bankers Santander UK plc BBAM Bridle Road Bootle Merseyside. L30 4GB National Westminster Bank PLC 250 Bishopsgate London, EC2M 4AA The incorne of the Cornmittee is used solely to further the aims as laid down in the Constitution. Page 3 POPULATION INVESTIGATION COMMirrEE R*por¢ of the'frustees for the year end¢d 31 December 2023 STRUCTURE, GOVERh'ANCE AND MANAGEMENT Governing document Thc charity is govenied by the Constitution registered by the Charity Commission on 23rd February 1972 and amended by an Exiraordinary Resoluti￿1 dated 14th Apfil 1987 and approved by the Charity Commission. With the approval of the Charity Commission. the Constitution was again amended oil 14 October 2021, primarily to limit the terms of office of trustees. Trusteo I'he Committee had nine members at tlie beginiiing of 2023. all of whom were trustees. The Scholarship Cotnmittee, which is ¢1)nslituted so that there 15 no eonfiict with institutional affiliations was enlarged to three meinbers. The trustees also include a repr¢sentative of the Office for National Stalislics & a represeniative of rhe London School of Economics. With the Rew time limi15 on maximum length or service for trustees, and under the transitional azTangellwits, Profe850r lan Timaeus resigned &$ a Iru8tee at the 2023 AGM. Trusiees have agreed to give one year's nottc¢ if th￿Y intend to resign before their terms expire. to allow sufficient lime io appoint a suitsble r¢placemenL who w'ould be fully briefed on the role and res]y)nsibilities of a tNstee before taking up Lh¢ role. New trustees dre appointed on the resigiiation of an exi51ing truslee. Afterd1￿u5SiOo betwecn the tnjslees on an &ppropriate replacement, should it be agreed ihal one is required. Trusttes al'e always persons of rcputation and high standing in the kN)pulatioll studies field. New truste¢s are asked to confirm (l￿t Ihcy are eligible arjd have a full uiiderstanding of ihe role of a irustee before appointmeni and are sent relevant Charity Commission publications. On appointsnent, neiv trustees receive an induction pacK in¢luding further Charity Commission publications on the role of a trustee, the previovs yeag5 Annual Report and Nlinutes Df the AGM, logether with the briefiiig prepa￿d for the previous AGM, The General Secretary of the PIC is available to assist with arty queries that aris¢ ab(vul the responsibili¢ie5 of & trust At the 2022 AGM, it was 88reed that Dr. Ben Wilson (University of Stockholm) be invited to join the CoMmitÈ¢e and was appointed as a trustee (ktober 2023. At the 2023 AGM, It was ¥uggested that Jose Martuel Aburto be invited to also join the coinmittee llnd was appoinled as a truste¢ Novemb¢r 2023. Poge 4 POPULA TION INVESTIGATION COMMITTEE Report of the Trustees for the year ended 31 December 2023 Committee meinbers and trustees in 202.3 were: Chair.. Professor Wendy Sigle (Popul¢Tlion Sthdies edifor)- until 2028 Hon. T￿&SUrer. Pr￿fessOr Tiziana Leone (￿s0 ￿Prese1)tIng the London SchLN)l of Economics) Treasurer until 2027, truslee to 2031 Dr José Manuel Aburt(v- Noveiiiber 2023 to AGM 2026 (renewable to 202912032) Professor Jane Falkingham - uniil 2024 Professor Emily Grundy - until 2027 Dr Ridhi Kashyap (fmm October 2021)- until 2031 Professor Hill Kulu (Scholarsl)tp CommitlL'e) - until 2030 Professor Alice Reid (Poputhiion Siz￿les editor. Scholarship Committee Chair)- to 2026 Steve Smallwi)od (representing tlie Office for National Statistics) - to 2025 Professor lan Timaeus- io October 2023 Dr Benj￿ll1n Michael Wilson- October 2023 to AGM 2025 (renewable lo 202812031) Staff of Ihe Committee: At l January 2023 the PIC retsined two members of staff, Anne Shepherd #nd H¢len Spriggs, the PIC General SeLretary and assislant Gen¢ral Secr¢tsry. This rol¢ manages the cditorial office of the Journal, assists th¢ Edilor-iii-chief and Editors of the Joun)alJ provide5 a Secreiariat for the Brit13h Society for PopLtlalioii Studies, and is responsible for all administrativ¢ functions in the PIC office. including producing final draft accounts for the PIC and the BSPS, administering ihe Scholarship scheme. Both statTmembers worked two day5 a week in & job shar4 with arrangements made for Helen Spriggs to take over the General Secretary role in 2024. During 2023, they worked primarily from the PIC office at LSE, wilh re￿rdS b¢ing saved to the LSE OneDrive, where th¢y can be accessed by others if ￿¢￿sSary. Po8¢ 5 POPULATION INVESTIGATION COMMITTEE Report of the Trust¢es fur the year ended 31 December 2023 OIUECTIVES AND ACTIVITIES Obj¢¢tives and aims The main objectives of Lhe co1￿Minee are to promote tl)¢ training of demogr&pliers in the UK, en¢oiir&o¢ research in the field of population studies to disseminate the results io as H'ide an audience as PQS8ible. The Cornmiitee has referred to the Charity Comniissjon's genei'al guidancc on public bcnetit when rcyieiving its aims and objectives and ih plann&ng its futLEre activlties. l o fulfil its objectives, the Commits¢e owns a journal. Poptslotlon Sludies, which has & world-wide circulaiion. This is published and distributed on behalf of the Comniittec by Routledge Joumal&ryaylor and Francis Informffj although the editors iEtain Lompl¢te editorial control. The Committ¢e awards schol8rships for postgraduate training in population studies, cbrrently iwo to three per year, (see Aclivjlje.% cltsring ilie - appe#dKx l) and give5 o¢¢asional special grants for furth¢ring d￿nI)graPhIC knowledge. The Commiti¢e SL¢PPOrts the Brilish Soclelyfor Popiilotion S¢udle& by providing the Sooiety's secretariat an(t again in 2023. by rt)aking a grant of £12.000 iowards the running roscs of the sccretarffiat. The BSPS is a registered charity (number 266161), wliich 81s0 aims lo disseminate inforniation on population studies research. li is anticipated thai the Committee. in pursuit of ils objectives and aims, will rontinue to publish tlie Journal foi. lh¢ fores¢eable future, and will conlinue to 5UPPOrt BSPS. CFr#nt making poliL'y The Coinmittee alin$ to utilise surplus income from current and previous years to award an annual grant io subsidise the secretarial ofthe British Soctety for PopulAiion Siudies. In 2023 & 2024 Ihe Committee will conlinue to support the poylgraduate study of demography via th¥ scholarship ￿heM¢. Risk m3n4£ement 'rhe majoi risk5 to whicli Ihe Charity is exposed, as identified by the Trustees, have been reviewed, and sysieins haye b¥en e51ablisl)Ld to mitigate those risks. A 51rate¥y for dealing with residual risk ha5 been devised. The risk mwiagement polKcy ix reviewed annually b} th¢ TNst¢es at th¢ Annual Gei)erdl MeeEing. The critical risk register is revieived annually by the Genernl Secretary. ¥vho reports. to the TrLlStees in advance of the Annual General Meeting. P￿e6 POPULATION INVESTIGATION COMMITTEE Report of the Trustees for the year ended 31 December 2023 FJNANCIAL REVIEW Reylew of financial tranM¢tlon$ The fjnattcial statements sel out on pagc$ 13 to 26 sunima¥ise the tr3nsaction5 of the Charity during the year ended 31 December 2023. Income from Taylor and Francis increased by £5,936 from the previoiis year, due to new 'r¢ad & publish, agreements being estsLblished by the publisher. Th¢ editorial office expenses payment from Taylor & Francis remained the Same as the previovg year. The annual JSTOR royalty decreased by £176. primarily reflecting the exch&ng¢ rate at the time of payment. Investment income increased by £2.508, due to the general increase in interest r8t¢s. In MI￿￿￿1 2022. £30,000 was invested in a Cambridge & Counties Bank 2-year fixed rate bond paying 1.7Yo annually. Thls matured on 2 April 2024. Two scholarships werc awarded in the yw. Expenditure was tightly controlled, as ever. Net incoming resources bef(Ire revaliiation of the COIF shares showed a surplus of£17.776 on the General Reserve (including the editors. discretionary fund). Freelance copyediting costs. which are the larbyest eleinent of cdiloriul expenses. it7creased by £2,370. Overall expenditure reduced by £17,643 on the previous year. There was an unrcali5ed gain on the value ofilie COIF shares at the end of the year of £8,424 (2022- Ioss of£l1,861). The overall Surplus on the year, atier recognising the unrealised gain on the value of tlie shares, was £26.200. The Committ¢e invcsts its funds within the parameters set out in its Constitution. Income shar¢5 in thr Charities Otficial Investment Funds 8re included, with a value at the b¢ginnin8 of tlie year of £90,162 (original purchase pri¢¢ £49,580). The market value of the shares on 31 December 2023 was £98,586. e7 POPULATION INVES'fiGATION COMMITTEE Report of the Trustces for the year ended 31 December 2023 Res¢rves policy Th¢ ComrTEiltee needs reseryes to miti8ate the impact of any fu￿re loss of income from th¢ publication of the Journal. The resentes policy did not change in 2023. Based upon ai) estimace of the exptnditUTe for 2024, the l¢vcl of reserves required was £127.(K>Q (£125,000 Èn 2023). Free reserves stsnd at £240,535 at 3 1st December 2023 {2022: £214,335). Willi the increase beiiig a combination of the inorease in value of the COIF shares & the surplus on ihe general fund in the year of £17,776. Reserves may stabilisL as cliariiable expenditure is sei each year at a ￿￿￿￿8¢able level above anti¢ipaÉed iiicome, alihough allthwance is also n)ade for an increase in the value of the COtF shares. Fund$ Currently. the Comirittee retains an unrestricted fund, the Genera] Fund, which covers mosl ouigoings. At the end of 2023. the single ￿StrIcted fund, establis1)ed iii 2009, has a nil balanee. The nomiiiated accoiint is for u8e by the Joumal as the editors deeide. The General Fund represer]ts the aceumul8ted surplus from publishing g¢tivities, and all incoming r¢50urces other than reslriLted and noininoted funds are paid into thls. Page 8 POPULATION INVESTICATIOIY COMMITTEE Report of the Trustees for the year ended 31 December 2023 STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible for prewing the Report of the Trustees and the financial statements in accordai)ce with applirable law and Unit¢d Kingdofft Accoiinling Stdndards (United Kingdoin Genernlly Accepted Accountin8 Practice). Thc law applicable io charlties in Englllnd 8nd Wales, the Chorlties A¢t 2011, Charity {Aceounts and Reports) Regulations 2008 and ihe PTovision5 of the trnsr deed requires the trustees to prepare financial slatemenls for each finan¢ial year wl)ich give a tnt¢ ahd fair vÉew of the State ofaff4irs of the charity and of the inc02ning resources and applicatii)n of resources, including the income and expenditure. of the chttriiy for thot period. In preparing those financial statements, thc trustees are required to sel¢cl suitable accounting policies and then apply them Ltpnsisiently, observe the Inethodb and principl¢s in the Charity SORP,. make judgements and ¢stimates tliat are roasonable and prudent. state whether applicable Standards have be¢n followed, subject to any material departur¢5 dÈsclosed and explaii)¢d in thc financial statements. prepare Ihe financial statements on the going ¢on¢¥rn basis unless it is inappropriate to presume that the charity will wnttnue in business. The tTUStees are responsible for keeping proper accounting retords which disclose with r¢&%onable a￿UraCY at any time the fiAttncial position of the charity and to enable them to ensure that the finajiciul slaletnents comply wilh the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provision$ ofthe trust deed. They are also responsible for safeguarding the asse15 ofthe charily and hence for taking rea501￿bI¢ steps for ihe prcv¢ntion and dete¢tion of fraud and other irregularitics. ON BEHALF OF THE BOARD: Professor T. Leone- I lonorary Tr¢asurer Profe5SOT igle- hair Dat¢: .. P48e 9 Report of the kndeDtttdtn( Avdilor5 to the Tr4$t¢es gtlke Poptslatton love$tixwtiDn Commttt Oplnitstt We hov¢ %udil¢d the financial statements of ¥h¢ Popul&tÈort Investigatiot) Commiit¢e for INV yrar ended 31 DttEmbei 2923 whicli comprisc th¢ Ststemenl ofFit>an¢ial A¢¢iviti￿, the Balance Sheet, th¢ Cash Flthv StsLteEtyent &rhd note8 to the rtnaneiAI statcznents. rn¢ludin8 a 5umrn8ry of Signific￿1 accouDting w>li¢ie5. Tlie fiftanciaj reponi]￿ fr4mework ihei ha8 b¢pn appli¢d in th¢ir prep3r&tion is applicdble laiv 4Dd Unit¢4 Kin8doin Accouniing Stsndards (UMi(rd Kingdom Genernlly Accep A¢¢ountlTr8 Ptaciicel. In our OPtrLion th¢ finanGial at&tem¢nts.- ive a trvc and fair vÈ¢w of the $tate of th¢ ¢hariiy¥ affaits &$ at 31 Deeember2023 and of its inGon)ing resources applic8t4oD ofresour¢es¥ fgr the ￿ar then e#dd.. have been prop¢rly pr¢parEd in a¢¢ordance WEth Unii¢d Kin8dom Gener￿ty A¢ccpted Accouniing PrkCtl¢¢" and have l)¢rn pjtpared acco¥danGe with the Tequiremtnts of th¢ Ch8rilfjes Ac12011. BASIS for opinlo We ¢onduued our otsdil accordar￿ with InleFnaito￿I StaEtdatds on Auditlhg {UK) 08As {UK)l wlicablc 14w. Our I¢SP(>DStbiliti4$ under thosc 5tandLrds are further described in the Auditors, respoo5ibiliti£g for the Audit of the finiThGial staicillents sectton of our report. W'e ale indepEnd¢nt of the chariiy in ￿cOrdance with the ahi¢al t¢quirements ihat are relev&nl lo our audii of the finan¢iaJ staleni¢nts in ihe UIL including the FRCS Ethical Standard. and we have fulfilled our oth¢r ethical r¢spoEJsibilitie8 in aecordan¢e with these ￿9￿tr¢Ments. We believe that the oudil tvidenc¢ wehave obtaihed 1$ sutyicient 4Lppropriatc to provid¢ a basss for our Op￿l￿n. Cou£lnsion5 r¢Jating to %OlR¥ eon¢•rM In auditimg die financial 5ta1¢nxnts, we hav¢ conciuded that Ibe trus*¢5' USE ofthe 8oÈn8 ronq¢rn basis of accourfiD8 ID the prLyaralioa of ftManci#l staiem¢n15 is appropriai¢. Ba￿￿ on the WO￿ we have performect, w¢ hHi'¢ iiot idrndfied ftny material uncenainiie5 relaiin8 to ¢veiits or¢onditioiis that individually or collEe¥ivtly, MRY ¢qSI significani doubt on th¢ ¢hY¥rity's &bilit>' io continu¢ as a 8OLn# for a period of least twelve moftths from when the finanoial stht¥m¢nts authoristd for i8¥ve. OUT resp0tt5ibiliti¢5and the resport5ibilsLbes of the irus*tswifhJY5P¢LXto ￿t￿cern are d¢s¢ribed ih¢ rel¢vAntx¢¢ions ofthis r¢porL Othor information Thetrusiee5 8re T¢sponsible for tI￿other iAformaLlon.Theotlw infonn*lontompn'sÈSthe l>TrfonnatiDn included tn the Annts&l Report, other the fillanehml statrments and ouy Report of the Independttr)tAuditors thewn. Our opinion on Ilje f1Tr4th¢i61 st*effteTrts d0¢5 noi covet the thhtr ittfomiation a#d, Excepi its the extent oiheTWÉSe expli¢illy &tated in Dur rew¢, we do li￿ express any fomi of asgurallce conclusion thcreort. In conne¢tioJi with our audit of the fit1￿￿1￿1 statements, our resp¢>nsibility is to read the oth¢r infumiatioo aiid, ih doinB so, consider wh¢thcr the o￿ler illfomiation 1$ m&terially In¢0￿15t¢￿t with th¢ financi21514fcmgrtis or our knowled¥e obtained in it audil or oiherwisp Bpp¢ar$ to bc M￿CTI01]Y mis5ts*d. If we identify 5urb material It￿1)51Sten¢￿tS or appArL￿1 Material mi$s&temthts. w¢ are required ro detennine wh¥th¢r th&s gives rist to a m8Eerial mi¥sl4tui?cnl in th¢ financial s¢atements th¢mstl¥es. Ir, based on thb work w¢ have perforthed, we conLlude that there is & inateri21 misstatrment of this oth¢r inftsmffiirm. wt are requtr¢d to report that fa￿. Wt hav¢ tt(*hins to report in this regard. fvlafler5 on svhieh we iré Ytyuired to r¢pgrt by ¢xc¢p¢itsJJ We hav¢ noihing t4) report in rcsp¢ct of the following matters wh¢re tl* Ch￿I¢l¢S (Accounts ood R4x>ns) Rrsulations 2008 req¥Eres u5 to report to )'ou if, in our opinion.. tlie information wven in the Report of thc Trusit¢5 is inconsisteoi in any M￿Crial r¢spec( with the fJpwi¢i81 g¢a*ments: vr suffieienl aecoufifing retords hdve Jk)I been k2w- or Ihc fIn￿Cial sialantt)ts Are not awcehiEnt with ihe accouiiiill£ r¢¢rJrds and reÉutns: or wt bave not Jtt&iYed all th¢ Ènforniatiott and explanations we require for our 2udiL Report orth* IndtPEnde4t A￿￿110￿5 to the Trusté¢s ofih4 Pop￿19¢&0￿ Invesdg¥t¥oo ComJoltt¢e Rz$pr*nslbllltse5 of trnstvs As exploitted tDt)re fvlly in the Trustceg Responsiblllties SIAteMent, the &Te nspon5ible for the preparation of the fiTwicial 5tat¢ment5 which give a true *xd flir view, 8ud for such internal wntrol as the trustees dder4nin¢ is necessary to Enubl¢ the prepar4tsN of fjnancial siatemils thai WE free from maierÉal mis8t8tomenLwhether due to fraud or em)r. In prepar￿& the r)n4arial Smlements, tht tTu$itts are respoo5ible for &s¥tssii)g th¢ ¢haritys ability to coiitittue as a going JICLrn, dis¢losin& a5 appllrablE, Matte￿ related to goins conc¢m and using the gotn¥ con¥rrn basis of a¢couniing unl¢ss the ¢rnsites¢ither intettd to liquidafe the ch•rity or to ¢eax opcratlons, or h¥ve no r¢alistlG altsrn41iYe but to dLTr ¥0. Our rttponslbilttles for the ¥udStDf the fina4cf#l stsléments W¢ h&v¢ [￿n appoinled as auditor¥ utKler Section 144 of the Charities Act 2011 &nd report in accordan¢¢ wlth th¢ A¢t and rel¢Tr/ant re8ylaÉions made or havlng c￿￿11hereuj1dort, or forthe opinions we have fornied. XeinadTn Audit Limiied Nigkntingale House 4648 East Street Epsoni Su￿eY KT17 IHQ Page 13 POPULATION INVEsfiGATION COMMirrEE ststemenl of FRn4ncial Activitle5 for th¢ year endtd 31 Doetmber 2023 2023 Total Funds 2022 Total Fuiids" Restrictod Nomiiiated General Ntst¢s Funds unds Funds INCOME AND ENDOWMENfs FROM Royalty InY¢5tment income 3.1)00 119,807 6,459 122,807 117,047 6,459 Tot41 3.000 126,266 129,266 120,998 EXPENDITURE ON Charit4bl¢ activities Populrttion Studies Gzants payabl¢ 69A90 42.000 69,490 42.000 75.633 53,500 Total 111,490 111.490 129.131 N¢t gaIn￿(lOS$e5) oll illvv5tments 8.424 &424 (11.8611 Nel incomel(expenditure) 3,000 23,200 26,200 (19.996) TrAnsfrr¥ betw¢¢n fund 3,000 2321)0 2A200 (19,9961 RECONCILIATION OF FUNDS Tot*1 fundy bro¥Jght forward 12.461 201.874 214 J35 234,331 TOTAL FUNDS CARRIED FORWARD 15.461 225.074 240.535 214.335 Page 13 POPULA TION INVESTIGATION COMMITTEE Balance Sheet at 31 Dec¢mb¢r 2023 2023 Restricted Unrestricted Totsl funds funds fiRnds 2022 Total funds FIXED ASSETS TaJ2gible assets Investments Noles 1,152 1,152 98,586 98.586 io 90.162 99,738 99,738 90,162 CURRENT ASSETS Debior Cash at bank and in hand Investments - COIF & fixed term bonds 39,657 39,657 29,187 22269 22,269 l3,191 121,559 121.559 115,323 183,485 183.485 157,701 CREDITORS Amounls falling due within one year 'J:T CURRENT ASS>.TS LESS CURREN'f LIABILITIES 12 (42,6118) (42,688) (33,528) 140.797 140,797 124,173 NET CURRENT ASSKTS 124,173 124,173 124,173 NET AYJETS 240535 240.535 214.335 FUNDS Unrestri¢ied ￿ndS Nominated tunds Restricted fithds TOTAL FUNDS 13 225,075 201,874 15,460 12,461 240.535 214.315 The financial statenients were approv¢d by the Board of Trustees on signol on tts behalf by., . aud w¢re Professor T. ieonc- Hon."freasurer Pwftssor Pjge 14 POPULATION INVESTIGATION Com￿￿TrEE Cash Flow St4ttment for the yeAr end￿ 31 December 2023 2023 2022 Note8 Cwh noiv5 frorn operatlng activities: Cash generated from operations 8.855 Net ¢a5h provided by (usod in) operAting ctiviti¢s 8.855 22 Cash flow5 fron7 investing 4¢tiViti￿. Interest received 3.951 Net easb provided by (used in) investlng activltles 15,314 (18.305) Chang¢ in cash cash equivalents ill the reporting perfiod Cash and ￿sh equivAlent8 at the begknning of the rtporting period 15,314 (18,305) 128,514 146,819 Cash and cash equivAl¢nts at th¢ ¢nd of the reporting perfiod L43.828 128.514 Page IS POPULATJON INVF.STIGATIOY COMMITfEE Notes to th¢ Cash Flow StatemeDI for the year ellded 31 D¢cemb¢r 2023 RECONCILIATION OF NET INCOME TO TrIET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net An¢om¢ for the reporting period (as p¢r the slatem¢nt of finanei¥l activities) Adjustments for: Depr¢¢iation charges Fixed asset expendilure Interest received Uiuealised (gain)110&s on investments Decreasc/(increase) in debtors (De¢rease)/increase in creditors 26,200 (19.996) 288 (1,440) (6,459) (8,424) (10.470) (3,951) 11,861 2,445 12 615) et cgsh provldcd by (used In) opernting Activitles ANALYSIS OW CASH AND CASH EQUIVALENrs 8.855 22.256) 2023 2022 Cash at bank Investments- COIF & fixed t¢mi bollds 22,269 121559 13.191 115,323 Total tash and ca&h equivAlellts 143 828 128514 Pa8¢ 16 POPULATION INVEfflGATION COMMITTEE Notes to the Financial Ststements Tor the year cnded 31 December 2023 ACCOUNTING POLICIES Aecounting ¢onvention The financial statements of the charity. which is a publt¢ b¢nefit enttty under FRS 102. hav¢ been preprcd in accordanc¢ willi the charities SORP (FRS 102) 'Accounting and Rcporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounL8 in accordance with the Fin8nc.ial Reporting Standard applic8bl¢ in the UK and Republic of Ireland {FRS 102) (Effcctive l January 2019),. Financial Reporting Standard 102 'Th¢ Financial Reporting Standard applicable tn the UK and R¢public of Ireland, and the ChaTities Act 2011. Thc fiiiancial statements h8v¢ been prepared under ihe historical cost convention, with the exccption of investmemts which are incltsded al market value. as In¢)difJed by the revaluEttion of certain as$et%. Ineooklng resour All incoming resources are included on the Statement of Financial Activities when th¢ charity is le8ally entitied to the income and the amount can be quantified with trasonable a¢¢ura¢y. Rosour¢es expended Expenditure is aecouiiled for on accruals basis and has becrl classtfi¢d Linder headiiigs ihat oggregate all costs related to the category. Wherc cost5 cannot be directly attributed to PLrticular headings they have been allocated lo activities on a basis Lonsistrnt with th¢ use of resoLire¢s. Grants offetEd subjeLI to conditions whi¢h have no¢ b¢en met at the ytar-end date are not¢d as a ommitsnent but not a¢crued as ex￿nditUre. St of generating fundx Costs of g¢nero1ing funds comprise those Costs directly attributable to publishing the Coinmittgg's journal. Governanee costs Gov¢nianLe costs are the costs assoL'iated with the govemance grrangements of the ch#rily which relate to the general rwining of the charity as opposed to those cos15 associated with charitable activity. Tangible fu¢d I￿¢1S Ikpr¢ciation is provided & th¢ followit)g annual rates in order to writ¢ off each asset over its estimaid useful lite. Compufrr Cquipfftent -20Q/ty on cost Itcms purch&8ed COSiin8 less than £200 arn not ￿pi￿lISed and are ¢xtensed through the Income Sthtem¢nt of Financial Activities. TAxRtiDn The charity is exempt from tsx on its ¢haiitable Activities. Page 17 POPULATION INVESTICATION COMMrrrEE Notes to tbe Finxocial Stst¢ments - continued for the year ended 31 Dtccmber 2023 ACCOUNTING POLICIES (CONT) Fund aecouDt14g Unr¢strict¢d funds can ￿ used in accordance with th¢ charitable objectives at the discretion of the U'usleeg. R¢stricted funds can onlybe tssed for particular ￿￿trIcted purposes within the obje¢is orth¢ charity. Restrictions arise when specified by the donor or ivh¢ii fuThds are raised fur particular restricted wirposcs. Further explanation ot'ihe nalurc and purpose of each fund is included in the nole¥ io the financial ststements. Investments Investments Rre included at clo8ing mÈd-markct V81ue at the bA12nce sheei date. Any or loss on revaluation i) taken to the Stst¢ment of financial Activities. All gains and losses are taken to the statement of financial &Ciiv3ties as tliey arise. Realised gains and losses on investments al'e ¢al¥ulatsd as the differen¢e between sales procee(L8 and opening fflark￿ value (purchase d&te if later). Unrealised gains and losses are calculaied as the diffLrence between th¢ Inarket value at the year end and opening market value (or purchase date if later). Reali.%ed and unreolised gains not separated in the Ststmenl of Financial Activities. Critl¢al Acco￿nting Judgements 8nd Key source8 of estimatlon uncert￿l￿ty In the &ppli¢atron of the Charity s aCcO￿￿tIng policie5 which a￿ described abovts. truste¢s are required to m&ke judgcrnent& estimates ond assumptions about the ¢anying valu¢8 of ass¢ts and liabilities that are noi r¢8dily appareiit Irom other sourc¢5. The esttimales xnd underlying assumptions ar¢ based on historiGJl experience and other factors considered to k relevant. Aciual r¢sulL5 n7ay differ from the3¢ ostimates. The estimates and underlying assumptiotts are reviewed on an 01)going basis. Revisions Iv ccountiii&i eslAmates are recognised in Èhc period in Th'hich the estimato is revised if th¢ revision affects only that period, or in the peri[￿ of revision and future pertods if ihe revision affects l)oth urrenl and future periods I'he key sources of estfrmatlrm uncertainty that have a signific&n( etTe¢l on the amounts re¢ogni5ol in the financial stAtements are described below.. Depreeiation Asset4 aye written down over their estimated useful lives. The Actual lives af ihe as.sets may diff¢r from those esiimates. The lives of the assets are k-ept under review and adjusted as approprtat¢. Past 18 POPULATION II¥VESTIGATIOIY COMMITTEE r4otes lo the FinanL'I81 St%temtnt&- ¢onfjnued for the year ¢nded 31 Decembcr 2023 ROYALTY 2023 2022 Taylor end FrAncis JSTOR royalty 113,678 107.742 os 117.047 INVESTMENT INCOME 2023 2022 Illiere￿ receivabl¢ 6.459 3.951 POPULATION STUDIES Total 2Q23 Total 2022 Staiycosts Editorial expenses T£nd fees In5urttnce Telephone Printing* Postage and stationery Audilor's remunerF&lion General expenses Depreciation 30,090 35.837 453 86 448 1.800 488 288 40,117 33,268 77 194 1.950 27 GRANTS PA YABLE 2023 2022 Grants pay2ble 0.0 The total grdnt paid to institutions during th¢ y¢or was as follow5.' 2023 2022 British Society for Population Sthdies P4g¢ 19 POPULATJOIY IP4VESTIGATION COMMITTEE Notes to th¢ ViMaD¢Ral Stst¢ments- Conlinued for the year end￿ 31 December 2023 TRUSTEES, REMUNERATiof4 AND BENEFITS There w¢rc no trustees, ￿1￿un¢ratioI] or otlier berief115 for ilie ye8r ended 31 December 2023 norfor the yetr tnded 31 December 2022. 2023 2022 Wage$ Nl 24.610 2,066 162 3,252 28,590 3,539 167 Apprenti¢¢ship l¢vy SuperaiinuAtion 30.090 Avernge number of ¢mployeEs No cmployte received remuneration ofmore than £60.000. Page 20 POPULATION INVES'fiGATION COMMITTEE Notes to the Financial Stxtementg- etsDtinu¢d for the year ended 31 December 2023 8. COMPARATIVES FOR THE STATEMELYf OF FINANCIAL ACTIVITIES (2022) Restricted Nominated Gen¢ral Funds Fund5 Funds Totsl Funds iN'COMtNC RESOURCES In¢oillillg resowrees froin genergied fund$ Activities for b*enerating funds lftvesttnenl income Other 3.000 14.047 3,951 17,047 3,951 Totsl iiicoming r¢sources 3.000 117.998 120,998 RESOURCES EXPENDED ChyrltAhlo Aeilvltlej Populati<>n Studies Gr8llts payable 75,633 53,500 75,633 53,500 TolAI Y*sour¢¢4 expended 129 133 129.133 Net Incomi￿ElO￿tSolllg resourees before tTansfera 3.000 <11,135) (8.135) TrnDsfers b¢tweon NET INCOMINGI(OUTGOING) RESOURCES before oth¢r re¢ognised g&ilnS 105ses 3,000 (11.135) (8,135) Otker recoglllsed gaiMnosses Gainyjlosses on inv¢stm¢nt assets Net movemeot in 3,000 L?.996 RECONCtLIATItON OF IfuNDS Total funds brnught ftsnva¥d 9.461 224.870 234.331 TOTAL FLTNDS CARRIED FORWARD 12,461 201,874 214.335 Page21 POPULATION INVESTIGATION eoMMrrrEK Notes to the Fiknattcial Stst¢ments- continueil for ihe year esjded 31 De¢ember 2023 TANGIBLE FIXED ASSET8 Computer eqiiipm¢nt COST Ai l January 2023 Additions Ai 31 December 2023 633 2,073 DEPRECIATION Ai l January 2023 D¢preciation cliarge for year At 31 December 2023 288 921 NET BOOK VALUE Ai 31 December 2023 Al 31 December 2022 10. FIXED ASSET 1Tr4VEsfMEf4TS Listed investments MARKET VALUE At l January 2023 tSP05als Revaluations 90,162 8.424 Al 31 Dec¢mkn 2023 98,586 NET BOOK VALUE At 3 R December 2022 Al 31 De¢einbeT 2023 There were no i￿eStMenE assets outside the UK. The historic cost of the invesunents V*TrS £49,580 (2022: £49.580). Page 22 POPULATION INVESTIGATION COMMITfEE r4oteg to tlte Finanelkl St2tenieDts- contiuued ror the )'ear ¢thded 31 De¢ember 2023 11. DEBTORS: AMOUNTS FALLING DUE WITHITrI ONE YEAR 2023 2022 oth￿ debtors 39.657 12. CREDrroRS': AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other Creditors 42.688 Pa8¢ 2J POPULATION INVLSTIGATION COMMTrrEE ote8 to the Fin¥ncial Slatements - eonlittued ror the Jear ended 31 Dtccmbtr 2023 1.1. MOVEMENf IN FUNDS At 1.1.23 Movcll)¢nt in funds Transfers At 31.12.23 Ullrestricted funds (leneral fiu Editors dÉs¢retionary fund 201,874 23,200 3,000 26.200 225.074 214.335 R¢strÉeted fund8 240.535 TotAI ￿ndS 214 335 240,535 Nel movemeiil in ￿nds, inlluded in the above are as follows.. Incoming Resources resourc¢s ¢xpended Gains artd MovemenE losses in funds Unrestricted funds General fund Editors, discreiionary fund 126266 (111,490) 8,424 23200 129,266 RestrEeted funds S¢holorshtp fimd {111.490) 8.424 26,200 TOTAL FUNDS 129,266 111.490 424 26200 EditoY*' Dis¢reliollAry Fund Tl)is fund represents monies lo bo used at the d?screÉion ofthe editors of the Journal. It d0¢5 noi cover the custs of copy¢diZing a5SiSt#n¢e for regulor i￿￿eS of dic JDiif17al bui fftay be used to offs¢t th¢ costs of upplem¢nt$ or 5peLial Issucs. Tlier¢ weie no Charges to lh¢ fuiid iwTr 2023. Scholarship Fund Ciirrently, iio fiinds are h¢ld in ttit re8trict¢d S¢liolarship Fund Th¢ noks fonn part olthe5¢ fJnanciBI stalem¢Dts Page 24 POPULATION IY4VESTIGATION COMMirfEE Detailed Statement of Fln211tial Activities for the year ended 311)er¢mber 2023 2023 2022 INCOMING RESOURCES A¢ti14ti￿ for generatlng funds Taylor ar￿ Francis JSTOR royalty 113.678 107,742 9,305 122,807 117,047 Inw¢stment fineom¢ Interest receiTr'able 6.459 Totsl incomin¥ resources 129266 120,998 RFtsOURCES EXPENDED ChArltsble exp¢nditure Salaries l>ostaye, printing and stalioiiery Editor's fe¢s Editorial expenses InsuraDce Telephone Auditor's remuneration General expensas 30,090 449 16,000 19.838 453 85 1,81)0 775 40,117 194 16,000 17,268 77 1.950 27 69.490 75,633 Charitablt 4ctii'itles fjr4ntS to insEitutions Grants lo individuals i?,000 30.OVO 8,500 45,000 42.000 53,500 Pa8e 25 POPULATION INVEsfiGATIQIY COMIMIThEE Detailed Ststenitn¢ of Finanti&l Activities for Ib¢ yethr eThd¢d 31 December 2023 - ¢OA)tinued 2023 2022 Total r¢soureu expended 111,490 129,133 Net Ineomel{expendi¢ure) before g¥dins alld lo¥ses 17.776 (8,135) ReAlised recognised gains and losses Realised gainsllo.8ses on fixed asset investmenis 8.424 (11,861) Net iueomel(exptttditur¢) (19,996) P88e 26 POPULATION IIYVESTIGATION COMMirfEE Rcport of the Trus¢¢¢s r the year end¢d 31 De¢¢mber 2023 APP£NDIX I ACTivrriES DURING THE YEAR Seholarship Funds Scholarships awarded are funded solely by the PIC. All awards in 2023. as kn previou5 years, were limited to Masters, courses in populdtion studies which the Scholarship Comniittee had approved for th¢ hiEh pioportion of demographic training offcr¢d. Up to three wer¢ on offer in 2023. In 2023, thTee tspplicaiions were Invited from each DTC eligible for the scheme. Three applirations were received from the London School of Hygiene & Tropical Medicine iwo from the Ilniversily of Southampton, and three from the London Schi>ol of Economics and Political Science. Awards were made to Tess Kilburn for th¢ Msc Healih and Internalional Developmenf (Pop￿all0￿ Siudies) at LSE. and to Louis Rafftay for thc Msc Social Rescarch Melhody Mjiih Appligd Siali&lics ai Southanwton. Thememb¢rs of ihe Scholttrship Coinmillee for the 2023 awards were Professor Alice R¢id (Chair). PrOf￿sOr Hill Kulu & PTofessor Kid￿, Kashyap. Page 27 POPULATION INVESTIGATION COMMITTEE Report of the Trustee5 for the year ended 31 December 2023 British So¢ie*y for Population Studies The 2023 BSPS Annual Ci)nfrrence was an in~person event. celebrating 50 years of BSPS. Over 250 attended over the course of the two full days. The PIC hds continued to provjde a ￿11 SL'LfLtariat foT the BSP.S, primarily funded by a PIC tdlowiince for this purpose. The BSPS website is maintained by the PIC, who are also responsible for keeping the BSPS financial recoTds. PopHlot¥on Siudie The Journal is now in die t￿]rd >'e8r of a five-yeDr contrt¢ct with Taylot & FrancislInfornia on the same lerrns as the pr¢viou5 contracL but with caveats should overall income fall during the ¢ontract period. In 2023, oiierall income incr¢ased. owing to the growih of ncw models replacing traditional subscriptlolls, SULli as read & publish deals which covet free or reduced-price open ac¢ess publishing whilst maintaining access to all published content. The future ol hybi'id journals remain5 unclear. No immediate sub8lantial fall in income is foreseen in the immediRte future, Th4ih the ¢oniract b&ing renewablc on the same lenns to 2028. Tliirty PP4pers M'ere published in 2023 in three is8ue5. Sixteen papers wex¢ open access (fourteeii in 2022). A Substantial backlog of papers awaiting publicat20n iii an i5SUQ are oiiline in ifirst. These are priinarlly open access pape17. The Editori*l Iloard of th¢ Journal is shown belou,. DurinLJ th¢ year, Dr. José m￿l￿e1 Aburto {University of Oxford allid LSHTM) accepted ihe invitation to join as cditor, following the resignation of Prot"essor Mikko Myrsk)'ia. Professor John F.rmisch (Ediloi'.in-ChieD Dr José Manut'l Aburto Profewr Franeesco C. Billari Professor John Cleland Professor Andrew foster Professor Hill Kulu Professor John McDonald Professor Tom Moultrie Proles¥or Brienna Perelli-Harris Professor Alice Reid Professor Wendy 8igle Professor Rollald Skeldon Dr Alysoll V3ll Raalte Page 28 POPULATION INVESTIGATION COMMITTEE Rcport of the Trustees for the yPAr end¢d 31 December 2023 APPENDIX 3 INDEX to Popults¢ion StMdie5, Volum¢ 77, 2023.. In order of publication: Issuo I: March 2023 Ryohei Mogi, Ester La72ari Jessica Nisén & Vladimir Canudas-Romo Cross-sectional average length of life by parity.. Country compaTiSOllS 1-14 Jiaxtn Shi, José Manuel Aburto. Pekka Martikainen, Lass¢ Tarkiainen & Alyson van Raalte A distributional approach.to meisuring lifespan stratittcation 15-33 yan K. Mllsters soU￿es and sev¢rity of bias in cstimates ot the BMI-mortality a550cialion 35-53 Isaure Delaporte & Hill Kulu Interaction between childbcaring and partnership trajectories among immi pplication o rants and their des¢¢ndants in Prance.. An multichannel sequ¢nce analysis 55-70 Katherine Kecnan, Kieron Barclay & Alice CJOi515 Health (xit¢omes of only children across the life course: An Investigation using Swedlsh register data 71-90 stein Kravdal. Jonathan Om & Bj0rn-Atle Reme Mentsl health benefits of cohabitation and marriage: A long1tt￿1nal At￿ly5}S of Nonvegian regyister data 91-110 Fabrizio maZ7￿n￿a Nicolo Gatti Cultural differences. intergenerational contscts. and the spread of Covid-19: Evidence from Swiss language regions 111-121 Min Zhou & Wei Guo Sooner. later, OT n¢vcr: Changing fertility intentions due to Covid-19 in China's Covid-19 epi¢entre 123-140 Emily Smith- Gre¢nawa Is the mortality-fertility n¢xu5 genderedg A research note i)n sex differences in the im ct of siblin Page 29 141-151 Yingyi Lin mortalftty on fertility preferences Migu¢l Requen4 David Rcher & Alberto Sanz- Cyirneno Fertility and contraception.. The ex born in the first half of ¢lie Iwenti¢t riencc of Spanish women cenlury 153-162 Issue 2: Jujy 2023 Tian u Shert, Ester LÉwri And liadimir Canudas- Romo Th¢ contribution of survival to changes in tlie net Teproduction rate 163- 178 Ewa Ba r4 Tiziana L¢one o M rskvla Forecaslifig of coliorl fertility b educational level in countries ith lsmited dats availabili e case of Brazil 179- 196 Martitt Kolk The i'elationshi between life-course accumulatLd income and childbearin Iswcdish men and women born 1940-70 Polarized adult fertility patterns following early Eydrental death 197-216 Éva Lleaujouan iu]d Ann¢ Solaz 17-240 D. busie L¢¢, Natalie Nitsche a￿d Kieron Barclay Body mass index in early adultho￿ and transltion to rust birth: RaC1￿}ethnIL and seK differences in th¢ United stat￿ NLSY79 Cohort 41-262 l.yd£a Palui)Ibo, Ann Berrin8ton, Peter Eibich andA nese Vitali Uncertain steps into adulthood. Does econoniic precariousness hknder entsv into the first ¢fvresjdetsti￿ arthershi the UK? 63-290 Mauricc Anyawie Etnd Danftel T. l.IchEer Children of imthigjrants: Racial as30rtativ¢ mating and the transition tr) Adulthood c.aroline Uggla and Ben WILson Parental age gaps among immigrants and tlieir descendants: Ada tation across tinie and enerations? 311 334 Solveig Glestad Christiansen and Oystcin Kravdal Number of children and disability pension due to mental and musculoskelcial disorders: A longitudlnal register- based slud 335 - 346 Simona Bignami-van Assche, Dani¢la Ghio and Nikolao¥ I. Stilianakis Demographic risk factors, healthcare utilization, and mortality durmg the first year ot"th¥ Covid-19 pandemic Austria, German and Ital 347- 358 Issue 3.. November 2023 Julia Mikolai a[￿1￿111 Kulu Partnership and fertility tra'ectories of imtni descendants in the lJnited lingdom: A mulu event histo roach rants and evel multistate 359-378 Elena Pirani and Daniele noli Chkldbearing across partn¢r5hips in Ital . Prevalence, deino ra liic correlates &nd social ra ient Pgge 30 379- 398 Alessandro Di Nallo, Katya Ivanova and Nicoletta Balbo Repartnering of women in the United Ststes: The interplay bctwe¢n motherhood and SOCI0￿¢¢0￿0￿1c status 399- 416 Glenn Sand5tr0m and Maria Stanfors Socio-economic stat￿9 and the T1￿ of divorce in Sweden: The case ofthe 1880-1954 marria e cohorts in Vmsterbotten 417-436 Letlcia J. Marteleto .41exandre (iori MaIa and CrislÉna Guimarae3 Rodri ues Climat¢ •id fertility arnid a public health crisis 437-458 Anna Baranowska-Rataj, Kieron Barcla , Joan Costa-Font, ikko Myrskyia and Berkay 14Et¢rm birth and educatÉoaal disadvantage.. Heterogeneous effects 459 - 474 Jesus-Daniel Zuu¢ts- Borbtsa, José ￿laLUt1 .4burto. lfiaki Pernwn Virginia Zarulli and I er. Janssen anny Contributions of ageyups and causcs of death to the sex gap in lifespall variation in urope 475 - 496 Miguel Gonzaiez- Leonardo and J¢roen The im 2020- ci of Covid-19 on demographic c¢)mponents in Spakn, I: A sc¢nano apprnach 497- 514 Aude Bernard al￿ Sergi Linking Aniemal and intemational migTa120n over the life course: A sequenc¢ analysis of individual migration trajectories in 515- 538 Ashira Menashe-OTcn and Gu Stecklov Age-spL'cific sex ratios: Ex￿ni1]Ing Tural-urban variation within low- and middle-lncome countrkes 539- 558 Pa8e31