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2022-12-31-accounts

Association for the Study of Animal Behaviour Limited

(A Charitable Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year ended 31 December 2022

Company Registration Number. 01182908 Charity Registration Numbers. 268494 and SC037584

Association for the Study of Animal Behaviour Limited DIRECTORS AND ADVISORS

DIRECTORS AND TRUSTEES

Prof D J Hosken Prof P Stockley Prof A Radford Prof M Siva-Jothy

REGISTERED OFFICE

50 Crimicar Lane Sheffield England S10 4FB

AUDITORS

RSM UK Audit LLP Chartered Accountants Rivermead House 7 Lewis Court Grove Park Leicester Leicestershire LE19 1SD BANKERS

Santander UK Plc Bootle Merseyside L30 4GB

Lloyds Bank Plc 32 Oxford Street London W1A 2LD

INVESTMENT ADVISORS

Brewin Dolphin 12 Smithfield Street London EC1A 9BD

Page 1

Association for the Study of Animal Behaviour Limited ANNUAL REPORT OF THE DIRECTORS AND TRUSTEES

The Directors have pleasure in submitting the Annual Report and Consolidated Financial Statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s trust deed.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company is a charitable company limited by guarantee and is governed under the Memorandum and Articles of Association. The Charity is registered with the Charity Commission under registration number 268494 and registered with the Office of the Scottish Regulator under registration number SC037584.

Association for the Study of Animal Behaviour Limited (ASAB) is run by a Council elected by the membership at the Annual General Meeting. Council consists of President, Secretary, Treasurer, Executive Editor of the Journal and about twelve other Council members. With the exception of the Executive Editor, Secretary and Treasurer, members serve on the Council for three years. There is a Grants Committee, Ethical Committee, Education Committee, Media and Policy Committee and a European Officer who liaises with other European societies. Council meets three times a year, immediately before the conferences. Most of the other committees also meet three times a year, although workload rather than a set timetable often drive the frequency of their meetings. The AGM was held during August in 2022.

ASAB has four Directors and Trustees: The President, Executive Editor, Treasurer, and Secretary, who are generally regular members of council for a minimum three-year term prior to appointment and are considered the key management personal of ASAB. This ensures familiarity with the mission and the dayto-day running of the Charity. They also receive specific in-house training if needs arise before taking on their respective roles. Directors and Trustees also receive documentation and updates from the Charity Commission to enable them to carry out their responsibilities.

ASAB continues to underpin much of the research, publication, conference activity and education in its field of academic endeavour. Full details are reported verbally yearly at the Annual General Meeting, the text of these reports is published in the September newsletter (and therefore also on our website: www.asab.org).

ASAB relies on Council and other members to manage the academic and much of the practical activity of the Association. Conferences are also organised and run by members. Without this generous donation of time and effort ASAB could not function. The key management personal of ASAB do not receive any remuneration for this role.

RISK MANAGEMENT

The Directors and Trustees have considered the major risks to which the company is exposed and are satisfied those systems are in place to mitigate these risks going forward. All new ventures (for example, European partnerships, Accreditation Committee) will be thoroughly assessed for risk.

There are three major financial risks to the charity, in decreasing order of potential impact and importance:

  1. Declining income from the journal Animal Behaviour could occur as a result of reduced popularity, reputation and market share. This risk is mitigated by: (i) a contract signed with a world leading scientific publishing company (currently Elsevier); (ii) a publishing contract which currently has a minimum journal income profitshare agreement, and (iii) a five-year contract turnaround which allows ASAB to change publishers and seek improved financial deals if it was financially sensible to do so. The charity mitigates risk against declining journal competitiveness and world-leading reputation by commissioning an internationally excellent editorial board and maintaining a close working relationship with the relevant Elsevier publishing team to maximise profile, sales and profit.

Page 2

Association for the Study of Animal Behaviour Limited ANNUAL REPORT OF THE DIRECTORS AND TRUSTEES (continued)

RISK MANAGEMENT (continued)

2. Declining income from investment portfolios. This universal risk is mitigated by holding an appropriate level of capital funds in a risk-balanced investment portfolio and commissioning the leading wealth management company Brewin Dolphin’s charity experts to maximise investment return.

  1. Membership numbers and income falls. This risk is mitigated by working to maintain the reputation of ASAB as a leading animal behaviour society and providing excellent opportunities for members to attend internationally relevant scientific meetings, publish in a world class journal, and bid for grant funding.

Although we mitigate each risk specifically, the overall grant spend activity of the charity can be modified each year should any of the three main funding streams decline significantly. The charity has responsibility to fund editorial assistant and education officer roles, so retains a cash deposit portfolio outside of share investments of about £400,000, which can be used to buffer unexpected shortfalls in income.

OBJECTIVES AND ACTIVITIES

The object of ASAB and its subsidiary undertaking is the advancement of the science of animal behaviour, the furtherance of education therein, and the promotion of study and research in animal behaviour and related subjects and the publication of the results of all such study and research and certification of clinical animal behaviourists.

There are nine main ways in which the Association seeks to further these objectives:

Publication of an Academic Journal

ASAB owns what is regarded as the leading scientific journal in its field - Animal Behaviour. The journal is published by Elsevier, appears monthly, has a print run of several thousand, and is held in almost all major international higher education institutional libraries. It is available to Internet subscribers through the Elsevier “Science Direct” system.

Research and Travel Grants

ASAB actively supports research into animal behaviour by offering members and officers financial support through its own system of research grants. All grants are paid to the institution hosting the research, and recipients must be qualified to fulfil ASAB’s charitable aim to advance the science of animal behaviour. Research grants are available to members following competitive peer review by a Grants Committee. Grants are also made to the active officers and editors of ASAB via their employing institution, with the condition that these are only spent on animal behaviour research and/or attendance at appropriate international conferences, and any publication output from the research should be considered for submission to support the journal Animal Behaviour. ASAB also sponsors workshops on topical areas of research and makes grants to support travel by members to ASAB and other behavioural conferences. All applications for funding through the Grants Committee are peer reviewed so that only high-quality research in animal behaviour is supported, and all officers and editors receiving grants are experienced and qualified animal behaviour researchers. Vacation Scholarships are available for undergraduates (who need not be ASAB members) who wish to carry out research into animal behaviour between university terms and hosted by ASAB members in leading animal behaviour research groups.

Page 3

Association for the Study of Animal Behaviour Limited ANNUAL REPORT OF THE DIRECTORS AND TRUSTEES (continued)

OBJECTIVES AND ACTIVITIES (continued)

Conferences

ASAB promotes the study of animal behaviour by holding three conferences a year. In the spring a general meeting is held at a university in the UK and early career members are particularly encouraged to present short papers and posters and participate in a one-day workshop run by senior members to provide generic research skills. In December the venue was Edinburgh. The summer meeting alternates between the traditional single society meeting (in odd years) and a joint meeting with other European Animal Behaviour societies, the Joint European Conference on Behavioural Biology (ECBB) (in even years).

Members Newsletter

Published three times a year and more widely available via the Internet, it contains details of meetings, news, views and contact details for Internet resources. The newsletter is sent out as a pdf attachment via e-mail to the majority of ASAB members.

Ethics

ASAB cares about animals. It has an Ethical Committee to promote the ethical treatment and conservation of the animals we study.

Teaching Animal Behaviour

ASAB encourages the teaching of animal behaviour in schools. It has an Education Committee and Education Officer, publishes a regular newsletter for teachers, organises workshops and produces educational books and videos suitable for use in schools. ASAB has also published books and videos suitable for use in undergraduate teaching.

Accreditation

In 1998, ASAB examined the need for a professional framework for people working in applications of animal behaviour, along the lines of the Board of Professional Certification run by the Animal Behavior Society for the USA and Canada. The ASAB working party recommended that a Certification scheme for the UK would be helpful to allow both pet-owners and professionals, such as veterinary surgeons, to select behaviourists with proper qualifications and skills. In July 2002 ASAB approved the establishment of an Accreditation Committee to set up and run a Certification Scheme for Clinical Animal Behaviourists. £2,649 was donated by ASAB to help establish the Accreditation Committee. This committee consists of ASAB members, and also representatives of the Royal College of Veterinary Surgeons, the British Psychological Society and the International Society for Applied Ethology. Currently certification is offered for Clinical Animal Behaviourists working with the behaviour disorders of dogs, cats and other animals. Currently active practitioners with extensive clinical experience are invited to apply for full certification. Applicants need to demonstrate that they possess appropriate skills, knowledge and abilities, including an Honours or higher degree in a relevant subject, appropriate specialist courses, and at least three years of regular clinical experience.

The Equality, Diversity, Inclusivity and Accessibility Committee

In 2021 a new Committee was created that will focus on issues of Equality, Diversity, Inclusivity and Accessibility.

Page 4

Association for the Study of Animal Behaviour Limited ANNUAL REPORT OF THE DIRECTORS AND TRUSTEES (continued)

OBJECTIVES AND ACTIVITIES (continued)

Links

ASAB collaborates with a number of other academic societies with interests in animal behaviour, including the Animal Behaviour Society (ABS) of the USA, and participates in the biannual Joint European Conference on Behavioural Biology (ECBB). ASAB shares the profits of the journal with the ABS.

Further information on all these topics and membership is available from the ASAB homepage http://asab.nottingham.ac.uk. ASAB is a member of the Committee for European Societies of Behavioural Ecology, which promotes communication and interaction within behavioural ecology across Europe. The chair of this committee is the ASAB European Secretary. ASAB is also a member of the Bioscience Federation, The European Coalition for Biomedical Research (ECBR), and the Institute of Biology.

GRANT-MAKING POLICY

The Company provides grants to members to facilitate meeting its objectives. These include grants, primarily to students, to attend ASAB conferences and other conferences relevant to the study of animal behaviour. Research grants are also available to members to allow research into current issues of interest in animal behaviour. A grants secretary and grants committee oversee these applications, selects successful applicants, and monitors the activities of grant holders. Grants are also made available to officers and editors, who are all experienced animal behaviour researchers, and paid to their employing institution on the condition that funds are used to support animal behaviour research.

FINANCIAL REVIEW

The total consolidated funds of the Association as at 31 December 2022 were unrestricted funds of £3,572,271 (2021: £3,998,538). This is a decrease of 10.7% on the 2021 figure. The net income for the year, before adjusting for net losses on investment assets was £63,066 (2021: £32,963 net gain).

The Association’s main source of income is journal income which decreased to £550,181 (2021: £568,188). Membership subscription and sundry increased to £52,108 (2021: £28,137) while dividend income increased to £40,719 (2021: £24,814). Expenditure on grants decreased to £119,184 (2021: £151,748). While expenditure categories have altered on 2021 with respect to raising funds £74,303 (2021: £49,746) and support costs of £78,927 (2021: £49,528).

ASAB’s financial plan is to balance income and expenditure.

DIRECTORS

The directors of the Association who are also trustees, who have acted since 1 January 2022 are as follows:

Prof M J G Gage (deceased 15 January 2022) Prof S D Healy (resigned 21 March 2022) Prof P Stockley Prof D J Hosken Prof A Radford (appointed 21 March 2022) Prof M Siva-Jothy (appointed 21 March 2022)

Page 5

Association for the Study of Animal Behaviour Limited ANNUAL REPORT OF THE DIRECTORS AND TRUSTEES (continued)

MEMBERS’ LIABILITY

Every member of the Company undertakes to contribute to the assets of the Company in the event of the same being wound up whilst he/she is a member or within one year after he/she ceases to be a member, for payment of the debts and liabilities of the Company, contracted before he/she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £10.

INVESTMENT POLICY AND PERFORMANCE

The Company generates income via investments to facilitate our objectives. The Company employs a professional stockbroker (Brewin Dolphin) specialising in investment portfolios for charities to manage the funds. The stockbroker is aware of the wishes of our Company regarding the type of investments our members would approve of. The Treasurer meets with the stockbroker yearly to review investment performance and discuss potential changes.

RESERVES POLICY

At 31 December 2022, the Group held £932,563 (2021: £851,317) of free reserves, which is made up of total funds less the amount held in investments. The charity maintains liquid cash reserves of at least £400,000 to mitigate against major declines in journal income and/or investment income. This reserve value allows two years of charity activity to proceed (specifically, future conferences we are committed to and continual employment of the Editorial assistants and Education officer), in the unlikely event that all income streams cease. The two year window will allow any major reorganisations to take place, and for the charity to plan and continue its activities into the longer term future.

FUTURE ACTIVITIES AND EXPECTATIONS

Our current plan for the future is to focus effort on our nine core activities: (1) publication of a leading academic journal (Animal Behaviour), (2) promoting knowledge gain through research and travel grants, (3) supporting three academic conferences per year, (4) circulating a members’ newsletter, (5) upholding appropriate ethical standards within animal behaviour research, (6) promoting and facilitating the teaching of animal behaviour, (7) nurturing an accreditation system for clinical animal behaviourists, (8) media and policy promotion, and (9) encouraging links with societies that harness similar aims.

POST BALANCE SHEET EVENT

Since the year end the group has transferred the activities of its subsidiary undertaking to another unrelated company and the Directors are in process of winding up the subsidiary undertaking.

PUBLIC BENEFIT

By producing a journal, supporting animal behaviour education at primary and tertiary levels in schools, making grants of a charitable nature, lobbying and informing policy makers about animal welfare, and promoting education and awareness regarding animal ethics the directors confirm that they have complied with the Public Benefit Guidance set out by the Charity Commission.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the charitable company’s auditors are unaware. Additionally, the directors have confirmed that they have taken all the necessary steps that they ought to have taken as directors, in order to make themselves aware of all relevant audit information and to establish that the auditor is aware of that information.

Page 6

Association for the Study of Animal Behaviour Limited ANNUAL REPORT OF THE DIRECTORS AND TRUSTEES (continued)

AUDITOR

A resolution proposing that RSM UK Audit LLP be re-appointed as auditors of the company will be put to the Annual General Meeting.

SMALL COMPANY EXEMPTIONS

This report is prepared in accordance with the provisions applicable to companies entitled to the small company’s exemption.

On behalf of the Board

Prof M Siva-Jothy Director

Date:

Page 7

Association for the Study of Animal Behaviour Limited DIRECTORS’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS

The trustees (who are also directors of Association for the Study of Animal Behaviour Limited for the purposes of company law) are responsible for preparing the Annual Report of the Directors and Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations (2006) (as amended). They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 8

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS OF ASSOCIATION FOR THE STUDY OF ANIMAL BEHAVIOUR LIMITED

Opinion

We have audited the financial statements of Association for the Study of Animal Behaviour (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2022 which comprise the Group and Parent Charitable Company Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group and Parent Charitable Company Statement of Cashflows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We have been appointed auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusion relating of going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report of the Directors and Trustees other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report of the Directors and Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS OF ASSOCIATION FOR THE STUDY OF ANIMAL BEHAVIOUR LIMITED (continued)

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report, included within the Annual Report of the Directors and Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006, the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the statement of trustees’ responsibilities set out on page 8 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 10

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS OF ASSOCIATION FOR THE STUDY OF ANIMAL BEHAVIOUR LIMITED (continued)

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected noncompliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, Charities and Trustee Investment (Scotland) Act 2005, the parent charitable company’s governing document and tax legislation. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence with local tax authorities and evaluating advice received from internal advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to General Data Protection Regulation (GDPR). We performed audit procedures to inquire of management and those charged with governance whether the group is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

Page 11

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS OF ASSOCIATION FOR THE STUDY OF ANIMAL BEHAVIOUR LIMITED (continued)

The group audit engagement team identified the risk of management override of controls and revenue cut off as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, and substantive testing in respect of revenue cut off.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities .This description forms part of our auditor’s report.

Use of our report

This report is made exclusively to the members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011. Our audit work has been undertaken so that we might state to the members and the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, its members as a body, and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Gareth Jones (Senior Statutory Auditor) For and on behalf of RSM UK Audit LLP, Statutory Auditor Chartered Accountants Rivermead House 7 Lewis Court Grove Park Leicester Leicestershire LE19 1SD

28th September 2023 ……………..

RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Page 12

Association for the Study of Animal Behaviour Limited

GROUP STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure account)

for the year ended 31 December 2022

Notes
Income from:
Charitable activities
8
Other trading activities
4
Investments
5
Total
Expenditure on:
Raising funds
6
Charitable activities
7
Total
Net (losses)/gains on investments
14
Net (expenditure)/income being
net movement in funds
Reconciliation of funds:
Total funds brought forward
20
Total funds carried forward
20		 2022
£
550,181
65,984
41,010
657,175
74,303
519,806
594,109
(489,333)
(426,267)
3,998,538
3,572,271		 2021
£
568,188
39,279
24,855
632,322
49,746
549,613
599,359
118,903
151,866
3,846,672
3,998,538

All funds in the current year are unrestricted general funds.

Page 13

Association for the Study of Animal Behaviour Limited

CHARITY STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure account) for the year ended 31 December 2022

Notes
Income from:
Charitable activities
8
Other trading activities
4
Investments
5
Total
Expenditure on:
Raising funds
6
Charitable activities
7
Total
Net (losses)/gains on investments
14
Net (expenditure)/income being
net movement in funds
Reconciliation of funds:
Total funds brought forward
20
Total funds carried forward
20		 2022
£
550,181
52,108
41,010
643,299
71,289
511,842
583,131
(489,333)
(429,165)
3,990,161
3,560,996		 2021
£
568,188
28,137
24,855
621,180
48,022
540,476
588,498
118,903
151,585
3,838,576
3,990,161

All funds in the current year are unrestricted general funds.

Page 14

Association for the Study of Animal Behaviour Limited BALANCE SHEETS 31 December 2022 Com an Re

BALANCE SHEETS
31 December 2022 CompanyRegistration No. 01182908
Notes
Fixed assets:
Investments
14
Total fixed assets
Current assets:
Debtors
15
Cash at bank and in hand
Total current assets
Liabilities:
Creditors: Amounts falling due
within one year
16
Net current assets
Total net assets
The funds of the charity:
Unrestricted funds:
20
Total charity funds		 Group
2022
£
2,639,708
2,639,708
130,441
1,638,904
1,769,345
(836,782)
932,563
3,572,271
3,572,271
3,572,271		 Charity
2022
£
2,639,709
2,639,709
130,441
1,625,708
1,756,149
(834,862)
921,287
3,560,996
3,560,996
3,560,996		 Group
2021
£
3,147,221
3,147,221
206,897
1,005,601
1,212,498
(361,181)
851,317
3,998,538
3,998,538
3,998,538		 Charity
2021
£
3,147,222
3,147,222
206,693
994,774
1,201,467
(358,528)
842,939
3,990,161
3,990,161
3,990,161

The financial statements on pages 13 to 31 were approved by the board of directors and authorised for issue on ___, and are signed on its behalf by: 27th September 2023

Prof M Siva-Jothy – Director

Page 15

Association for the Study of Animal Behaviour Limited STATEMENTS OF CASHFLOWS 31 December 2022

Notes
Cash flows from operating activities:
Net cash from operating activities
18
Cash flows from investing activities:
Dividends and interest from investments
Proceeds from sale of investments
Purchase of investments
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
19
Cash and cash equivalents at the end of
the reporting period
19		 Group
2022
£
574,113
41,010
1,480,194
(1,498,256)
22,948
597,061
1,126,977
1,724,038		 Charity
2022
£
571,744
41,010
1,480,194
(1,498,256)
22,948
594,692
1,116,150
1,710,842		 Group
2021
£
23,256
24,855
641,871
(577,623)
89,103
112,359
1,014,618
1,126,977		 Charity
2021
£
25,078
24,855
641,871
(577,623)
89,103
114,181
1,001,969
1,116,150

Page 16

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

1 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

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. There are no critical accounting estimates and areas of judgement to note.

2 ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS 102) (Charities SORP (FRS102), the FRS 102 “The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland” including the amendments issued in December 2017 (“FRS 102”), the Charities Act 2011, the Charity and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (amended), the requirements of the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019.

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 £.

Association for the Study of Animal Behaviour Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the group and charitable company have 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.

The trustees confirm that the group and charitable company have sufficient cash to sustain its business for at least 12 months from the date of the signing of the audit report thus supporting the assertion to prepare the accounts on a going concern basis .

Group financial statements

These financial statements comprise the results of the Association for the Study of Animal Behaviour Limited and its wholly owned trading subsidiary ASAB (Accreditation) Limited, consolidated on a line by line basis.

Income

All income is recognised once the Group has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Page 17

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

2 ACCOUNTING POLICIES (continued)

Income (continued)

Funds

Unrestricted funds consist of funds which the Group may use for general purposes at the Trustees’ discretion.

Restricted funds consist of funds which are to be used in accordance with specific restrictions imposed by donors.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

As Association for the Study of Animal Behaviour Limited is unable to reclaim all of the Value Added Tax (VAT) that it incurs, all expenditure in these financial statements in relation to its activities is shown inclusive of any VAT which cannot be recovered.

Page 18

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

2 ACCOUNTING POLICIES (continued)

Grants for Research and Travel

Grants payable are payments made to third parties in the furtherance of the charitable objects of the group.

Grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant, or when the trustees have agreed to pay the grant without condition.

Investments

All listed investments are stated at their fair value as at the balance sheet date. Any realised and unrealised gains and losses from disposals and revaluations are shown in the consolidated and charity’s Statement of Financial Activities.

The charity’s investment in its subsidiary company represents the cost of acquisition of the whole of the ordinary share capital of ASAB (Accreditation) Limited.

Financial instruments

The Group only has financial assets and liabilities of a kind that qualify as basic financial instruments and are not considered to be of financial nature. Such financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with exception of investments. The investment on the recognised stock exchange is valued at fair value through the Statement of Financial Activities.

Debtors

Other debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Other debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Cash at bank and in hand

Cash at bank and in hand includes cash and monies on short term deposits at the bank, other short-term liquid investments with original maturities of three months or less.

Creditors

Creditors and provisions are recognised where the group has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pension contributions

The charity operates a defined contribution pension scheme. The contributions are charged to the Statement of Financial Activities in the year in which they become payable.

Taxation

Association for the Study of Animal Behaviour Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Page 19

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

3 LEGAL STATUS OF THE CHARITABLE COMPANY

Association for the Study of Animal Behaviour Limited is a charitable company (Company number 01182908) and is also registered as a charity at the Charity Commission in England and Wales (Charity Commission number 268494) as well as the Office of the Scottish Regulator (Charity Regulator number SC037584). The charitable company is limited by guarantee and as such has no issued share capital. The liability of its members in the event of the company being wound up is limited to a sum not exceeding £10 each.

The registered office and principal place of business is 50 Crimicar Lane, Sheffield, England, S10 4FB.

The group consists of Association for the Study of Animal Behaviour Limited and its one subsidiary. The Group’s principal objective is the advancement of the science of Animal Behaviour, the furtherance of education therein; and the promotion of study and research in animal behaviour and related subjects and the publication of the results of all such study and research and certification of clinical animal behaviourists.

4
OTHER TRADING ACTIVITIES
Subscriptions and sundry income
Application fee income – Accreditation		 Group
2022
£
52,108
13,876
65,984		 Charity
2022
£
52,108
-
52,108		 Group
2021
£
28,137
11,142
39,279		 Charity
2021
£
28,137
-
28,137

All income from trading activities was unrestricted in the current and prior year.

5
INVESTMENT INCOME
GROUP AND CHARITY
Dividends – quoted investments
Interest on cash deposits		 2022
£
40,719
291
41,010		 2021
£
24,814
41
24,855

All investment income was unrestricted in the current and prior year.

Page 20

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

6
RAISING FUNDS
MEMBERS’ SUPPORT COSTS
Education expenses
Meeting expenses
Membership secretary’s expenses
Share of support costs
INVESTMENT MANAGEMENT
COSTS
Investment management fees
Share of support costs
TOTAL
All costs of raising funds were unrestricted
7
CHARITABLE ACTIVITIES
Journal (see note 8)
Grants (see note 9)
Workshop expense		 Group
2022
£
Charity
2022
£
27,812
27,812
13,826
13,826
2,325
2,325
7,925
5,504
51,888
49,467
17,490
17,490
4,925
4,332
22,415
21,822
74,303
71,289
in the current and prior year.
Group
2022
£
Charity
2022
£
400,622
392,658
119,184
119,184
-
-
519,806
511,842		 Group
2021
£
19,473
3,377
1,725
3,075
27,650
20,149
1,947
22,096
49,746
Group
2021
£
392,864
151,748
5,001
549,613		 Charity
2021
£
19,473
3,377
1,725
1,751
26,326
20,149
1,547
21,696
48,022
Charity
2021
£
383,727
151,748
5,001
540,476

The amount of charitable expenditure relating to restricted funds are £Nil (2021 - £5,001). All remaining costs are unrestricted.

Page 21

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

8
SURPLUS ON JOURNAL ACCOUNT
GROUP
JOURNAL INCOME
Non-member subscriptions
Electronic licence
REVENUE FROM
Permission/other fees
GROSS INCOME
JOURNAL EXPENDITURE
Production and distribution
Elsevier:
Profit share
INCOME PER SOFA (page 12)
ABS profit share
Editorial expenses
Share of support costs
EXPENDITURE (see note 7)
NET SURPLUS ON JOURNAL		 2022
£
£
28,302
827,846
72,215
928,363
81,930
296,252
(378,182)
550,181
274,236
60,309
66,077
400,622
149,559		 2021
£
£
24,906
845,441
73,959
944,306
70,170
305,948
(376,118)
568,188
288,846
59,513
44,505
392,864
175,324

Page 22

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

8 SURPLUS ON JOURNAL ACCOUNT

(continued)
CHARITY
JOURNAL INCOME
Non-member subscriptions
Electronic licence
REVENUE FROM
Permission/other fees
GROSS INCOME
JOURNAL EXPENDITURE
Production and distribution
Elsevier:
Profit share
INCOME PER SOFA (page 13)
ABS profit share
Editorial expenses
Share of support costs
EXPENDITURE (see note 7)
NET SURPLUS ON JOURNAL		 2022
£
£
28,302
827,846
72,215
928,363
81,930
296,252
(378,182)
550,181
274,236
60,309
58,113
392,658
157,523		 2021
£
£
24,906
845,441
73,959
944,306
70,170
305,948
(376,118)
568,188
288,846
59,513
35,368
383,727
184,461

All journal income and expenditure was unrestricted in the current and prior year.

Page 23

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

9 GRANTS

GROUP AND CHARITY

The charity undertakes its charitable activities through grant making and awarding grants to a number of individuals and institutions in furtherance of its charitable activities.

2022 2021
Recipients of grants: No. of £ No. of £
grants grants
University of Liverpool - - 4 8,225
University of St Andrews 1 9,926 3 20,412
University of East Anglia - - 1 1,500
University of Bristol 3 23,105 2 12,309
University of Exeter - - 2 10,500
University of Oxford - - 3 20,912
University of Birmingham - - 1 1,500
The University of Lincoln - - 1 6,000
Manchester Metroplitan University - - 1 1,500
University of Glasgow - - 1 4,500
Queens University Belfast - - 2 3,000
The Open University - - 1 500
University of Vienna - - 1 1,500
University of West Scotland - - 1 2,449
University of Monash - - 1 1,500
University of Porto - - 1 1,500
University of Cambridge 1 5,000 2 19,795
University of Edinburgh 1 3,510 1 2,083
Northeastern University - - 1 9,985
University of Newcastle - - 2 3,300
Instituto Gulbenkian de Ciencia,
Portugal - - 1 4,747
University of Portsmouth - - 1 803
IISER, Sweden - - 1 2,500
Regensburg University - - 1 3,950
Stokholm University - - 1 7,400
Newcastle University - - 1 2,000
ETH Zurich - - 1 1,500
University Paul Sabatier - - 1 1,500
Bowling Park Primary School - - 1 1,019
Swansea University 1 5,000 - -
University of Aberdeen 1 1,000 - -
University of Helsinki 1 5,525 - -
University of Beilefeld 1 4,740 - -
Universitat Bern 1 4,600 - -
University of Port 2 14,769 - -
University of Vienna 1 10,000 - -
University of Vet Medicine, Vienna 1 6,145 - -
Queen’s University 1 3,000 - -
Catch Them Young public engagement
grant 1 2,000 - -
Association for Cephalaopod Research 1 4,458 - -

Page 24

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

9
GRANTS (continued)
GROUP AND CHARITY (continued)
Recipients of grants:
Max Planck Institute for Ornithology
University of Padova
Travel grants
Student conference grants
Overseas student grants
Childcare grant
Returned grant
Uncashed grants written back
10
SUPPORT COSTS
Audit fees
Accountancy and professional fees
Bank charges
Insurance
Sundry expenses
Council meeting expenses
Wages and salaries
Donations		 No. of
grants
-
-
-
41
1
1
-
-
61
Group
2022
£
27,900
17,260
2,064
2,407
10,822
15,707
2,667
100
78,927		 2022
£
-
-
-
18,774
1,617
493
(4,478)
-
119,184
Charity
2022
£
27,900
17,180
1,985
654
4,423
15,707
-
100
67,949		 No. of
grants
1
1
1
-
-
-
-
-
44
Group
2021
£
15,785
11,796
1,286
2,498
8,472
6,562
3,129
-
49,528		 2021
£
1,500
1,500
191
-
-
-
(2,902)
(6,930)
151,748
Charity
2021
£
15,785
10,400
1,221
618
4,081
6,562
-
-
38,667

All support costs have been allocated on a basis consistent with the income allocation.

Governance costs are considered to be the audit fee, council meeting expenses and accountancy and professional fees.

11 ANALYSIS OF STAFF COSTS AND NUMBERS

CHARITY

The Association has no employees. The staff costs totalling £55,603 (2021: £54,808) relate to costs recharged from Nottingham University and pension contribution of £4,705 (2001: £4,705).

Page 25

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

11 ANALYSIS OF STAFF COSTS AND NUMBERS (continued)

GROUP

The Association’s subsidiary has one employee (2021: one) who is employed directly by the group.

Group Charity Group Charity
2022 2022 2021 2021
£ £ £ £
Wages and salaries 2,667 - 3,129 -

The key management of the group are the trustees and none of the trustees received any remuneration in the period.

Three trustees (2021: one) were reimbursed expenses for travel, subsistence and computer expenses during the year of £4,932 (2021: £1,030).

13 AUDITOR’S REMUNERATION

Fees payable to RSM UK Audit LLP and its associates in respect of both audit and non-audit services are as follows;

Audit services – statutory audit of parent
charitable company and consolidated
accounts
Other services:
Audit services – statutory audit of
associates of the charitable company
Taxation compliance services
Other services		 Group
2022
£
28,076
1,824
1,350
16,030
47,280		 Charity
2022
£
28,076
1,824
1,350
16,030
47,280		 Group
2021
£
15,335
450
1,360
10,400
27,545		 Charity
2021
£
15,335
450
-
10,400
26,185

Page 26

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

14 INVESTMENTS (GROUP AND
CHARITY) Group Charity Group Charity
2022 2022 2021 2021
£ £ £ £
UK investments listed on a 624,233 624,233 581,841 581,841
recognised stock exchange
Overseas investments listed on a 1,930,341 1,930,341 2,444,004 2,444,004
recognised stock exchange
Investment in subsidiary undertaking - 1 - 1
2,554,574 2,554,575 3,025,845 3,025,846
Cash held by investors 85,134 85,134 121,376 121,376
2,639,708 2,639,709 3,147,221 3,147,222
There are five (2021: four) holdings over 5% by Market Value of the portfolio at the year end:
2022 2021
% %
AXA Fixed Interest 8.7 -
Schroder Global Energy 6.7 -
Rathbone UT Management Global 5.9 7.1
Robeco Capital Growth 5.6 -
Ishares USD Tips 5.1 -
Fundsmith LLP 3.6 5.2
Morgan Stanley Investment Funds 2.0 6.5
Xtrackers 1.7 6.3
Investments are held to provide investment returns.
RECONCILIATION OF OPENING AND CLOSING FAIR 2022 2021
VALUES £ £
Fair value as at the beginning of the year 3,025,845 2,971,190
Additions 1,498,256 577,623
Proceeds (1,480,194) (641,871)
(Losses)/gains for the year (489,333) 118,903
Fair value as at end of year 2,554,574 3,025,845
SUBSIDIARY UNDERTAKING (CHARITY) Cost Cost
2022 2021
£ £
Investment in subsidiary undertaking 1 1

Page 27

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022

14 INVESTMENTS (GROUP AND CHARITY) (continued)

The Association owns 100% of the ordinary share capital of its subsidiary undertaking, ASAB (Accreditation) Limited, which is incorporated in England and Wales (Company number 04909730). The registered office of the subsidiary is C/o D S Mills Joseph Banks Laboratories, University of Lincoln, Beevor Street, Lincoln, England LN6 7DL. The subsidiary is used for nonprimary purpose trading activities, namely the certification of Clinical Animal Behaviourists. See note 22, events after reporting date, with respect to the future of ASAB (Accreditation) Limited.

The audited financial statements for ASAB (Accreditation) Limited for the year ended 31 December 2022 and 31 December 2021 show the following:

PROFIT AND LOSS ACCOUNT
Turnover
Administrative expenses
Profit for the financial year
BALANCE SHEET
Current assets
Current liabilities
Net assets
Capital and reserves
15
DEBTORS
Other debtors
Prepayments and accrued income		 Group
2022
£
120,218
10,223
130,441		 Charity
2022
£
120,218
10,223
130,441		 2022
£
13,876
(10,978)
2,898
2022
£
13,196
(1,920)
11,276
11,276
Group
2021
£
202,030
4,867
206,897		 2021
£
11,142
(10,861)
281
2021
£
11,031
(2,653)
8,378
8,378
Charity
2021
£
201,826
4,867
206,693

Page 28

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

16
CREDITORS: Amounts falling due
within one year
Group
2022
£
Other tax and social security
54,875
Other creditors
274,236
Accruals and deferred income
507,671
836,782
Other tax and social security relates to VAT payable.
DEFERRED INCOME
Group
2022
£
Deferred income at 1 January
1,193
Released in the year
(1,193)
Resources deferred in the year
450,280
Deferred income at 31 December
450,280		 Charity
2022
£
54,875
274,236
505,751
834,862
Charity
2022
£
-
-
450,000
450,000		 Group
2021
£
25,079
288,846
47,256
361,181
Group
2021
£
3,830
(3,830)
1,193
1,193		 Charity
2021
£
25,079
288,846
44,603
358,528
Charity
2021
£
-
-
-
-

Deferred income relates to fees received in advance for work carried out in 2023 and the advance receipt of the guaranteed journal income for 2023.

17 FINANCIAL INSTRUMENTS

The Charity has the following financial instruments measured at fair value through income and expenditure at 31 December:

Group Charity Group Charity
2022 2022 2021 2021
£ £ £ £
Carrying amount of financial assets
Financial assets measured at fair value
through income and expenditure 2,554,574 2,554,574 3,147,221 3,147,221

Page 29

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

18
RECONCILIATION OF NET
INCOME TO NET CASHFLOW
FROM OPERATING ACTIVITIES
Group
2022
£
Net (expenditure)/ income for the
reporting period
(426,267)
Adjustments for:
Dividends and interest receivable from
investments
(41,010)
Losses/(gains) on investments
489,333
Decrease in debtors
76,456
Increase/(decrease) in creditors
475,601
Net cash from operating activities
574,113
19
ANALYSIS OF CASH AND CASH
EQUIVALENTS
Group
2022
£
Cash at bank and in hand
1,638,904
Cash held at investors
85,134
1,724,038
20
ANALYSIS OF MOVEMENT IN FUNDS
UNRESTRICTED FUNDS
GROUP
At 1 January
(Deficit)/surplus in the year
At 31 December
CHARITY
At 1 January
(Deficit)/surplus in the year
At 31 December		 Charity
2022
£
(429,165)
(41,010)
489,333
76,252
476,334
571,744
Charity
2022
£
1,625,708
85,134
1,710,842		 Group
2021
£
151,866
(24,855)
(118,903)
57,358
(42,210)
23,256
Group
2021
£
1,005,601
121,376
1,126,977
2022
£
3,998,538
(426,267)
3,572,271
2022
£
3,990,161
(429,165)
3,560,996		 Charity
2021
£
151,585
(24,855)
(118,903)
56,996
(39,745)
25,078
Charity
2021
£
994,774
121,376
1,116,150
2021
£
3,841,671
156,867
3,998,538
2021
£
3,833,575
156,586
3,990,161

Page 30

Association for the Study of Animal Behaviour Limited NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2022

20
ANALYSIS OF MOVEMENT IN FUNDS_(continued)_
RESTRICTED FUNDS
GROUP AND CHARITY
At 1 January
Deficits in the year
At 31 December		 2022
£
-
-
-		 2021
£
5,001
(5,001)
-

The restricted funds relate to a legacy received for the promotion of DVDs in the United Kingdom and overseas.

21 RELATED PARTY TRANSACTIONS

During the current and prior year the charity paid the audit, accountancy and tax compliance fees relating to the subsidiary company ASAB (Accreditation) Limited.

Grants have been made to the employers of the following Directors and Trustees during the year as part of ASAB's research programme:

2022 2021
£ £
Prof M J G Gage (Deceased 15 January 2022) - 1,500
Prof S D Healey (Resigned 21 March 2022) - 20,412
Prof P Stockley - 8,225
Prof D J Hosken - 10,500
Prof A Radford 3,390 -

22 EVENTS AFTER THE REPORTING DATE

Since the year end the group has transferred the activities of its subsidiary undertaking to another unrelated company and the Directors are in process of winding up the subsidiary undertaking.

Page 31