OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

LEADERSHIP FOR LIBRARIES

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2023

Company registration no: 1436951 Charity registration no: 278550

----- Start of picture text -----
||| |---|---| |Contents|Page no.| |Co-chairs’ introduction|2| |Reference and administrative information|3| |Highlights of the year|4| |The year in numbers|5| |Plans for 2024|6| |Trustees’ report|7| |How we supported our members in 2023|8| |Structure, governance and management|12| |Financial review|14| |Responsibilities of the trustees|16| |Independent auditors’ report|17| |21| |Statement of financial activities| |Balance sheet|23| |25| |Statement of cash flows| |27| |Notes to the financial statements|

----- End of picture text -----

Contents | 1

Co-chairs’ introduction

Supporting a sustainable future

Libraries have a history of successfully navigating seismic changes in our operating landscape; undertaking radical transformations in the way we work while remaining true to our core professional mission and values. The community’s very unusual, profound commitment to the spirit and practice of collaboration is key to this success and finds practical demonstration in our generosity in sharing information; our open, learning culture; a commitment to equitable solutions which leave no-one behind; and engagement as activists with questions of diversity, fairness and sustainability.

The SCONUL strategy which was published in May 2023 seeks to foster but also to capitalise on these strengths. For example, it aims to support innovation and the process of transformation of libraries and we have been doing that through highlighting the development of technologyenhanced library spaces; through considering radical alternatives to the big deal; and through the launch

of a new survey on libraries’ uses of technologies amongst other things.

We promised to be agile and responsive to your developing needs and we have been reviewing our benchmarking statistics to ensure that we are gathering data which is of most use, and sharing it in ways which align with how libraries work now.

The current financial crisis buffeting the sector, particularly our higher education libraries, will test our agility and creativity to the full, and SCONUL will be stepping forward to provide whatever help we can to support members facing these very significant challenges. We will do that by sharing information; providing advocacy for libraries and their contribution to the core missions of their institutions, and by providing the tools and intelligence to support effective decision-making.

There is a strong commitment across the sector to drive a sustainable future for libraries in climate and social as

well as economic terms. Our climate crisis group is sharing information and practice on the transformation that we will need to undergo to meet Scope 3 emissions and behind the scenes is working with partners on engagement with our suppliers. A commitment to EDI remains central to our work and this is another area where we are facilitating effective sharing practice.

The drive to deliver across all aspects of the strategy is coming from the board, our strategy groups, and our team in the office, but most of all from you. We give as a community and we benefit as a community, and together will not just weather challenging times, but will thrive.

Andrew Barker and Libby Homer, Co-chairs

Co-chairs’ introduction | 2

Reference and administrative information

Status

The organisation is a charitable company limited by guarantee.

Company number: 01436951 Charity number: 278550

Registered office

94 Euston Street, London NW1 2HA

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Auditors

Godfrey Wilson Limited, Chartered accountants and statutory auditors, 5th Floor Mariner House, 62 Prince Street, Bristol, BS1 4QD

Bankers and investment managers

Solicitors

Walker Morris LLP, Kings Court, 12 King Street, Leeds LS1 2HL

The Co-operative Bank plc, PO Box 250, Delf House, Southway, Skelmersdale, WN8 6WT CCLA Investment Managers Limited, COIF Charity Funds, Senator House, 85 Queen Victoria Street, London

HR advisor

Worknest, 20 Grosvenor Place, London SW1X 7HN

Staff

Executive Director and Company Secretary: Ann Rossiter

Deputy Director: SCONUL Lisa McLaren Co-Ordinator: (25 April 2023) SitMui Ng

Project Manager: Jenelle Negraeff

Finance Assistant: Kim Hardingham

Team Administrator: Anita Ape (27 September 2023) and Noura Mokhtar (14 November 2023)

Reference and administrative information | 3

Highlights of the year

January

Bringing our members back together face-to-face at our Future-ready libraries conference to explore the post-pandemic landscape.

April

Setting up the EDI Libraries Coordinating Group so that library consortia across the UK and Ireland can share learning, developments and progress.

July

Piloting our new Technology Survey which will provide detailed data on the use of library technologies across our members including perceptions of functionality and value-for-money.

October

Producing statistics on the ethnic make-up of the SCONUL member workforce for the first time.

March

Advocating for price control by library service suppliers in the face of the cost-of-living crisis in partnership with peer organisations across HE.

May

Publishing our new organisational strategy, based on deep consultations with members via national and regional meetings and survey data.

September

Providing members with an opportunity to share how libraries are responding to generative AI to support students and academic communities.

Highlights of the year | 4

The year in numbers

25 New Deputies and Directors groups

----- Start of picture text -----
83%
----- End of picture text -----

or 157 of our member institutions contributed to our benchmarking statistics

107 library leaders attended the first face-to-face conference held since the pandemic

7 national and regional meetings held & hearing from 106 members through a survey for input into SCONUL’s new strategy

x 61762 Access Scheme users

51

members of staff used the Advance HE Leading Change on Race training

----- Start of picture text -----
87
----- End of picture text -----

institutions contributed to the statistics collected on the ethnic make-up of the SCONUL community workforce for the first time

other consortia joined the EDI Libraries Coordinating Group we set up

11

The year in numbers | 5

Plans for 2024

Delivering our new SCONUL website making resources more accessible including new features such as a jobs bank.

Launching our new Technology Survey to share intelligence on the use of technologies in libraries, and perceptions of their functionality and value-for-money.

Exploring with members the appetite and scope for collective collections and how this might be delivered.

Bringing members together to discuss the emerging challenges and opportunities for libraries at a face-to-face conference in November in Birmingham.

----- Start of picture text -----
AI
----- End of picture text -----

Leading conversations with library service providers on AI roadmaps and providing the opportunity to share emerging practice through AI coffee mornings.

Exploring innovation and good practice across the sector through projects such as technologyenabled library spaces and sustainability and the climate crisis.

Supporting the next generation of library leaders through the development of new community of interest groups and our existing suite of CPD services.

Advocating for the interests of libraries with stakeholders including UUK and UKRI.

Plans for 2024 | 6

Trustees’ report

The trustees present their report and the audited financial statements for the year ended 31 December 2023.

Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective January 2019).

SCONUL’s core aims and activities

As a charity, SCONUL has a set of core aims (our “charitable objects”). The Executive Board has referred to the Charity Commission’s guidance on public benefit when reviewing SCONUL’s aims and objectives and in planning future activities. Identifiable public benefits arose during 2023 from the work described below, highlights of which were:

Supporting the development of the next generation of library leaders through extensive CPD opportunities.

Sharing good practice across the library sector through a wide range of webinars and events, reports and briefings.

Driving for a sustainable future for libraries in climate, economic and social terms.

Surfacing and promoting innovation across the sector and supporting members in their digital transformation.

Our charitable objects: Generally to promote, maintain and advance the science and practice of librarianship and to improve the overall standards of national and university libraries for the benefit of the public.

Enabling libraries to benchmark their performance against their peers through a longrunning set of statistics covering core library functions.

Advocating for the value of libraries to government and other stakeholders.

Being a passionate advocate for a more diverse and representative library community.

Supporting equality of opportunity for students and academics through the delivery on the SCONUL Access Scheme.

Trustees’ report | 7

How we supported our members in 2023

We inspire

Inclusivity and diversity: Fostering the development of a profession which better reflects our society in all its diversity through an active programme promoting and supporting change.

» Funding the Leading Change on Race programme delivered by Advance HE tailored for library leaders which was attended by 51 representatives from member institutions.

» Establishing the EDI Libraries Coordinating group to share information and practice on equality, diversity and inclusion across the sector.

» Supporting the pilot for an Emerging Leaders programme to support leaders from diverse backgrounds to succeed.

Creative conversations:

Brokering creative conversations informed by quality data and research about future directions for our sector to enable our members to shape and prepare for that future.

» Bringing members together to discuss issues such as the development of rights retention policies; the future of the systems librarian and journal negotiations through a series of webinars.

» Organising a conference on the future of libraries with sessions covering artificial intelligence; sustainability; virtual and physical library spaces post-pandemic; and re-thinking recruitment, attended by 107 library leaders.

» Bringing members together to discuss the priorities for the sector and to shape SCONUL’s new strategy through a series of regional and national meetings, and via 106 responses to our national survey.

Partnerships:

Working openly, collaboratively and strategically with partner bodies within and beyond our community, locally and internationally to explore new opportunities and to deliver value for the community.

» Working with partners across UK HE to support colleagues in Ukrainian universities including fostering partnerships between libraries in the UK and Ukraine.

» Liaison with peer organisations in other sectors to share insights and intelligence, for example with UHR on recruitment and retention challenges.

» Working collaboratively with partners including with the British Library and RLUK on the future of inter-library loans.

How we supported our members in 2023 | 8

How we supported our members in 2023

We support

Shared services:

Providing and developing services which help members to meet the needs of their users.

» Our Access Scheme was used by 61,762 students, researchers and academic staff in 2023. This allows users at one institution to use the library at another member university.

» 157 institutions contributed to the SCONUL statistics which enable institutions to benchmark their own performance against that of their peers.

» Developing a new Technology Survey to allow members to understand sectorwide perceptions of the value-for-money and functionality of the technology being employed across the sector.

Sharing knowledge: Producing resources to provide information and guidance to members about developments in HE and the library sector.

» Sharing news and information with members through our monthly newsletter; news flashes; and briefings including public policy announcements, sector news and job vacancies.

» Creating and hosting webinars and conferences for members which explore key issues for the sector, for example on negotiations with publishers (SpringerNature) and on developments in AI.

» Delivering our Small and Specialist Institutions Forum which brings members from this part of the sector together to share practice and experiences.

Mutual support:

Facilitating professionals within our member libraries to connect and learn from one another through peer support and sharing information and practice.

» Delivering a set of resources to support staff at member institutions applying for HEA fellowship.

» Creating a set of webinars to allow members to share information on how they are using new AI technologies to support students and academics.

» Organising 25 mutual support groups for deputies and new directors to share experiences and knowledge.

How we supported our members in 2023 | 9

How we supported our members in 2023

We promote

The value of libraries: Advocating for the vital role that libraries play in the academic enterprise; in student wellbeing and success; and in broader engagement and innovation; highlighting the conditions for that success and supporting members with the evidence base and tools.

» Challenging publishers on proposals which undermine the capacity of libraries to provide access to content, for example the introduction of article development charges.

» Working with finance directors and other across the HE community to argue to government for a change to VAT rules on read and publish agreements.

Representing the community: Representing the interests of our community with stakeholders, regulators and governments to ensure that policies develop in a way which enable libraries to deliver maximum value for their users.

» Representing the library community on a range of HE strategy groups including the UUK Content Strategy Negotiations Group and the UUK Learning Content Group.

» SCONUL colleagues sitting on the UKRI OA review stakeholder group and arguing for the interests of the library community in the policy development process.

» Working with colleagues on the purchasing consortia and Jisc on arrangements for the procurement of library services and content.

Leading positive change: Generating positive proposals for change and exploring new opportunities for services and partnerships to create a positive environment for our libraries and professionals to operate.

» Commissioning and publicising case studies on creating positive action traineeships in libraries.

» Publishing statistics on the ethnic makeup of the library workforce for the first time in order to benchmark progress in increasing diversity.

» Publicly challenging the decision by the international library body, IFLA, to hold its conference in an environment hostile to LGBTQ+ colleagues.

» Providing members with resources, data and case studies to support their internal advocacy work including our benchmarking statistics and case studies.

How we supported our members in 2023 | 10

How we supported our members in 2023

We develop

Supporting the next generation: Delivering support for the next generation of aspiring, emerging and current leaders through formal and informal professional development opportunities which embrace and promote diversity.

» Delivering a mentoring scheme for aspiring, emerging and newly appointed library leaders as part of a suite of CPD services.

» Partnering with BUFDG and other peer organisations to offer action learning to those with leadership positions at member libraries, bringing people together to exchange, support and challenge each other.

Our own services:

Reviewing and redeveloping our own services to maximise the benefits to our members, placing them at the centre of our decision making.

» Initiating a review of our benchmarking statistics to ensure that the data being gathered is relevant, and to explore new approaches to data sharing.

» Overhauling the SCONUL website to enable more effective sharing of resources.

» Developing new categories for the SCONUL triennial design awards to reflect the reality of library space and budgets post-pandemic.

Financial stewardship: Exploring new ways of working and new partnerships to ensure that we are maximising our income and the impact of our expenditure.

» Developing a new strategy to deliver increased value for members within the agreed financial envelope.

» Opening up membership of SCONUL to new groups of members through the introduction of an associate membership category.

» Providing support to regional consortia at cost to enable them to concentrate on projects and research of benefit to members.

» Developing proposals for new community of interest groups to bring colleagues at member institutions together in areas of mutual interest.

How we supported our members in 2023 | 11

Structure, governance and management

Governance

SCONUL is a company limited by guarantee which has been given a licence to omit the word ‘limited’ by the Secretary of State for Business, Innovation and Skills. SCONUL is governed by its Articles of Association which are available on the SCONUL website: https://www. - - sconul.ac.uk/about us/about sconul/

These governing documents were incorporated on 13 July 1979 and last amended by Special Resolution on 3 July 2015.

SCONUL’s members

SCONUL’s members are the universities and national libraries of the United Kingdom and Ireland, together with most other UK institutions of higher education and institutions with collections of national significance. Members are listed on our website at https://www.sconul. - - ac.uk/about us/our members/

One member one vote

Senior leaders of SCONUL member libraries have an important role to play in SCONUL, influencing our priorities and objectives. Their contributions to the board, to SCONUL’s strategy groups and in representing the community on a wide range of working groups are critical to SCONUL’s success. They are also critical in helping to develop SCONUL’s strategy to meet its core charitable objectives (see page 7).

Each institution is allowed a single vote at the SCONUL Annual General Meeting and in elections for the board. This is an important element of the governance of the organisation.

Our trustees

Our Executive Board members (see page 3) constitute the Company’s board and are the Charity’s trustees, each of whom, in formal terms, is a Director of the Company.

Twelve of the sixteen of the board are elected and four were co-opted from partner organisations.

New trustees are given briefings on the charity’s work and their obligations under Charity and Company law. Training in good practice and the responsibilities of trustees is provided regularly.

Structure, governance and management | 12

Structure, governance and management

Executive Board

The Executive Board meets four times a year (currently three of these meetings are virtual) and oversees all issues relating to the charity’s finances and its work for members and the public, including taking decisions on behalf of members. Where major changes to the way that SCONUL works are proposed, these are presented to members to vote on at the AGM. The SCONUL Board also

includes agreeing their terms of reference and considering significant proposals for activities and spending

During 2023 the board launched our new strategy https://www.sconul. - - ac.uk/about us/sconuls strategy/ following extensive discussions with the community.

Structure, governance and management | 13

Financial review

Introduction

The results for the year to 31 December 2023 are set out in the Statement of Financial Activities. The Charity’s fund balances and the net assets that constitute them are set out in the balance sheet. Overall total income was as anticipated. Subscription income for SCONUL (as opposed to our regional consortia) rose by 29.07% following the agreement by our members to increase subscriptions significantly to deliver on member expectations. The remainder of subscription income relates to our management of reserved funds for our regional consortia.

A satisfactory balance between dayto-day and longer-term holdings of funds has been adopted, as follows:

below £10,000

Balances are high at the start of the year when subscriptions are received and are reduced towards the end of the year to provide funds for expenses incurred.

Pay and remuneration policy

Staff pay scales are set by the Executive Board on the basis of advice from SCONUL’s HR consultant and with reference to pay rates for equivalent posts in the charitable and public sectors.

Risk management

The Executive Board considers the major risks faced by SCONUL on a regular basis and they are of the opinion that systems are in place to manage them. A “live” risk register is

maintained by the SCONUL office and is reviewed in depth annually. Any “red” risks are reviewed at each meeting by the Executive Board. This covers both financial and nonfinancial risks; identifies both the likelihood and severity of any risk and identifies activities required to mitigate the risks identified.

Reserves policy

The designated funds support the activities of SCONUL’s subgroups: Academic Libraries North; the Mercian Collaboration; and the Customer Services Group UK as discussed above. 2023 saw SCONUL’s reserves increase slightly to £326,919 from £266,740 at the end of 2022. We hold an additional £82,433 in designated funds (£81,097 at the end of 2022). SCONUL’s reserves policy is as follows (reviewed in May 2023):

to hold reserves sufficient to cover (a) statutory redundancy costs, plus

(b) three months’ core running costs or the cost of other legal liabilities whichever is higher, plus (c) funds to cover a 10% loss of subscription income, plus (d) our largest spending commitment.

For 2024 this would total £242k for SCONUL’s core income and expenditure.

We have income and expenditure included in our accounts for regional consortia which are formally part of SCONUL and we ask them to apply the same reserves policy to their own spending. This would give an additional reserves requirement of £47k.

SCONUL has been in discussion with the SAUL pension scheme to confirm its legal status as an employer under the Scheme is recognised. This has now been confirmed as of 28 February 2024.

We are also in discussion with USS on

Financial review | 14

Financial review

the same matter. This may require SCONUL to include a one-off cost on its accounts next year to recognise potential employer liabilities under the USS Scheme. The Board is confident that this would be manageable within reserves but may require reserves to be built up over time, including within the funds designated for the Mercian Collaboration and Academic Libraries North.

The trustees consider that the charity has sufficient unrestricted reserves as detailed above and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For this reason, the accounts have been prepared on the going concern basis.

Interest income has increased significantly in the course of 2023 and was an average of 5.15% over the course of the year.

Relationships with other bodies

SCONUL provides support to three library consortia whose members are also members of SCONUL and which are formally constituted as sub-groups. The groups have autonomy within our shared core charitable objectives (see page 7). Two consortia have three members of staff between them, employed by SCONUL, devoted to their work. The cost of other staff time on consortia work is covered by transfers from the consortia’s reserved funds.

SCONUL has no formal relationship with other charities with the important exception that its member institutions are nearly all charities themselves. SCONUL is a member of a number of key sector bodies, including LIBER, as part of its role ensuring that the voice of its members is heard at the European and international level.

Financial review | 15

Responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 charity and of the income and expenditure of the charity for that period.

In preparing those financial statements the trustees are required to

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006.

The trustees are also responsible for

safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware

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.

Members of the charity guarantee to

contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditors

Godfrey Wilson Limited were re-appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 15 July 2024 and signed on their behalf by

A Barker - SCONUL Co-chair

E Homer - SCONUL Co-chair

Responsibilities of the trustees | 16

Independent auditors’ report

Opinion

We have audited the financial statements of The Society of College, National and University Libraries (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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

as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended

Basis for opinion

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 charity 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.

Conclusions relating to 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 charity’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 trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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

Independent auditors’ report | 17

Independent auditors’ report

knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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

statements are prepared is consistent with the financial statements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion

in agreement with the accounting records and returns

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees 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 they 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so.

Our 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

Independent auditors’ report | 18

Independent auditors’ report

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of noncompliance.

(2) We reviewed the charity’s policies

and procedures in relation to

(4) We enquired about any nonroutine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial

statements or non- compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Use of our report

This report is made solely to the charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent

Independent auditors’ report | 19

Independent auditors’ report

permitted by law, we do not accept or assume responsibility to anyone other than the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

15 July 2024

William Guy Blake

William Guy Blake ACA (Senior Statutory Auditor)

For and on behalf of: GODFREY WILSON LIMITED Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

Independent auditors’ report | 20

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2023

Note
Income from:
Donations
2
Charitable activities:
3
Library statistics
Event programme
Investments
4
Other trading activities
Total income
Expenditure on:
Charitable activities:
Membership services
Events programme
Partnership working, advocacy and lobbying
Communications with members
Regional collaborations
Total expenditure
5		 2023
£
587,494
712
39,281
23,738
11,540
662,765
147,223
107,208
119,497
133,131
94,191
601,250		 2022
£
470,399
1,662
15,967
4,391
11,050
503,469
118,022
91,727
96,559
117,016
75,495
498,819

Statement of financial activities | 21

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2023

Note
Net income and net movement in funds
6
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2023
£
61,515
347,837
409,352		 2022
£
4,650
343,187
347,837

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. All income and expenditure is unrestricted. Movements in funds are disclosed in note 15 to the accounts.

Statement of financial activities | 22

Balance sheet

At 31 December 2023

Note
Fixed assets
Tangible fxed assets
9
Current assets
Debtors
10
Current asset investment
11
Cash at bank and in hand
Creditors: amounts due within 1 year
12
Net current assets
Net assets
14		 £
8,132
366,125
106,459
480,716
(71,364)		 2023
£
-
409,352
409,352		 2022
£
-
17,676
347,507
51,089
416,272
(68,435)
347,837
347,837

Balance sheet | 23

Balance sheet

At 31 December 2023

Note
£
Funds
15
Unrestricted funds:
Designated funds
General funds
Total funds		 2023
£
82,433
326,919
409,352		 2022
£
81,097
266,740
347,837

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime. Approved by the trustees on 15 July 2024 and signed on their behalf by

E Homer - Co-chair A Barker - Co-chair

Balance sheet | 24

Statement of cash flows

For the year ended 31 December 2023

Cash fows from operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities
Cash fows from investing activities:
Dividends, interest and rents from investments
Net cash provided by investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2023
£
61,515
-
(23,738)
9,544
2,929
50,250
23,738
23,738
73,988
398,596
472,584		 2022
£
4,650
339
(4,391)
(3,848)
(25,741)
(28,991)
4,391
4,391
(24,600)
423,196
398,596

Statement of cash flows | 25

For the year ended 31 December 2023

Statement of cash flows

Analysed as:
Cash at bank and in hand
Current asset investments		 2023
£
106,459
366,125
472,584		 2022
£
51,089
347,507
398,596

Analysis of changes in net debt

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

Statement of cash flows | 26

Notes to the financial statements

For the year ended 31 December 2023

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Society of College, National and University Libraries 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.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. The charity has sufficient general reserves and cash to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. There are no material uncertainties about the charity’s ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from donations is received by way of membership subscriptions and is included in full in the statement of financial activities when receivable.

Credit is taken for subscriptions in the year for which they are payable. Where a member wishes to terminate their subscription then notice must be given before the summer conference in the year prior to the termination of membership.

Any income arising from conferences and meetings, sponsorship and sales of publications, working papers or newsletters is recognised once invoiced, unless it relates to a future event in which case it is deferred.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

Notes to the financial statements | 27

Notes to the financial statements

For the year ended 31 December 2023

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. These relate to ring-fenced funds for the regional consortia as described in note 15 to the accounts.

f) 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.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of governance and support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between charitable activities on the following basis, which is an estimate of the recourse usage of each activity:

2023 2022
Membership services 24% 28%
Events programme 26% 21%
Partnership working, advocacy and lobbying 23% 22%
Communications with members 27% 29%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold improvements 5 years straight line
Furniture, fxtures and fttings 3 years straight line
Computer equipment 3 years straight line

Items of equipment are capitalised where the purchase price exceeds £1,000.

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Notes to the financial statements | 28

Notes to the financial statements

For the year ended 31 December 2023

j) Current asset investments

Current asset investments consist of cash held on deposit in interest bearing accounts. Such investments are measured at their fair value.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors

Creditors and provisions are recognised where the charity 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.

m) Pension costs

The charitable company contributes to two multi-employer defined benefit pension schemes (the Universities Superannuation Scheme and the Superannuation Arrangements of the University of London). The assets of the schemes are held separately from those of the charitable company in independently administered funds. As the charitable company cannot reliably estimate its share of the scheme

deficit, the schemes are accounted for as defined contribution schemes. The pension cost charge represents contributions payable under the schemes by the charitable company to the funds. The contributions made for the accounting period are treated as an expense and were £59,073 in 2023 (2022: £49,718). In addition, the charity contributed £2,483 (2022: £nil) to the Superannuation Arrangements of the University of London’s defined contribution pension scheme, the full amount has been recognised as an expense in the year.

n) Contingent liabilities

A contingent liability is disclosed when either a transfer of economic benefit to settle the obligation is possible but not probable; or the amount of the obligation cannot be estimated reliably.

o) Operating lease commitments

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis over the minimum lease term.

p) Regional consortia

These financial statements include the results of the regional SCONUL sub-groups, accounted for as branches of the charity. Funds held on behalf of regional consortia are held as designated funds.

Notes to the financial statements | 29

Notes to the financial statements

For the year ended 31 December 2023

q) Accounting estimates and key judgements

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no key sources of estimation or uncertainty that have a significant effect on the amounts recognised in the financial statements.

2. Income from donations

3. Income from charitable activities

Event programme:
Conference programme
Library statistics:
SCONUL Publications
Total income from charitable activities
Income from investments
Interest on current asset investments		 2023
£
39,281
712
39,993
2023
£
23,738		 2022
£
15,967
1,662
17,629
2022
£
4,391

4. Income from investments

2023 2022
£ £
Membership subscriptions 587,494 470,399

Notes to the financial statements | 30

Notes to the financial statements

For the year ended 31 December 2023

5. Expenditure


Direct costs
IT and website hosting
Staff costs (note 7)
Recruitment and training
Premises costs
Insurance
Fees and subscriptions
Offce costs
Legal and professional
Executive board costs
Audit and accountancy
Bank charges
Sub-total
Allocation of governance and support costs
Total expenditure		 £
15,016
10,311
73,410
-
-
-
-
-
-
-
-
-
98,737
48,486
147,223
Membership
services		 £
12,461
1,200
41,717
-
-
-
-
-
-
-
-
-
55,378
51,830
107,208
Events
programme		 £
11,335
1,200
61,819
-
-
-
-
-
-
-
-
-
74,354
45,143
119,497
Partnership
working,
advocacy and
lobbying		 £
2,704
1,200
74,053
-
-
-
-
-
-
-
-
-
77,957
55,174
133,131
Communications and
best practice sharing
with members		 £
25,888
2,631
65,672
-
-
-
-
-
-
-
-
-
94,191
-
94,191
Regional
collaborations		 £
-
37,190
72,096
21,088
33,949
2,042
3,711
14,172
2,078
5,643
8,640
24
200,633
(200,633)
-
Governance
and support
costs		 £
67,404
53,732
388,767
21,088
33,949
2,042
3,711
14,172
2,078
5,643
8,640
24
601,250
-
601,250
Total 2023

Total governance costs were £14,283 (2022: £25,996).

Notes to the financial statements | 31

Notes to the financial statements

For the year ended 31 December 2023

Expenditure (prior year comparative)

Direct costs
IT and website hosting
Staff costs (note 7)
Recruitment and training
Premises costs
Insurance
Fees and subscriptions
Offce costs
Legal and professional
Executive board costs
Audit and accountancy
Bank charges
Depreciation
Sub-total
Allocation of governance and support costs
Total expenditure		 £
23,152
4,836
42,092
-
-
-
-
-
-
-
-
-
-
70,080
47,942
118,022
Membership
services		 £
3,916
607
50,884
-
-
-
-
-
-
-
-
-
-
55,407
36,320
91,727
Events
programme		 £
10,177
607
46,550
-
-
-
-
-
-
-
-
-
-
57,334
39,225
96,559
Partnership
working,
advocacy and
lobbying		 £
2,452
607
63,109
-
-
-
-
-
-
-
-
-
-
66,168
50,848
117,016
Communications and
best practice sharing
with members		 £
9,167
9,541
56,787
-
-
-
-
-
-
-
-
-
-
75,495
-
75,495
Regional
collaborations		 £
-
10,598
70,203
4,143
33,940
2,046
3,172
15,426
8,446
17,776
8,220
26
339
174,335
(174,335)
-
Governance
and support
costs		 £
48,864
26,796
329,625
4,143
33,940
2,046
3,172
15,426
8,446
17,776
8,220
26
339
Total 2022
498,819
-
498,819

Notes to the financial statements | 32

Notes to the financial statements

For the year ended 31 December 2023

6. Net movement in funds

Net movement in funds
This is stated after charging:
2023 2022
£ £
Depreciation Nil 339
Trustees’ remuneration Nil Nil
Trustees’ reimbursed expenses 772 848
Auditors’ remuneration:
•
Statutory audit and accounts preparation (excluding VAT)		 7,200 6,850

Trustees’ reimbursed expenses were for travel and meeting room hire for six trustees (2022: seven).

Notes to the financial statements | 33

Notes to the financial statements

For the year ended 31 December 2023

7. Staff costs and numbers

Staff costs and numbers
Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs		 2023
£
296,894
30,316
61,557
388,767		 2022
£
252,574
27,333
49,718
329,625

The key management personnel of the charity comprise the trustees and the Executive Director. The total employee benefits of the key management personnel of the charity were £125,154 (2022: £121,830).

One employee (2022: one) earned between £90,000 and £100,000 in the year, excluding employer’s pension contributions and NICs.

The average head count during the reporting period was 8 (2022: 8). The average number of full time equivalent employees during the year was as follows:

2023 2022 No. No. Average number of employees (full-time equivalent) 7 5

Notes to the financial statements | 34

Notes to the financial statements

For the year ended 31 December 2023

8. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9. Tangible fixed assets

Tangible fxed assets
Cost
At 1 January 2023 and at
31 December 2023
Depreciation
At 1 January 2023 and at
31 December 2023
Net book value
At 31 December 2023 & at
31 December 2022		 Leasehold improvements
£
102,302
102,302
-		 Furniture, fxtures and fttings
£

40,345

40,345

-
 Computer equipment
£
23,184
23,184
-		 Total
£
165,831
165,831
-

Notes to the financial statements | 35

Notes to the financial statements

For the year ended 31 December 2023

10. Debtors

Trade debtors
Prepayments
Other debtors		 2023
£
1,892
5,382
858
8,132		 2022
£
3,624
13,390
662
17,676

11. Current asset investments

The Charities Offcial Investment Fund 2023
2022
£
£
366,125
347,507

Notes to the financial statements | 36

Notes to the financial statements

For the year ended 31 December 2023

12. Creditors : amounts due within 1 year

Trade creditors
Accruals
Deferred income
Funds held on behalf of Copyright for Knowledge		 2023
£
50,244
18,587
1,245
1,288
71,364		 2022
£
29,415
28,297
9,435
1,288
68,435

13. Deferred income

At 1 January 2023
Deferred during the year
Released during the year
At 31 December 2023		 2023
£
9,435
1,245
(9,435)
1,245		 2022
£
-
9,435
-
9,435

Deferred income relates to conference income received in advance.

Notes to the financial statements | 37

Notes to the financial statements

For the year ended 31 December 2023

14. Analysis of net assets between funds

Current assets
Current liabilities
Net assets at 31 December 2023
Prior year comparative
Current assets
Current liabilities
Net assets at 31 December 2022		 Designated funds
£
90,433
(8,000)
82,433
Designated funds
£
87,132
(6,035)
81,097		 General funds
£
390,283
(63,364)
326,919
General funds
£
329,140
(62,400)
266,740		 Total funds
£
480,716
(71,364)
409,352
Total funds
£
416,272
(68,435)
347,837

Notes to the financial statements | 38

Notes to the financial statements

For the year ended 31 December 2023

15. Movements in funds

Unrestricted funds
Designated funds:
Academic Libraries North
Mercian Collaboration
CSGUK Collaboration
Total designated funds
General funds
Total funds		 At 1 January 2023
£
35,495
31,573
14,029
81,097
266,740
347,837		 Income
£
67,220
23,352
13,438
104,010
558,755
662,765		 Expenditure
£
(65,804)
(30,618)
(6,252)
(102,674)
(498,576)
(601,250)		 At 31 December 2023
£
36,911
24,307
21,215
82,433
326,919
409,352

Purposes of designated funds The designated funds have been set up for the purpose of ringfencing funds held by each of the regional consortia.

Notes to the financial statements | 39

Notes to the financial statements

For the year ended 31 December 2023

Prior year comparative
Unrestricted funds
Designated funds:
Academic Libraries North
Mercian Collaboration
CSGUK Collaboration
Total designated funds
General funds
Total funds		 At 1 January 2022
£
34,638
25,896
10,438
70,972
272,215
343,187		 Income
£
61,573
19,976
11,388
92,937
410,532
503,469		 Expenditure
£
(60,716)
(14,299)
(7,797)
(82,812)
(416,007)
(498,819)		 At 31 December 2022
£
35,495
31,573
14,029
81,097
266,740
347,837

Notes to the financial statements | 40

Notes to the financial statements

For the year ended 31 December 2023

16. Commitments under operating leases

At 31 December 2023, the charity had the following annual commitments under non-cancellable operating leases:

Payments due:
Within one year
Within two to fve years		 2023
Land and buildings
£
7,500
-
7,500		 Other
£
958
-
958		 2022
Land and buildings
£
7,500
-
7,500		 Other
£
2,038
958
2,996

17. Related party transactions

There were no related party transactions in the current or prior year.

Notes to the financial statements | 41

Notes to the financial statements

For the year ended 31 December 2023

18. Funds received as an agent

During the year, the charity acted as custodian trustee for partner organisation, Copyright for Knowledge. An analysis of the funds received and paid by the charity is given below. Funds held at year end are detailed in the creditors note (note 12).

Funds held at 1 January 2023 Funds received Funds paid Funds held at 31 December 2023 £ £ £ £ Copyright for Knowledge 1,288 - - 1,288

19. Defined benefit pension plan

During the year, the charitable company confirmed its status as an employer under one of the multi-employer defined benefit schemes to which it contributes (SAUL). As of the scheme’s most recent actuarial valuation it is currently in a surplus position, however as the charity is unable to recover their portion of this surplus via a future refund, and any reduction in future contributions cannot be reliably estimated a defined benefit plan asset has not been recognised in these accounts. During the year, the charitable company contributed £30,715 (2022: £25,811) to the SAUL defined benefit pension scheme, the full amount has been recognised as an expense in the SoFA.

The charitable company is in the process of obtaining confirmation of its status as an employer under one of the multi-employer defined benefit pension schemes to which it contributes (USS). USS published an actuarial valuation as at 31 March 2023, showing the scheme was in surplus. In previous years, initial indications suggested SCONUL may have had to contribute in the region of £80-100k to the scheme’s deficit.

Notes to the financial statements | 42