**Charity registration number 294997 (England and Wales)** ## **LEISURE STUDIES ASSOCIATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **LEISURE STUDIES ASSOCIATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Dr. Caroline Scarles Dr. Briony Sharp Trustee (appointed 19 February 2025) Trustee **Charity number (England and Wales)** 294997 **Independent examiner** Facts and Figures (Scotland) Limited 13 Rutland Street Edinburgh EH1 2AE **Bankers** Lloyds Bank plc 25 Gresham Street London EC2V 7HN ## **LEISURE STUDIES ASSOCIATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Statement of financial position|6| |Notes to the financial statements|7 - 11| ## **LEISURE STUDIES ASSOCIATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". ## **Objectives and activities** The Leisure Studies Association (LSA) promotes education and research in leisure studies. Our core activities include: - Hosting academic conferences and seminars. - Supporting early-career researchers through grants. - Publishing scholarly work and newsletters. - Facilitating interdisciplinary dialogue across leisure-related fields. ## **Achievements and performance** ## **LSA 2024 Annual Conference** Theme: (Re)claiming Leisure: Rights, Responsibilities, and Resistance Host: University of the West of Scotland, Paisley Campus Dates: July 10–12, 2024 Delegates: 165 from 30 countries across 6 continents Programme: - 132 oral presentations - 9 posters, 6 workshops - 3 keynote panels (Tourism, Events, Sport) - 2 documentary screenings, 2 art installations - ECR mentoring event and a publishing debate with journal editors Inclusivity: Papers accepted in Spanish and Portuguese; diverse keynote representation across academia, industry, and activism Feedback: 86% of surveyed delegates were very satisfied; 99% were satisfied or very satisfied overall Other Highlights - 15 student bursaries funded by LSA and Leisure Studies Journal - Strengthened partnerships with Glasgow Convention Bureau, Taylor & Francis, Springer/Nature, and others - Estimated local economic impact: £250,000 - 1 - ## **LEISURE STUDIES ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **EDI Strategy Development Project (£5,000 AcSS & ESRC Grant)** In 2024, the Leisure Studies Association was awarded £5,000 through the Academy of Social Sciences (AcSS) and ESRC Equality, Diversity and Inclusion (EDI) Funding Scheme. This supported the co-design and implementation of a new EDI strategy for the association. ## Project Aims: - Increase diversity and global representation in membership. - Improve accessibility and support for marginalised researchers. - Ensure inclusive event design and representation. - Enhance governance, culture, and EDI training. ## Activities Delivered: - A Values Survey (Feb–Mar 2024) with 43 responses identified key values: Community, Collaboration, Accessibility, Diversity. - Policy Workshops (May–June 2024) with members and the Executive Committee led to a draft EDI Policy and Action Plan. - A co-designed Unconference (Oct 2024) provided an inclusive online space for dialogue, resource sharing, and feedback. - The LSA Annual Conference (July 2024) embedded EDI principles through multilingual abstract submissions, tiered fees, bursaries, and diverse keynote representation. - Qualitative interviews with 19 members explored themes of mentoring, decolonisation, and accessibility. ## Outcomes: - A formal EDI Policy and Action Plan was ratified at the AGM. - Increased awareness and data on membership diversity. - Commitment to ongoing inclusive practices, including sliding scale membership fees and mentorship initiatives. - Plans for regular online EDI-themed events and further governance reforms in 2025. ## Reflections: Challenges included limited volunteer engagement in co-creation workshops and the inability to deliver a hybrid conference due to technical constraints. However, the project fostered deep reflection on organisational culture and laid the foundation for long-term transformation. Next Steps: - Continued implementation of the EDI Action Plan. - Sharing learnings with other learned societies. - Ratification of governance changes at the 2025 AGM, including the creation of an EDI Officer role. ## **Financial review** Financial Summary for the Period: 1 January 2024 – 31 December 2024 During the 2024 financial year, the Leisure Studies Association recorded: £28,848.29 Total Income: £28,848.29 This includes revenue from membership subscriptions, surplus from the annual conference, external grant funding (including £5,000 from the Academy of Social Sciences and ESRC), and royalties from the _Leisure Studies Journal_ . Total Key areas of spending included: Expenditure: £37,440 - Research awards distributed via the LSA Research & Enterprise Fund. - Travel and operational expenses incurred by Trustees and Executive Committee members. - Prizes awarded for outstanding contributions, including dissertation and book awards. - 2 - ## **LEISURE STUDIES ASSOCIATION** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Plans for future periods** In 2025, LSA aims to: - Launch a mentoring scheme for early-career academics - Expand digital member resources - Support the 2025 conference hosted in York ## **Structure, governance and management** LSA is governed by an elected Executive Committee. Trustees serve voluntarily and oversee strategic, financial, and operational matters. Key Members in 2024 included: - Dr. Bailey Adie Ashton, Chair - Dr. Briony Sharp, Treasurer - Onna Rageth, Secretary - Dr. Aaron Pooley, Digital Communications - Dr. David Scott, Membership - Dr. Rhiannon Lord, Research & Enterprise - Brian Komyathy, Student Representative Ordinary Members - Dr. Clare Hearn - Jeff Crittenden - Tom Critchley ## **Risk Management** Key risks identified and mitigated: - Financial oversight and dual signatory controls - GDPR compliance for member data - Contingency planning for digital and in-person events ## **Public Benefit Statement** The trustees confirm compliance with the Charities Act 2011, ensuring activities deliver public benefit through education and research. The trustees' report was approved by the Board of Trustees. **Trustee** 31 October 2025 - 3 - ## **LEISURE STUDIES ASSOCIATION** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF LEISURE STUDIES ASSOCIATION** I report to the trustees on my examination of the financial statements of Leisure Studies Association (the Charity) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. - I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Facts and Figures (Scotland) Limited** 13 Rutland Street Edinburgh EH1 2AE 2025-10-31 Date: ............................ - 4 - ## **LEISURE STUDIES ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ |||**Unrestricted**| |---|---|---| |||**funds**| |||**2024**| ||**Notes**|**£**| |**Income and endowments from:**||| |Charitable activities|**3**|14,538| |Other income|**4**|14,310| |**Total income**||28,848| |**Expenditure on:**||| |Charitable activities|**5**|32,110| |**Total expenditure**||32,110| |**Net income/(expenditure) and movement in funds**||(3,262)| |**Reconciliation of funds:**||| |Fund balances at 1 January 2024||89,781| |**Fund balances at 31 December 2024**||86,519| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - ## **LEISURE STUDIES ASSOCIATION** ## **STATEMENT OF FINANCIAL POSITION** ## _**AS AT 31 DECEMBER 2024**_ |**Notes**
**Current assets**
Cash at bank and in hand
**Net current assets**
**The funds of the Charity**
Unrestricted funds
**9**|**2024**
**£**
86,519|**£**
86,519| |---|---|---| |||86,519| |||86,519| The financial statements were approved by the trustees on 31 October 2025 **Trustee** - 6 - ## **LEISURE STUDIES ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** ## **Charity information** Leisure Studies Association is constituted by these rules as a non profit-making Association. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 7 - ## **LEISURE STUDIES ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **1.7 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. - 8 - ## **LEISURE STUDIES ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from charitable activities** ||**Unrestricted**| |---|---| ||**funds**| ||**2024**| ||**£**| |**Unrestricted funds**|| |Membership income|7,438| |Conference / event income|7,100| ||14,538| ## **4 Other income** ||**Unrestricted**| |---|---| ||**funds**| ||**2024**| ||**£**| |Royalties|14,310| - 9 - ## **LEISURE STUDIES ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **5 Expenditure on charitable activities** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Direct costs**||| ||Research funding|15,663|20,060| ||Conference / event expenses|11,117|-| |||26,780|20,060| ||**Share of support and governance costs (see note 6)**||| ||Support|5,000|-| ||Governance|330|-| |||32,110|20,060| ||**Analysis by fund**||| ||Unrestricted funds - general|32,110|20,060| |**6**|**Support costs allocated to activities**||| ||||**2024**| ||||**£**| ||Consulting||5,000| ||Governance costs||330| ||||5,330| ||**Analysed between:**||| ||Unrestricted funds||5,330| ||||**2024**| ||**Governance costs comprise:**||**£**| ||Bank fees||75| ||IT software and consumables||187| ||Subscritpions||68| ||||330| ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. - 10 - ## **LEISURE STUDIES ASSOCIATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **8 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **9 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 January**|**Incoming**|**Resources**|**At 31**| |---|---|---|---|---| ||**2024**|**resources**|**expended**|**December**| |||||**2024**| ||**£**|**£**|**£**|**£**| |General funds|89,781|28,848|(32,110)|86,519| |**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**At 31**| ||**2023**|**resources**|**expended**|**December**| |||||**2023**| ||**£**|**£**|**£**|**£**| |General funds|86,161|23,680|(20,060)|89,781| ## **10 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 11 - |REF. NUMBER
**`BBULK-IJNV2-FSGMG-9UXU9`**
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