THE NATIONAL LIFE STORY COLLECTION COMPANY NUMBER 02172518 

REPORT AND ACCOUNTS 

YEAR ENDED 31 DECEMBER 2023 

Charity Number 327571 



## THE NATIONAL LIFE STORY COLLECTION 

## REPORT AND ACCOUNTS 

## FOR THE YEAR ENDED 31 DECEMBER 2023 

|Contents|Page|
|---|---|
|Company information|1|
|Report of Directors and Trustees|2-8|
|Auditors’ report|9-12|
|Statement of financial activities|13|
|Balance sheet|14|
|Statement of cash flows|15|
|Notes to the accounts|16 - 23|
|Income&ExpenditureAccounts|24|





## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES 

COMPANY INFORMATION at 31 December 2023 

## PER COMPANIES HOUSE 

DIRECTORS AND TRUSTEES Dame Jenny Abramsky (Chair) Dame Jennifer Gita Abramsky Prof Jon Agar Prof Jonathan Edward Agar Professor Fareda Banda Professor Fareda Banda Bob Boas Mr John Robert Sotheby Boas Professor Nelarine Cornelius Professor Nelarine Cornelius Dr Andrew Flinn Dr Andrew Flinn Amanda Game Mrs Julia Amanda Raven Bill Knight OBE Mr William John Knight Dr Robert Perks MBE Dr Robert Brian Perks Dr Jo Reilly Dr Joanne Reilly Mary Stewart Ms Mary Stewart Prof Paul Thompson Prof Paul Richard Thompson Dr Janet Topp Fargion Dr Janet Constance Topp Fargion Jennifer Wingate Mrs Jennifer Wingate SECRETARY Mary Stewart TREASURER Bob Boas FINANCE COMMITTEE Dame Jenny Abramsky Bob Boas (Chair) Professor Nelarine Cornelius Bill Knight Pauline Morrison (NLS Bookkeeper, ex officio) lan Prideaux Mary Stewart (Director) Dr Madeline White (NLS Deputy Director, ex officio) COMPANY NUMBER 02172518 (England and Wales) CHARITY NUMBER 327571 REGISTERED OFFICE British Library 96 Euston Road London NW1 2DB BANKERS Lloyds TSB Bank plc 70-71 Cheapside London EC2V 6EN AUDITORS Parker Cavendish 28 Church Road Stanmore Middlesex HA7 4XR 

1 



## THE NATIONAL LIFE STORY COLLECTION (REGISTERED NUMBER 02172518) 

## REPORT OF DIRECTORS AND TRUSTEES 

The Trustees who are also directors of the charity present their report together with the audited financial statements for the year ended 31 December 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The Trustees have adopted the provisions of ‘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). 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Governing Document 

The National Life Story Collection is a registered charity and a company limited by guarantee. Each of the members of the charity has undertaken to contribute an amount not exceeding £5 to the assets of the charity in the event of it being wound up while they are members, or within one year after they cease to be a member. The charity is governed by its Memorandum and Articles of Association. 

## Trustees 

The Trustees, each of whom is a director of the charity, are listed below: 

Dame Jenny Abramsky (Chair) Professor Jon Agar Professor Fareda Banda Bob Boas Professor Nelarine Cornelius Dr Andrew Flinn Amanda Game Bill Knight OBE Dr Robert Perks MBE Dr Jo Reilly Ms Mary Stewart Professor Paul Thompson Dr Janet Topp Fargion Jennifer Wingate 

Appointment of Trustees is governed by the articles of association of the charity. The Trustees are authorised to appoint new Trustees to fill vacancies arising until the next following annual general meeting when the new Trustees are eligible for election. 

The following Trustees retired by rotation and were re-elected at the AGM on 6 June 2023: 

Jon Agar, Bob Boas, Amanda Game and Janet Topp Fargion. 

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## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES (continued) 

Record of Trustee attendance at meetings during 2023 (comprising four full trustee meetings — the AGM and three Board meetings in March, July and December - plus four Finance Committee meetings in March, June, September and in November, where applicable). 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Dame|Jenny Abramsky|(Chair)|8|of|8|
|Professor|Jon|Agar|3|of 4|
|Professor|Fareda|Banda|4o0f4|
|Bob|Boas|(Treasurer)|7|of|8|
|Professor|Nelarine|Cornelius|6|of|8|
|Dr Andrew|Flinn|2|of 4|
|Amanda|Game|4o0f 4|
|Bill|Knight|OBE|5|of|8|
|Dr|Robert|Perks|MBE|4o0f4|
|Dr|Jo|Reilly|3|of 4|
|Ms|Mary|Stewart|8|of|8|
|Professor|Paul|Thompson|2|of 4|
|Dr|Janet|Topp|Fargion|2|of 4|
|Jennifer Wingate|4o0f 4|

**----- End of picture text -----**<br>


## Trustee Induction and Training 

All new Trustees are given a formal induction to help familiarise them with the practical work of the charity. They receive an induction pack containing the corporate governance document, a trustee role description, and copies of relevant minutes, policies and organisational information. They meet representatives of the Board to discuss and clarify their role. 

## Risk Management 

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with a review of controls over key financial areas, will provide sufficient resources in the event of adverse conditions. The Trustees also examine other operational and business risks faced by the charity and have established systems to mitigate the significant risks. A risk register is maintained and reviewed annually. 

## Organisational Structure and Related Parties 

The charity operates from the offices of the British Library (BL) and there is close co-operation between the two organisations, governed by a collaborative agreement which was reviewed and renewed in October 2022 for a further three years. The Oral History Section, of which NLS is part, is within the Sound and Vision department in the BL’s Collections Directorate. The Trustees are set to meet five times a year: four main meetings (of which one is a strategy meeting) and the AGM. In 2023, due to the timing of the AGM there were three Board meetings in addition to the AGM, as agreed with the Chair. The Director manages the work of the charity on a day-to-day basis supported by the core team of an Oral History Curator, an Archivist, and three part-time roles: Archive Assistant, Training Co-ordinator and Book-keeper. In March 2023 the Trustees agreed to confer formal positions in the charity to two existing team members. Dr Madeline White, the Oral History Curator, was approved as Deputy Director (a role not filled since Mary Stewart was promoted to Director in March 2021) and Charlie Morgan, Oral History Archivist, as NLS Archivist. A number of other staff, freelance staff, and individuals on unpaid placements also assist in the work of the charity. 

In 2003, the Trustees adopted a corporate governance document which regularised the business of the Charity and established an Audit Committee and a Remuneration Committee. In 2009 they established a Finance SubCommittee, chaired by the Treasurer, which meets four times a year and also acts as the Audit and Remuneration Committee. In 2023 the Committee met four times. At the 2017 AGM Trustees decided to merge the Executive Committee and the Board of Trustees. At the 2017 AGM it was also agreed that Trustees appointed from 2017 should serve for a fixed term of three years, renewable up to a maximum term of nine years. In 2024 the Trustees will evaluate all aspects of Corporate Governance as part of a periodic review. 

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## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES (continued) 

The term of service could be further extended if there was a particular business case to do so. In 2006 the charity adopted a trading name ‘National Life Stories’. 

NLS’ standard practice is to prepare a three-year business plan each autumn, which is updated and reviewed annually, dovetailed to BL strategic plans and an oral history strategy. In December 2023, due to the IT outage following the cyber-attack at the BL, a one-year plan for 2024 was prepared instead, In March 2021 the Trustees agreed a new five-year strategic plan (2021-2026), which the Director has brought for discussion and scrutiny at Board meetings and at the AGM 2023. 

## OBJECTIVES AND ACTIVITIES 

The object of the charity as stated in its constitution is to advance the education of the public by the establishment of a national biography in sound consisting of a national collection of autobiographical and other life story records. The charity relies on the fundraising efforts of its Trustees, staff and advisory committee members, and on the support of the British Library, to obtain the resources to carry out the oral history fieldwork programmes that comprise its core activity. It works collaboratively with the British Library to ensure the collected materials are professionally recorded, documented, catalogued, archived and made accessible to as wide an audience as possible, both onsite and remotely via the internet. It also works in partnership with a variety of public and private organisations to document the unique life stories of a wide cross-section of people living in the UK. 

## ACHIEVEMENTS AND PERFORMANCE IN 2023 

Throughout 2023 the Board continued to assess NLS activity and plans against the 2021-2026 strategic plan, which stressed the need for a variety of funding models for NLS projects and partnerships and added a refocused NLS communication strategy. NLS continues its efforts to capture a diverse cohort of interviewees in every project we undertake, and this continued in 2023 by adding interviews with a co-founder of UK Black History Month anda lead interviewer on the 1980s Hall Carpenter project; one of the first in the UK to record life histories in the gay and lesbian communities. NLS continues to support two collaborative doctoral award students, and secured funds for a third to start in autumn 2024. 

The NLS team continue to present their research and analysis in an array of academic and community settings. On 30 June and 1 July 2023 NLS hosted an international symposium at the British Library , bringing together leading international scholars to explore the life story, in dialogue with members of the NLS team. The talks will be brought to an even wider audience in an open access online special edition of Oral History to be published in June 2024 - further enhancing the academic reputation of NLS and the life story approach to oral history. 

NLS has several leads for commissions to run institutional history projects, continuing to draw on the expertise of the Trustees and Advisors on the Working Group on Corporate Histories, and relevant Project Advisory Committees. 

The contract with the RENEW programme (Renewing biodiversity through a people-in-nature approach) has brought in exciting new interviews on biodiversity and collaborative practice, and we are delighted that this partnership has been extended until at least the end of 2024. RENEW is a University of Exeter project funded by the Natural Environment Research Council (NERC grant number NE/W004941/1). NLS’s two flagship programmes Artists’ Lives and Architects’ Lives continue and we were delighted that former Project Director Cathy Courtney was awarded an MBE in 2023. NLS was commissioned by Historic Houses to record six life stories as part of their 50‘ anniversary - a project that complements both Architects’ Lives and previous work on agriculture and land management. Interviews continue for An Oral History of the Royal Academy of Music and with theatre photographers. 

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## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES (continued) 

In our role as the national centre for oral history, the core NLS team has continued to be at the heart of formulating and disseminating best-practice advice for oral history. The charity continues to work with the Oral History Society to organise and administer a programme of oral history training courses, delivered both inperson and by way of remote delivery via Zoom video conferencing. The training programme has thrived and by the end of 2023 41 scheduled courses were held training over 435 people, and 56 tailored courses for individual projects training over 360 attendees. 

NLS continues its partnership role in a number of high-profile research projects. To mark World AIDS Day, NLS hosted an event to celebrate the completion of recordings for partner project ‘Positively Spoken: Growing Up with HIV’ — run by Chiva (the UK Charity that enhances the health and psychosocial wellbeing of children, young people and young adults living with HIV) through a National Lottery Heritage Fund (NLHF) grant. We have received the material from completed research projects on petitioning based at Durham University, Gender Equalities at Work project run by researchers from UWE Bristol, UCL and the University of Edinburgh and over 150 interviews on the 40" anniversary of the Miners’ Strike by Robert Gildea at the University of Oxford. We continue to work with the Law Centres project led by Linda Mulcahy at the Centre for Socio-Legal Studies at Oxford University’s Law Faculty, An Oral History of the Environmental Movement in the UK with colleagues at Royal Holloway will capture 100 interviews with environmental activists, we will archive the interviews from Histories of Sexual Health in Britain, 1918-1980 led by Dr Anne Hanley at the University of Birmingham, and interviews with Lawyers in the Miners’ Strike 1984-1985 by Dr Joanna Gilmore at York University. An Oral History of British Nuclear Test Veterans continues at the University of South Wales and the University of Liverpool funded by the Office for Veterans’ Affairs in the Cabinet Office. 

New research partnerships include a project run by Rape Crisis England and Wales reflecting on 50 years of its history, funded by NLHF and run in partnership with the Centre for Socio-Legal Studies at Oxford University. NLS is the archive partner for From institution to independent living - 50 years of supporting people with learning disabilities in England an NLHF-funded project by charity United Response which commenced in autumn 2023. NLS will archive the interviews from ‘Remaking Britain: British Asians Speak’: the oral history component of Remaking Britain: South Asian Connections and Networks, 1830s to the Present, a joint project between Queen Mary University of London, the University of Bristol and the British Library. NLS will archive the oral history interviews produced by Race and Sexual and Reproductive Health Charities in Postwar Britain, 1960s-2020s - a research project funded by the Swiss National Science Foundation at the Graduate Institute of International and Development Studies in Geneva, Switzerland. 

NLS is the named archival partner on a number of submitted applications awaiting decision by funding bodies and research councils. 

In late October 2023 the British Library experienced a cyber-attack, resulting in a major technology outage and ongoing disruption to the Library’s website, online systems and services. Later in 2023 the Library confirmed that this was a ransomware attack, by a group known for such criminal activity, and explained that some user and staff personal data was published on the dark web. In December 2023 the NLS Director reported the BL cyber-attack as an incident affecting NLS to the Charity Commission, Companies House, the ICO and NLS auditors Parker Cavendish. No further action from NLS was requested by any of these organisations. 

There is no evidence to suggest any NLS data or the archived oral histories in the BL’s care has been affected, however at the time of writing this report (April 2024) there is no staff access to any digital content held by the BL on network storage or in our digital repositories. At present there is no online access to sound and moving image data on the interim BL catalogue, and the British Library website has returned only in skeleton form. 

All of the NLS team regained access to their BL email accounts within weeks of the attack. The NLS interviewing programme and all training courses have continued relatively unimpeded, as both take place inperson or online on a non-BL system. The NLS Archivist has brought in an alternative temporary back up system for the audio files. Cataloguing work has continued, where possible, using MS Excel. It was not possible to prepare the full NLS business plan for the upcoming three years, so outline projections for 2024 were presented to the Trustees instead. 

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## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES (continued) 

The loss of public access to collection material, catalogue metadata and online digital learning resources is a blow to NLS’s reputation. The Director and Trustees will continue to monitor the impact on funders’ trust in the Library and any tangible blocks to new funding streams. 

## PUBLIC BENEFIT 

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011. 

The charity works with a variety of partners, organisations, individuals and users to create a unique national collection of life stories accessible to all via the British Library. It delivers services ranging from information about oral history and life story methodology to archival advice. As the leading charity of its kind in the UK it acts as a centre of excellence, offering best-practice advice on a daily basis to many organisations, individuals, charities, groups, funders and policy-makers. 

## FINANCIAL REVIEW 

The Statement of Financial Activities shows total income for the year of £288,646 and total expenditure of £347,375. This expenditure total includes restricted income raised in previous years and now spent on project activity. Donations for specific projects are shown as income in the year of receipt whereas the related expenditure is shown when incurred which is often in a subsequent year. As regards activities not related to specific projects, unrestricted expenditure exceeded unrestricted income by £9,403, but after taking into account net losses on investments of £17,272, unrestricted funds at 31 December 2023 amounted to £649, 147 (£675,822 at 31 December 2022). The reserves at the year-end amounted to £945,448. Of this total, £296,301 is restricted to expenditure committed to ongoing projects, and a further £200,000 is the Founders Donation. 

## Principal Funding Sources 

Significant donations for the Artists’ Lives programme included; £9,812 from the Yale Center for British Art, £10,000 from Victoria Miro, £6,000 from The Gabo Trust and £14,700 from Nicholas Logsdail at Lisson Gallery. Gry lverslien, Lubaina Himid and the friends and family of Rory Young donated funds for specific interviews. NLS received the second instalment of the generous donation from John and Helen Burgess for An Oral History of the Royal Academy of Music. We are grateful to Sandra Lousada and Julia Barfield for supporting Architects’ Lives. The J Paul Getty Jr Charitable Trust gave a £5,000 donation to supplement the generosity of Judith Goodison and the wider Goodison family to support a future Crafts Lives web resource in memory of the late NLS Chair Sir Nicholas Goodison. We welcomed £67,086 from the University of Exeter to fund NLS’s contribution to the RENEW programme, £1,500 from London South Bank University to cover supervision costs for the Daphne Jackson Fellow and £12,572 from Historic Houses as the first of two instalments. Our Patrons scheme is raising regular income through both annual and monthly donations. We thank our Patrons Sir John Baker, Peter Blackburn, Lesley Knox and Bill Knight. Where possible NLS claimed Gift Aid on donations. 

## Investment Policy 

Having considered the options available, the Trustees continued to hold the charity’s funds in a mixture of Investment Funds and bank deposit accounts. NLS investment analysis and decision-making incorporates a review of each fund’s performance in environmental, sustainability and governance factors, benchmarking these using recognised international indexes on at least an annual basis. 

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## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES (continued) 

## Reserves Policy 

The charity maintains two funds. Restricted funds are to be used for the purpose specified by the donor. Unrestricted funds are intended to provide sufficient resources to maintain the general activities of the charity. The Founder's Donation is the establishing donation given to NLS to contribute to the support of general activities. The Trustees carry out an annual review of the charity’s reserves. 

## PLANS FOR FUTURE PERIODS 

Plans for 2024 will need to adapt to the pace of restoration of BL digital and online services following the cyberattack on the British Library in October 2023. 

In 2024 the Director and Chair will lead a wide-ranging corporate governance review, to sense check that the Board's structure, remit, meetings and personnel are fit for purpose. All Trustees will complete a skills audit and have an informal conversation with the Chair and Director to canvas views, before recommendations are presented to the Board and AGM. 

We continue with the flagship Artists’ Lives and Architects’ Lives programmes, and newer commissions such as An Oral History of the Royal Academy of Music and Historic Houses. We are delighted to embark on five interviews to cover the history of the property development firm Argent. The RENEW programme with the University of Exeter will continue until at least the end of 2024, strengthening NLS’s science and environment collections, and NLS seeks to further develop this area by pursuing funding for a project on data science to start in early 2025. Sufficient funds have been found to establish a Crafts Lives web resource in memory of Sir Nicholas Goodison — but plans will need to wait until the resumption of British Library website services following the cyber-attack. 

We remain committed to fundraising to take forward City Lives Revisited. We will continue to develop our ideas around an initiative documenting British design. NLS has engaged a freelance interviewer to complete the remaining interviews for Authors’ Lives and we plan to work up funding proposals secure further funds for this project from 2025 onwards. 

In partnership with the Oral History Society, NLS will host a one-day Oral History Festival on 6 July 2024 at the British Library, bringing together oral historians from the UK and internationally. This event will see the launch of the online open-access special issue of the Oral History journal, stemming from the 2023 symposium. 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES 

The Trustees (who are also the directors of The National Life Story Collection for the purposes of company law) are responsible for preparing the report of the 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent: 

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

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## THE NATIONAL LIFE STORY COLLECTION 

## REPORT OF DIRECTORS AND TRUSTEES (continued) 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## In so far as the Trustees are aware: 

- there is no relevant audit information of which the charity's auditors are unaware; and 

- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS 

So far as the Trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charity's auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charity's auditors are aware of that information. 

The Trustees consider that the charity has sufficient reserves to continue its activities for the foreseeable future and, accordingly, the financial statements are prepared on a going concern basis. 

## AUDITORS 

The auditors, Parker Cavendish, will be proposed for re-appointment at the Annual General Meeting. 

Approved by the Board of Trustees on 20 May 2024 and signed on its behalf. 


**----- Start of picture text -----**<br>
Dame Jenny Abra —_——<br>Chair of Trustees<br>**----- End of picture text -----**<br>


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## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LIFE STORY COLLECTION 

## Opinion 

We have audited the financial statements of The National Life Story Collection (the ‘charitable company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’. 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its result, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and - have been prepared in accordance with the requirements of the Companies Act 2006. 

## 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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. 

## 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 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 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 Report of the Independent Auditors 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 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 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 ofthis other information, we are required to report that fact. We have nothing to report in this regard. 

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## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LIFE STORY COLLECTION 

## Opinions on other matters prescribed by the Companies Act 2006 

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

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

## Matters on which we are required to report by exception 

In the light of the knowledge and understanding of[the][charitable][company][and][its][environment][obtained][in][the] course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## Responsibilities of Trustees 

As explained more fully in the Statement of Trustees' Responsibilities, 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 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 charitable company 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 a Report of the Independent Auditors 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. 

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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 

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## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LIFE STORY COLLECTION 

- identification of laws and regulations applicable to the company which may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, taxation legislation, data protection, anti-bribery, employment and health & safety legislation; 

- assessing the extent of compliance with the laws and regulations identified above through making enquiries of management, inspecting relevant correspondence and reviewing minutes of meetings of those charged with governance; 

- discussions with the management on consideration of known or suspected instances of non-compliance with laws and regulations and fraud; 

- evaluation of internal controls designed to prevent and detect irregularities; 

- performing analytical procedures to identify any unusual or unexpected relationships; 

- testing journal entries to identify unusual transactions; 

- assessing whether there was evidence of bias by the management in relation to accounting estimates; 

- investigating the rationale behind significant or unusual transactions; 

- agreeing financial statement disclosures to underlying supporting documentation; and 

- enquiring of management as to actual and potential litigation and claims. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 

Material misstatements that arise due to fraud can be 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 Report of the Independent Auditors. 

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## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE NATIONAL LIFE STORY COLLECTION 

## Use of our report 

This report is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an auditors' 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 and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Raymond Rubenstein (Senior Statutory Auditor) for and on behalf of Parker Cavendish Chartered Accountants Registered Auditors 28 Church Road Stanmore Middlesex HA7 4XR 

Date: 20 May 2024 

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## THE NATIONAL LIFE STORY COLLECTION 

## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) 

## YEAR ENDED 31 DECEMBER 2023 

||Notes|Restricted|Unrestricted|Unrestricted|Total|
|---|---|---|---|---|---|
|||Fund|Fund|2023|2022|
|||£|£|£|£|
|INCOME:||||||
|Donations and legacies|2|193,245|11,049|204,294|200,103|
|Investment income|3|3,677|28,844|32,521|25,964|
|Training income||-|47,441|47,441|45,930|
|Sundry income||-|4,390|4,390|2,991|
|TOTAL INCOME||196,922|91,724|288,646|274,988|
|EXPENDITURE||||||
|Direct training expenses||-|33,856|33,856!|15,501|
|Charitable activities|4|246,248|67,271|313,519|237,813|
|TOTAL EXPENDITURE||246,248|101,127|347,375|253,314|
|Total income less total expenditure||(49,326)|(9,403)|(58,729)|21,674|
|Net (losses) / gains on investments|7|(3,322)|(17,272)|(20,594)|(48,915)|
|NET INCOME/(EXPENDITURE) and||||||
|net movement in funds forthe year||(52,648)|(26,675)|(79,323)|(27,241)|
|Reconciliation of Funds:||||||
|Total funds brought forward||348,949|675,822|1,024,771|1,052,012|
|Totalfundscarriedforward|10|296,301|649,147|945,448|1,024,771|



The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. 

The notes on pages 16 to 23 form part of these accounts. 

1|n 2022 direct training expenses excluded bookkeeping and administration costs. From 2023 direct training expenses include the costs of the Training Co-ordinator, but exclude bookkeeping costs and time spent by other NLS staff. 13 



## THE NATIONAL LIFE STORY COLLECTION 

## STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2023 

||||2023||2022|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|FIXED ASSETS||||||
|Investments|7||850,841||871,435|
|Total Fixed assets|||850,841||871,435|
|CURRENT ASSETS||||||
|Debtors|8|2,377||9,867||
|Cash at bank and in hand||129,026||167,200||
|Total Current Assets||131,403||177,067||
|LIABILITIES||||||
|Creditors falling due within||||||
|one year|9|(36,796)||(23,731)||
|Net Current Assets|||94,607||153,336|
|NET ASSETS|||945,448||1,024,771|
|THE FUNDS OF THE CHARITY:||||||
|Founder’s donation|10||200,000||200,000|
|Unrestricted fund|10||449,147||475,822|
|Restricted fund|10||296,301||348,949|
|TOTALCHARITYFUNDS|11||945,448||1,024,771|



The notes on pages 16 to 23 form part of these accounts. 

The accounts were approved by the Board on 20 May 2024 and signed on its behalf by: “ms Dame Jenny Ab Chair of Trustees 

14 



## THE NATIONAL LIFE STORY COLLECTION 

## STATEMENT OF CASH FLOWS 

## YEAR ENDED 31 DECEMBER 2023 

||2023|2022|
|---|---|---|
||£|£|
|Cash flows from operating activities:|||
|Net cash used in operating activities|(70,695)|(26,877)|
|Cash flows from investing activities:|||
|Investment Income|32,521|25,964|
|Net cash provided by investing activities|32,521|25,964|
|Change in cash and cash equivalents in the year|(38,174)|(913)|
|Cash and cash equivalents at the beginning ofthe year|167,200|168,113|
|Total cash and cash equivalents atthe end ofthe year|129,026|167,200|
|Reconciliation of net expenditure to net cash flow|||
|from operating activities|||
|Net (expenditure) income for reporting period perSOFA|(79,323)|(27,241)|
|Adjustments for:|||
|Loss on investments|20,594|48,915|
|Investment income|(32,521)|(25,964)|
|Decrease in debtors|7,490|3,433|
|Increase/(Decrease) in creditors|13,065|(26,020)|
|Net cash used in operating activities|(70,695)|(28,877)|
|Analysis ofcash & cash equivalents|||
|Cash at bank and in hand|129,026|167,200|
|Totalcashandcashequivalentsattheendoftheyear|129,026|167,200|



15 



## THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

1. ACCOUNTING POLICIES 

The principal accounting policies adopted, judgements and key resources of estimation uncertainty in the preparation of the financial statements are as follows: 

1.1 Basis of preparation of accounts The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and applicable company and charity law in the UK. 

The National Life Story collection 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 note(s). 

- 1.2 Fund accounting Restricted funds can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. 

- 1.3 Incoming resources 

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular income: 

- Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. 

- Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. 

- Donated services and facilities and the value of services provided by volunteers are acknowledged but have not been included in these accounts. 

- Investment income is included when receivable. 

- Other income including training income is included when receivable. 

## 4A Resources expended 

Expenditure is recognised on an accrual basis as a liability is incurred. All costs are allocated between the expenditure categories of the SOFA on a basis to reflect the use of the resource. Costs relating to particular activity are allocated directly, others are apportioned on an appropriate basis consistent with the use of resources. 

- Expenditure relating to generating income. 

- Expenditure on charitable activities comprise those costs incurred by the charity in the delivery 

- of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, as well as governance costs. 

16 



THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

## ue ACCOUNTING POLICIES (continued) 

- 1.5 Resources expended Expenditure is recognised on an accrual basis asa liability is incurred. All costs are allocated between the expenditure categories of the SOFA on a basis to reflect the use of the resource. Costs relating to particular activity are allocated directly, others are apportioned on an appropriate basis consistent with the use of resources. 

   - Expenditure relating to generating income. 

   - - Expenditure on charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, as well as governance costs. 

- 1.6 Fixed assets and depreciation Small items of recording equipment are not capitalised and are written off in the income and expenditure account in the year of purchase. 

- 1.7 Investments Fixed asset investments are stated at market value at the balance sheet date. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities. 

1.8 Financial instruments The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## Cash and cash equivalents 

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of twelve months or less. 

## Debtors and creditors 

Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price. 

1.9 Taxation The charity is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects. 

1.10 Going Concern The Trustees consider that the charity has sufficient reserves to continue its activities for the foreseeable future and, accordingly, the financial statements are prepared on a going concern basis. 

17 



THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

|2.|DONATIONS||||||
|---|---|---|---|---|---|---|
||||||Total||
|||Restricted|Unrestricted|2023||2022|
|||£|£|£||£|
||Arcadia Land|-|-|-||83,806|
||Artists|46 363|-|46 363||60,273|
||Artists - Gabo|6,000|-|6,000||-|
||Architects<br>Craft|8,400<br>30,000|-<br>-|8,400<br>30,000||(2,234)<br>-|
||General|-|-|-||6,000|
||Historic Houses|12,572|-|12,572||-|
||Legal|-|-|-||3,838|
||Royal Academy of Music|-|-|-||25,000|
||Royal Society|2,824|-|2,824||4,010|
||Science Templeton|20,000|-|20,000||-|
||Exeter RENEW|67,086|-|67,086||-|
||Core funds|-|11,049|11,049||19,410|
|||193,245|11,049|204,294||200,103|
|3:|INVESTMENT INCOME||||||
|||Restricted|Unrestricted|2023||2022|
|||£|£|£||£|
||Bank interest received|-|5,364|5,364||118|
||UK Managed - M&G|2,047|13,914|15,961||18,220|
||UK Managed<br>- Ruffer LLP|958|6,077|7,035||7,626|
||UK Managed<br>- Sanlam|672|3,489|4,161||-|
|||3,677|28,844|32,521||25,964|



18 



## THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

|4.<br>EXPENDITURE ON CHARITABLE|ACTIVITIES||||
|---|---|---|---|---|
||Restricted|Unrestricted|Total|Total|
||Fund|Fund|2023|2022|
||£|£|£|£|
|Charitable activities|||||
|Salary and pension costs|95,219|75,343|170,562|95,928|
|Interviewing expenses and travel|10,409|2,362|12,771|9,053|
|Consultancy|69,043|7,158|76,201|84,389|
|Stafftraining, conferences & recruitment|-|3,829|3,829|6,112|
|Transcription costs|12,830|912|13,742|13,886|
|Printing, postage and stationery|61|4,034|4,095|4,860|
|Hospitality|-|1,758|1,758|1,210|
|Insurance|-|1,379|1,379|1,251|
|Equipment, repairs and renewals|82|1,883|1,965|2,525|
|Publications and subscriptions|5/|457|514|386|
|NLS Public event|2,150|7,172|9,322|-|
|Audit|-|4,800|4,800|3,670|
|Accountancy|-|11,931|11,931|9,038|
|Sundry expenses|163|487|650|$73|
|Legal fees|-|-|-|4,932|
||190,014|123,505|313,519|237,813|
|Overhead allocation|56,234|(56,234)|-|-|
||246,248|67,271|313,519|237,813|
|Yearended31December2022|175,194|62,619|237,813||



All expenditure incurred is directly related to the charitable activity of establishing a national collection of autobiographical and other life story records. 

5. ANALYSIS OF STAFF COST, TRUSTEE REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL 

|KEY MANAGEMENT PERSONNEL|||
|---|---|---|
||2023|2022|
||£|£|
|Wages and salaries|150,424|80,773|
|Social security costs|7,917|5,017|
|Pension costs|12,221|10,138|
||170,562|95,928|



There are no employees whose emoluments exceeded £60,000 during the year. 

The key management personnel of the charity, in the current and prior year, are the Trustees. Trustee remuneration and expenses - One Trustee received training fees and expenses of £1,030. Expenses were reimbursed to one Trustee totalling £5,583 to cover multiple bookings for accommodation for the Symposium and the OHS conference (2022: £2,158). No other trustee received any remuneration during the year. 

? From January 2023 two Project Director roles have been contracted as NLS employees, explaining the rise in salary and pension expenditure in 2023. 

19 



THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

6. STAFF NUMBERS 

The average monthly number of staff employed by the charity during the year was as follows: 

||||2023|2022|
|---|---|---|---|---|
||||Number|Number|
||Charitable||4|3|
|ve|INVESTMENTS||||
||||2023|2022|
||||£|£|
||Market value||||
||At1January<br>Additions<br>Disposals||871,435<br>318,874<br>(318,874)|920,350<br>-<br>-|
||Net loss on revaluation||(20,594)|(48,915)|
||At 31 December||850,841|871,435|
||Made up of:||||
||Listed investments||||
|||- UK Managed- M&G|320,085|322,574|
|||- UK Managed- Ruffer LLP|285,666|312,237|
|||- UK Managed-Sanlam|245,090|236,624|
||||850,841|871,435|



Included in the above is £200,694 (2022: £195,613) relating to the restricted funds. 

The historic cost of listed investments at 31 December 2023 was £678,053 (2022: £678,053). 

|8.|DEBTORS||||2023|2022|
|---|---|---|---|---|---|---|
||||||£|£|
||Debtors||||1,506|5,100|
||Prepayments|and|accrued|income|871|4,767|
||||||2,377|9,867|



20 



## THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

|||2023|2022|
|---|---|---|---|
|||£|£|
|9.|CREDITORS: Amounts falling due|||
||within one year|||
||Accrualsanddeferredincome|36,796|23,731|



## 10. MOVEMENTS IN FUNDS 

||At 1 January|Incoming|Outgoing|Loss on|At 31 December|
|---|---|---|---|---|---|
||2023|resources|resources|investments|2023|
|Restricted Funds:|£|£|£|£|£|
|Arcadia Land|52,633|-|(52,284)|-|349|
|Architects<br>Artists|12,295<br>43,415|8,400<br>46,363|(18,555)<br>(39,028)|-<br>-|2,140<br>50,750|
|Artists (Mellon)|9,959|-|-|-|9,959|
|Artists — Rootstein Hopkins|144,657|3,677|(44,063)|(3,322)|100,949|
|Artists - Gabo|2,659|6,000|(3,506)|-|5/153|
|Artists - Henry Moore|9,343|||-|9,343|
|Authors’ Lives|23,304|-|(2,700)||20,604|
|Britain Building the World|3,504|-|(1,366)|-|2,138|
|Crafts<br>Cartier|2,259<br>3,591|30,000<br>-|(1,267)|-<br>-|32,259<br>2,324|
|City Lives|1,316|-|(116)||1,200|
|Design Lives|1,774|||-|1,774|
|ExeterRENEW|-|67,086|(60,400)|-|6,686|
|General<br>Historic Houses|7,034<br>-|12,572|(1,633)<br>(5,005)|-|5.898<br>7,567|
|Legal Lives|884|||-|884|
|Royal Academy of Music|16,897|20,000|(13,963)|-|22,934|
|Royal Court|1,951|-|-|-|1,951|
|Royal Society|-|2,824|(2,362)|-|462|
|Science|610|-|-|-|610|
|Science— Templeton|68|-|-|-|68|
|Talking Therapist|2,500|-|-|-|2,500|
|Theatre Design|2,907|-||-|2,907|
|Web Resources|3,000|-|-|-|3,000|
|Wellcome Trust|1,892|-||-|1,892|
||348,949|196,922|(246,248)|(3,322)|296,301|
|Unrestricted funds:||||||
|Founders donation|200,000|-|-|-|200,000|
|General funds|~~475,822~~|~~91,724~~|~~(101,127)~~|~~(17,272)~~|~~449,147~~|
||675,822|91,724|(101,127)|(17,272)|649,147|
|Totalfunds|~~1,024,771~~|~~288,646~~|~~(347,375)~~|~~(20,594)~~|~~945,448~~|



21 



## THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

## 10. MOVEMENTS IN FUNDS (comparatives) 

||At1January|Incoming|Outgoing|Loss on|At 31 December|
|---|---|---|---|---|---|
||2022|resources|resources|investments|2022|
|Restricted Funds:|£|£|£|£|£|
|Arcadia Land|39,969|83,806|(71,142)|-|52,633|
|Architects<br>Artists|18,030<br>16,010|(2,234)$ 60,273|(3,501)<br>(32,868)|-<br>-|12,295<br>43,415|
|Artists (Mellon)|9,959|-|-|-|9,959|
|Artists — Rootstein Hopkins|179,234|4,433|(29,513)|(9,497)|144,657|
|Artists - Gabo|9,000||(6,341)|-|2,659|
|Artists - Henry Moore|10,277||(934)|-|9,343|
|Britain Building the World|3,504|-|-|-|3,504|
|Crafts<br>Cartier|2,419<br>6,881|-<br>-|(160)<br>(3,290)|-<br>-|2,259<br>3,591|
|Design Lives|2,357||(583)|-|1,774|
|Authors’ Lives|26,713|-|(3,409)|-|23,304|
|City Lives|1,316||-|-|1,316|
|Legal Lives|3,081|3,838|(6,035)|-|884|
|Royal Academy of Music|-|25,000|(8,103)|-|16,897|
|Royal Court|1,951|-|-|-|1,951|
|Royal Society|-|4,010|(4,010)|-|-|
|Science|610|-|-|-|610|
|Science— Templeton|173|-|(705)|-|68|
|Electricity<br>General|389<br>5,328|-<br>6,000|(389)<br>(3,797)|-<br>-|-<br>7,531|
|Talking Therapist|2,500|-|-|-|2,500|
|Theatre Design|2,993|-|(86)|-|2,907|
|Web Resources|3,000|-|-|-|3,000|
|Wellcome Trust|~~2,220~~|~~-~~|~~(328)~~|~~-~~|~~1,892~~|
||348,514|185,126|(175,194)|(9,497)|348,949|
|Unrestricted funds:||||||
|Founders donation|200,000|-|-|-|200,000|
|General funds|~~503,498~~|~~89,862~~|~~(78,120)~~|~~(39,418)~~|~~475,822~~|
||703,498|89,862|(78,120)|(39,418)|675,822|
|Totalfunds|~~1,052,012~~|~~274,988~~|~~(253,314)~~|(48,915)|~~1,024,771~~|



Restricted funds are limited to expenditure on specific projects and the restricted funds balance represents donations received, the expenditure of which has not yet been incurred. Unrestricted funds have no such limitations. The Founder’s Donation is the establishing donation given to NLS, the income from which contributes to the support of general activities including administration. 

> 3 Income had been credited to this account for an invoice issued in 2020, but the invoice has not been paid in full. This sum accounts for the funds that did not materialise. 

22 



THE NATIONAL LIFE STORY COLLECTION 

## NOTES TO THE 2023 ACCOUNTS 

## 11. ANALYSIS OF NET FUNDS 

||Restricted|Unrestricted|2023|2022|
|---|---|---|---|---|
||£|£|£|£;|
|Fixed assets|200,694|649,147|849,841|871,435|
|Net current assets|95,607|-|95,607|153,336|
||296,301|649,147|945,448|1,024,771|



## 12. RELATED PARTY TRANSACTIONS 

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

## 13. CYBER-ATTACK ON THE BRITISH LIBRARY 

In late October 2023 the British Library experienced a cyber-attack, resulting in major technology outage and ongoing disruption to the Library's website, online systems and services. This has affected access to the charity's data held on British Library networked storage and access to digital collection material. There has been no significant effect on ongoing interviewing projects, and the NLS team continue to work with British Library colleagues as access to data is restored. In the opinion of the Trustees this event does not adversely affect the preparation of the financial statements on the going concern basis. 

23 



## THE NATIONAL LIFE STORY COLLECTION 

## INCOME AND EXPENDITURE ACCOUNT 

## FOR THE YEAR ENDED 31 DECEMBER 2023 

||2023||2022||
|---|---|---|---|---|
||£|£|£|£|
|INCOME|||||
|Donations|204,294||200,103||
|Bank interest receivable|5,364||118||
|Investment income|27 A5¢||25,846||
|Miscellaneous income|51,831||48,921||
|||288,646||274,988|
|EXPENDITURE|||||
|Salaries|150,424||80,773||
|Employer's National Insurance|LO1¢||5,017||
|Pension costs|12,221||10,138||
|Travel and subsistence|12,771||9,053||
|Consultancy|76,201||84,389||
|Trainer’s fees and travel|14,602||13,374||
|Training expenses|19,254||2,127||
|Staff training, conferences & recruitment|3,829||6,112||
|Transcription costs|13,742||13,886||
|Printing, postage and stationery|4,095||4,860||
|Hospitality|1,758||1,210||
|NLS Public event|9,322||-||
|Insurance|1,379||1,251||
|Equipment, repairs and renewals|1,965||2,525||
|Publication and subscriptions|514||386||
|Audit fees|4,800||3,670||
|Accountancy|11,931||9,038||
|Sundry expenses|650||573||
|Legal fees|-||4,932||
|||347,375||253,314|
|NET(EXPENDITURE)/INCOMEFORTHEFINANCIALYEAR||(58,729)||21,674|



This page does not form part of the statutory accounts. 

24