| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Bath Social & Development Research |
| Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Bath Social & Development Research |
| Limited |
| Bath Social & Development Research |
| Limited (Registered number: 09926013) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Balance Sheet | 1 |
| Bath Social & Development Research |
| Limited (Registered number: 09926013) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| £ | £ | £ | £ |
| FIXED ASSETS |
| CURRENT ASSETS |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| RESERVES |
| NOTES TO THE FINANCIAL STATEMENTS |
| 1. | STATUTORY INFORMATION |
| Bath Social & Development Research Limited is a |
| Registered number: |
| Registered office: |
| Bath Social & Development Research |
| Limited (Registered number: 09926013) |
| Balance Sheet - continued |
| 31 December 2024 |
| NOTES TO THE FINANCIAL STATEMENTS |
| 2. | DIRECTORS' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 |
| The directors present their report and the audited financial statements for the year ended 31 December 2024. |
| Principal activities and review |
| Bath Social & Development Research Ltd was established in 2015 as a not-for-profit company, founded by a small team of researchers from the University of Bath with the ambition to bring more research into practice. Our mission revolves around disrupting 'business as usual' in evaluation - promoting better standards of qualitative and mixed methods impact evaluation of investments with explicit social and development goals. The launchpad for this was the development of the QuIP (Qualitative Impact Protocol), curated and nurtured by Bath SDR. |
| Bath SDR has a broad remit to provide research, training, advisory and consultancy services contributing to policies and practices promoting sustainable local, national and global development, well-being and social justice. We are a small hub of like-minded individuals at the centre of a larger network of trained associates, and aspire to stay small. |
| As a non-profit organisation, surplus revenue is reinvested in dissemination and development activities which make the QuIP more accessible to as many organisations as possible. Each year the board reviews the retained earnings and allocates this sum between working capital required to keep the company solvent during the year, a reserve which is calculated at 3 months of operating costs to smooth out shocks and ensure we can meet any debt obligations in the event of closure, and a pot for investment in other activities which help to meet the aims of the company. |
| In 2023 the opening retained earnings totalled £72,188 and year-end earnings totalled -£5,926. This meant a total equity of £66,262. |
| The allocation for working capital from retained earnings for 2024 was £30,000. |
| The reserve allocation for 2024 was £33,500. |
| This left £2,762 available as a working surplus. We also note an unspent remainder of £6,311 from the 2022 surplus which was carried forward. Together with the carried forward amount the new total working surplus was £9,074. |
| Investment made by Bath SDR in 2024 |
| The total investment made during this period was £11,224, an overspend of £2,151. This was made up of the following: |
| Causal Map investment: £6,228 |
| -Support of staff payments at Causal Map Ltd |
| Supporting publications and conference presentations: £4,996 |
| We continued to raise the profile of the protocol in academic and practitioner circles through conferences and printing and publication of case studies and papers. This included: |
| -Attendance and presentation at the 2024 European Evaluation Society conference |
| -Translation of QuIP guidelines into German and Levantine Arabic |
| -Significant time in kind of staff members was dedicated to writing case studies papers for publication, but this was not tracked as a cost |
| -We acknowledge and are grateful for the time that Director Prof James Copestake contributed to continuing to write papers and attending conferences which was largely covered by the Centre for Development Studies as part of his work at the University of Bath. Bath SDR paid a licence fee of £2,554 to the University of Bath in 2024, some of which goes towards these costs within CDS. In addition, Bath SDR paid £1,437.50 in director's consultancy fees to cover time spent delivering training and reviewing reports. |
| Our continuing commitment to writing, presenting and training plays an important role in the impact Bath SDR can make in promoting the QuIP. We are aware of a number of organisations using QuIP independently of Bath SDR for evaluations around the world, following participation in the training or simply by reading the resources we have made freely available. |
| Bath Social & Development Research |
| Limited (Registered number: 09926013) |
| Balance Sheet - continued |
| 31 December 2024 |
| NOTES TO THE FINANCIAL STATEMENTS |
| Plan for 2024-2025 investment |
| Please note that the opening retained earnings total for 2024 has been adjusted since we made the decision to reinstate accounting standard FRS 105 from FRS 102. This de-recognises deferred tax (£293 in the 2023 accounts), adjusting the opening retained earnings to £66,555. |
| 2024 opening retained earnings: £66,555 |
| 2024 earnings: £2,740 |
| Total equity: £69,295 |
| Allocation for working capital from retained earnings: £30,000. |
| Reserve allocation for 2025: £33,500. |
| Overspend on investment costs in 2024: -£2,151 |
| Expected investment surplus available for 2025: £3,645 |
| 3. | AVERAGE NUMBER OF EMPLOYEES |
| The average number of employees during the year was |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |