The trustees present their annual report and financial statements for the year ended 30 September 2021.
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 Companies Act 2006 and "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) " (effective 1 January 2019 ).
The charity's objects are t o advance the education for the public in the humanities by such means as the trustees deem appropriate, including but not limited to educational tutorials, articles and research in all aspects of that subject and to publish the useful results into the public domain.
The core aim of the charity is in publishing open-access, peer reviewed, multilingual article-length tutorials.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
This year has been a busy year of growth for the Programming Historian .
In 2020-21, we continued our core work of publishing open-access, peer reviewed, multilingual article-length tutorials. We also undertook two major administrative tasks in support of our objects:
- the first was to transition from a company with not-for-profit articles of association to be coming a charity, which has mean t that we c an maximise the financial impact of the financial contributions we receive;
- the second task was to appoint our first employee, a Digital Humanities Publishing Assistant who is helping to streamline our publishing workflows, supporting the training of new editorial team members, and improving project documentation .
In January, we launched Programming Historian e m Português. Th is newly established team comprised of members from Portugal and Brazil, who had by the year end already published a series of translation articles, with publication of their first original articles forthcoming. Such resources have been keenly awaited, and this launch has been greatly celebrated by the active cohort of digital humanities scholars across Lusophone nations.
In July, Programming Historian en Español proudly passed the milestone of fifty published lessons, with four of the most recent five being original Spanish-language texts.
This September our English team opened a call for new editors following their busiest season to date, in which they received a record number of new lesson proposals.
B y year end, Programming Historian en F rançais had published six lessons , of which one was the first French-original article, with a second French-original in the pipeline.
Site usage declined slightly to 1.43m unique users from 1.44m in the previous period. However, the overall figures mask large growth in audience s in key strategic area s , including Mexico (up 2.8%), Argentina (up 9%), Brazil (up 37%) and France (up 49%).
The Charity's finances have improved steadily as it has established itself in its second year since incorporating as a company limited by guarantee.
There was a surplus for the year of £22,828 and unrestricted funds at 30th September 2021 stood at £15,425 (2020: £1,760). During the year total income was £31,952 (2020: £5,820), with expenditure at £9,124 (2020: £4,060).
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
In the year, with finances both healthy and growing, we took the decision to bring in an employee. In order to create stability in their role, and recognising both our inexperience as employers and the financial uncertainty of the higher education sector , upon which we rely upon for financial contributions, we took a conservative approach to building up our unrestricted reserves. By the year end we ha ve accumulated unrestricted reserves of £13,368, which covers over 6 months operating costs , and this has prompt ed agreement to look at investment in the next period.
The charity is a company limited by guarantee with company registration number 12192946 and is governed by its Memorandum and Articles of Association, as updated by the members' special resolution on 31st August 2021. ProgHist is also a registered charity, with charity registration number 1195875.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Method of recruitment and appointment of trustees
Our Trustees are all members of the Programming Historian Editorial Board, and include the Managing Editors of three language publications, each on 3-year appointments.
If we need to recruit in the future we would seek to balance retaining a strong presence from the Programming Historian Editorial Board with new Trustees that have knowledge and experience in publishing, library and collection services, financial planning, and education.
The Trustees meet on a quarterly basis , with additional meetings called if needed.
None of the trustees have any beneficial interest in the charitable company. All of the trustees are members of the company and guarantee to contribute a sum not exceeding £10 in the event of a winding up.
Organisational structure and decision making
The Chair of ProgHist limited is Dr Adam Crymble. The Treasurer is Dr James Baker. The secretary at Trustees Meetings i s Anisa Hawes. We have one class of member , M ember (Editorial Board) , which is restricted to members of the Programming Historian Editorial Board . There is no cost of membership, it is non-transferable, and grants an invitation to our Annual General Meeting. Also invited to our Annual General Meeting (as an Advisory Member) are representatives from each member of our Institutional Partner Programme, the mechanism through which institutions (typically higher education institutions) financially support our work.
The day-to-day running of the charity is overseen by the trustees with the support of the secretary.
The trustees' r eport was approved by the Board of Trustees.
The trustees, who are also the directors of ProgHist Limited for the purpose of company law, are responsible for preparing the Trustees' Report 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 charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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.
I report to the trustees on my examination of the financial statements of ProgHist Limited (the charity) for the year ended 30 September 2021.
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
ProgHist Limited is a charitable company limited by guarantee incorporated in England and Wales. The registered office is West & Berry Limited, Mocatta House, Trafalgar Place, Brighton, BN1 4DU.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). 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 are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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.
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.
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 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.
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.
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.
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.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors 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, including creditors 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 p aymen ts 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 creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
Charitable Activities
Charitable Activities
Charitable Expenditure on activities
Charitable Expenditure on activities
Copy editing costs
Consultancy costs
Subscriptions
Insurance
Computer expenses
Other costs
Accountancy
Payroll costs
Accountancy other services
Governance costs includes payments to the accountants of £1,350 + VAT.
The average monthly number of employees during the year was:
Deferred income is included in the financial statements as follows:
There were no disclosable related party transactions during the year (2020 - none) .