Docuslgn Envélop6 ID". F64082FA-CA7E41D3-gE17-CC168CIY4E9D Reglsteyed number.. 05471322 Charlty number: 1118602 CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED (A Company Llmlted by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
DorJJslgn Envalopa ID." F64D82FA.CA7E.41D3_9E17_CC16BCI94E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guaranteè) CONTENTS Page Reference and Admlnlstratlve Detalls of the Comp8fiy* Its Trust8os and Advlsers Trusl•as' Report Independent Auditors, Rèport on the Flnancial Slalements statemènt of Flnanclal ActlvSlles 2-10 15 Balance Sheet 16 Statement ol Cash Flows 17 Notes to the Flnanclal Statements 18-28
Docuslon Envek>p8 ID.. F64D82FA-CA7E.4103.gE17.CC16Bcig4EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED {A Company Llmltèd by Guarantee) REFERENCE AND ADMINISTRATIVE DETLs OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2023 Tru8te85 Isabel Nancy Hilton Allred William Hill lappoinled 31 May 20231 Barbora Bukovska lona Craig Gillian Ellzabelh Philllps Marlin Tomkinson Andy Muellei-maguhn Iresioned 14 March 2024) Eyal Weiznian (resigned 14 March 20241 Joseph Anlhony Farrell (resigned 18 Apiil 20241 Stelania Spezzali (appointed 12 July 20241 Company reglstered number 05471322 Charlly registered umber 1118602 Registered ofllce Goldsmiths, University ol London Department ol Medla. Communlcalions and Cultural SttJdSes 8 Lewisham way London SE14 6NW Independent audltors Desaur LLP Chartered Certified Accountants CEME C8mpus Marsh way Rainham Essex RM13 8EU Pag8 1
Docuslgn Envelop8 ID.. F64D82FA-CA7E41D3-gE17-CC168C194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED {A Company Llmltèd by Guaranteal TRUSTEES. REPORT FOR THE YEAR ENDED 30 NOVEMBER 2023 The Truslees present their annual report together with the audi18d financial slalemenls of Ihe Company foT th8 year 1 December 2022 10 30 November 2023. The Annual Reporl seNes the purpclses ol bolh a Trusteés, report and a directors, report under company law. The Trustees confirm that the Annual Repori and financial stalemenls ol tho charitable MpanY comply wilh the current slatulory requiremenls, the qUIreMentS of Ihe charit8blé companys governing document and the provisions of the Stat8menl ol Recommended Practice ISORPI applicable lo cbaiilies prepaiing their accounts in accoidance with the Financial Reporting Siandatd applicable in the UK and RepubliG of Ireland IFRS102) leflecllve 1 Jsnuary 20191. Slnce Ihe Company qualifies as small under section 382 of the Companies Act 2006, the SlfÈtegic Report rgquired ol medium and large compani8s under the Companies Act 2006 Istrat8glc Report and Difector8' Reportl Regulalians 2013 has been omilled. Oblectlvas and actlvltles a. Pollcles and oblectlves The CIJ is an educational charity. a think-tank and experirrontsl laboratory. set up.. lo traln a new generation ol reporters In the tools of investlgative. in-depth. ond long-form journalism across all madia., lo support investigaliv8 journalism as the lileblood tsf a democTalic society., lo incubale promising new investigalivg projects and open out investigalive journ81ism into ferti16 new lercllory In setling obleclives and planning for aetivilies, the TNslee5 have given due consideration tr) general guidance published by the Charily Commlssion relallng io public benefit, includlng Ihe guidance'Public benefit.. running a charity IPB21'. b. Strategles for aGhievlng objectlves Achlevements and maln ro ects ro rammes and actlvit of FY23: 2023 saw the continuation ol CIJ'S in-person events Ènd conferènces while eontinulng lo develop ils onllne If8ining curricvlvm and programmes.. Tralnlng & Prol8Cts= we conlinued lo expand our portfolio of onllne training subjects delivered Iconvertlng our in-person Irainln9 lo an online plailortn slarled wlh the lirsi Covid lockdown In Mar¢h 20201, and scaled up international Iralnlng programmes launched as pilols durlno the pi8vious period wlh the support ol old 8nd new funders, increasing our audience and wdening our geographic reach in the proce55. Evènts & Confarences: we kept developing our annual *ICIJSummer InvesligalTrve Journalism Conferencè. hosting il In person again aller two conseculive years doing it online only, and hosted our annual regional conference in Glasgow. Bursarles and Fellowshlps.. we ¢onllnued Ir8ining new gen¢rallor¢s of journalists Ifom underpriviléged and underrepres6nted backgrounds through a range of fellowships and bursaries Iliat arg now successfully delivered in an hybrid format. mixing online training and mer)loring. and in-person events. These are the Lyra MoKee Training Bursary S¢heme and a Collaborative Communily Journalism fellowship. This yoar's substsnlial progress oan be grouped generally into Training & Inltlatlve5, Events & Conferences, Anclllary Actlvltles, and Infrastru¢tur6 & Organl$atlon. Pag8 2
DOcusn Envèlow ID.. F64D82FA.CA7E41D3-9EI7.eC16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlt•d by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 Oblactlves and actlvilies Icontlnuedl c. Actlvltles undertaken to achlave objeetlves 1.TTalnln and Snltlatlves CIJ Cou Ses sold to thè ubllc We continued to expand our onlin8 seheduled Iralnlng, addln9 new courses to our eslablish8d offer of invesligallve methodology, data journalism, web scraping, and basie open-souree Inlellig8nce IOSINTI, 81101 which ran mullipl8 limes wilh full classes during 2023. The new curricula we identified for Ihls work were.. financial investigations. podcasling skills and advanced OSINT training. The lirst of these courses - Financi81 Inve51igalions launched at the end 012022 and has run 3 times sinc8. The course comprises 3 onling modules, covering company accounts, financlal OSINT. and case sludles ol financlal Inv8sligatlons. Through our scheduled Iraining we were able to reach 426 people through 36 Courses In 2023. Going into 2024 we plan lo develop several new scheduled courses as well as continuè designing bespoke Iraininu lor organisations across the world. anlsations Bès oke Tralnln Sold to or We worked with 10 bespoke clients to deliver tailored Iralning to 227 people. Specifically designed to address skills g8ps and slalf developmenl needs, these courses have pushed lorward Snvesiigalive capacity and Ènhanced stories and repc>rls across several areas. both lopieal and geographic. The skills these programmgs have covered are as divèrse as the clSents, bul this year w8've built bespoke courses on: Investigativè Melhodologiès All asp8cis of Data Journalism FinaTICi81 Invesligalions Open-source Inlelligence Environmgnlal ancl Supply Chain R8search Fréedom of Informalion - Web seraping Digital Securily ernatlon81 Investi allve Practicè ro rammè In Latln erlca Wilh funding Irom the Reva and David Louan Foundatlon and 81ong wilh our partners Fundacion Gabo and CLIP. we have consolidated a progranime for Inveslig81ive PraclicÈ In Latin AmerSca that has been renamed 'Taller Logan de Pigcticas Invgsligalivas, Ilormerly 'The Logan Workshop on Invesligalivg PraCtiS.}. Under thls new name we embarked on 8n 18.month programme ol Iraining in Investlgative and a550ciated skills for journalists and researchers across 811 ol Lalin America, Including Brazil. We comploled Year 101 Ihis Iwo-year programme wilh almost one thovsand people re8¢hed. Thi5 includes Iwo online workshops and Iwo open le¢ltJres belweon December 2022 and M8y 2023. Our first two workshop rounds were allended by a total of 32 parti¢ipanls from 14 counlries. while th8 open lectures have been viewed by more than 952 people from across th8 Tegion. from Mexlco to Argèntlna. Source Pyotectlon Pro ramme Funded by the Reva and Davld Logan Foundatlon. The Source Proteclion Programmo Is an advanced digilal securily training couise for investlgalors ol all slripss. We focus on skills and methods that help reporiers Page 3
Docuslgn Envelo ID.. F64D82FA.CA7E41D3.9E17_CC16BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Gu8ran¢eel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Objectives and aetlvlties leonlinu4dl prolecl both themselves and their sourees. 2023 was a big year for thè programme, a$ we sought to fully eslabli5h our work and start lo oller bespoke programmes to meet Ihe dillerent needs ol reporters and organisallons. We Irained mor8 Ihan 550 Sourn81ists from over 40 countries in a variety ol dillerenl sellings. including onlin9 charitable and commercial programmes and in-person workshops al conlerenc8s around Ihe world. The end of 2023 marks Ihe close of Ihe first two years ol runnin9 the programme. The Reva and Davld Logan Foundalion r8n6wed Iheir suppori lor anolher two years12024-20251. en Cllmat9 R• Inltlativè Tho CIJ'S newest inllialive- Ihe Open Climatè Reporting Initiative IOCRI}- began In Junè 2021 with a scoplng ph85e and continued in lull force in 2022 with its first delivery phase. 11 Is funded by auad¥alur8 Cllmate Foundatlon. The objective ol OCRI is lo raise the standard ol environmental investigations. enabling Ihorou9hly searched public inleresl reportin9 and evidence-based advocacy. Thls is in response to challenges in using invesli9ativè research to address climate change impacts. 2023 was a ro51ercoast6r year lor OCRI 8t th8 CIJ. We bulll on 8 successful Year One (April 2022 - March 202318nd moved into 3 new regions for Year Two Ihal runs until March 2024. Our big bel on th8 implemenlalion slfalegy for the regions. Brazil and Lusophone Africa, South Asia and ihe Middle East and North Africa IMENAI. is proving lo be a valid one, wth mor& Ihan 300 people directly Iralned from 16 countries. and over 1000 r8ached indirectly. By the 8nd of Year Two. OCRI réached journalists, researchers, 8cademi¢s. aclivists. environmentalists. stale and civil society aclors in 53 counlries. Thal Is a big deal and we are proud of how far we hav8 come. The rnulli-layered Impact of OCRI is what makes St a unique inlervenlion. One advantage ol this is seeing Ihe improvem8nis due to the training and skill-sharing nearly inslanlly, with Investigative projects numbering more than 80 so lar. These prolecls have been able lo go deeper into the subjecls covered and achieved wder impacl by incorporating innovations such as data analysis, op8n-sourcg intelligence and satellile irnaoery into their melhodologSes. ate Chan e In News Me This parlnership wlh UNESCO in 2023 wenl beyond regular news coverage and slrenglhened the capacily of the media to hold powerful actors to accounl, use digital methodologies for news gathering and produclion. and pracbse solutions journalism lo comb8t climate chang8. Wilh UNESCO we worked from Decembèr 2022 until July 2023 by collaborating with Adisi-cameroon lor Francophone Africa and the C&nlre lor Journalism, Innovation and Development ICJID} loi Anglophone Africa. Through th8 project, we directly Irained 40 journalisls from 14 media organisallons in 4 counlries. namely Cameroon. Gabon. Ghana and Nigeria between March and May. The posl-lraining support lo the newsrooms welded an unprecedented impacl. Over 80 more journalisls were trained in their organi5alions. whi18 at least 6 01 the newsrooms sel up a clitnale change reporllng d&sk by participaling in the projecl. This has led lo the publicationlbroadc8sI ol over 1QO stories. tswshl ortin Burs Scheme and Local Communli Journallsm Fel and Mentorln CIJ L ra McKee Investl The CIJ Lyra McKee Investigative Jouinalism Trainin9 Bursary Scheme was established in memory ol a young and courageous Irish investigative journ8llst LyrA McKee. who was shot dèad by dissident republicans in Derry in April 2019. The CIJ Lyra M¢Kee Buisary stheme is funded by the LoTana Sullivan UK Foundation and tho Lyra McKee Foundation. The aim ol our live-month Lyra McKee bursary scheme is lo train and mentor people frorn underprivileged backgrounds. who 8spire lo beeomg joumalists or who are at the very early slages of their journalism career. In 2023. ten people from all over the UK took part. They atnded Iraining courses and the CIJSummer Ive Journallsm Bursa Scheme Page 4
0$59Th Envebp6 ID.. F64D82FA_CA7E.41D3.9E17.CCI68¢194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llinlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 Ob5e¢tlves and activili•s Iconllnuedl Invesligalive Journalism Conference. th8y also allended online mentoring sessions wllh Jenn8 Corderoy {openDemocracyl and Emma Youle Iformerfy ol HullPoslUKI. Al the end ol Ihe programme they pitched their invesligallve stori8S to working editors. While participating in th8 CIJ Lyra McKee scheme, and assisled by the menlors, many applied for worklfurther study and are now doing paid shills at Thè Belfast Telegraph and The Scollish Sun,. another trainee has secured the position ol an Apprentice Reporter lor The Northern Echo., one trainee received a bursary to attend IRE AccessFes123 IUS data journalism training).. another is pursuing the NCTJ Level 5 Diploma land slfU9gling with shorthandll.. and one traince received funding from the Journalism Diversity Fund lo sludy al City Unlversily. Coll&boratlve Co unlt Journallsm Pro ect December 2022 saw the conclusion of thSs Iwo-year programrne. We wrapped Ltp our work supporting co1mnity10ufna1lsM oull8ts across London. Supported by the Trust foT London, wg've been delighted to work with four oullels during Ihe final year ol the programrne. helping Ihem dig into Ihe issues thal matter lo communllles in lour boroughs-. Newham- Newham Voices Lambeth- Brixton Bugle Barnel- Barnet Post Tower Hamlets- Soci81 Streets Tha prolecl has locSed on losterino collaborative work belween young. up-and-comSng journalists our Investigalive Fellows- (rom each area with eslablished Community journalism organisations there. We've bean able lo provide a full rg#ge ol training opporiunities for the Investigative Fellows, taking in the Slory.8asèd Inquiry inv&sligalive methodology, Data Journalism skills, Freedom ol Inlormalion use and Open-source Inlelligence. The Trust lor London's support ftsr Ihe project has also allowed us lo provide financial backing lo research projects Ihal conslilul8d the second phase of the project. Time has been covgred lor both the Fèllows and an editor from each oullel while they work on researching a topic of imporiance lo their readership. Page 5
Do¢JJslgn Envalopts10.' F64DB2FA_CA7E4103.9E17_CC16BC194EgD ¢ENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarant8&} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 OblectlV85 and acllvltios {continiièdl d, Events and conferences Jsummer Invèstl atlve Journallsm Conferenc8 2023 Our annual flagship tralning évent the CIJSummer Investigalive JouTnBlism Conference took plAce al Goldsmiths, University of London on 28-29 June 2023. 11 Is the UK'S only conference wlh a focijs on invesligative skills. Ov&r 170 people 811ended and this year we had 53 speakers. We were deli9hted lo welcome our Open Clirnale Reportin9 Initialive partners and trainees as both delegates and speakers al the conference. This year's keynote speakers were Olga Rudenko, edilor ol the Kyv Independenl., 'Fi5ayo Soyombo, Nigerian inv8Stl9ative journalist. specialising In undercover Investlg8tions-. legendary Spanisl) inv88bg8live journalist José Maria Irujo- and courageous Norihern Iiish invesligalive journalist Patricia Oevlin. CIJSummer Conf6rence's costs are cov8red by tickets sales and The Lorana Sullivan UK Foundatlon covers the shortfall. Re lonal Investl atl e Journalism Conferencè 2023 In Gl ow Thanks also to generous funding Iiom Ihe Loiana Sullivan Foundalion, we held our fourth regional conf6rence In Glasgow on 21 October 2023. Held in partnership with the National Llbrary of Scotland at Glasgows prestigious Kelvin Hall, places filled quiekly. Unfortunately siorm Babet diswpted Ihe travel of tllany. bul we had around 50 dtslegales who wére treated to a day ol talks and hands-on workshops. The day was rounded olf with networkSng drinks. Anellllary activitias Handbooks sales £3,504 revénue was g8n4Yated In FY23 - 349 books sold. en Memorlal Llbra The Gavln MacFad Since our founder Gavin MacFady¢n's death, we've buS11 a Gavin MacFadyen Memorial Library. which offers an 8nlirely original resourcg ol materials on Investigative lournalistn, social and polilical theory, and anli-fasast campalgning work. The physical curalion ol our catalogue had lo be put on hold. and the collection put in storage until such time we could find il an adequate space and resume Ihat work. f. Infrastructure and organlsatlon The CIJ team is made 015 full-time employees. 2 part-time employees. 1 full-lime freelancer and a network ol Iralners and freelance programmo ¢o.ordinators. The CIJ'S Board of Trustees. chaired by Isabel Hillon. counted 9 membgrs In 2023 and on6 Board °obseNe Ifom our hosts al Goldsmiths, University ol London. On 31 May 2023. All Hill joined the ranks of our e long-standing trustees as TreaSUrerrstee. Alf brings significant f1nancial experignGe to Ihe role, having worked as an accounlanl in the public and private sectors, and is a welcome addllion lo the board. Page 6
Docuslgn Envèlop8 ID.. F64D82FA-CA7E4103.9E17.CC16BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 Aehlevements and performancè Flnanclal review a. GoSng concern After making appropriate enqulries, Ihe Trustees hav8 8 rèasonable expectation Ihal th8 C(bmp8ny h8S adequate resources lo continue in operational existence lor th8 foreseeable future. For this reason, they continue to adopl the going ¢oncern basis In preparing the financial stat8m8nls. Further details fegarding the adoption of the going concern basis can b8 found irh the accounting policies. b. Flnancial Rèvièw Result for tha year.. Total income for th8 year was £1,394,726 {FY 2022.. £958,114) of whi¢h £1.193.12g was from donated grants IFY 2022.. £784.1661, wrylhout which Ihe CIJ would have been unable lo generate the eurrenl range and volume ol iiaining aiid educational acliwty. The Charills principal sources of unrestrictèd fLsndlng fo¥ the year consisted of an uniestricted grant from the Reva & David Logan Foundalion. as well as a re51ricl8d-granl tranche coveiing support costs associatéd wlh Irainlng programmes funded by Quadrature Climate Foundation {Open Climate Reporting Inilialivel. Addilion81 unreslricled income was gtsnèraled from CIJ'S producls & services.. Income from CIJ'S $¢heduled & bespoke training provision1£118.599 In FY23 vs £130,149 in FY221 Incom& from CIJSummer investigative journalism conleren¢e1£43.727 in FY23 vs £40.452 irs FY221 - In¢om8 from CIJ handbooks1£3.504 in FY23 vs £3,346 in FY221 Despite the sleady increase in scheduled Iraining revenu8 sold to the public (thanks lo Ihe crfjalion of new courses added lo CIJ'S IraiDing curriculum). Ihe overall incorne from Clj's products & seNces decreased IrDm the pr8vious year Ilrom £173,948 to £170.2071 due to a decre889in bèspoke Iralnlng demand from organisalions. A very small proportion ol incoma came from individual donations. The Charills sources ol ¥estri¢led funding for Ihe year were the Reva and David Logan Foundation. Quadrature Climate Foundation IQCF). UNESCO, Ihe Lorana Sullivan UK Foundation and Trust lor London. Total expenditure for thts ar was £1.051,889 Ivs FY22- £921.3341. The increase in expenditure was mainly du8 to the delivery phase ol our QCF-lunded Open Climate Reporting Inilialive. The Ch8ril¥s unrestricled surplus balance at thè end of FY23 is made of.. £213.585 of Ire8 unrestricted surplus - £30.779 01 Source Prot8ction Programme's Commercigl fund balance £9.038 of Lyra McKee Investigative Journalism Training Bursary fund balance £150,000 of a CORE Qperational Conllngency lund If1nancial reserv981 Page 7
Docu8lgn EnValol0.. F640B2FA.CA7E.41D3-SE17.CC18BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 c. Funding for FY23 The R•va anil David Logan Foundation renewed their long-st8ndlno unrestrieted financi81 support with another three years at the rale of $100,000 pèr year starting In FY23. In addition, lor FY23, we received from the Foundalion a restric18d granl of S125,000 to run Year 2 lout of 21 of our Source Prot8elSon Programme and a r8Stricled granl of $32,160 to run Y88r 1 lout of 21 ol our Inlernalional Investigative Praclice programm8 in Latin America. Decembèr 2022 was the last month of a two-year restrioted grant or £60,000 from Trust for London to fund our new Coll8bor81Sve Communlly Journalism Inllialiv8 over iwo years {calendar years 2021 and 20221. T118 Lorana Sulllvan UK Foundatlon conllnued it8 annual comrnitment to support our annual Lyra McKee Inveslig8tive Journalism Trailling Bursary sch8me1£13,000 in 20231. Tha programtne is a 5-monlh training and mentoririg programme delivered onllne with In.person particlpalion 81 our annual summer investlgative journalism conference in London. In April 2023. we T8celved tho thlrd tranche ol our £1.3M mtjlli-year Open Clim818 Reporting InilialSve IOCRII orant from Quadraturè Cllmate Foundation lo cover thè last 12 months ol the project endin9 April 2024. £808,805 of QCF funding were used to covei OCRI project direct costs and £80.200 to cover our support costs over the period ol our f1nancial year 2023. covering Ihe end of our Open Climale Initiative'5 second dalivery phase (May 2022-April 2023) and the start of Ils third and last delivery phase (May 2023-April 20241. J fundln funds.. conslsls of Ihe followin Reslrieted fund Funds wher8 use is limited to a spe¢ifi¢ purpose. These purposes are delemlned in proposals to donors. Reslficled income h8S to be spent on the speciltc project or programm6 for which il was raised. Any such money lell unspent al Ihe end ol the project is returned lo the donor. unless agreed otherwise. Oesi nated funds.. Reserves sel aside from unrestricted lunds lor potential or known fulure cosls. This is decided by Truslees based on advlce from management. restricted funds.. Reserves availablè lor any a¢livily within CIJ to support its char*labl& oblecllves. The need lor Ir88 financial reserves.. In addltion lo Ihé financial reseNes placèd in a designated fund. the Truslees bellevp the leve10l free financial reserves will 8nable the charily to continue to grow, pres6Ne working ¢apilal and cover short-leim risks and uncertaintie5 and other eonlraclual obligations. Al the close ol FY23, the CIJ trustees approved lh8 increase of our flnancial reseNes fund from £100,0(X) Io £150,000. This sum taken from our nel unrestricted surplus is the eslimaled equivalent ol six months ol operating costs and is the taiget set by the CIJ'S Reserves Pollcy. This CORE Operatlonal Contlngency fund. As lor our olher exisling d¢sSgnaled fvnds. we spe( the remaining balanc8 ol tsur Gavin MacFadyen M•morlal Llbrary fund Itfj,6421 on slorage costs. withdrew £1.000 from our Lyra McKee Investigalive Journalism Training Bursary fund lo supplement Ihe Lorana Sullivan's grant in covering the costs ol our Lyra M¢Kee InvesligalSve Journallsm Training programme of 2023. Flnally, we crealed 8 nèw designaled fund.. 'Source ProleGllon Programme's Commercial Fund" and put i £30.779 into the lund. Thls lund is fueled by prolils made from any bospoke Sourcè Protection Programme training to organisalions and ils aim is lo help covei lulure costs ol our charitable Source Pfoteclion, which is currèntly enlirelyfunded by the Reva and David Log8A Foundalion. Balances ol our designated funds as of 0111212023: Page 8
Oo¢v$lgn Envelop6 ID.. F64D82FA.CA7E.41D3.9E17.CC16BCI94E90 CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantèè) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 G8vin MacFadyen Memorial Library fund.. £NS1 Lyra McKee Investigalive Journ8llsm Training Bursary fund.. £9.038 - Sour¢8 Protection Programmg's Commercial fund.. £30,779 Core operations contingency {financial reserves).. £150.000 Total balancè- £189.817 d. Investment Powers As 0130 November 2023, CIJ has no Inveslmenl assets and lis cash funds are held In B CAF B8nk eurrenl account as wall as in a 40-day notice savings acwunt and a 200-day notic8 savings account held in United Trust Bank. Structum, governance and management a. Constllutlon Th8 Cenlie for Invesllgalive Journalism Limited {ClJ) is a company limited by guarantee. 11 was Incorporated on 3rd J(Jn8 2005 and registered as a charily on 29 March 2007. Th8 serving trustees agree to contributo an atnount not exceeding £10 in the evenl of the company being dissolved while he or sh8 is a member, or wlhin twelve months after he or sh8 eeases lo be a membér. b. Management and Control Th8 Board ol Trustees Is responsible for the overall management and control ol the Charity. Operationally. day to day responsibilily for running th6 CIJ lies wlh the Charily Direclor James Harkin supported by slalf. c. Flnanelal rlsk manAgement The Trustees acliv81y and regularly review lh8 maln risks whlch Ihe CIJ faces. B8ing able lo leach the target sel by CIJ'S Financial Reserves Policy of six months, worth ol operating cosis addresses Ihe principal rlsk identified by Ihe Trust88s al the end of FY17. The CIJ maintains a Rlsk Register. Main risks are reviewed regularly al Board Meetings. Page 9
t>ocu*gn Envelope ID.. F64D62FA.CA7E-41D>gE17-CC16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Limiled by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 NOVEMBER 2023 Statèment of Trustees. rèsponslbllities The Trustees (who ale also the directors ol the Company lor the purpos85 01 company lawl arè responslble for prep8rlng the Tiustees, Report and the financial statements in accordance will) applicable law and United Kingdom Accountlng Standards Iuniled Kingdorn Generally A0pIed Accounting Praclic61. Company law feouires th8 Trustees to prepare financial statemenls lor each financial year. Under company law, the Trustees musl not approve the f1nancial slatemenls unless Iliey are satisfied that they give a true and fair ew ol the slate ol allairs ol the Company and of its incorning resources and applicaliorn ol resources, includin9 ils Income and expendilure, lor that period. In preparlng these financial statemenls. Ihe Trustees a18 required to: select sullable accoiinting pollcies and then apply Ihem consislenlly., observe Ihe nielhods and principles ol the Charlties SORP IFRS 1021., make judgments and accounliiig eslimales Ilial are reasonable and prudent., state whelher applicable Ul< Accounling Standards IFRS 1021 have been lollowèd. subject to any material deparlures disclosed and explained in Ihe linaricial slalenieiils., prepare 11)e financial slalemenls on the going concern basis unless il is inappTopriat8 to presume Ihal th6 Company will continue in business. The Truslees are responsible for keeping adequate accounting records that ale sullicienl lo show and explain Ihe Cornpanls Iiansaclions and disclose with reasonabl8 accuracy al any lin)e 11)e financial posilion ol Ihe Company and enablè them lo ensure that the financial slal&menls con)ply with the Companies Act 2006. Thtry ar8 also responsible lor safeguaiding Ihe assels ol tho Company and hence foi taking reasonable steps for the prevention and deleclion ol fraud and olher irregularilies. Disclosure of information to auditors Each of Ihe persons who gre Trus18es al the lime when Ihis Tru51ees' Repoil is approved has confirmed Ihal.. so far as that Trustee is aware. therè is no relevant audit inlorniation of whlch the charills audllors are unaware, and thal Tiuslee has taken all the steps thal oughl lo hav8 been taken as a Truslee in order lo b6 aware ol any relevant audit information and lo establish Ihal the charills auditors a18 aware ol that inlornialion. Auditors The audilois, Desaui LLP, have indicated their wlllingness to continiie in olfi¢è. The dgslgnated Trustees wll propose a Inolion reappointing the auditors al a nieeling ol the Trustees. Approved by order ol Ihe mambers ol the boa¥d ol Trustees and slgned on their behalf by: SbJncdby'. Isabel Nancy Hilton (Chair ol Truslee51 Dale.. 2 August 2024 Page 10
Docuslgn Envèlapa ID., F64D82FA.CA7E4103-gE17.CC168C194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED Oplnlon We have audited the financial statements ol Cenlre for Investlgative Journalism Llmiled (Ihe 'charitablè company) lor the y88r ended 30 November 2023 whlch comprise the Statement of Financial Activities. thg Balance Sheet, the Slalemeni ol Cash Flows and the related notes, including a summary ol signllicanl aaUntIng policles. The financial rgporting framework that has been Èpplied in thelr preparation is applicable law and United Kingdom Accounting Standards, including Financial R8POrting Standard 102 'The Financ4al Reporling Standard applicab16 In the UK and Republic ol Irèland. (United Kingdom Generally Accepted Accounling Praclicel. In our opinion the fin8nelal slat8m8nts'. give a true ar fgir view of the state of the charitable companls allairs as al 30 November 2023 and ol ils ineoming resources and application ol resources, Including Ils irwme and expenditure for the year then Énded., have been property prepared in accordance wlh United Kingdom Generally Accepted Accounting Praclice.. and have been prepared in accordance wth the requirements ol the Charities Act 2011. Basls for oplnlon We conductéd our audit in accordance wilh IrTrternational Slandards on Audiling IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for th8 audit of the linancial slatemenls séction of our report. We are independenl of the charitable company in accordance wlh the 81hlcal requirements Ih81 are relevant lo our audil ol th8 financi81 sialements In the United Kingdom. inGluding the Financi81 Reportlng Council'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh ese requirÉments. We believe that the audit èvidence we have oblÈined Is sufficienl and appiopriale to provide a basis for our opinion. Concluslons relating to gotng concern In auditing the financial slaléments, we have wncluded thal Ihe Trustèes, use of the going concern basis of accounting in Ihe preparalion of the lin8ncial statements is appropriate. Based on the work we have performed, we have not identifsed any malerlal uncertaintles relating to events or conditions that, individually or colleclively. may cast slgnificant doubt on the charitable companls abilily lo conllnue as a going concern lor a period of al least twelve months from when ihe financial slalernents are aulhorlsed lor issue. Our responsibllities and the responsibilities of the Trust8es with respect lo golng conceTn are described In the relevant sections ol Ihis report. Page11
DsIgn Envélop6 ID.. F64D82FA.CA7E41DJ_9E17.CC168C194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantoel INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED ICONTINUEDI othèr Informatlon The other information comprises th8 Informatlon included in the Annual Report olher th8n the financial sta18menls and our Auditors. R8PDrt Ihereon. Th9 Trusle8s are responslble for the olher Information contalned wilhin the Annual Report. Our opinlon on the financlal statements does noi Cover the olher inloimation and, èxcept to the gxlent olhetwise explicilly slated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is lo read the othar informalion 2nd. in doing so. consider wh81her the olher Inforrnation is rnalerially inconsislenl with Ihe financial stat8menls or our knowledge obtained in Ihè Course of the audit, or olheTwise appears lo be malerially misstated. 11 we idenlily such rn8lerial in¢onsislellcies or 8ppar8nt malerial misst8temenls, we are required lo determine whelhor Ihls gives rise to a m8lerlal misstatement in the Ilnancial statements thernselves. 11. based on the work we have performed, wa conclud8 Ihal there Is a material misstatement of Ihls othgl Information. we are required lo report Ihal fact. We have nolhlng to report in Ihls regard. Matters on whlch we are requlred to report by exceptlon We have nothlng to report in respect of the following rnallers where the ChaTltles {Accounts and Reports) Regulatlons 2008 requires us to report to you 51, in our opinion.. the infoTrnatSon givèn in the Trusie8$' Report is inconslstenl in any material respect with ihe financial stalements., or SlI1CleI Éccounting records have not been kept.. or the financlal slalemenls are not in 8greemenl wllh thè 8ccouriting records and r8turns- or we havg not received all the information and èxplanalions w8 raquire for our audil. Responslbllilles of trusta6s As explained more fully in Ihe Truglees. Responsibilities Slalement, lh8 Truste65 (who are also the directors ol Ihe charitable company for the purposes of company lawl are responsible lor the preparallon of the financSal slalements and lor being satisfied that they 9ivè a true and lair view. and IOT such int8rnal control as the Trustees determine necessary to enable the PTeparalion ol finanual statements that are freè frorn malerial misst8lèmenl, whelher due lo l¥aud or error. In préparing Ihè financial statements, the Trustees are rèsponslble for assessin9 the charitable ¢ompen¥s 8bility lo continu8 as a going concern. disclosing, as applicable, Mallers related lo going concern and using the going concern basls of accounting unless Ihe Trustees eilher Intend lo liquidate the Charitable company or to csase OP8Tallons, or have no realiSC aliernalive bul lo do so. Page 12
DoGu$ion Envek)pJ ID.. F64D82FA.CA7E.41D3.9E17.CC16BC194ESD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED ICONTINUEDI Auditors, responsibllltles for the audlt of th• flnanclal stataments W8 have been appolnted as 8udltor under secllon 144 of Ihe Charit18s Act 2011 and report in aceordance wth Ihe Act and relevant regulations made or having affect th8reunder. Our objectives are lo obtain reasonable assurance about whèiher Ihe financlal statemènls as a whole are free from material misslalernent. whelher due lo ffaud or error, and to issue an Audilors, Report that includes our oplnion. Reasonable assuiance is a hi9h level ol assurance, bul is not a guarantee that an audlt conducted In accordance wih ISAS IUKI will always delect a material misslalemenl when it exists. Misstalem6nts can arise from fraud or error and are considered malerial 11. individuslly or in the aggregate, they cauld rèasonabSy be expected lo influence the economic decisions of users taken on the basis ol these financial slalements. Irregularilies. including fraud. are instances of non-compliance wth lllws and règulations. We design procedures in line with our responsibilitles. ouilined above, to detecl malerial misslal¢menls in respect of irregularities, incldIng fraud. The exlenl to uthich our procedures are ¢apab16 01 d818Cting Irregularitiès, including fraud is detailed below.. Based on our understanding of the company and industry. we id•nllfied the PTincipal risks of non-compliance with laws and regulations. We also considered Ihos818ws and regulations that have both a direct and non-direcl impact on Ihe linanciAI slatem8nts. Audll proc8dures performod Induded: Enquiring wth management includlng considèration of known OT SUSPaCted inslances of non- compliance wth laws and regulation and fraud. Id8nlilying and lesting journal enlri88, In pariicular anylournal 8nlries posted with unusual account combinations. Because of the inherent lirnilalions of an audit. there is 8 risk Ihal we will not delect all irregularllies, includlng Ihose leadlng to a malerial misstatement in the financial slalemenls or non-compliance wlih regulation. This iisk increases the more Ihal compliance with a law or regulation 15 removed from the evenls and Iransaclions reflected in the flnancial Statements, as we 111 be less likely lo become awarè of instances ol non-complianTr. Th8 risk is also greater regarding irregularities occuriing due to fraud raih9r than erfor. xs fraud involves Intentional concealment, forgery. collusion, omission or misrepresenlatlon. A further descripllon ol our fesponsibililieg for the audit of the linanclal slatemÈnts is located on Ihe Finandal Reporting Coiinoil's websile al.. w%ww.frc.or .uklaudilorsres onsibililies. This deserlpllon forms part of our Auditors. Report. Use of our report This Teport is mad¢ solely to the charitable companls trustees, 88 a body, In accordance wlth Part 4 01 the Charilias (Accounls and Reports) Regulalion5 2008. Our audll work has been undertaken so that we mighl st8te to the charitable cornpanvs trustees those rH8tt8rs we are required to state to Ihem in an Auditors, Report and lor no olher purpose. To the fullesl extent permilled by law, we do not accepl or assume responsibility lo anyone olher than th8 chafilable company and its members. as 8 body, lor our audil work. for Ihis report. or for thè opinions we have formed. Page 13
Docuslgn Envelopg ID.. F64082FA.CA7E41t)3.9E17.CC168C194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED {A Company Llmlted by Guaranleel INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED {CONTINUEDI Dèsaur LLP Chartered Certllled Accounlanls Stalulory Auditor CEME Campus Marsh way Rainham Essex RM138EU 2 Auuug12024 Desaur LLP are eligible to act as audilt)rs in 18rffls of sectn 1212 of the Companies Act 2006. Page 14
D(s]gn Envélope ID.. F64082FA.CA7E.4103_gE17.CC16BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Gu8ranteel STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 NOVEM8ER2023 Restrlc18d Unrestricted funds funds 2023 2023 Total funds 2023 Tolal 2022 Note Incomè from: Oonations and legacies Olhei aclivities Other income 1.031,973 10,000 161,156 160.207 31,389 1,193,129 170,207 31,389 784. 166 173,948 Total Income 1.041,973 352,752 1,394,725 958.114 Expendlture on.. Charilable a¢liwliès'. CIJ Summer & CIJ Regional conferences Products & SeFvices.' Schedul8d & Bespoké Training Product & Service8-. Handbooks & Mlsc Open Climate Reporiing Inllialive Climatè Change in N6ws and Media Inv8Stigatlve Practices Sourcè Prote¢lion Piogram Collaborative Communily Journalism Project & Lyra Mckee Bursary Schem8 Management. Fundraising and Operalions cosls 10,000 11.539 21,539 49,025 25,279 25,279 95.799 1.705 1.705 748.903 69,772 25,037 98,355 2,392 524,279 748,903 69,772 25,037 98,355 5,202 92.587 1,302 1,302 41,513 59,997 59.997 170,540 Total expandllure 953.369 98.520 1.051,889 921.337 N&t movement In funds 88,604 254,232 342,836 36,777 Reconciliatlon of funds- Total funds brought f0mard Nel movemenl in funds 186,982 88,604 149,170 254.232 336,152 342,836 299.375 36.777 Total funds carrlod foard 275,586 403,402 678,988 336,152 The Stalement ol Financial Acliwties includès all gain8 and losses recognised in the yèar. The notes on pagès 18 to 28 fomi part of Ihgse financlal slatèmenls. P8ge 15
DKu5van Enveknpe ID." F64D62FA-CA7E-41D>9E17-CC16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA conipany Limlted by Guaraijteel REGISTERED NUMBER: 05471322 BALANCE SHEET AS AT 30 NOVEMBER 2023 2023 2022 Note Curienl assets Debtors Cash al bank and in haiid 88,076 664,975 32,135 553,720 753,051 585.855 Creditors.. arnovnts falling due within one yeai 10 174.0631 (249,703) Nel current assels 678,988 336. 152 Total a55èts less currènt liabilities 678,988 336, 152 Net assets excluding pènsion asset 678.988 336. 152 Total net assets 678,988 336, 152 Charity funds Rèstricted funds Unrestricted funds 275,586 403,402 186.982 149, 170 Total funds 678,988 336, 152 The enlily was enlillèd to exemption (rom audit under seclion 477 01 thg Companies Act 2006. The members have nol reqLiired the enlity to oblaln an audil lor the year in queslion in ao¢ordance wilh saclion 476 01 Ihe Companies Acl 2006. However, an audlt is required In accordanoe wllh seolion 144 01 the Charllies Act 2011. The Trustees acknowledge Ihelr responsibilities for complyng with Ihe rèquirements ol the Acl with respect to acoounlino records and preparation ol financial slatamenls. The financial 51alements have been prepared in aowrdance wilh thè provisions applicable lo enlllies subjèel to Ihe small companies regiine. The linanual slalemei)Is were 8pproved and aulliorised for Issue by the Trvslees on 02 August 2024 and signed o bshall by.. Isrtl,LL thllb isabel Nancy iam The nolès on pages 18 to 28 form part of Ihesg financial sta18menls. Page 16
Docusl9n Ellvelop6 ID.. F64D82FA.CA7E.41D3-gE17.CC16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2023 2023 2022 Cash flows from op8ratlng actlvltlès N$1 cash used in operating a¢liv*ties 111,255 136.259 Cash flows from Investlng actlvltles Nèt cash providèd by investing a¢llvities Cash flows from flnancing actlvlties Net cash provlded by finanelng acllvltles Change In cash and cash equlvalents In the ytrar Cash and cash èquivalents al Ihè beginning ol the year 111,255 136,259 553,720 417.461 Cash and cash equlvalents at thè end of thè yaar 6fj4,975 553,720 The notes on paoes 18 10 28 form parl ol these financial statements Page 17
OoGusign Envoltspa ID. F64DB2FA¢A7E.41D3.9E174C16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmltèd by Guarant8è1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 General Informatlon Cenlrè for Invesligallve Journalism Limlted is a privatè company limiled by guarantee incorporated In Ellgland and Wales. The regislered aifice is Goldsmilhs, Unlversily Of London 8 Lewsham Way, Depi 01 Media. Communications And Cultural Studies. London, Engl8nd. SE14 6NW The members of the company are the Trustees named on page 1. In the event of the Company b8ing wound up, Ihe liabilily in respect ol the guaran18e is limited to £10 p8r tnember of the company. Accountlng pollcle$ 2.1 Basis of praparation of financlal statemants The financial statements hav8 been prepared in accordance with the Charilies SORP IFRS 102) - Accounting and R8POrting by Charili8s.. Stalement of R6commended Practice applic8ble to charilies preparing their accounts in accordanco wth the FinanciAI Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021 lelfeotive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republi¢ ol Ireland {FRS 1021 and the Companies Act 2006. Centre for Investigativ8 Journalism Limited meets Ihe definition of a public benelil entity under FRS 102. Assets and liabilitigs are InStially r8cognSsed at historical cost or Iransacllon value unless otherwise slated in the relevant accounling policy. 2.2 Incom8 All Sncome is r6cognised once the Company has enlillemenl to the Income. il is probable Ihal Ihe income wll be receSved and the amount ol inc<)me recelvable can b8 measured reliably. Grants arè Included in the Statement ol Financial Aclivi118s on a receivable basis. The balance of Income received for specific purposes but nol expended during the period is shown in the relevant funds on the Balance Sheel. Where income is received in advÈnce ol enli118ménl ol receipt, its recognition is doferred and included In creditors as deferred income. Where enlillemenl occurs b8fore income is received. the income 15 accrued. 2.3 Expendllur8 Expendlture is re¢ognised onc& th8re Is a leoal or constructive obllgation to Iransler economic benefit ttr 8 Ihird pariy. it is probab18 that a Iransfei ol economic benefits will b8 required in selllement and the amount ol Ihe obligalion can be measured reliably. Expendllure is classllied by activity. The costs ol each aclivity are made up ol the lol81 ol direct Costs and shared costs, Including support cosls involved in undertakirig each aclivily. Direcl costs altribulable to a single acltvily are allocated dlrectly to that activity. Shared costs which conlribule to rnore than orne activity and support cosls which are nol allribulable lo a single aclivily ale apportioned b¢tween Ihose aclivities on a basis Consistent with the use ol resources. Cenlral staff cosls are alloc8led on the basis of lime spent, and deprecialion Charges allocated on the portion of tha assel's use. Expenditur• on charitable actiwtias is incurred on dlreclly undÈrt8klng ihe aclivibes which furlher the Companls oble¢tives, as well as any associated support costs. All expendiiure is inclusive of irrecover8ble VAT. Page 18
DDcuslgn Envalope10. F64D62FA.CA7E41D3.9E17.CC16DC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Compttny Llmlted by Guaranteè} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Accounting poli¢185 {contlnuedl 2.4 D8btors Trade and otheT debtors are recognlsed al the selllement 8mounl alteT any trade di$count olfered. Prepayments are valued at the amount prepaid net ol any trade dlscounls due. 2.5 Cash at bank and In hand Cash at bank and in hand includes cash 8nd short.t8rm highly liquid Inveslmenls wilh a short maturily ol three months or less from Ihe dal& ol acquisition or opening of the deposil or similar ccount. 2.6 Liabllltles and provlslons Liabllilies arè recognIs when there is an obligation at the Balance Sheet da18 as a result of a past gvenl. il is probable Ihal a transfer ol economic benefit will bg required in s8tllemenl, gnd Ihe amount ol the settlement can b6 eslimaled reliably. Llabililies are recognised al the amounl that the Compally anli¢ipales il will pay to settle thè debt OT the amount il has received as advanced payments lor the goods or services it musl provide. Provislons are measured al the best estimate ol Ihe arnounts required to settle the oblioatlon. Where Ihe elfecl ol the lime value ol mon8y is malerial. tho provision is based on thè present valuè ol those amounts, discounted al the pre-tax discount rate ihal reflects th8 rlsks specific to the li8bilily. The unwnding of the discounl is recognlsed in the Statement of FSnancial Aelivities as 8 finance cost. 2.7 Flnanclal Instruments The Company only has fin8nci81 assets and financr81 liabililles ol a kind thal qu81ify as basic financial inslrumenis. Ba51c financial inslrumenls are initially recognised al transaclion value and subsequently measured al their selllemelll value with the exceplion ol bank loans which aTe subsequ8ntly measured at amorlised Cost using the effective interest method. 2.8 P8nsions The Comphny oper8tès a defined contrlbulion pension scheme and the penslon ch8rg8 represents Ihe amounts payable by the Company io the lund in respect of tha year. 2.9 Fund accounting GeneTal funds are unrestrScled funds which are avallable lor use al the discretion ol the Truslees in lurtheranca ol the general objeclivgs of the Company and whi¢h have not been designated for other purposes. Deslgnated funds ¢ompTise unrestricted funds Ihal have been sel asldo by the Trustees lor particular purposas. The aim and use of each designated fund is sel out in the notes lo the lin8n¢lal slalemenls. Reslricled funds are funds which are lo be used in accordanco wlh specific reslriclions imposed by donors or whlch have been raised by the Company lor particular purposes. The costs of raSIng and adtninislering such lunds aro eharged againsl Ihe specific fL¢nd. The aim and u88 01 each reslrictad fund is sel oul in the notes to the financial statemenls. Page 19
Envalope ID.. F64D82FAIA7E.41D3-gE17.CC16BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED {A Company Llmltéd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Incom8 from donatlons and lègac188 RÈstrlcted Unrestricted funds funds 2023 2023 Total funds 2023 Grants Quadrature Climate Found8tion UNESCO Inv8StigAliv8 PractSce The Rova & Davld Log8n Foundation Olher donations 808.805 69.771 25.037 127.057 1,303 80,200 889,005 69,771 25,037 204,908 4,408 77,851 3.105 Total Grants 2023 1.031,973 161.156 1,193.129 Total 2023 1,031,973 161.156 1,193,129 Re$lricled UnreslriG18d funds funds 2022 2022 Tolal funds 2022 Grants Quadrature Climate Foundation Bertha Foundalion Google N8ws Initiativè- Access to Tods Tralnlng Programme Th8 Reva & David Logan Foundation Olher donations 524,279 5,202 72.747 597,026 5,202 6,000 86,130 58,370 6,000 116,700 59,238 30.570 868 Total Grants 2022 679.981 104,185 784. 166 Tolo12022 679.981 104,185 784. 166 Page 20
Docuslgn Envelop8 ID.. F64D82FA.CA7E41D3.9E17.CC18BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED {A Company Llmltod by Guarantèe) NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Income from olher acllvlt188 Incom• from fundralslng events Restrlcled Unr85lrlcted funds funds 2023 2023 Total funds 2023 Inl8rn$lionall Regional Conlerence CIJ Conference lickfjl sales Scheduled and Bespoke Training incom8 10,000 10,000 41.668 118,539 41,668 118,539 10.000 160,207 170,207 Unreslricted funds 2022 Total funds 2022 CIJ Conference ticket sales Scheduled and Bespokè Tralning incom 40,452 133,496 40.452 133,496 173,948 173,948 Other incomlng resource8 Unrestricted funds 2023 Total funds 2023 Tot&1 lunds 2022 Handbook Sales and donalions 31.389 31,389 Auditors. remunerallo 2023 2022 Fees payable lo the Companvs auditor for Ihè audit of th8 C¢)mpanYs annual 8ocounis 2,700 Pag6 21
DO(5[9 Ellv8lopa10.' F64D82FA-CA7E41D3-9E17-CC168C194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Staff costs 2023 2Q22 Wages and salaries Soc181 security costs Contrfbulion lo definèd conlrlbullon peT)sion schemès 206,555 81,901 23.192 207,262 91,254 19.87g 311,648 518,395 The average number of persons ernployéd by the Company during the year was as follows.. 2023 No. 2022 Execulive Director Adminislralive slafl No employee received remun8ralion amounting to than £60.000 in either y8ar. Trust8•s' remuneratlon and èxpènses During Ihg year, no Trustees received ¥Thy remuneration or oth8r nefits (2022- £NILI. ljuring Ihe year ended 30 November 2023, Trustee expenses have beèn Incurred (2022- £NIL). Page 22
Docusign Envebpelo.. F64082FA-CA7E.41D34É17-CC16BCI94EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 D•lJtors 2023 2022 Due wlthln one year Othe¥ debtors 86.627 1.449 31.531 604 Prepayments and accrued Sncome 88.076 32. 135 10. Crodltors: Amounts falllng due wlthln on8 year 2023 2022 Ti8de credlloT5 Olhei credliors Accruals and delerfed Income 56,890 11,329 5,844 364 18.870 230,469 74,063 249,7Q3 Page 23
DDcuslgn Enwebpalo.. F64D62FAiA7E4103.gE17.CC16BCI94E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 11. Statement of funds Stgtament of funds . Current year Balanc8 at 30 NovembBr 2023 Balance at 1 Decembar 2022 Incom• Expenditure Unraslricted funds Designated funds GavinMacFayden Memorial Library Lyra McKn8e Investigalive Journalism Training Bursary CORE Operational Contingèncy Souice Sele¢lion progratnme 1.642 11,6421 10,038 loo.000 {1,0001 9,038 150,000 30.779 50.000 30,779 111.680 80,779 12,6421 189.817 G$nèral funds General Funds 37,490 271,973 195,8781 213,585 Total Unr85trlcled funds 149,170 352.752 {98,5201 403.402 Restrictèd funds Thg Reva & D8vid Logan- lalks, SPP Training, Investigative Practice and Symposium Quadralure Climatè Foundation Trust for London CIJ Regional conference 2023 UNESCO The Reva & David Logan Foundation- Investigalive Practice ftsr LATAM 2023-24 22,888 162,792 1.302 127,057 808,805 1,303 10.000 69,772 1121.2431 1724,713) 12,6051 110,0001 169.772) 28.702 246,884 25,036 125,036} 186,982 1,041.973 1953,3691 275,588 Total of funds 336,152 1,394,725 11,051,889) 678.988 Page 24
DSn Env£lopg ID.. F64082FA.CA7E41D3.9E17.CC1e8C194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmltèd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 11. Statement of lunds Icontlnuedl Stat$m•nt of funds- prlor y8ar alanc8 81 Jo November 2022 88lap)ce al l Deeembe 2021 Income Expendilure Unrestrlcted funds Designated funds GavlnMacFayden Memorial LibT8ry Lyra McKnee Invesiigalive Journalism Training Bursary CORE Operalional Conlingency 5,010 (3,368) 1.642 11,470 87.000 13,000 13.000 (14.432) 10.038 loo,000 103,480 26.000 (17,800J 111.680 G8n6ral funds General Funds- all funds 103,097 252, 133 (317,740) 37,490 Total Unrestricted funds 206,577 278, 133 (335.540) 749,170 Reslricled funds Th8 Reva & David Logan- talks, SPP Training. Invesligalive Pracliee and Swnposium Quadralure Climate Foundation Trust lor London Bertha Foundation- Inv8sligaliv8 Practice for South Asia and Francophone Afriea CIJ Reglonal Conference 22 Google News Inilialive- AGcess to Tools Training Programme Olh6r donalions 69.463 (16) 14, 100 86,130 524.278 28.513 (132.705) (361,477) (47,310) 22.888 162.791 1.303 5.202 23,OQO (5,202) (23.280) 28Q 8,968 6.000 6.857 (14,968) (6,857) 92.795 679,980 (585,793) 186,982 Page 25
Docuslgn Envdope ID.. F64D82FA.CA7E_41034E17-CC16BC194E9D CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llm5ted kjy Guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 11. Statem9nl of funds Icontlnuedl Total of funds 299,372 958,113 (921,333) 336, 152 12. Summary offunds Summary of funds- current year Balanc8 at 30 November 2023 Balance at 1 December 2022 Income Expendlture Designated funds General funds Resliicled funds 111.680 37,490 186,982 BO,779 271,973 1,041.973 12,6421 195,8781 1953,3691 189.817 213,585 275,586 336,152 1,394,725 11,051,889} 678,988 Summary of funds . prior year Balance 81 30 November 2022 Balance al l December 2021 Income Exp8ntlilure Designa18d funds General funds Reslficl¢d funds 103.480 103.097 92.795 26.OQO 252. 133 679.980 117.800) (317.740J f585.793) 111.680 37,49Q 186,982 299.372 958,113 (921,333) 336, 152 Page 26
t>ows Ellv81optr ID.. F64D62FA.CA7E4103-gE17-CC16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 13. Analysls of net asse15 bbtwaan fLsnds Analysls of net assets between funds. currant year Rastrlctèd Unrestrlcted funds funds 2023 2023 Total funds 2023 Current ass81s Creditors due wlhin one year 551.173 {275.5871 201.878 201.524 753,051 174,0631 Total 275,586 403,402 678.988 AnalysSs of net asset5 belween funds- prlor year Reslricled Unreslricled lunds funds 2022 2022 Tol&l lunds 2022 Current ass8ts CTedilois due wlhln one year 373.966 (186.984) 211,889 585,855 (62,719) (249, 703) Total 186.982 149, 170 336,152 14. Reconcillallon of net movement In funds to net cash flow from optrratlng actlvltles 2023 2022 Nel Income for the year las per Statement of Flrtanclal Acllvltiesl 342,836 36. 717 Adjuslmenls for., Inciease in debltsrs Increaselld8cr&asel In creditors 155.9411 1175.6401 (75,008) 114.490 Nel cash provlded by operatlng actlvllies 111,255 136,259 Page 27
D[$10Th EThv810 ID.. F64D82FA-CA7E41D3-9E17-CC16BC194EgD CENTRE FOR INVESTIGATIVE JOURNALISM LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 15. Analy81s of cash and cash equlvalents 2023 2022 Cash in hand 414,975 250,000 453,720 loo,000 Notice deposits (less than 3 months) Total cash and cash equlvalents 664,97S 553.720 16. Analysis of changès In nat dèbt At1 December 2022 Cash flows At30 November 2023 Cash at bank and In hand 553,720 111,255 664,975 553,720 111,255 664,975 17. P•nslon eommltmènts CIJ Limlled operates a defined conlribulion pension scheme. The assets of the scheme are held separately in an independently admlnlstered fund. The penslon cost charge represents conlribulions P3y3ble lo the ILJnd and aTnOtJnled lo £23,192 12022- £19,879). Th8rg were oulslanding conlribulions payable to the fund at the balan08 sheet d918 of £3,89412022.' £2,399) and ar8 induded in creditors. 18. Related party transactions The Company has not enlered into any relaled party Iransaclion during (he year. nor are there any oulslanding balances owng between related parties and the Company at 30 November 2023. P8g8 28