centre"o-_cities
ANNUAL REPORT AND ACCOUNTS
FOR THEYEAR ENDED 31 DECEMBER 2023
Registered Office: 9 H01yrc￿ Stree( LcThkn SE12EL
A Charitable Ccffipany Limit&J by Guarantee Registered in England and Wales
Company No. 06215397
Registered Chartty No. 1119841

CENTRE FOR CITIES
CONTEKrs
YEAR ENDED 31 DECEMBER 2023
Pages
Truste8s' Annual RetK)rt
3-12
Independent Auditorfs Re￿rt
13-16
statement of Finanaal Adivtbes
17
Balance Sheet
18
statemert of Cash Flows
19
Notes to the Accounts

CENTRE FOR CITIES
TRUSTEES. ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
Foreword by Nigel Hugill, Chalr of Centre for Cities
In 2023, the Centre published 15 ￿searCh re[￿$ and briefings. more than 70 blogs. released
28 ry)dcasts and organised 49 public events.
In January 2023, we launched ¢)ur flagship annual report on urban Britain. Cities Outl¢)ok
2023. It prowded an in-depth anatysis of how the problem of economic inadivity across
Brrtain's aties and large towns has increased Sin￿ the covid 19 pandemic. It also set out the
long-t8m consequences and implications this problem wll have for the Govemment's
levelling up agenda. The researth was covered by many national and I￿al media outlets and
has influenced govemment tK)licy on levelling-up.
Levelling up has always been a f￿u5 for the C8ntr8 and w programme during the year has
addressed many of the ￿re components of the levelling-up agenda. Including setbng out a
new approach to idenlifying and analysing innovation ctuslers, tracking the perfomianco of
Britain's high streets, and setting out the contribution that (*ies make to the countrls nel zero
ambitions. We also undertook detailed work IcK)king at the perfoman(* of the transport
systems in Glasgow and Cardtff and how they g)uld be imtxoved.
We published two landmarks retths during the year whith have been widely cited by the
media, and have changgd the nature of their respective Folicy debates.
One looked at Lortdon's sluggish projuctivity perfomiancE since the great recession which
showed that more than 40Vo of the national prtsductivty slowdown since 2008 was due to
London's poor perf0mlan￿. And the second repjrt highlighted the size of the UK'S housing
problem. Based on comparative European anaWis it showed that the shortfall of homes nol
built in the UK since the seC￿d wortd war now stands at 4.3 million.
It's highly likely that there will be a general electKJn in 2024. In preparation the Centre wtll
continue to:
emphasise the role that atie5 (wrrently play and shoukl be playing in the nation81
e(x)nomy, and how the gap between Ihe two can be ￿dUced.
set out what the future of devolution should look like, both in tems of deepening
devolution in places that alre￿ have s(Nne. and spreading devolution to places that
need it.
help ￿tY leaders to understand their ecorv)mies and to develop evIder￿e-based
policies that will improve the economic r*rfomiance of their places.
In doing this, the Centre v￿51 seek to infom the wlicy debate by providing sound, evidence
based analysis and advice. and working with an ever-growing nefv￿rk of local and national
decision-makers.
Nigel Hugill

CENTRE FOR CITIES
TRUSTEES. ANNUAL REF>ORT
YEAR ENDED 31 DECEMBER 2023
The Board of Trustees are pleased to wesent Iheir TTUStees' Annual Report and Accounts for
the year ending 31 De¢ember 2023. The Trustees, Annual Rewrt contains a Directors, Report
as required by company law. The accounts comply with the requirements of the Companies
Act 2006 and Accounting and Rewrting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance Y￿th FRS102, effective I
January 2019.
Our Objectives and Activities
Centre for Cities is an irKlependent tharity. We work closely wilh urban leaders. Whitehall
and businesses to ensure our vrtwk is relevant, accessible and of practical use to local and
national policymakers.
The purposes of the tharity, as set ¢Jrt In the Memorandum of A350ciation. are:
To promote education for the public b8n8fft in issues of economics and public policy
in relat￿n to titles large towns in the United ￿ngdorn and elsevthere in the vnrld:
To promote fcy Ihe public benefft ￿sear￿) in the aforementiorled fields" and
To publish the useful results of such researth.
The vision shaping our acknvtties eath year is of a UK economy that makes the most of
dffferent cities. potential to increase economic prosperity across the country.
We Work to understand how and why e0)￿￿niC with and char¥Je take place in cities in the
UK and disseminate these firKlings widety in orderto help British cities improve their economic
perforniance.
To futfil its purpose. the Centre undertakes the following actNithes:
1) Producing high-quality research and policy: We publish a range of original
research reports and briefings. blogs and paper5 on the economic perfoThance of UK
cities arKI large towns- and how to improve opwrtunities for their residents.
Our research is prryjuced by an in-house team of analysts. with input from extemal
experts. The research is of high qualty. drawing on a robust evidence base. It aims to
inform public debate. Folicy and practice and includes the development of clear,
evidence-based wlicy protM)sals. We do this independenty bLrt in consullation with
Whrtehall departments, tL)litscal parties. thal authorities and business organisations.
We cary out researth in aSsociat￿n with UK cities and bring together netwoths of
Ioc81 and national deci$ion-mak8rs frrmn both the public and the private sector to Share
knowledge. This enables u5 to infom p)liw a￿1 pradi¢e direcuy and to publicise
lessons from this worl which are r8Fevant to other ctties.
2) Engaglng wlth stakeholders: To ensure the public beneffts of the work we do. all
our reports and papers are available to the public free of charge on our website and
we disseminate these findings to varied audien￿5 through national. I￿al and
specialist broadcast and prinl media. socsal media and presentations al our own and
others. events. Our events programme indudes public events (free to attend) as well
as events at the major paty conferences each year. We publish a regular newsletter
and work in partnership with others. induding joumalists. universities and L?ti85. to
publicise the findings of our work_

CENTRE FOR CITIES
TRUSTEES. ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
3) Promollng an evldencfrbased approach to poliey4naking." We are a partner in the
What Works Centre for Local Economic Gro￿ IWWG). part of the What Works
Netsyork, with the London Sd)(x)l of Economicz. It is funded by the ESRC and
govemrnent departments. WWG analyses which policies are most effective in
suppotting and increasing local economic growth. It works to prowde solutions for loca5
and national policymakers thrcMJgh.'
a) Systematically reviewing the evidence base on Folicies for l¢)cal economic gr¢)wth
using a robust methoddogy:
b) Working wilh and conveni
nts and works
for local authortties, LEPS,
central govemment and businesses to help them understand and make better u58
of evidence in designing and deltvering p)lioy'.
c) Improving the
of the UK eviden￿ baseby helping to develop
'demonstration' projeGts. or local policy experiments.
In 2023 we undertook V•Drk in the following areas:
Cities Outlook- The Ilagship annual Cities Outlook report in 2023 looked at the scale
of economic inactiwty across places in the UK. highlighting spatial divides in 'hidden
unemployment,. National, regional and trade media reported widely on the key
findings. the launch webinar attracted over 600 attendees. hearrng from the
Govemment's Levelling Up minister and other high-profile cnmmentators. A
supwrting podcast series, blog content and infcoraphic reached a total of over 5,000
people, playing a key role in rAxilioning Centre fcK Cities as a leading voice in
economic poliGy.
Cost of living- Centre tr Cibes continued lo run its Cost of Living tracker for the first
hair of the year until inftation passed its peak, provtding local leaders and officials and
media with information about the impact of inflation in their area.
Unemployment - Centre for Cities conduded ils monitoring of the labour market's
recovery following the shocks over the previous two years as employment rates
stabilised at or above their Pre-pa￿eMiC levels in August 2023.
High streets - Centre for Ctties undertook analysis of retsil spending lo assess
whether an i￿￿&aSe in online business during the pandemic had affected high streel
spending in urban area5 across the UK. Further analysis a(J05s several briefings
explored the relationship between cities and smaller places nearby, providing
evidence of the close economic relationship betsveen the two, challenging prevailing
views.
Hybrid working- A major proie¢t examined upto-date figures on weekday travel into
the City of London, making recommendations on planning for a hybrid working world
and managing tts long48mi economic impacl to the Mayor of London's office. The
resulting report. offi￿ politics supported ongoing engagement wtth the Mayorfs office
and secured national media coverage.
Prcyjuclivity - Two projects IcK)ked at ways to unlock productivity growth in sp8Ctfic
C4ty-regions. All cylinders.. The rolg of the Midlands Engine in the British economy
looked at the impact of underperformance in Midlands citie5 on the national economy
and how to address it. Capital losses.. The mle of London in the UK'S productivity
puzzle explored how London's pr￿jUc11vty could be improved having failed to fully
recover since 2008.
Housebuilding and planning - A rewt tided The housebuilding crisis." The UK'S 4
mllllon missing homes. one of Centre for Cth"es' n￿st impactfvl yeL set new terms for

CENTRE FOR CMES
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
the debate over housebuilding and planning refo￿. Months after publication st
continues to be quoted in national media and policy debates as a reliable estimate of
the UK'S supply sh¢)rtfall and a valuable anatysts of the housebudding challenges.
Local govemment fundirYJ- Centre for Cities made several proposals for streamlining
local govemrnent funding. a commitment made in the Govemment's Levelling Up
White Paper in 2022. It will continue building on this work in 2024 as Government's
funding simplrfication plan is rofied (xrt.
Cenlralisation
Centre for Cities made significant o)ntributions to iwo pieces of
Resolution Foundation's Economy 2030 Inquiry. most prorninently the reports A fale
of Two Cities and In place of centralisation." A devOlut￿n deal for London. Greater
+llanchester. and the West Midlands. The conduding Ending stagnation report by
Resolution Foundation extra(aed key firNJiws ab(xrt the UK'S mosdy-urban economy
and crucial policy recommendations from this work which has measurably increased
fO￿S on the role of big crfÉies' underperf0nn8n￿ in national economic shortfalls.
Innovation- Centre for Cities. using evidencè on the locations of innovative fiTms from
Data City, presenting its analysis of the geography of innovation hotspots to
Department for Science. Innovation and Techr￿logY and produced a final report that
highlightèd the importance of urban infrastructure to cxrtlÈng edge business.
Urban transwrt- Over several reports, Centre for Cities surveyed public transport in
UK cities. focusing on three citi.es in Wales and Glasgow in Scotland. Resulting reports
led to coverage at devolved national level- as well as in transport trade and specialist
media - and contribLrted to high-level debates OV￿ national active Iravel, public
transport ridership and net zero goals. Centre for Cities continued providing media
commentary on key natbonal and devdved transport issues, induding bus franchising
as the launGh of the Bee Network in Manthe5ter provided a crucial milestone.
Cty leadership - In a series of stx pcKJcast episodes downloaded over 2.IX)O limes in
tolal, Centre for Cities spoke to leaders across the county and of all political sides
abcwt their approath to leading a ryty, the nature of leading a place. and the policy
issues they have faced.
What Works Centre for Lo￿1 Economic Gr0￿-The Centre has wntinued lo deliver
against tts objectives. Highlights indude the publication of four eviden￿ briefings and
five rapid evidence reviews Cft topi￿ relevant to levelling up (public procurement,
public sector relocation, public spaces. and fair employment). publication of guidance
on using logic models. a blog series on core economic Con￿pÈS (aimed at local
policymakers who may not come from an ecorK)rnic background), providing advice
and support to central govemment policymakers on evaluating key local growth
policres. and hosting events and trainirKJ (wrth Offi￿rS from over 100 local government
organisations attending training or events in this peri(MJ).
Publlc Beneflt
The trustees of a charity must have regard to the Charity commiss￿,$ guidance when
exercising any powers or duties to which the guidance is relevant.
The Charity remains committed to ￿ aim of provtding public benefft in accordan￿ wtth the
Charibes Act 2011.
The Trustees also Lxjnfiryn thal, in carying out its Principal Activities. the Centre provided
public benefit during 2023.

CENTRE FOR CITIES
TRUSTEES. ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
The Centr8 produces high-qualty research and ￿lIcY anatysis that are independent of
govemment. individual clients or companies. The research is made available widely and free
of charge to individuals. organisations. pradÉlioners and others a¢tFve in urban ecx)nomic
development. The Centre constantly invests in improvi￿J outreach to ensure our work
reaches more policymakers, practitioner5 and mefflber5 of the public.
To complement our research work, we deliver papers, which focus on pradical way5 in which
UK cities tackle longstanding challenges SLth as tmjuclrvty and unemploymént.
drawing on the UK and intemal1￿al case studies.
In 2023, w8 released over 100 briefings, blogs and research rep￿ts covering topiGs including
clties, recovery from parKlemic restris*ons. efforts to increase public transport ridership and
active travel, the potential for fiscal devolution to England's largest ctties, and the role of big
cities in driving prosperity in their regions.
Flnancial review
The year ended with a surplus of £141,316 (2022: _£216.106). Funds carried foTward we
£959,321 (2022: £818,005).
Durtng the year. our main activities were Research. Extemal Affairs and the What Worf(s
Centre for Local Economic Growth. The income arKI expenditure linked to these activtties
were unrestricted.
Incom8
Total incoming resources were £1.878.873 {2022.' £1,751,747). Our main source of income
was a core grant frotn the Gatsby Charitable Foundation. In 2023. we r￿1ved £1,100.000,
which was approximately 59 per cent of all our reveTJues.
Other funding was generated through sponsorship agreements for research projecas and
events.
In 2023. the What Works Centre for Lwal Ecommic Growth project run in partnership with
the London Schwl of Economics generated £488,53212022: £462.730) for the Centre.
Resources expended
The Cerrtre's expenditure was £1.737.557 (2022: £1.967.853). The decrease in expenditure
was mainty due to the Icwer than in the previous year staff and projects CL)sts.
ReseNes Policy
The Centre for Cities. reserves are defined as unrestiicted net (xjrrent assets, and they are
set to the equivalent of at least six months of the operating costs.
The reserves are required to FKolect the continuty of the organisation against drops in
income, to cary out researth projects not fvnded by swnsorship. for Gapital items
replacement and to cover unplanned emergencies and potential risks.
Free reseNes held on 31 December 2023 were £950,190 {2022: £804.7101. up by £145.480.
The surplus on the free reserves will be expended in 2024 on new advocaGy and research
projects.

CENTRE FOR CtriES
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
FUTURE PLANS
To have the impacl we desire, we need to continue to produce excellent researth and
cornmunicate it effectively across our govemmenl and uty neiworks, and lo the public. In
2024. we will focus on those areas of national and local wlicy of most importanGe lo the
economic perfonnance of cities:
The flagship Cities Outlook 2024 reF*M focuses the shortrall in cumulative average
disposable incomes across cities and large lowns in the UK since 2010 and aims to
set the agenda in an election year. It focuses how places are faring and what
progress has been made towards levelling up.
Centre for Ctties will continue to place th8 emphasi8 on highlighting the ecA)nomic
perfomiance ofthe UK'S cilies and large towns regular media commentary on key
economic milestones including the Chancellorfs Budget. The local. mayoral and
general elections taking place in 2024 will present opportunities to inforni national and
local debates.
Centre for Cities working in partnership with What Works Growth will progress ils
research into streamlining I￿al govemment financing. resutting in recommerFdations
that aim to infonn Govemment thinking in Fts approach to grant schemes.
With the support of a grant fr(m Charities Aid Foundation. Centre for Cities wll
compare the geographies of charttable giving and local economic need. The resulting
publication will be launched wtth an online event and will be the subject of policy
roundtables laking pla￿ following the publication.
Centre for Ctties is undertaking a project cnmparing the contribulion of big cities to
economic growth in the UK and in other G7 countrFes. This will compare large urban
areas, share of eo)nomic ac*vty in dtfferent couritries and identify how to make the
UK'S econcKnic growth compete ￿th the G7.
Centre for Cities will continue to examine data on the retum to the office and
passenger traffic on public transwrt to offer recommendations on managing the
economic impact of hybrid V￿rking.
The 'Realising RegIOr￿ Growlh, events series ￿ntinUes. drivlng the discussion
around regional grobth opportunities th the n8Xt event planned for South Yorkshire.
To tKnst the impact of wr research programme. we WTII run a busy schedule of public events
including a four-part series ofonline panel events in partnership V￿th LSE Cities, a programme
of receptions and report launch events. online briefing events ahead of mayoral elections f(x
audiences across the o)untry and public panel d58cussions at party conferences.
Engaging with senior r￿u[e5 from business, academia. wlicyTnaking. local and national
government and Westminster to present researth and ideas. infonn the public debate and
diS￿sS policy and practice will continue to be an imp)rtant part of Centre for Cities. strategy
to influence policy outcomes in recent years.

CENTRE FOR CMES
TRUSTEES. ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE DEfAILS
Charity number
Company number
Registered office
Website:
1119841
06215397
9 Holyr(￿ Street, Londo￿ SE12EL
ntreforcities.
REGISTERED AUDITORS:
Chariot House Chartered AcccAJntants
44 Grand Parade
Brighton and Hove
Brighton
BN2
BANKERS:
HSBC Bank PLC
16 King Street
London WC2E WF
DIRECTORS AND TRUSTEES
The directors of Centre for Citses are its trustees for the purrx)se of chariiy law.
The trustees serving during the year arKI up to date of approval of the acrounts were as
folk)ws:
William Nigel Hugill (Chaiman)
Afexander Charles Plant OettLn3wfL0231
Nicola Jane Yates (hfton 29m2r20241
Tom Messenger Riordan
Miranda Helen Sharp
Atan Paul Harding
John James Cummir
Joseph Christopher Burns
Deborah Cadman leJ￿e10
Jane Elizabeth Robinson 1VkneW231
Marc Elliot Mogul Cffjx•￿￿Jl4}
KEY MANAGEMENT PERSONNEL:
Andrew Carter
Paul Swtnney
Sian Morgan
Anna Bullegas
Chief Exe(xrtive
Director of Policy and Researth
Director of Exlemal Affairs
Head of Finan￿ and Operalions

CENTRE FOR CITIES
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Govoming Documont
Centre for Cities is a company limited by guarantee. govémed by its Artides of Association,
last amended on 11 April 2011.
Appointment of trustees
The Board of Trustees, who a￿ also M￿)be[S and Dirertors of the Charitable Company, is
s8lf-appoinling. A trustee's period of Offi￿ is three years from the date of appointment or
reappointment. A Irust&e may be re-appointed by the trustees ts a further ￿riod of three
years.
New members of the Goveming ￿ are elected on the basis of nominations from the
Trustees and the executive officers based on the candidates, professional qualities,
experience and personal competence.
Trustoe inducli¢)n and trainlng
All new trustees are provided V￿th an induction pack giving full details of how the Charity is
constituted and operates. Any further inforrnation they requiie 15 provided by an appropriaté
senior person wtthin the Charity.
Organisation
The Board of Trustees consists of not less than three members and is nol subject to any
maximum. The Board is reskK)nsible for the overall govemance of the Charity. It meets three
times a year to oversee the affairs of the Centre. The Board appoints a Chief Executive to
manag8 the day-ti>day operaliorks of the charity.
Related partles
Upon appointment, each trustee makes full ￿Itten disclosure of interests. including
r81ationships that may be of relevance to the Centre's work and posts held that could
potentially re5uIi in a conflict of interest. This wtitten drsdosure wrll be kepl on file and trustees
are emailed annual￿ to check that it is up to date. It can be updated at any time throughout
the year.
In the course of meetings or acbvtttes. twslees dj'sdose any interests in a transadion or
deasion Ythere there may be a conflict between the organisation's best inte￿$t5 and the
trustee's best interests. or a conflict between the best interests oftsvo organisations ￿th whith
th8 Trustee is involved.
In the current year. no reiated party transac11¢￿S were rewted. None of oUrtr￿leeS receives
remuneration or other beneffts fr(xn the chartty.
Pay pollcy for staff including key management p8rsonno1
The pay of all staff, induding senior staff, is rewewed annually. The ￿j￿ent wlicy is lo award
all staff an in(xease in saary provided the Centre reaches a fundraising milestone set by the
Finance and Aud￿ Committee. The In￿eaSe is based on a review of changes in the cost of
living during the cour88 of the year and is agreed by the Finan￿ and Audit Committee. All
10

CENTRE FOR CITIES
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2023
the Centre's salaries. induding those of Sen￿ 5tsff. are benclynarked against pay levels in
similar organisations.
Risk management
The establish8d risk assessment system inVo￿e$ identrfw'rvJ the types of threats the Charlty
fa￿, priortlising them in terms of impad and rewmmendirKJ r￿trOlS to mitigate Ihem.
The ongoing risks continue to be around seoJring sufficient funding to deltver the Centre's
ambitions and ensuring our is of high qualty arKI Folicy relevartce.
The funding risks are mitigated by engaging wth a wide range of potential sponsors and
building long-term relationships with them. To ensure our work is of the highest standard and
relevan￿ we have a qualty assurance and wlicy relevance process in ￿a¢e. with intemal
and extemal checks at key stages to peer rewew our work and ensure it continues to be
objective. independent. robust and rig1)ro￿.
The Board is satisfied that. for all rna1￿ risks, appropriate ryjntrols have been put in place
which are regularly reviewed and adjusted acuxdingty.
11

CENTRE FOR CMES
TRUSTEES. ANNUAL REPORT
YEAR ENDED 310ECEMBER 2023
Statement of Irustees, responsibilities
The Charitys tnJ5tees (who are also Ihe directors of Centre for CFties for the purposès of
company law} are resFonsible for preparing a trustees, annual rewrt and accounts in
accordance with applicable law and Unrted Kingdoffl Accounting Standards {United Kingdom
Generally A￿pted Accounting Practi￿) including FRS 102 'The Finanaal Reporting
Standard applicable in the UK and Republic of I￿land..
Company law requires Chartty trustees to prepare accounts for ead) year, which give a true
and fair view of the state of affairs of the charitable company and of ihe incoming resource5
and application of resources. induding the incnme and expenditure. of the charitable
company for that year. In preparing the accounts. the trustees are required to:
select suttable am)unting FM)licies and then apply them consistenuy,
observe the methods aNJ principles in the Charities SORP (Statement of
Recommende(I Practice}:
make judgements and estimates that are reas¢)nabFe and prudent.,
State whether applicable UK accounting standards have been followed, subject lo
any material departures disck)sed and explained in the ac£ounts:
epare accourT15 on the going ￿n(￿n basis unless it is inappropriate to
esume that the Charity will continue in operati￿.
The trustees are ￿spOnsible for keeping proper acc￿Jntin9 records that disclose wf(h
reasonable accuracy at any time the finanaal position of the Charity and lo enablo Ihem to
ensure that the accounts compty with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charilable company and hen￿ taking reasonable steps for the
prevention and detection of fraud and other irrgjularities.
Dls¢losure of InfO￿atIOn to audllor
Each oflhe trustees has confimied thal there is m infomiation of which Ihey are aware. which
15 relevant to the audit. but of which the audÉtor is unaware. They hav8 further confimied that
they have taken appropriate steps to identrfy such relevant infomiatK)n and to establish that
the auditor is aware of such information.
Audltor
In accordan￿ V￿th section 485 of the Companies Act 2(X)6. a resolulion proposing that
Chariot House Lld be reapwnted as auditr* ofthe c(Mnpany will be put to the Annual General
Meeting.
alf of
of Trustees
Nigel H
Date
12

CEKniE FOR CITIES
STATEMETr￿ OF FINANCIAL ACTivmES
(INCLUDING INCOME AND EXPENDfTURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Oplnlon
Wo have audited the financial statements of Centre for Cities (the 'charitable companl)
for the year ended 31st December 2023 which comprise the Slatement of Financial Activities,
the Balance Sheet, the Cash Fk)w Slatement and notes to the finanaal statements, induding
a summary of significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and Unf(ed KiTrJdom Accounting Standards
{United Kingdom Generally Accepted Accounting Praclice).
In our opinion the financial statements:
give a true and fair view of the stste of the charitable companvs affairs as at
31st December 2023 of its incA)ming resourrEs and application of resources,
including its result. for the year then ended
have been properfy prepared in accordance with Untted Kingdom Generally Accepted
Accounting Pradice,. arKf
have been prepared in accordance requ1￿Ments of the Companies Act 2006
Basls for oplnlon
We conducted our audit in accordance ￿￿th Intemational StarKlards on Auditing {UKI (ISAS
(UK)) and applicable law. Our resFy)nsibililies under those standards are further described in
the Auditorfs responsibilities for the audit of the accounts seclion of our report. We are
independent of the charity in accordance with the ethical requirements that are ￿levant to our
audit of the accounts in the UK, including the FRC'S Ethical Standard. arKJ we have fulfilled
our other ethical responsibilities in ac(x)rdance wth these requirements. We believe that the
audit evidence we have obtained is sufficient appropriate to yowde a basis for our
opinion.
Conclusions relating to ongoing concem
In auditing the financial statemerts. we have a￿duded that the TnL8tees' use of the going
concem basks of acco￿ting in the weparation of the accourrts is appropriate.
Based on Ihe work we have perfO￿ed, we have not identified ary material uncertainties
relating to events or conditsons that. indrvidualty or collectively. may cast signTficant doubt on
the charitable company's ability to continue as a going concem fcf a period of at least twelve
months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Tnjstees ￿th respect to going cxincem are
described in the relevant sectiLm5 of this repc
Other infomiatlon
The trustees are responsible for Ihe 0th8r information. The Other infomatton comprises the
information included in the Annual Reprxt. otherlhan the finanoal ststem8nts and our Report
of the Independent Auditors thereon.
13

CENTRE FOR CMES
STATEMEMf OF FINANCIAL ACTIVMES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Our opinion on the financtal statem8rts does not ca)ver the other infornation and, except to
the ext8nt othe￿iS8 8xpliatly stated in our report. we do not express any fomi of assurance
conclusion thereon.
In connection viith our audit of the financial ststements. our ￿SponSibl1￿ is to read the other
information and. in doing so. consider ￿ether the other infomation is malerially inconsistenl
vrith the finanaal statements or (xjr knol￿edge obtained in the audtt or otheThvise appears to
be materialty misstated. If we identfy SLth material inconsistencies or apparent material
rnisstatements, we are required to detemine whether this gives rise to a material
misstatement in the finanoal statements themselves. If, based on the work we have
performed. we conclude that there is a material misslatem8nt of this other infornalion. we are
required to Teport Ihat fact. We have nothing to reFQrt in this regard.
Oplnions on other matters prescribed by the Companlos Act 2006
In our opinion, based on the work undertaken in the course of our audtt:
the informalirm given in the Report of the Trustees for the financial year for whith the
financial statements are prepared is consrstent with the financial statements.. and
the Report of the Trustees has been wepared in accordance wtlh applicable legal
requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of the knowledg8 and understanding of the charity and its environment obtained
in the course of the audtL we have not hdentified material misstatements in the Report of the
Trustees.
We hav& nothing to report in respect of the folk￿Ing matters where the Companies Act 2006
requires us to report to you if, in our opinron:
adequate accounting r8cJJrds have been kept. or retun￿ adequate for our audit
have not been received from branches Vistted by us" or
the financial statements are not in agreement with the ac[￿U￿ting records and retums:
we have not received all the infomiaion and explanations we require for our aud¢ c
the Trustees were ￿1 entttled to tske advantage of the small companies exemption
from the ￿qUirement to rrfepare a Strategic ReFQrt or in preparing the Report of Ihe
Trustees.
Responslbilltles of trustees
As exFSained more fulty in the Statement of Trustees. Responsibilities. the trustees, who are
also the directors of the charitable company for the purpose of company law, are responsible
forthe preparation of the financial statements and for being satisfied that they give a true and
fair view. and for such intemal control as the trustees deternine is necessary to enable the
preparation of financial staternents that are free from material misstatement. whether due to
fraud or error. In preparir¥J the financial statements, the trustees are reswnsible for assessing
the charitable company's abilty lo continue as a going concern, disclosing. as applicable.
matters related to going concem and using the going concem basis of accounting unless the
14

CEPrniE FOR CITIES
STATEMEKf OF FINANCIAL ACTMTIES
IINCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
trustees either intend to liquidate the tharitable (xxnpany or to cease cperation5, or have no
r8alistic altemative tyjt lo do so.
Our responslbilities for the audit of the financlal sL*ements
Our objectives are to obtain reasonable assuran￿ about vthether the financial statements as
a whole are free from material misstatement. whether due to fraLKI or error. and to issue a
Report of the Independent Auditors that indLKles our I)pin￿￿. Reasonable assurance is a high
level of assurance bui is Trjt a guarantee that an audit conducted in acc£Jrdance wth ISAS
(UK) will always detect a material misstatement vthen rt exists. Misstatements can arise from
fraud or error and are considered material rf. indTwdually or in the aggregate, they could
reasonably be expeded to influence the ecor￿lIC deasions of users taken on the basis of
these finanaal staternents.
The extent to which our prowlures are capable of detecting irregulartties. including fraud is
detailed beh)w.
We gaIn￿j an understarKling of the legal arKI regulalory framework applicable to the
charitable company and the industry in which Tt operates. and considered the risk of acts by
the charrf(able company that We￿ contrary to appIl￿ble laws and regulations, including fraud.
We considered these risks in the light of various factors including the level of complexity,
subjectivty. uncertainty, potential management bias. fraud. materiality and any other
relevant factors.
We considered the extent to which these would have a material impacl
on the financial statements and designed our audit work accordingly.
We Identified Ihat the followng areas were of h￿h risk"
Completeness of income. We perfomed vari￿$ audit tests to ensure that income was
not materially understated in the financial statements.
Management override of controls. We perfo￿ed vamus audit tests to ensure there
was no material management override of controls
We designed audit prc￿dures to respond to the risks identified. recognising that the risk of
not detecting a material misstatement due to fraud is higher than the risk of not detecting one
resulting frorn 8￿Or. as fraLKI may involve deliberate conceament by, for example, forgery or
intentional misrepreserrtations, through collusion.
W& focussed on laws and regulations which could give rise to a material misstatement in the
financial statements. induding, but not limtled to. the Companies Act 2006. UK tax legislation,
Charities Act 2011 and Charilles SORP 2019.
We did not find any instances of non-compliance or breach of the legislation framework
applicable to the charitable company.
Agreed the financral statement dtsGlosures to ￿Kje￿￿ng supporting documentation.
Made enquirFes with management and of legal o)unsel when C￿sidered ne￿SSary,
performing analytical pr(￿edureS to identlfy any unusual or unexpected ￿lationShIpS
that may indicate risks of material misstatement due to fraud. and reviewng
significant or unusual transactions to identtfy their underlying suptK)rting rationale
15

CENTRE FOR CITIES
STATEMEKf OF FINANCIAL ACTMTIES
(INCLUDING INCOME AND EXPENDITURE ACCOUND
FOR THE YEAR ENDED 31 DECEMBER 2023
Discussed and reviewed the thaiity's business mc#Yel and fonNard planning to
assess going cOn￿M
Carried out subslantive testing tjn In￿¥￿e and expendilure
Re-perfomied reconciliations of control accounts. and recalculated items such as
depreciation
Inspected the minutes of m8ètirys of those charged wtth govemance. and made
direct enquiries of management arKI the board of tru5tee5 conceming the charrivs
policies
There are inherent limitations in ts a￿rt prc￿lureS describetl above aTKI. the further
removed non-compliance with lav￿ and r8gulations rs from the events and transactions
reflected in the financial statements. the less likely we would become aware of rt. We did not
identify any key audtt matters relating to irregulartiies. induding fraud.
As in all our audits, we also addressed the risk of management override of intemal controls,
including testing joumals and evaluating whether there was ewdence of management bias by
the dir8Ctors that represented a risk of material misstatement due to fraud.
A further description of our res￿SibIlItieS fLY th8 audtt of the financial statements is Socaled
on the Financial Reporting Council's websile at wm.frc.org.uklaudilorsreswnsibilities. This
description fomis part of our Rewrt of the Independent Auditors.
Use of our r•port
This report is made solely to the charitable Comp￿￿3 members. as a body. in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audtt work has been undertaken
so thal we might state to the charitable companys members those matters we are required
to state to them in an auditorfs reFort and for no other purFK6e. To the fullest extent permtM6d
by law. we do not accept or assume responsibilty to anyone other Ihan the charitable
company and the charttable company's members as a body, for this rewrt. or forthe opinions
we have foThed.
Mark Partridge FCA
Statutory Audtior)
for and on behalf of Chari)t House Limtted
Chartered Accountants and Statut(Ky Auditor
44 Grand Parade
Brighton
BN2 9QA
Date: .
16

CENTRE FOR CITIES
STATEMENT OF FINANCIAL ACTMTIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Income from:
tlonatlon$ and Grnnts
1,100.000
1.100,IXIO
Charltable actmlles:
Research
137.166
118,333
Extemal Affairs
83.500
62.095
What Works Centre
488.532
462,730
Totsl from Gharitsble adlvltles
709.198
643,158
In¢ome from Investmènts
28.787
2,366
other Income
40,888
6.223
Total Income
1.878.873
1,751,747
Expenditure on:
Charltable activÈti•$:
Research-Policy
642841
772.201
Extemal Affairs
606,584
732,922
What Works Cenire
488,532
462.730
Total
1.737.557
1.967.853
Not Income and net
movement in funds
141.316
1216,106}
Reconclllatlon of fun(ts
Total funds brougm forward
818,005
1,034,111
Total funds carrlod forward
959,321
818,￿5
AII fiFnds in the current and comparative year were unrestrftted.
All income and expenditure derive from contirJuir¥ artr¥itie5.
The statement of finanual artNItFes a150 complles the requirements for an income and expendlture
account underthe Companies Art 2fJ)6.
17

CENTRE FOR CITIES
8ALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Flxed a5$ets
Tangibie assets
9,131
13,295
Total flxod assets
9.131
13,295
Current assets
Debtors
Cash at bank and in hand
12
289.251
824034
388,030
1,683,308
Totsl current assets
1.113.285
2.071,338
Liabllltles
13
163.095
163.095
1.266,628
1.266,628
Net Gurront assets
950.190
804,710
Total assgts less currert
Ilabllttles
959.321
818.005
Unrestrided fvnds:
16
959,321
959.321
818,005
818,005
Approved and authorised for issue by the Board of Tw5tees on 2Tr TVWL Llknnd
signed on their behalf by Nigel Hugill.
18

GE￿RE FOR CMES
STATEMEKf OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Ngt cash provld•d by op•ratlng aclfvltles
883,5￿)
684.528
Cash flow$ from investing xtivttlès:
Int&rest receiv
28.787
2,366
Purt*ase of langitAe fix•1 assets
14.5271
24.2
{4,0351
11.669}
Change in cash and cash w4uiv8lenls in th8
reporting ￿rK)d
859,274
682,859
Ca¥h arKI ￿$h equivabnts at Ihe
beginning of the reporting peric*J
1.683.308
1,CW.449
Cash and ¢•sh èquNalents 8t Ihe end of th&
rewllng perlod
824.034
1,683.308
RECONCILIATION OF INCQMEIIEXPEMtxtURE) TO NET CASH FLOW FROM OPERATING
ACTfrfiTIES
2023
2022
Nat income fcf the repNbng PErw)J
Adlustm¢nt$ for.
Deprwation charges
Interest receivthle
Decrease in debtors
De￿8$9 in creditors
141.316
1216.1061
11.962
12,3661
1244,5801
1.135.618
128,7871
98.779
(1.103,532)
Net cash provid￿1 by {abscrt*d byy ￿T8￿C￿l acar4i
883,534
19

cEP￿E FOR CITIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
AccouvfiNG POLICIES
Accounting policies provKle the basis on the accounts are prepared and explain the
accounting treatment of material transactions or items in the accounts.
(a)
Basis of preparation of accounts
The accounts have been prepared in accordan￿ with the Charitys Memorandurn & Articles
the Companiés Ad 2006 and "Accounling Reporting by Charities.. Statement of
Recommended Praclice aPp￿Cable to tharities preparing their accounts in accordan￿ wilh
the Financlal Rep￿ting Standard applicable in the UK and Republic of Ireland {FRS 102)
(effethe 1 January 2019)". The Charity is a Public Benefft Entity as defined by FRS 102.
Assets and liabilities are inttially recognised at historFcal or transadion value unless otherwise
stated in the relevant kK)ticy notels).
The financial statements are prepared in F*)unds sterfing. which is the functional currency of
Ihe charity. Monetary amounts in these financial statements a￿ rounded to the nearest £.
(b)
Going concern
The Charty has confimied core funding of £1.100,CW per annum from the Gatsby Foundation
for the period 2023 to 2025. As set oul in 'Reserves Polity in the Truslees, Annual Report.
Ihe Charily holds reserves in the minimum required. which are available to support research
and advocacy in coming years.
The Trustees have a reasonable exP￿tatIon that the Charity has adequate resources to
remain in operation for the foreseeable fijture. Thus, the Trustees continue to adopt the going
cL)ncem basis of accounting in preparing the ac0￿nIS.
(c)
Crltlcal acc¢)unting estimates and Judgements
In the application of the Chariws aciyjunting policies, the Tnjstees are required to mak8
judgements, estimates and assumptions about the carying amoLtnl of assets and liabiltties
that are not readily apparent from thher sources. The estimates and assooated
assumptions are based on historical experience and other factors that are considered to be
relevant. Actual result5 may drffer from these estimates. The estimates and underiying
assumptions are reviewed on an ongting basis. Revisions to accounting estimates are
re¢ognised in the perFTrJ in which the estimate is revised where the revision affects only that
penod. or in the period of the revision and future perioJs where the revisK)n affects both
current and future periods. There were no criti￿1 aw)unting estimates during the period
(d)
Recognitlon of income
Donations are accounted for as received. In the event that a (k)natit)n is subject to fulfilling
perfomiance conditions before the charity is entitled to the funds. the income is deferred until
either those condttions are met in full. or their fulfilment is wholty within the control of the
charity. and it is probable that those condilions wrll be fulfilled by the reporting period.
Grants are recognised when the charity has an entitlement to the funds and any conditions
linked lo the grants have been met. INhe￿ perfomance condition5 are attached to the grant
and are yet lo be met. the income is rec(KJnised as a liabilty and induded on the balanc6
sheet as deferred income to be released.
20

CENTRE FOR CMES
NOTES TO THE ACCOUTr￿S
FOR THE YEAR ENDED 31 DECEMBER 2023
(e)
Interost roc01vable
Interest on funds held on detM)sit induded when receivable. The charity records it upon
notification from the Bank.
(fj
Funds
Funds which are expendable at Ihe disuetion ofthe Trustees in furthera￿￿ of the objectives
or administration of the Charity ￿e dassified as unrestricted funds.
Ig)
Flnanclal Instruments
The thartty ha5 elected to apply the provisions of Section 11 'Basic Financial Instruments and
Section 12 '(Xher Financial Instruments Issues. of FRS102 to tts finan￿al instruments.
The Charity only has financial assets and liabilities of a kind that qualtfy as basic financial
instruments. These financial instruments are rew3nised at the amount payable or receivable
when the instrwnent is first recognised and subsequ8ntty measured at their settlement value.
(h)
Debtors
Trade and other debtors are recc*3nised atthe setuemenl amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade dtscounts due.
Cash and cash equivalents
Cash and equivafents comprise cash on hand aThJ call de￿$its. and other short-temi highty
liquid investments that are readily convertible to a known amount of cash and are subject to
an In￿gnifICant risk of change in value.
lil
Liabilltles
Liabilities ar& recognised when there is an obligation at the Balance sheet date as a result of
a past evenl. it is probable that a trartsfer of economic benefit wll be required in settlement.
and the amount of the settlement can be estirnaled reliably. Liabiif(ies are recognised 8t the
amount that the company anticipates it V￿1] pay to settle the debt or the amount it has received
as advanced payments for the goods or Sery1￿ it must provide.
(k)
Expendlture and recoverable VAT
All expendmure is reccgnised once there is a legal or constructive obligation to that
expenditure, it is probable settlement is required and the amount can be measured reliably.
All costs are allocated to the applicable expendtture heading that aggregate similar costs to
that category.
Irrecoverable VAT is charged as a cost against the adivity for whith the expenditure was
incurred.
21

CENTRE FOR CMES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
(l) All¢)&￿10n of support cost$
Support Gosts are the cxjsts of those functions that assist the work of the ¢harity but are not
directly charitable activities. Support costs include HR. finance, payroll, govemance and
general office costs which support Centre for Cit￿. adivrties. The basi8 on which support
costs have been allocated is set ￿t in rKrte 7.
(m) Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on
a straight line basis over the periol of the lease.
{n)
Tangible fixed assets
Tangible fixed assets are stated at cost including any in(xdenlal expenses of acquisition and
unrecoverable VAT where appropriate. Atl assets costing more than £500 are capitalised.
Depreciation is calculated to wrrte off the ojst of fixed assets on a straight-line basis over their
estimated useful lives. Depreciation is charged f￿M the month of acquisition. The principal
estimated useful lives for this puryx)se are:
Computer equipment a￿1 software- 3 years
Fixtures and Ftttings - 5 years
Leasehold Improvements - Over the frfe of the lease
To the extent that VAT is i￿eCOverable, the cost is induded and identtfied separately within
the contract or funL*onal area to vthich it relates and vthere approwiate VAT on Fixed Assets
is capitalised.
(o)
Ponsion costs
The Charity has a money purchase scheme for qualifying employees. Pension costs charged
to the statement of Financial Activities rekYe5ent the contributions payable by the Charity
the period (see Note 9).
Company status
Centre for Cities is a company limit8d by guarantee and has no share capital.
Every member of the chartty undertakes to corrtribute such amount as may be required (not
exceeding £10) to the Charity's assets rf f( should be wound up vthile he or she is
a member or within one year after he or she ceases to be a member, for payment of the
Charills debts and liabilrties contracted before he or she ￿aSeS to be a member, and of the
costs. charges and expenses of wnding up, and for the adjustment of the rights of the
contributories among themselves. Its registered office is 9 Holyroc*J Street. 2nd Flwr, London
SE12EL.

CENTRE FOR CMES
NOTES TO THE AccouKrs
FOR THE YEAR ENDED 31 DECEMBER 2023
Donatlons and Grants
2023
2022
Coro Grant
1,100,000
1.1￿.0[rf)
In 2023. Centr8 for Cities received a donation of £1,100,ocKI. Th8 donation was an annual
oJr8 grant from Gatsby Foundation. Lord SainsburVs f￿lty chafttabl8 trusL
Investment Income
Centre for Citi8s' investrngnt income d £28.787 (2022: £2,366) arises from money held in
deposit accounts.
Income - Other Activities
Income received from consultancy.

CENTRE FOR CtnES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysls of expenditure on charitable activllies
2023
Roseareh-
Polky
External ￿￿11 Works
Affalrs
Centre
Total
Stsff Costs
Projects Dlrect Costs
Premises
Depreciation
IT & Communication
Printing & Stationèry
MIs￿lIaneouS Office Costs
Legal. ProfessKJnal and In$ur8nce
Subtotal
410.227
36.868
70.878
3.737
8,153
1.040
37293
3,338
347,691
116,545
49.450
2,607
5,688
726
25.372
2.329
398.533
5,354
44.505
2,346
5.119
653
19.892
2.096
1,156.451
158.767
164.833
8.690
18.960
2.419
82.557
7,763
571.$34
550.408
478.498
1.600.440
Support Costs Inote 7)
Govemance Costs (note 7)
Subtotal
57.458
13,449
38,339
17.837
7.167
2.867
102.964
34.153
56.176
10.034
137.117
Totsl
642,441
606.584
488.532
1.737.557
Analysls of expenditure On charllable actiTthles
2022
External What Works
Aftalrs
Centre
Totsl
Pollcy
Staff Costs
Projects Dlrect Costs
Premises
Depreciation
IT & Communication
Printing & Stationery
Mlscellaneous Office Costs
Legal, Ptof8ssi)nal and Insuran
478.527
78,575
78.663
5.981
7.819
1,714
48.893
2.897
.014
172.759
42,478
3.230
4.222
925
57.114
363.326
28,133
36.186
2.751
3.597
788
15.464
1,334
1,237.867
279.467
157,327
11,962
15.638
3,427
121,471
5,797
Stsbtotal
703.069
678.308
451,579
1.832.956
Support Costs (note 7)
Govemance Costs (note 7)
Sul)tot81
54.855
14.277
36,424
18.190
8.621
2.530
99.900
34,997
69.132
54,614
11.151
134.897
Total
772201
732.922
462.730
1.967 853
Expenditure on charitable adlvities vms £1.737,557 (2022: £1,967,853}. All expenditures
were unrestricted. Most of the costs in thè above table (note 61 relate to staff, project direct
costs and premises costs.
Staff costs consist of gross pay, employer Nl and pension costs and are direcuy attributable
to the Centre for Cities, activtlies. Other staff LX)sts are part of support costs.
24

CENTRE FOR CMES
NOTES TO THE AccouKrs
FOR THE YEAR ENDED 31 DECEMBER 2023
Projects, direct expenditures are made up of (£ists that relate to events and research. Events
costs include venue and equipment hire. catering. travel and accLKnmodation costs. Costs
related to research projects include data. polling and printing of rep)rts. Premises costs
include rent and rates, service L*arge. office security and insurance.
Analysls of support and governance costs
Centre for Cities initially identtfies the costs of its support functions. It then identifies those
costs. which relate to the govemance function. Having identified its govemance costs. the
remaining support Costs together wtlh the govemance costs are apportioned between the
three charitable actrvities (see r￿te 61 in the year. The table below shJws an analysis of
supwrt and govemance costs and the basis of apportionment.
2023
Generdl Go￿rn3￿ce
Support
Functlon
Total
8a$ls of
Apportionmont
Salaries
100,435
23.533
123.968
Time
Irrfomialk)n TechnolryJy
2.529
2,529
Cost
Audit Fees
9.5(K)
Goveman
Legal & Other PrOf￿￿onal Fees
1.120
1.120
Goveman
Total
102J64
34153
137,117
2022
General Governan
Support
Function
Total
Basls of
Salaries
97,594
23.997
121.591
Time
Infomiation Technok)gy
2.3[
2.306
Cost
Audit Fees
11.000
11.000
Govemance
Legal & Other Professional Fees
Govemance
Total
34.997
134.897
25

CENTRE FOR CITIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Net incomel(expenditure} forthe year
This Is staled aft•r Charylng:
2023
2022
OPerat￿g leases - photocopier
1,028
Op8rating le8ses- property
104.792
104.792
Deprecrdlion
8.690
11.962
Auditorts remuneration..
Audit fees
9.500
11,000
Analysis of staff costs, trustse romunerallon and expenses and the cost of key
management personnel
2023
2022
Wages 8fKI salaries
Social security costs
Perssion costs
1.069,748
106.656
104.016
1,134.248
120,207
105,003
1.280A19
1.359.458
2023
2022
Empbyees e8rning belween £60,001- £70.000
Employees eamirvJ between £TO.￿l- £80,000
Empk)yees aarning between £80.001- £￿.0[￿1
Empknyees earrting between £g3.001 - £1c￿.000
Employees earning between £1(KI,001- £120.000
The charity trustees were not paid and did nrrt receive frc¥n the charity any beneffts or
reimbursem8nt of their travel expenses durin9 the year.
Pension contribution5 in respect of hlgher-paid employees totalled £42.09812022: £57,087).
The total employee benefits (gross salarie5, employer's Nl and employerfs pension
contributions} received by the key management personnel listed pag6 9 were £437,2Crf)
{2022: £387.623).

CENTrE FOR CMES
NOTES TO THE Accoupirs
FOR THE YEAR ENDED 310ECEMBER 2023
10 Slaff numbers
The avetage monthly headcount W8s 21 staff (2022: 23 staffj and the average monlh
number of the full-time equivalent employees during the year was as follows:
2023
2022
Research
External Affairs
wwc
Governance
10.5
20.0
22.0
11 Tanglble fixed assets
Leasew Fulurès ar
Improvgments
Fittings
Comwtsr
Equipmenl
Total
Cost or book value
At 1 January 2023
Additions
111.704
37.617
3.897
73.026
630
222.347
4.527
Al 31 D8cwnbar 2023
111.704
41,514
73.656
226,874
Accumulat￿ d￿rOCIatIOn
At 1 January 2023
Charge for year
111,704
36257
617
61.092
8.073
209,053
8,690
At 31 December 2023
111.704
3Q874
69.16S
217.743
Net book valuo
At 31 D•e•mb•r 2023
9,131
At 31 DecemboT 2022
1.360
11.93S
1329S
l of the tsngible fixed assets are used for charitable purFX)ses.
12
Debiors
Totsl
Total
2023
2022
Du8 within one year.
Trade Oebtors
Prepayments
Other debtors
113.714
75.203
100,334
163,225
68.825
155.980
289.251
388.030
27

CENTRE FOR CITIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13
Credltors: amounts falling due withln one year
Total
2023
Total
2022
Trade creditors
Taxation and sc￿181 secunty
Accruals
Deferr￿ income
6.284
67.180
89,631
20.CX)O
4.171
66,283
91.174
1.105.000
163,095
1.266.628
14
Operating lease commllmerbts
On 31 December 2023, the chartty had the followng ¢werating lease commitments:
2023
2022
Nol later than one year
Later than one year and not later thaft five years
at five ypars
104.792
189.208
104.792
294.000
294.000
398.792
The above commtlments are for an operating lease on the 2nd flcK)r, 9 Holyrcxxl StreeL
15
Related party transaclions
There were no related party transactions.
16
The funds of the charity
The fund of £959,321 on 310ecemb8r 2023 vfas unrestri¢Xed.
17
Analysls of chanys in debt
The tharrty haj no debt during the year.
18
Ta￿￿10n
The Charity is Considw￿l to pass the tests set out in Paragraph 1 Schedule 6 Finance Act
2010 and therefore it meets the definllion of a charitable company for UK Corporation Tax
puq)oses. Al￿rding[Y, the Charity is potentialty exempt from taxation in respect of income
or capital gains received within categories covered by Chapter 3 Part 11 Corwration Tax
Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that
suth income or gains are applied exdusivety to charitabFe pur[K￿.
28