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← Consumers International

2024-12-31-accounts

a better marketplace for a changing world

2024 Annual Report of the trustees and financial statements

contents

Foreword from the Director General............................................1 Message from the President.........................................................2 About Consumers International....................................................3 How we are run................................................................................5 Achievements and impact.............................................................7 Fundraising and partnerships.....................................................17 Governance....................................................................................18 Financial review, reserves policy and risk management.......20 Auditor’s report..............................................................................24 Financial statements....................................................................27

Foreword from the director general

Throughout 2024, consumers grappled with shocks, widening digital divides, and uncertain financial futures. The role of consumer voice in driving fairness, safety, and sustainability in the marketplace became more important than ever. And the stories set out in this report tell of how consumer advocacy groups are actively shaping the marketplace in innovative ways and with new partners.

Digital transformation continued to redefine consumer experiences with new opportunities and risks – the rise of scams, unregulated AI, and how a growing number of us are now exposed to vulnerabilities in digital finance. Our response to some of these issues united across silos, mobilised consumer groups around the world, and brought the voice and real experience of consumers into product and service design from the outset.

Consumer advocates in the Consumers International Fair Digital Finance Accelerator shaped how financial services protect consumers. Over 40 Members, international organisations and industry leaders have banded together to stop scams which now affect one in four of us. One hundred Members joined in a rallying call for World Consumer Rights Day to demand fair and responsible artificial intelligence for consumers.

In other areas - Energy, Food and the Circular Economy - we saw key gaps in how the market actively engages consumers. When this is done right however - greater system resilience results. Take our story of driving change in the food sector. This showcased that through reliable consumer data, public accountability, and political dialogue, reforms were catalysed to improve the affordability of healthy, sustainable foods across Nigeria, Kenya and Zambia.

Our work driving such impact has built on the opportunity and growing desire we see from consumers to feedback, to lead more healthy and sustainable lives, to influence. Our branded series entitled, ‘Purchasing Powers’, presented by Consumers International and produced for us and series participants by BBC StoryWorks Commercial Productions depicted a new power dynamic coming into play, one now far more determined by the consumer. The fact that the series achieved a record-breaking number of website visits speaks to a growing demand from people to influence the very marketplace that affects their everyday lives, needs and desires.

We are navigating increasing complexity in the marketplace, shifting dynamics and new challenges in climate and rising prices. Yet our stories of change and the growing recognition they attract bolster us and our vision for the marketplace. With greater support, our impact will only grow in breadth and depth.

HELENA LEURENT

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message from the president

Dr. Marimuthu Nadason currently serves his second Presidency for Consumers International. He is also the President of the Federation of Malaysian Consumer Associations (FOMCA).

In 2024, consumer issues around the world continued to echo fundamental challenges: rising costs, digital risks, and the urgent need for sustainability. Whether in low-, middle- or high-income countries, consumers everywhere face struggles—from unfair food prices to opaque digital finance to the increasing risks of artificial intelligence reshaping markets and services.

This shared reality reinforces the critical role our movement plays. Consumer associations do essential work fighting for the rights of consumers—monitoring markets, testing products, conducting research and innovation, and leading grassroots campaigns and political dialogue. But at a time when people desperately need their support and advice, consumer associations are increasingly under-resourced.

The voice of consumers must be at the heart of innovation and economic growth, ensuring that new technologies and policies work for people, not against them. This year, Consumers International has championed that voice. We united members across 60 countries, led global dialogues, and supported those on the front lines of consumer advocacy.

We brought our Members directly into conversations advocating for transparent, fair, and inclusive markets — from the first-ever OECD Consumer Policy Ministerial to supporting representation on international standard-setting bodies such as ISO and Codex. We provided funding to consumer advocates in low- and middle-income countries and saw firsthand how initiatives focused on consumer issues of digital finance and fair food prices were able to reach millions and actively involve consumers in shaping the very systems they rely on.

I want to express my deep gratitude to our Board and Council for their guidance and expertise, and to our Members whose tireless work drives our movement forward. It is their dedication that enables Consumers International to influence policies, amplify consumer voices, and build a safer, fairer marketplace for all.

Thank you to everyone who has contributed to this year of impact and progress. Together, we continue to demonstrate that consumers are not just beneficiaries of innovation—they are vital partners in shaping a better economy and society.

DR. MARIMUTHU NADASON

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about consumers international

Consumers International is the Membership organisation for consumer groups around the world.

We believe in a world where everyone has access to safe and sustainable goods and services. We bring together 200 Member organisations who are trusted consumer advocacy groups in more than 100 countries to empower and champion the rights of consumers everywhere.

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we bring together
200 consumer
organisations in 100
countries
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We bring the independent consumer voice to international policy-making forums and the global marketplace to ensure they are treated safely, fairly and honestly.

We are resolutely independent, unconstrained by businesses or political parties. We work in partnership and exercise our influence with integrity, tenacity and passion to deliver tangible results.

CHARTIABLE OBJECTS AND ACTIVITIES

Consumers International was founded as a not-forprofit NGO in 1960. The object for which the charity was formed is to promote consumer rights and education and to promote the voluntary sector for the public benefit with the object of promoting consumer rights. In particular, but not exclusively, by providing conferences and seminars, representing groups in terms of government policies, providing information and liaising between relevant groups. The Consumers International strategy sets out our major activity areas and progress is measured and monitored by the Consumers International management team and Board. Our strategy and achievements for 2023 are set out in this report.

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SALMONNEGRO-STOCK / Shutterstock.com

OUR STRATEGY

We drive consumer advocacy so that consumers are at the heart of the debate and shape the systems that impact them every day. We achieve this through:

Connecting our Members for cross-border collaboration:

We support Members to advance global partnerships, share insights and cooperate on a wide range of consumer issues.

Representing and influencing:

We represent consumers and our Members in the international marketplace and global policy-making forums, bringing the consumer voice to decision-makers at the highest levels.

Convening a leadership network:

We recognise that no single organisation can achieve the level of change required to ensure that consumers are treated safely, fairly and honestly. We bring our Members together with the foremost experts from around the world from governments, civil society, businesses and funders to tackle consumer challenges and build on opportunities.

Driving impact through projects and innovation:

We build and lead initiatives on a range of consumer topics focusing on generating impact for consumers everywhere. We seek new opportunities to accelerate positive consumer rights outcomes.

Consumers International and a delegation of Members bring the consumer voice to the inaugural OECD Ministerial.

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HOW WE ARE RUN

Our global staff are led by our Director General, who is guided by and accountable to the Consumers International Board of Trustees. Our Trustees are ultimately responsible in law for the charity, its assets and its activities.

Our Board and Council are made up of senior executives from our Member organisations. The Board of Trustees is appointed from our Council. The Council is an advisory body to the Board of Trustees and is elected by voting Member organisations at the General Assembly that takes place every four to five years.

Our global team work across 9 countries and 5 continents

BOARD OF TRUSTEE MEMBERS

2023 - 2027

Marimuthu Nadason - Federation of Malaysian Consumers Associations; President Gilly Wong - Hong Kong Consumer Council; Vice President Sandra Molenaar - Consumentenbond (Netherlands); Honorary Secretary

Rocio Concha - Which? (United Kingdom); Treasurer

Rosemary Shumirayi Chikarakara Mpofu - Consumer Council of Zimbabwe

Marta L. Tellado - Consumer Reports (USA) (resigned 31 December 2024) Crisólogo Cáceres Valle - Asociación Peruana de Consumidores y Usuarios (Peru)

Anindita Mehta - Consumer Education and Research Centre (India) (appointed 11 March 2024) Anja Philip - Forbrugerrådet Tænk - The Danish Consumer Council (resigned 30 April 2024)

COUNCIL MEMBERS

2023 - 2027

Advisory

Acción del Consumidor (Argentina)

Asociación Peruana de Consumidores y Usuarios (Peru)

Association des Consommateurs del’Ile Maurice (Mauritius)

CHOICE (Australia)

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Consumentenbond (Netherlands) Consumer Council of Fiji Consumer Council of Zimbabwe

Consumer Education and Research Centre (India) Consumer Reports (USA)

Consumers Korea (Republic of Korea)

Federación Nacional de Asociaciones del Consumidor (Morocco)

Federation of Malaysian Consumers Associations

Forbrugerrådet Tænk - The Danish Consumer Council (Denmark) Hong Kong Consumer Council

International Confederation of Consumer Societies (CIS)

Organización de Consumidores y Usuarios de Chile

Rwanda Consumer’s Rights Protection Organization

Sudanese Consumers Protection Society (Sudan)

The Network for Consumer Protection in Pakistan

Verbraucherzentrale Bundesverband (Germany)

Which? (United Kingdom)

Youth Education Network (Kenya)

LEADERSHIP TEAM

Helena Leurent, Director General

Josephine Parmee, Director, Partnerships and Development (leaver 31 March 2024)

Peter Andrews, Director, Consumer Rights, Innovation and Impact (leaver 15 December 2024) Stefan Hall, Director, Digital Innovation and Impact, from 3 April 2023

Thushani Mediwake, Head, Finance and Organisation Development Charlotte Broyd, Head, Communications and Membership

Sheila Senfuma, Head, Digital Finance (leaver 24 December 2024)

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ACHIEVEMENTS AND impact

OVERVIEW OF THE YEAR

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January
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During the World Economic Forum
Annual Meeting in Davos, we call
on global leaders to recognise the
importance of consumer resilience
in the face of global crises.
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February
We release our
inaugural Consumer
Experience in Digital
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Finance Index,
highlighting gz8
inconsistent
protections and
uneven outcomes for
consumers 9°
in low- and middle-
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income countries.
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March World Consumer Rights Day unites a powerful a coalition for fair and responsible a ~~rtificial~~ intelligence with consumer protection and empowerment

We brought together 100 Members on the day, led an expert debate series on core consumer concerns amidst the proliferation of AI, and released new insights on the consumer experience of generative AI chatbots.

April a Launch of global campaign for transparent digital finance for consumers, with an alliance of 50+ digital finance experts. To date, this has supported regulatory and industry change in Barbados, Uganda and Cambodia. L@

May -

We announce the six Members chosen to receive funding through the Anne Fransen Fund, with winners from Ecuador, Fiji, Cape Verde, Mexico, Mali and Indonesia all of whom will accelerate consumer protection in their countries.

First meeting of the Consumer Coalition to Stop Scams, which brings together Members and global partners to accelerate the fight against online scams by protecting consumers through collaboration, insight, and policy action.

Together with Members we join the fourth session of the Intergovernmental Negotiating Committee to develop an international legally binding instrument on plastic pollution, calling for greater consumer voice in the negotiations.

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June
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Our Fair Digital Finance Accelerator awards eleven Members from low- and middle-income countries with funding to advance national fair digital finance initiatives.

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July

unctad ige for consumer protection law and policy

Member states agree to actively support the consumer movement at the eighth sessi ~~on of the UNCTAD~~ IGE, recognising the trusted role that consumer groups play in protecting consumers.

Our roadmap for consumerdriven food systems transformation releases with key actions, successes, and future steps including strengthening consumer voice in governance, unlocking healthy diets, building resilient systems, and enabling fair food markets.

August

We launch a report on maximising consumer voices in digital financial services policymaking, showcasing strategies from Consumer International Members across 13 countries to drive better digital financial services.

September

Launch of Purchasing Powers, a unique branded series by BBC StoryWorks and Consumers International. The series showcases the new consumer landscape and becomes the AS most-watched series ever produced by BBC StoryWorks. p

Our Next Generation Network - made up of 30 ~~young consumer advo~~ cates at the forefront of change in their regions - connect in a special workshop on effective advocacy.

October

oecd Consumer Policy Ministerial Meeting

Consumers International represents the consumer voice at the first-ever ! Wg ~~OECD Consume~~ r Policy Ministerial Meeting in Paris together with ten of our members from around the world.

November

A people-centred transition at COP29

Consumers International is on the ground at COP29 in Baku, Azerbaijan emphasising the importance of putting people at the heart of climate action. We release an open letter urging governments for fast action and fairer, stronger policies that support consumer needs.

Green Action Week sees Members across 30 countries, along with activists and communities, driving impactful progress on environmental action.

Launch of our recommendations for interoperable, consumercentric redress in crossborder data misuse cases, offering solutions to ensure fair redress and strengthen trust in the digital economy.

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looking ahead

Next year marks the 40th anniversary of the United Nations Guidelines for Consumer Protection, reminding us of how far consumer rights have advanced and how much more there is to do. As we navigate a world facing economic pressures, technological disruption, and the pressing need for sustainable change, the work of consumer associations is more vital than ever.

In the year ahead, we will strengthen the collective voice of consumers worldwide to protect their needs and rights. We recognise that meaningful change cannot be achieved alone. It requires a cohort of marketplace actors – government, industry and consumer groups – to fully harness the power of consumer insights and innovation. By working together, we can embrace new opportunities to drive change at scale and ensure that consumers are represented in the decisions that shape markets and daily life, advancing a fairer, safer and more sustainable future for all.

engaging and supporting our members

We believe that by working together, consumer advocates can achieve far more for the consumers we serve. Consumers International builds a range of effective global and regional platforms for consumer advocates to connect, share insights, campaign and raise visibility on the most relevant consumer issues.

WORLD CONSUMER RIGHTS DAY

Celebrated annually on March 15, World Consumer Rights Day unites advocates from across the world to call for a fair, safe and sustainable marketplace. With our Members highlighting concerns around Artificial Intelligence as a top priority, we focused our 2024 World Consumer Rights Day campaign on ‘Fair and responsible artificial intelligence for consumers’.

In a global week of action, coordinated by Consumers International, we spotlighted key consumer concerns around AI – from deepfakes and scams to misinformation and data ethics. Over 100 Member-led campaigns took place worldwide across schools, media, and government platforms.

Our Generative AI Dialogue and Debate series brought together leaders from organisations including Which? (UK), Public Citizen (USA), Amazon, the UK’s Competition and Markets Authority, Hong Kong Consumer Council, and the US Federal Trade Commission to tackle urgent questions around harm, accountability, and data use. UNCTAD Secretary-General Rebecca Grynspan joined our call, adding a powerful message on AI’s promise and challenges, reinforcing the need for transparency, accountability, and inclusivity—pillars central to consumer protection and a fair economy.

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In a global experiment involving 35 Consumer International Members across 19 countries, we found only 50% of AI chatbot responses cited sources. Our findings, published in ‘The consumer experience of generative AI’, called for stronger AI governance and led to an increase in our Members participating in Consultations and online connects on our AI work.

Highlights from 2024:

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SUPPORTING OUR MEMBERS NATIONALLY

As a network of independent consumer advocacy groups, Consumers International can organise, champion and support national efforts and targeted interventions around a common purpose. In 2024, we supported 43 Members from every region of the world with grants for new research, campaigns, and interventions. Our work to support consumer advocates in low- and middle-income countries currently includes three main grant-making efforts:

Our Fair Digital Finance Accelerator , grew to 77 Members from 50+ countries. The Accelerator has laid the foundation for a more inclusive and accountable financial system. It supports consumer associations in low- and middle-income countries to become experts in consumer protection for digital finance and build bridges with regulators and service providers. In its third year, the Accelerator programme has already seen Members scaling their impact and implementing innovative solution. In 2024, we awarded eleven grants for projects related to fair digital finance, including the Consumer Council of Fiji, which engaged thousands to address scam fears and successfully advocated for the creation of a multistakeholder Anti-Scam Taskforce and a Financial Services Ombudsman.

The Green Action Fund centres on sustainable consumption and reducing poverty. The fund issues grants to consumer associations in countries that deliver innovative sustainability activities - from awareness-raising to training to educational initiatives. In 2024, 26 Consumers International members from low- and middle- income countries received Green Action Fund grants to implement campaigns to promote sustainable consumption. The theme of this year's Green Action Week was 'sharing community', highlighting the positive social, economic and environmental impact of communities coming together to share goods and services.

The Anne Fransen Fund is an annual grant award established in 1988 to support the consumer movement in low- and middle- income countries. It awards grants to consumer organisations for projects based on one of the eight consumer rights. Named after Anne Fransen, the first director of Consumentenbond, the Dutch Member organisation, the Fund has provided almost one million euros in funding over 36 years. In 2024, six of our Members were chosen to receive funding, from Ecuador, Fiji, Cape Verde, Mexico, Mali and Indonesia.

Consumers International Member, CADEF (Nigeria) host a conversation on the importance of digital financial inclusion for Persons with Disabilities.

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Bringing the consumer voice to the table

We represent the independent consumer voice on the global stage – ensuring consumers are present in discussions where they would otherwise be missing. We make sure that consumer rights and principles are spoken for at the highest levels. In 2024, we highlighted the challenges facing consumers and the opportunity we could see through solutions which place consumers at the heart of dialogue and action.

Highlights include:

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Unique Insight about the consumer experience

We conduct research and analysis with our Members and leading experts to build solutions addressing the challenges consumers face. In 2024 we assessed the consumer experience of digital financial services, explored strategies to transform food systems, and advanced recommendations to strengthen consumer protection against data misuse. We also launched a ‘Global Consumer Insights Series’—a platform for our Members and partners to share forward-thinking perspectives and ground-breaking research. The series spotlighted key issues such as scams, the experiences of vulnerable consumers in digital finance, and sustainable living. These insights helped shape vital global discussions on consumer protection and policy innovation.

2024 insights include:

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underscoring the need for more coordinated action, stronger engagement with consumer bodies, and a shift toward outcomes-focused regulation to ensure digital finance truly serves and protects all consumers.

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impactful projects in the consumer interest

We work to build a world where consumers everywhere have access to a marketplace that is safe, fair, and sustainable. Our projects find solutions to consumer challenges across a range of issues; from protecting consumers in a rapidly changing digital world to building consumer resilience in digital finance.

Our projects include:

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year’s T20 Communiqué, helping to shape key discussions on digital inclusion and consumer rights.

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fundraising and partnerships

In 2024, Consumers International’s core funding came from membership contributions by consumer organisations worldwide which are selected to join us as Members. Diverse and secure funding streams allows us to increase our collective reach and impact. Therefore, Consumers International also accepts project funding from select foundations, national governments, multi-lateral agencies, the private sector, civil society and other sources. We did not use external professional fundraisers or seek donations from members of the public, and no complaints were received in relation to our fundraising activities in 2024.

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Our Change Network convenes organisations who share our values to work with us to find solutions and take action that will protect and empower consumers for years to come. From 2024, all organisations within the Change Network commit to our Principles for Building with and for Consumers.

Federal Ministry for the Environment, Climate Action, Nature Conservation and

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governance

Consumers International is a charity registered with the Charity Commission in England and Wales (No.1122155). It registered on 2 January 2008 and is governed by its Memorandum and Articles of Association, as amended 1 November 2007 and 21 November 2015. It is also a not-for-profit company limited by guarantee registered in England and Wales on 11 December 2001 (No. 04337865).

Consumers International was formerly known as the International Organisation of Consumers Unions (IOCU). It was started as a not-for-profit NGO in 1960.

Our structure

Our global staff are led by our Director General, who is guided by and accountable to Consumers International’s Board of Trustees.

The Board of Trustees meets regularly and includes the President, Vice President, Honorary Secretary and Treasurer. It is ultimately responsible in law for the charity, its assets and activities. The Board delegates to the Director General to deliver the management and day-to-day running of the organisation.

The Treasury Committee is a Committee of the Board of Trustees appointed to assist the Board in fulfilling its responsibilities in all aspects of financial management and control of the organisation.

Our Council is a larger, advisory body to the Board of Trustees. Our Board and Council are made up of Senior Representatives from our full Member organisations.

The General Assembly consists of the voting delegates of the full Members of Consumers International and takes place every four years when Consumers International holds its Global Congress. A key function of the General Assembly is to elect the President and the Council. The President is a non-executive position and acts as chair of the General Assembly, the Council and the Board.

Trustee induction and training

New Trustees undergo an induction meeting with the Consumers International Director General, President and legal governance advisor to brief them on their role as a trustee. This includes their governance responsibilities, Board operating and decision-making practices and process, the legal obligations under charity and company law, and the business plan and recent financial performance of the charity. New Trustees are issued with the Consumers International Articles, Guidelines for Council and Board Members and information directing them to legal advice on duties and responsibilities. They are asked to complete and return a ‘Personal Trustee Declaration form’ and a ‘Declaration of Interests form’.

Council Members have an advisory capacity and are given a full briefing at an induction

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meeting that includes their relevant governance responsibilities, Council operating practices and key strategic issues.

remuneration

The key management remuneration, including the Director General, is based on commensurate experience and the breadth and requirements of the role. Following benchmarking of market rates, the Director General signs off job descriptions and pay level for key management staff. The Director General's remuneration is reviewed and authorised by the President of Consumers International and designated Trustees.

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financial review, reserves policy and risk management

Financial review

In December 2023, the Board approved the budget for 2024 which showed a deficit of £29,853. This budget was superseded in July 2024 with a revised budget showing a surplus of £53,261. Financials for the year resulted in a surplus position of £311,763 which was £258,502 better than expected against the revised Budget. The decrease in revenue was offset by careful management of expenditure, giving rise to an underspend on Staffing and Programming costs. This resulted in a surplus to general funds of £300,389 and a surplus for restricted funds of £11,374 thus leading to a consolidated surplus of £311,763 (2023: £427,406 deficit).

The total income for 2024 was higher than the previous year at £2,806,192 (2023: £2,251,388) due to increase in Project income. This increase in income was offset by reduced Membership income arising from reduced contribution amounts. The Membership income for 2024 was £1,034,070 (2023: £1,214,122). Expenditure for the period decreased to £2,494,430 (2023: £2,678,793).

Included in the consolidated results are those of the subsidiary for Consumers International Services Ltd. that was registered in August 2018. A profit of £233,153 was achieved for 2024 (2023: £392 loss) with Income of £353,088 (2023: £79,391), Cost of sales of £91,482 (2023: £51,496) and Expenditure of £28,453 (2023: £28,286). General Funds amount to £20,089 for 2023 (2023: £19,697).

Reserves policy

The general reserves for the organisation increased to £1,706,755 (2023: £1,471,754) with additional designated reserves of £101,712 (2023: £36,323). In March 2015, the Council set a 20% target of unrestricted income to be held in reserves. This equates to a target unrestricted reserves level of £370,823 (2023: £276,584) and we are therefore within our reserves target.

Restricted reserves held at the end of 2024 were £11,373 (2023: £5,616) giving total closing reserves of £1,825,456 (2023: £1,513,692).

The Charity Commission for England and Wales guidance suggests there is no single level, or even a range of, reserves that is right for all charities. Any target set by Trustees for the level of reserves to be held should reflect the particular circumstances of the individual charity. To do this, Trustees need to know why the charity should hold reserves and, having identified those needs, the Trustees should consider how much should be held to meet

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them. We believe with stringent controls in place and careful monitoring of all costs, we can maintain our operations within the designated limits.

The following reasons are stated as to why Consumers International needs to hold reserves:

  1. To maintain a sufficient level of working capital

  2. To secure the organisation against major risks

  3. To act as a cushion to cope with any unexpected costs or to avoid missing out on opportunities

  4. To grow funding for new Member services or ventures in order to grow the organisation

Having considered these factors, we believe that holding three months of operational costs is sufficient to support our working capital requirements, and manage risk as well as addressing any potential growth opportunities.

Risk Assessment

The Trustees and senior management team review the risks the organisation is exposed to. The review looks at the key strategic risks around Consumers International’s ability to deliver its strategy and considers risk mitigation strategies.

Consumers International, like many organisations and Members, is operating in an everchanging landscape. To respond to this challenging environment, we must adapt and evolve to these new realities to survive and thrive. Consumers International’s top key risks that it is addressing are:

  1. Loss of unrestricted income from Membership

  2. Inability to secure investment or sponsorship for strategic development and strategic initiatives

A significant risk to Consumers International is a loss of Members leading to a reduction of unrestricted income. A loss of a large Member will severely impact our core unrestricted income and impact our ability to maintain operations and deliver the results other Members value. To mitigate this risk Consumers International has developed its strategy to become more relevant across a broader range of global stakeholders who can help the delivery of positive consumer outcomes and create more impact through a broader network.

To fund this strategic development, we need to secure additional core investment and contribution. We continue to build relationships with key organisations and work with our Members to secure the additional funds required. We are approaching foundations, corporate entities and social enterprise investors that are responsive to explore areas of common ground in relation to a consumer problem for public good. We have implemented this new strategy with the launch of our Business Engagement model in July 2023 and have inducted 6 Associates to date. The model has been developed to cater for different business interests with four Associate community entry points identified.

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Ethicalsustainable funding guardrails and protocols are in place to ensure we safeguard the organisation when accepting funding from governments, foundations and businesses. The guardrails were discussed and adopted in March 2017 as a result of our deliberations during November 2016 Council and Board meetings.

Trustees’ responsibilities statement

The Trustees (who are also directors of Consumers International) are responsible for preparing the

Trustees’ report and the financial statements in accordance with applicable law and United Kingdom

Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare group statements for each financial year which give a true and fair view of the state of affairs of the group and the charitable company, and of the incoming resources and application of resources, including the income and expenditure of the group for that period. In preparing these financial statements, the Trustees are required to:

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

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure of information to auditor

The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor is unaware. Each of the directors have confirmed that they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

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Auditor

In November 2024, Haysmacintyre LLP changed its name to HaysMac LLP. HaysMac LLP was appointed auditor by the Board of Trustees pursuant to the power under section 485(3) of the Companies Act 2006.

In preparing this report, the directors (trustees) have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

By order of the Board

………………………………

Dr. Marimuthu Nadason, President Consumers International Date: 28 july 2025

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INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONSUMERS INTERNATIONAL (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

Auditor’s report

Opinion

We have audited the financial statements of Consumers International for the year ended 31 December 2024 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Cash Flow Statement and related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONSUMERS INTERNATIONAL (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the directors’ report).

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

Responsibilities of Trustees for the financial statements

As explained more fully in the Trustees’ responsibilities statement set out on page 17, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be

expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

25

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONSUMERS INTERNATIONAL (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Companies Act 2006 and Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as corporation tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's Members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's Members as a body, for our audit work, for this report, or for the opinions we have formed.

Son Horr”

…………………………………………………………………………………

Steve Harper (Senior Statutory Auditor)

For and on behalf of HaysMac LLP, Statutory Auditors

10 Queen Street Place London EC4R 1AG

05/08/2025

Date: ………………………………………………

26

CONSUMERS INTERNATIONAL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial statements

inancial statements
Notes
Income from:
Charitable activities
Membership Fees
2
International advocacy and campaigning
2
Other trading activities
3
Investment income – bank interest
Total income
Expenditure on:
Raising funds
4
Charitable activities
International advocacy and campaigning
4
Total expenditure
Net income/ (expenditure)
Transfer between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 Unrestricted
Funds 2024
£
Restricted
Funds 2024
£
Total Funds
2024
£
Total Funds
2023
£
1,034,070
-
1,034,070
1,214,122
-
1,184,836
1,184,836
869,733
473,060
-
473,060
137,257
30,900
-
30,900
30,275
1,538,030
1,184,836
2,722,866
2,251,387
86,495
-
86,495
203,893
1,151,145
1,173,463
2,324,608
2,474,900
1,237,640
1,173,463
2,411,103
2,678,793
300,390
11,373
311,763
(427,406)
-
-
-
-
300,390
11,373
311,763
(427,406)
1,508,076
5,616
1,513,692
1,941,098
1,808,466
16,989
1,825,455
1,513,692

All income arises from the continuing activities of the charity. There were no other recognised gains or losses other than those stated above.

The notes on pages 25 to 37 form part of these financial statements.

27

CONSUMERS INTERNATIONAL CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 DECEMBER 2024

Notes Group Charity Group Charity
2024 2024 2023 2023
£ £ £ £
FIXED ASSETS
Tangible assets 7 3,816 3,816 10,276 10,276
Investment in subsidiary 8 - 1 - 1
3,816 3,817 10,276 10,277
CURRENT ASSETS
Debtors 9 184,746 418,471 149,225 240,630
Cash at bank and in hand 2,052,350 1,802,303 2,216,033 2,095,804
2,237,096 2,220,774 2,365,258 2,336,434
CREDITORS
Amounts falling due within one year 10 (415,457) (419,225) (861,842) (852,715)
Net current assets 1,821,639 1,801,549 1,503,416 1,483,719
Total net assets 1,825,455 1,805,366 1,513,692 1,493,996
The funds of the charity
Restricted income funds 11, 12 16,989 16,989 5,616 5,616
Unrestricted funds
Designated funds 11, 12 101,722 101,722 36,323 36,323
General funds 11, 12 1,706,744 1,686,655 1,471,753 1,452,057
Total charity funds 1,825,455 1,805,366 1,513,692 1,493,996

The surplus/(deficit) of the parent charity before consolidation was £1,805,367 (2023: £1,493,996).

05/08/2025 Approved by the Trustees and authorised for their issue on ……………….. and signed on their behalf by: fase …………………………………………………

………………………………………………… Dr. Marimuthu Nadason

The notes on pages 25 to 37 form part of these financial statements.

28

CONSUMERS INTERNATIONAL CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Cash flows from operating activities
Net income/(expenditure) for the year
Adjustments for:
Bank interest received
Depreciation received
(Loss) on disposal of fixed assets
Impairment of debtors for bad debts
(Increase) in debtors
(Decrease)/ Increase in creditors
Net cash (used in)/provided by operating activities
Cash flows from investing activities:
Bank interest received
Purchase of fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January
Change in cash and cash equivalents due to
exchange rate movements
Cash and cash equivalents at 31 December
Reconciliation of net debt
There are no debt instruments held, the only net
debt is cash and cash equivalents.
Analysis of cash and cash equivalents
Cash in hand		 Group
2024
£
Group
2023
£
311,763
(427,406)
(30,900)
(30,276)
5,631
7,847
(829)
-
-
24,523
(35,521)
(62,733)
(446,385)
196,388
(196,241)
(291,657)
30,900
30,276
-
6,598
30,900
36,874
(165,341)
(254,783)
2,216,033
2,508,535
1,658
(37,719)
2,052,350
2,216,033
2,052,350
2,216,033

The notes on pages 25 to 37 form part of these financial statements.

29

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES

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

1.1 ACCOUNTING CONVENTION

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Consumers International meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy notes.

1.2 BRANCHES / SUBSIDIARY UNDERTAKING AND CONSOLIDATION

The financial statements aggregate the results of Consumers International (Global Office) and the Regional Hub: Regional Hub for Latin America and the Caribbean (Chile)

Where necessary, the accounts of the regional offices have been adjusted in order to comply with the United Kingdom Generally Accepted Accounting Practice.

The group Statement of Financial Activities (SOFA) and the group Balance Sheet consolidate on a line-by-line basis the results of the charitable company and its subsidiary, Consumers International Services Ltd, registered in England and Wales, of which the charity holds 100% of the share capital. Consumers International has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006 and not presented a SOFA for the charitable company itself.

1.3 GOING CONCERN

The Trustees have prepared the financial statements on the going concern basis. On reviewing the budget, given all large contributors are expected to settle their membership fees for 2025, with mitigating actions in place to reduce costs in the event of a shortfall, Trustees are of the view that no material uncertainties about the entities ability to continue as a going concern exist. In reaching this conclusion, the Trustees have considered the liquidity position and cash flow forecasts up to July 2026.

1.4 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or grantmaking bodies, or funds which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

30

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES (continued)

1.5 INCOME

All income is included in the statement of financial activities when the charity is entitled to the income, receipt is probable and the amount can be measured reliably.

Members’ fees and all other income are recognised on a receivable basis. Project income is considered to represent principally performance-related grants and, therefore, is recognised, as it is earned, to the extent that the organisation has provided the services or activities specified in the underlying funding agreement. Income received for project work in future periods is deferred.

1.6 EXPENDITURE

Expenditure is accounted for on an accruals basis where there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All costs are allocated to either unrestricted charitable activities or to the external project to which they relate. Overhead contribution from project income is deducted from office and administration expenditure and related staff costs incurred in the year.

Amounts transferred to partner organisations, previously referred to as 'grants', have been deemed to reflect a method of incurring direct expenditure via partner organisations, with all original source documentation obtained and accounted for and any unspent funds are clawed back by the partner organisation.

1.7 CAPITALISATION POLICY

Any item over £1,000 in value where its economic benefit could be accrued over multiple years of its useful life are capitalised and depreciated on the above basis.

1.8 DEPRECIATION

Tangible fixed assets are stated in the balance sheet at cost less depreciation and any impairment, which is calculated to write off the individual assets over their estimated useful lives at the following annual rates:

Furniture, fittings and equipment 4 years straight line Computer hardware and software 3 years straight line

1.9 FOREIGN CURRENCY

Transactions denominated in foreign currency are translated into sterling at the exchange rate on the 1[st] of the month for each month.

Exchange differences arising from the translation of the regional office accounts (and the subsidiary undertaking) are included in the SOFA. Exchange differences arising from the translation into sterling of assets and liabilities denominated in foreign currencies are translated using the exchange rate ruling at the balance sheet date. All exchange differences are taken to the respective funds within the SOFA.

Brought forward reserves of the Regional Office accounts are retranslated at the closing exchange rate ruling at the balance sheet date and this movement is reflected as a retranslation gain or loss within other recognised gains and losses in the SOFA.

31

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES (continued)

1.10 EMPLOYEE BENEFITS

Consumers International operates a defined contribution pension scheme. The assets of the scheme are held independently from those of the charity in an independent fund. Contributions are recognised when due and charged to the Statement of Financial Activities.

Short term benefits including holiday pay are recognised as expenses in the period the service is received.

Employee termination benefits are accounted for on an accruals basis and in line with FRS 102.

1.11 FINANCIAL INSTRUMENTS

The group has elected to apply the provisions of Section 11 ‘Basis Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102, in full to all of its financial instruments. Financial assets and liabilities are recognised when the group becomes a party to the contractual provisions of the instrument, and are offset only when the group currently has a legally enforceable right to set off the recognised amounts and intends to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets

Debtors which are receivable within one year and which do not constitute a financial transaction are initially measured at the transaction price. Trade debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised within the SOFA for the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised are recognised immediately in the SOFA.

Financial liabilities

Creditors payable within one year that do not constitute financing transactions are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

1.12 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, occasionally not equal the related actual results.

The financial statements contain a doubtful debt provision of £32,318 (2023: £37,924). A provision has been made based on specific debts which management consider may not be recoverable, typically being debts over a year old.

32

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

2
CHARITABLE ACTIVITIES
Membership contributions
Full Members
Affiliate Members
Government and Supporter members
Project Income
International advocacy and campaigning
3
OTHER TRADING ACTIVITIES
Other income
4
ANALYSIS OF EXPENDITURE
Raising Funds
£
Direct salary costs
66,205
Other direct costs
-
Support costs
20,290
86,495
PRIOR YEAR
Raising Funds
£
Direct salary costs
158,689
Other direct costs
-
Support costs
45,204
203,893
ANALYSIS OF SUPPORT
COSTS
Salary costs for support staff
Accommodations
IT, website and maintenance
Legal and professional
Governance
Other office and administrative costs		 2
CHARITABLE ACTIVITIES
Membership contributions
Full Members
Affiliate Members
Government and Supporter members
Project Income
International advocacy and campaigning
3
OTHER TRADING ACTIVITIES
Other income
4
ANALYSIS OF EXPENDITURE
Raising Funds
£
Direct salary costs
66,205
Other direct costs
-
Support costs
20,290
86,495
PRIOR YEAR
Raising Funds
£
Direct salary costs
158,689
Other direct costs
-
Support costs
45,204
203,893
ANALYSIS OF SUPPORT
COSTS
Salary costs for support staff
Accommodations
IT, website and maintenance
Legal and professional
Governance
Other office and administrative costs		 2024
£
998,976
20,289
14,805
1,034,070
1,184,836
2,218,906
2024
£
473,060
473,060
International
Advocacy &
Campaign
£
Total
2024
£
713,262
779,467
1,066,039
1,066,039
545,307
565,597		 2024
£
998,976
20,289
14,805
1,034,070
1,184,836
2,218,906
2024
£
473,060
473,060
International
Advocacy &
Campaign
£
Total
2024
£
713,262
779,467
1,066,039
1,066,039
545,307
565,597		 2023
£
1,175,855
23,296
14,971
1,214,122
869,733
2,083,855
2023
£
137,257
137,257
International
Advocacy &
Campaign
£
713,262
1,066,039
545,307


Total
2023
£

892,547

1,192,341

593,905
86,495 2,324,608 2,411,103
2,678,793
Raising Funds
£
158,689
-
45,204		 International
Advocacy &
Campaign
£
733,858
1,192,341
548,701		 Total
2023
£
892,547
1,192,341
593,905






2023 £

381,289

40,202

67,648

53,363

37,882
13,521
203,893 2,474,900 2,678,793
2024 £
381,042
33,923
72,294
46,665
36,940
(5,267)
565,597
593,905

33

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

5
THE SURPLUS IS STATED
AFTER CHARGING
Foreign exchange (loss)/gain
Auditor's remuneration (excluding VAT)
Audit fees for the group
Other services
Depreciation
Co-working office space rentals
6
STAFF COSTS
Staff costs were as follows:
Wages and salaries (including temp staff)
Social security costs
Contributions to defined contribution pension
schemes		 2024
£
2023
£
(13,205)
(27,050)
27,900
26,425
11,400
10,450
5,631
7,847
33,581
39,804
2024
£
2023
£
952,672
1,127,359
92,250
107,328
34,489
39,148
1,079,411
1,273,835

During the year, none of the Trustees have been paid remuneration or received any other benefits from employment with Consumers International or its subsidiary, Consumers International Services Ltd. Trustees were not reimbursed any expenses (2023 – none).

The key management personnel of the charity comprise the Trustees and senior management team set out on page 6. The total employee costs of key management personnel for the year was £602,672 (2023: £620,989) and includes 6 members of staff (2023: 6 members of staff).

2024 2023
No. No.
Average monthly number of employees 19 24
The number of higher paid employees was:
£60,001 - £70,000 1 1
£70,001 - £80,000 1 2
£80,001 - £90,000 1 1
£100,001 - £110,000 1 -
£170,001 - £180,000 1 1

The company paid pension contributions of £20,831 (2023: £22,620) in respect of the above employees.

34

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

7 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost:
At 1 January 2023
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
On disposals
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Computer hardware
and software
£
Total tangible fixed
assets
£
182,271
182,271
-
-
(829)
(829)
181,442
181,442
171,995
171,995
(5,631)
(5,631)
-
-
177,626
177,626
3,816
3,816
10,276
10,276

8

INVESTMENT IN SUBSIDIARY

Consumers International Services Ltd. is a wholly owned trading subsidiary, registered in England and Wales (Registration No. 11494269) with registered address 70 White Lion Street, London, N1 9PP. It's performance and financial position is summarised below:

Profit and loss
Turnover
Cost of sale
Gross Profit
Admin expenses
Profit/ (Loss) for the year
Equity as at 1 January
Profit/ (loss) for the year
Gift aid distribution to Consumers International
Equity as at 31 December
Balance sheet
Current assets
Current liabilities
Net assets at 31 December		 2024
£
2023
£
353,088
79,391
(91,481)
(51,497)
261,607
27,894
(28,453)
(28,286)
233,154
(392)
19,697
20,089
233,154
(392)
(232,761)
-
20,090
19,697
389,726
121,388
(369,636)
(101,691)
20,090
19,697

35

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

9
DEBTORS
Membership fees
Other debtors
Prepayments and accrued income
Other taxation and social security
Intercompany debtors - CI Services
Ltd		 Group
2024
£
Charity
2024
£
Group
2023
£
Charity
2023
£
121,219
1,219
1,438
1,438
37,417
37,417
40,242
39,083
23,998
19,586
100,537
100,538
2,112
-
7,008
7,008
-
360,249
-
92,563
184,746
418,471
149,225
240,630

A bad debt expense of £6,844 (2023: £24,522) was charged to the SOFA. The doubtful debt provision at year-end was £32,318 (2023: £37,924).

10

CREDITORS
Group
2024
£
Charity
2024
£
Trade creditors
40,126
39,789
Other creditors
6,072
6,072
Other taxation and social security
15,158
28,312
Accruals
85,524
76,475
Deferred income (see below)
268,577
268,577
415,457
419,225
Deferred income reconciliation
Brought forward balance at 1 January
Amount recognised as incoming resources in the
year
Amount deferred in the year
Deferred income carried forward at 31 December		 Group
2024
£
Charity
2024
£
40,126
39,789
6,072
6,072
15,158
28,312
85,524
76,475
268,577
268,577		 Group
2023
£
Charity
2023
£
79,930
79,618
9,471
9,471
29,919
29,919
111,234
102,419
631,288
631,288
415,457
419,225		 861,842
852,715
2024
£
2023
£
631,288
351,395
(631,288)
(351,395)
268,577
631,288
268,577
631,288

Deferred income comprises grant funding received in advance of carrying out the project activities which would give rise to entitlement and recognition of the income.

36

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

11 ANALYSIS OF FUND MOVEMENTS

Group
Restricted funds
Green Action Fund
Sustainable Consumption
Bill & Melinda Gates Foundation
Rockefeller Foundation
Rockefeller Philanthropy Advisors
Mastercard Center for Inclusive
Growth
New Venture Fund
Pool Fund for International Energy
Unrestricted funds
Designated - Ford Foundation
General funds
Total:
Group comparative 2023
Restricted funds
Green Action Fund
Sustainable Consumption
Bill & Melinda Gates Foundation
Rockefeller Foundation
Rockefeller Philanthropy Advisors
Mastercard Centre for Inclusive
Growth
New Venture Fund
Unrestricted funds
Designated - Ford Foundation
General funds
Total:		 1 January
2024
Income
Expenditure
Transfer
31 December
2024
£
£
£
£
£
-
85,883
(76,770)
-
9,113
5,616
79,697
(77,437)
-
7,876
-
521,795
(521,795)
-
-
-
-
-
101,547
10,815
351,670
(101,547)
(10,815)
(351,670)
-
-
-
-
-
-
-
29,879
(29,879)
-
-
-
3,550
(3,550)
-
-
5,616
1,184,836
(1,173,463)
-
16,989
36,323
115,753
(50,354)
-
101,722
1,471,753
1,422,277
(1,187,286)
-
1,706,744
1,513,692
2,722,866
(2,411,103)
-
1,825,455
2,529
85,043
(91,679)
4,107
-
-
79,658
(74,042)
-
5,616
-
383,907
(383,907)
-
-
-
-
-
214,334
64,942
218
(214,334)
(64,942)
(218)
-
-
-
-
-
-
-
41,631
(41,631)
-
-
2,529
869,733
(870,753)
4,107
5,616
245,820
-
(209,497)
-
36,323
1,692,749
1,381,654
(1,598,543)
(4,107)
1,471,753
1,938,569
1,381,654
(1,808,040)
(4,107)
1,508,076
1,941,098
2,251,387
(2,678,793)
-
1,513,692

37

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

The objects of each of the restricted funds are as follows:

Green Action Fund– A project funded by the Swedish Society for Nature Conservation (SSNC) to promote awareness and advocate practices which encourage sustainable consumption.

Sustainable Consumption - A project funded by BMUB, Consumers International lead on Consumer Information Programme (From Sustainable Lifestyles towards Social Change), as one of the six programmes run under the UN’s 10 Year Framework of Programmes on Sustainable Consumption and Production (10YFP).

Bill & Melinda Gates Foundation - ‘Fair Digital Financial Accelerator’ project to support consumer advocates in low and middle-income countries to develop expertise and build connections with digital finance regulators and providers to increase the presence of consumer-centred policy.

Ford Foundation - Funding received from the Ford Foundation to enhance our work on digital consumer rights, particularly in lower and middle income countries has been set aside as Designated reserves.

Rockefeller Foundation - ‘Consumer Voice for Fair Food Prices’ project to empower consumer advocates in Africa and mobilise policy makers and competition authorities to act on excessive food prices.

Rockefeller Philanthropy Advisors - ‘Integrate to Zero’ project enabling One Stop Shops for integrated consumer energy systems.

Mastercard Center For Inclusive Growth - ‘Building Consumer Voice for Digital Finance’ project to explore models of digital finance to improve protection and empowerment for vulnerable consumers.

New Venture Fund for Global Policy and Advocacy - project to build a better digital finance system for vulnerable consumers by building guidelines on how to improve transparency.

Pool Fund for International Energy – ‘Energy Consumer Voice’ project to uncover the five most promising new or existing initiatives by consumer organisations to drive forward a consumer-centred energy transition with potential for scaling-up.

The transfers between funds during the prior year simply relate to the general fund covering the overspend in the various restricted funds.

38

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITY
Restricted funds
Green Action Fund
Sustainable Consumption
Bill & Melinda Gates Foundation
Rockefeller Foundation
Rockefeller Philanthropy Advisors
Mastercard Impact Fund
New Venture Fund Project
Pool Fund for International Energy
Unrestricted funds
Designated - Ford Foundation
General funds
Total:
Charity comparative 2023
Restricted funds
Restricted funds
Green Action Fund
Sustainable Consumption
Bill & Melinda Gates Foundation
Rockefeller Foundation
Rockefeller Philanthropy Advisors
Mastercard Impact Fund
New Venture Fund Project
Unrestricted funds
Designated - Ford Foundation
General funds
Total:		 1 January
2024
Income
Expenditure
Transfer
31 December
2024
£
£
£
£
£
-
85,883
(76,770)
-
9,113
5,616
79,697
(77,437)
-
7,876
-
521,795
(521,795)
-
-
-
-
-
-
-
101,547
10,815
351,670
29,879
3,550
(101,547)
(10,815)
(351,670)
(29,879)
(3,550)
-
-
-
-
-
-
-
-
-
-
5,616
1,184,836
(1,173,463)
-
16,989
36,323
115,753
(50,354)
-
101,722
1,452,057
1,385,277
(1,150,679)
-
1,686,655
1,488,380
1,501,030
(1,201,033)
-
1,788,377
1,493,996
2,685,866
(2,374,496)
-
1,805,366
2,529
85,043
(91,679)
4,107
-
-
79,658
(74,042)
-
5,616
-
383,907
(383,907)
-
-
-
-
-
-
214,334
64,942
218
41,631
(214,334)
(64,942)
(218)
(41,631)
-
-
-
-
-
-
-
-
2,529
869,733
(870,753)
4,107
5,616
245,820
-
(209,497)
-
36,323
1,672,661
1,303,529
(1,520,026)
(4,107)
1,452,057
1,918,481
1,303,529
(1,729,523)
(4,107)
1,488,380
1,921,010
2,173,262
(2,600,276)
-
1,493,996

39

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Group
Tangible fixed assets
Investments
Current assets
Creditors due within one year		 Unrestricted
funds
Restricted
funds
Total funds
2024
2024
2024
£
£
£
3,816
-
3,816
-
-
-
1,951,530
285,566
2,237,096
(146,880)
(268,577)
(415,457)
1,808,466
16,989
1,825,455		 Total funds
2023
£
3,816
-
3,816
-
-
-
1,951,530
285,566
2,237,096
(146,880)
(268,577)
(415,457)		 10,276
-
2,365,258
(861,842)
1,513,692
1,808,466
16,989
1,825,455
Group comparative
Charity
Tangible fixed assets
Investments
Current assets
Creditors due within one year
Tangible fixed assets
Investments
Current assets
Creditors due within one year		 Unrestricted
funds
Restricted
funds
Total funds
2023
2023
2023
£
£
£
Unrestricted
funds
Restricted
funds
Total funds
2024
2024
2024
£
£
£
10,276
-
10,276
-
-
-
1,728,354
636,904
2,365,258
(230,554)
(631,288)
(861,842)
1,508,076
5,616
1,513,692
3,816
-
3,816
1
-
1
1,935,208
285,566
2,220,774
(150,648)
(268,577)
(419,225)
1,788,377
16,989
1,805,366		 Total funds
2023
£
3,816
-
3,816
1
-
1
1,935,208
285,566
2,220,774
(150,648)
(268,577)
(419,225)		 10,276
1
2,336,434
(852,715)
1,493,996
1,788,377
16,989
1,805,366
Charity comparative
Tangible fixed assets
Investments
Current assets
Creditors due within one year		 Unrestricted
funds
Restricted
funds
Total funds
2023
2023
2023
£
£
£
10,276
-
10,276
1
-
1
1,699,530
636,904
2,336,434
(221,427)
(631,288)
(852,715)
1,488,380
5,616
1,493,996		 Unrestricted
funds
Restricted
funds
Total funds
2023
2023
2023
£
£
£
10,276
-
10,276
1
-
1
1,699,530
636,904
2,336,434
(221,427)
(631,288)
(852,715)
1,488,380
5,616
1,493,996

40

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

13 MEMBERS' LIABILITIES

The Charitable company does not have a share capital and is Limited by guarantee. In the event of the company being wound up, the maximum amount each member is liable to contribute is £1. There were 84 Full Members as at 31 December 2024 (2023:87).

14 RELATED PARTIES

The Board of Trustees are made up of member organisations of Consumers International in line with our constitution. All Members have to pay minimum membership fee to Consumers International. None of the Trustees have been paid remuneration or received any other benefits from an employment with their charity or related entity.

Consumers International also has an investment in its trading subsidiary Consumers International Services Ltd. Please see note 8 above. Recharges for salaries and overheads were made during the year totaling £83,327 (2023: £1,265). The inter company balance held at 31 December 2024 amounts to £127,488 (2023: £92,563).

The trading subsidiary, Consumers International Services Ltd, donates the whole of its profit to the parent entity, Consumers International.

15 PENSION COMMITMENTS

The charity operates a defined contribution scheme for staff, and further pays into a personal pension scheme for one individual (2023: one individual). Total employer contribution amounts paid to the schemes were £34,489 (2023: £39,148). Amounts outstanding at the end of the year were £3,262 (2023: £4,407).

41

CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

16 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR PERIOD

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
Notes £ £ £ £
Income and endowments from:
Charitable activated
Membership Fees 2 1,214,122 - 1,214,122 1,386,644
International advocacy and 2 - 869,733 869,733 477,976
campaigning
Other trading activities 3 137,257 - 137,257 490,174
Investment income – bank interest 30,275 - 30,275 4,892
Total income 1,381,654 869,733 2,251,387 2,359,686
Expenditure on:
Raising funds 4 203,893 - 203,893 222,194
Charitable activities
International advocacy and 4 1,604,147 870,753 2,474,900 1,503,136
campaigning
Total expenditure 1,808,040 870,753 2,678,793 1,725,330
Net income (expenditure) (426,386) (1,020) (427,406) 634,356
Transfers between funds 11 (4,107) 4,107 - -
Net movement in funds (430,493) 3,087 (427,406) 634,356
Reconciliation of funds:
Total funds brought forward 1,938,569 2,529 1,941,098 1,306,742
Total funds carried forward 1,508,076 5,616 1,513,692 1,941,098

All income arises from the continuing activities of the charity. There were no other recognised gains or losses other than those stated above.

42

Consumers International brings together over 200 member organisations in more than 100 countries to empower and champion the rights of consumers everywhere. We are their voice in international policy-making forums and the global marketplace to ensure they are treated safely, fairly and honestly. Consumers International is a charity (No.1122155) and a not-for-profit company limited by guarantee (No. 04337865) registered in England and Wales.

consumersinternational.org impact@consint.org @consumers_int /consumers-international