INISTITUTE
FOR
GOVERNMENIT
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR TO 31 MARCH 2023
harlty number 1123926
Company number 6480524

INSTITUTE FOR GOVERNMENT
ANNUAL REPORT AND ACCOUNTS
CONTENTS
Pages
Legal and Administrative Information
Govemors, Annual Report
3to11
Independent Auditor's Report
121014
Consolidated Slalement of Financial Activities
15
Charity and Group Balance Sheet
16
Consolidated Statement of Cash Flows
17
Notes to the Accounts
18to29

INSTITUTE FOR GOVERNMENT
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR TO 31 MARCH 2023
Board of Governors
Governor
Lord Sainsbury of Turville
Baroness Valerie Amos
Sir Andrew Cahn
Sir lan Cheshire
Miranda Curtis
Sir Richard Lambert
Baroness Susan Kramer
Lord Simon of Hrghbury
Sir Paul Tucker
Jonathan Slater
Slr David Lidinglon
Dame Angela Eagle
Tamara Finkelslein
Chair
Chair, Finance & Audit Committee
Resigned 2810912022
Resigned 2110612022
Resigned 1810912022
Appointed 16 March 2023
Appointed 5" Juty 2023
Govemors are appointed for an initial term of 3 years. They may be reappointed for further periods of
3 year8.
Executlve Directors
The Director of the Institute is Dr H8nn8h White. The Dire¢lor is responsible for the day-lo-day running
of the Institute along with a team of Directors and Programme Directors.
Bankers
Barclays Bank
Acorn House
36-38 Park Royal Road
London
NW10 7JA
Registered Auditor
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Principal & Reglstsred Office
2 Carlton Gardens
London
SW1Y SAA
Wobslt•
vMw.instituleforgovernment.org.uk
The Institute for Government is a registered charity INo.11239261 and a company limlted by guarantee
registered in England and Wales INo.6480524}. It was granted an exemption from the requirement to
use the word Limited on 18 January 2008.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
The Governors are pleased lo present their annual directors, report together with the
consolidated financial slalemenls of the charity and rls subsidiary for the year ending 31 March
2023 which are prepared to meet the requirements for a direclors, report and accounts for
Companies House.
The financial statements comply with the Charitles Act 2011, the Companies Act 2006. the
Memorandum and Articles of Association, and Accounting and Reporting by Charttie5".
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland
(FRS 1021 (effective 1 January 20151.
Our purpose8 and a￿1vi￿e8
The InslitLrte for Governmenl {Ihe Institute") is an independent charrty. We work wrth all the
m8in polllical parties in Westminster and wrth senior civil servants in Whitehall. providing
evidence-based advice that draws on besl pradi¢e from around the worfd.
The purposes of the Institute for Government are-
The advancement of ed￿atIOn in the art and sclence of govemment in the UK for the
benefft of the public on a non-party political b8sis, and
The promotion of efficient public administration of govemment and public service in the
UK by providing programmes of education, training, research and study for the public
benefit on a non-paty political basis.
We continue to deliver our vision to increase the effectiveness of government in the UK, by
improving the processes of government. and enhancing the decision making and skills of cwil
servants and polilicians. Our focus is on bringing about long term, sustainable change. with an
emphasis not just on producing proposals but on working lo see them implemented and have
an impact on the way the UK is governed.
Principal actlvltles and achlevements
2022-23 was another exceplionalty busy year for the Institute. It was another year of political
turmoil in Weslminsler as we continued lo focus on the key questions for government
effectiveness. In detail. our work covered:
Civll Servlce - we launched a major Commission on the Centre of Government in
March 2023. due to report in February 2024, to infomi declsions about how the centre
of government should be organised after the general election. Our research
programme continues lo make Ihe case for a new civil service statute, as well as
looking at core civil service reform issues like the interchange of expertise, diversity
and inclusion. how lo make effective efficiency cuts in the civil service and the
Consequences of the Johnson premiership. In January 2023 we published the latest
Whitehall Monitor looking at the overall slate of the civil service.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
Policy maklng- one focus has been on government ￿$l[lence with a report on
managing extreme risks. We have continued our work on nel zero with a succession
of public and private events and research on energy efficiency and net zero and
devolution. We have developed a programme of work to look at chronic policy
problems. starting with t8¢kling obesity, and are looking al policy successes like
offshore wind and samevsex marriage.
Devolutlon - our prlncipal fccus has been research and engagemenl on English
devolution, including the powers, funding and accountability of mayoral combined
aulhorilies, We published reports setting out how metro mayors should be
empowered to help deliver the government's levelling up and nel zero oty-eclivos. We
began a new project on the effective implementation of devolution deals and
produced analysis of the trailblazer deals for Greater Manchester and the Wesl
Midlands. We also engaged in debate on the future of the Union, giving evidence lo
committees of the UK and Scottish parfiaments and private advice to the Independent
Commission on the Constitutional Future of Wales.
Public Finances - we have continued to develop our programme of Work on levelling
up. producing a series of reports and events looking at the set of policies that can
most effectively contribute lo levelling up economic performance and how the
govemment's plans staGk up. We also developed a major piece of work on the role of
the Treasury during the pandemic. We produced Iwo papers examining how
govemment could take a more effective approach to encouraging business
investment and economic growth, and extended our body of work on tax policy
making by examining issues flowing from the abolition of the Office of Tax
Simplification. Alongside this, we a180 analysed 8nd commented on Ihe economic
shocks that hit the UK (energy prices and inflation), the effectiveness of the
government'$ reaction lo these, and Ihe implications of the economic and fiscal
policies adopted by successive governments through the summer and autumn of
2022.
Publlc bodl68 - we published a major report on public appointments In the summer.
We have also conducted a series of projects on the public body life cycle, with a report
published on abolishing public bodies and reports in progress on establishing publi
bodies and on why Ihey should exist. The team has begun to develop a new
programme of work on regulation.
Publlc services in October we published our flagship annual Performance Tracker
publication looking al the performan￿ of nine public services over the previous year,
with an update published in March ahead of the budget. Alongside this, we published
research on adult social care fvnding and financing, analysis of the government's plan
for the NHS, what the autumn statement meant for public servI￿s, lessons from
'austerity' in public services in the 201 Os, the future of school assessments, impact of
local govemment funding cuts on neighbourhood services, and Outcome Delivery
Plans, We also produced case studies on Oak National Academy and the unification
of probation services.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
IfG A¢ademy- we have launched the Academy, bringing together the different
strands of our learning and development work, attracting significant exlernal interest.
We are working on increasing our engagement with academia, develcping a suite of
online resources and new leaming and development programmes, and particularly
how the Institute can use learning and development to maximise tts impact around
the forthcoming general election. As part of this, we are translating our research
materials into learning tools - starting wrth a ￿port on understanding government
budgets published in late 2022.
Mlnisters - we continued working with government ministers and the civil Servants
who work most closety with them to support Ihem to be as effective as possible in
their roles. We also maintained our oommenlary on the question of ethical slandards
in governmenl, putting forward recommendations for how these can be better upheld
and working with other like-minded organisations to build support for changes to the
system,
Constitution - we have continued work on our Review of the UK Constitution in
partnership with the Bennett Institute for Public Policy at the University of Cambridg8,
publishing original research on the legislative process, the govemance of England,
and bodies and individuals with a role in protecting the constilution. We have also
worked with external academics and experts to publish a series of guest papers on
subjects ranging from the House of Lords to party finance and held a series of
roundtables across the UK. We have also been developing recommendations for our
concluding report due in September 2023.
Brexlt- we have continued to analyse the ongoing impact of Brexlt, Including its
ongoing irnplications for Northern Ireland, the UK-EU Windsor Framework agreement
to amend the Nl protocol, and the UK governmenfs approach to post-Brexit
regulation.
Futuro plans 2023-24
In 2023-24 our priorities and work prograrnme will be shaped by preparation for the general
eleclion, due by January 2025 at the latest. As part of this, we will be producing new research
on transitions of govemment and preparing for complex outcomes, alongside brigadlng key
messages from our existing work on civll Servi￿ reform, public service performance,
constitutional refomi and more. As we have done ahead of every planned general election, we
will also be working with the opposition on supporting their preparation for govemment in the
event they win the 8lection.
We will be continuing to focu$ on impact from our existSng work- we started in early 2023 with
conference looking at government in the year ahead and plan a series of special conferences
throughout 2023, for instance on our nel zero and ministers work. We'll be producing several
of our set-piece reports on the slate of govemment.. Performance Tracker and Whitehall
Monitor, continuing with our series of deep dives into particular departments including the
T￿aSury and the Home Office and producing new reports on topics including making the most
of English devolution and prevention in public services.
We'll be entering the nexi phase of our development of the IfG Academy - expanding our
ministerial training and OUT academic training, and focusing more heavity on producing high
quality written products based on our research.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
How our a¢tivities deliver publlc bonefit
In shaping our annual objectives and business plans the Institute has considered the Charity
Commission's guidance on public benefit, including the guidance 'public benefit.. running a
charity {PB2)'.
The Institute produces high-quality research reports, comments and analyses that are
independent of government, political parties, indNidual clients or companies. These are
promoted wideiy and free of charge to individuals. organtsations, practitioners and others with
an active interest in the government of the UK.
Together, these reports and the events arising cut of our work provide a robust evidence b8se
on the govemance of the UK. This helps equip the public, parliament and government itself
wllh knowledge and infomalion on the issues affecting the governing of the UK and the training
of its Current and future ministers.
Our staff are frequentty inviled to discuss the findings of our research on UK and international
radio and television and in print media. In this way our research helps inform the publ￿ debate,
media oullels and individual Gitizens. We have a social media presence on Twitter, Facebook,
Instagram and Linkedln which is free and ac￿sIble to the public.
W& enGourage those with an Inte￿$t in our work to become involved ty lolnlng our mailing
Ilsts and receiving newsletters and being invited lo attend our public events.
Wtth the eslablishmenl of the IfG Academy we hope to share our expertise even more widely
in order lo improve the process of policy-making 81811 levels.
We monitor the impact ofour work very ¢losety and report on it at each meeting to the Board.
We believe that if we can bring about or encourage even only minor improvements in
govemment effectiveness then thls would constitute a significant public gc￿. In fact. we aim
to do much betler than this and are happy lo be able to report a growing Teputation and
influence with a corresponding impact on the thinking of govemment. Inevitably, however,
there remains much scope for our work.
Financial Review
The Instilule's consolidated incorne amounted to £5,740,123 {2022'. £5,399,417) whilst
onsolidaled expenditure amounted lo £5,843.450 12022.. £4,906,946) as shown in the
Statement of Financial Activtties. After transfers to designated funds, Ihe consolidated loss on
all funds was £{103,327).
The charity's trading subsidiary, IFG Enterprises Limited. had income from only a limtted
number of events during the year 85 demand for room hire was h)w in the immediate aftermath
of the pandemic. The company has made a small profil for the year of £5,749. A Board
Resolution of 11th December 2018 mandated the automatic transfer of the IFG Enterprises
Ltd surplus to the Inslilule going fO￿ard and a gift aid transfer of £3,743 Ilhe net overall P&L
position al 31 St MarGh 20231 will be made lo the Institute.
We have returned to more active promotion of the hire of the premises in 2023-24. We will also
be using IFG Enterprises Ltd to invoice all sponsorship and Academy activity going forward,
whether or not it is charltable activity.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
The Institute made an overall loss in 2022-23. If. however. bmo significanl unusual costs are
excluded, it made a considerable operating surplus. This was primarily due to the ex¢eptional
performance of its partnerships team in generating over £1m of financial support for the
research programme from Corporate partners who were increasingly interested in the
Instilule's work in areas such as the effectiveness of public servI￿s, regicsnal devolutlon,
implemenlalion of nel zero and levelling up policy. We also saw an ongoing increase in
bookings from academic institutions for courses to SUPkK)rt early career researchers lo
understand government and make an impaGt on the policy debate.
Against this there were, as noted above, two sunific8nt items whlch caused the Institute to
record an overall deficit for the year. Firstly, the board noted with concern the impact of inflation
on its staff and in November 2022 responded by mandating a one-off payment to stsff, the tol81
cost of which was in excess of £250,000. Second￿, under the terms of the lease, the Crown
Eslale required the Inslilule lo cover the cost of painting the outside of the building. The
painting was completed in December 2022 and provision has been made for the total cost of
thls, although the ftqures are not yet finalised, al just under £200.000.
We continue to monitor the impact of inflation and wtential iecession which represent a
onsider8ble risk to the Institute's financial plans.
Principal funding sources
The Institute's core funder is the Galsby Charitable Foundation. Core funding income from the
Galsby Trusl in 2022-23 was £4,704,15012022.. £4,613,111).
A three-year plan was produced during 2022-23 setting out the research programme the
Institute inlended to undertake lo 2026 along with Ihe associated cost. A funding request was
then submitted lo Ihe Gatsby Trustees asking for their support to deliver the plans. Approval
for funding for the three-year period lo March 2026 was given by the Gatsby Board in February
2023.
In addition to this core funding, the Institute funds ils project work and events by generating
income from a range of corporale and academic funders and trusts. Details on all sources of
funding are provided on the Institute's website. As noted above. it was an exceptionally PDSltive
year for resource generation with the target of £700,000 exceeded by more than 430k and a
slgnificant pipeline of opportunltles in place for 2023-24.
R•$erv•$ poli¢y
Total unrestricted funds decreased to £3,383,152 as at 31 Ma￿h 202312022.. £3,486,479).
There are no restricted reserves (2022: £nil). Fixed assets represent £213,241 (2022..
£128,681) of the unrestricted funds tot81.
The new lease for 2 Carlton Gardens was signed after year end on 4th April 2023 and the legal
obligations under thal lease are not accounted for in the 2022-23 accounts. Designated funds
of £200,000 have been set aside lo provide finanGial security against future significant ontroff
osts associated with 2 Carlton Gardens. In addition. the propety relocation fund of £620,000
has been established with a view to covering the polelltial costs of planning a move and re•
equipping new premises in anticipation of ihe end of the 2023-2026 lease.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
The Govemors have reviewed their reserves Folicy and the financial risks faced by the
organisalion. The Governors, poliw is that the level of reserves, defined as free and
undesrgnated reserves measured by the amount of retained general funds should be at least
six months, operating costs. Current gener81 fund reserves levels are £2.349.911 12021..
£2,537,798) which represent 38% of the planned expenditure of the Institute for 2023-24. It 15
therefore, in principle, the policy of the Institute to continue to build rts reserves. However,
given the impact of inflation, the Board has given its approval for the Institutè to budget to
broadty break even in 2023-24 with small surpluses planned for the final two years of the
urrenl Ihree-year plan {2023-26).
Investment policy
The investment of funds surplus lo day-to-day requlrements Is discussed at the Finance &
Audtt Committee. These fvnds are placed on deposit with large reputable banks with as long
a maturity as is consistent with managing cash flow requirements. Unfortunately retums have
remained low.
Golng Concern
The Institute reported a cash outflow of £127,400) for the year12022: inflow of £666,366>. The
group retained a healthy cash balance of £3,377,528 at 31. March 2023. The Govemors are
of the view that the management has the capactty to react quickly to changing circumstances
and the security of the medium-lemi commitment of the Gatsby Charitable Foundation
provides assurance that the charity is a going GOn￿rn.
Structure. Goveman¢e and Management
Inslitute for Governmenl is a company limited by guarantee governed by its Memorandum of
Assocwtion dated 16 January 2008, and revised Articles of Association adopted by special
resolulion on 21 September 2010. It is reglstered as a charity with the Charity Commission.
The Institute is run by the Board of Governors who are also Members and Directors of the
Company and Trustees of the Charity.
Gov&rnors
The Board met every three month5 during the period covered by the Annual Report to manage
and control the affalrs of the Inslilule. The Governors concem themselves mainty with issues
of a strategic nature, deciding broad policy for the Instrtute and ensuring good governaneé and
compliance. The Institute seeks lo maintain a balance of political, civil service and commercial
experience as well as polrtical affiliation among the members of its Board.
The senior management team undertakes the day-to-day management of the Institute'5
activities wilhin the framework set out by the Govemcrs and comprises th8 Director, the Deputy
Director, the Director of Research. the Director of Finance & Resources, the Chief Economist
and Programme Directors.
The Executive Committee of the toard continued to meet regularty throughout the year. The
Committee is chaired by Lord Sainsbury.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
The Finance and Audit Committee. chaired by Sir lan Cheshire, also met on a quarterly basis
and reviewed the financial performance and all aspects of risk management of the Instriute.
The Remuneration Committee mel Iwice in the year to consider matters relating to recruilment
and retention of staff.
The Articles of Associalion provide for the appoinlmenl and retirement of the Govemors on
three-y8ar terms. During Ihe year Lord Sainsbury. Sir Andrew Cahn, Sir lan Cheshire and Sir
David Lidinglon retired by rotation and were re-appointed for a further temi. There is a
minimum of three governors and there is no upper limit, though nomially the Board will
comprise a maximum of fifteen members.
During the year Dame Angela Eagle joined the Board as did Tamara Finkelstein after year
end.
The Governors put forward and discuss potential new Board members amongst the existing
members. The key principles for appointment are Ihal the Board of Governors should provlde
a balance of experience including from the civil service, private sector, the academic sector
and also from the major poliliGal parties. The Board should ahvays be balanced in terms of
direct political affiliation to ensure its non-partisan position.
There is no specific training or induclion for new governors as they have been selected based
upon their experience and interest in th6 objectives of the Institute.
None of the Governors receive remuneration or other benefil from their work with the charity
though they may be paid reasonable travel. hotel and other expenses that they incur in
onnection with their attendance at Instttute rneelin9s. All Governors must declare the nature
and extent of any interest, direct or indirect, they may have in any proposed transaction of the
charity and they will not participate in any discussions orvotes on such matters. The Governors
must also declare any conflicts of interest that may arise. Any connection between a governor
or senior manager with a stakeholder Icuslomer, supplier. sponsor, funder, government
department. political party) of the charity musl be disclosed in Ihe same way as any other
contractual relationship with a related party-
The Institute has utilised the governance cc¥Je for charities lo assess compliance with the
principles of the code and identify any measures required to Improve its govemance standards
and overall effectiveness as an organisalion.
Risk Management
The day-to-day task of managing risk is devolved to senior management though the Governors
retain overall responsibility for risk management. Reporting of significant risks, how these are
managed and mitigated forms part of the regular reporting by senior managgment to the
Governors at board and other sub-committee meetings.
The Institute maintains a risk register in which current risks are reviewed in the context of the
internal and external environment, along with their probability and impad. The focus in this risk
register is on the most material risks facing the Institute., risks which if realised could have
seiious consequences for all or some of our stakeholders and threaten the future viability of
the Institute.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
The most signif￿ant risks facing the Institute and the ones that infom our reserves policy are
the reliance on Gatsby funding and the length of the lease and potential liabilities relaling 10 2
Carlton Gardens. Assurances of continuing support have been sought by the Board from the
Galsby Foundation and a commitment covering the period up to and including 202>26 has
been received. The wtenlial liabilities relating to 2 Carlton Gardens have been mitigated by
selling aside adequate designated ieserves.
During the year the Institute's systems became cloud-based and there was increased attention
to cyber-security, ensuring that the Inslilule's systems were fit for purF)ose and secure. Cyber
Essentials accreditation has been mainlained.
Trading subsidlary
The Institute has a wholly owned subsidiary, IFG Enterprises Limited, which undertakes
commercial activities on behalf of the charty. The activities of IFG Enterprises Limited in 2022-
23 were limited to room and building hire. All profits of IFG Enterprises Limited are gift aided
lo the Inslitute for Govemment.
The Institute does not raise funds from the public and considers that it has appropriate
standards and controls in place in its fundraising work with corporate and institutional clients
to ensure that it adheres to the Code of Fundraising Practice. The Inslrtute takes great ¢are to
ensure that its work is not influenced by fundraising activities and all funders and their
contributions to the Institute are disclosed on the website.
Pay pollcy for senlor staff
The Board of Governors. who are the Instilule's trustees and members of the senior
management team comprise the key management personnel of the charity in charge of
directing and controlling, running and operating the Instr(ute on a day-to day basis. All board
members give of their lime freety and no governor received remuneration in the year. There
W8s one small item of governor expenses during the year.
The Instltute for Govemment's policy on pay Is that it should be based on merit and that it
should reward perfomance. The Instllute has a formally constiluled board sulKommittee to
address remuneration issues. This meets on a regular basis throughout the year. Its remit 18
to consider the b8sis on which pay decisions are made and lo ensure they are in line with the
Institute's mission and recruitment and retention strategy. It also reviews senior pay
decisions and advises the Board on the remuneration of Ihe Director.
Pay decisions are based on merit and. where appropriate for technical and specialist roles,
market rates. The Instilule considers each year, according lo ¢ir¢um51an¢e$, whether lo
apply a cost of living adjustment to salaries. The Institute's approach lo pay is to balance the
need to attract, relain and molivale approprialety skilled individuals able lo deliver the
necessary impact with the financial considerations of being a charity.
Auditor
Crowe U.K. LLP has indicated its willingness lo be reappointed as stalulory auditor.
A resolulion proposing the appoinlmenl of Crowe U.K. LLP as auditors of the Charity for the
year to 31 March 2024 will be put lo the Annual General Meeting.
10

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2023
Statement of Governors, responsibilities
The Governors {who are also directors of the Institute for Government for the purposes of
company lawl are responsible for preparing the Governors, Annual Report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards
{United Kingdom Generalty Accepled Accounting Practice).
Company law requires the chatrty trustees to prepare financial statements for each year which
give a true and fair view of the state of affairs of the charttable company and the group and of
the incoming resources and application of resources, including the income and expenditure,
of the charitable group for that period. In preparing the financial slalements, the Iruslees are
required lo..
select suitable accounting policies and then apply them consistenlty;
observe Ihe methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK accounting standards h8ve been followed, subject to any
material departures disclosed and explained in Ihe financial statements.,
prepare the financial statements on the going concem basis unless it is inappropriate
to presume that the charity will Gonlinue in business.
The Governors are responsible for keeping proper accounting records that disclose wtth
reasonable accuracy at any time the financial position of the charity and lo enable them to
ensure that the financi81 statemenls comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and the group and hence taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The Govemois are responsible for the mainlenanrk and integrity of the corFrf)rate and financial
information included on the charitable company's website. Legislation in the United Kingdom
goveming the preparation and disseminalion of financial slalem6nls may differ from legislation
in other jurisdictions.
Statement as to disclosure to our auditors
In so far as each of the Governors is aware al the time of approving our Governors, annual
report:
there is no relevant information. being information needed by the auditor in connection
with preparing their report, of which the group's audttor is unaware. and
each of the Governors, having made enquiries of fellow Governors that h81she ought
to have individualty made, has tsken all steps thal helshe is obliged lo take as a director
in order lo make himlherself aware of any relevant audrt information and to establish
Ihal the audhor is aware of that information.
By order of the board of trustees
Lord Sainsbury of Turville (Chairl
5 October 2023
11

Indapandent Auditor's Report to the Members of the Institute for Governmont
Oplnlon
We have audited the financial statements of Institute for Govemment {'Ihe charitable
company'} and its subsidiaries {'Ihe group,) for the year ended 31 March 2023 which comprise
Consolidated Stalernent of Financial Aclivrties, Charty and Group Balance Sheets,
Consolidated Slalemenl of Cash Flows and notes to the financial gtatements, including
significant accounting polieies. The financial reporting framework that has been applied in their
preparation is applicable law and United lQngdom Aecounling Standards, in¢luding Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic
of Ireland (United Kingdom Generally Accepted Accounting Practi¢el.
In our opinion the financial statements..
give a true and fair view of the stste of the group's and the charitable company's affairs as al 31
March 2023 and of the gioup'8 income and expenditure, for the year then ended.,
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Bajls for oplnlon
We conducted our audit in accordance with Inlemalional St8ndards on Auditing IUKI IISAS
IUKII and applicable law. Our responsibilities under those standards 8re fvrther described in
the Audrtorfs responsibilities for the audit of the financial statements section of our ￿Port. We
are independent of the group in accordance with the ethical requirements that are relevant lo
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 wilh these rèquirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Conclusions rglating to going concern
In auditing the financial stalements, we have concluded that the truslee'$ 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 rnaterial uncertainties
relaling to events or conditions that, indniidually or collectively, may cast signrficanl doubt on
the charitable company's or the group's ability lo continue as a going concern for a period of
at least twelve months from when the financial statements are aulhorised for ￿SUe.
Our responsibilities and the responsibilities of ihe Iruslee8 With respect to going concem are
d8scribed in the relevant sections of this report.
Other Infomiatlon
The trustees are responsible for the other Infom)ation contained within the annual report. The
other information comprises the information included in the annual report, other than the
financial statements and our auditor's report Ihereon. Our opinion on the financial statements
does not cover the other information and, except lo the extent otherwise explicitly staled in our
report, we do nol express any fomi of assurance conclusion thereon.
Our responsibilty is to read the other information and, in doing so, consider whether the other
infomation is materialty inconsistent with the financial stalemenls or our knowledg6 obtained
in the audil or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this
gives rise to a material misstatement in the financial statemenls themselves. If, based on the
work we have performed, we conclude that there is a material misslalement of this other
information, we are required to report that f*.
We have nolhing to report in Ihis regard.
12

Oplnlons on oth•r mattors pr8¥¢ribed by the Companios Act 2006
In our opinion based on the work undertaken in the course of our audit
the informalM)n given in the trustees, rtrport, wh￿h includes the directors, report prepared for the
purposes of company law, for the fi'nancial year for which the financial statements are prepared is
Dnsistenl ￿￿th the financlal statements., and
the directors. report included wlhin the trustees, report have been prepa￿￿ in accordance with
applicable legal requirements.
Mattern on vthich we are requlred to report by exception
In light of the knowledge and understanding of the group and charitable company and their
environment obtained in the course of the audit, we have not identified material misstatements
in the directors, report included within the trustees, report.
We have nothing lo report in respBct of the following matters in relation towhlch the Companies
Act 2006 requires us to report to you if, in our oplnion:
adequate and proper accounting records have not been kept.. or
the financlal statements are not in agreement with the accounfjng records and retums,. or
certain disclosures of Iruslees, remunerauon $pe¢ifie(I by law arg not made; or
we have not received all the Infomation and explanations we require for our audit., or
the Iruslees were not entf(led to prepare the financial statements in accordance wlh the small
¢ompanies regime and take advantage of the sm811 companies, exemptions in preparing the
trustees, dire¢lorg' report and from the requlrement to prepare a slrateglc report.
R•sponslblllties of trustses
As explained more fijlly in the Irustees. responsibilities slatement Iset out on page 131. the
trustees {who are also the directors of the charitable company for the purposes of company
lawl are responsible for the preparation of Ihe financial slalemenls and for being satisfied that
Ihey 9ive a true and fair view, and for such internal control as the Iruslees detemiine is
necessary lo enable the preparation of financial slalements that are free fiom material
misstatement, whether due to fraud or error.
In preparing the financial slatemenls, the trnstees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, 85 applicable, matlers related lo
going concem and using the going concem basis of accounting unless the trustees either
intend to liquidate the charitable company or to cease operations, or have no reali$li¢
alternative but to do so.
Auditovs rnspon8lbllitl•$ for the audlt of Ihe financlal $tatgmonts
our objectives are to obtain reasonable assurance about whether the financial statements as
whole are free from material misstalement, whether due lo fraud or error, and to issue an
auditols report that includes our opinion. Reasonable assurance is a high level of assurance,
but is nol a guarantee that an audit conducted in accordance with ISAS IUKI will always detect
a material misslalement when it exists. Misslalements can arise from fraud or error and are
nsidered material if, individually or in Ihe aggregate, they could reasonably be expected lo
influence the economic decisions of users taken on Ihe basis of these financi81 st8tements.
Details of the extent lo which the audit was considered capable of detecting irregulartties.
including fraud and non-compliance with laws and regulations a￿ sel out below.
A further description of our responsibilities for the audit of the financial statements is located
on the Financial Reporting Council's website at..
.or
This
description fomis part of our auditorfs report.
Extent to ￿lch the audit was considered ¢apable of detecting irregularities. including fraud
Irregularities, including fraud, are instances of non-compliance wilh laws and regulations. We
Klentified and assessed the risk8 of material misstalemenl of the financial slalements from
irregularrties, whether due to fraud or error, and discussed these between our audit team
members. We then designed and perfomied audit procedures responsive to those risks.
including obtaining audit evidence sufficient and appropriale to provide a basis for our opinion.
13


Date: 6th October 2023 

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006 



INSTITUTE FOR GOVERNMENT
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2023
Unrestricted
Genefal Fund
Designated
Funds
Note¥
Restriettd
FurKIs
Z023
Totsl Funds
2022
Total Funds
Income from..
Charitable actr'vities
Other tr8din9 activities
Invesbnènts
Other
Totsl
5,706,271
13.505
8,347
12,OCO
5,740,123
5.706,271
13,505
8,347
12.000
5.740,123
5.355,103
3(KJ
302
43,712
5,399,417
Expendlture on:
Raising funds
Charftable actNities
Totsl
7,894
5.766.892
5,774,786
7.894
5,835.556
5,843,450
660
4,9C6.286
4,906,946
68,6S4
68,664
Net Ineorn¢Ilgxpendl￿rQl
Tr•nsf•rs bètween funds
N•t Movement In fund$
RfrconClll¥￿on of lunds:
TDtal funds brought
forward
Totsl funds carrhd
forward
134,6631
1153,2241
1187,8871
168.6641
153,224
84,560
1103,3271
492,471
18
1103.3271
492,471
2,537,798
948,681
3A88,479
2.994.(K)8
2,349,911
1.033,241
3,383,162
3.486,479
The $t*•rnent of financial act￿￿￿9 IncI￿Je9 811 gain5 and kJs8e8 recc9ni8ed in the year. and expendrture derive
from Cofflinuing acfyvrtie8.
The amount of £68.664 allocated to d88ign8led lunds12022'. £56,0911 represents Ihe depret181ion ¢h8r9e while transfers
be￿een funds a￿ 8dditlon$ to fixed 9889ts (see a180 Notes 12 & 13 on page 241.
15

INSTITUTE FOR GOVERNMENT
CHARITY AND GROUP BALANCE SHEETS
AS AT 31 MARCH 2023
Nots8
Group
2023
Charlty
2023
2012
2022
Flx•d Assets
Tangible fixed assets
Intangible fixed assets
Irweslments
12
13
14
99,459
113,782
75,941
52,740
99,459
113,782
100
213.341
75,941
52,740
100
128.781
213.241
128.681
Curront Assots
Debtors
Cash at bank
410,879
447,503
3.377.528 3.549.805
3,788.407 3.997,308
510,484
538,351
3,275.244 3.460.883
3,785.728 3,999,234
Curr9nl Llabllltlo8
Credilor$.' amounts falling
due within one year
16
618.496
839.510
615.917
639,530
Net Current Assets
3,169.911 3,357,798
3.169,811
3.359.704
Total
assets
current Ilabllities
Total Net Assets
less
3,383.152 3.486.479
3,383,1S2 3,488,485
3 383.152 3.486.479
3,383.152 3,488,485
Tho funds Oft￿ charity:
Unr•8trlcted Funds
General Fund
Oesignated Funds
19
2,349,911 2,537,798
1,033,241
948,681
3.383,152 3.486.479
2,349.911
2,539,804
1,033.241
948,681
3,383,152 3,488.485
Company number 6480524
The profillloss for the financial year dealt wth in the financial statements of the pargnt company wa
£1105,333112022'. £492,831).
The govemor8 have preparod group accounts in accoidance wlh section 398 ofthe Companies Act 2006
and section 138 of the Charitie$ Act 2011. These accounts are p￿pared in accDrdance wlh the special
provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accoun15
required by the Comp8nles Act 2006 and are for clrculation to members of the company.
Lord Sainsbury ol Turvil
Chalr of Board of Govemors on behall of the govemors
Approved and authorised for Issue by the Governors on 5 October 2023
16

INSTITUTE FOR GOVERNMENT
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE
YEAR ENDING 31 MARCH 2023
Group
2023
2022
Cash flows from oporatlng actlvitios-.
Net cash provided byllused in} operating activitie8
(27,400)
666.366
Cash flo￿ from Investing acllvltlo$:
Interest income
Puicha8e of tangible fixed assets
8.347
(153,224}
302
1104,7191
Net Ca$h us8d in Inv•8tlng a¢tlvltle$
1144,8771
1104A17)
Change in cash and cash equivalonls In the reporting period
{172,2771
561,949
Cash and cash ¢qulvalents atthe beginning of the r•porting p•rlad
3 S49 805
2 987 856
Total Cash and cash gquival8nts at thg end of the reportlng porlod
3 377 528
3.549.805
RECONCILIATION OF NET MOVEMEMT IN FUNDS TO Ngf CASH FLOW FROM OPERATING ACTIVITIES
Group
2023
2022
Ngt Incomel(expendlturel for the reporting perlod
Adlu$tments for..
Depreciation charge
Interest income
{IncreasellDecrease In debtors
Increasel{Decreasel in credrtors
1103,3271
492,471
68,664
18,3471
36,624
21.014
56,091
13021
{22,684)
140 790
Net cash provld8d by oporatlng a¢tlvlti
666 366
17

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
Bas18 of preparatbon
The financial slateronts have been prepared in accordance with Accounting and Reporting by Charities..
Slalemenl of Recommended Practice applicable to charit￿5 preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1
January 20151- (Charities SORP IFRS 10211. the Financial Reporting Stsndard applicable in the UK
and Republlc of Ireland IFRS 10218nd the Companies Act 2006.
Institutè for Government meets the definition of a public benefft entity under FRS 102. Assets and
Ilabilities are inlllally wognised at historical cost or Iransacts'on value unless otherwise stalod in the
relevant accounting policy nolelsl.
Preparntlon of the accounts on a going concam b8$19
The Governors having assessed the charity's fi'nancial posttion, its plans for the foreseeable fvture, the
risks to which il is exposed and fofecasl projeclions are satisfied that rt remains appropriate to prepare
the finan¢ial Statements on the going concern basis. Further delalls ¢)n the Inslilule's going concem
as8essmenl are provided in the Governors, Annual Report on page 8.
Critical accountlng Judgements and 05timato uncortalnty
In the application of the charity's accounting policies. which are described in this r￿e. Govemors are
required lo make judgements. estimate8 and assumptions about the carrying value5 of assets and
liabilities that are not readily apparent from other sources. The estimates and underfying a55umptions
are based on historical experience and other factors that are considered to be relevant. Actual results
may differ from these eslimales. The estimates and underlying assumplitsns are reviewed on an on-going
basis. Rev18ions to 8ccounling eslimales are recognised in the period in whieh the estimate is revised if
the revislon affects only that period, or in the period of the revision and future periods. The 2023-26 lease
on 2 Carlton Gardens was signed after year end so there We￿ no related legal Dbligalions al year end.
All fijture obligations under that lease wll be reassessed and provided for as necessary over the lrfe of
the lease. The GOverr￿r8 are of the vlew that there are no assumptions conceming the fiJl(Jre or
estimation8 of u￿rtainlY affecting assets and liabilities at the balance sheet date which are likely to
re5uII in a material adjuslmenl lo their carrying amounts in the next ffinancial year.
dl
Group financlal statsments
In accordan¢e wilh the requirements of SORP 2015 the ftnanclal stslements consolidate the resuR8 of
the charity and its wholly owned subsidiary IFG Enterprises Llmbled on a line•by-line basis. The results
of IFG EnlerpYise8 Limited are shown In Note 5.
Incomg
Income from any source including grants 1$ Tecognised when the charty has entitlement lo the funds,
any performance conditions attaching lo the itemlsl of income have been met, il is probable that the
i￿ome will recelved and the amount can be measured feliably and 18 not deferred.
Our principal source of Income. from the Gatsby Charitable Trust, is given as an annual grant towards
our general operating costs. The grant is therefore recognised evenly across each financi81 year. For
other grants and income for specific prolecls and events series, income Is recognlsed ￿en any
performance criteria have been mel and wrth regard to the length of the project being funded or the
number and liming of events in a funded series.
Income recelved in advance for any event, project or room hire or provl8ion of other speclfied servlce Is
deferred until the criteria for income recognition are met including when an event actually takes place or,
where a proje¢l runs across financial years. wlth regard to ￿$1)UrCe inputs Into a project or specthc
deliverable or performance criteria.
18

INSTITUTE FOR GOVERNMENT
NOTESTO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
Fund accounting
Unre51ricled funds are available lo Spend on actsvilieg that further any of the purposes of the charity.
Designated lunds are unrestricted funds of the Charity ￿lch the Governors have decided al their
discretion lo sel aside lo use for a Specific purpose. Rostricted funds are donations vA)ich the donor has
specifi'ed are ID be solety used for p8rti¢ular areas of the Institirte's work or for specific projects being
undertaken by the In51ilule.
gi
Expendlture and Irrecoverablo VAT
Expenditure 1$ r￿gnISed once there 13 a legal or constructive obligation to make a payrnènt to a third
paty, il Is probable that settlement wll b• wquired and the amount of the obligation can be m¢asured
rellably. Expenditure Is classiwed under the following activity headlngs..
Costs of raislng funds comprise Ihg costs of cornmercial trading by the subsldiary and thelr assoaated
support costs.,
• Expenditure on charitable a¢lwth'es includes the costs of events. projects and research and other
activities undertaken lo further the purposes of the charity and their associated support costs.,
• Other expendrture represents those items not falling into any other heading.
Irrecoverable VAT is charged as a c081 against the activlty for whioh the expendfture was incurred.
h)
Allocatlon of Support ¢¢Y4t8
Support Gosls are those functions that as8lSt the work of the charity bul do not directly undertake
charitable activities. Support costs include back office costs, finance, personnel. payroll and governance
costs vthich support the Institute's projects and a¢liviliès. These costs have been allocated between cost
of ralslng funds and expendf(ure on charitable activities. The bases on whiGh Support costs have been
allocaletj are Sel gut in Note 8,
Tanglble flxed a88ets
Individual fixed assets costing £500 or more are recognlsed al cost and are deprec181ed over thelr
eslimaled useful economic lives on a slraight-line basis as follows..
As8Ot category
Lung leasehold buildingfimprovements
Office equipment
Furniture & fillings
Annu81 rate
Based on lenn of leaseleslimaled lease extenslon
33%
20%
Intangibla fixed assets
The Institute launched a new web8lte during the year. Ils cost wll be amortlsed ovef its estimated useful
economic lrfe of three years on a straighl.line basi$.
kl
Financial instrum•nts
Institute for Government has financial liabilrties of a kind that qualify as basio financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at
amortised cost using the effective interest method. Financial asse15 held al amortised cost comprise
¢88h and bank in hand together with trade and other debtors and accrued income. Financial liabilitias
held at amortised cost comprise trade creditors, other ¢redilc>rs and accruals.
19

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
Dobtors
Trade and other debtors are recognised at the settlement amount due after any trade discount Offe￿d.
ml Cash at bank and in hand
Cash at bank and cash In hand Includes cash and short term highly liquid investmen15 with a short
maturity of three months or ￿$S from the date of acquisition or opening of the depo*t or similar account.
Credltors and provl8lon$
Credllors and provisions are recognised where the charty has a present obligation resul￿ng from a past
event th81 wll probabty result in the transfer of fvnés lo a third party and the amount due to settle the
obllgation can be measured or estimated reliably.
Pen8ion$
The Charity has a money wrchase scheme for qualifying employees. Pension co818 charged to the
Statement of Financlal Activities represent Ihe contributions payable by the Charity in the period.
LEGAL STATUS OF THE INSTITUTE
The Instllute Ss 2 eompany limited by gLJarantee incorporated in England & Wales and has no sharg
Cap￿1. In the event of the charrty being wound up. the liability in respect of the guarantee is limited lo
£1 per member of the charity. The Inslilute's rpg15tered offirR address is 2 Carfton Gardens, London.
SW1Y SAA.
FINANCIAL PERFORMANCE OF THE CHARITY
The consolidaled slalement of financial activities include3 the re$ult5 Qf the charty's wholly owned
subsidiary which undertakes commercial activities including room hire on behalf of the Charity. The
surnmary flnanclal performance of the charity alone is..
2023
2022
Income
Gift aid from subsidiary company
5,726.480
3,743
5,399,117
5.730,223
5.399.117
Expenditure on raisin9 funds and charitsble activities
5,835,558
4,906,286
Net Income
1105,333)
492,831
Totsl funds brought lorward
3,488,485
2,995,654
Total funds carried forward
3383,152
3.488,485
Represented by.,
Designated unrestricted income funds
General unrestricled income fvnds
2,349,911
1,033,241
3.383,152
948,681
2.539,804
3,488,485
20

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
INCOME FROM CHARITABLE ACTIVITIES
2023
2022
Grant from Gatsby Charitable Foundation
Project and event sponsorship income
Learning and development courses
Olher income from charitable activities
4.704,150
770,659
231,348
114
5 706,271
4,613.111
575,159
166.522
311
5,355 103
The Galsby Charitable Foundation continues lo provide an annual inftation adjustsd general
purposes grant towards the oore operational co815 of the In5b'lute. This grant is formally committed
until March 2026.
INCOME EARNED FROM OTHER ACTIVITIES
The wholly owned trading subsldiary IFG Enterprises Limited is InGorporaled in the United
Kingdom (company number 072402421 and pays all of rts profits lo the charity under the grfi aid
scheme. IFG Enlerproses Limited continues to manage the commercial actNilies of the Institute
for Government, principally r¢￿M hire and other event management. Financial statements for Ihe
company's financkgl year lo 31 March 2023 have been prepared. A summary of the results is
shown below.
The summary financial perfomiance of the subsidiary alone is..
2023
2022
Tumover
Interest Income
Cost of sales and administrative costs
Net profit
13,505
138
300
680
13601
5.749
Retained earnings brought fowrd
Amount gift aided lo the charity
Retained earnings carried forward
{2.0061
11,646)
There 18 a management fee of £7,297 payable tothe parent company included in the resutts atove
{2022.' nil) relating lo the cost of sales of events held by IFG Enterprises Limited.
A8 at 31 March 2023, IFG Enterprises Limited had tolal assets of £104,58012021.. £8B.9421 and
total Ilabilltle8 of £104,48012021.. £90.8981.
OTHER INCOME
Other Income includes £12.000 12022.. £43,712) which represents recharge3 for the use of
facilities al 2 Carlton Gardens by the Publio Chairs Fowm including ulilrties and Dther seNice c0818
incurred by the Institute in respect of the whole building and is unrestricted general fund In¢om&.
21

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
A5 in previous years there is no simple di8tinctlon befvleen Research and Leaming & Development
a5 identifiably different charitable actNilies. As such expenditure on charitable activrties is not
8egmenled. The expenditure on our charitable work is analysed below.
2023
2022
Stsff salaries and other staff related costs
Premises and other building related costs
Events and Stsff Catering
Transcription and other research costs
Office supplies
IT costs
Depreciation
Finance costs including bank charge¥
Websf(e and media costs
Irrecoverable VAT
Govemance ¢osl8
Support costs
3.693,991 3,257,467
895,600
675.950
370,266
145,187
6,963
15,830
12.088
6,520
67,137
83,213
68.664
56,091
2,244
1.768
118,330
158.697
134,920
84,575
39,173
44,282
426,180
376,706
Totsl
5,835,556 4,906,286
ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
The Institute Inltlally l¢Jentifies the costs of its Support functions. 11 then identifies those costs which
relate lo the govemance functh)n. The table below gives analysis of 8UPPOrt and govemance costs
Including the basis on which these are calculated.
Genernl
support
Governanc•
Totsl
2022
Basls of calculatitrn
Staff costs
314,415
15.923 330,338 300,867
Support functlon staff
tlme spent on support
function ath'vits'es
Buildlng costs
95,548
95,548
92,175
Support fvnction 8taff as
pr¢¥)ortion of FTE stsff
Audit and
accounlanGy fees:
Audit
Tax advisory
21,750
1,500
21.750
1,500
17.596
7,230
Governance
Govemance
Legal and
professional fee5
16,217
16,217
3,120
Govemance
Total
426,180
39 173 465 353 420.988
The total paid lo the charity's aLvJilors was £21,250, of which £20.750 is included in this not? and £500 in
raising fvnds.
22

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
ANALYSIS OF STAFF COSTS. TRUSTEE REMUNERATION AND EXPENSES AMD THE COST OF
KEY MANAGEMENT PERSONNEL
The aggregate payroll costs were as follows-
2023
2022
Salaries and wage$
Soclal security c08ts
Pen$ion costs
Other ¢osls
2,88S,854 2.662,696
350,707
277,541
541.671
371,473
9.801
7,859
3,788,033 3.319,569
During the year there were no redundancy or termination paymenls12021.' £nill.
The number of staff wth emoluments greater than £60,000 was..
2023
2022
£60,000- £69.999
£70,000- £79,999
£80,000- £89,999
£90,000- £99,999
£100,000 - £109,999
£110,000 £119,999
£120.000- £129.999
£130.000 - £139,999
£170.000- £179,999
£280.000- £289,999
Penslon costs are allocated lo acllvib'es In proportion to the relatsd staffing costs incurred and are wholly charged
to unrestrfcted fvnds. The banding dI8closures are the gross pay of higher paid stsff nel of penslon and charitsble
glving salary exchange, which may have the effect of moving the individual to a lower emoluments band.
The charity trustees were not pald nor dit1 they fe¢elve any other benefits from employment with the chadty or
¥ubsidiary in the year12022'. £nill. There wa$ one payment of £50.57 made for expenses during the year12022:
£nill. No charity trustee received payment for professional or other services supplied lo the charity12022.. £nill.
Durlng 2022-23. the key management personnel of the pa¥ent charity comprised the Iruslees, the Director,
Deputy Director, Dlreclor of Research, Director of Finance & Resources, Director of Partnerships, Director ol
CommuniGalion$ and Marketing, Programme Directors and Chief Economist of the Institute for Govemment.
The total employee benefits of the key management personnel of the charity were £1,399,246 12022..
È1,248.9081. The key management personnel of the group are the same as those of the Chartty.
10. STAFF NUM8ERS
The average number of persons employed by Institute of Government whether on a fvll lime or part time basls
during the period, an81ysed by category. was as foll(Iws'.
2023
No.
2022
No.
Research, Learning and Development
Office, management and seNice$
35
16
17
23

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
11. CORPORATION TAXATION
The Charity is polenlially exempl from laxalion in respect of Income or capital gains received wthin categories
covered ljy Chapter 3 Part 11 Corporation Tax Act 2010 or Sectlon 256 of the Taxation of Chargea￿& Gains
Act 1992, to the extent that such income or gains are applied exclusively to charItab￿ purposes.
12. TANGIBLE FIXED ASSETS
Group and Charfty
Cost
Leasehold
Improvomgnls
Offlce
Equipmont
Fumltur8 &
Flttlngs
Total
Balance brought forward 1 April 2022
Addlllons
Transfer lo Intangible Assets
Disposals
2,857,211
625,861
63,724
425,511 3,90B.583
17,805
81,529
Balance carried forward a131 March 2023
2857211
689.585
443 316 3.990,112
Dapro¢18tlon
Balance brought forward al 1 April 2022
Charge for the period
DIspD8a18
2,857.211
566,094
45.162
409.337 3,832,642
12,849
58.011
Balance carrled foThvard 31 March 2023
2857211
422.186 3.890 653
Not b¢¢k value at 31 March 2023
Nel book value at 1 April 2022
59,767
75,941
13. INTANGIBLE FIXED ASSETS
Assots undor
Constructlon
Intanglbl•
A$sots
Total
Cost
Balance bmught foN4ard at 1 April 2022
Additions
52,740
71,695
52,740
71.695
Transfers
124435
124.435
Balance carrled foNard at 31 March 2023
124,435
124,435
Amortlsallon
Balance brought forward al 1 April 2022
Charge for the period
Disposals
10,653
10.653
Balance carried fO￿ard 31 March 2023
10.653
Net book value at 31 March 2023
113782
113 782
Net book value al 1 April 2022
52,740
52,740
The Institute launched r(8 new websrte In January 2023.
24

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
14.
INVESTMENTS
harfty
2023
2022
Investment in subsidiaries
100
100
The charty holds 100 shares of £1 each in its wholty owned trading 8ubsidiary company IFG Enterprises
Limiied which is incorporated in the Unlt$d Kingdom. These are the only shares allotted. called up and fully
pald. The activities and results of Ihls company are summarised in Note 5.
15.
DEBTORS
Group
2023
Charlty
2023
2022
2022
Trade debtor8
Other debtors
Amounts owèd by subsidiary
Prepayments and accrued income
267.425
2,820
202,947
3,928
265.128
2,820
101,902
140,634
202,947
3,928
90,848
240,62B
140.634
240,628
410,879
447,503
510.484
638,351
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2023
Charlty
2023
2022
2022
Trade creditors
Accruals and deferred income
Other tsxalion and social s¥urty
Other creditors
138,407
385,682
84,723
9.704
156,809
382,025
90,396
10,280
138.407
385,662
82.144
9.704
156,809
382,025
90,418
10,280
618,496
639,510
615.917
639.530
17.
DEFERRED INCOME
Group
Charfty
2023
2023
2022
2022
Deferred Income at 1 April 2022
Resources deferred during the year
Amounts released from previous periods
114,288
119,308
111788
162,148
108.880
156740
114,288
119.308
111788
162,148
108,880
156740
121,808
114.288
121.808
114.288
25

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
18. ANALYSIS OF CHARITABLE FUNDS
Analys1$ of movements In unrestrlctsd and re¥tri¢tsd lunds 2022-23
Balanco
Incomo
Expendltur•
Transfers
Balance
1 Aprfl 2022
31 March 2023
Unrostrl¢tsd Income
Fund6
Gen8ral funds
2.537,796
5,740.123
15,774,7861
(153.224}
2,349,911
Deslgnatsd Fundg
Fixed as$el fund
Propety TrloGalion
fund
Capital and
maintenance fund
128.681
620,000
168,6641
153,224
213,241
620,000
200,000
200,000
RestrScted Fund$
TOTAL FUNDS
3.486,479
5,740,123
5.843.450
3,383 152
Analysis of movem￿ts In unrestricted and restrlcted funds 2021-22
Balan¢e
Income
Expenditure
Trnn$fer5
Balan¢•
1 Aprll 2021
31 March 2022
UnroStrlct•d Income
Funds
General funds
2,093.955
5.399,417
14,850,855)
1104,719)
2.537,798
Deslgnatèd Funds
Fixed a33et fvnd
Property relocation
fund
Capital and
maintenance fund
80,053
620,000
158,091)
104,719
128,681
620,000
200,000
200,000
R•Btrict8d Funds
TOTAL FUND8
2 994 008
5399417
4 906 946
3 486 479
The fi'xed asset fund represents fL4nds set aside equivalent to the nel book value of the fixed as¥els of the
organisalion. The fixed assets are depreciated over time and therefore 11 Is appropriate lo puk fijnds aside
covering the reduction in economic value ofthe Insb'tule's fixed as$¥ts.
The property relocation fund represents a round Sum estimate of the repla￿ment cost of office equipment and
fixtures and fittings in Ihe event of an office move al the end of the lease at 2 Carlton Gardens.
The capitsl and malnlenance fund represents funds pul aside lo cover futu￿ costs in relats'on to 2 Carlton
Gardens which, by their nature. Gan be both large and unpredlclable In liming.
The 2023-26 lease for Carfton Garden was ￿gned after year end, Where il imposes legal obligations, provislon
11 be made over the lif9 of the lease to coverlhem. The need for designated funds will be assessed accordingly.
26

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
19.
ANALYSIS OF GROUP NET ASSETS 8ETWEEN FUNDS
Unrestrlctsd
Re$tsictod
Group
total
fund•
funds
Gon•ral
Deslgnated
funds
Fund balances at 31 March 2023
aro reprosented by:
Tangible fixed assets
213,241
213,241
Current assets
2,968.407
820,000
3,788.407
Curient Ilabililie8
618.496
618.496
2,349,911
1,033,241
3,383,152
Unrestricted
R•strict•d
Group
totsl
funds
funds
Gen•ral
De$lgnat•d
funds
Fund balanG98 at 31 March 2022
ar• r•prgs•nt•d by-
128,681
128,681
Tangible fixed assets
3.177.308
820,000
3,997,308
Current assets
1639.5101
(639,5101
Current Ilabi1S1ies
2,537,79B
948,681
3,486,479
27

INSTITUTE FOR GOVERNMENT
NOTES TOTHE ACCOUNTS
YEAR ENDED 31 MARCH 2023
20. OPERATING LEASE COMMITMENTS
Al 31 Ma￿h 2023, the charity had the foll￿n9 total operallng lèase commltmenl5.'
Group
2023
Charlty
2023
2022
2022
Operating lease comM￿entS due..
Not later than one year
Later than one year and not later than
five years
5,315
485,000
5,315
485,000
The above commitments represent the charge for an operating lease on 2 Carfton Garden8. The lease with rent
get al £485,00 expired on 4th April 2023.
A Ihree•year lease WTth rent sel al £600,000 was slgned after year end on 41h April 2023. Thls has been treated
as a post balan¢e sheet event.
The Charfty has Sel aside £2C>Ok as a designated fund for any malntenance and reinslalemenl costs which
may be needed during the remainder of ils lease al Carlton Gardens. ￿eTe the 2023-26 imposes legal
obllgations, provislon will be made for the estimated cost over the life of the lease.
21. RELATED PARTY TRANSACTIOMS
The charity does undertake transactions wrth it3 wholly ovmed subsKliary IFG Enterprises Limited in the nomial
course of business. For 2022-23 there was a recharge of £7,297 to IFG Enterprises Lirnited12022.. £nill for the
costs Sncurred by the Inslilule in supporting the external hire business of IFG Enterprises Ltd. When there are
malning profits from its business they are gift aided by IFG Enterprises Limited tg the Inslilute foi 2022.23 this
amount wll be £3,74312022.. £nS1). There were no other related party transactions during the year.
28

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
22. COklPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 2022
un￿$tricted
General Fund Designated
Fund6
Notes
Restrlcted
Funds
2022
Total Funds
2021
Total Funds
Income from..
Charitable activit*s
Other trading activities
Inveslm•nts
other
5,355,103
300
5.355,103
300
302
43.712
5.399.417
5,367,974
302
43,712
5,399,417
86,333
5,456,952
Totsl
Éxpendlture on..
Ralsing funds
CharIta￿e aclvits.
Totsl
660
4,906,286
4,gJ6,946
1,846
4.628.765
4,630.411
4.850,195
4,850,855
56.091
56,091
N•t lncomol1ox￿nd1IurQ>
Tran8f•rn between fund
Net hlov•ment in funds
Reconclllatlon ollvnd$'.
Total fund8 brought
forward
Total fundj carrfed
forward
548,562
1104,7191
443,843
156,0911
104.719
48,628
492.471
826,541
16
492,471
826.541
2,093,955
900,053
2.W.008
2,187,467
2.537,798
948,S81
3A86,479
2,994.008
The statem¢nt of financial adivthe8 includes all gains and108ses r￿ognISed In tr￿ year. All incorne arkj expenditure ¢Jerive
from contlnuing a¢tivities.
29