INISTITUTE
FOR
GOVERNMENIT
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR TO 31 MARCH 2025
Charity number 1123926
Company number 6480524

INSTITUTE FOR GOVERNMENT
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR TO 31 MARCH 2025
CONTENTS
Pages
Legal and Administrative Infomiation
Governors, Annual Report
3to13
Independent Auditorfs Report
14to16
Consolidated Statement of Financial Activities
17
Charity and Group Balan￿ Sheet
18
Consolidated Statement of Cash Flows
19
Notes to the Accounts
20to34

INSTITUTE FOR GOVERNMENT
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR TO 31 MARCH 2025
Board of Governors
Governor
Lord Sainsbury of Turville
Anand Aithal
Baroness Valerie Amos
Sir Andrew Cahn
Sir lan Cheshire
Miranda Curtis
Baroness Susan Kramer
Sir David Lidington
Tamara Finkelstein
Chair
Appointed 17 September 2024
Resigned 5 November 2024
Chair, Finance & Audit Committee
Governors are appointed for an initial term of 3 years. They may be reappointed for further periods of
3 years.
After the year end, on 11 June 2025, Lord Sainsbury of Turville resigned and Edward Michael Balls
was appointed to the Board. On that date, Sir lan Cheshire became Chair of the Board. In May 2025,
Anand Aithal took over as Chair of the Finan￿ & Audit Committee.
Executive Directors
The Director and Chief Executive of the Institute is Dr Hannah White. The Director is responsible for
the day-to-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 & Registered Office
2 Carlton Gardens
London
SW1Y SAA
Website
www.instituteforgovemment.org.uk
The Institute forGovernment is a registered Gharity (No.1123926) and a company limited by guarantee
registered in England and Wales (No.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 2025
The Governors are pleased to present their annual directors, report together with the
consolidated financial statements of the charity and its subsidiary for the year ended 31 March
2025 which are prepared to meet the requirements for a directors, report and accounts for
Companies House.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, and Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in
accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) (effective 1 January 2015).
Our purposes and activities
The Institute for Government ('the Institute") is an independent charity. We work with all the
main political parties in Westminster and with senior civil servants in INlliitehall, providing
evidence-based advi￿ that draws on best practice from around the world.
The purposes of the Institute for Government are..
The advancement of education in the art and science of government in the UK for the
benefit of the public on a non-party political basis, and
The promotion of efficient public administration of government and public service in the
UK by providing programmes of education, training, research and study for the public
benefit on a non-party political basis.
We continue to deliver our vision to increase the effectiveness of govemment in the UK, by
improving the pro￿sseS of govemment, and enhancing the decision making and skills of civil
servants and politicians. Our focus is on bringing about long term, sustainable change, with an
emphasis not just on producing proposals but on working to see them implemented and have
an impact on the way the UK is governed.
Principal activities and achievements
2024-25 was another exceptionally busy and successful year for the Institute. The election was
the defining feature of the year, with lots of work on preparation for government in the run-up
to the election and on training for new MPS, ministers and private office staff and select
committee members following the change of government.
In a period where government faced significant challenges, we continued to focus on the key
questions for government effectiveness. In detail, our work covered:
Civil Service
the year started with us promoting our 2023124 work on the centre of
govemment. making the case publicly and privately for changes to No10 and the Cabinet Office
in particular. After the general election we published 20 ways to improve the civil service which
distilled our key insights on civil service reform into a digestible format for new ministers and
senior officials. We followed that up with the latest Whitehall Monitor published in January
2025.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2025
We amplified our recommendation to introduce a civil service statute by publishing a draft Bill
for the government to adopt, promoting it in a half-day conference. Throughout the year we
continued a drumbeat of commentary about the state of the civil service and the priorities for
change after the election.
Policy making - our work in 2024-25 focused on how the government could deliver its core
missions from clean power and housebuilding to closing the opportunity gap. We published a
timely report on how Labour could overcome the ten biggest barriers to achieving clean power
by 2030, released just one week before the election. This was followed by a series of events
and extensive commentary throughout the year. We also published new research on how to
improve the government's track record on housebuilding and asylum policy - the latest
instalments in our Chronic Policy Problems series. We launched a new series Policymaking
for Left-8ehind groups exploring how the government could use its mission-based approach
to deliver better outcomes for groups who have eXperIen￿d persistent disadvantage, across
many policy areas and decades. Our first paper in this series focused on school readiness,
highlighting stark disparities between demographic groups and what this meant for the
government's ambition to close the opportunity gap.
Devolution
The 2024-25 financial year was a very busy and successful period for our
devolution programme. It included the publication of five influential reports.. on the new
government's devolution agenda, how to 'complete the map, of devolution, urban regeneration,
combined authority constitutions, and local government reorgansation. We also hosted a
number of public and private events in London and elsewhere, including with four metro
mayors, the minister for devolution, the deputy first minister of Scotland, and four local and
combined authority chief executives. We also engaged privately with the government,
combined and local authorities to help to shape policy and implementation in relation to
devolution.
Public Finances - our work this year focused on achieving impact in the run-up to and after
the general election, focusing on developing and disseminating solutions to key problems in
the functioning of fiscal policy, where the election provided an opportunity to convince a new
government to take a different approach. We published new research on capital spending in
public services and how to run the multi-year spending review and continued to follow up on
earlier work on fiscal frameworks and tax policy making. We also developed and published
new work on local growth plans, focusing on developing recommendations for how the new
government could maximise the opportunities provided by devolving more responsibilities to
new and existing strategic authorities.
Public bodies and regulation - we published Parliament and Regulators before the election
and worked with parliamentary staff in re￿sS to develop training and how-to guides for select
committees. Post-election, we concluded our trio of reports on the life cycle of public bodies
with How to set up a public body, which we have followed up with input and support for several
set-up projects. Public events and private roundtables on artificial intelligence, together with a
short publication on its use by the civil service, have also consolidated our work in this area.
We also started work on the role of regulation in enabling and incentivising necessary
transformational investment in the water and energy sectors.
Public services - The team has focused this year on framing the choices facing the new
government. This included a report on how to address the prisons crisis and a major analysis
of the biggest problems facing public services and how to address these published within

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2025
weeks of the election, and an assessment of the autumn budget and the implications for the
spending review.
Prevention has been a big theme of our work this year, with the publication of an agenda-
setting report on how the govemment could take a preventative approach to public seniices
and a follow up paper on the role of youth work in prevention. We also published the first in a
new series of Performan￿ Tracker local reports, as well as publications on integrated care
systems and the general practi￿ estate.
IfG Academy The Academy continued to expand and develop its work with priority
audiences. Prior to the general election, our focus was on delivering learning and development
forthe opposition with our preparing for government work. Afterthe general election, we shifted
our focus to supporting new members of parliament-delivering training to 63 MPS, many of
whom were first-time members, from across the political parties. We worked with newly
established select committees on effective parliamentary scrutiny. covering 11 committees
across 2024-25. Concurrently. our work with academics continued to grow. Our flagship
programmes with AHRC and ESRC were completed successfully, and we delivered workshops
for existing partners such as City University, Leeds, and Exeter. We also launched new
partnerships with organisations such as the University of Warwick and University of Kent.
Beyond academics, we delivered training to new audiences including the Equality and Human
Rights Commission, and the Trades Union Congress. We expanded our relationship with the
civil service through work with the Al Safety Institute, DSIT, and the Cabinet offl￿'S
Leadership College for Government. Altogether, the Academy delivered 96 workshops,
including ministerial and private office workshops.
Ministers - Preparing for a potential change of government and supporting new ministers and
their teams was the main focus for the ministers programme. We worked with the Academy
team to support opposition parties, as we always do ahead of a general election, to think about
how to approach governing in the event of an election victory. We also delivered 15 workshops
with departmental private offices to support their preparation for the election and a potential
transition. Once the new government had taken office, we delivered workshops with individual
ministers, groups of newly-elected MPS who became ministers and departmental teams to
support their transition into government and help them understand how to work with the civil
service. Our research programme continued with more work on ethics and standards in
government (including analysing the new government's work in this area). ministers, roles in
responding to crises. and our series of interviews with former ministers. We also made our
database of all ministerial appointments since 1979 publicly available.
Future Plans 2025-26
Civil service: We are examining the relationship between ministers and civil servants, looking
at what factors are essential to trust and Confiden￿ between the two. We are also looking at
how the transition to a new government worked. Whitehall Monitor 2026 will, as ever, be a
major project, and we will publish our analysis of the civil service fast stream. We will research
the delivery model of the Department for Work and Pensions as part of the Public Finances
led project on inactivity. We will look in detail at how decisions are made in government through
an examination of the ministerial submissions process. We will continue our commentary and
impact work on the effectiveness of the civil service, the ability of government to deliver its
objectives and how to make the ￿ntre of govemment work better.

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FOR THE YEAR TO 31 MARCH 2025
Policy making: We will take forward our series on Policymaking for Left-Behind Groups with
a focus on boys eligible for free school meals (FSM) a group that consistently falls behind
their peers and faces some of the most entrenched disparities. Our work will examine how the
Department for Education can support local areas to meet short-term school readiness targets
while addressing long-temi inequalities for this group. By bringing together on-the-ground
insights with our expertise on how govemment works, we aim to help shape the policy making
process so that it delivers for groups who have been persistently underserved. This case study
will generate broader insights on how to improve policymaking for groups that persistently
experience poorer outcomes. As part of a separate project. we plan to develop a 'one stop,
digital resOUr￿- the first of its kind - to support officials to deliver rapid yet robust policy advi
under pressure, covering the end-to-end policy prO￿ss.
Devolution: This year we are launching our 'DevoLab' series. This will include a programme
of events and case studies on tOPlC8 including transport, health and skills. shining a light on
the most innovative practices taking place at a local and regional level. We are continuing to
work on how to extend devolution further and complete the map of Devolution in England -
including developing advice on one of the trickiest final parts of completing the map- extending
devolution to non-metropolitan areas. And we are beginning new research bringing together
key stakeholders in a series of roundtables to look at public services as the next phase of
English devolution.
Public finances: This year we will launch three new strands of work. First, jointly with the civil
service team, examining policy development and delivery in the Department for Work and
Pensions, focussing on incapacity benefits. Second, examining the benefits and barriers to
shifting the balan￿ of public sector pay away from pensions to current pay. Third, using
microdata to understand better the relationship between private sector employment
opportunities and problems with recruitment and retention in the public sector across the
country. We will also extend our work on local growth to examine how strategic authorities
develop effective local growth plans. Building on earSier work on Treasury orthodoxy and
industrial strategy, we will also develop recommendations for how to steer a grovrth mission
effectively from the centre. We will also continue to follow up on and achieve impact with earlier
work on spending reviews and fiscal policy making processes.
Public bodies and regulation: This year will focus on achieving impact from the body of
research already prOdU￿d. In particular we will support those setting up or abolishing bodies
to apply our lessons leamed. as well as helping the government to make well-founded
decisions. We will also provide support to the various parliamentary and government reviev
that are expected on public bodies and regulation. Planned research focuses on economic
regulation, particularly how it can support investment in infrastructure.
Public services: Alongside our national analysis of public services, we will continue with our
Performance Tracker local series setting out how different services have performed more

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2025
locally. We are looking at what it means to take a place-based approach to public services and
how the government can support this in the spending review. We will look at opportunities for
reform in particular sectors, and on particular issues such as tackling homelessness. We are
also working on enabler for public service reform - building on our work on prevention and
looking at procurement and how it can best contribute to delivering the governments missions.
Academy: This year we are focusing on innovation and trying new ways to grow the Academy
in a way that delivers high impact for the team and the IfG. We are continuing work with key
partners such as the Al Safety Institute and have also gone through the process of joining the
Government Learning Frameworks. This will enable us to reach more civil servants, including
private office staff, and we have finalised our 'Private offi￿ Induction, and 'Working with
Ministers. training for this purpose. We intend to continue to support experts and academics
joining govemment, including working with partners in academia and government to develop
programmes of support for those undertaking fellowships inside government. We are also on
course to deliver two open courses for academics in September and November, and demand
for our regular courses continues to grow-especially with the advertisement of our new
brochure for our standard courses for academics. In terms of our work with ministers, we
continue building on the success of our pre- and post-election engagement to better establish
ministerial and special adviser professional development as a feature throughout their time in
office. Our research work on ministerial case studies over the summer will inform our L&D
offers for ministers and their teams from the autumn.
Ministers: As the govemment beds in, we will continue to assess their work on ethics and
standards, as well as monitoring and commenting on levels of turnover among ministers. Our
research programme will focus on developing in-depth case studies for ministers dealing with
different situations in their roles, including managing crises and delivering in-depth reforms to
public services. Our Ministers Reflect interview series will continue to capture the reflections
of former ministers and their advi￿ on how to be effective in the role.
How our activities deliver public benefit
In shaping our annual objectives and business plans the Institute has considered the Charity
Commission's guidan￿ 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, individual clients or companies. These are
promoted widely and free of charge to individuals, organisations, practitioners and others with
an active interest in the government of the UK.
Together, these reports and the events arising out of our work provide a robust evidence base
on the governance of the UK. This helps equip the public, parliament and government itself
with knowledge and information on the issues affecting the governing of the UK and the training
of its current and future ministers.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
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Our staff are frequently invited 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 public debate,
media outlets and individual citizens. We have a social media presence which promotes our
work and is free and accessible to the public.
We encourage those with an interest in our work to become involved by joining our mailing
lists and receiving newsletters and being invited to attend our public events.
Through the work of the IfG Academy we hope to share our expertise even more widely in
order to improve the process of policy-making at all levels.
Impact is at the heart of our work. We build the research and arguments for change,
relationships, products and channels to improve government. We monitor the impact of our
work very closely and report on it at each meeting to the Board. Our strong relationships,
reputation and quality of argument means we have significant impact on government and
expect that to grow after a general election in which the importance of how government is done
was a key theme of debate.
Financial Review
The Institute's consolidated income amounted to £6,857,604 <2024.. £6,418,767) whilst
consolidated expenditure amounted to £6,462,387 {2024'. £5,829,214) as shown in the
Statement of Financial Activities. After the creation of a provision for liabilities related to the
exit from 2 Carlton Gardens (see below) and transfers to designated funds, the consolidated
surplus on all funds was £395,217.
This surplus was partly due to underspend on salaries during the period and partly due to the
continuing success of its partnerships team in generating over £1.2m of financial support for
the research programme from grants and corporate partners who were increasingly interested
in the Institute's work in areas such as the effectiveness of public services, regional devolution
and policy making. We also saw an ongoing increase in booking5 from academic institutions
for courses to support early career researchers to understand government and make an impact
on the policy debate.
The charrty has a trading subsidiary, IFG Enterprises Limited which undertakes commercial
activities on behalf of the charity. In 2024-25 the company made a surplus for the year of
£292,423. All of the IFG Enterprises Ltd surplus (the net overall P&L position at 31st March
2025) will be transferred to the Institute as a gift aid payment in line with the standing board
mandate.
Principal funding sources
The Institute's core funder is the Gatsby Charitable Foundation. Core funding income from the
Gatsby Trust in 2023-24 was £5,508,933 (2024: £5,252,561).
A three-year plan was produced during 2022-23 setting out the research programme the
Institute intended to undertake to 2026 along with the associated cost. A funding request was
then submitted to the Gatsby Trustees asking for their support to deliver the plans. Approval
for funding for the three-year period to March 2026 was given by the Gatsby Board in February
2023.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2025
During 2025-26, a new application will be made to the Gatsby Foundation for core funding for
the years beyond 2026.
In addition to this core funding, the Institute funds its project work and events by generating
income from a range of corporate and academic funders and trusts. Details on all SoUr￿S of
funding are provided on the Institute's website. As noted above, it was an exceptionally positive
year for resource generation with over £1.2m contributed to the P&L for the year and a
significant pipeline of opportunities in place for 2025-26.
2 Carlton Gardens and 16-18 Old Queen Street
The lease for 2 Carlton Gardens expires in April 2026.
In preparation for the lease expiry, the Institute has entered into a lease for a property at 16-
18 Old Queen St. owned by its primary funder the Gatsby Foundation. The rent is a
peppercorn, but considerable renovation is required.
A provision of £180,000 was created in 2024-25, to sit alongside an existing designated fund
of £250,000 to provide financial security against future significant one-off costs associated with
the exit from 2 Carlton Gardens. In addition, there is a designated property relocation fund of
£1,000,000 to cover the potential costs of planning and executing a move and re-equipping
new premises in 2026.
The project to renovate 16-18 Old Queen Street is a major focus of management attention.
This building is intended to be the long-temi home of the Institute and it is essential that the
investment provide the facilities and resources required for the Institute's work in the coming
decade. Initial contracts were drawn up around the end of 2024-25 for project managers.
architects and other consultants and detailed design work was scheduled to take place over
the summer of 2025. The intention is to enter into a construction contract in autumn 2025.
Reserves policy
Total unrestricted funds increased to £4,367,922 as at 31 March 2025 (2024.. £3,972,705).
There are no restricted reserves (2023.. £nil). Fixed assets represent £309,363 (2024:
£142,334) of the unrestricted funds total.
The Governors have reviewed their reserves policy and the financial risks fa￿d by the
organisation. The Governors, policy is that the level of resenies, defined as free and
undesignated reserves measured by the amount of retained general funds should be at least
six months, operating costs. Current general fund reserves levels are £2,808,558 (2024..
£2,580,370) which represent 420A of the planned expenditure of the Institute for 2025-26. It is
therefore the policy of the Institute to continue to build its resenies to provide resilience in the
case of the unexpected.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2025
Investment policy
The investment of funds surplus to day-to-day requirements is considered at the Finance &
Audit Committee. These funds are placed on deposit with large reputable banks with as long
a maturity as is consistent with managing cash flow requirements.
Going Concern
The Institute reported a cash inflow of £769,087 for the year (2024: inflow of £621,219).
The group retained a cash balance of £4,523,829 at 31 sl March 2025. The Governors are of
the view that the management has the capacity to react quickly to changing circumstances
and the security of the medium-term commitment of the Gatsby Charitable Foundation
provides assuran￿ that the charity is a going concern.
Structure, Governance and Management
Institute for Government is a company limited by guarantee governed by its Memorandum of
Association dated 16 January 2008, and revised Articles of Association adopted by special
resolution on 21 September 2010. It is registered 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.
Governors
The Board met every three months during the period covered by the Annual Report to manage
and control the affairs of the Institute. The Governors concern themselves mainly with issues
of a strategic nature, deciding broad policy for the Institute and ensuring good governance and
complian￿. The Institute seeks to maintain a balan￿ of political, civil service and commercial
experience as well as political affiliation among the members of its Board. During 2024-25, the
Board was chaired by Lord Sainsbury of Turville. He stepped down at the Board meeting in
June 2025 and the chair was taken by Sir lan Cheshire, formerly chair of the Finance and Audit
Committee.
The senior management team undertakes the day-to-day management of the Institute's
activities within the framework set out by the Governors and comprised the Director, the Deputy
Director, the Director of Impact, the Director of Finance & Resources, the Chief Economist and
Programme Directors.
The Finance and Audit Committee was chaired by Sir lan Cheshire during the year. It also met
on a quarterly basis and reviewed the financial performance and all aspects of risk
management of the Institute. Since year end, the Committee has been chaired by Anand Aithal.
The Remuneration Committee met twice in the year to consider matters relating to recruitment
and retention of staff.
The Articles of Association provide for the appointment and retirement of the Governors on
three-year temis. During the year Baroness Valerie Amos retired by rotation and after year
end, Lord Sainsbury stepped down. There is a requirement for a minimum of three governors
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and there is no upper limit, though normally the Board will comprise a maximum of fifteen
members.
The Governors put forward and discuss potential new Board members amongst the existing
members. Proposals for appointments and re-appointments are reviewed by the Nominations
Committee prior to approval by the Board. The key principles for appointment are that the
Board of Governors should provide a balan￿ of experience including from the civil service,
private sector, the academic sector and also from the major political parties. The Board should
always be balanced in terms of direct political affiliation to ensure its non-partisan position.
There is no specific training or induction for new governors as they have been selected based
upon their experience and interest in the objectives of the Institute.
None of the Governors receive remuneration or other benefit from their work with the charity
though they may be paid reasonable travel, hotel and other expenses that they incur in
connection with their attendance at Institute meetings. 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 govemor
or senior manager with a stakeholder (customer, supplier, sponsor, funder, government
department, political party) of the charity must be disclosed in the same way as any other
contractual relationship with a related party.
The Institute has utilised the governance code for charities to assess Complian￿ with the
principles of the code and identify any measures required to improve its governance standards
and overall effectiveness as an organisation.
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 and how these
are managed and mitigated forms part of the regular reporting by senior management 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 impact. The focus in this risk
register is on the most material risks facing the Institute,. risks which if realised could have
serious consequences for all or some of our stakeholders and threaten the future viability of
the Institute.
The most significant risks facing the Institute and the ones that inform our reserves policy are
the reliance on Gatsby funding and potential liabilities relating to 2 Carlton Gardens and 16-18
Old Queen Street.
Assurances of continuing support have been sought by the Board from the Gatsby Foundation
and a commitment covering the period up to and including 2023-26 has been received along
with assurances of ongoing funding for the immediate future.
The potential liabilities relating to 2 Carlton Gardens have been mitigated by setting aside
adequate designated provisions and reserves, while the management of the Old Queen Street
project is under constant review.

INSTITUTE FOR GOVERNMENT
GOVERNORS, ANNUAL REPORT
FOR THE YEAR TO 31 MARCH 2025
The Institute's systems are cloud-based and there is constant attention to the issue of cyber-
security, ensuring that the Institute's systems are fit for purpose and secure. Cyber Essentials
accreditation has been maintained.
Trading subsidiary and fundraising
The Institute has a wholly owned subsidiary, IFG Enterprises Limited, which undertakes
commercial activities on behalf of the charity.
A Board Resolution of 11th December 2018 mandated the automatic transfer of the IFG
Enterprises Ltd surplus to the Institute going forward and all profits of IFG Enterprises Limited
are gift aided to the Institute for Government.
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 Institute takes great care 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 policy for senior staff
The Board of Governors, who are the Institute'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 Institute on a day-to day basis. All board
members give of their time freely and no governor received remuneration in the year.
The Institute for Government's policy on pay is that it should be based on merit and that it
should reward performance. The Institute has a formally constituted board sub-committee lo
address remuneration issues. This meets on a regular basis throughout the year. Its remit is
to consider the basis on which pay decisions are made and to 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 the Director.
Pay decisions are based on merit and, where appropriate for technical and specialist roles,
market rates. The Institute considers each year, according to circumstances, whether to
apply a cost of living adjustment to salaries. The Institute's approach to pay is to balance the
need to attract, retain and motivate appropriately skilled individuals able to deliver the
necessary impact with the financial considerations of being a charity.
Auditor
Crowe U.K. LLP has indicated its willingness to be reappointed as statutory auditor.
A resolution proposing the appointment of Crowe U.K. LLP as auditors of the Charity for the
year to 31 March 2026 will be put to the Annual General Meeting.
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statement of Governors, responsibilities
The Governors (who are also directors of the Institute for Government for the purposes of
company law) are responsible for preparing the Govemors, Annual Report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting practi￿).
Company law requires the charity trustees to prepare financial statements for each year which
give a true and fair view of the state of affairs of the charitable company and the group and of
the incoming resources and application of reSoUr￿s, including the income and expenditure,
of the charitable group for that period. In preparing the financial statements, the trustees are
required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the charity will Gontinue in business.
The Governors are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and to enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and the group and hen￿ taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The Governors 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 financial statements may differ from legislation
in other jurisdictions.
Statement as to disclosure to our auditors
In so far as each of the Governors is aware at 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 auditor is unaware, and
each of the Governors, having made enquiries of fellow Governors that helshe ought
to have individually made, has taken all steps that helshe is obliged to take as a director
in order to make himlherself aware of any relevant audit information and to establish
that the auditor is aware of that information.
By
rd r of the board of trustees
Sir lan Cheshire (Chair)
10 September 2025
13

Independent Auditor's Report to the Members of the Institute for Government
Opinion
We have audited the financial slatements of Institute for Government ('the charitable
company,) and its subsidiaries ('the group,) for the year ended 31 March 2025 which comprise
Consolidated Statement of Financial Activities, Charity and Group Balance Sheets,
Consolidated Statement of Cash Flows and notes to the financial statements, including
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..
give a true and fair view of the state of the group's and the charitable company's affairs as at 31
March 2025 and of the group's income and expenditure, for the year then ended,,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in acGordance with Intemational 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 trustee's use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the charitable company's or 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 concem are
described in the relevant sections of this report.
other information
The trustees are responsible for the other information contained within the annual report. The
other information comprises the infomiation included in the annual report, other than the
financial statements and our auditor's report thereon. 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.
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 this
gives rise to a material misstatement in the financial statements themselves. 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.
14

Oplnlons on other matters prescrlbed by the Companies Act 2006
In our opinion based on the work undertaken in the course of our audit
the information given in the trustees, report, which includes the directors, report prepared for the
purposes of company law, for the financial year for which the financial statements are prepared is
consistent with the financial statements- and
the directors, report included within the trustees, report have been prepared in accordance with
applicable legal requirements.
Matters on which we are required 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 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..
adequate and proper accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit-, or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the
trustees, directors, report and from the requirement to prepare a strategic report.
Responslbllltles of trustees
As explained more fully in the trustees, responsibilities statement Iset out on page 13], 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 charitable
company's ability to continue as a going COn￿rn, disclosing, as applicable, matters related to
going concern and using the going concern basis of accounting unless the trustees either
intend to liquidate the charitable company or to cease operations, or have no realistic
alternative but to do so.
Auditor's responslbllltles for the audlt of the financial statements
Our objectives are to obtain reasonable assuran￿ 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.
Details of the extent to which the audit was considered capable of detecting irregularities,
including fraud and non-compliance with laws and regulations are set 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.. VANW.frc.or
.uklauditorsres
onsibilities. This
description fomis part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
identified and assessed the risks of material misstatement of the financial statements from
irregularities, whether due to fraud or error, and discussed these between our audit team
members. We then designed and performed audit procedures responsive to those risks,
including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
15

## Tina Allison 

## Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London 

## 25 September 2025 



INSTITUTE FOR GOVERNMENT
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2025
Unrestricted
General Designated Restricted
Fund
Funds
Funds
Notes
2025
Total
Funds
2024
Total
Funds
Income from:
Charitable activities
other trading activities
Investments
Other
Total
6,665,239
80,928
29,067
16,700
6,791,934
65,670
6,730,909
80,928
29,067
16,700
6,857,604
6,321,406
63,680
21,181
12,500
6,418,767
65,670
Expenditure on:
Raising funds
Charitable activities
Totsl
15,199
6,280,019
6,295,218
15,199
6,447,188
6,462,387
15,766
5,813,448
5,829,214
101,499
101,499
65,670
65,670
Net
incomel(expenditure)
Transfers between
funds
Net Movement in
funds
496,716
(101,499)
395,217
589,553
19
{268,528)
268,528
228,188
167,029
395.217
589,553
Reconciliation of
funds:
Total funds brought
forward
Total funds carried
forward
2,580,370
1,392,335
3,972,705
3,383,152
2,808,558
1,559,364
4.367,922
3,972.705
The slatemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive
from continuing activities.
The amount of £101.499 allocaled to designated funds {2024.' £96,631) represents the depreciation charge while transfers
belween funds are additions to fixed assets (£268,528 - see also Notes 12 & 13 on pages 28 & 29).
17

INSTITUTE FOR GOVERNMENT
CHARITY AND GROUP BALANCE SHEETS
AS AT 31 MARCH 2025
Notes
Group
2025
Charity
2025
2024
2024
Fixed Assets
Tangible fixed
assets
Intangible fixed
assets
Investments
12
275,523
64.887
275,523
64,887
13
33,840
77,447
33,840
77,447
14
100
309,463
100
142,434
309,363
142,334
Current Assets
Debtors
Cash at bank
15
492,426
4,523,829
5,016,255
488,639
3,994,203
4,482,842
2,507,985
2,409,236
4,917,221
1,458,726
2,935,176
4,393,902
Current Liabilities
Creditors: amounts
falling due within
one year
Net Current
Assets
16
777,696
652,471
678,762
563,631
4.238,559
3,830,371
4,238,459
3,830.271
Total assets less
current liabilities
4,547,922
3,972,705
4,547,922
3,972,705
Provision for
liabilities and
charges
Totsl Net Assets
18
180,000
180,000
4,367,922
3,972,705
4,367,922
3,972,705
The funds:
Unrestricted
Funds
General Fund
Designated Funds
19
2,808,558
1,559,364
4,367,922
2,580,370
1,392,335
3,972,705
2,808,558
1,559,364
4,367,922
2,580,370
1,392,335
3,972.705
Company number 6480524
The piofivloss for the financial year dealt with in the financial statements of the parent company was £395.217 {2024'.
£589.553}.
The govemors have prepared group accounts in accordan￿ with section 398 of the Companies Act 2006 and section
138 of the Charities Act 2011. These accounts are prepared in accordan￿ with the special provisions of Part 15 of the
Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006
and are for circulation to rnembers of the company.
Sir lan Cheshire
Chair of Board of Governors on behalf of the governors
Approved and authorised for issue by the Governors on 10 September 2025
18

INSTITUTE FOR GOVERNMENT
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE
YEAR ENDING 31 MARCH 2025
Group
2025
2024
Cash flows from operating activities:
Net cash provided by operating activities
769,087
621,219
Cash flows from investing activities:
Interest income
29,067
1268,528)
21,181
(25,725)
Purchase of tangible & intangible fixed assets
Net Cash used in investing activities
(239,461)
14.544)
Change in cash and cash equivalents in the reporting period
529,626
616,675
Cash and cash equivalents at the beginning of the reporting period
3,994,203
3 377 528
Total Cash and cash equivalents at the end of the reportlng period
4,523,829
3,994,203
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
Group
2025
2024
Net Income for the reporting period
Adjustments for:
Depreciation charge
Interest income
(Increase) in debtors
Increase in creditors
395,217
589,553
101,499
12g,067}
(3,7871
305,225
96,631
(21.181)
(77,759)
33,975
Net cash provided by operating activities
769,087
621.219
19

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basi5 of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1
January 2015) - (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102} and the Companies Act 2006.
Institute for Government meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless othe￿iSe stated in the
relevant accounting policy note(s).
b)
Preparation of the accounts on a going concern basis
The Governors having assessed the charity's financial position, its plans for the foreseeable ￿ture, the
risks to which it is exposed and forecast projections are satisfied that it remains appropriate to prepare
the financial statements on the going concern basis. Further details on the Institute's going concern
assessment are provided in the Governors, Annual Report on page 10.
Crltlcal accounting judgernents and estimate uncertainty
In the application of the charity's accounting policies, which are described in this note, Governors are
required to make judgements, estimates and assumptions about the carrying values of assets and
li8bilities that are not readily apparent from other sources. The estimates and underlying assumptions
are based on historical experience and other factors that are considered to be relevant. Actual results
may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing
basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if
the revision affects only that period, or in the period of the revision and future periods. The Governors
are ofthe view that there are no assumptions concerning the future or estimations of uncertainty affecting
assets and liabilities at the balance sheet date which are likely to result in a material adjustment to their
carrying amounts in the next financial year.
d)
Group financial statements
In accordance with the requirements of SORP 2015 the financial statements consolidate the results of
the charity and its wholly owned subsidiary IFG Enterprises Limited on a line-by-line basis. The results
of IFG Enterprises Limited are shown in Note 5.
Income
Income from any source including grants is recognised when the charity has entitlement to the funds,
any performance conditions attaching to the item(s) of income have been met, it is probable that the
income will be received and the amount can be measured reliably and is not deferred.
20

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
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 financial year. For
other grants and income for specifiG projects and events series, income is recognised when any
performance criteria have been met and with regard to the length of the project being funded or the
number and timing of events in a funded series.
Income received in advance for any event, project or room hire or provision of other specified service is
deferred until the criteria for income recognition are met including when an event actually takes pla￿ or,
where a project runs across financial years, with regard to resource inputs into a project or specific
deliverable or performance criteria.
f)
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
Designated funds are unrestricted funds of the charity which the Governors have decided at their
discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has
specified are to be solely used for partlGular areas of the Institute's work or for specific projects being
undertaken by the Institute.
g)
Expendlture and Irrecoverable VAT
Expenditure is recognised once 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. Expenditure is classified under the following activity headings..
Costs of raising funds comprise the costs of commercial trading by the subsidiary and their associated
support costs.,
Expenditure on charitable activities includes the costs of events, projects and research and other
activities undertaken to further the purposes of the charity and their associated support costs.,
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Allocatlon of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake
charitable activities. Support costs include back Offi￿ costs, finance, personnel, payroll and governance
costs which support the Institute's projects and activities. These costs have been allocated be￿een oost
of raising funds and expenditure on charitable activities. The bases on which support costs have been
allocated are set out in Note 8.
21

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
Tangible flxed assets
Individual fixed assets costing £500 or more are recognised at cost and are depreciated over their
estimated useful economic lives on a straight-line basis as follows..
Asset category
Long leasehold buildinglimprovements
Office equipment
Furniture & fittings
Annual rate
Based on term of leaselestimated lease extension
33/0
i)
Intangible fixed assets
The Institute launched a new website in 2022-23. Its cost will be amortised over its estimated useful
economic life of three years on a straight-line basis.
k)
Financial instruments
Institute for Government has financial liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at transaction value and subsequently measured at
amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash
and bank in hand together with trade and other debtors and accrued income. Financial liabilities held at
amortised cost comprise trade creditors, other creditors and accruals.
i)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
m) Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Credltors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured or estimated reliably.
LEGAL STATUS OF THE INSTITUTE
The Institute is a company limited by guarantee incorporated in England & Wales and has no share
capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to
£1 per member of the charity. The Institute's registered office address is 2 Carlton Gardens, London,
SW1Y SAA.
22

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
FINANCIAL PERFORMANCE OF THE CHARITY
The consolidated statement of financial activities includes the results of the charity's wholly owned
subsidiary which undertakes commercial activities including room hire on behalf of the charity. The
summary financial performance of the charity alone is".
2025
2024
Income
Gift aid from subsidiary company
6,561,094
292,423
6,256,439
160,988
6,853,517
6,417,427
Expenditure on raising funds and charitable activities
6,458,300
5,827,874
Net Income
395,217
589,553
Total fvnds brought forward
3,972,705
3,383,152
Total funds carrled forward
4,367,922
3,972,705
Represented by..
Designated unrestricted income funds
General unrestricted income funds
1,559,364
2,808,558
4.367,922
2,580,370
1,392,335
3,972,705
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
Grant from Gatsby Charitable Foundation
Project and event sponsorship income
Learning and development courses
other income from charitable activities
5,508,933 5,252,561
968,281
875,525
251,459
193,319
2,236
6,730,909
6,321,406
The Gatsby Charitable Foundation continues to provide an annual inflation-adjusted general
purposes grant towards the core operational costs of the Institute. This grant is formally committed
until March 2026. A new application will be made in late 2025 for upcoming periods.
23

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
INCOME EARNED FROM OTHER ACTIVITIES
The wholly owned trading subsidiary IFG Enterprises Limited is incorporated in the United
Kingdom (company number 07240242) and pays all of its profits to the charity under the gift aid
scheme. IFG Enterprises Limited now manages all the business activities of the Institute
for Government, including charitable activity. Financial statements for the company's financial
year to 31 March 2025 have been prepared. A summary of the results is shown below.
The summary financial performance of the subsidiary alone is"
2025
2024
Turnover
Interest income
Cost of sales and administrative costs
Net profit
1,078,856
3,134
789,567
292,423
893,901
964
733.877)
160,988
Retained earning5 brought forward
Amount gift aided to the charity
Retained earnings carried forward
292,423
160.988
There is a management fee of £785,482 payable to the parent company included in the results
above12024.' £732,537) relating to the cost of sales of events held by IFG Enterprises Limited.
As at 31 March 2025, IFG Enterprises Limited had total assets of £2,335,063 (2024.. £1,260,274)
and total liabilities of £2,334,963 (2024: £1,260,174).
OTHER INCOME
Other Income includes £16,700 (2024.. £12,500) which represents recharges for the use of
facilities at 2 Carlton Gardens by the Public Chairs Forum including utilities and other service costs
incurred by the Institute in respect of the whole building and is unrestricted general fund income.
24

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
As in previous years there is no simple distinction between Research and Learning & Development
as identifiably different charitable activities. As such expenditure on charitable activities is not
segmented. The expenditure on our charitable work is analysed below.
2025
2024
Slaff salaries and other staff related costs
Premises and other building related costs
Events and Staff Catering
ResearchlAcademy costs
Office supplies
IT costs
Depreciation
Finance costs including bank charges
Website and media costs
Irrecoverable VAT
Governance costs
Support costs
3,974,412 3.589,992
1,066,436
848,410
376,803
402,158
22,794
24,409
15,478
24,540
79,099
64,553
101,499
96,631
1,030
886
166,293
161,754
158,807
157,043
46,992
41,551
437,545
401,521
Total
6,447,188 5,813,448
ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
The Institute initially identifies the costs of its support functions. It then identifies those costs which
relate to the governance function. The table below gives analysis of support and governance costs
including the basis on which these are calculated.
General
support
Gov8rnance
2025
Total
2024
Total
Basis of calculation
Staff costs
335,264
18,361 353,625 335,040
Support function staff
time spent on support
function activities
Building costs
102,281
102,281
84,841
Support function staff as
proportion of FTE staff
Audit and
accountancy fees..
Audit
Tax advisory
26,320
2,255
26,320
2,255
22,900
238
Govemance
Governance
Legal and
professional fees
56
56
53
Governan
Total
46 992 484 537 443,072
The total paid to the charity's auditors was £26,320.
25

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF
KEY MANAGEMENT PERSONNEL
The aggregate payroll costs were as follows..
2025
2024
Salaries and wages
Social security costs
Pension costs
Other costs
3,198,852 2,916,851
358,868
326,545
619,099
598,813
11,909
10,240
4,188,728 3,852,449
During the year there were no redundancy or termination payments {2024: £5,200),
The number of staff with emoluments greater than £60,000 was:
2025
2024
£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
£210,000 - £219,999
£240,000 - £249,999
Pension costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged
to unrestricted funds. The banding disclosures are for totsl gross pay before any deductions.
The charity trustees were not paid nor did they receive any other benefi'ts from employment with the charity or its
subsidiary in the year (2024.. £nil). No charity trustee received payment for professional or other services supplied
to the charity (2024.. £nil).
During 2024-25, the key management personnel of the parent charity comprised the trustees, the Director,
Deputy Director, Director of Finan￿ & Resources, Director of Partnerships, Director of Communications and
Marketing, Programme Directors, Director of Impact and Chief Economist of the Institute for Government. The
total employee benefits of the key management personnel of the charity were £1,860,185 (2024.. £1,681,764).
The key management personnel of the group are the same as those of the Charity.
26

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
10. STAFF NUMBERS
The average number of persons employed by Institute of Government whether on a full time or part time basis
during the period, analysed by category, was as follows..
2025
2024
No.
Research, Learning and Development
Offi'ce, management and services
41
17
58
38
17
55
11. CORPORATION TAXATION
The Charity is potentially exempt from taxation in respect of income or capital gains received within categories
covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains
Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
27

ZJI
ttou
Wr
0￿0

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
13. INTANGIBLE FIXED ASSETS
Intangible Assets
Total
Cost
Balan￿ brought forward at 1 April 2024
130,820
130,820
Balan￿ carried forward at 31 March 2025
130,820
130,820
Amortisation
Balance brought foward at 1 April 2024
Charge for the period
53,373
43,607
53,373
43,607
Balance carried forward 31 March 2025
96,980
96,980
Net book value at 31 March 2025
33,840
33,840
Net book value at 1 April 2024
77,447
77,447
14.
INVESTMENTS
Charity
2025
2024
Investment in subsidiaries
100
100
The charity holds 100 shares of £1 each in its wholly owned trading subsidiary company IFG Enterprises
Limited which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully
paid. The activities and results of this company are summarised in Note 5.
15.
DEBTORS
Group
2025
Charity
2025
2024
2024
Trade debtors
VAT
Other debtors
Amounts owed by subsidiary
Prepayments and accrued income
225.734
195,884
9,175
2,196
26,064
30,641
7,312
2,205,388
238,580
52,076
35,178
2,196
1,145,330
223,946
7,312
259.380
281,384
492,426
488,639
2,507,985
1,458,726
29

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2025
Charity
2025
2024
2024
Trade creditors
VAT
Accruals and deferred income
Other taxation and social security
Other creditors
337,655
31,159
298,900
100,466
9,516
164,328
337,655
164,328
315,608
96,718
75,817
231,125
100,466
9,516
226,768
96,718
75.817
777,696
652,471
678,762
563,631
17.
DEFERRED INCOME
Group
Charity
2025
2024
2025
2024
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous
periods
133,940
73,744
{100,790)
121,808
100,790
(88,6581
45,100
5,969
(11,950)
121,808
11,950
(88,658)
Deferred income at 31 March 2025
106,894
133,940
39.119
45.100
18.
PROVISION FOR LIABILITIES AND CHARGES
Group
Charity
2025
2024
2025
2024
Balance at 1 April 2024
Amount utilised in the year
Amount released in the year
Amount provided in the year
180,000
180,000
Balance at 31 March 2025
180,000
180,000
The provision has been made to cover the liabilities and charges which could potentially arise from vacating 2
Carlton Gardens during 2026 as the Institute moves to its new home at 16-18 Old Queen St.
30

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
19. ANALYSIS OF CHARITABLE FUNDS
Analysis of movements in unrestricted and restricted funds 2024-25
Balance
Income
Expenditure
Transfers
Balance
1 April 2024
31 March 2025
Unrestricted Income
Funds
General funds
2,580,370
6,835,374
(6,338,658)
{268,528)
2,808,558
Designated Funds
Fixed asset fund
Property relocation
fund
Capital and
maintenance fund
142,334
1,000,000
(101,4991
268,528
309,363
1.000,000
250,001
250,001
Restricted Funds
65,670
65,670
TOTAL FUNDS
3,972,705
6,901,044
6,505,827
4,367,922
Analysis of movements in unrestricted and restricted funds 2023-24
Balance
Income
Expenditure
Transfers
Balance
1 Aprll 2023
31 March 2024
Unrestricted Income
Funds
Gèneral funds
2.349,911
6,418,767
(5,732,583)
{455,725)
2,580,370
Designated Funds
Fixed asset fund
Property relocation fijnd
Capital and maintenance
fund
213,241
620,000
200,000
(96,631)
25,724
380,000
50,001
142.334
1,000,000
250,001
Restricted Funds
TOTAL FUNDS
3.383,152
6,418.767
5,829,214
3.972,705
The fixed asset fund represents funds set aside equivalent to the net book value of the fixed assets of the
organisation. The fixed assets are depreciated over time and therefore it is appropriate to put funds aside
covering the reduction in economic value of the Institute's fixed assets.
The property relocation fund represents a round sum estimate of the replacement cost of office equipment and
fixtures and filtings in the event of an office move at the end of the lease at 2 Carlton Gardens.
The capital and maintenance fund represents funds put aside to cover future costs in relation to 2 Carlton
Gardens which, by their nature, can be both large and unpredictable in timing.
The 2023-26 lease for Carlton Garden was signed on 4 April 2023. Where it imposes clear legal obligations,
provision is being made over the life of the lease to cover them. The need for designated funds will be assessed
accordingly.
31

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
20.
ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS
Unrestricted
Restrlcted
Group
total
funds
funds
General
Designated
funds
Fund balances at 31 March 2025
are represented by:
309,363
309,363
Tangible fixed assets
3,766,254
1,250,001
5,016,255
Current assets
(777,696)
(777,696)
Current liabilities
Provision ft)r dilapldations
(180,0001
{180,000)
2,808,558
1,559,364
4,367,922
Unrestricted
Restrlcted
Group
funds
funds
total
General
Designated
funds
Fund balances at 31 March 2024
are represented by:
142,334
142.334
Tangible fixed assets
3,232,841
1,250,001
4,482,842
Current assets
(652,4711
(652,471)
Current liabilities
2,580,370
1,392,335
3,972,705
32

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
21. OPERATING LEASE COMMITMENTS
At 31 March 2025, the charity had the following total operating lease commitments..
Group
Charity
2025
2025
2024
2024
Operating lease commitments
due:
Not later than one year
Later than one year and not later
than five years
Later than five years
Lease payments recognized as
an expense
600,000
600.000
600,000
598,630
6,575
598,630
6,575
598,630
The above commitments represent the charge for an operating lease on 2 Carlton Gardens.
A three-year lease with rent set at £600,000 was signed on 4th April 2023.
Lease payments recognised as an expense in 2024-25 were £600,000.
The Charity has set aside a balance sheet provision of £180,000 in addition to a designated fund of £250,000
for any maintenance and reinstatement costs which may be needed during the remainder of its lease at
Carlton Gardens and at the end cf the lease.
On 31 January 2025, the Institute entered into a three-year lease at peppercorn rent for a property at 16-18
Old Queen St owned by The Gatsby Foundation. The building will be re-furbished and, once complete, the
Institute will move its operations there after the expiry of the lease at Carlton Gardens.
22. RELATED PARTY TRANSACTIONS
The charity does undertake transactions with its wholly owned subsidiary IFG Enterprises Limited in the normal
course of business. For 2024-25 there was a recharge of £785,482 to IFG Enterprises Limited {2024'. £732,537)
for the costs incurred by the Institute in supporting the business of IFG Enterprises Ltd. When there are
remaining profits from IFG Enterprises Ltd's business they are gift aided by that company to the Institute. For
2024-25 this amount will be £292,42312024'. £160,988). There were no other related paty transactions during
the year.
33

INSTITUTE FOR GOVERNMENT
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
23. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 2024
Unrestricted
General Fund
Designated
Funds
Notes
Restricted
Funds
2024
Total Funds
2023
Total Funds
Income from".
Charitable activities
6.321.406
63,680
21,181
12,500
6,418,767
6,321,406
63,680
21,181
12,500
6,418.767
5,706.271
13,505
8,347
12,000
5,740,123
Other trading activities
Investments
Other
Total
Expenditure on:
Raising funds
Charitable activities
Totsl
15,766
5,716,817
5,732,583
15,766
5,813,448
5,829,214
7.894
5,835,556
5,843,450
96,631
96,631
Net incomel(expendlturel
Transfers between funds
Net Movement in funds
Reconclllatlon of funds..
Total funds brought
forward
Total funds carried
forward
686,184
(455,725)
230,459
(96,631)
455,725
359,094
589,553
(103,327)
18
589,553
(103,32n
2,349,911
1,033,241
3,383,152
3,486.479
2,580,370
1,392,335
3,972,705
3,383,152
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive
from continuing activities.
34