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← Videre Est Credere

2023-12-31-accounts

Videre est Credere

(A Company Limited by Guarantee)

Company No. 06706030 Charity No. 1130375

Report and financial statements

For the year ended

31 December 2023

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Videre est Credere

Report and financial statements

For the year ended 31 December 2023

Contents
Page
Reference and administrative information 1
2
Independent auditors' report 8
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14

Videre est Credere

Reference and administrative information

For the year ended 31 December 2023

Trustees: Mr Jonny Persey (Co-chair)
(as at the date of this report) Ms Rosa Curling (Co-chair)
Mr Uri Fruchtmann
Mr David Goldsworthy (Secretary)
Ms Roudabeh Kishi
Mr Dylan Mathews
Company Secretary: David Goldsworthy (appointed November 2023)
Jacqueline Geis (resigned June 2023)
Chief Executive: Tim Hansen (appointed January 2024)
Jesse Roberts (appointed June December 2023 as Interim CEO)
Jacqueline Geis (resigned June 2023)
Company number: 06706030
Charity number: 1130375
Registered office: 86-90 Paul Street
London
EC2A 4NE
Auditors: Goldwins Limited
75 Maygrove Road
West Hampstead
London NW6 2EG
Bankers SG Hambros (Closed on 30 June 2023)
IFX Payments (Opened on 30 June 2023)
33 Cavendish Square
London W1G 0PW

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Videre est Credere

For the year ended 31 December 2023

The Trustees, who are also directors under company law, present their report and financial statements for the year ended 31 December 2023.

The Trustees confirm that the financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

OUR MISSION

Videre exposes mass violence and other gross violations of human rights by equipping persecuted and marginalized communities with tools, training, and technology to document abuses, demand accountability, and secure justice.

OUR VISION

Videre seeks a world where the power of images and information ensures that no abuse goes unseen, no violation goes unchallenged, and no perpetrator goes unpunished.

OUR APPROACH

Historically, many communities have lacked access to international actors including media outlets, accountability bodies, human rights NGOs, and humanitarian agencies. They have faced significant security challenges when trying to gather information. When they do manage to get the word out on abuses, verification and distribution problems can stymie effectiveness.

Videre has overcome these challenges by developing close, enduring relationships with local activists and communities, in the process reaching areas where the most vulnerable live and harnessing the power of local knowledge. We provide community embedded teams with the tools, training, and technology they need and work with them to address the challenges of gathering, verifying, sharing, and distributing information safely.

As civic space contracts and physical, digital, legal, and psychological attacks on human rights defenders increase, our responsibility to protect our partners and team members has never been greater. We develop and continuously update physical and online security protocols that minimize risk and protect the identities of our partners and staff. We stay in the background, focusing on gathering and distributing information rather than promoting our own role.

To maximize our impact, we have developed a six-step process that continuously tracks development and implementation of our methodology in every place where we work:

  1. PLAN: Before we go anywhere, we conduct in-depth research to identify places and people at risk, assessing security challenges, and the type of information, images and content needed to expose and deter abuses.

  2. EQUIP: We carefully build our own team, or we supply local partners with custom-made video cameras and situation-specific technology.

  3. TRAIN: We build capacity by training teams on security protocols, filming techniques and evidence verification.

  4. FILM: Our investigation team guides efforts to capture compelling visuals from hard to access areas.

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Videre est Credere

For the year ended 31 December 2023

  1. VERIFY: We implement a rigorous, multi-faceted review and verification process.

  2. DISTRIBUTE: We distribute information to those who can use it best, including international decisionmakers, courts, lawyers, local civil society, and local and global media networks.

OUR IMPACT

not the organisation should take centre stage. While

we rarely take public credit for our work, in recent years, Videre-supported projects have:

2023 IN FOCUS

The reporting period saw the continued implementation of our 2021-23 strategic plan, which was based on an exhaustive internal and external evaluation of our work and impact. The strategy centres on four overarching goals:

Goal 1: Build the Evidence. Deliver effective tools, training, and technology to our teams and local activists so they produce ground-sourced, verifiable, visual evidence that mobilises concrete action and promotes systemic change.

Goal 2: Expose the System. Illuminate the interconnections among inequality, violence, and climate change.

Goal 3: Establish the Narrative. Collect, maintain, and make available no matter when the need arises evidence of genocide, mass atrocities, and other grave abuses.

Goal 4: Strengthen the Scaffolding . Strengthen infrastructure, policies, and procedures so Videre can better support those working on the frontlines to document abuses.

This strategy resulted in a range of impacts, including:

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Videre est Credere

For the year ended 31 December 2023

OUR FUTURE

At a time when global democracy is in retreat, and trusted information is increasingly hard to come by, our work to shine a light in parts of the world others cannot reach is ever more critical. As long as there are fearless local activists and community leaders determined to expose these abuses and challenge those who would cover them up Videre will be there to support and sustain their extraordinary work.

As we move into 2024, we are embarking on a new strategic planning process that will guide us from 2025 onwards. We see an urgent need for our work in many areas and we will explore how best to contribute, including through working in more collaborative ways, providing our expertise directly to local groups and accompanying them in their work and towards their goals. Although our work will continue to expose abuses by governments and armed groups, we also see an increasing application for our methodology in the area of corporate abuses of human rights, particularly in the extractives and logging industry affecting the climate crisis. We are excited to see how we can help activists and communities show what is happening to their local environments and how this is being hidden from the world, for now.

FINANCIAL REVIEW

The results for the period, and th financial statements.

The Charity is reliant on the income from donations and grants, the income from which was £1,161,885 (2022: £1,644,997). Governance costs are mainly

The overall movement in funds for the period was £-363,085 (2022: 324,624).

a mix of projects, many of them long-term projects requiring significant, ongoing financial commitment and investment.

Reserve Policy. The Trustees have examined the need for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes, liabilities, or otherwise committed. As a longel of reserves is three months of estimated annual expenditure. The Trustees are of the opinion that this provides: sufficient flexibility to cover minimum legal requirements; proper security for our staff and consultants should unforeseen emergencies arise; and cover against any temporary

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Videre est Credere

For the year ended 31 December 2023

shortfalls in incoming resources due to timing differences in income flows. At present, it is recognised that current reserve levels fall beneath this target.

Going Concern. The Board have examined the organisational financing for the next 12 months and have assured themselves that the predictions being made by senior management of the Charity are realistic and prudent. Accordingly, the Board can confirm that they consider the organisation to be a going concern.

STRUCTURE, GOVERNANCE, AND MANAGEMENT

The Charity is a company (registration #06706030) limited by guarantee and was set up by a Memorandum of Association on 24 September 2008, and amended by special resolution on 25 June 2009.

The Charity was registered with the Charity Commission (charity #1130375) on 26 June 2009.

Risk Assessment. The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

The Charity undertakes a risk review of all its activities and conducts thorough regular risk assessments of its work. Major risks are identified and ranked in order of their likelihood to occur and potential impact on the organisation.

Major risks, for this purpose, are all events that may have an impact on:

Senior management present any identified risks to the Trustees for review, satisfying themselves that adequate systems and procedures are in place to manage these risks. The Trustees understand that acceptance and management of some risk is required for the achievement of our objectives. Where appropriate, risks are covered by insurance.

As the Charity has grown, we continue to refine our internal procedures, updating and fine-tuning the financial, operational, and governance policies of the Charity. We have also continued to place a high priority on training of our staff and consultants due to the increased risks that they face in this world where human rights defenders are increasingly under attack. At the end of 2023, we secured funding for a dedicated internal security training role to continue to build on this work.

In 2021, Videre established the Stichting Videre est Credere Netherlands, a non-profit Foundation incorporated in The Netherlands and registered with the trade register. Stichting Videre est Credere Netherlands is a separate legal entity from Videre est Credere, however David Goldsworthy (UK Company Secretary) holds a board position with both entities. Videre est Credere provides support to the Stichting Videre est Credere Netherlands in the form of services to its Board and assistance with fundraising activities.

Appointment of Trustees. The Charity may by ordinary resolution appoint a person who is willing to be a director and to determine the rotation by which any additional directors are to retire.

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Videre est Credere

For the year ended 31 December 2023

New trustees are selected on the basis of the contribution they can offer, both in an international context and in their expertise in areas related to the objectives of the Charity. As they can be international citizens, the current Trustees make them aware of the requirements and governance needs of a UK-based Charity to ensure they understand the requirements.

Statement of Responsibilities of the Trustees.

annual report and the financial statements in accordance with applicable law the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

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

The Trustees are responsible for the maintenance and integrity of the corporate and financial information and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the Charity guarantee to contribute an amount not exceeding £10 to the assets of the Charity in the event of winding up. The total number of such guarantees at 31 December 2023 was 6 (2022: 6). The Trustees are members of the Charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the Charity.

Statement as to Disclosure to our Auditors. In so far as the Trustees are aware:

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Videre est Credere

For the year ended 31 December 2023

Auditors

ed auditors and have expressed their willingness to continue in that

capacity.

, and signed 11th July 2024

on their behalf by:

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Rosa Curling, Co-chair

Jonny Persey, Co-chair

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Independent auditors report

To the members of Videre est Credere

Opinion

We have audited the financial statements of Videre est Credere for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

affairs as at 31 December 2022 and of its income and expenditure for the year then ended;

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, al responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or condi continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

financial

within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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.

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Independent auditors report

To the members of Videre est Credere

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of

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

Responsibilities of the trustees

As explained more fully in the responsibilities statement, the trustees 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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Independent auditors report

To the members of Videre est Credere

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

We enquired of management, which included obtaining and reviewing supporting documentation,

Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

We inspected the minutes of meetings of those charged with governance.

We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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

Use of our report

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

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Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

Date: 12 July 2024

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Videre Est Credere Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Note Income from: Donations Charitable activities.. International Project C International Project G International Project I International Project J International Project W International Project K International Project L International Project M 540, 137 540,137 1,173,853 3,723 98,500 2,041 15,000 490,093 1,001 31,837 76,791 4,985 2.041 15,000 490.093 1.001 31.837 76.791 4,985 349, 128 19,793 Total income 540,137 621,748 1,161,885 1,644,997 Expenditure on: Raising funds Charitsble activities.. International Project C International Project E International Project G International Project I International Project J International Project p International Project W International Project K International Project L International Project M Research Department Technology & Innovation Department Programming & Operations Department 127,638 127.638 67,482 130,604 211,174 171,738 82,154 340,982 11,854 14,792 215,753 121,828 67,047 215.753 123,867 82.047 548,211 2,041 15,000 548,211 6,002 24,018 12,959 4,985 6.002 24.018 12.959 4.985 101.845 158,862 110.965 101,845 158,862 110,965 85,969 130,892 83,013 Total expenditure 903.936 613.216 1.517.152 1.330.654 Net income I lexpenditurel for the year {363.7991 8.532 {355.2671 314,343 Other gains I Ilossesl - Un￿aliSed exchange gainlllossl Net movement in funds 17,8181 {371.6171 17,8181 {363.0851 10,281 324.624 8.532 Re¢on¢iliation of funds.. Total funds brought forward 14 298,624 130,934 429.558 104,934 Total funds carried forward 72,993 139,466 66,473 429,558 All of the above results are derived from continuing a¢livilies. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements. Page | 11

Videre Est Credere Balance sheet As at 31 December 2023 2023 2023 2022 2022 Note Fixed assets: Tangible assets 1,048 1,671 Current assets: Debtors Cash al bank and in hand 10 50,959 140,708 191,667 244,829 287,313 532,142 Llabilitles: Creditors.. amounts falling due within one year 126,242 104,255 Net current assets 65,425 427,887 Total net assets 66,473 429,558 Funds Reslricled funds Unrestricted funds. General funds Total unreslricled funds 14 139,466 130,934 72,993 298,624 172,993 298,624 Total funds 66,473 429,558 The financial ststemenls have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Approved by the Iruslees on 11 July 2024 and signed on their behalf by". Rosa Curfing Trustee Jonny Persey Trustee Company reglstratlon no. 06706030 The attached notes form part of the financial statements. Page | 12

Videre Est Credere Statement of cash flows For the year ended 31 December 2023 Note 2023 2023 2022 2022 Cash flows from operating activities: Nel cash provided by I lused inl operating activities 15 1137,4401 105,889 Cash flows from investing activities: Salel Ipurchasel of fixed assets 11,3471 Cash provided by I (used in) investing activities 11,3471 Change in eash and cash equivalents in the year 1138,7871 105,889 Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents due lo exchange rate movements 287,313 171,143 17.8181 10,281 Cash and cash equivalents at the end of the year 16 140,708 287,313 Page | 13

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 1 Accounting policies al Basis of preparation The financial statements have been prepared in accordanee with Accounting and Reporting by Charities." statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - effective 1 January 20151- (Charities SORP FRS 1021 and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy or note. bl Reconciliation with previously Generally Accepted Accounting Practice {GAAPI In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was required. cl Going concem The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The Iruslees do not consider that there are any sources of eslimalion uncertainly at the reporting date that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next reporting period. dl Income Income is recognised when the charity has entillemenl to the funds, any performance conditions attached lo the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether 'capilal' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, il is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition a met. For legacies, entillemenl Is taken as the earlier of the dale on which either.. the charity is aware that probate has been granted, the estate has been fi'nalised and notification has been made by the executorlsl lo the charity that a distribution will be made, or when a distribution is reTrived from the estate. Re￿Ipt of a I￿aCY, in whole or In part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. el Donations of gifts. services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been mel, the receipt of economic benefit from the use by the charity of the Item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, volunteer time is not recognised so refer lo the trustees, annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing lo pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amoLJnl is then recognised in expenditure in the period of receipt. Page | 14

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 1 Accounting policies Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. gl Fund accountlng Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unreslricled fLJnds of the charity which the Iruslees have decided at their discretion lo sel aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. h) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or conslruclive obligation to make a payment lo 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 of trading costs and the costs incurred by the charitable company in Inducing third parties lo make voluntsry contributions lo It, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering serVI￿S and other acts'vilies undertaken lo further the purFX)ses 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. 11 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 office costs, finance, personnel, payroll and govemance costs which support the charity and its and activities. These costs have been allocated be￿een cost of raising funds and expenditure on charitable aclivilies. Il Operating leases Rental charges are Charged on a straight line basis over the term of the lease. kl Tangible fixed assets Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided al rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows.. Freehold propety Fixtures and fittings Computer equipment Motor vehicles 250/0 330/ 250/0 11 Llsted Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and SLJbsequenlly measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial aclivilies. ml Stocks Stock is included al the lower of cost or nel realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. n) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Page | 15

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 1 Accounting policies ol 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 dale of acquisition or opening of the deposit or similar account. pl Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resLJlting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ql Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are Initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. rl Pensions The charity operates a defined contribution pension scheme. Page | 16

Videre Est Credere Notes to the financial ststements For the year ended 31 December 2023 2 Detailed comparatives for the statement of financial activities 2022 Unrestricted 2022 Restricted 2022 Total Income from.. Donations and legacies Charitable aclivilies.. International Project C International Project G International Project J International Project w Total income 1,173,853 1,173,853 3,723 98,500 349,128 19,793 471,144 3,723 98.500 349,128 19,793 1,644,997 1,173,853 Expenditure on.. Raising funds Charitable activities.. International Project C International Project E International Project G International Project I International Project J International Project p International Project W Research Department Technology & Innovation Department Programming & Operations Total expenditure 67,482 67,482 126,881 211,174 112,791 82,154 3,723 130,604 211.174 171,738 82.154 340,982 11,854 14,792 85,969 130,892 83,013 1.330,654 58,947 340,982 11,854 14,792 85,969 130,892 83,013 912.210 418.444 Net income l expenditure 261,643 52,700 314,343 Other gains Net movement in funds 10,281 271,924 10.281 324,624 52,700 Total funds brought forward Total funds carried forward 26,700 298,624 78,234 130,934 104,934 429,558 3 Income from donations 2023 Total 2022 Total Unrestricted Restricted Gifts Donated services 538,105 2,032 540,137 538,105 2.032 540.137 1,173,853 1,173,853 Pagel 17

Videre Est Credere Notes to the financial ststements For the year ended 31 December 2023 4 Income from charitable activities 2023 Total 2022 Total Unrestricted Restricted International Project c International Project G International Project I International Project J International Project w International Project K International Project L International Project M 3,723 98,500 2,041 15,000 490,093 1,001 31,837 76,791 4,985 2,041 15.000 490,093 1.001 31,837 76.791 4,985 349,128 19,793 Total income from charitable activities 621,748 621,748 471,144 Pagel 18

Vvjere EstCredEie Notsstothgfinan¢ialstat¢m¢n Fortho yèar•ndod J1 D•c￿b￿￿ 202J Ca￿DI B&Bl&Qt E Prai&￿4 Prqqctl F￿B￿j Prqqthm PraiBtJW Dqp3Mrnfj￿1 I￿21T￿￿ 2022Tth li￿.B4 8,4B4 b.a5B 4461 17.SF3 2. F4,41f2 Al￿￿￿￿p￿r¢sl1on4S￿l¢eI 4.￿) 19. ZQ.787 1D4,Sfj7 32,7Q7 42, 11.9Tr4 L￿10￿1¢¢*5 12, 19.654 Jetheads 546 9.259 101M45 I23,￿7 82.M7 541,111 24,011 {M1￿1￿￿1￿￿nd￿urn.£$IJ.I3Gw￿￿nt011TklqdIIQ2￿.£111,2ID}￿ndLG1J.￿6￿￿FestlklqdIAO￿2.£lIS,414 ProR¢lG P￿￿tIP Pioieuw Dep•dhW l011Tth￿ 2U21 T¢W 8kff &CDn5ulants AdW5v&Pmfe551DnaS￿vI￿e5 NifwothManaprnini&Trainin{ Dir8tt Equiprnqnl L￿1￿1[ec4)St5 95.164 14B.856 31.547 7I.9B7 95.3F3 68.55B 251 22,JO2 92,k16 37,071 34.745 40.652 546 104.657 1.1 10.76fJ 3.YJ1 92k l￿dir( 1.125 1S613 &765 106.787 171.75 lJ013 1 JJo.554 1.s5427è

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 Net income I lexpenditurel for the year This is staled after charging I Icreditingl.. 2023 2022 Depreciation Auditor's remuneration". Audit fees Foreign exchange gains I Ilossesl 1,969 2,315 6,500 7,818 6,500 10,281 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows. 2023 2022 Salaries and wages Social security costs Employer's contribution lo defined eontribulion pension schemes Operating costs of defined benefit pension schemes 539, 181 35,475 19,292 654 594,602 598,625 55,771 23,962 654 679,012 The following number of employees received employee benefits (excluding employer pension) during the year be￿een.. 2023 No. 2022 No. £60,000- £69,999 £70,000- £79,g99 £80,000- £89,999 The charity's key management personnel are considered to be the senior management team ISMTI comprising at 31st December 2023 the CEO, and the Senior Directors of Strategic Development and Programming & Operations. Their total remuneration including Nl & pension contributions amounted to £232,19012022 £256,664). Staff numbe The average number of employees (head count based on number of stsff employed) during the year was as follows.. 2023 No. 1.50 8.00 2.50 2022 No. 1.00 7.00 2.50 0.50 11.00 Raising funds Charitable activities Support Governan 12.00 This figure includes both staff members plus significant consultancy contracts. Page120

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 Taxation The charitable company is exempt from corporation lax as all its income is charitable and is applied for charitable purposes. Tangible fixed assets Computer equipment Total Cost At the start of the year Additions in year At the end of the year 22,274 1,347 23,621 22,274 1.347 23,621 Depreciation At the start of the year Charge for the year At the end of the year 20,603 1,970 22,573 20.603 1,970 22.573 Net book value At the end of the year 1,048 1,048 At the start of the year 1,671 1,671 All of the above assets are used for charitable purposes. 10 Debtors 2023 2022 Other debtors Prepayments Accrued income 61 9,356 41,542 50,959 3,026 10,935 230,868 244,829 11 Creditors- amounts falling due within one year 2023 2022 Taxation and social security Other creditors Accruals 71,832 29,337 25,073 126,242 30,051 34,214 39,990 104,255 12 Pension scheme Ten Videre staff members have taken advantage of our pension scheme. The total employer's contributions lo the UK-based pension scheme in 2023 were £19,292. There are no outstanding funds owed to the scheme. Page | 21

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 13 Analysis of net assets between funds General unrestricted Designated Restricted Total funds Tangible fixed assets Nel current assets Net assets at the end of the year 1,048 74,041 72.993 1.048 65,425 66,473 139,466 139,466 Analysis of net assets between funds of previous reporting period General unrestricted Designated Restricted Total funds Tangible fixed assets Nel current assets Net assets at the end of the year 1,671 296,953 298,624 1.671 427,887 429,558 130,934 130,934 14 Movements in funds At the start of the year Income & Expenditure Atthe end gains & losses Transfers of the year Restricted funds: International Project K International Project I International Project G International Project W International Project J International Project L International Project M Total restricted funds 31,837 15,000 2,041 1,001 490,093 76,791 4,985 621.748 24,018 15,000 2,041 6,002 548,211 12,959 4,985 613,216 7.819 5,001 125,933 67.815 63,832 130.934 139.466 General funds 298,624 540, 137 911,754 172,9931 Total unrestricted funds 298.624 540.137 911,754 72.993 Totsl funds 429.558 1,161.885 1.524,970 66.473 Movements in funds for previous reporting period At the stsrt of the year Income & Expenditure Atthe end gains & losses Transfers of the year Restricted funds: International Project C International Project E International Project G International Project w International Project J Total restricted funds 3,723 3,723 98,500 19,793 349, 128 471,144 58,947 14,792 340,982 418,444 39,553 5.001 86,380 130,934 78,234 78,234 General funds 26,700 1,173,853 901,929 298.624 Total unrestrl¢ted funds 26,700 1,173,853 901,929 298,624 Total funds 104.934 1,644.997 1.320,373 429.558 Page | 22

Videre Est Credere Notes to the financial statements For the year ended 31 December 2023 15 Reconciliation of net income I lexpenditure) to net cash Ilow from operating activities 2023 2022 Net income I lexpenditurel for the reporting period as per the statement of financial activities) Depreciation Ilncreasell decrease in debtors Increasel Idecreasel in creditors Net cash provided by l {used inl operating activities {355,2671 314,343 1,970 193,870 21,987 137,440 2,315 1210,6321 137 105,889 16 Anatysis of cash and cash equivalents At31 December 2023 At 1 January 2023 Cash flows Other changes Cash at bank and in hand 287,313 1146,6051 140,708 Total cash and cash equivalents 287.313 146,6051 140.708 17 Operatlng lease commltments Totsl future minimum lease payments under non-cancellable operating leases are as follows.. Property 2023 2022 Less than 1 year 3,978 7,578 3,978 7,578 18 Legal status of the charity The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up. 19 Related party transactions During the year, one of the Iruslees provided an interesl-free loan lo the charity of £30,000. The balance outstanding as at the year end was £15,000. Page | 23